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Sarbanes-Oxley Section 301

SEC | April 9, 2003

Section 10A of the Securities Exchange Act of 1934 (15 U.S.C. 78f) is amended by adding at the end the following:

    (m) STANDARDS RELATING TO AUDIT COMMITTEES-
      (1) COMMISSION RULES-
        (A) IN GENERAL- Effective not later than 270 days after the date of enactment of this subsection, the Commission shall, by rule, direct the national securities exchanges and national securities associations to prohibit the listing of any security of an issuer that is not in compliance with the requirements of any portion of paragraphs (2) through (6).
        (B) OPPORTUNITY TO CURE DEFECTS- The rules of the Commission under subparagraph (A) shall provide for appropriate procedures for an issuer to have an opportunity to cure any defects that would be the basis for a prohibition under subparagraph (A), before the imposition of such prohibition.
      (2) RESPONSIBILITIES RELATING TO...
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