General Protective Committee v. SEC - 346 U.S. 521 (1954)


U.S. Supreme Court

General Protective Committee v. SEC, 346 U.S. 521 (1954)

General Protective Committee for the Holders of Option Warrants

of the United Corporation v. Securities and Exchange Commission

No. 184

Argued December 2, 1953

Decided January 4, 1954

346 U.S. 521

Syllabus

A voluntary plan of reorganization submitted to the Securities and Exchange Commission under § 11(e) of the Public Utility Holding Company Act of 1935, which would enable a registered holding company to comply with § 11(b) of the Act by converting itself into an investment company, was approved by the Commission. The Commission expressly provided in its order of approval that certain provisions of the plan would not be operative "until an appropriate United States District Court shall, upon application thereto, enter an order enforcing said provisions," but the Commission had not yet applied to the District Court for enforcement under § 11(e).

Held: on a petition for review under § 24(a) of the Act, the Court of Appeals was without jurisdiction over those provisions of the plan which the Commission had made operative on enforcement by the District Court, but had jurisdiction of the controversy so far as it related to other provisions of the plan. Pp. 346 U. S. 522-536.

92 U.S.App.D.C. 172, 203 F.2d 611, affirmed in part and reversed in part.

The Securities and Exchange Commission approved a reorganization plan under § 11(e) of the Public Utility Holding Company Act of 1935. Holding Company Act Releases Nos. 10614, 10643. On review in the Court of Appeals, the petitioner here was allowed to intervene, and the Court of Appeals affirmed the Commission's order. 92 U.S.App.D.C. 172, 203 F.2d 611. This Court granted certiorari limited to the question of jurisdiction. 346 U.S. 810. Affirmed in part and reversed on part, p. 346 U. S. 536.

Page 346 U. S. 522



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