12 May 2006


[Federal Register: May 12, 2006 (Volume 71, Number 92)]
[Presidential Documents]               
[Page 27941-27943]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[[Page 27941]]


Part III

The President


Memorandum of May 5, 2006--Assignment of Function Relating to Granting 
of Authority for Issuance of Certain Directives

                        Presidential Documents 


Title 3--
The President

[[Page 27943]]

                Memorandum of May 5, 2006

                Assignment of Function Relating to Granting of 
                Authority for Issuance of Certain Directives

                Memorandum for the Director of National Intelligence

                By virtue of the authority vested in me by the 
                Constitution and laws of the United States, including 
                section 301 of title 3, United States Code, I hereby 
                assign to you the function of the President under 
                section 13(b)(3)(A) of the Securities Exchange Act of 
                1934, as amended (15 U.S.C. 78m(b)(3)(A)). In 
                performing such function, you should consult the heads 
                of departments and agencies, as appropriate.

                You are authorized and directed to publish this 
                memorandum in the Federal Register.

                    (Presidential Sig.)B

                THE WHITE HOUSE,

                    Washington, May 5, 2006.

[FR Doc. 06-4538
Filed 5-11-06; 9:04 am]

Billing code 3910-A7-M



From the U.S. Code Online via GPO Access
[Laws in effect as of January 2, 2001]
[Document affected by Public Law 107-123 Section 5]
[CITE: 15USC78m]

                      TITLE 15--COMMERCE AND TRADE
Sec. 78m. Periodical and other reports


(b) Form of report; books, records, and internal accounting; directives

    (2) Every issuer which has a class of securities registered pursuant 
to section 78l of this title and every issuer which is required to file 
reports pursuant to section 78o(d) of this title shall--
        (A) make and keep books, records, and accounts, which, in 
    reasonable detail, accurately and fairly reflect the transactions 
    and dispositions of the assets of the issuer; and
        (B) devise and maintain a system of internal accounting controls 
    sufficient to provide reasonable assurances that--
            (i) transactions are executed in accordance with 
        management's general or specific authorization;
            (ii) transactions are recorded as necessary (I) to permit 
        preparation of financial statements in conformity with generally 
        accepted accounting principles or any other criteria applicable 
        to such statements, and (II) to maintain accountability for 
            (iii) access to assets is permitted only in accordance with 
        management's general or specific authorization; and
            (iv) the recorded accountability for assets is compared with 
        the existing assets at reasonable intervals and appropriate 
        action is taken with respect to any differences.

    (3)(A) With respect to matters concerning the national security of 
the United States, no duty or liability under paragraph (2) of this 
subsection shall be imposed upon any person acting in cooperation with 
the head of any Federal department or agency responsible for such 
matters if such act in cooperation with such head of a department or 
agency was done upon the specific, written directive of the head of such 
department or agency pursuant to Presidential authority to issue such 
directives. Each directive issued under this paragraph shall set forth 
the specific facts and circumstances with respect to which the 
provisions of this paragraph are to be invoked. Each such directive 
shall, unless renewed in writing, expire one year after the date of 
    (B) Each head of a Federal department or agency of the United States 
who issues a directive pursuant to this paragraph shall maintain a 
complete file of all such directives and shall, on October 1 of each 
year, transmit a summary of matters covered by such directives in force 
at any time during the previous year to the Permanent Select Committee 
on Intelligence of the House of Representatives and the Select Committee 
on Intelligence of the Senate.

[End excerpt]