42 U.S.C. § 16454 — Exemption authority

submitted 21 years ago by Pub. L. 109-58 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 174 words · no verdicts yet

in plain englishAI-generated · not legal advice

Within 90 days, the Commission must exempt certain holding companies from a records-access rule. This covers companies that only own qualifying facilities, exempt wholesale generators, or foreign utility companies. The Commission must also exempt records or transactions that do not affect a utility's rates.

(a) Rulemaking: Within 90 days after this part's effective date, the Commission must issue a final rule. The rule must exempt certain holding companies from the "Federal access to books and records" rule in section 16452. This applies only to companies that are holding companies solely because they own: (1) qualifying facilities under the Public Utility Regulatory Policies Act of 1978; (2) exempt wholesale generators; or (3) foreign utility companies. (b) Other authority: The Commission must also exempt a person or a type of transaction from section 16452 if, after an application or on its own motion, the Commission finds that: (1) the records are not relevant to a utility's rates that the Commission oversees; or (2) an entire class of transactions is not relevant to those rates.

the actual law source: uscode.house.gov ↗public domain

(a) Rulemaking

Not later than 90 days after the effective date of this part, the Commission shall issue a final rule to exempt from the requirements of section 16452 of this title (relating to Federal access to books and records) any person that is a holding company, solely with respect to one or more—

(1)

qualifying facilities under the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2601 et seq.);

(2)

exempt wholesale generators; or

(3)

foreign utility companies.

(b) Other authority

The Commission shall exempt a person or transaction from the requirements of section 16452 of this title (relating to Federal access to books and records) if, upon application or upon the motion of the Commission—

(1)

the Commission finds that the books, accounts, memoranda, and other records of any person are not relevant to the jurisdictional rates of a public utility or natural gas company; or

(2)

the Commission finds that any class of transactions is not relevant to the jurisdictional rates of a public utility or natural gas company.

Source credit: (Pub. L. 109–58, title XII, § 1266, Aug. 8, 2005, 119 Stat. 975.)

history & why it existsrecord from the source credit

2005Enacted · Pub. L. 109-58 · 119 Stat. 975

A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-58 on 2005-08-08.

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