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

(a) Rulemaking: No later than 90 days after this part takes effect, the Commission^* must issue a final rule. The rule must exempt from section 16452 of this title, which concerns Federal access to books and records, any person^* that is a holding company^* solely with respect to one or more of these: (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 exempt a person or transaction from section 16452 if, after an application or on the Commission's own motion, it finds either: (1) 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) a class of transactions is not relevant to the jurisdictional rates of a public utility or natural gas company^*.