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

Summary

The Commission must issue a final rule within 90 days after this part takes effect. The rule will exempt a holding company from the federal rules about access to books and records, but only for certain kinds of businesses: qualifying facilities under the Public Utility Regulatory Policies Act of 1978, exempt wholesale generators, and foreign utility companies. The Commission must also exempt a person or a class of transactions from those access rules if, after someone asks or on its own, it finds the books or those transactions are not relevant to the rates the Commission controls for a public utility or a natural gas company.

Title 42, §16454

The Public Health and Welfare, Source: USLM XML via OLRC

(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.

Notes & Related Subsidiaries

Editorial Notes

References in Text

For the

Effective Date

of this part, referred to in subsec. (a), see

Effective Date

note set out under section 16451 of this title. The Public Utility Regulatory Policies Act of 1978, referred to in subsec. (a)(1), is Pub. L. 95–617, Nov. 9, 1978, 92 Stat. 3117. For complete classification of this Act to the Code, see

Short Title

note set out under section 2601 of Title 16, Conservation, and Tables.

§16454 Exemption Authority

Summary

Title 42, §16454

Notes & Related Subsidiaries

Editorial Notes

References in Text

Effective Date

Effective Date

Short Title

Citations & Metadata