I 

111TH CONGRESS 

1ST SESSION H. R. 2947 

To amend the Federal securities laws to make technical corrections and 

to make conforming amendments related to the repeal of the Public 

Utility Holding Company Act of 1935. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 18, 2009 

Ms. JENKINS introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To amend the Federal securities laws to make technical 

corrections and to make conforming amendments related 

to the repeal of the Public Utility Holding Company 

Act of 1935. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Securities Law Tech5 nical Corrections Act of 2009’’. 

6 SEC. 2. TECHNICAL CORRECTIONS. 

7 (a) SECURITIES ACT OF 1933.—The Securities Act 

8 of 1933 (15 U.S.C. 77a et seq.) is amended— 


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1 (1) in section 3(a)(4) (15 U.S.C. 77c(a)(4)), by 

2 striking ‘‘individual;’’ and inserting ‘‘individual,’’; 

3 (2) in section 18(b)(1)(C) (15 U.S.C. 

4 77r(b)(1)(C)), by striking ‘‘is a security’’ and insert5 ing ‘‘a security’’; 

6 (3) in section 18(c)(2)(B)(i) (15 U.S.C. 

7 77r(c)(2)(B)(i)), by striking ‘‘State, or’’ and insert8 ing ‘‘State or’’; 

9 (4) in section 19(d)(6)(A) (15 U.S.C. 

10 77s(d)(6)(A)), by striking ‘‘in paragraph (1) of (3)’’ 

11 and inserting ‘‘in paragraph (1) or (3)’’; and 

12 (5) in section 27A(c)(1)(B)(ii) (15 U.S.C. 77z– 

13 2(c)(1)(B)(ii)), by striking ‘‘business entity;’’ and in14 serting ‘‘business entity,’’. 

15 (b) SECURITIES EXCHANGE ACT OF 1934.—The Se16 curities Exchange Act of 1934 (15 U.S.C. 78 et seq.) is 

17 amended— 

18 (1) in section 2(1)(a) (15 U.S.C. 78b(1)(a)), by 

19 striking ‘‘affected’’ and inserting ‘‘effected’’; 

20 (2) in section 3(a)(55)(A) (15 U.S.C. 

21 78c(a)(55)(A)), by striking ‘‘section 3(a)(12) of the 

22 Securities Exchange Act of 1934’’ and inserting 

23 ‘‘section 3(a)(12) of this Act’’; 


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1 (3) in section 3(g) (15 U.S.C. 78c(g)), by strik2 ing ‘‘company, account person, or entity’’ and insert3 ing ‘‘company, account, person, or entity’’; 

4 (4) in section 10A(i)(1)(B)(i) (15 U.S.C. 78j– 

5 1(i)(1)(B)(i)), by striking ‘‘nonaudit’’ and inserting 

6 ‘‘non-audit’’; 

7 (5) in section 13(b)(1) (15 U.S.C. 78m(b)(1)), 

8 by striking ‘‘earning statement’’ and inserting 

9 ‘‘earnings statement’’; 

10 (6) in section 15(b)(1) (15 U.S.C. 78o(b)(1))— 

11 (A) by striking the sentence beginning 

12 ‘‘The order granting’’ and ending ‘‘from such 

13 membership.’’ in subparagraph (B); and 

14 (B) by inserting such sentence in the mat15 ter following such subparagraph after ‘‘are sat16 isfied.’’; 

17 (7) in section 15 (15 U.S.C. 78o), by redesig18 nating subsection (i), as added by section 303(f) of 

19 the Commodity Futures Modernization Act of 2000 

20 (114 Stat. 2763A–455), as subsection (j); 

21 (8) in section 15C(a)(2) (15 U.S.C. 78o– 

22 5(a)(2))— 

23 (A) by redesignating clauses (i) and (ii) as 

24 subparagraphs (A) and (B), respectively; 


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1 (B) by striking the sentence beginning 

2 ‘‘The order granting’’ and ending ‘‘from such 

3 membership.’’ in such subparagraph (B), as re4 designated; and 

5 (C) by inserting such sentence in the mat6 ter following such redesignated subparagraph 

7 after ‘‘are satisfied.’’; 

8 (9) in section 16(a)(2)(C) (15 U.S.C. 

9 78p(a)(2)(C)), by striking ‘‘section 206(b)’’ and in10 serting ‘‘section 206B’’; 

11 (10) in section 17(b)(1)(B) (15 U.S.C. 

12 78q(b)(1)(B)), by striking ‘‘15A(k) gives’’ and in13 serting ‘‘15A(k), give’’; and 

14 (11) in section 21C(c)(2) (15 U.S.C. 78u– 

15 3(c)(2)), by striking ‘‘paragraph (1) subsection’’ and 

16 inserting ‘‘Paragraph (1)’’. 

17 (c) TRUST INDENTURE ACT OF 1939.—The Trust 

18 Indenture Act of 1939 (15 U.S.C. 77aaa et seq.) is 

19 amended— 

20 (1) in section 304(b) (15 U.S.C. 77ddd(b)), by 

21 striking ‘‘section 2 of such Act’’ and inserting ‘‘sec22 tion 2(a) of such Act’’; 

23 (2) in section 313(a)(4) (15 U.S.C. 

24 77mmm(a)(4)) by striking ‘‘subsection 311’’ and in25 serting ‘‘section 311(b)’’; and 


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1 (3) in section 317(a)(1) (15 U.S.C. 

2 77qqq(a)(1)), by striking ‘‘(1),’’ and inserting ‘‘(1)’’. 

3 (d) INVESTMENT COMPANY ACT OF 1940.—The In4 vestment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) 

5 is amended— 

6 (1) in section 2(a)(19) (15 U.S.C. 80a– 

7 2(a)(19)) by striking ‘‘clause (vi)’’ both places it ap8 pears in the last two sentences and inserting ‘‘clause 

9 (vii)’’; 

10 (2) in section 9(b)(4)(B) (15 U.S.C. 80a– 

11 9(b)(4)(B)), by inserting ‘‘or’’ after the semicolon at 

12 the end; 

13 (3) in section 12(d)(1)(J) (15 U.S.C. 80a– 

14 12(d)(1)(J)), by striking ‘‘any provision of this sub15 section’’ and inserting ‘‘any provision of this para16 graph’’; 

17 (4) in section 13(a)(3) (15 U.S.C. 80a– 

18 13(a)(3)), by inserting ‘‘or’’ after the semicolon at 

19 the end; 

20 (5) in section 17(f)(4) (15 U.S.C. 80a– 

21 17(f)(4)), by striking ‘‘No such member’’ and insert22 ing ‘‘No member of a national securities exchange’’; 

23 (6) in section 17(f)(6) (15 U.S.C. 80a– 

24 17(f)(6)), by striking ‘‘company may serve’’ and in25 serting ‘‘company, may serve’’; and 


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1 (7) in section 61(a)(3)(B)(iii) (15 U.S.C. 80a– 

2 60(a)(3)(B)(iii))— 

3 (A) by striking ‘‘paragraph (1) of section 

4 205’’ and inserting ‘‘section 205(a)(1)’’; and 

5 (B) by striking ‘‘clause (A) or (B) of that 

6 section’’ and inserting ‘‘section 205(b)(1) or 

7 (2)’’. 

8 (e) INVESTMENT ADVISERS ACT OF 1940.—The In9 vestment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.) 

10 is amended— 

11 (1) in each of the following sections, by striking 

12 ‘‘principal business office’’ or ‘‘principal place of 

13 business’’ (whichever and wherever it appears) and 

14 inserting ‘‘principal office and place of business’’: 

15 sections 203(c)(1)(A), 203(k)(4)(B), 213(a), 222(b), 

16 and 222(c) (15 U.S.C. 80b–3(c)(1)(A), 80b– 

17 3(k)(4)(B), 80b–13(a), 80b–18a(b), and 80b– 

18 18a(c)); and 

19 (2) in section 206(3) (15 U.S.C. 80b–6(3)), by 

20 inserting ‘‘or’’ after the semicolon at the end. 


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1 SEC. 3. CONFORMING AMENDMENTS FOR THE REPEAL OF 

2 THE PUBLIC UTILITY HOLDING COMPANY 

3 ACT OF 1935. 

4 (a) SECURITIES EXCHANGE ACT OF 1934.—The Se5 curities Exchange Act of 1934 (15 U.S.C. 78 et seq.) is 

6 amended— 

7 (1) in section 3(a)(47) (15 U.S.C. 78c(a)(47)), 

8 by striking ‘‘the Public Utility Holding Company 

9 Act of 1935 (15 U.S.C. 79a et seq.),’’; and 

10 (2) in section 12(k) (15 U.S.C. 78l(k)), by 

11 amending paragraph (7) to read as follows:

12 ‘‘(7) DEFINITION.—For purposes of this sub13 section, the term ‘emergency’ means— 

14 ‘‘(A) a major market disturbance charac15 terized by or constituting— 

16 ‘‘(i) sudden and excessive fluctuations 

17 of securities prices generally, or a substan18 tial threat thereof, that threaten fair and 

19 orderly markets; or 

20 ‘‘(ii) a substantial disruption of the 

21 safe or efficient operation of the national 

22 system for clearance and settlement of 

23 transactions in securities, or a substantial 

24 threat thereof; or 


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1 ‘‘(B) a major disturbance that substan2 tially disrupts, or threatens to substantially dis3 rupt— 

4 ‘‘(i) the functioning of securities mar5 kets, investment companies, or any other 

6 significant portion or segment of the secu7 rities markets; or 

8 ‘‘(ii) the transmission or processing of 

9 securities transactions.’’. 

10 (3) in section 21(h)(2) (15 U.S.C. 78u(h)(2)), 

11 by striking ‘‘section 18(c) of the Public Utility Hold12 ing Company Act of 1935,’’. 

13 (b) TRUST INDENTURE ACT OF 1939.—The Trust 

14 Indenture Act of 1939 (15 U.S.C. 77aaa et seq.) is 

15 amended— 

16 (1) in section 303 (15 U.S.C. 77ccc), by 

17 amending paragraph (17) to read as follows: 

18 ‘‘(17) The terms ‘Securities Act of 1933’ and 

19 ‘Securities Exchange Act of 1934’ shall be deemed 

20 to refer, respectively, to such Acts, as amended, 

21 whether amended prior to or after the enactment of 

22 this title.’’; 

23 (2) in section 308 (15 U.S.C. 77hhh), by strik24 ing ‘‘Securities Act of 1933, the Securities Exchange 

25 Act of 1934, or the Public Utility Holding Company 


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1 Act of 1935’’ each place it appears and inserting 

2 ‘‘Securities Act of 1933 or the Securities Exchange 

3 Act of 1934’’; 

4 (3) in section 310 (15 U.S.C. 77jjj), by striking 

5 subsection (c) (including the preceding heading); 

6 (4) in section 311 (15 U.S.C. 77kkk) by strik7 ing subsection (c); 

8 (5) in section 323(b) (15 U.S.C. 77www(b)), by 

9 striking ‘‘Securities Act of 1933, or the Securities 

10 Exchange Act of 1934, or the Public Utility Holding 

11 Company Act of 1935’’ and inserting ‘‘Securities Act 

12 of 1933 or the Securities Exchange Act of 1934’’; 

13 and 

14 (6) in section 326 (15 U.S.C. 77zzz), by strik15 ing ‘‘Securities Act of 1933, or the Securities Ex16 change Act of 1934, or the Public Utility Holding 

17 Company Act of 1935,’’ and inserting ‘‘Securities 

18 Act of 1933 or the Securities Exchange Act of 

19 1934’’. 

20 (c) INVESTMENT COMPANY ACT OF 1940.—The In21 vestment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) 

22 is amended— 

23 (1) in section 2(a)(44) (15 U.S.C. 80a– 

24 2(a)(44)), by striking ‘‘Public Utility Holding Com25 pany Act of 1935,’’; 


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1 (2) in section 3(c) (15 U.S.C. 80a–3(c)), by 

2 amending paragraph (8) to read as follows: 

3 ‘‘(8) [Repealed]’’; 

4 (3) in section 38(b) (15 U.S.C. 80a–37(b)), by 

5 striking ‘‘the Public Utility Holding Company Act of 

6 1935,’’; and 

7 (4) in section 50 (15 U.S.C. 80a–49), by strik8 ing ‘‘the Public Utility Holding Company Act of 

9 1935,’’. 

10 (d) INVESTMENT ADVISERS ACT OF 1940.—Section 

11 202(a)(21) of the Investment Advisers Act of 1940 (15 

12 U.S.C. 80b–2(a)(21)) is amended by striking ‘‘Public Util13 ity Holding Company Act of 1935,’’. 

Æ 


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