IIB 
111TH CONGRESS 
1ST SESSION H. R. 2947 
IN THE SENATE OF THE UNITED STATES 
SEPTEMBER 16, 2009 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
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. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Securities Law Tech-
nical Corrections Act of 2009’’. 
SEC. 2. TECHNICAL CORRECTIONS. 
(a) SECURITIES ACT OF 1933.—The Securities Act 
of 1933 (15 U.S.C. 77a et seq.) is amended— 
(1) in section 3(a)(4) (15 U.S.C. 77c(a)(4)), by 
striking ‘‘individual;’’ and inserting ‘‘individual,’’; 
(2) 
in 
section 
18(b)(1)(C) 
(15 
U.S.C. 
77r(b)(1)(C)), by striking ‘‘is a security’’ and insert-
ing ‘‘a security’’; 
(3) in section 18(c)(2)(B)(i) (15 U.S.C. 
77r(c)(2)(B)(i)), by striking ‘‘State, or’’ and insert-
ing ‘‘State or’’; 
(4) 
in 
section 
19(d)(6)(A) 
(15 
U.S.C. 
77s(d)(6)(A)), by striking ‘‘in paragraph (1) of (3)’’ 
and inserting ‘‘in paragraph (1) or (3)’’; and 
(5) in section 27A(c)(1)(B)(ii) (15 U.S.C. 77z– 
2(c)(1)(B)(ii)), by striking ‘‘business entity;’’ and in-
serting ‘‘business entity,’’. 
(b) SECURITIES EXCHANGE ACT OF 1934.—The Se-
curities Exchange Act of 1934 (15 U.S.C. 78 et seq.) is 
amended— 
(1) in section 2(1)(a) (15 U.S.C. 78b(1)(a)), by 
striking ‘‘affected’’ and inserting ‘‘effected’’; 
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(2) 
in 
section 
3(a)(55)(A) 
(15 
U.S.C. 
78c(a)(55)(A)), by striking ‘‘section 3(a)(12) of the 
Securities Exchange Act of 1934’’ and inserting 
‘‘section 3(a)(12) of this Act’’; 
(3) in section 3(g) (15 U.S.C. 78c(g)), by strik-
ing ‘‘company, account person, or entity’’ and insert-
ing ‘‘company, account, person, or entity’’; 
(4) in section 10A(i)(1)(B)(i) (15 U.S.C. 78j– 
1(i)(1)(B)(i)), by striking ‘‘nonaudit’’ and inserting 
‘‘non-audit’’; 
(5) in section 13(b)(1) (15 U.S.C. 78m(b)(1)), 
by striking ‘‘earning statement’’ and inserting 
‘‘earnings statement’’; 
(6) in section 15(b)(1) (15 U.S.C. 78o(b)(1))— 
(A) by striking the sentence beginning 
‘‘The order granting’’ and ending ‘‘from such 
membership.’’ in subparagraph (B); and 
(B) by inserting such sentence in the mat-
ter following such subparagraph after ‘‘are sat-
isfied.’’; 
(7) in section 15 (15 U.S.C. 78o), by redesig-
nating subsection (i), as added by section 303(f) of 
the Commodity Futures Modernization Act of 2000 
(114 Stat. 2763A–455), as subsection (j); 
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(8) in section 15C(a)(2) (15 U.S.C. 78o– 
5(a)(2))— 
(A) by redesignating clauses (i) and (ii) as 
subparagraphs (A) and (B), respectively; 
(B) by striking the sentence beginning 
‘‘The order granting’’ and ending ‘‘from such 
membership.’’ in such subparagraph (B), as re-
designated; and 
(C) by inserting such sentence in the mat-
ter following such redesignated subparagraph 
after ‘‘are satisfied.’’; 
(9) 
in 
section 
16(a)(2)(C) 
(15 
U.S.C. 
78p(a)(2)(C)), by striking ‘‘section 206(b)’’ and in-
serting ‘‘section 206B’’; 
(10) 
in 
section 
17(b)(1)(B) 
(15 
U.S.C. 
78q(b)(1)(B)), by striking ‘‘15A(k) gives’’ and in-
serting ‘‘15A(k), give’’; and 
(11) in section 21C(c)(2) (15 U.S.C. 78u– 
3(c)(2)), by striking ‘‘paragraph (1) subsection’’ and 
inserting ‘‘Paragraph (1)’’. 
(c) TRUST INDENTURE ACT OF 1939.—The Trust 
Indenture Act of 1939 (15 U.S.C. 77aaa et seq.) is 
amended— 
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(1) in section 304(b) (15 U.S.C. 77ddd(b)), by 
striking ‘‘section 2 of such Act’’ and inserting ‘‘sec-
tion 2(a) of such Act’’; 
(2) 
in 
section 
313(a)(4) 
(15 
U.S.C. 
77mmm(a)(4)) by striking ‘‘subsection 311’’ and in-
serting ‘‘section 311(b)’’; and 
(3) 
in 
section 
317(a)(1) 
(15 
U.S.C. 
77qqq(a)(1)), by striking ‘‘(1),’’ and inserting ‘‘(1)’’. 
(d) INVESTMENT COMPANY ACT OF 1940.—The In-
vestment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) 
is amended— 
(1) in section 2(a)(19) (15 U.S.C. 80a– 
2(a)(19)) by striking ‘‘clause (vi)’’ both places it ap-
pears in the last two sentences and inserting ‘‘clause 
(vii)’’; 
(2) in section 9(b)(4)(B) (15 U.S.C. 80a– 
9(b)(4)(B)), by inserting ‘‘or’’ after the semicolon at 
the end; 
(3) in section 12(d)(1)(J) (15 U.S.C. 80a– 
12(d)(1)(J)), by striking ‘‘any provision of this sub-
section’’ and inserting ‘‘any provision of this para-
graph’’; 
(4) in section 13(a)(3) (15 U.S.C. 80a– 
13(a)(3)), by inserting ‘‘or’’ after the semicolon at 
the end; 
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(5) in section 17(f)(4) (15 U.S.C. 80a– 
17(f)(4)), by striking ‘‘No such member’’ and insert-
ing ‘‘No member of a national securities exchange’’; 
(6) in section 17(f)(6) (15 U.S.C. 80a– 
17(f)(6)), by striking ‘‘company may serve’’ and in-
serting ‘‘company, may serve’’; and 
(7) in section 61(a)(3)(B)(iii) (15 U.S.C. 80a– 
60(a)(3)(B)(iii))— 
(A) by striking ‘‘paragraph (1) of section 
205’’ and inserting ‘‘section 205(a)(1)’’; and 
(B) by striking ‘‘clause (A) or (B) of that 
section’’ and inserting ‘‘section 205(b)(1) or 
(2)’’. 
(e) INVESTMENT ADVISERS ACT OF 1940.—The In-
vestment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.) 
is amended— 
(1) in each of the following sections, by striking 
‘‘principal business office’’ or ‘‘principal place of 
business’’ (whichever and wherever it appears) and 
inserting ‘‘principal office and place of business’’: 
sections 203(c)(1)(A), 203(k)(4)(B), 213(a), 222(b), 
and 222(c) (15 U.S.C. 80b–3(c)(1)(A), 80b– 
3(k)(4)(B), 
80b–13(a), 
80b–18a(b), 
and 
80b– 
18a(c)); and 
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(2) in section 206(3) (15 U.S.C. 80b–6(3)), by 
inserting ‘‘or’’ after the semicolon at the end. 
SEC. 3. CONFORMING AMENDMENTS FOR THE REPEAL OF 
THE PUBLIC UTILITY HOLDING COMPANY 
ACT OF 1935. 
(a) SECURITIES EXCHANGE ACT OF 1934.—The Se-
curities Exchange Act of 1934 (15 U.S.C. 78 et seq.) is 
amended— 
(1) in section 3(a)(47) (15 U.S.C. 78c(a)(47)), 
by striking ‘‘the Public Utility Holding Company 
Act of 1935 (15 U.S.C. 79a et seq.),’’; and 
(2) in section 12(k) (15 U.S.C. 78l(k)), by 
amending paragraph (7) to read as follows:
‘‘(7) DEFINITION.—For purposes of this sub-
section, the term ‘emergency’ means— 
‘‘(A) a major market disturbance charac-
terized by or constituting— 
‘‘(i) sudden and excessive fluctuations 
of securities prices generally, or a substan-
tial threat thereof, that threaten fair and 
orderly markets; or 
‘‘(ii) a substantial disruption of the 
safe or efficient operation of the national 
system for clearance and settlement of 
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transactions in securities, or a substantial 
threat thereof; or 
‘‘(B) a major disturbance that substan-
tially disrupts, or threatens to substantially dis-
rupt— 
‘‘(i) the functioning of securities mar-
kets, investment companies, or any other 
significant portion or segment of the secu-
rities markets; or 
‘‘(ii) the transmission or processing of 
securities transactions.’’. 
(3) in section 21(h)(2) (15 U.S.C. 78u(h)(2)), 
by striking ‘‘section 18(c) of the Public Utility Hold-
ing Company Act of 1935,’’. 
(b) TRUST INDENTURE ACT OF 1939.—The Trust 
Indenture Act of 1939 (15 U.S.C. 77aaa et seq.) is 
amended— 
(1) in section 303 (15 U.S.C. 77ccc), by 
amending paragraph (17) to read as follows: 
‘‘(17) The terms ‘Securities Act of 1933’ and 
‘Securities Exchange Act of 1934’ shall be deemed 
to refer, respectively, to such Acts, as amended, 
whether amended prior to or after the enactment of 
this title.’’; 
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(2) in section 308 (15 U.S.C. 77hhh), by strik-
ing ‘‘Securities Act of 1933, the Securities Exchange 
Act of 1934, or the Public Utility Holding Company 
Act of 1935’’ each place it appears and inserting 
‘‘Securities Act of 1933 or the Securities Exchange 
Act of 1934’’; 
(3) in section 310 (15 U.S.C. 77jjj), by striking 
subsection (c) (including the preceding heading); 
(4) in section 311 (15 U.S.C. 77kkk) by strik-
ing subsection (c); 
(5) in section 323(b) (15 U.S.C. 77www(b)), by 
striking ‘‘Securities Act of 1933, or the Securities 
Exchange Act of 1934, or the Public Utility Holding 
Company Act of 1935’’ and inserting ‘‘Securities Act 
of 1933 or the Securities Exchange Act of 1934’’; 
and 
(6) in section 326 (15 U.S.C. 77zzz), by strik-
ing ‘‘Securities Act of 1933, or the Securities Ex-
change Act of 1934, or the Public Utility Holding 
Company Act of 1935,’’ and inserting ‘‘Securities 
Act of 1933 or the Securities Exchange Act of 
1934’’. 
(c) INVESTMENT COMPANY ACT OF 1940.—The In-
vestment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) 
is amended— 
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(1) in section 2(a)(44) (15 U.S.C. 80a– 
2(a)(44)), by striking ‘‘Public Utility Holding Com-
pany Act of 1935,’’; 
(2) in section 3(c) (15 U.S.C. 80a–3(c)), by 
amending paragraph (8) to read as follows: 
‘‘(8) [Repealed]’’; 
(3) in section 38(b) (15 U.S.C. 80a–37(b)), by 
striking ‘‘the Public Utility Holding Company Act of 
1935,’’; and 
(4) in section 50 (15 U.S.C. 80a–49), by strik-
ing ‘‘the Public Utility Holding Company Act of 
1935,’’. 
(d) INVESTMENT ADVISERS ACT OF 1940.—Section 
202(a)(21) of the Investment Advisers Act of 1940 (15 
U.S.C. 80b–2(a)(21)) is amended by striking ‘‘Public Util-
ity Holding Company Act of 1935,’’. 
Passed the House of Representatives September 15, 
2009. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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