Source: https://www.law.cornell.edu/uscode/text/16/824b
Timestamp: 2017-07-23 00:57:04
Document Index: 177661743

Matched Legal Cases: ['§ 824', '§\u202f824', '§\u202f203', '§\u202f213', '§\u202f1289', '§\u202f16451', '§\u202f1289']

16 U.S. Code § 824b - Disposition of property; consolidations; purchase of securities | US Law | LII / Legal Information Institute
§ 824b.
Disposition of property; consolidations; purchase of securities
(1) No public utility shall, without first having secured an order of the Commission authorizing it to do so—
(D) purchase, lease, or otherwise acquire an existing generation facility—
(June 10, 1920, ch. 285, pt. II, § 203, as added Aug. 26, 1935, ch. 687, title II, § 213, 49 Stat. 849; amended Pub. L. 109–58, title XII, § 1289(a), Aug. 8, 2005, 119 Stat. 982.)
The Public Utility Holding Company Act of 2005, referred to in subsec. (a)(6), is subtitle F of title XII of Pub. L. 109–58, Aug. 8, 2005, 119 Stat. 972, which is classified principally to part D (§ 16451 et seq.) of subchapter XII of chapter 149 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 15801 of Title 42 and Tables.
2005—Subsec. (a). Pub. L. 109–58 amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: “No public utility shall sell, lease, or otherwise dispose of the whole of its facilities subject to the jurisdiction of the Commission, or any part thereof of a value in excess of $50,000, or by any means whatsoever, directly or indirectly, merge or consolidate such facilities or any part thereof with those of any other person, or purchase, acquire, or take any security of any other public utility, without first having secured an order of the Commission authorizing it to do so. Upon application for such approval the Commission shall give reasonable notice in writing to the Governor and State commission of each of the States in which the physical property affected, or any part thereof, is situated, and to such other persons as it may deem advisable. After notice and opportunity for hearing, if the Commission finds that the proposed disposition, consolidation, acquisition, or control will be consistent with the public interest, it shall approve the same.”
Pub. L. 109–58, title XII, § 1289(b), (c), Aug. 8, 2005, 119 Stat. 983, provided that:
The amendments made by this section [amending this section] shall take effect 6 months after the date of enactment of this Act [Aug. 8, 2005].
“(c)Transition Provision.—
The amendments made by subsection (a) [amending this section] shall not apply to any application under section 203 of the Federal Power Act (16 U.S.C. 824b) that was filed on or before the date of enactment of this Act [Aug. 8, 2005].”