18 Cfr 45.9

Federal Energy Regulatory Commission
CROSS REFERENCE: For rules and regulations of the Securities and Exchange Commission, see 17 CFR, chap. II.

§ 45.9 Automatic authorization of certain interlocking positions.
(a) Applicability. Subject to paragraphs (b) and (c) of this section, the
Commission authorizes any officer or
director of a public utility to hold the
following interlocking positions:
(1) Officer or director of one or more
other public utilities if the same holding company owns, directly or indirectly, that percentage of each utility’s
stock (of whatever class or classes)
which is required by each utility’s bylaws to elect directors;
(2) Officer or director of two public
utilities, if one utility is owned, wholly
or in part, by the other and, as its primary business, owns or operates transmission or generating facilities to provide transmission service or electric
power for sale to its owners; and
(3) Officer or director of more than
one public utility, if such officer or director is already authorized under this
part to hold different positions as officer or director of those utilities where
the interlock involves affiliated public
utilities.
(b) Conditions of authorization. As a
condition of authorization, any person
authorized to hold interlocking positions under this section must submit,
prior to performing or assuming the
duties and responsibilities of the position, an informational report in accordance with paragraph (c) of this section, unless that person is already authorized to hold interlocking positions
of the type governed by this section.
Failure to timely file the informational report will constitute a failure
to satisfy this condition, and will constitute automatic denial.
(c) Informational report. An informational report required under paragraph
(b) of this section must state:
(1) The full name and business address of the person required to submit
this report;
(2) The names of all public utilities
with which the person holds or will
hold the positions of officer or director
and a description of those positions;
(3) The names of any entity, other
than those listed in paragraph (c)(2) of
this section, of which the person is an

§ 46.2
officer or director and a description of
those positions; and
(4) An explanation of the corporate
relationship between or among the
public utilities listed in paragraph
(c)(2) of this section which qualifies the
person for automatic authorization
under this section.
(5) A statement or an affirmation
that the applicant has not yet performed or assumed the duties or responsibilities of the position which necessitated the filing of this informational report.
[Order 446, 51 FR 4905, Feb. 10, 1986, as
amended by Order 664, 70 FR 55723, Sept. 23,
2005]

PART 46—PUBLIC UTILITY FILING REQUIREMENTS AND FILING REQUIREMENTS
FOR
PERSONS
HOLDING INTERLOCKING POSITIONS
Sec.
46.1 Purpose.
46.2 Definitions.
46.3 Purchaser list.
46.4 General rule.
46.5 Covered entities.
46.6 Contents of the statement and procedures for filing.
AUTHORITY: 16 U.S.C. 792–828c; 16 U.S.C.
2601–2645; 42 U.S.C. 7101–7352; E.O. 12009, 3
CFR 142.
SOURCE: 45 FR 23418, Apr. 7, 1980, unless
otherwise noted.

§ 46.1

Purpose.

The purpose of this part is to implement section 305(c) of the Federal
Power Act, as amended by section 211
of the Public Utility Regulatory Policies Act of 1978.
[Order 67, 45 FR 3569, Jan. 18, 1980]

§ 46.2

Definitions.

For the purpose of this part:
(a) Public utility has the same meaning as in section 201(e) of the Federal
Power Act and further includes any
company which is part of a holding
company system which includes a registered holding company unless no
company in such system is an electric
utility within the meaning of section 3
of the Federal Power Act. Such term

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