42 Usc 16452

Page 8333

TITLE 42—THE PUBLIC HEALTH AND WELFARE

more other persons) so as to make it necessary for the rate protection of utility customers with respect to rates that such person be subject to the obligations, duties, and
liabilities imposed by this part upon subsidiary companies of holding companies.
(17) Voting security
The term ‘‘voting security’’ means any security presently entitling the owner or holder
thereof to vote in the direction or management of the affairs of a company.
(Pub. L. 109–58, title XII, § 1262, Aug. 8, 2005, 119
Stat. 972.)
REFERENCES IN TEXT
This part, referred to in text, was in the original
‘‘this subtitle’’, meaning subtitle F (§§ 1261–1277) of title
XII of Pub. L. 109–58, Aug. 8, 2005, 119 Stat. 972, which
enacted this part, amended sections 824 and 824m of
Title 16, Conservation, repealed chapter 2C (§ 79 et seq.)
of Title 15, Commerce and Trade, and section 825q of
Title 16, and enacted provisions set out as notes under
this section and section 15801 of this title. For complete
classification of subtitle F to the Code, see Short Title
note set out under section 15801 of this title and Tables.
For the effective date of this part, referred to in par.
(6), see Effective Date note set out below.
EFFECTIVE DATE
Pub. L. 109–58, title XII, § 1274, Aug. 8, 2005, 119 Stat.
977, provided that:
‘‘(a) IN GENERAL.—Except for section 1272 [42 U.S.C.
16460] (relating to implementation), this subtitle [subtitle F (§§ 1261 to 1277) of title XII of Pub. L. 109–58, enacting this part, amending sections 824 and 824m of
Title 16, Conservation, repealing chapter 2C (§ 79 et seq.)
of Title 15, Commerce and Trade, and section 825q of
Title 16, and enacting provisions set out as a note under
section 15801 of this title] shall take effect 6 months
after the date of enactment of this subtitle [Aug. 8,
2005].
‘‘(b) COMPLIANCE WITH CERTAIN RULES.—If the [Federal Energy Regulatory] Commission approves and
makes effective any final rulemaking modifying the
standards of conduct governing entities that own, operate, or control facilities for transmission of electricity
in interstate commerce or transportation of natural
gas in interstate commerce prior to the effective date
of this subtitle, any action taken by a public-utility
company or utility holding company to comply with
the requirements of such rulemaking shall not subject
such public-utility company or utility holding company to any regulatory requirement applicable to a
holding company under the Public Utility Holding
Company Act of 1935 (15 U.S.C. 79 et seq.).’’
SHORT TITLE
For short title of subtitle F of title XII of Pub. L.
109–58, which enacted this part, as the ‘‘Public Utility
Holding Company Act of 2005’’, see section 1261 of Pub.
L. 109–58, set out as a note under section 15801 of this
title.

§ 16452. Federal access to books and records
(a) In general
Each holding company and each associate
company thereof shall maintain, and shall make
available to the Commission, such books, accounts, memoranda, and other records as the
Commission determines are relevant to costs incurred by a public utility or natural gas company that is an associate company of such holding company and necessary or appropriate for
the protection of utility customers with respect
to jurisdictional rates.

§ 16453

(b) Affiliate companies
Each affiliate of a holding company or of any
subsidiary company of a holding company shall
maintain, and shall make available to the Commission, such books, accounts, memoranda, and
other records with respect to any transaction
with another affiliate, as the Commission determines are relevant to costs incurred by a public
utility or natural gas company that is an associate company of such holding company and necessary or appropriate for the protection of utility customers with respect to jurisdictional
rates.
(c) Holding company systems
The Commission may examine the books, accounts, memoranda, and other records of any
company in a holding company system, or any
affiliate thereof, as the Commission determines
are relevant to costs incurred by a public utility
or natural gas company within such holding
company system and necessary or appropriate
for the protection of utility customers with respect to jurisdictional rates.
(d) Confidentiality
No member, officer, or employee of the Commission shall divulge any fact or information
that may come to his or her knowledge during
the course of examination of books, accounts,
memoranda, or other records as provided in this
section, except as may be directed by the Commission or by a court of competent jurisdiction.
(Pub. L. 109–58, title XII, § 1264, Aug. 8, 2005, 119
Stat. 974.)
§ 16453. State access to books and records
(a) In general
Upon the written request of a State commission having jurisdiction to regulate a publicutility company in a holding company system,
the holding company or any associate company
or affiliate thereof, other than such public-utility company, wherever located, shall produce for
inspection books, accounts, memoranda, and
other records that—
(1) have been identified in reasonable detail
in a proceeding before the State commission;
(2) the State commission determines are relevant to costs incurred by such public-utility
company; and
(3) are necessary for the effective discharge
of the responsibilities of the State commission
with respect to such proceeding.
(b) Limitation
Subsection (a) does not apply to any person
that is a holding company solely by reason of
ownership of one or more qualifying facilities
under the Public Utility Regulatory Policies
Act of 1978 (16 U.S.C. 2601 et seq.).
(c) Confidentiality of information
The production of books, accounts, memoranda, and other records under subsection (a)
shall be subject to such terms and conditions as
may be necessary and appropriate to safeguard
against unwarranted disclosure to the public of
any trade secrets or sensitive commercial information.
(d) Effect on State law
Nothing in this section shall preempt applicable State law concerning the provision of books,