Public Utility Financial Reform Act

Summary

Public Utility Financial Reform Act - Amends the Public Utility Holding Company Act of 1935 to provide a new exemption from the provisions of such Act (except the prohibition on acquisitions without SEC approval of public-utility company securities by any persons who are affiliates of such company) for a holding company with one subsidiary public-utility company whose operations do not extend beyond the State in which it is organized and States contiguous to such State. Declares that the exemption of a holding company shall not be affected by the ownership of a public-utility company by a public-utility subsidiary of such holding company if the holding company is predominantly a public-utility company whose operations do not extend beyond the State in which it is organized and States contiguous to such State. Permits a holding company which is exempt under this Act to engage in any business, but requires that any such business which is not incidental or necessary to the operation of a public-utility company be conducted through a separate nonutility subsidiary of such holding company.

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1 official file

• Introduced in House

  summary · EN · 15 December 1981

  Open at official source

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