Section 986

SEC. 986. CONFORMING AMENDMENTS RELATING TO REPEAL OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935.

(a) Securities Exchange Act of 1934.--The Securities 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.),";
(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 subsection, the term `emergency' means--

"(A) a major market disturbance characterized by or constituting--

"(i) sudden and excessive fluctuations of securities prices generally, or a substantial 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 transactions in
securities, or a substantial threat thereof; or

"(B) a major disturbance that substantially disrupts, or threatens to substantially disrupt--

"(i) the functioning of securities markets, investment companies, or any other significant portion or segment of the securities markets; or
"(ii) the transmission or processing of securities transactions."; and

(3) in section 21(h)(2) (15 U.S.C. 78u(h)(2)), by striking "section 18(c) of the Public Utility Holding 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 striking paragraph (17) and inserting the following:

"(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.";

(2) in section 308 (15 U.S.C. 77hhh), by striking "Securities Act of 1933, the Securities Exchange Act of 1934, or the Public Utility Holding Company Act of 1935" each place that term 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);
(4) in section 311 (15 U.S.C. 77kkk), by striking 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 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".

(c) Investment Company Act of 1940.--The Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) is amended--

(1) in section 2(a)(44) (15 U.S.C. 80a-2(a)(44)), by striking " `Public Utility Holding Company Act of 1935',";
(2) in section 3(c) (15 U.S.C. 80a-3(c)), by striking paragraph (8) and inserting the following:

"(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 striking "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 Utility Holding Company Act of 1935',".