16 U.S. Code § 824b - Disposition of property; consolidations; purchase of securities

(a) Authorization
(1) No public utility shall, without first having secured an order of the Commission authorizing it to do so—
(A) 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 $10,000,000;
(B) merge or consolidate, directly or indirectly, such facilities or any part thereof with those of any other person, by any means whatsoever;
(C) purchase, acquire, or take any security with a value in excess of $10,000,000 of any other public utility; or
(D) purchase, lease, or otherwise acquire an existing generation facility—
(i) that has a value in excess of $10,000,000; and
(ii) that is used for interstate wholesale sales and over which the Commission has jurisdiction for ratemaking purposes.
(2) No holding company in a holding company system that includes a transmitting utility or an electric utility shall purchase, acquire, or take any security with a value in excess of $10,000,000 of, or, by any means whatsoever, directly or indirectly, merge or consolidate with, a transmitting utility, an electric utility company, or a holding company in a holding company system that includes a transmitting utility, or an electric utility company, with a value in excess of $10,000,000 without first having secured an order of the Commission authorizing it to do so.
(3) Upon receipt of an 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.
(4) After notice and opportunity for hearing, the Commission shall approve the proposed disposition, consolidation, acquisition, or change in control, if it finds that the proposed transaction will be consistent with the public interest, and will not result in cross-subsidization of a non-utility associate company or the pledge or encumbrance of utility assets for the benefit of an associate company, unless the Commission determines that the cross-subsidization, pledge, or encumbrance will be consistent with the public interest.
(5) The Commission shall, by rule, adopt procedures for the expeditious consideration of applications for the approval of dispositions, consolidations, or acquisitions, under this section. Such rules shall identify classes of transactions, or specify criteria for transactions, that normally meet the standards established in paragraph (4). The Commission shall provide expedited review for such transactions. The Commission shall grant or deny any other application for approval of a transaction not later than 180 days after the application is filed. If the Commission does not act within 180 days, such application shall be deemed granted unless the Commission finds, based on good cause, that further consideration is required to determine whether the proposed transaction meets the standards of paragraph (4) and issues an order tolling the time for acting on the application for not more than 180 days, at the end of which additional period the Commission shall grant or deny the application.
(6) For purposes of this subsection, the terms “associate company”, “holding company”, and “holding company system” have the meaning given those terms in the Public Utility Holding Company Act of 2005 [42 U.S.C. 16451 et seq.].
(b) Orders of Commission
The Commission may grant any application for an order under this section in whole or in part and upon such terms and conditions as it finds necessary or appropriate to secure the maintenance of adequate service and the coordination in the public interest of facilities subject to the jurisdiction of the Commission. The Commission may from time to time for good cause shown make such orders supplemental to any order made under this section as it may find necessary or appropriate.

Source

(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.)
References in Text

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.
Amendments

2005—Subsec. (a). Pub. L. 109–58amended 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.”
Effective Date of 2005 Amendment

Pub. L. 109–58, title XII, § 1289(b), (c),Aug. 8, 2005, 119 Stat. 983, provided that:
“(b) Effective Date.—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].”

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


18 CFR - Conservation of Power and Water Resources

18 CFR Part 1b - RULES RELATING TO INVESTIGATIONS

18 CFR Part 1c - PROHIBITION OF ENERGY MARKET MANIPULATION

18 CFR Part 2 - GENERAL POLICY AND INTERPRETATIONS

18 CFR Part 3 - [Reserved]

18 CFR Part 5 - INTEGRATED LICENSE APPLICATION PROCESS

18 CFR Part 8 - RECREATIONAL OPPORTUNITIES AND DEVELOPMENT AT LICENSED PROJECTS

18 CFR Part 11 - ANNUAL CHARGES UNDER PART I OF THE FEDERAL POWER ACT

18 CFR Part 12 - SAFETY OF WATER POWER PROJECTS AND PROJECT WORKS

18 CFR Part 16 - PROCEDURES RELATING TO TAKEOVER AND RELICENSING OF LICENSED PROJECTS

18 CFR Part 24 - DECLARATION OF INTENTION

18 CFR Part 32 - INTERCONNECTION OF FACILITIES

18 CFR Part 33 - APPLICATIONS UNDER FEDERAL POWER ACT SECTION 203

18 CFR Part 34 - APPLICATION FOR AUTHORIZATION OF THE ISSUANCE OF SECURITIES OR THE ASSUMPTION OF LIABILITIES

18 CFR Part 35 - FILING OF RATE SCHEDULES AND TARIFFS

18 CFR Part 36 - RULES CONCERNING APPLICATIONS FOR TRANSMISSION SERVICES UNDER SECTION 211 OF THE FEDERAL POWER ACT

18 CFR Part 37 - OPEN ACCESS SAME-TIME INFORMATION SYSTEMS

18 CFR Part 41 - ACCOUNTS, RECORDS, MEMORANDA AND DISPOSITION OF CONTESTED AUDIT FINDINGS AND PROPOSED REMEDIES

18 CFR Part 42 - LONG-TERM FIRM TRANSMISSION RIGHTS IN ORGANIZED ELECTRICITY MARKETS

18 CFR Part 45 - APPLICATION FOR AUTHORITY TO HOLD INTERLOCKING POSITIONS

18 CFR Part 46 - PUBLIC UTILITY FILING REQUIREMENTS AND FILING REQUIREMENTS FOR PERSONS HOLDING INTERLOCKING POSITIONS

18 CFR Part 101 - UNIFORM SYSTEM OF ACCOUNTS PRESCRIBED FOR PUBLIC UTILITIES AND LICENSEES SUBJECT TO THE PROVISIONS OF THE FEDERAL POWER ACT

18 CFR Part 131 - FORMS

18 CFR Part 141 - STATEMENTS AND REPORTS (SCHEDULES)

18 CFR Part 154 - RATE SCHEDULES AND TARIFFS

18 CFR Part 225 - PRESERVATION OF RECORDS OF NATURAL GAS COMPANIES

18 CFR Part 260 - STATEMENTS AND REPORTS (SCHEDULES)

18 CFR Part 290 - COLLECTION OF COST OF SERVICE INFORMATION UNDER SECTION 133 OF THE PUBLIC UTILITY REGULATORY POLICIES ACT OF 1978

18 CFR Part 292 - REGULATIONS UNDER SECTIONS 201 AND 210 OF THE PUBLIC UTILITY REGULATORY POLICIES ACT OF 1978 WITH REGARD TO SMALL POWER PRODUCTION AND COGENERATION

18 CFR Part 294 - PROCEDURES FOR SHORTAGES OF ELECTRIC ENERGY AND CAPACITY UNDER SECTION 206 OF THE PUBLIC UTILITY REGULATORY POLICIES ACT OF 1978

18 CFR Part 358 - STANDARDS OF CONDUCT

18 CFR Part 375 - THE COMMISSION

18 CFR Part 381 - FEES

18 CFR Part 382 - ANNUAL CHARGES

18 CFR Part 385 - RULES OF PRACTICE AND PROCEDURE

18 CFR Part 390 - ELECTRONIC REGISTRATION

 

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