U.S. Code > Title 42 The Public Health and Welfare > CHAPTER 149—NATIONAL ENERGY POLICY AND PROGRAMS > SUBCHAPTER XII—ELECTRICITY > Part D—Repeal of Public Utility Holding Company Act of 1935 > § 16454. Exemption authority

§ 16454. Exemption authority

(a) Rulemaking
Not later than 90 days after the effective date of this part, the Commission shall issue a final rule to exempt from the requirements of section 16452 of this title (relating to Federal access to books and records) any person that is a holding company, solely with respect to one or more—
(1) qualifying facilities under the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2601 et seq.);
(2) exempt wholesale generators; or
(3) foreign utility companies.
(b) Other authority
The Commission shall exempt a person or transaction from the requirements of section 16452 of this title (relating to Federal access to books and records) if, upon application or upon the motion of the Commission—
(1) the Commission finds that the books, accounts, memoranda, and other records of any person are not relevant to the jurisdictional rates of a public utility or natural gas company; or
(2) the Commission finds that any class of transactions is not relevant to the jurisdictional rates of a public utility or natural gas company.