[Code of Federal Regulations]
[Title 18, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 18CFR20.1]

[Page 225-226]
 
           TITLE 18--CONSERVATION OF POWER AND WATER RESOURCES
 
  CHAPTER I--FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY
 
PART 20_AUTHORIZATION OF THE ISSUANCE OF SECURITIES BY LICENSEES AND 
 
Sec. 20.1  Applicability.

COMPANIES SUBJECT TO SECTIONS 19 AND 20 OF THE FEDERAL POWER ACT--Table 
of Contents




Sec.
20.1 Applicability.
20.2 Regulation of issuance of securities.

    Authority: Secs. 3(16), 19, 20, 41 Stat. 1063, 1073; secs. 201, 309, 
49 Stat. 838, 858; 16 U.S.C. 796 (16), 812, 813, 825k.

    Source: Order 170, 19 FR 2013, Apr. 8, 1954, unless otherwise noted.


    (a) Without special proceeding for regulation. Every security issue 
within the scope of the jurisdiction conferred upon

[[Page 226]]

the Commission by sections 19 and 20 of the Federal Power Act shall be 
subject to the provisions of Sec. 20.2, except a security issue by a 
person organized and operating in a State under the laws of which its 
security issues are regulated by a State commission, or by any one 
described in subsection 201(f) of the act. No other security issue 
within the scope of sections 19 and 20 shall be subject to Sec. 20.2 
except as provided in paragraph (b) of this section.
    (b) Reservation of possibility of regulation in other cases. Not 
later than 10 days prior to any proposed security issuance which is 
within the scope of section 19 or section 20 of the act, but excepted by 
paragraph (a) of this section, any person or state entitled to do so 
under section 19 or section 20, may file a complaint or request in 
accordance with the applicable rules of the Commission, or the 
Commission upon its own motion may by order initiate a proceeding, 
raising the question whether issuance of such security should be 
subjected by Commission order to the provisions of Sec. 20.2. After 
notice of such filing or order, and until such request or complaint is 
denied or dismissed or the proceeding initiated by such order is 
terminated without subjecting the issuance of the security to the 
provisions of Sec. 20.2, the security in question shall not be issued 
except it be issued subject to and in compliance with Sec. 20.2.