106 STAT. 2912 PUBLIC LAW 102-486—OCT. 24, 1992 "(3) Any United States district court located in the State in which the State commission referred to in paragraph (1) is located shall have jurisdiction to enforce compliance with this subsection. "(4) Nothing in this section shall— "(A) preempt applicable State law concerning the provision of records and other information; or "(B) in any way limit rights to obtain records and other information under Federal law, contracts, or otherwise. "(5) As used in this subsection the terms 'affiliate', 'associate company*, 'electric utility company*, 'holding company*, 'subsidiary company*, and 'exempt wholesale generator' shall have the same meaning as when used in the Public Utility Holding Company Act of 1935.**. SEC. 715. INVESTMENT IN FOREIGN UTILITIES. The Public Utility Holding Company Act of 1935 (15 U.S.C. 79 et seq.) is amended by inserting after section 32 the following new section: 15 USC 79z-5b. " SEC. 33. TREATMENT OF FOREIGN UTIUTIES. "(a) EXEMPTIONS FOR FOREIGN UTILITY COMPANIES.— "(1) IN GENERAL.— ^A foreign utility company shall be exempt from all of the provisions of this Act, except as otherwise provided under this section, and shall not, for any purpose under this Act, be deemed to be a public utility company under section 2(a)(5), notwithstanding that the foreign utility company may be a subsidiary company, an affiliate, or an associate company of a holding company or of a public utility company. "(2) STATE COMMISSION CERTIFICATION.— Section (a)(1) shall not apply or be effective unless every State commission having jurisdiction over the retail electric or gas rates of a public utility company that is an associate company or an affiliate of a company otherwise exempted under section (a)(1) (other than a public utility company that is an associate company or an affiliate of a registered holding company) has certified to the Commission that it has the authority and resources to protect ratepayers subject to its jurisdiction and that it . intends to exercise its authority. Sucn certification, upon the filing of a notice by such State commission, may be revised or withdrawn by the State commission prospectively as to any future acquisition. The requirement of State certification shall be deemed satisfied if the relevant State commission had, prior to the date of enactment of this section, on the basis of pre-
- scribed conditions of general applicability, determined that ratepayers of a public utility company are adequately insulated
•- from the effiBcts of diversification and the diversification would not impair the ability of the State commission to regulate effectively the operations of such company. "(3) DEFINITION. —For purposes of this section, the term 'foreign utility company* means any company that— "(A) owns or operates facilities that are not located in any State and that are used for the generation, transmission, or distribution of electric energy for sale or the distribution at retail of natural or manufactured gas for '••-. heat, light, or power, if such company— "(i) derives no part of its income, directly or indirectly, from the generation, transmission, or dis-
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