118 STAT. 1666 PUBLIC LAW 108–359—OCT. 25, 2004 Public Law 108–359 108th Congress An Act To amend the securities laws to permit church pension plans to be invested in collective trusts. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. CONFORMING AMENDMENTS FOR CHURCH PLAN PARTICI PATION IN COLLECTIVE FUNDS. (a) AMENDMENT TO THE INVESTMENT COMPANY ACT OF 1940.— Section 3(c)(11) of the Investment Company Act of 1940 (15 U.S.C. 80a 3(c)(11)) is amended by striking ‘‘such trusts or government plans, or both’’ and inserting ‘‘one or more of such trusts, govern ment plans, or church plans, companies or accounts that are excluded from the definition of an investment company under para graph (14) of this subsection’’. (b) AMENDMENTS TO THE SECURITIES ACT OF 1933.—Section 3(a)(2) of the Securities Act of 1933 (15 U.S.C. 77c(a)(2)) is amended— (1) by striking ‘‘or’’ at the end of clause (B); and (2) by striking ‘‘other than any plan described in clause (A), (B), or (C)’’ and inserting the following: ‘‘or (D) a church plan, company, or account that is excluded from the definition of an investment company under section 3(c)(14) of the Invest ment Company Act of 1940, other than any plan described in subparagraph (A), (B), (C), or (D)’’. (c) AMENDMENTS TO THE SECURITIES EXCHANGE ACT OF 1934.— (1) Section 3(a)(12)(C) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(12)(C)) is amended— (A) by striking ‘‘or’’ at the end of clause (ii); and (B) by inserting before ‘‘other than any plan described in clause (i)’’ the following: ‘‘or (iv) a church plan, company, or account that is excluded from the definition of an invest ment company under section 3(c)(14) of the Investment Company Act of 1940,’’. (2) Section 12(g)(2)(H) of the Securities Exchange Act of 1934 (15 U.S.C. 78l(g)(2)(H)) is amended— (A) by striking ‘‘or’’ at the end of clause (i); and (B) by inserting before the period at the end the fol lowing: ‘‘, or (iii) a church plan, company, or account that is excluded from the definition of an investment company Oct. 25, 2004 [H.R. 1533]
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