(1) by striking `to:' and inserting `to--';
(2) by redesignating subsections (a), (b), (c), (d), (e), (f), and (g) as paragraphs (1), (2), (3), (4), (5), (7), and (8), respectively, and indenting appropriately;
(3) in paragraph (7) (as redesignated by paragraph (2)), by designating paragraphs (1), (2), and (3) as subparagraphs (A), (B), and (C), respectively;
(4) in paragraph (8) (as redesignated by paragraph (2)), by striking `subdivision (a), (b), (c), (d), or (e)' and inserting `paragraph (1), (2), (3), (4), (5), or (6)';
(5) in each of paragraphs (1), (2), (3), (4), (5), (7), and (8) (as redesignated by paragraph (2)), by striking the first capital letter of the first word in the paragraph and inserting the same letter in the lower case;
(6) in each of paragraphs (1) through (5) (as redesignated by paragraph (2)), by striking `or' at the end; and
(7) by inserting after paragraph (5) (as redesignated by paragraph (2)) the following:
`(6) use, in effectuating any sale of livestock, a forward contract that--
`(A) does not contain a firm base price that may be equated to a fixed dollar amount on the day on which the forward contract is entered into;
`(B) is not offered for bid in an open, public manner under which--
`(i) buyers and sellers have the opportunity to participate in the bid;
`(ii) more than 1 blind bid is solicited; and
`(iii) buyers and sellers may witness bids that are made and accepted;
`(C) is based on a formula price; or
`(D) provides for the sale of livestock in a quantity in excess of--
`(i) in the case of cattle, 40 cattle;
`(ii) in the case of swine, 30 swine; and
`(iii) in the case of other types of livestock, a comparable quantity of the type of livestock determined by the Secretary.'.
U.S. Congress - Text of S.1017 as Introduced in Senate Captive Supply Reform Act
