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HR 2682 EHPCS
112th CONGRESS
2d Session
H. R. 2682
IN THE SENATE OF THE UNITED STATES
March 27, 2012
Received; read the first time
March 28, 2012
Read the second time and placed on the calendar
AN ACT
To provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
SEC. 2. MARGIN REQUIREMENTS.
(a) Commodity Exchange Act Amendment- Section 4s(e) of the Commodity Exchange Act (7 U.S.C. 6s(e)), as added by section 731 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended by adding at the end the following new paragraph:
‘(4) APPLICABILITY WITH RESPECT TO COUNTERPARTIES- The requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not apply to a swap in which a counterparty qualifies for an exception under section 2(h)(7)(A) or satisfies the criteria in section 2(h)(7)(D).’.
(b) Securities Exchange Act Amendment- Section 15F(e) of the Securities Exchange Act of 1934 (15 U.S.C. 78o-10(e)), as added by section 764(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, is amended by adding at the end the following new paragraph:
‘(4) APPLICABILITY WITH RESPECT TO COUNTERPARTIES- The requirements of paragraphs (2)(A)(ii) and (2)(B)(ii) shall not apply to a security-based swap in which a counterparty qualifies for an exception under section 3C(g)(1) or satisfies the criteria in section 3C(g)(4).’.
SEC. 3. IMPLEMENTATION.
The amendments made by this Act to the Commodity Exchange Act shall be implemented--
(1) without regard to--
(A) chapter 35 of title 44, United States Code; and
(B) the notice and comment provisions of section 553 of title 5, United States Code;
(2) through the promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued; and
(3) such that paragraph (1) shall apply solely to changes to rules and regulations, or proposed rules and regulations, that are limited to and directly a consequence of such amendments.
Passed the House of Representatives March 26, 2012.
Attest:
Clerk.
KAREN L. HAAS,
112th CONGRESS
2d Session
H. R. 2682
AN ACT
To provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934, and for other purposes.
March 28, 2012
Read the second time and placed on the calendar
U.S. Congress - Text of H.R.2682 as Placed on Calendar Senate Business Risk Mitigation and Price Stabilization Act of 2012
