article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Securities Law Technical Corrections Act of 2007''. SEC. 2. TECHNICAL CORRECTIONS. (a) Securities Act of 1933.--The Securities Act of 1933 (15 U.S.C. 77a et seq.) is amended-- (1) in section 3(a)(4) (15 U.S.C. 77c(a)(4)), by striking ``individual;'' and inserting ``individual,''; (2) in section 18(b)(1)(C) (15 U.S.C. 77r(b)(1)(C)), by striking ``is a security'' and inserting ``a security''; (3) in section 18(c)(2)(B)(i) (15 U.S.C. 77r(c)(2)(B)(i)), by striking ``State, or'' and inserting ``State or''; (4) in section 19(d)(6)(A) (15 U.S.C. 77s(d)(6)(A)), by striking ``in paragraph (1) of (3)'' and inserting ``in paragraph (1) or (3)''; and (5) in section 27A(c)(1)(B)(ii) (15 U.S.C. 77z- 2(c)(1)(B)(ii)), by striking ``business entity;'' and inserting ``business entity,''. (b) Securities Exchange Act of 1934.--The Securities Exchange Act of 1934 (15 U.S.C. 78 et seq.) is amended-- (1) in section 2(1)(a) (15 U.S.C. 78b(1)(a)), by striking ``affected'' and inserting ``effected''; (2) in section 3(a)(55)(A) (15 U.S.C. 78c(a)(55)(A)), by striking ``section 3(a)(12) of the Securities Exchange Act of 1934'' and inserting ``section 3(a)(12) of this Act''; (3) in section 3(g) (15 U.S.C. 78c(g)), by striking ``company, account person, or entity'' and inserting ``company, account, person, or entity''; (4) in section 10A(i)(1)(B)(i) (15 U.S.C. 78j- 1(i)(1)(B)(i)), by striking ``nonaudit'' and inserting ``non- audit''; (5) in section 13(b)(1) (15 U.S.C. 78m(b)(1)), by striking ``earning statement'' and inserting ``earnings statement''; (6) in section 15(b)(1) (15 U.S.C. 78o(b)(1))-- (A) by striking the sentence beginning ``The order granting'' and ending ``from such membership.'' in subparagraph (B); and (B) inserting such sentence in the matter following such subparagraph after ``are satisfied.''; (7) in section 15 (15 U.S.C. 78o), redesignate subsection (i), as added by section 303(f) of the Commodity Futures Modernization Act of 2000 (114 Stat. 2763A-455), as subsection (j); (8) in section 15C(a)(2) (15 U.S.C. 78o-5(a)(2))-- (A) by redesignating clauses (i) and (ii) as subparagraphs (A) and (B), respectively; (B) by striking the sentence beginning ``The order granting'' and ending ``from such membership.'' in such redesignated subparagraph (B); and (C) inserting such sentence in the matter following such redesignated subparagraph after ``are satisfied.''; (9) in section 16(a)(2)(C) (15 U.S.C. 78p(a)(2)(C)), by striking ``section 206(b)'' and inserting ``section 206B''; (10) in section 17(b)(1)(B) (15 U.S.C. 78q(b)(1)(B)), by striking ``15A(k) gives'' and inserting ``15A(k), give''; and (11) in section 21C(c)(2) (15 U.S.C. 78u-3(c)(2)), by striking ``paragraph (1) subsection'' and inserting ``Paragraph (1)''. (c) Trust Indenture Act of 1939.--The Trust Indenture Act of 1939 (15 U.S.C. 77aaa et seq.) is amended-- (1) in section 304(b) (15 U.S.C. 77ddd(b)), by striking ``section 2 of such Act'' and inserting ``section 2(a) of such Act''; (2) in section 313(a)(4) (15 U.S.C. 77mmm(a)(4)) by striking ``subsection 311'' and inserting ``section 311(b)''; and (3) in section 317(a)(1) (15 U.S.C. 77qqq(a)(1)), by striking ``(1),'' and inserting ``(1)''. (d) Investment Company Act of 1940.--The Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) is amended-- (1) in section 2(a)(19) (15 U.S.C. 80a-2(a)(19)) by striking ``clause (vi)'' both places it appears in the last two sentences and inserting ``clause (vii)''; (2) in section 9(b)(4)(B) (15 U.S.C. 80a-9(b)(4)(B)), by inserting ``or'' after the semicolon at the end; (3) in section 12(d)(1)(J) (15 U.S.C. 80a-12(d)(1)(J)), by striking ``any provision of this subsection'' and inserting ``any provision of this paragraph''; (4) in section 13(a)(3) (15 U.S.C. 80a-13(a)(3)), by inserting ``or'' after the semicolon at the end; (5) in section 17(f)(4) (15 U.S.C. 80a-17(f)(4)), by striking ``No such member'' and inserting ``No member of a national securities exchange''; (6) in section 17(f)(6) (15 U.S.C. 80a-17(f)(6)), by striking ``company may serve'' and inserting ``company, may serve''; and (7) in section 61(a)(3)(B)(iii) (15 U.S.C. 80a- 60(a)(3)(B)(iii))-- (A) by striking ``paragraph (1) of section 205'' and inserting ``section 205(a)(1)''; and (B) by striking ``clause (A) or (B) of that section'' and inserting ``section 205(b)(1) or (2)''. (e) Investment Advisers Act of 1940.--The Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.) is amended-- (1) in each of the following sections, by striking ``principal business office'' or ``principal place of business'' (whichever and wherever it appears) and inserting ``principal office and place of business'': sections 203(c)(1)(A), 203(k)(4)(B), 213(a), 222(b), and 222(c) (15 U.S.C. 80b-3(c)(1)(A), 80b-3(k)(4)(B), 80b-13(a), 80b-18a(b), and 80b-18a(c)); and (2) in section 206(3) (15 U.S.C. 80b-6(3)), by inserting ``or'' after the semicolon at the end. SEC. 3. CONFORMING AMENDMENTS FOR THE REPEAL OF THE PUBLIC UTILITIES HOLDING COMPANY ACT OF 1935. (a) Securities Exchange Act of 1934.--The Securities Exchange Act of 1934 (15 U.S.C. 78 et seq.) is amended-- (1) in section 3(a)(47) (15 U.S.C. 78c(a)(47)), by striking ``the Public Utility Holding Company Act of 1935 (15 U.S.C. 79a et seq.),''; and (2) in section 12(k) (15 U.S.C. 78l(k)), by amending paragraph (7) to read as follows: ``(7) Definition.--For purposes of this subsection, the term `emergency' means-- ``(A) a major market disturbance characterized by or constituting-- ``(i) sudden and excessive fluctuations of securities prices generally, or a substantial threat thereof, that threaten fair and orderly markets; or ``(ii) a substantial disruption of the safe or efficient operation of the national system for clearance and settlement of transactions in securities, or a substantial threat thereof; or ``(B) a major disturbance that substantially disrupts, or threatens to substantially disrupt-- ``(i) the functioning of securities markets, investment companies, or any other significant portion or segment of the securities markets; or ``(ii) the transmission or processing of securities transactions.''. (3) in section 21(h)(2) (15 U.S.C. 78u(h)(2)), by striking ``section 18(c) of the Public Utility Holding Company Act of 1935,''. (b) Trust Indenture Act of 1939.--The Trust Indenture Act of 1939 (15 U.S.C. 77aaa et seq.) is amended-- (1) in section 303 (15 U.S.C. 77ccc), by amending paragraph (17) to read as follows: ``(17) The terms `Securities Act of 1933' and `Securities Exchange Act of 1934' shall be deemed to refer, respectively, to such Acts, as amended, whether amended prior to or after the enactment of this title.''; (2) in section 308 (15 U.S.C. 77hhh), by striking ``Securities Act of 1933, the Securities Exchange Act of 1934, or the Public Utility Holding Company Act of 1935'' each place it appears and inserting ``Securities Act of 1933 or the Securities Exchange Act of 1934''; (3) in section 310 (15 U.S.C. 77jjj), by striking subsection (c) (including the preceding heading); (4) in section 311 (15 U.S.C. 77kkk) by striking subsection (c); (5) in section 323(b) (15 U.S.C. 77www(b)), by striking ``Securities Act of 1933, or the Securities Exchange Act of 1934, or the Public Utility Holding Company Act of 1935'' and inserting ``Securities Act of 1933 or the Securities Exchange Act of 1934''; and (6) in section 326 (15 U.S.C. 77zzz), by striking ``Securities Act of 1933, or the Securities Exchange Act of 1934, or the Public Utility Holding Company Act of 1935,'' and inserting ``Securities Act of 1933 or the Securities Exchange Act of 1934''. (c) Investment Company Act of 1940.--The Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) is amended-- (1) in section 2(a)(44) (15 U.S.C. 80a-2(a)(44)), by striking ```Public Utility Holding Company Act of 1935',''; (2) in section 3(c) (15 U.S.C. 80a-3(c)), by amending paragraph (8) to read as follows: ``(8) [Repealed]''; (3) in section 38(b) (15 U.S.C. 80a-37(b)), by striking ``the Public Utility Holding Company Act of 1935,''; and (4) in section 50 (15 U.S.C. 80a-49), by striking ``the Public Utility Holding Company Act of 1935,''. (d) Investment Advisers Act of 1940.--Section 202(a)(21) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-2(a)(21)) is amended by striking ```Public Utility Holding Company Act of 1935',''. Passed the House of Representatives December 6, 2007. Attest: LORRAINE C. MILLER, Clerk.
summary: Securities Law Technical Corrections Act of 2007 - Makes technical corrections to the following Acts: (1) the Securities Act of 1933; (2) the Securities Exchange Act of 1934; (3) the Trust Indenture Act of 1939; (4) the Investment Company Act of 1940; and (5) the Investment Advisers Act of 1940. Amends the following statutes to make conforming amendments for the repeal of the Public Utility Holding Company Act of 1935: (1) the Securities Exchange Act of 1934; (2) the Trust Indenture Act of 1939; (3) the Investment Company Act of 1940; and (4) the Investment Advisers Act of 1940.