Sec. 351. End users not treated as financial entities

543 words·~2 min read·/bill/113/hr/4413/rh/section-351

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 2(h)(7)(C)(iii) of the Commodity Exchange Act ( 7 U.S.C. 2(h)(7)(C)(iii) ) is amended to read as follows: Such definition shall not include an entity— whose primary business is providing financing, and who uses derivatives for the purpose of hedging underlying commercial risks related to interest rate and foreign currency exposures, 90 percent or more of which arise from financing that facilitates the purchase or lease of products, 90 percent or more of which are manufactured by the parent company or another subsidiary of the parent company; or who is not supervised by a prudential regulator, and is not described in any of subclauses

(I)through

(VII)of clause (i), and— is a commercial market participant and is considered a financial entity under clause (i)(VIII) because the entity predominantly engages in physical delivery contracts; or enters into swaps, contracts for future delivery, and other derivatives on behalf of, or to hedge or mitigate the commercial risk of, whether directly or in the aggregate, affiliates that are not so supervised or described. . Section 1a of such Act ( 7 U.S.C. 1a ) is amended by redesignating paragraphs

(8)through

(51)as paragraphs

(9)through (52), respectively, and by inserting after paragraph

(6)the following: The term commercial market participant means any producer, processor, merchant, or commercial user of an exempt or agricultural commodity, or the products or byproducts of such a commodity. . Section 1a of such Act ( 7 U.S.C. 1a ) is amended— in subparagraph

(A)of paragraph

(18)(as so redesignated by paragraph

(1)of this subsection), in the matter preceding clause (i), by striking (18)(A) and inserting (19)(A) ; and in subparagraph (A)(vii) of paragraph

(19)(as so redesignated by paragraph

(1)of this subsection), in the matter following subclause (III), by striking (17)(A) and inserting (18)(A) . Section 4(c)(1)(A)(i)(I) of such Act ( 7 U.S.C. 6(c)(1)(A)(i)(I) ) is amended by striking (7), paragraph (18)(A)(vii)(III), paragraphs (23), (24), (31), (32), (38), (39), (41), (42), (46), (47), (48), and

(49)and inserting (8), paragraph (19)(A)(vii)(III), paragraphs (24), (25), (32), (33), (39), (40), (42), (43), (47), (48), (49), and

(50). Section 4q(a)(1) of such Act ( 7 U.S.C. 6o–1(a)(1) ) is amended by striking 1a(9) and inserting 1a(10) . Section 4s(f)(1)(D) of such Act ( 7 U.S.C. 6s(f)(1)(D) ) is amended by striking 1a(47)(A)(v) and inserting 1a(48)(A)(v) . Section 4s(h)(5)(A)(i) of such Act ( 7 U.S.C. 6s(h)(5)(A)(i) ) is amended by striking 1a(18) and inserting 1a(19) . Section 4t(b)(1)(C) of such Act ( 7 U.S.C. 6t(b)(1)(C) ) is amended by striking 1a(47)(A)(v) and inserting 1a(48)(A)(v) . Section 5(d)(23) of such Act ( 7 U.S.C. 7(d)(23) ) is amended by striking 1a(47)(A)(v) and inserting 1a(48)(A)(v) . Section 5(e)(1) of such Act ( 7 U.S.C. 7(e)(1) ) is amended by striking 1a(9) and inserting 1a(10) . Section 5b(k)(3)(A) of such Act ( 7 U.S.C. 7a–1(k)(3)(A) ) is amended by striking 1a(47)(A)(v) and inserting 1a(48)(A)(v) . Section 5c(c)(4)(B) of such Act ( 7 U.S.C. 7a–2(c)(4)(B) ) is amended by striking 1a(10) and inserting 1a(11) . Section 5h(f)(10)(A)(iii) of such Act ( 7 U.S.C. 7b–3(f)(10)(A)(iii) ) is amended by striking 1a(47)(A)(v) and inserting 1a(48)(A)(v) . Section 21(f)(4)(C) of such Act ( 7 U.S.C. 24a(f)(4)(C) ) is amended by striking 1a(48) and inserting 1a(49) .

Connectionstraces to 7

Traces to 7 documents

U.S. Code