,i #aac? ,,congress #a/ ,session ,h4 ,r4 #cjab ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,augu/ #b1 #bjac ,mr4 ,capuano 7= himself1 ,mr4 ,lyn*1 ,mr4 ,himes1 & ,mr4 ,delaney7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices1 & 9 addition to ! ,committee on ,agriculture1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to e/abli% ! ,securities & ,d]ivatives ,commission 9 ord] to comb9e ! functions ( ! ,commodity ,futures ,trad+ ,commission & ! ,securities & ,ex*ange ,commission 9 a s+le indep5d5t regulatory commission4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,m>kets & ,trad+ ,reorganization ,act4 7b7 ,table ( cont5ts ,! table ( cont5ts ( ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4 ,sec4 #b4 ,purposes4 ,sec4 #c4 ,def9ition4 ,title ,i--,e/abli%m5t ( commission ,sec4 #aja4 ,e/abli%m5t4 ,sec4 #ajb4 ,memb]s2 appo9tm5t2 t]ms4 ,sec4 #ajc4 ,organization ( ,commission4 ,title ,,ii--,transf]s ( functions ,sec4 #bja4 ,commodity ,futures ,trad+ ,commission functions4 ,sec4 #bjb4 ,securities & ,ex*ange ,commission functions4 ,title ,,iii--,adm9i/rative provisions ,sec4 #cja4 ,p]sonnel provisions4 ,sec4 #cjb4 ,g5]al adm9i/rative provisions4 ,title ,,iv--,fee & ,fund+ ,au?ority ,sec4 #dja4 ,fund+ au?ority ( ! ,commission4 ,title ,v--,transitional1 sav+s1 & con=m+ provisions ,sec4 #eja4 ,sav+s provisions4 ,sec4 #ejb4 ,ref]5ce4 ,sec4 #ejc4 ,am5dm5ts4 ,title ,,vi--,effective date ,sec4 #fja4 ,effective date4 #b4 ,purposes ,! purposes ( ?is ,act are-- 7#a7 to e/abli% a s+le ,f$]al regulatory body ) jurisdiction ov] securities1 d]ivatives1 options1 futures1 & relat$ m>kets & in/rum5ts2 7#b7 to coord9ate ! regulation ( relevant f9ancial m>kets2 7#c7 to /r5g!n inve/or confid5ce 9 ,unit$ ,/ates f9ancial m>kets2 & 7#d7 to ensure ! effici5cy & competitiv5ess ( ^? m>kets4 #c4 ,def9ition ,z us$ 9 ?is ,act1 ! t]m ,commission1 o!r ?an :]e expressly ref]r+ to ! ,securities & ,ex*ange ,commission or ! ,commodity ,futures ,trad+ ,commission1 means ! ,securities & ,d]ivatives ,commission e/abli%$ by section #aja ( ?is ,act4 ,i ,e/abli%m5t ( commission #aja4 ,e/abli%m5t ,!re is e/abli%$ an indep5d5t regulatory commission to be kn[n z ! ,securities & ,d]ivatives ,commission4 #ajb4 ,memb]s2 appo9tm5t2 t]ms 7a7 ,composition ( commission ,! ,commission %all be compos$ ( #e commission]s appo9t$ by ! ,presid5t1 by & ) ! advice & cons5t ( ! ,s5ate4 ,"o ( ! commission]s %all be designat$ by ! ,presid5t z *airp]son4 ,n m ?an ?ree ( su* commission]s %all be memb]s ( ! same political p>ty4 ,ea* commission] %all be select$ solely on ! basis ( integrity & demon/rat$ k ( ! op]ations ( ! m>kets subject to ! jurisdiction ( ! ,commission4 7b7 ,qualifications ,9 appo9t+ commission]s "u subsection 7a71 ! ,presid5t %all-- 7#a7 select p]sons :o ea* h demon/rat$ k ( securities1 futures1 swaps1 or o!r d]ivatives1 ! regulation ( su* in/rum5ts1 or ! m>kets = agricultural or o!r types ( commodities und]ly+ transactions subject to ! ov]sight ( ! ,commission "u ?is ,act2 & 7#b7 seek to ensure t ! demon/rat$ k ( ! commission]s is balanc$ ) respect to su* areas1 ) at lea/ "o commission] hav+ k ( ! agricultural commodities m>ket4 7c7 ,t]ms ,ea* commission] %all be appo9t$ = a t]m ( #e ye>s1 except t a commission] may cont9ue to s]ve aft] ! expiration ( su* t]m until a successor is appo9t$ & has qualifi$4 7#a7 ,! t]ms ( (fice ( ! commission]s fir/ tak+ (fice aft] ! enactm5t ( ?is ,act %all expire1 z designat$ by ! ,presid5t at ! "t ( _! appo9tm5t-- 7,a7 "o at ! end ( #a ye>2 7,b7 two at ! end ( #c ye>s2 & 7,c7 two at ! end ( #e ye>s4 7#b7 ,any commission] appo9t$ to fill a vacancy occurr+ prior to ! expiration ( ! t]m = :i* ! pr$ecessor 0 appo9t$ %all be appo9t$ = ! rema9d] ( su* t]m4 #ajc4 ,organization ( ,commission 7a7 ,requir$ divisions ,! ,commission %all e/abli% ! pr9cipal divisions & subdivisions ( ! ,commission1 includ+1 at a m9imum1 ! foll[+ ?ree divisions3 7#a7 ,a ,m>kets & ,trad+ ,division ) ov]sight ( m>ket conduct & utilities1 ! conduct ( m>ket pr(essionals1 & self-regulatory organizations ) reg>d to su* m>ket pr(essionals1 includ+ relat$ exam9ation functions4 7#b7 ,an ,issu]s & ,f9ancial ,disclosures ,division ) ov]sight ( ! issuance ( securities1 includ+ inve/m5t companies & relat$ rules & exam9ations4 7#c7 ,an ,en=cem5t ,division responsible = ! en=cem5t ( all rules ( ! ,commission4 7b7 ,o!r (fices ,! ,commission may e/abli% su* o!r (fices z x det]m9es useful 9 ! conduct ( ! ,commission's affairs4 ,,ii ,transf]s ( functions #bja4 ,commodity ,futures ,trad+ ,commission functions ,!re are transf]r$ to ! ,commission all functions ( ! ,commodity ,futures ,trad+ ,commission & ( any (fic] or compon5t ( ! ,commodity ,futures ,trad+ ,commission4 #bjb4 ,securities & ,ex*ange ,commission functions ,!re are transf]r$ to ! ,commission all functions ( ! ,securities & ,ex*ange ,commission & ( any (fic] or compon5t ( ! ,securities & ,ex*ange ,commission4 ,,iii ,adm9i/rative provisions #cja4 ,p]sonnel provisions 7a7 ,appo9tm5t & comp5sation ,! ,commission may appo9t & fix ! comp5sation ( su* (fic]s & employees z may be necess>y to c>ry out ! functions ( ! ,commission4 ,except z o!rwise provid$ by law1 su* (fic]s & employees %all be appo9t$ 9 accordance ) ! civil s]vice laws & ! comp5sation ( su* employees %all be fix$ 9 accordance ) section #dhjb ( title #e1 ,unit$ ,/ates ,code4 ,! ,commission %all1 9 accordance ) su* section1 adju/ ! comp5sation ( employees s t ! comp5sation ( employees transf]r$ f ! ,commodity ,futures ,trad+ ,commission pursuant to subsection 7b7 & ! comp5sation ( employees transf]r$ f ! ,securities & ,ex*ange ,commission "u su* subsection are align$4 ,9 mak+ su* an adju/m5t1 ! ,commission %all n r$uce ! comp5sation ( any employee4 7b7 ,transf] ( employees 7#a7 ,9 g5]al ,all employees ( ! ,commodity ,futures ,trad+ ,commission & ! ,securities & ,ex*ange ,commission %all be transf]r$ to ! ,commission4 ,ea* employee to be transf]r$ "u ?is subsection %all be transf]r$ n lat] ?an #ij days aft] ! effective date set =? 9 section #fja4 7#b7 ,employee /atus & functions 7,a7 ,/atus ,! transf] ( employees "u ?is section %all n affect ! /atus ( ! transf]r$ employees z employees ( an ag5cy ( ! ,unit$ ,/ates "u any provision ( law4 ,ea* transf]r$ employee %all be plac$ 9 a position at ! ,commission ) ! same /atus & t5ure z ! transf]r$ employee held on ! day be=e ! date on :i* ! employee 0 transf]r$4 7,b7 ,functions ,to ! ext5t practicable1 ea* transf]r$ employee %all be plac$ 9 a position at ! ,commission responsible = ! same functions & duties z ! transf]r$ employee _h on ! day be=e ! date on :i* ! employee 0 transf]r$1 9 accordance ) ! exp]tise & pref]5ces ( ! transf]r$ employee4 7#c7 ,p]sonnel actions limit$ 7,a7 ,protection ,except z provid$ 9 subp>agraph 7,b71 ea* transf]r$ employee %all n1 dur+ ! #c-ye> p]iod beg9n+ on ! transf] date1 be involunt>ily sep>at$1 or involunt>ily reassign$ outside 8 or h] locality pay area4 7,b7 ,exceptions ,subp>agraph 7,a7 does n limit ! "r ( ! ,commission to-- 7i7 sep>ate an employee = cause or = unacceptable p]=mance2 7ii7 t]m9ate an appo9tm5t to a position except$ f ! competitive s]vice because ( its confid5tial policy-mak+1 policy-det]m9+1 or policy-advocat+ "*2 or 7iii7 reassign an employee outside su* employee's locality pay area :5 ! ,commission det]m9es t ! reassignm5t is necess>y = ! effici5t op]ation ( ! ,commission4 7#d7 ,pay 7,a7 ,protection 7i7 ,9 g5]al ,except z provid$ 9 clause 7ii71 ea* transf]r$ employee %all1 dur+ ! #c-ye> p]iod beg9n+ on ! designat$ transf] date1 receive pay at a rate equal to n less ?an ! basic rate ( pay 7includ+ any geographic diff]5tial7 t ! employee receiv$ dur+ ! pay p]iod imm$iately prec$+ ! date ( transf]4 7ii7 ,limitation ,not)/&+ clause 7i71 if ! employee 0 receiv+ a high] rate ( basic pay on a tempor>y basis 7because ( a tempor>y assignm5t1 tempor>y promotion1 or o!r tempor>y action7 imm$iately be=e ! date ( transf]1 ! ,commission may r$uce ! rate ( basic pay on ! date on :i* ! rate w\ld h be5 r$uc$ b = ! transf]1 & ! protect$ rate = ! rema9d] ( ! #c-ye> p]iod %all be ! r$uc$ rate t w\ld h appli$1 b = ! transf]4 7,b7 ,exceptions ,subp>agraph 7,a7 does n limit ! "r ( ! ,commission to r$uce ! rate ( basic pay ( a transf]r$ employee-- 7i7 = cause or = unacceptable p]=mance2 or 7ii7 ) ! cons5t ( ! employee4 7,c7 ,protection only :ile employ$ ,subp>agraph 7,a7 applies to a transf]r$ employee only :ile t employee rema9s employ$ by ! ,commission4 7,d7 ,pay increases p]mitt$ ,subp>agraph 7,a7 does n limit ! au?ority ( ! ,commission to increase ! pay ( a transf]r$ employee4 #cjb4 ,g5]al adm9i/rative provisions 7a7 ,g5]al au?ority ,9 c>ry+ out any function transf]r$ by ?is ,act1 ! ,commission1 or any (fic] or employee ( ! ,commission1 may ex]cise any au?ority available by law ) respect to su* function to ! (ficial or ag5cy f :i* su* function is transf]r$1 & ! actions ( ! ,commission1 or any (fic] or employee ( ! ,commission 9 ex]cis+ su* au?ority %all h ! same =ce & effect z :5 ex]cis$ by su* (ficial or ag5cy4 7b7 ,rules ,! ,commission may prescribe su* rules & regulations z ! ,commission det]m9es necess>y or appropriate to adm9i/] & manage ! functions ( ! ,commission4 7c7 ,contracts ,! ,commission may make1 ent] into1 & p]=m su* contracts1 grants1 leases1 coop]ative agreem5ts1 or o!r simil> transactions ) ,f$]al or o!r public ag5cies 7includ+ ,/ate & local gov]nm5ts7 & private organizations & p]sons1 & make su* paym5ts1 by way ( advance or reimbursem5t1 z ! ,commission may det]m9e necess>y or appropriate to c>ry out functions ( ! ,commission4 7d7 ,regional & field (fices ,! ,commission may e/abli%1 alt]1 discont9ue1 or ma9ta9 su* regional or o!r field (fices z ! ,commission may f9d necess>y or appropriate to p]=m functions ( ! ,commission4 7e7 ,res]ve fund ,! ,commission may obligate am\nts 9 ! ,res]ve ,fund e/abli%$ "u section #d7;i7 ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;d7i771 n to exce$ a total ( #ajj1jjj1jjj 9 any #a fiscal ye>1 z ! ,commission det]m9es is necess>y to c>ry out ! functions ( ! ,commission1 includ+ ^? transf]r$ by title ,,ii ( ?is ,act4 ,any am\nts 9 ! res]ve fund %all rema9 available until exp5d$4 ,n lat] ?an #aj days aft] ! date on :i* ! ,commission obligates am\nts "u ?is subsection1 ! ,commission %all notify ,congress ( ! date1 am\nt1 & purpose ( ! obligation4 ,,iv ,fee & ,fund+ ,au?ority #dja4 ,fund+ au?ority ( ! ,commission 7a7 ,commodity ,futures ,trad+ ,commission ,section #ab ( ! ,commodity ,ex*ange ,act 7#g ,u4,s4,c4 #af7 is am5d$-- 7#a7 9 subsection 7b77#a71 by /rik+ & z may be f "t to "t appropriat$ = by ,congress2 7#b7 by /rik+ subsection 7d72 & 7#c7 9 subsection 7f77#c71 by /rik+ ,any paym5t or reimbursem5t accept$ %all be consid]$ a reimbursem5t to ! appropriat$ funds ( ! ,commission4 & ins]t+ ,su* paym5ts or reimbursem5ts %all be available to ! ,commission )\t fur!r appropriation44 7b7 ,securities & ,ex*ange ,commission ,section #ca ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;ee7 is am5d$-- 7#a7 9 subsection 7a7-- 7,a7 9 ! head+ = su* subsection1 by /rik+ ,recov]y ( ,co/s ( ,annual ,appropriation & ins]t+ ,9 g5]al2 & 7,b7 by /rik+ recov] ! co/s to ! ,gov]nm5t ( ! annual appropriation to ! ,commission by ,congress & ins]t+ cov] ! co/s to ! ,commission = ! sup]vision & regulation ( securities m>kets & securities pr(essionals1 & use su* fees & assessm5ts )\t fur!r appropriation2 7#b7 by /rik+ subsection 7i72 7#c7 9 subsection 7j7-- 7,a7 by /rik+ regul> appropriation to ! ,commission by ,congress ea* place su* t]m appe>s & ins]t+ t>get (fsett+ collection am\nt2 & 7,b7 by am5d+ p>agraph 7#d77;,a7 to read z foll[s3 7,a7 ,annual adju/m5t ,an adju/$ rate prescrib$ "u p>agraph 7#a7 %all take effect on ! fir/ day ( ! fiscal ye> to :i* su* rate applies4 2 & 7#d7 by /rik+ subsection 7k74 ,v ,transitional1 sav+s1 & con=m+ provisions #eja4 ,sav+s provisions 7a7 ,cont9uity ( legal in/rum5ts ,all ord]s1 det]m9ations1 rules1 regulations1 p]mits1 grants1 contracts1 c]tificates1 lic5ses1 & privileges-- 7#a7 :i* h be5 issu$1 made1 grant$1 or all[$ to become effective by ! ,presid5t1 ! ,securities & ,ex*ange ,commission1 or ! ,commodity ,futures ,trad+ ,commission1 or any compon5t !re(1 or by a c\rt ( compet5t jurisdiction1 9 ! p]=mance ( functions :i* are transf]r$ "u ?is ,act to ! ,commission1 & 7#b7 :i* are 9 effect at ! "t ?is ,act takes effect1 %all cont9ue 9 effect accord+ to _! t]ms until modifi$1 t]m9at$1 sup]s$$1 set aside1 or revok$ 9 accordance ) ! law by ! ,presid5t1 ! ,commission1 or o!r au?oriz$ (ficial1 a c\rt ( compet5t jurisdiction1 or by op]ation ( law4 7b7 ,cont9uity ( proce$+s 7#a7 ,9 g5]al ,! provisions ( ?is ,act %all n affect any proce$+s1 includ+ notices ( propos$ rulemak+1 or any application = any lic5se1 p]mit1 c]tificate1 or f9ancial assi/ance p5d+ on ! effective date ( ?is ,act be=e ei!r ! ,securities & ,ex*ange ,commission or ! ,commodity ,futures ,trad+ ,commission1 or any compon5t !re(1 functions ( :i* are transf]r$ by ?is ,act4 ,su* proce$+s & applications1 to ! ext5t t !y relate to functions s transf]r$1 %all be cont9u$4 ,ord]s %all be issu$ 9 su* proce$+s1 appeals %all be tak5 !refrom1 & paym5ts %all be made pursuant to su* ord]s1 z if ?is ,act _h n be5 enact$ & ord]s issu$ 9 any su* proce$+s %all cont9ue 9 effect until modifi$1 t]m9at$1 sup]s$$1 or revok$ by ! ,commission1 by a c\rt ( compet5t jurisdiction1 or by op]ation ( law4 ,no?+ 9 ?is subsection %all be con/ru$ to prohibit ! discont9uance or modification ( any su* proce$+ "u ! same t]ms & conditions & to ! same ext5t t su* proce$+ c\ld h be5 discont9u$ or modifi$ if ?is ,act _h n be5 enact$4 7#b7 ,regulations conc]n+ transf]s ,! ,commission may prescribe regulations provid+ = ! ord]ly transf] ( proce$+s cont9u$ "u p>agraph 7#a7 to ! ,commission4 7c7 ,p5d+ litigation ,except z provid$ 9 subsection 7e7-- 7#a7 ! provisions ( ?is ,act %all n affect suits comm5c$ prior to ! effective date ( ?is ,act2 & 7#b7 9 all su* suits1 proce$+s %all be _h1 appeals tak51 & judgm5ts r5d]$ 9 ! same mann] & effect z if ?is ,act _h n be5 enact$4 7d7 ,nonabatem5t ,no suit1 action1 or o!r proce$+ comm5c$ by or aga9/ any (fic] 9 ! (ficial capacity ( su* individual z an (fic] ( ! ,securities & ,ex*ange ,commission or ! ,commodity ,futures ,trad+ ,commission1 or any compon5t !re(1 functions ( :i* are transf]r$ by ?is ,act1 %all abate by reason ( ! enactm5t ( ?is ,act4 ,no cause ( action by or aga9/ any dep>tm5t or ag5cy1 functions ( :i* are transf]r$ by ?is ,act1 or by or aga9/ any (fic] !re( 9 ! (ficial capacity ( su* (fic] %all abate by reason ( ! enactm5t ( ?is ,act4 7e7 ,sub/itution ( p>ties ,if1 be=e ! date on :i* ?is ,act takes effect1 ! ,securities & ,ex*ange ,commission or ! ,commodity ,futures ,trad+ ,commission1 or any compon5t !re(1 or (fic] !re( 9 ! (ficial capacity ( su* (fic]1 is a p>ty to a suit1 & "u ?is ,act any function ( su* dep>tm5t1 ag5cy1 or (fic] is transf]r$ to ! ,commission or any o!r (ficial ( ! ,commission1 !n su* suit %all be cont9u$ ) ! ,commission or o!r appropriate (ficial ( ! ,commission sub/itut$ or add$ z a p>ty4 7f7 ,judicial review z requir$ by exi/+ law ,ord]s & actions ( ! ,commission 9 ! ex]cise ( functions transf]r$ "u ?is ,act %all be subject to judicial review to ! same ext5t & 9 ! same mann] z if su* ord]s & actions _h be5 by ! ag5cy or (fice1 or "p !re(1 ex]cis+ su* functions imm$iately prec$+ _! transf]4 ,any /atutory requirem5ts relat+ to notice1 he>+s1 action ^u ! record1 or adm9i/rative review t apply to any function transf]r$ by ?is ,act %all apply to ! ex]cise ( su* function by ! ,commission4 #ejb4 ,ref]5ce ,any ref]5ce 9 any o!r ,f$]al law to ! ,securities & ,ex*ange ,commission or ! ,commodity ,futures ,trad+ ,commission %all be deem$ a ref]5ce to ! ,securities & ,d]ivatives ,commission e/abli%$ by ?is ,act4 #ejc4 ,am5dm5ts 7a7 ,executive s*$ule sal>ies 7#a7 ,*airp]son ,section #ecad ( title #e1 ,unit$ ,/ates ,code1 is am5d$-- 7,a7 by /rik+ ,*airman1 ,securities & ,ex*ange ,commission4 & ins]t+ ,*airp]son1 ,securities & ,d]ivatives ,commission42 & 7,b7 by /rik+ ,*airman1 ,commodity ,futures ,trad+ ,commission44 7#b7 ,memb]s ,section #ecae ( title #e1 ,unit$ ,/ates ,code1 is am5d$-- 7,a7 by /rik+ ,memb]s1 ,securities & ,ex*ange ,commission & ins]t+ ,memb]s1 ,securities & ,d]ivatives ,commission2 & 7,b7 by /rik+ ,memb]s1 ,commodity ,futures ,trad+ ,commission44 7b7 ,con=m+ am5dm5ts 7#a7 ,securities ex*ange act ,sections #d7;a7 ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;d7a77 is am5d$-- 7,a7 by /rik+ ,!re is h]eby e/abli%$ a ,securities & ,ex*ange ,commission 7h]e9aft] ref]r$ to z ! ,commission7 to be compos$ ( five commission]s to be appo9t$ by ! ,presid5t by & ) ! advice & cons5t ( ! ,s5ate4 ,n m ?an ?ree ( su* commission]s %all be memb]s ( ! same political p>ty1 & 9 mak+ appo9tm5ts memb]s ( diff]5t political p>ties %all be appo9t$ alt]nately z ne>ly z may be practicable42 & 7,b7 by /rik+ ,ea* commission] %all hold (fice = a t]m ( five ye>s & until 8 successor is appo9t$ & has qualifi$1 except t he %all n s cont9ue to s]ve beyond ! expiration ( ! next session ( ,congress subsequ5t to ! expiration ( said fix$ t]m ( (fice1 & except 7#a7 any commission] appo9t$ to fill a vacancy occurr+ prior to ! expiration ( ! t]m = :i* 8 pr$ecessor 0 appo9t$ %all be appo9t$ = ! rema9d] ( su* t]m1 & 7#b7 ! t]ms ( (fice ( ! commission]s fir/ tak+ (fice aft] ! enactm5t ( ?is title %all expire z designat$ by ! ,presid5t at ! "t ( nom9ation1 "o at ! end ( "o ye>1 "o at ! end ( two ye>s1 "o at ! end ( ?ree ye>s1 "o at ! end ( f\r ye>s1 & "o at ! end ( five ye>s1 aft] ! date ( ! enactm5t ( ?is title44 7#b7 ,commodity ex*ange act ,section #b7;a7 ( ! ,commodity ,ex*ange ,act 7#g ,u4,s4,c4 #b;a7 is am5d$ by /rik+ p>agraphs 7#b71 7#c71 & 7#d74 7#c7 ,dodd-,frank ,section #aaa7;b77#a7 ( ! ,dodd-,frank ,wall ,/reet ,re=m & ,consum] ,protection ,act 7#ab ,u4,s4,c4 #ecba7;b77#a77 is am5d$-- 7,a7 by am5d+ subp>agraph 7,e7 to read z foll[s3 7,e7 ! ,*airp]son ( ! ,securities & ,d]ivatives ,commission2 2 7,b7 by /rik+ subp>agraph 7,g72 & 7,c7 by r$esignat+ subp>agraphs 7,h71 7,i71 & 7,j7 z subp>agraphs 7,g71 7,h71 & 7,i71 respectively4 ,,vi ,effective date #fja4 ,effective date ,! provisions ( ?is ,act %all take effect #a ye> aft] ! date ( enactm5t ( ?is ,act1 except t ! ,presid5t may nom9ate & ! ,s5ate confirm ,commission]s prior to su* date4