,,ii #aac? ,,congress #a/ ,session ,s4 #dej ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,m>* #e1 #bjac ,mr4 ,%elby 7= himself1 ,mr4 ,*ambliss1 ,mr4 ,crapo1 & ,mr4 ,johanns7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to require enhanc$ economic analysis & ju/ification ( regulations propos$ by c]ta9 ,f$]al bank+1 h\s+1 securities1 & commodity regulators1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,f9ancial ,regulatory ,responsibility ,act ( #bjac4 #b4 ,def9itions ,z us$ 9 ?is ,act-- 7#a7 ! t]m ag5cy means ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 ! ,bureau ( ,consum] ,f9ancial ,protection1 ! ,commodity ,futures ,trad+ ,commission1 ! ,f$]al ,deposit ,insurance ,corporation1 ! ,f$]al ,h\s+ ,f9ance ,ag5cy1 ! ,f9ancial ,/ability ,ov]sight ,c\ncil1 ! ,(fice ( ! ,comptroll] ( ! ,curr5cy1 ! ,(fice ( ,f9ancial ,rese>*1 ! ,national ,cr$it ,union ,adm9i/ration1 & ! ,securities & ,ex*ange ,commission2 7#b7 ! t]m *ief economi/ means-- 7,a7 ) respect to ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 ! ,director ( ! ,division ( ,rese>* & ,/ati/ics1 or an employee ( ! ag5cy ) comp>able au?ority2 7,b7 ) respect to ! ,bureau ( ,consum] ,f9ancial ,protection1 ! ,assi/ant ,director = ,rese>*1 or an employee ( ! ag5cy ) comp>able au?ority2 7,c7 ) respect to ! ,commodity ,futures ,trad+ ,commission1 ! ,*ief ,economi/1 or an employee ( ! ag5cy ) comp>able au?ority2 7,d7 ) respect to ! ,f$]al ,deposit ,insurance ,corporation1 ! ,director ( ! ,division ( ,insurance & ,rese>*1 or an employee ( ! ag5cy ) comp>able au?ority2 7,e7 ) respect to ! ,f$]al ,h\s+ ,f9ance ,ag5cy1 ! ,*ief ,economi/1 or an employee ( ! ag5cy ) comp>able au?ority2 7,f7 ) respect to ! ,f9ancial ,/ability ,ov]sight ,c\ncil1 ! ,*ief ,economi/1 or an employee ( ! ag5cy ) comp>able au?ority2 7,g7 ) respect to ! ,(fice ( ! ,comptroll] ( ! ,curr5cy1 ! ,director = ,policy ,analysis1 or an employee ( ! ag5cy ) comp>able au?ority2 7,h7 ) respect to ! ,(fice ( ,f9ancial ,rese>*1 ! ,director1 or an employee ( ! ag5cy ) comp>able au?ority2 7,i7 ) respect to ! ,national ,cr$it ,union ,adm9i/ration1 ! ,*ief ,economi/1 or an employee ( ! ag5cy ) comp>able au?ority2 & 7,j7 ) respect to ! ,securities & ,ex*ange ,commission1 ! ,director ( ! ,division ( ,risk1 ,/rategy1 & ,f9ancial ,innovation1 or an employee ( ! ag5cy ) comp>able au?ority2 7#c7 ! t]m ,c\ncil means ! ,*ief ,economi/s ,c\ncil e/abli%$ "u section #i2 & 7#d7 ! t]m regulation-- 7,a7 means an ag5cy /atem5t ( g5]al applicability & future effect t is design$ to implem5t1 int]pret1 or prescribe law or policy or to describe ! proc$ure or practice requirem5ts ( an ag5cy1 includ+ rules1 ord]s ( g5]al applicability1 int]pretive releases1 & o!r /atem5ts ( g5]al applicability t ! ag5cy int5ds to h ! =ce & effect ( law2 7,b7 does n include-- 7i7 a regulation issu$ 9 accordance ) ! =mal rulemak+ provisions ( section #eef or #eeg ( title #e1 ,unit$ ,/ates ,code2 7ii7 a regulation t is limit$ to ag5cy organization1 managem5t1 or p]sonnel matt]s2 7iii7 a regulation promulgat$ pursuant to /atutory au?ority t expressly prohibits compliance ) ?is provision2 7iv7 a regulation t is c]tifi$ by ! ag5cy to be an em]g5cy action1 if su* c]tification is publi%$ 9 ! ,f$]al ,regi/]2 or 7v7 a regulation t is promulgat$ by ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em or ! ,f$]al ,op5 ,m>ket ,committee "u section #aj;,a1 #aj;,b1 #ac1 #ac;,a1 or #ai ( ! ,f$]al ,res]ve ,act1 or any ( subsections 7a7 ?r\gh 7f7 ( section #ad ( t ,act4 #c4 ,requir$ regulatory analysis 7a7 ,requirem5ts = notices ( propos$ rulemak+ ,an ag5cy may n issue a notice ( propos$ rulemak+ unless ! ag5cy includes 9 ! notice ( propos$ rulemak+ an analysis t conta9s1 at a m9imum1 ) respect to ea* regulation t is be+ propos$-- 7#a7 an id5tification ( ! ne$ = ! regulation & ! regulatory objective1 includ+ id5tification ( ! nature & significance ( ! m>ket failure1 regulatory failure1 or o!r problem t necessitates ! regulation2 7#b7 an explanation ( :y ! private m>ket or ,/ate1 local1 or tribal au?orities _c adequately address ! id5tifi$ m>ket failure or o!r problem2 7#c7 an analysis ( ! adv]se impacts to regulat$ entities1 o!r m>ket p>ticipants1 economic activity1 or ag5cy effectiv5ess t are eng5d]$ by ! regulation & ! magnitude ( su* adv]se impacts2 7#d7 a quantitative & qualitative assessm5t ( all anticipat$ direct & indirect co/s & b5efits ( ! regulation 7z comp>$ to a b5*m>k t assumes ! abs5ce ( ! regulation71 includ+-- 7,a7 compliance co/s2 7,b7 effects on economic activity1 net job creation 7exclud+ jobs relat$ to ensur+ compliance ) ! regulation71 effici5cy1 competition1 & capital =mation2 7,c7 regulatory adm9i/rative co/s2 & 7,d7 co/s impos$ by ! regulation on ,/ate1 local1 or tribal gov]nm5ts or o!r regulatory au?orities2 7#e7 if quantifi$ b5efits d n outweigh quantitative co/s1 a ju/ification = ! regulation2 7#f7 id5tification & assessm5t ( all available alt]natives to ! regulation1 includ+ modification ( an exi/+ regulation or /atute1 toge!r )-- 7,a7 an explanation ( :y ! regulation meets ! objectives ( ! regulation m effectively ?an ! alt]natives1 & if ! ag5cy is propos+ multiple alt]natives1 an explanation ( :y a notice ( propos$ rulemak+1 r ?an an advanc$ notice ( propos$ rulemak+1 is appropriate2 & 7,b7 if ! regulation is n a pilot program1 an explanation ( :y a pilot program is n appropriate2 7#g7 if ! regulation specifies ! behavior or mann] ( compliance1 an explanation ( :y ! ag5cy did n in/ead specify p]=mance objectives2 7#h7 an assessm5t ( h[ ! burd5 impos$ by ! regulation w be di/ribut$ among m>ket p>ticipants1 includ+ :e!r consum]s1 inve/ors1 or small bus9esses w be disproportionately burd5$2 7#i7 an assessm5t ( ! ext5t to :i* ! regulation is inconsi/5t1 incompatible1 or duplicative ) ! exi/+ regulations ( ! ag5cy or ^? ( o!r dome/ic & int]national regulatory au?orities ) ov]lapp+ jurisdiction2 7#aj7 a description ( any /udies1 surveys1 or o!r data reli$ ^u 9 prep>+ ! analysis2 7#aa7 an assessm5t ( ! degree to :i* ! key assumptions und]ly+ ! analysis are subject to unc]ta9ty2 & 7#ab7 an explanation ( pr$ict$ *anges 9 m>ket /ructure & infra/ructure & 9 behavior by m>ket p>ticipants1 includ+ consum]s & inve/ors1 assum+ t !y w pursue _! economic int]e/s4 7b7 ,requirem5ts = notices ( f9al rulemak+ 7#a7 ,9 g5]al ,not)/&+ any o!r provision ( law1 an ag5cy may n issue a notice ( f9al rulemak+ ) respect to a regulation unless ! ag5cy-- 7,a7 has issu$ a notice ( propos$ rulemak+ = ! relevant regulation2 7,b7 has conduct$ & includes 9 ! notice ( f9al rulemak+ an analysis t conta9s1 at a m9imum1 ! elem5ts requir$ "u subsection 7a72 & 7,c7 includes 9 ! notice ( f9al rulemak+ regulatory impact metrics select$ by ! *ief economi/ to be us$ 9 prep>+ ! report requir$ pursuant to section #f4 7#b7 ,consid]ation ( comm5ts ,! ag5cy %all incorporate 9 ! elem5ts describ$ 9 p>agraph 7#a77;,b7 ! data & analyses provid$ to ! ag5cy by comm5t]s dur+ ! comm5t p]iod1 or expla9 :y ! data or analyses are n be+ incorporat$4 7#c7 ,comm5t p]iod ,an ag5cy %all n publi% a notice ( f9al rulemak+ ) respect to a regulation1 unless ! ag5cy-- 7,a7 has all[$ at lea/ #ij days f ! date ( publication 9 ! ,f$]al ,regi/] ( ! notice ( propos$ rulemak+ = ! submission ( public comm5ts2 or 7,b7 includes 9 ! notice ( f9al rulemak+ an explanation ( :y ! ag5cy 0 n able to provide a #ij-;day comm5t p]iod4 7#d7 ,prohibit$ ,rules 7,a7 ,9 g5]al ,an ag5cy may n publi% a notice ( f9al rulemak+ if ! ag5cy1 9 its analysis "u p>agraph 7#a77;,b71 det]m9es t ! quantifi$ co/s are great] ?an ! quantifi$ b5efits "u subsection 7a77#e74 7,b7 ,publication ( ,analysis ,if ! ag5cy is preclud$ by subp>agraph 7,a7 f publi%+ a notice ( f9al rulemak+1 ! ag5cy %all publi% 9 ! ,f$]al ,regi/] & on ! public website ( ! ag5cy its analysis "u p>agraph 7#a77;,b71 & provide ! analysis to ea* ,h\se ( ,congress4 7,c7 ,congressional waiv] ,if ! ag5cy is preclud$ by subp>agraph 7,a7 f publi%+ a notice ( f9al rulemak+1 ,congress1 by jo9t resolution pursuant to ! proc$ures set =? = jo9t resolutions 9 section #hjb ( title #e1 ,unit$ ,/ates ,code1 may direct ! ag5cy to publi% a notice ( f9al rulemak+ not)/&+ ! prohibition conta9$ 9 subp>agraph 7,a74 ,9 apply+ section #hjb ( title #e1 ,unit$ ,/ates ,code1 = purposes ( ?is p>agraph1 section #hjb7;e77#b7 %all n apply & ! t]m-- 7i7 jo9t resolution or jo9t resolution describ$ 9 subsection 7a7 means only a jo9t resolution introduc$ dur+ ! p]iod beg9n+ on ! submission or publication date & end+ #fj days !reaft] 7exclud+ days ei!r ,h\se ( ,congress is adj\rn$ = m ?an #c days dur+ a session ( ,congress71 ! matt] aft] ! resolv+ clause ( :i* is z foll[s3 8,t ,congress directs1 not)/&+ ! prohibition conta9$ 9 section #c7;b77#d77;,a7 ( ! ,f9ancial ,regulatory ,responsibility ,act ( #bjac1 ! to publi% ! notice ( f9al rulemak+ = ! regulation or regulations t 7 ! subject ( ! analysis submitt$ by ! to ,congress on 40 7,! blank spaces be+ appropriately fill$ 9472 & 7ii7 submission or publication date means-- 7,i7 ! date on :i* ! analysis "u p>agraph 7#a77;,b7 is submitt$ to ,congress "u p>agraph 7#d77;,b72 or 7,,ii7 if ! analysis is submitt$ to ,congress less ?an #fj session days or #fj legislative days be=e ! date on :i* ! ,congress adj\rns a session ( ,congress1 ! date on :i* ! same or succe$+ ,congress fir/ conv5es its next session4 #d4 ,rule ( con/ruction ,= purposes ( ! ,pap]work ,r$uction ,act 7#dd ,u4,s4,c4 #ceja et seq471 obta9+1 caus+ to be obta9$1 or solicit+ in=mation = purposes ( comply+ ) section #c ) respect to a propos$ rulemak+ %all n be con/ru$ to be a collection ( in=mation1 provid$ t ! ag5cy has fir/ issu$ an advanc$ notice ( propos$ rulemak+ 9 connection ) ! regulation1 id5tifies t advanc$ notice ( propos$ rulemak+ 9 its solicitation ( in=mation1 & in=ms ! p]son f :om ! in=mation is obta9$ or solicit$ t ! provision ( in=mation is volunt>y4 #e4 ,public availability ( data & regulatory analysis 7a7 ,9 g5]al ,at or be=e ! comm5cem5t ( ! public comm5t p]iod ) respect to a regulation1 ! ag5cy %all make available on its public website suffici5t in=mation ab\t ! data1 me?odologies1 & assumptions und]ly+ ! analyses p]=m$ pursuant to section #c s t ! analytical results ( ! ag5cy are capable ( be+ sub/antially reproduc$1 subject to an acceptable degree ( imprecision or error4 7b7 ,confid5tiality ,! ag5cy %all comply ) subsection 7a7 9 a mann] t pres]ves ! confid5tiality ( nonpublic in=mation1 includ+ confid5tial trade secrets1 confid5tial comm]cial or f9ancial in=mation1 & confid5tial in=mation ab\t positions1 transactions1 or bus9ess practices4 #f4 ,five-ye> regulatory impact analysis 7a7 ,9 g5]al ,n lat] ?an #e ye>s aft] ! date ( publication 9 ! ,f$]al ,regi/] ( a notice ( f9al rulemak+1 ! *ief economi/ ( ! ag5cy %all issue a report t exam9es ! economic impact ( ! subject regulation1 includ+ ! direct & indirect co/s & b5efits ( ! regulation4 7b7 ,regulatory impact metrics ,9 prep>+ ! report requir$ by subsection 7a71 ! *ief economi/ %all employ ! regulatory impact metrics includ$ 9 ! notice ( f9al rulemak+ pursuant to section #c7;b77#a77;,c74 7c7 ,reproducibility ,! report %all include ! data1 me?odologies1 & assumptions und]ly+ ! evaluation s t ! ag5cy's analytical results are capable ( be+ sub/antially reproduc$1 subject to an acceptable degree ( imprecision or error4 7d7 ,confid5tiality ,! ag5cy %all comply ) subsection 7c7 9 a mann] t pres]ves ! confid5tiality ( nonpublic in=mation1 includ+ confid5tial trade secrets1 confid5tial comm]cial or f9ancial in=mation1 & confid5tial in=mation ab\t positions1 transactions1 or bus9ess practices4 7e7 ,report ,! ag5cy %all submit ! report requir$ by subsection 7a7 to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives & po/ x on ! public website ( ! ag5cy4 ,! ,commodity ,futures ,trad+ ,commission %all also submit its report to ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate & ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives4 #g4 ,retrospective review ( exi/+ rules 7a7 ,regulatory improvem5t plan ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act & e #e ye>s !reaft]1 ea* ag5cy %all develop1 submit to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives1 & po/ on ! public website ( ! ag5cy a plan1 consi/5t ) law & its res\rces & regulatory priorities1 "u :i* ! ag5cy w modify1 /reaml9e1 exp&1 or repeal exi/+ regulations s z to make ! regulatory program ( ! ag5cy m effective or less burd5some 9 a*iev+ ! regulatory objectives4 ,! ,commodity ,futures ,trad+ ,commission %all also submit its plan to ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate & ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives4 7b7 ,implem5tation progress report ,two ye>s aft] ! date ( submission ( ea* plan requir$ "u subsection 7a71 ea* ag5cy %all develop1 submit to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives1 & po/ on ! public website ( ! ag5cy a report ( ! /eps t x has tak5 to implem5t ! plan1 /eps t rema9 to be tak5 to implem5t ! plan1 &1 if any p>ts ( ! plan w n be implem5t$1 reasons = n implem5t+ ^? p>ts ( ! plan4 ,! ,commodity ,futures ,trad+ ,commission %all also submit its plan to ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate & ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives4 #h4 ,judicial review 7a7 ,9 g5]al ,not)/&+ any o!r provision ( law1 dur+ ! p]iod beg9n+ on ! date on :i* a notice ( f9al rulemak+ = a regulation is publi%$ 9 ! ,f$]al ,regi/] & end+ #a ye> lat]1 a p]son t is adv]sely affect$ or aggriev$ by ! regulation is entitl$ to br+ an action 9 ! ,unit$ ,/ates ,c\rt ( ,appeals = ! ,di/rict ( ,columbia ,circuit = judicial review ( ag5cy compliance ) ! requirem5ts ( section #c4 7b7 ,/ay ,! c\rt may /ay ! effective date ( ! regulation or any provision !re(4 7c7 ,relief ,if ! c\rt f9ds t an ag5cy has n compli$ ) ! requirem5ts ( section #c1 ! c\rt %all vacate ! subject regulation1 unless ! ag5cy %[s by cle> & conv9c+ evid5ce t vacat+ ! regulation w\ld result 9 irrep>able h>m4 ,no?+ 9 ?is section affects o!r limitations on judicial review or ! p[] or duty ( ! c\rt to dismiss any action or d5y relief on any o!r appropriate legal or equitable gr\nd4 #i4 ,*ief ,economi/s ,c\ncil 7a7 ,e/abli%m5t ,!re is e/abli%$ ! ,*ief ,economi/s ,c\ncil4 7b7 ,memb]%ip ,! ,c\ncil %all consi/ ( ! *ief economi/ ( ea* ag5cy4 ,! memb]s ( ! ,c\ncil %all select ! fir/ *airp]son ( ! ,c\ncil4 ,!reaft] ! position ( ,*airp]son %all rotate annually among ! memb]s ( ! ,c\ncil4 7c7 ,meet+s ,! ,c\ncil %all meet at ! call ( ! ,*airp]son1 b n less frequ5tly ?an qu>t]ly4 7d7 ,report ,"o ye> aft] ! effective date ( ?is ,act & annually !reaft]1 ! ,c\ncil %all prep>e & submit to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs & ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices & ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives a report on-- 7#a7 ! b5efits & co/s ( regulations adopt$ by ! ag5cies dur+ ! pa/ #ab mon?s2 7#b7 ! regulatory actions plann$ by ! ag5cies = ! upcom+ #ab mon?s2 7#c7 ! cumulative effect ( ! exi/+ regulations ( ! ag5cies on economic activity1 innovation1 int]national competitiv5ess ( entities regulat$ by ! ag5cies1 & net job creation 7exclud+ jobs relat$ to ensur+ compliance ) ! regulation72 7#d7 ! tra9+ & qualifications ( ! p]sons :o prep>$ ! co/-b5efit analyses ( ea* ag5cy dur+ ! pa/ #ab mon?s2 7#e7 ! suffici5cy ( ! res\rces available to ! *ief economi/s dur+ ! pa/ #ab mon?s = ! conduct ( ! activities requir$ by ?is ,act2 & 7#f7 recomm5dations = legislative or regulatory action to enhance ! effici5cy & effectiv5ess ( f9ancial regulation 9 ! ,unit$ ,/ates4 #aj4 ,con=m+ am5dm5ts ,section #ae7;a7 ( ! ,commodity ,ex*ange ,act 7#g ,u4,s4,c4 #ai7;a77 is am5d$-- 7#a7 by /rik+ p>agraph 7#a72 7#b7 9 p>agraph 7#b71 by /rik+ 7#b7 & all t foll[s ?r\gh light (-- & ins]t+ ! foll[+3 7#a7 ,consid]ations ,be=e promulgat+ a regulation "u ?is *apt] or issu+ an ord] 7except z provid$ 9 p>agraph 7#b771 ! ,commission %all take into consid]ation-- 2 7#c7 9 p>agraph 7#a71 z s r$esignat$-- 7,a7 9 subp>agraph 7,b71 by /rik+ futures & ins]t+ ! relevant2 7,b7 9 subp>agraph 7,c71 by add+ & at ! end2 7,c7 9 subp>agraph 7,d71 by /rik+ & at ! end2 & 7,d7 by /rik+ subp>agraph 7,e72 & 7#d7 by r$esignat+ p>agraph 7#c7 z p>agraph 7#b74 #aa4 ,o!r regulatory entities 7a7 ,securities & ex*ange commission ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,securities & ,ex*ange ,commission %all provide to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives a report sett+ =? a plan = subject+ ! ,public ,company ,acc\nt+ ,ov]sight ,bo>d1 ! ,municipal ,securities ,rulemak+ ,bo>d1 & any national securities association regi/]$ "u section #ae;,a ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gho-#d7;a77 to ! requirem5ts ( ?is ,act1 o!r ?an direct repres5tation on ! ,c\ncil4 7b7 ,commodity futures trad+ commission ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,commodity ,futures ,trad+ ,commission %all provide to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate1 ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives1 ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate1 & ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives a report sett+ =? a plan = subject+ any futures association regi/]$ "u section #ag ( ! ,commodity ,ex*ange ,act 7#g ,u4,s4,c4 #ba7 to ! requirem5ts ( ?is ,act1 o!r ?an direct repres5tation on ! ,c\ncil4 #ab4 ,avoidance ( duplicative or unnecess>y analyses ,an ag5cy may p]=m ! analyses requir$ by ?is ,act 9 conjunction )1 or z a "p (1 any o!r ag5da or analysis requir$ by any o!r provision ( law1 if su* o!r analysis satisfies ! provisions ?is ,act4 #ac4 ,sev]ability ,if any provision ( ?is ,act or ! application ( any provision ( ?is ,act to any p]son or circum/ance1 is held invalid1 ! application ( su* provision to o!r p]sons or circum/ances1 & ! rema9d] ( ?is ,act1 %all n be affect$ !reby4