,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #eeb  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #bf1 #bjai    
,ms4 ,klobu*> 7= h]self & ,mr4 ,p]due7  
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,agriculture1 ,nutrition1 & ,=e/ry  ,a  
,,bill  ,to am5d ! ,commodity ,ex*ange  
,act to exempt c]ta9 *>itable           
organizations f regulation z commodity  
pool op]ators1 & = o!r purposes4  #a4   
,exemption ( qualifi$ *>itable          
organizations f regulation z commodity  
pool op]ators  ,section #dm ( !         
,commodity ,ex*ange ,act 7#g ,u4,s4,c4  
#fm7 is am5d$-- 7#a7 by /rik+ ,sec4 #dm4
 7#a7 ,x & ins]t+ ! foll[+3  #dm4 ,use (
 mails or o!r means or in/rum5talities (
 int]/ate comm]ce by commodity trad+    
advisors & commodity pool op]ators  7a7 
,prohibition  7#a7 ,9 g5]al ,x  2  7#b7 
9 ! second s5t5ce--  7,a7 by /rik+ ,!   
provisions ( ?is section & ins]t+ !     
foll[+3  7#b7 ,exceptions  7,a7         
,commodity trad+ advisors  7i7 ,9 g5]al 

,subject to clause 7ii7 & except z      
provid$ 9 subp>agraphs 7,b7 & 7,c71 ?is 
section  2  7,b7 by /rik+ commodity     
trad+ advisor :o is a 7#a7 deal] &      
ins]t+ ! foll[+3 8commodity trad+       
advisor :o is a--  7,i7 deal]  2  7,c7  
by /rik+ or 7#b7 nonpr(it & ins]t+ !    
foll[+3 82 or  7,,ii7 nonpr(it  2  7,d7 
by /rik+ ,commodity ,futures ,trad+     
,commission ,act ( #aigd2 if ! advice by
 ! p]son describ$ 9 clause 7#a7 or 7#b7 
( ?is s5t5ce & ins]t+ ! foll[+3         
8,commodity ,futures ,trad+ ,commission 
,act ( #aigd4  7ii7 ,applicability      
,clause 7i7 only applies if ! advice by 
! p]son describ$ 9 subclause 7,i7 or    
7,,ii7 ( clause 7i7  2  7,e7 by /rik+   
bus9ess3 & ins]t+ bus9ess42 &  7,f7 by  
/rik+ ,provid$1 ,t su* p]son %all be    
subject to proce$+s "u section #ad ( ?is
 ,act4 & ins]t+ ! foll[+3  7,b7         
,compla9ts aga9/ except$ p]sons ,a p]son
 describ$ 9 subclause 7,i7 or 7,,ii7 (  
clause 7i7 %all be subject to proce$+s  
"u section #ad4  7,c7 ,*>itable         

organizations ,?is section %all n apply 
to any commodity trad+ advisor or       
commodity pool op]ator t is-- 7i7 a     
*>itable organization1 z def9$ 9 section
 #c7;c77#aj77;,d77iii7 ( ! ,inve/m5t    
,company ,act ( #aidj 7#ae ,u4,s4,c4    
#hj;a-#c7;c77#aj77;,d77iii771 or a      
tru/ee1 director1 (fic]1 employee1 or   
volunte] ( su* a *>itable organization  
act+ )9 ! scope ( ! employm5t or duties 
( ! p]son ) ! organization1 ^: trad+    
advice is provid$ only to1 or ) respect 
to1 #a or m (--  7,i7 any su* *>itable  
organizations2 or  7,,ii7 an inve/m5t   
tru/1 syndicate1 or simil> =m (         
ent]prise exclud$ f ! def9ition (       
inve/m5t company pursuant to section    
#c7;c77#aj7 ( ! ,inve/m5t ,company ,act 
( #aidj 7#ae ,u4,s4,c4                  
#hj;a-#c7;c77#aj772 or  7ii7 any plan1  
company1 or acc\nt describ$ 9 section   
#c7;c77#ad7 ( ! ,inve/m5t ,company ,act 
( #aidj 7#ae ,u4,s4,c4                  
#hj;a-#c7;c77#ad771 any p]son or entity 
:o e/abli%es or ma9ta9s su* a plan1     

company1 or acc\nt1 or any tru/ee1      
director1 (fic]1 employee1 or volunte] =
 any ( ! =ego+ plans1 p]sons1 or        
entities act+ )9 ! scope ( ! employm5t  
or duties ( ! p]son ) ! organization1 ^:
 trad+ advice is provid$ only to1 or )  
respect to1 any inve/m5t tru/1          
syndicate1 or simil> =m ( ent]prise     
exclud$ f ! def9ition ( inve/m5t company
 pursuant to section #c7;c77#ad7 ( !    
,inve/m5t ,company ,act ( #aidj 7#ae    
,u4,s4,c4 #hj;a-#c7;c77#ad774  2  7#c7  
by /rik+ 7#b7 ,no?+ 9 ?is ,act & ins]t+ 
! foll[+3  7b7 ,relation%ip to o!r law  
,no?+ 9 ?is ,act  2  7#d7 by /rik+ 7#c7 
,exception4-- & all t foll[s ?r\gh      
,p>agraph 7#a7 %all n apply & ins]t+ !  
foll[+3  7c7 ,exception  7#a7 ,9 g5]al  
,subsection 7a7 %all n apply  2  7#e7 by
 /rik+ 7,b7 ,engag$ prim>ily4--,=       
purposes ( subp>agraph 7,a7 & ins]t+ !  
foll[+3  7#b7 ,engag$ prim>ily ,=       
purposes ( p>agraph 7#a7  2  7#f7 by    
/rik+ 7,c7 ,commodity int]e/s4--,=      
purposes ( ?is p>agraph & ins]t+ !      

foll[+3  7#c7 ,commodity int]e/s ,=     
purposes ( ?is subsection  2 &  7#g7 by 
add+ at ! end ! foll[+3  7d7 ,disclosure
 conc]n+ exempt$ *>itable organizations 
,a commodity trad+ advisor or commodity 
pool op]ator t is an organization or    
p]son describ$ 9 subsection             
7a77#b77;,c77i7 to or ( any inve/m5t    
tru/1 syndicate1 or simil> =m (         
ent]prise exclud$ f ! def9ition (       
inve/m5t company pursuant to section    
#c7;c77#aj77;,b7 ( ! ,inve/m5t ,company 
,act ( #aidj 7#ae ,u4,s4,c4             
#hj;a-#c7;c77#aj77;,b77 %all provide    
disclosure 9 accordance ) section #g7;e7
 ( t ,act 7#ae ,u4,s4,c4 #hj;a-#g7;e774 
4