To clarify the exempting authority of the Securities and Exchange Commission under the Public Utility Holding Company Act of 1935.

[AI summary unavailable — showing source text] Provides that for purposes of retaining the exempt status of a certain holding companies under the Public Utilities Holding Company Act of 1935, a particular indirectly owned electric utility company incorporated in another State shall be deemed to be operating as part of the holding company and not as a separately incorporated company.…