
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 16USC824b]

 
                         TITLE 16--CONSERVATION
 
         CHAPTER 12--FEDERAL REGULATION AND DEVELOPMENT OF POWER
 
   SUBCHAPTER II--REGULATION OF ELECTRIC UTILITY COMPANIES ENGAGED IN 
                           INTERSTATE COMMERCE
 
Sec. 824b. Disposition of property; consolidations; purchase of 
        securities
        

(a) Authorizations

    No public utility shall sell, lease, or otherwise dispose of the 
whole of its facilities subject to the jurisdiction of the Commission, 
or any part thereof of a value in excess of $50,000, or by any means 
whatsoever, directly or indirectly, merge or consolidate such facilities 
or any part thereof with those of any other person, or purchase, 
acquire, or take any security of any other public utility, without first 
having secured an order of the Commission authorizing it to do so. Upon 
application for such approval the Commission shall give reasonable 
notice in writing to the Governor and State commission of each of the 
States in which the physical property affected, or any part thereof, is 
situated, and to such other persons as it may deem advisable. After 
notice and opportunity for hearing, if the Commission finds that the 
proposed disposition, consolidation, acquisition, or control will be 
consistent with the public interest, it shall approve the same.

(b) Orders of Commission

    The Commission may grant any application for an order under this 
section in whole or in part and upon such terms and conditions as it 
finds necessary or appropriate to secure the maintenance of adequate 
service and the coordination in the public interest of facilities 
subject to the jurisdiction of the Commission. The Commission may from 
time to time for good cause shown make such orders supplemental to any 
order made under this section as it may find necessary or appropriate.

(June 10, 1920, ch. 285, pt. II, Sec. 203, as added Aug. 26, 1935, ch. 
687, title II, Sec. 213, 49 Stat. 849.)

                          Transfer of Functions

    Federal Power Commission terminated and its functions with regard to 
establishment, review, and enforcement of rates and charges for 
transmission or sale of electric energy, including determinations on 
construction work in progress under this subchapter transferred to 
Federal Energy Regulatory Commission by sections 7172(a)(1)(B) and 7293 
of Title 42, The Public Health and Welfare.
    Executive and administrative functions of Federal Power Commission, 
with certain reservations, transferred to Chairman of such Commission, 
with authority vested in him to authorize their performance by any 
officer, employee, or administrative unit under his jurisdiction, by 
Reorg. Plan No. 9 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175, 
64 Stat. 1265, set out as a note under section 792 of this title.
