Page:United States Statutes at Large Volume 49 Part 1.djvu/896

 74TH CONGRESS. SESS. I. CII. 687 . AUGUST 26, 1935 . 851 "(e) Subsection (a) shall not apply to the issue or renewal of, or Sho rt-t erm f inan cing . assumpti on of li ability on, a no te or dr aft matu ring not more th an one year after the date of such issue, renewal, or assumption of liability, and aggregating (together with all other then outstanding notes and drafts of a maturity of one year or less on which such public utility is prim arily or seconda rily lia ble) not more th an 5 per centum of the par value of the other securities of the public utility then outstanding . In the case of securities having no par Par valu es . value, the par value for the purpose of this subsection shall be the fair market value as of the date of issue . Within ten da ys after certificate of notifi- cation ca tion any such iss ue, renewal, o r assumption of liability, the public ut ility of liabili ty ass umption shall file with the Commission a certificate of notification, in such form as may be prescribed by the Commission, setting forth such matters as the Commission shall by regulation require. i4 (f) The provisions of this section shall not extend to a public laieau ity issues utilit y organi zed and operatin g in a S tate und er the l aws of w hich mission. its security issues are regulated by a State commission. " (g) Nothing in this section shall be construed to imply any Guaranty . guarantee or obligation on the part of the United States in respect of any se curities to wh ich the provi sions of this section relat e . " (h) Any public utility whose security issues are approved by reDup lic ate copies of the Co mmission under t his sect ion may file wit h the Se curities and Exchange Commission duplicate copies of reports filed with the Federal Power Commission in lieu of the reports, information, and documents required under section 7 of the Securities Act of 1933 and t ~s . 11,pp. , S92 ; p, 535 . sections 12 and 13 of the Securities and Exchange Act of 1934. " RATES AND CHARGES SCHEDULES ; SUSPENSION OF NEW RATES Rates and charge; . "SEC. 205 . (a) All rates and charges made, demanded, or received it Duty of publi c util- by any public utility for or in connection with the transmission or sal e of ele ctri c en ergy sub ject to the juri sdic tion of the Comm issi on, and all rules and regulations affecting or pertaining to such rates or charges shall be just and reasonable, and any such rate or charge that is not just and reasonable is hereby declared to be unlawful. "(b) No public utility shall, with respect to any transmission or Proh ibit ion on grant- ing undue preferences sale subject to the jurisdiction of the Commission, (1) make or grant or advantages . any undue preference or advantage to any person or subject any person to any undue prejudice or disadvantage, or (2) maintain any unr easo nabl e di ffer ence in rate s, c harg es, serv ice, fac ilit ies, or in any ot her respect, e ither as betw een localitie s or as betwee n classes of servic e . "(c) Unde r such rules and regula tions as the Comm ission may scheduleofratasand b . charges; filing, inspee- pre scri be, ever y pu blic uti lity sha ll f ile with the Com miss ion, wit hin tion. such time and in such form as the Commission may designate, and shall keep ope n in con venient form and place f or publi c inspec tion schedules showing all rates and charges for any transmission or sale sub ject to the juri sdic tion of the Comm issi on, and the clas sifi cati ons, practices, and regulations affecting such rates and charges, together with all contracts which in any manner affect or relate to such rates, charges, classifications, and services. "(d) Unless t he Commi ssion ot herwise orders, no chang e shall be Cha ng esin . made by any public utility in any such rate, charge, classification, or service, or in any rule, regulation, or contract relating thereto, except after thirty days' notice to the Commission and to the public . I oticerequired . Such notice shall be given b filing with the Commission and keeping manner of giving t 3 filing en notice . open for public inspection new schedules stating plainly the change or changes to be made in the schedule or schedules then in force and the time when the change or chang es wil l go into e ffect . The