Page:United States Statutes at Large Volume 93.djvu/127

 PUBLIC LAW 96-37—JULY 23, 1979

93 STAT. 95

Public Law 96-37 96th Congress An Act To amend the Federal Trade Commission Act to exempt savings and loan institutions from the application of certain provisions contained in such Act.

July 23, 1979 [H.R. 3978]

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled. That section 5(a)(2)Federeil Trade of the Federal Trade Commission Act (15 U.S.C. 45(a)(2)) is amended Commission Act, £miendment. by inserting after "banks," the following: "savings and loan institu- Savings and loan tions described in section 18(f)(3),". (b)(1) Section 6(a) of the Federal Trade Commission Act (15 U.S.C. institutions, 46(a)) is amended by inserting after "banks" the following: ", savings certain exemptions. and loan institutions described in section 18(f)(3),". 15 USC 57a. (2) Section 6(b) of the Federal Trade Commission Act (15 U.S.C. 46(b)) is amended by inserting after "banks" the following: "savings and loan institutions described in section 18(f)(3),". (3) The proviso at the end of section 6 of the Federal Trade Commission Act (15 U.S.C. 46) is amended— (A) by inserting after "banks" the following: ", savings and loan institutions described in section 18(f)(3),"; and (B) by inserting ", in business as a savings and loan institution," after "banking". (c)(1) Section 18(f)(1) of the Federal Trade Commission Act (15 U.S.C. 57a(f)(l)) is amended— (A) in the first sentence thereof^ (i) by inserting "or savings and loan institutions described in paragraph (3)" after "banks" each place it appears therein; and (ii) by inserting "or (3)" after "(2)"; (B) in the second sentence thereof, by inserting after "System" the following: "(with respect to banks) and the Federal Home Loan Bank Board (with respect to savings and loan institutions described in paragraph (3))"; and (C) in the last sentence thereof— (i) by inserting "each" before "such Board" the first place it appears therein; (ii) by striking out "such Board finds that (A)" and inserting in lieu thereof "(A) either such Board finds that"; (iii) by inserting "or savings and loan institutions described in paragraph (3), as the case may be," after "banks" the first and second places it appears therein; (iv) by inserting after "or (B)" the following: "the Board of Governors of the Federal Reserve System finds"; and ,(v) by striking out "the Board" and inserting in lieu thereof "such Board". (2) Section 18(f) of the Federal Trade Commission Act (15 U.S.C. 57a(f)) is amended by redesignating paragraphs (3), (4), and (5) thereof as paragraphs (4), (5), and (6), respectively, and by inserting after paragraph (2) thereof the following new paragraph:

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