Page:United States Statutes at Large Volume 96 Part 2.djvu/932

 96 STAT. 2294

PUBLIC LAW 97-444—JAN. 11, 1983

Public Law 97-444 97th Congress An Act Jan. 11, 1983 [H.R. 5447]

fo extend the Commodity Exchange Act, and for other purposes.

Be it enacted by the Senate and House of Representatives of the Futures Trading United States of America in Congress assembled, That this Act may f u s e 1 note. ^ ^ited as the "Futures Trading Act of 1982". TITLE I-JURISDICTION OPTIONS; FUTURES CONTRACTS

7 USC 2, 4. '7 USC 2.

7 USC 2a.

15 USC 77b. 15 USC 78c.

SEC. 101. (a) Section 2(a) of the Commodity Exchange Act (7 U.S.C. 2) is amended by— (1) redesignating paragraph (1) as paragraph (1)(A); (2) inserting in the third sentence of paragraph (I)(A), as so redesignated ", except to the extent otherwise provided in subparagraph (B) of this paragraph," after "exclusive jurisdiction"; (3) adding a new subparagraph (B) to read as follows: "(B) Notwithstanding any other provision of law— "(i) This Act shall not apply to and the (I!ommission shall have no jurisdiction to designate a board of trade as a contract market for any transaction whereby any party to such transaction acquires any put, call, or other option on one or more securities (as defined in section 2(1) of the Securities Act of 1933 or section 3(a)(10) of the Securities Exchange Act of 1934 on the date of enactment of the Futures Trading Act of 1982), including any group or index of such securities, or any interest therein or based on the value thereof. "(ii) This Act shall apply to and the Commission shall have exclusive jurisdiction with respect to accounts, Eigreements (including any transaction which is of the character of, or is commonly known to the trade as, an 'option', 'privilege', 'indemnity', 'bid', 'offer', 'put', 'call', 'advance guaranty', or 'decline guaranty') and transactions involving, and may designate a board of trade as a contract market in, contracts of sale (or options on such contracts) for future delivery of a group or index of securities (or any interest therein or based upon the value thereof): Provided, however. That no board of trade shall be designated as a contract market with respect to any such contracts of sale (or options on such contracts) for future delivery unless the board of trade making such application demonstrates and the Commission expressly finds that the specific contract (or option on such contract) with respect to which the application has been made meets the following minimum requirements:

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