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18 C.F.R. § 366.23   FERC Form No. 60, annual report of service companies, and FERC–61, narrative description of service company functions.

Title 18: Conservation of Power and Water Resources
PART 366—PUBLIC UTILITY HOLDING COMPANY ACT OF 2005
Subpart B—PUHCA 2005 Accounting and Recordkeeping

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§ 366.23   FERC Form No. 60, annual report of service companies, and FERC–61, narrative description of service company functions.

(a) General.—(1) FERC Form No. 60. Unless otherwise exempted or granted a waiver by Commission rule or order pursuant to §§366.3 and 366.4, every service company in a holding company system that is not a special-purpose company (e.g., a fuel supply company or a construction company) shall file with the Commission by May 1, 2006 and by May 1 each year thereafter, a report, FERC Form No. 60, for the prior calendar year. Every such report shall be submitted on the FERC Form No. 60 then in effect and shall be prepared in accordance with the instructions incorporated in such form.

(2) FERC–61. Unless otherwise exempted or granted a waiver by Commission rule or order pursuant to §§366.3 and 366.4, every service company in a holding company system, including a special-purpose company (e.g., a fuel supply company or a construction company), that does not file a FERC Form No. 60 shall instead file with the Commission by May 1, 2007 and by May 1 each year thereafter, a narrative description, FERC–61, of the service company's functions during the prior calendar year. In complying with this section, a holding company may make a single filing on behalf of all such service company subsidiaries.

(3) For good cause shown, the Commission may extend the time within which any such report or narrative description required to be filed pursuant to paragraphs (a)(1) or (2) of this section is to be filed or waive the requirements applicable to any such report or narrative description. The authority to act on motions for extensions of time to file any such reports or to waive the requirements applicable to any such reports or narrative descriptions, including granting or denying such motions, in whole or in part, is delegated to the Chief Accountant or the Chief Accountant's designee.

(b) Transition period.—Service companies in holding company systems exempted from the requirements of the Public Utility Holding Company Act of 1935 (15 U.S.C. 79a et seq.) need not file an annual report, FERC Form No. 60, for calendar years 2005 and 2006, after which they must comply with the provisions of this section.