[108th Congress Public Law 359]
[From the U.S. Government Printing Office]
[DOCID: f:publ359.108]
[[Page 118 STAT. 1666]]
Public Law 108-359
108th Congress
An Act
To amend the securities laws to permit church pension plans to be
invested in collective trusts. <<NOTE: Oct. 25, 2004 - [H.R. 1533]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. CONFORMING AMENDMENTS FOR CHURCH PLAN PARTICIPATION IN
COLLECTIVE FUNDS.
(a) Amendment to the Investment Company Act of 1940.--Section
3(c)(11) of the Investment Company Act of 1940 (15 U.S.C. 80a-3(c)(11))
is amended by striking ``such trusts or government plans, or both'' and
inserting ``one or more of such trusts, government plans, or church
plans, companies or accounts that are excluded from the definition of an
investment company under paragraph (14) of this subsection''.
(b) Amendments to the Securities Act of 1933.--Section 3(a)(2) of
the Securities Act of 1933 (15 U.S.C. 77c(a)(2)) is amended--
(1) by striking ``or'' at the end of clause (B); and
(2) by striking ``other than any plan described in clause
(A), (B), or (C)'' and inserting the following: ``or (D) a
church plan, company, or account that is excluded from the
definition of an investment company under section 3(c)(14) of
the Investment Company Act of 1940, other than any plan
described in subparagraph (A), (B), (C), or (D)''.
(c) Amendments to the Securities Exchange Act of 1934.--
(1) Section 3(a)(12)(C) of the Securities Exchange Act of
1934 (15 U.S.C. 78c(a)(12)(C)) is amended--
(A) by striking ``or'' at the end of clause (ii);
and
(B) by inserting before ``other than any plan
described in clause (i)'' the following: ``or (iv) a
church plan, company, or account that is excluded from
the definition of an investment company under section
3(c)(14) of the Investment Company Act of 1940,''.
(2) Section 12(g)(2)(H) of the Securities Exchange Act of
1934 (15 U.S.C. 78l(g)(2)(H)) is amended--
(A) by striking ``or'' at the end of clause (i); and
(B) by inserting before the period at the end the
following: ``, or (iii) a church plan, company, or
account that is excluded from the definition of an
investment company
[[Page 118 STAT. 1667]]
under section 3(c)(14) of the Investment Company Act of
1940''.
Approved October 25, 2004.
LEGISLATIVE HISTORY--H.R. 1533:
---------------------------------------------------------------------------
HOUSE REPORTS: No. 108-248 (Comm. on Financial Services).
CONGRESSIONAL RECORD:
Vol. 149 (2003):
Sept. 3, considered and passed
House.
Vol. 150 (2004):
Oct. 1, considered and passed
Senate, amended.
Oct. 8, House concurred in Senate
amendment.
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