{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-46.3.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-46.3.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-46.3.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-46.3.html"}],"law_id":77857,"edition_id":1,"section_id":77857,"structure_id":15970,"section_number":"56-46.3","catch_line":"Foreign utility companies; penalties","history":"1997, c. 110; 2014, c. 192.","full_text":"A\n\nThe provisions of the Public Utility Holding Company Act of 2005 (PUHCA), which is set out at § 1261 et seq. of the Energy Policy Act of 2005, stipulate that certain exemptions afforded a foreign utility company (FUCO) under PUHCA are not applicable unless every state commission having jurisdiction over the retail electric or gas rates of a public utility company that is an associate company or an affiliate of a company (other than a public utility company that is an associate company or an affiliate of a registered holding company under PUHCA) has certified to the U.S. Securities and Exchange Commission (SEC) that it has the authority and resources to protect ratepayers subject to its jurisdiction and that it intends to exercise its authority.B\n\nUpon application to the Commission by any person that (i) is an affiliated interest of a public service company, as such terms are defined in Chapter 4 (§ 56-76 et seq.) of this title, (ii) proposes to invest in or acquire a specific FUCO, and (iii) is not a registered holding company under PUHCA, and subject to the proviso contained herein, the Commission shall have the authority to impose upon, and require of, the applicant, the public service company, and any other “affiliated interests” of such public service company, such terms, conditions, limitations, restrictions, undertakings and commitments as the Commission deems necessary to protect the public interest from any adverse effects attributable to such proposed FUCO investment or acquisition, including such provisions for the enforcement thereof as the Commission shall deem necessary; and, upon doing so, may certify to the SEC that the Commission has the authority and resources to protect the ratepayers of such public service company subject to its jurisdiction and that it intends to exercise its authority; provided, however, that such applicant, the public service company, and such other affiliated interests of such public service company shall have furnished to the Commission, prior to delivery of said certification to the SEC, and in the manner prescribed by the Commission, a written statement accepting all such terms, conditions, limitations, restrictions, undertakings and commitments, as the Commission shall have so specified.C\n\nThe Commission shall have the power to enforce the terms, conditions, limitations, restrictions, undertakings and commitments upon which said certification was based, including the power to penalize for and enjoin the violation or attempted violation thereof, and to issue mandatory injunctions requiring such actions as may be in the public interest to remedy any such violation or attempted violation. Any person committing any such violation or attempted violation, or failing or refusing to obey any order or injunction of the Commission issued under this section, may be fined by the Commission such sum, not exceeding $100,000, as the Commission may deem proper, and each day’s continuance of such condition shall be a separate offense.","order_by":null,"text":{"0":{"id":279214,"text":"The provisions of the Public Utility Holding Company Act of 2005 (PUHCA), which is set out at § 1261 et seq. of the Energy Policy Act of 2005, stipulate that certain exemptions afforded a foreign utility company (FUCO) under PUHCA are not applicable unless every state commission having jurisdiction over the retail electric or gas rates of a public utility company that is an associate company or an affiliate of a company (other than a public utility company that is an associate company or an affiliate of a registered holding company under PUHCA) has certified to the U.S. Securities and Exchange Commission (SEC) that it has the authority and resources to protect ratepayers subject to its jurisdiction and that it intends to exercise its authority.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":279215,"text":"Upon application to the Commission by any person that (i) is an affiliated interest of a public service company, as such terms are defined in Chapter 4 (§ 56-76 et seq.) of this title, (ii) proposes to invest in or acquire a specific FUCO, and (iii) is not a registered holding company under PUHCA, and subject to the proviso contained herein, the Commission shall have the authority to impose upon, and require of, the applicant, the public service company, and any other “affiliated interests” of such public service company, such terms, conditions, limitations, restrictions, undertakings and commitments as the Commission deems necessary to protect the public interest from any adverse effects attributable to such proposed FUCO investment or acquisition, including such provisions for the enforcement thereof as the Commission shall deem necessary; and, upon doing so, may certify to the SEC that the Commission has the authority and resources to protect the ratepayers of such public service company subject to its jurisdiction and that it intends to exercise its authority; provided, however, that such applicant, the public service company, and such other affiliated interests of such public service company shall have furnished to the Commission, prior to delivery of said certification to the SEC, and in the manner prescribed by the Commission, a written statement accepting all such terms, conditions, limitations, restrictions, undertakings and commitments, as the Commission shall have so specified.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":279216,"text":"The Commission shall have the power to enforce the terms, conditions, limitations, restrictions, undertakings and commitments upon which said certification was based, including the power to penalize for and enjoin the violation or attempted violation thereof, and to issue mandatory injunctions requiring such actions as may be in the public interest to remedy any such violation or attempted violation. Any person committing any such violation or attempted violation, or failing or refusing to obey any order or injunction of the Commission issued under this section, may be fined by the Commission such sum, not exceeding $100,000, as the Commission may deem proper, and each day’s continuance of such condition shall be a separate offense.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":15970,"edition_id":1,"name":"Companies in Which Commonwealth Is Interested","identifier":"6","label":"article","depth":3,"order_by":1,"parent_id":13586,"metadata":{},"date_created":"2026-06-26 04:02:55","date_modified":"2026-06-26 04:02:55","permalink":{"id":248703,"object_type":"structure","relational_id":15970,"identifier":"6","token":"56\/1\/6","url":"\/56\/1\/6\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13586,"edition_id":1,"name":"General Provisions","identifier":"1","label":"chapter","depth":2,"order_by":1,"parent_id":12881,"metadata":{},"date_created":"2026-06-26 03:45:19","date_modified":"2026-06-26 03:45:19","permalink":{"id":248475,"object_type":"structure","relational_id":13586,"identifier":"1","token":"56\/1","url":"\/56\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12881,"edition_id":1,"name":"Public Service Companies","identifier":"56","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:58","date_modified":"2026-06-26 03:43:58","permalink":{"id":248473,"object_type":"structure","relational_id":12881,"identifier":"56","token":"56","url":"\/56\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":63367,"structure_id":15970,"section_number":"56-44","catch_line":"Repealed","url":"\/56-44\/","token":"56\/1\/6\/56-44","metadata":false},{"id":71170,"structure_id":15970,"section_number":"56-46.1","catch_line":"Commission to consider environmental, economic, and improvements in service reliability factors in approving construction of electrical utility facilities; approval required for construction of certain electrical transmission lines; notice and hearings","url":"\/56-46.1\/","token":"56\/1\/6\/56-46.1","metadata":false},{"id":62247,"structure_id":15970,"section_number":"56-46.2","catch_line":"Construction of electrical transmission lines","url":"\/56-46.2\/","token":"56\/1\/6\/56-46.2","metadata":false},{"id":77857,"structure_id":15970,"section_number":"56-46.3","catch_line":"Foreign utility companies; penalties","url":"\/56-46.3\/","token":"56\/1\/6\/56-46.3","metadata":false}],"previous_section":{"id":62247,"structure_id":15970,"section_number":"56-46.2","catch_line":"Construction of electrical transmission lines","url":"\/56-46.2\/","token":"56\/1\/6\/56-46.2","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-46.3\/","history_text":"

This law was first created in 1997. The record of its establishment is cataloged in chapter 110<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2014, chapter 192<\/a>.<\/p>","references":false,"refers_to":[{"id":58706,"section_number":"56-76","catch_line":"Definitions","order_by":null,"url":"\/56-76\/"}],"permalink":{"id":248717,"object_type":"law","relational_id":77857,"identifier":"56-46.3","token":"56\/1\/6\/56-46.3","url":"\/56-46.3\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-46.3\/","token":"56\/1\/6\/56-46.3","dublin_core":{"Title":"Foreign utility companies; penalties","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-46.3","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The provisions of the Public Utility Holding Company<\/span> Act of 2005 (PUHCA), which is set out at § 1261 et seq. of the Energy Policy Act of 2005, stipulate that certain exemptions afforded a foreign utility company<\/span> (FUCO) under PUHCA are not applicable unless every state commission<\/span> having jurisdiction<\/span> over the retail electric or gas rates<\/span> of a public utility company<\/span> that is an associate company<\/span> or an affiliate of a company<\/span> (other than a public utility company<\/span> that is an associate company<\/span> or an affiliate of a registered holding company<\/span> under PUHCA) has certified to the U.S. Securities and Exchange Commission<\/span> (SEC) that it has the authority and resources to protect ratepayers subject to its jurisdiction<\/span> and that it intends to exercise its authority. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Upon application to the Commission<\/span> by any person<\/span> that (i) is an affiliated interest of a public service company<\/span>, as such terms are defined in Chapter 4 (§ 56-76<\/a> et seq.) of this title, (ii) proposes to invest in or acquire a specific FUCO, and (iii) is not a registered holding company under PUHCA, and subject to the proviso contained herein, the Commission<\/span> shall have the authority to impose upon, and require of, the applicant, the public service company<\/span>, and any other “affiliated interests” of such public service company<\/span>, such terms, conditions, limitations, restrictions, undertakings and commitments as the Commission<\/span> deems necessary to protect the public interest from any adverse effects attributable to such proposed FUCO investment or acquisition, including such provisions for the enforcement thereof as the Commission<\/span> shall deem necessary; and, upon doing so, may certify to the SEC that the Commission<\/span> has the authority and resources to protect the ratepayers of such public service company<\/span> subject to its jurisdiction<\/span> and that it intends to exercise its authority; provided, however, that such applicant, the public service company<\/span>, and such other affiliated interests of such public service company<\/span> shall have furnished to the Commission<\/span>, prior to delivery of said certification to the SEC, and in the manner prescribed by the Commission<\/span>, a written statement accepting all such terms, conditions, limitations, restrictions, undertakings and commitments, as the Commission<\/span> shall have so specified. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Commission<\/span> shall have the power to enforce the terms, conditions, limitations, restrictions, undertakings and commitments upon which said certification was based, including the power to penalize for and enjoin the violation or attempted violation thereof, and to issue<\/span> mandatory injunctions<\/span> requiring such actions as may be in the public interest to remedy any such violation or attempted violation. Any person<\/span> committing any such violation or attempted violation, or failing or refusing to obey any order<\/span> or injunction<\/span> of the Commission<\/span> issued under this section, may be fined by the Commission<\/span> such sum, not exceeding $100,000, as the Commission<\/span> may deem proper, and each day’s continuance<\/span> of such condition shall be a separate offense<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFOREIGN UTILITY COMPANIES; PENALTIES (\u00a7 56-46.3)\n\nA. The provisions of the Public Utility Holding Company Act of 2005 (PUHCA),\nwhich is set out at § 1261 et seq. of the Energy Policy Act of 2005,\nstipulate that certain exemptions afforded a foreign utility company (FUCO)\nunder PUHCA are not applicable unless every state commission having jurisdiction\nover the retail electric or gas rates of a public utility company that is an\nassociate company or an affiliate of a company (other than a public utility\ncompany that is an associate company or an affiliate of a registered holding\ncompany under PUHCA) has certified to the U.S. Securities and Exchange\nCommission (SEC) that it has the authority and resources to protect ratepayers\nsubject to its jurisdiction and that it intends to exercise its authority.\n\nB. Upon application to the Commission by any person that (i) is an affiliated\ninterest of a public service company, as such terms are defined in Chapter 4\n(§ 56-76 et seq.) of this title, (ii) proposes to invest in or acquire a\nspecific FUCO, and (iii) is not a registered holding company under PUHCA, and\nsubject to the proviso contained herein, the Commission shall have the authority\nto impose upon, and require of, the applicant, the public service company, and\nany other “affiliated interests” of such public service company,\nsuch terms, conditions, limitations, restrictions, undertakings and commitments\nas the Commission deems necessary to protect the public interest from any\nadverse effects attributable to such proposed FUCO investment or acquisition,\nincluding such provisions for the enforcement thereof as the Commission shall\ndeem necessary; and, upon doing so, may certify to the SEC that the Commission\nhas the authority and resources to protect the ratepayers of such public service\ncompany subject to its jurisdiction and that it intends to exercise its\nauthority; provided, however, that such applicant, the public service company,\nand such other affiliated interests of such public service company shall have\nfurnished to the Commission, prior to delivery of said certification to the SEC,\nand in the manner prescribed by the Commission, a written statement accepting\nall such terms, conditions, limitations, restrictions, undertakings and\ncommitments, as the Commission shall have so specified.\n\nC. The Commission shall have the power to enforce the terms, conditions,\nlimitations, restrictions, undertakings and commitments upon which said\ncertification was based, including the power to penalize for and enjoin the\nviolation or attempted violation thereof, and to issue mandatory injunctions\nrequiring such actions as may be in the public interest to remedy any such\nviolation or attempted violation. Any person committing any such violation or\nattempted violation, or failing or refusing to obey any order or injunction of\nthe Commission issued under this section, may be fined by the Commission such\nsum, not exceeding $100,000, as the Commission may deem proper, and each\nday’s continuance of such condition shall be a separate offense.\n\nHISTORY: 1997, c. 110; 2014, c. 192.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}