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7 U.S.C. § 6q — Special procedures to encourage and facilitate bona fide hedging by agricultural producers
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority** The Commission shall consider issuing rules or orders which—
(1) prescribe procedures under which each contract market is to provide for orderly delivery, including temporary storage costs, of any agricultural commodity enumerated in [section 1a(9) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1a/9&num=0&edition=prelim) which is the subject of a contract for purchase or sale for future delivery;
(2) increase the ease with which domestic agricultural producers may participate in contract markets, including by addressing cost and margin requirements, so as to better enable the producers to hedge price risk associated with their production;
(3) provide flexibility in the minimum quantities of such agricultural commodities that may be the subject of a contract for purchase or sale for future delivery that is traded on a contract market, to better allow domestic agricultural producers to hedge such price risk; and
(4) encourage contract markets to provide information and otherwise facilitate the participation of domestic agricultural producers in contract markets.
**(b) Report** Within 1 year after December 21, 2000, the Commission shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report on the steps it has taken to implement this section and on the activities of contract markets pursuant to this section.
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Source file: Laws/federal/codes/united-states-code/title-7/section-6q-special-procedures-to-encourage-and-facilitate-bona-fide-hedging-by-agri--7cdc2fd2b0.md
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Source location: Title 7, Chapter 1, § 6q; chapter-001-commodity-exchanges.md
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**(a) Authority** The Commission shall consider issuing rules or orders which—
(1) prescribe procedures under which each contract market is to provide for orderly delivery, including temporary storage costs, of any agricultural commodity enumerated in [section 1a(9) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1a/9&num=0&edition=prelim) which is the subject of a contract for purchase or sale for future delivery;
(2) increase the ease with which domestic agricultural producers may participate in contract markets, including by addressing cost and margin requirements, so as to better enable the producers to hedge price risk associated with their production;
(3) provide flexibility in the minimum quantities of such agricultural commodities that may be the subject of a contract for purchase or sale for future delivery that is traded on a contract market, to better allow domestic agricultural producers to hedge such price risk; and
(4) encourage contract markets to provide information and otherwise facilitate the participation of domestic agricultural producers in contract markets.
**(b) Report** Within 1 year after December 21, 2000, the Commission shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report on the steps it has taken to implement this section and on the activities of contract markets pursuant to this section.
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter:
(1) **Alternative trading system** — The term “alternative trading system” means an organization, association, or group of persons that—
(A) is registered as a broker or dealer pursuant to section 15(b) of the Securities Exchange Act of 1934 [[15 U.S.C. 78](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78&num=0&edition=prelim)o(b)] (except paragraph (11) thereof);
(B) performs the functions commonly performed by an exchange (as defined in section 3(a)(1) of the Securities Exchange Act of 1934 [[15 U.S.C. 78c(a)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/1&num=0&edition=prelim)]);
(C) does not—
(i) set rules governing the conduct of subscribers other than the conduct of such subscribers’ trading on the alternative trading system; or
(ii) discipline subscribers other than by exclusion from trading; and
(D) is exempt from the definition of the term “exchange” under such section 3(a)(1) [[15 U.S.C. 78c(a)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/1&num=0&edition=prelim)] by rule or regulation of the Securities and Exchange Commission on terms that require compliance with regulations of its trading functions.
(2) **Appropriate Federal banking agency** — The term “appropriate Federal banking agency”—
(A) has the meaning given the term in [section 1813 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim);
(B) means the Board in the case of a noninsured State bank; and
(C) is the Farm Credit Administration for farm credit system institutions.
(3) **Associated person of a security-based swap dealer or major security-based swap participant** — T
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1a
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section, Sept. 21, 1922, ch. 369, § 4q, formerly § 4p, as added Pub. L. 106–554, § 1(a)(5) [title I, § 121], Dec. 21, 2000, 114 Stat. 2763, 2763A–404, and renumbered, which related to special procedures to encourage and facilitate bona fide hedging by agricultural producers, was transferred to [section 6q of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6q&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 6o–1
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Commission may specify by rules and regulations appropriate standards with respect to training, experience, and such other qualifications as the Commission finds necessary or desirable to insure the fitness of persons required to be registered with the Commission. In connection therewith, the Commission may prescribe by rules and regulations the adoption of written proficiency examinations to be given to applicants for registration and the establishment of reasonable fees to be charged to such applicants to cover the administration of such examinations. The Commission may further prescribe by rules and regulations that, in lieu of examinations administered by the Commission, futures associations registered under [section 21 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section21&num=0&edition=prelim), contract markets, or derivatives transaction execution facilities may adopt written proficiency examinations to be given to applicants for registration and charge reasonable fees to such applicants to cover the administration of such examinations. Notwithstanding any other provision of this section, the Commission may specify by rules and regulations such terms and conditions as it deems appropriate to protect the public interest wherein exception to any written proficiency examination shall be made with respect to individuals who have demonstrated, through training and experience, the degree of proficiency and skill necessary to protect the interests of customers, clients, pool participants, or other members of the public with whom such individuals deal.
**(b)** The Commission shall issue regulations to require new registrants, within six months after receiving such registration, to attend a training session, and all other
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 6p
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Federal law — U.S. Code and appendices · legal_authorities
Page 74
TITLE 7—AGRICULTURE
§ 6q
1 So in original. Probably should be capitalized.
tect the public interest wherein exception to
any written proficiency examination shall be
made with respect to individuals who have dem-
onstrated, through training and experience, the
degree of proficiency and skill necessary to pro-
tect the interests of customers, clients, pool
participants, or other members of the public
with whom such individuals deal.
(b) The Commission shall issue regulations to
require new registrants, within six months after
receiving such registration, to attend a training
session, and all other registrants to attend peri-
odic training sessions, to ensure that registrants
understand their responsibilities to the public
under this chapter, including responsibilities to
observe just and equitable principles of trade,
any rule or regulation of the Commission, any
rule of any appropriate contract market, deriva-
tives transaction execution facility, registered
futures association, or other self-regulatory or-
ganization, or any other applicable Federal or
state 1 law, rule or regulation.
(Sept. 21, 1922, ch. 369, § 4p, as added Pub. L.
93–463, title II, § 206, Oct. 23, 1974, 88 Stat. 1400;
amended Pub. L. 97–444, title II, § 215, Jan. 11,
1983, 96 Stat. 2305; Pub. L. 102–546, title II,
§ 210(a), Oct. 28, 1992, 106 Stat. 3607; Pub. L.
106–554, § 1(a)(5) [title I, § 123(a)(11)], Dec. 21, 2000,
114 Stat. 2763, 2763A–408.)
Editorial Notes
CODIFICATION
Another section 4p of act Sept. 21, 1922, was renum-
bered section 4q and is classified to section 6q of this
title.
AMENDMENTS
2000—Subsec. (a). Pub. L. 106–554, § 1(a)(5) [title I,
§ 123(a)(11)(A)], substituted ‘‘title, contract markets, or
derivatives transaction execution facilities’’
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 6q
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.