RULE OF CONSTRUCTION.

SEC. 111. RULE OF CONSTRUCTION. (a) In General.— No provision of, or amendment made by, this title may be construed— (1) to govern the initial issuance of any public debt obligation, or (2) to grant any authority to (or extend any authority of) the Securities and Exchange Commission, any appropriate regulatory agency, or a self-regulatory organization— (A) to prescribe any procedure, term, or condition of such initial issuance, (B) to promulgate any rule or regulation governing such initial issuance, or (C) to otherwise regulate in any manner such initial issuance. (b) Exception.— Subsection (a) of this section shall not apply to the amendment made by section 110 of this Act. 107 STAT. 2354 (c) Public Debt Obligation.— For purposes of this section, the term “public debt obligation” means an obligation subject to the public debt limit established in section 3101 of title 31, United States Code.