REGISTRATION OF CERTIFICATES.

SEC. 205. REGISTRATION OF CERTIFICATES. (a) Certificates Sold Pursuant to Small Business Act.— Section 5(h) of the Small Business Act (15 U.S.C. 634(h)) is amended— (1) by redesignating paragraphs (1) through (4) as subparagraphs (A) through (D); (2) by striking “(h)” and inserting “(h)(1)”; (3) by striking subparagraph (A), as redesignated by paragraph (1) of this subsection, and inserting the following: “(A) provide for a central registration of all loans and trust certificates sold pursuant to subsections (f) and (g) of this section;”; and (4) by adding at the end the following: “(2) Nothing in this subsection shall prohibit the utilization of a book-entry or other electronic form of registration for trust certificates. The Administration may, with the consent of the Secretary of the Treasury, use the book-entry system of the Federal Reserve System.”. (b) Certificates Sold Pursuant to Small Business Investment Company Program.— Section 321(f) (15 U.S.C. 6872(f)) is amended— (1) in paragraph (1), by striking “Such central registration shall include” and all that follows through the period at the end of the paragraph; and (2) by adding at the end the following: “(5) Nothing in this subsection shall prohibit the use of a book-entry or other electronic form of registration for trust certificates.”. (c) Certificates Sold Pursuant to Development Company Program.— Section 505(f) (15 U.S.C. 697b(f)) is amended— (1) by redesignating paragraphs (1) through (4) as subparagraphs (A) through (D); (2) by striking “(f)” and inserting “(f)(1)”; (3) by striking subparagraph (A), as redesignated by paragraph (1) of this subsection, and inserting the following: “(A) provide for a central registration of all trust certificates sold pursuant to this section;” and (4) by adding at the end the following: “(2) Nothing in this subsection shall prohibit the utilization of a book-entry or other electronic form of registration for trust certificates.”.