REREGISTRATION IN EVENT OF CHANGE IN OWNERSHIP.

SEC. 11164. REREGISTRATION IN EVENT OF CHANGE IN OWNERSHIP.(a) In General.—Section 4101(a) (relating to registration) is amended by adding at the end the following new paragraph:“(4) Reregistration in event of change in ownership.—Under regulations prescribed by the Secretary, a person (other than a corporation the stock of which is regularly traded on an established securities market) shall be required to reregister under this section if after a transaction (or series of related transactions) more than 50 percent of ownership interests in, or assets of, such person are held by persons other than persons (or persons related thereto) who held more than 50 percent of such interests or assets before the transaction (or series of related transactions).”.(b) Conforming Amendments.—(1) Civil penalty.—Section 6719 (relating to failure to register) is amended—(A) by inserting “or reregister” after “register” each place it appears,(B) by inserting “or Reregister” after “Register” in the heading for subsection (a), and(C) by inserting “or reregister” after “register” in the heading thereof.(2) Criminal penalty.—Section 7232 (relating to failure to register under section 4101, false representations of registration status, etc.) is amended—(A) by inserting “or reregister” after “register”,(B) by inserting “or reregistration” after “registration”, and(C) by inserting “or reregister” after “register” in the heading thereof.(3) Additional civil penalty.—Section 7272 (relating to penalty for failure to register) is amended—(A) by inserting “or reregister” after “failure to register” in subsection (a), and(B) by inserting “or reregister” after “register” in the heading thereof.119 STAT. 1976(4) Clerical amendments.—The item relating to section 6719 in the table of sections for part I of subchapter B of chapter 68, the item relating to section 7232 in the table of sections for part II of subchapter A of chapter 75, and the item relating to section 7272 in the table of sections for subchapter B of chapter 75 are each amended by inserting “or reregister” after “register”.(c) Effective Date.—The amendments made by this section shall apply to actions, or failures to act, after the date of the enactment of this Act.