EFFECTIVE DATE.

SEC. 1274. [42 U.S.C. 16451 note] EFFECTIVE DATE. (a) In General.—Except for section 1272 (relating to implementation), this subtitle shall take effect 6 months after the date of enactment of this subtitle. (b) Compliance With Certain Rules.—If the Commission approves and makes effective any final rulemaking modifying the standards of conduct governing entities that own, operate, or control facilities for transmission of electricity in interstate commerce or transportation of natural gas in interstate commerce prior to the effective date of this subtitle, any action taken by a public-utility company or utility holding company to comply with the requirements of such rulemaking shall not subject such public-utility company or utility holding company to any regulatory requirement applicable to a holding company under the Public Utility Holding Company Act of 1935 (15 U.S.C. 79 et seq.).