A bill to provide for the transfer to the Federal Power Commission of all functions and administrative authority now vested in the Securities and Exchange Commission under the Public Utility Holding Company Act of 1935.

Provides that all functions and administrative authority vested in the Securities and Exchange Commission under the provisions of the Public Utility Holding Company Act of 1935, and under the provisions of Reorganization Plan Number 10 of 1950 and Public Law 87-592, are transferred to the Federal Power Commission. Revises other provisions of law to conform with this Act.

Authorizes the Securities and Exchange Commission to retain jurisdiction over any proceeding that may be pending at the effective date of this Act as it deems necessary or appropriate in the public interest and the orderly transition of functions under this Act.

Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act.