(5) Any purchasing entity of which any person defined in subparagraphs (1) to (4) is an affiliated interest.; or

(6)__A competitive electricity provider created by an investor-owned transmission and distribution utility that owns less than 90% of its own stock.

E. "Voting securities" means any security or any proprietary or other interest presently entitling the owner or holder of the security to vote in the direction or management of the affairs of a company.

Sec. 2. 35-A MRSA §3206-A, sub-§2, as enacted by PL 1999, c. 398, Pt. G, §4, is amended to read:

2. Prohibition; divestiture. If, after the effective date of this section, 10% or more of the stock of an investor-owned transmission and distribution utility is purchased by an entity:

A. The Neither the purchasing entity and nor any related entity created before or after the purchase may not sell or offer for sale generation service to any retail consumer of electric energy in this State; and

B. If An affiliated competitive provider may continue to sell retail generation services to Maine consumers unless, in an adjudicatory proceeding, the commission determines that an the affiliated competitive provider obtains an unfair market advantage as a result of the purchase.__If the commission makes this determination, the commission shall order the investor-owned transmission and distribution utility to divest the affiliated competitive provider.

If the commission orders a divestiture pursuant to this subsection, the distribution utility must complete the divestiture within 12 months of the order to divest, unless the commission grants an extension. Upon application by the distribution utility, the commission may grant an extension for the purpose of permitting the utility to complete a divestiture that has been initiated in good faith but not finalized within the 12-month period. The commission shall oversee and approve a divestiture in accordance with rules adopted pursuant to subsection 4.

Sec. 3. 35-A MRSA §3206-A, last ¶, as enacted by PL 1999, c. 398, Pt. G, §4, is repealed.