An Act to modify and extend certain privatization requirements of the Communications Satellite Act of 1962

The Communications Satellite Act of 1962 was amended to modify and extend certain privatization requirements. Section 621(5) of the Act was modified by changing the deadline for an initial public offering and public securities listing from June 30, 2004, to June 30, 2005. A new subparagraph (F) was added, allowing a successor entity to be deemed a national corporation and forgo an initial public offering if it meets certain conditions, including certification to the Commission that there has been substantial dilution of financial interest in the entity.