Prior to its repeal, this act required utilities to restrict their businesses to either a single state or to a small, manageable geographic area to be subject to state regulations. It also requires them to obtain SEC approval to engage in business unrelated to the utility industry. PUHCA 1935 was repealed in 2005 under the Energy Policy Act of 2005 and replaced with the much narrower Public Utility Holding Company Act of 2005.