; and (III) the resulting ultimate holding company is subject to consolidated supervision by the Board or a holding company regulated by the Securities and Exchange Commission pursuant to section 240.15c3–1(a)(7) of title 17, Code of Federal Regulations, as in effect on October 1, 2019. (B) Corporate reorganizations permitted The acquisition of direct or indirect control of an industrial bank referred to in subparagraph (A)(ii) shall not be treated as a change in control for purposes of that subparagraph if— (i) the company acquiring control is itself directly or indirectly controlled by a company that was an affiliate of the industrial bank on the date referred to in that subparagraph, and remains an affiliate at all times after that date; and (ii) the transaction through which the company acquired control of the industrial bank constituted solely a corporate reorganization of a company that controlled the industrial bank on the date referred to in that subparagraph. (4) Pre-2019 exclusions for commercial firms (A) Grandfathered commercial firms Paragraph (1) shall not apply to any commercial firm— (i) that became a covered industrial bank holding company by virtue of acquiring control of an industrial bank before October 1, 2019; (ii) that did not acquire control of any other depository institution after October 1, 2019; (iii) with respect to which there is no change in control, directly or indirectly, of any depository institution subsidiary after October 1, 2019, that requires a registration under this section or an application under section 7(j) or 18(c) of the Federal Deposit Insurance Act (12 U.S.C. 1817(j), 1828(c)), section 3 of this Act, or section 10 of the Home Owners’ Loan Act (12 U.S.C. 1467a)