; (C) in paragraph (2), by striking shall and inserting may ; and (D) by striking paragraph (3); (4) in subsection (j)— (A) by striking either the Board, ; and (B) by striking , or both, ; and (5) by striking subsection (k). 507. Definitions Section 110 of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7220 ) is amended— (1) by redesignating paragraphs (5) and (6) as paragraphs (6) and (7); and (2) by inserting after paragraph (4) the following: (5) Office The term Office means the Office of Public Accounting Oversight of the Office of the Chief Accountant of the Commission. . 508. Technical and conforming amendments (a) Definitions Section 2(a)(9)(C) of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7201 ) is amended by striking , 101(c), 105, and 107(c) and the rules of the Board and Commission issued thereunder and inserting and 101(c) and the rules of the Commission thereunder . (b) Exemption authority Section 201(b) of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7231(b) ) is amended— (1) by striking The Board may and inserting The Commission may ; and (2) by striking in the same manner as for rules of the Board under section 107 . (c) Self-Regulatory organization Section 603(y)(3) of the Consumer Credit Protection Act ( 15 U.S.C. 1681a(y)(3) ) is amended by striking any entity established under title I of the Sarbanes-Oxley Act of 2002, . (d) Clerical amendment The table of contents in section 1(b) of the Sarbanes-Oxley Act of 2002 is amended— (1) in the item relating to section 102, by striking the Board and inserting the Office ; (2) in the item relating to section 103, by striking and independence standards and inserting standards, and