Index: Python/ceval.c
===================================================================
--- Python/ceval.c	(revision 61449)
+++ Python/ceval.c	(working copy)
@@ -3136,6 +3136,7 @@
 	}
 
 	if (PyExceptionClass_Check(type))
+		/* Normalize to raise <class>, <instance> */
 		PyErr_NormalizeException(&type, &value, &tb);
 
 	else if (PyExceptionInstance_Check(type)) {
@@ -3145,13 +3146,10 @@
 			  "instance exception may not have a separate value");
 			goto raise_error;
 		}
-		else {
-			/* Normalize to raise <class>, <instance> */
-			Py_DECREF(value);
-			value = type;
-			type = PyExceptionInstance_Class(type);
-			Py_INCREF(type);
-		}
+		Py_DECREF(value);
+		value = type;
+		type = PyExceptionInstance_Class(type);
+		Py_INCREF(type);
 	}
 	else {
 		/* Not something you can raise.  You get an exception