Further investigation led me to the conclusion that "TO BE" should look like this:

6.1.2. The Module Search Path

When a module named spam is imported, the interpreter first searches in the containing package (the package of which the current module is a submodule) if applicable (a module is not required to be a submodule of a package). If not found or module is not a part of any package it searches for a built-in module with that name. If not found, it then searches for a file named spam.py in a list of directories given by the variable sys.path. sys.path is initialized from these locations: