General Rules and Regulations
promulgated
under the
Securities Act of 1933
Rule 150 -- Definition of "Commission or Other Remuneration" in Section 3(a)(9), for Certain Transactions
The term "commission or other remuneration" in Section
3(a)(9) shall not include payments made by the issuer, directly or indirectly,
to its security holders in connection with an exchange of securities for outstanding
securities, when such payments are part of the terms of the offer of exchange.
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