Securities Lawyer's Deskbook
                         published by The University of Cincinnati College of Law
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General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934





Rule 13d-6 -- Exemption of Certain Acquisitions


The acquisition of securities of an issuer by a person who, prior to such acquisition, was a beneficial owner of more than five percent of the outstanding securities of the same class as those acquired shall be exempt fromsection 13(d) of the Act, provided, that:
  1. The acquisition is made pursuant to preemptive subscription rights in an offering made to all holders of securities of the class to which the preemptive subscription rights pertain;

  2. Such person does not acquire additional securities except through the exercise of his pro rata share of the preemptive subscription rights; and

  3. The acquisition is duly reported, if required, pursuant tosection 16(a) of the Act and the rules and regulations thereunder.


Regulatory History


43 FR 18495, Apr. 28, 1978



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