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FEDERAL

REGSTER
1934

VOLUME I

itolited

NUMBER 63

Washington, Wednesday, June 10, 1936
TREASURY DEPARTMENT.
Bureau of Customs.
T . D. 48364
C o u n t e r v a il in g D u t y B a c o n , C u r e d H a m s , a n d O t h e r C u r e d P i g s M e a t P r o m t h e I r i s h F ree S t a t e TREASURY DECISION 4 8 2 3 8 , DATED MARCH 26, 1936, AS AMENDED B Y
TREASURY DECISION 4 8 3 4 4 , APPROVED M A Y 20, 1936, REVOKED
AS TO SUCH MERCHANDISE EXPORTED FROM THE IR IS H PREE STATE
ON AND AFTER M A Y 11, 1936

To Collectors of Customs cmd Others Concerned:
Reference is made to Treasury Decision 48238, dated March 26, 1936,1 as amended by Treasury Decision 48344, approved May 20,1936,2requiring the collection of countervailing duties on bacon, cured hams, and other cured pigs meat from the Irish Free State pursuant to the provisions of Section 303
of the Tariff A ct of 1930.
Official information has been received to the effect that the payment of bounties by the Government of the Irish Free State on exports of bacon, cured hams, and other cured pigs meat from the Irish Free State to the United States was discontinued effective May 11, 1936.
Therefore, pursuant to the authority contained in Sec tion 303 of the Tariff Act of 1930, Treasury Decision 48238, as amended by Treasury Decision 48344, is hereby revoked effective as to shipments of such merchandise exported from the Irish Free State on or after May 11, 1936.
seal
F rank D o w ,
Acting Commissioner of Customs.
Approved, June 2, 1936.
W a y n e C. T ay lo r ,
Acting Secretary of the Treasury.
F. R. Doc. 862 Filed, June 9,1936; 12:35 p. m.

SECURITIES AND EXCHANGE COMMISSION.
H o l d in g
C om pany
A ct
R elease No. 232

Acting pursuant to the authority conferred upon it by the Public Utility Holding Company Act of 1935, particularly Sections 3 d , 9 c , and 20 a thereof, and finding that acquisitions by registered holding companies and subsidiary companies thereof, of the securities specified in the following Rules are appropriate, within the limitations stated, for investment of their current funds or in the ordinary course of business and not detrimental to the public interest or that of investors or consumers; and finding further that the following action is necessary and appropriate to carry out 11 F. R. 143.
21 F. R. 576.

the provisions of said Act and not contrary to the purposes, thereof, the Securities and Exchange Commission hereby repeals Rule 9C-1 as heretofore in effect, and adopts the following Rules, such repeal and such Rules to become effec tive June 8, 1936:
R u l e 9C-1. Prohibition of Unauthorized Acquisitions of Securities. a No registered holding company or subsidiary company thereof shall acquire any security, of which an other person is the issuer, unless l>-such acquisition has been approved by the Commis sion by order under Section 10, or is not subject to the requirement of such approval by virtue of Section 9 b ;
or 2 such acquisition is by a subsidiary company which, by rule or regulation under Section 3 d , is exempted from Section 9 a with respect to such acquisition; or 3 such acquisition is authorized by Rule 9C-3 or by any other rule that may be adopted under Section 9 c .
b A registered holding company or subsidiary company thereof may acquire a security of which the acquiring com pany is the issuer if, but only if, such acquisition is not in contravention of any rule, regulation, or order of the Com mission under Section 12 c .
R u l e 9C-2. Definitions of Terms used in Rules under Sec tion 9 c . As used in the rules under Section 9 c
1 a subsidiary company shall be deemed a majorityowned subsidiary of a specified company if securities of such subsidiary company representing in the aggregate more than 50 per cent of the voting power, other than as such voting power may be affected by events of default, are owned directly by such specified company and/or by one or more companies which are majority-owned subsidiaries, as herein defined, of such specified company; and a company shall be deemed a majority-owned subsidiary of such speci fied company regardless of the number of intervening major ity-owned subsidiaries in the chain of ownership; > 2 issuer means the issuer of the security acquired, and includes any person which has guaranteed, assumed, or agreed to pay any obligation of the issuer with respect to such security, and any person which owns property on which such security is a lien.
R ule 9C-3. Acquisitions of Securities. Section 9 a shall not apply to any acquisition of a security by a registered holding company or subsidiary compajiy thereof which is per mitted under the provisions of this Rule.
1 A registered holding company or subsidiary company thereof may acquire any bond or other evidence of indebt edness which is listed or -admitted to unlisted trading privir leges on any national securities exchange or actively traded in on any over-the-counter market and is generally considered appropriate fo r the investment of current funds: Provided, That the issuer is not the acquiring company, an associate company thereof, or a company which is an affiliate thereof, and that upon completion of the acquisition the acquiring 661