Federal Register - March 3, 1950
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Source: Federal Register
VOLUME IS
NUMBER 42
Washington, Friday, March 3, 1950
TITLE 17 C O M M O D ITY A N D
SECURITIES EX C H A N G ES
Chapter II Securities and Exchange Commission P art 230G eneral R ules and R egula tions , S ecurities A ct of 1933
SECURITIES EXCLUDED FROM EXEM PTION
The Securities and Exchange Commis sion acting pursuant to the Securities Act of 1933, particularly sections 3 b and 19 a thereof, and deeming such action necessary and appropriate in the public interest and for the protection of investors and necessary to carry out the provisions of the act, hereby amends paragraph g of 230.221 Rule 221
by adding at the end of such paragraph a subparagraph 3 so that paragraph g reads as follows:
230.221 Securities excluded from ex emption. No exemption under 230.220
to 230.224 shall be available for:
g Any securities of an issuer if the issuer, any promoter of the issuer pres ently connected with the issuer in any capacity, or any person controlling, con trolled by, or under common control with the issuer 1 has been convicted within 5 years preceding the filing of the letter of notification of any felony or misde meanor involving the sale of any security or 2 is subject to an order, judgment, or decree of any court of competent jurisdiction, entered within three years preceding the date of filing the letter of notification, enjoining it or him from en gaging in or continuing any conduct or practice in connection with the sale of any security, or 3 is a party to a proceeding for such order, judgment or decree initiated by or on behalf of the Commission, and any exemption for any unsold portion of such securities covered by a letter of notification previously filed under 230.222 Rule 222 shall, during the pendencjrof such proceeding, be sus pended, and upon the entry of such order, judgment or decree, shall be ter minated.
The Commission believes there is a necessity for summary action making the amendment effective immediately as to persons I with actual notice of the rule in
order to take care of a situation where an application for an injunction is pend ing and where the Commission has rea son to believe that the respondents may attempt to file a letter of notification under Regulation A 230.220 to 230.224 prior to the time in which the court can act upon the Commissions motion for a temporary injunction.
Accordingly, the Commission finds that notice and public procedure pursuant to sections 4 a and b of the Adminis trative Procedure Act are impracticable and unnecessary; and that, pursuant to section 4 c of that act, the amendment to the rule may be declared effective im mediately with respect to persons having actual notice thereof, and absent such notice shall become effective 30 days after the date of approval of this amend ment by the Commission.
Sec. 19, 48 Stat. 85, as amended; 15 U. S. C.
77s
By the Commission.
seal
O rval L. D u B ois ,
Secretary.
F ebruary 23, 1950.
P. R. Doc. 50-1716; Filed, Mar. 2, 1950;
9:06 a. m.
TITLE 19 CUSTOM S DUTIES
Chapter I Bureau of Customs, Department of the Treasury T. D. 52418
P art 10A rticles C onditionally F ree, S ubject to a R educed R ate, E tc.
CUSTOMS EXEM PTIONS ACCORDED TO PUBLIC
INTERNATIONAL ORGANIZATIONS AND CER
TAIN ALIENS
Section 10.30a, Customs Regulations of 1943 19 CFR 10.30a, as amended by T. D. 51657 12 F. R. 2383, T. D. 51713
12 F. R. 4450, T. D. 51776 12 F. R.
6949, T. D. 51826 13 F. R. 264, T. D.
52007 13 F. R. 4920, and T. D. 52363 14
F. R. 7501, is hereby further amended as follows:
Paragraph a is amended by deleting the word and before the Caribbean Commission, by changing the period thereafter to a comma, and by adding Continued on next page
CO N TEN TS
Alien Property, Office of Pase Notices:
Vesting orders, etc.:
Costs and expenses incurred in certain Ohio courts___ 1187
Eckoldt, Arthur____________ 1186
Von Ribbeck, Irene Renate Alice, and Carl William Holm Hans Henning von B ose-------------------- --------- 1188
Civil Aeronautics Board Proposed rule making:
Airworthiness certification, re stricted purpose___________ 1177
Customs Bureau Rules and regulations:
Articles conditionally free, sub ject to reduced rate, etc.;
customs exemptions accorded to public international or ganizations and c e r t a i n aliens_____ _______________ 1175
Federal Communications Com mission Notices :
Southern Radio and Equipment Co. WOBS; hearing_____ 1179
Federal Power Commission Notices:
Hearings, etc.:
Baldwin, Baldwin M., et al_1180
Bowles, Adelbert E., and Clar ence G. Bowles__________ 1181
Concord Electric Co______ __1180
Jersey Central Power & Light Co______________________ 1180
Jones, Chandler W________ 1180
Newport Fisheries, Inc_____ 1181
Panhandle Eastern Pipe Line Co___________
1180
Sisac, R. R ____________ ;__ 1180
Wisconsin Michigan Power Co_ 1180
Federal Trade Commission Notices :
Hearings, etc.:
Dolcin Corp. et al________ _ 1181
General Foods Corp_______ 1181
Housing Expediter, Office of Rules and regulations:
Rent, controlled; housing and rooms in rooming houses and other establishments in Mich igan --------------------------------- 1177
1175