§ 230.150 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) of the shall not include payments made by the , directly or indirectly, to its 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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2 FR 1076, May 26, 1937]