[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR200.30-1]

[Page 22-26]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND REQUESTS--Table of Contents
 
             Subpart A--Organization and Program Management
 
Sec. 200.30-1  Delegation of authority to Director of Division of Corporation Finance.

    Pursuant to the provisions of Pub. L., No. 87-592, 76 Stat. 394 (15 
U.S.C. 78d-1, 78d-2), the Securities and Exchange Commission hereby 
delegates, until the Commission orders otherwise, the following 
functions to the Director of the Division of Corporation Finance, to be 
performed by him or under his direction by such person or persons as may 
be designated from time to time by the Chairman of the Commission:
    (a) With respect to registration of securities pursuant to the 
Securities Act of 1933 (15 U.S.C. 77a et seq.), and Regulation C 
thereunder (Sec. 230.400 et seq. of this chapter):
    (1) To determine the effective dates of amendments to registration 
statements filed pursuant to section 8(c) of the Act (15 U.S.C. 77h(c)).
    (2) To consent to the withdrawal of registration statements or 
amendments or exhibits thereto, pursuant to Rule 477 (Sec. 230.477 of 
this chapter), and to issue orders declaring registration statements 
abandoned, pursuant to Rule 479 (Sec. 230.479 of this chapter).
    (3) To grant applications for confidential treatment of contract 
provisions pursuant to Rule 406 (Sec. 230.406 of this chapter) under the 
Act; to issue

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orders scheduling hearings on such applications and to deny any such 
application as to which the applicant waives his right to a hearing, 
provided such applicant is advised of his right to have such denial 
reviewed by the Commission.
    (4) To accelerate the use or publication of any summary prospectus 
filed with the Commission pursuant to section 10(b) of the Act (15 
U.S.C. 77j(b)) and Rule 431(g) (Sec. 230.431(g) of this chapter) 
thereunder.
    (5) To take the following action pursuant to section 8(a) of the Act 
(15 U.S.C. 77h(a)):
    (i) To determine registration statements to be effective within 
shorter periods of time than 20 days after the filing thereof;
    (ii) To consent to the filing of amendments prior to the effective 
dates of registration statements as part thereof, or to determine that 
amendments filed prior to the effective dates of registration statements 
have been filed pursuant to orders of the Commission, so as to be 
treated as parts of the registration statements for the purpose of 
section 8(a) of the Act (15 U.S.C. 77h(a));
    (iii) To determine to be effective applications for qualification of 
trust indentures filed with registration statements.
    (6) Pursuant to instructions as to financial statements contained in 
forms adopted under the Act:
    (i) To permit the omission of one or more financial statements 
therein required or the filing in substitution therefor of appropriate 
statements of comparable character, or
    (ii) To require the filing of other financial statements in addition 
to, or in substitution for, the statements therein required.
    (7) Acting pursuant to section 4(3) of the Act (15 U.S.C. 77d(3)) or 
Rule 174 thereunder (Sec. 230.174 of this chapter), to reduce the 40-day 
period or the 90-day period with respect to transactions referred to in 
section 4(3)(b) of the Act (15 U.S.C. 77d(3)(B)).
    (8) To act on applications to dispense with any written consents of 
an expert pursuant to Rule 437 (Sec. 230.437 of this chapter).
    (b) With respect to the Securities Act of 1933 (15 U.S.C. 77a et 
seq.) and Regulation A thereunder (Sec. 230.251 et seq. of this 
chapter):
    (1) to authorize the granting of applications under Rule 262 
(Sec. 230.262 of this chapter) upon a showing of good cause that it is 
not necessary under the circumstances that an exemption under Regulation 
A be denied;
    (2) to authorize the issuance of orders qualifying offering 
statements pursuant to Rule 252(g) (Sec. 230.252(g) of this chapter); 
and
    (3) to issue orders declaring offering statements withdrawn or 
abandoned pursuant to Rule 259 (Sec. 230.259 of this chapter).
    (c) With respect to the Securities Act of 1933 (15 U.S.C. 77a et 
seq.) and Regulation D thereunder (Sec. 230.501 et seq. of this 
chapter), to authorize the granting of applications under Rule 
505(b)(2)(iii)(C), (Sec. 230.505(b)(2)(iii)(C) of this chapter) and 
under Rule 507(b) (Sec. 230.507(b) of this chapter) upon the showing of 
good cause that it is not necessary under the circumstances that the 
exemption under Regulation D be denied.
    (d) With respect to the Trust Indenture Act of 1939 (15 U.S.C. 77aaa 
et seq.):
    (1) To determine to be effective prior to the 20th day after filing 
thereof applications for qualification of indentures filed on Form T-3 
(Sec. 269.3 of this chapter) pursuant to section 307 of the Act (15 
U.S.C. 77ggg), and Rule 7a-1 thereunder (Sec. 260.7a-1 of this chapter);
    (2) To authorize the issuance of orders exempting certain securities 
from the Act under sections 304(c) and (d) thereof (15 U.S.C. 77ddd(c) 
and 77ddd(d)) and Sec. 260.4c-1 and Sec. 260.4d-7 of this chapter.
    (3) In cases in which opportunity for hearing is waived, to 
authorize the issuance of orders determining that a trusteeship under an 
indenture to be qualified and another indenture is not so likely to 
involve a material conflict of interest as to make it necessary to 
disqualify the trustee pursuant to section 310(b)(1)(ii) of the Act (15 
U.S.C. 77jjj(b)(1)(ii)) and Rule 10b-2 thereunder (Sec. 260.10b-2 of 
this chapter).
    (4) To authorize the issuance of orders exempting any person, 
registration statement, indenture, security or

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transaction, or any class or classes of persons, registration 
statements, indentures, securities, or transactions from the 
requirements of one or more provisions of the Act pursuant to section 
304(d) of the Act (15 U.S.C. 77ddd(d)) and rule 4d-7 thereunder (17 CFR 
260.4d-7 of this chapter).
    (5) To determine to be effective prior to the 10th day after filing 
thereof an application for determining the eligibility under section 
310(a) of the Act of a person designated as trustee for delayed 
offerings of debt securities under the Securities Act pursuant to 
section 305(b)(2) of the Act and rule 5b-1 [17 CFR 260.5b-1 of this 
chapter] thereunder.
    (6) To authorize the issuance of an order permitting a foreign 
person to act as sole trustee under qualified indentures under section 
310(a) of the Act (15 U.S.C. 77jjj(a)) and Sec. 260.10a-1 through 
Sec. 260.10a-5 of this chapter.
    (7) To issue notices with respect to applications for, and authorize 
the issuance of orders granting, a stay of a trustee's duty to resign 
pursuant to section 310(b) of the Act and Rule 10b-4 [17 CFR 260.10b-4 
of this chapter] thereunder.
    (e) With respect to the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.):
    (1) To determine to be effective applications for registration of 
securities on a national securities exchange prior to 30 days after 
receipt of a certification pursuant to section 12(d) of the Act (15 
U.S.C. 78l(d));
    (2) Pursuant to instructions as to financial statements contained in 
forms adopted under the Act:
    (i) To extend the time for filing or to permit the ommission of one 
or more financial statements therein required or the filing in 
substitution therefor of appropriate statements of comparable character.
    (ii) To require the filing of other financial statements in addition 
to, or in substitution for, the statements therein required;
    (3)(i) To grant and deny applications for confidential treatment 
filed pursuant to section 24(b) of the Act (15 U.S.C. 78x(b)) and Rule 
24b-2 thereunder (Sec. 240.24b-2 of this chapter);
    (ii) To revoke a grant of any such application for confidential 
treatment.
    (4) To authorize the use of forms of proxies, proxy statements, or 
other soliciting material within periods of time less than that 
prescribed in Secs. 240.14a-6, 240.14a-8(d), and 240.14a-11 of this 
chapter; to authorize the filing of information statements within 
periods of time less than that prescribed in Sec. 240.14c-5a of this 
chapter; and to authorize the filing of information under Sec. 240.14f-1 
of this chapter within periods of time less than that prescribed 
therein.
    (5) To grant or deny applications filed pursuant to section 12(g)(1) 
of the Act (15 U.S.C. 78l(g)(1)) for extensions of time within which to 
file registration statements pursuant to that section, provided the 
applicant is advised of his right to have any such denial reviewed by 
the Commission.
    (6) To accelerate at the request of the issuer the effective date of 
registration statements filed pursuant to section 12(g) of the Act (15 
U.S.C. 78l(g)).
    (7) To issue notices of applications for exemptions and to grant 
exemptions under section 12(h) of the Act (15 U.S.C. 78l(h)).
    (8) At the request of the issuer to accelerate the termination of 
registration of any class of equity securities as provided in section 
12(g)(4) of the Act (15 U.S.C. 78l(g)(4)) or as provided in 
Sec. 240.12g-4(a) of this chapter.
    (9) Upon receipt of a notification from the Secretary of the 
Treasury designating a security for exemption pursuant to section 
3(a)(12), to issue public releases announcing such designation.
    (10) To issue public releases listing those foreign issuers which 
appear to be current in submitting the information specified in Rule 
12g3-2(b) (Sec. 240.12g3-2(b)).
    (11) To grant exemptions from Rule 14d-10 (Sec. 240.14d-10 of this 
chapter) pursuant to Rule 14d-10(e) (Sec. 240.14d-10(e) of this chapter.
    (12) To grant an exemption from Sec. 240.14b-2(b) or Sec. 240.14b-
2(c), or both, of this chapter.
    (13) To determine with respect to a tender or exchange offer 
otherwise eligible to be made pursuant to rule 14d-1(b) (Sec. 240.14d-
1(b) of this chapter) whether, in light of any exemptive

[[Page 25]]

order granted by a Canadian federal, provincial or territorial 
regulatory authority, application of certain or all of the provisions of 
sections 14(d)(1) through 14(d)(7) of the Exchange Act, Regulation 14D 
and Schedules 14D-1 and 14D-9 thereunder, and rule 14e-1 of Regulation 
14E, to such offer is necessary or appropriate in the public interest.
    (14) To administer the provisions of Sec. 240.24c-1 of this chapter; 
provided that access to nonpublic information as defined in such section 
shall be provided only with the concurrence of the head of the 
Commission division or office responsible for such information or the 
files containing such information.
    (15) To administer the provisions of Section 24(d) of the Act (15 
U.S.C. 78x(d)).
    (16) To grant requests for exemptions from:
    (i) Tender offer provisions of sections 13(e) and 14(d)(1) through 
14(d)(7) of the Act (15 U.S.C. 78m(e) and 78n(d)(1) through 78n(d)(7)), 
Rule 13e-3 (Sec. 240.13e-3 of this chapter) and Rule 13e-4 
(Sec. 240.13e-4 of this chapter), Regulation 14D (Secs. 240.14d-1 
through 240.14d-11 of this chapter) and Schedules 13E-3, TO, and 14D-9 
(Secs. 240.13e-100, 240.14d-100 and 240.14d-101 of this chapter) 
thereunder, pursuant to Sections 14(d)(5), 14(d)(8)(C) and 36(a) of the 
Act (15 U.S.C. 78n(d)(5), 78(d)(8)(C), and 78mm(a)); and
    (ii) The tender offer provisions of Rules 14e-1, 14e-2 and 14e-5 of 
Regulation 14E (Secs. 240.14e-1, 240.14e-2 and 240.14e-5 of this 
chapter) pursuant to section 36(a) of the Act (15 U.S.C. 78mm(a)).
    (f) Notwithstanding anything in the foregoing:
    (1) Matters arising under the Investment Company Act of 1940 (15 
U.S.C. 80a-1 et seq.), the Securities Act of 1933 (15 U.S.C. 77a et 
seq.), the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) and 
the Trust Indenture Act of 1939 (15 U.S.C. 77aaa et seq.) pertaining to 
investment companies registered under the Investment Company Act of 1940 
are not within the scope of the functions delegated to the Director of 
the Division of Corporation Finance, except those arising under section 
30(f) of the Investment Company Act of 1940 (15 U.S.C. 80a-29(f));
    (2) In any case in which the Director of the Division of Corporation 
Finance believes it appropriate, he may submit the matter to the 
Commission.
    (g) With respect to the Securities Act of 1933 (15 U.S.C. 77a et 
seq.) and Rule 701 thereunder (Sec. 230.701 of this chapter), to 
authorize the granting of applications under Rule 703(b) 
(Sec. 230.703(b) of this chapter) upon a showing of good cause that it 
is not necessary under the circumstances that an exemption under Rule 
701 be denied.
    (h) With respect to the Securities Act of 1933 (15 U.S.C. 77a et 
seq.) and Rule 144A thereunder (Sec. 230.144A of this chapter), taking 
into account then-existing market practices, to designate any securities 
or classes of securities to be securities that will not be deemed ``of 
the same class as securities listed on a national securities exchange or 
quoted in a U.S. automated inter-dealer quotation system'' within the 
meaning of Rule 144A(d)(3)(i) (Sec. 230.144A(d)(3)(i) of this chapter).
    (i) With respect to the Securities Act of 1933 (15 U.S.C. 77a et 
seq.) and Regulation S thereunder (Sec. 230.901 et seq. of this 
chapter), and in consultation with the Director of the Division of 
Market Regulation, to designate any foreign securities exchange or non-
exchange market as a ``designated offshore securities market'' within 
the meaning of Rule 902(a) (Sec. 230.902(a) of this chapter).
    (j) With respect to the Securities Act of 1933 (15 U.S.C. 77a et 
seq.), the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), the 
Trust Indenture Act of 1939 (15 U.S.C. 77aaa et seq.), and Regulation S-
T thereunder (part 232 of this chapter), to grant or deny a request 
submitted pursuant to Rule 13(b) of Regulation S-T (Sec. 232.13(b) of 
this chapter) to adjust the filing date of an electronic filing.
    (k) With respect to the Securities Act of 1933 (15 U.S.C. 77a et 
seq.), the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), the 
Trust Indenture Act of 1939 (15 U.S.C. 77aaa et seq.), and Regulation S-
T thereunder (part 232 of this chapter), to set the terms of, and grant 
or deny as appropriate, continuing hardship exemptions, pursuant to Rule 
202 of Regulation S-T, (Sec. 232.202 of this

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chapter), from the electronic submission requirements of Regulation S-T 
(part 232 of this chapter).

[41 FR 29375, July 16, 1976]

    Editorial Note: For Federal Register citations affecting 
Sec. 200.30-1 see the List of CFR Sections Affected, which appears in 
the Finding Aids section of the printed volume and on GPO Access.