[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: 17CFR210.3-16]

[Page 246]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 210--FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS,
 
Sec. 210.3-16  Financial statements of affiliates whose securities collateralize an issue registered or being registered.

    (a) For each of the registrant's affiliates whose securities 
constitute a substantial portion of the collateral for any class of 
securities registered or being registered, there shall be filed the 
financial statements that would be required if the affiliate were a 
registrant and required to file financial statements. However, financial 
statements need not be filed pursuant to this section for any person 
whose statements are otherwise separately included in the filing on an 
individual basis or on a basis consolidated with its subsidiaries.
    (b) For the purposes of this section, securities of a person shall 
be deemed to constitute a substantial portion of collateral if the 
aggregate principal amount, par value, or book value of the securities 
as carried by the registrant, or the market value of such securities, 
whichever is the greatest, equals 20 percent or more of the principal 
amount of the secured class of securities.

[65 FR 51710, Aug. 24, 2000]