[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: 17CFR230.149]

[Page 484]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
 PART 229--STANDARD INSTRUCTIONS FOR FILING FORMS UNDER SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934 AND ENERGY POLICY AND CONSERVATION ACT OF 1975--REGULATION S-K--Table of Contents
 
       Subpart 229.1000--Mergers and Acquisitions (Regulation M-A)
 
Sec. 230.149  Definition of ``exchanged'' in section 3(a)(9), for certain transactions.

    The term exchanged in section 3(a)(9) (sec. 202(c), 48 Stat. 906; 15 
U.S.C. 77c(9)) shall be deemed to include the issuance of a security in 
consideration of the surrender, by the existing security holders of the 
issuer, of outstanding securities of the issuer, notwithstanding the 
fact that the surrender of the outstanding securities may be required by 
the terms of the plans of exchange to be accompanied by such payment in 
cash by the security holder as may be necessary to effect an equitable 
adjustment, in respect of dividends or interest paid or payable on the 
securities involved in the exchange, as between such security holder and 
other security holders of the same class accepting the offer of 
exchange.

[2 FR 1382, July 7, 1937]

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