[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR230.161]

[Page 505]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 230--GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933--Table of Contents
 
Sec. 230.161  Amendments to rules and regulations governing exemptions.

    The rules and regulations governing the exemption of securities 
under section 3(b) of the Act, as in effect at the time the securities 
are first bona fide offered to the public in conformity therewith, shall 
continue to govern the exemption of such securities notwithstanding the 
subsequent amendment of such rules and regulations. This section shall 
not apply, however, to any new offering of such securities by an issuer 
or underwriter after the effective date of any such amendment, nor shall 
it apply to any offering after January 1, 1959, of securities by an 
issuer or underwriter pursuant to Regulation D or pursuant to Regulation 
A as in effect at any time prior to July 23, 1956.

[23 FR 4454, June 20, 1958]