-1. References to Rules and Regulations id to the Act, or to Portions Thereof.

As used in the rules and regulations pre1 by the Commission pursuant to Title I of curities Exchange Act of 1934, unless the t otherwise specifically requires— The term "Commission" means the Securiid Exchange Commission.

The term "Act" means Title I of the Securixchange Act of 1934.

The term "section" refers to a section of the ties Exchange Act of 1934.

The term "rules and regulations" refers to es and regulations adopted by the Commisursuant to the Act, including the forms for ration and reports and the accompanying ctions thereto.

Unless otherwise specifically stated, the used in the rules and regulations shall have eaning defined in the Act.

A rule or regulation which defines a term at express reference to the Act or to the rules egulations, or to a portion thereof, defines erm for all purposes as used both in the Act the rules and regulations, unless the context vise specifically requires.

Unless otherwise specified or the context vise requires, the term "prospectus" means pectus meeting the requirements of Section of the Securities Act of 1933 as amended. 0-2. Business Hours of the Commission. › principal office of the Commission at Wash1, D. C., is open each day except Saturdays olidays from 9:00 a. m. to 5:30 p.m. Easttandard Time or Eastern Daylight Saving whichever is currently in effect in Wash

1.

Rule 0-3. Filing of Material With the Commission.

All papers required to be filed with the Commission pursuant to the Act or the rules and regulations thereunder shall be filed at its principal office in Washington, D. C. Material may be filed by delivery to the Commission, through the mails or otherwise. The date on which papers are actually received by the Commission shall be the date of filing thereof if all of the requirements with respect to the filing have been complied with. Rule 0-4. Nondisclosure of Information Obtained in the Course of Examinations and Investigations.

Information or documents obtained by officers or employees of the Commission in the course of any examination or investigation pursuant to section 17 (a) or 21 (a) shåll, unless made a matter of public record, be deemed confidential. Officers and employees are hereby prohibited from making such confidential information or documents or any other non-public records of the Commission available to anyone other than a member, officer, or employee of the Commission, unless the Commission authorizes the disclosure of such information or the production of such documents as not being contrary to the public interest. Any officer or employee who is served with a subpoena requiring the disclosure of such information or the production of such documents shall appear in court and, unless the authorization described in the preceding sentence shall have been given, shall respectfully decline to disclose the information or produce the documents called for, basing his refusal upon this rule. Any officer or employee who is served with such a subpoena shall promptly advise the Commission of the service of such subpoena, the nature of the information or document sought, and any circumstances which may bear upon the

desirability of making available such information or documents.

Rule 0-5. Reference to Rule by Obsolete Designation.

Wherever in any rule, form, or instruction book specific reference is made to a rule by number or other designation which is now obsolete, such reference shall be deemed to be made to the corresponding rule or rules in these General Rules and Regulations.

Rule 0-6. Disclosure Detrimental to the National Security.

(a) Any requirement to the contrary notwithstanding, no application for registration, report, proxy statement or other document filed with the Commission or any securities exchange shall contain any document or information that has been classified or determined by an appropriate department or agency of the United States to require protection in the interests of national defense.

(b) Where a document is omitted pursuant to paragraph (a) hereof, there shall be filed, in lieu of such document, a statement from an appropriate department or agency of the United States to the effect that such document has been classified or that the status of such document is awaiting determination. Where a document is omitted pursuant to paragraph (a) hereof, but information relating to the subject-matter of such document is nevertheless included in material filed with the Commission pursuant to a determination of an appropriate department or agency of the United States that disclosure of such information would not be contrary to the interests of national defense, a statement to that effect shall be submitted for the information of the Commission.

(c) The Commission may protect any information in its possession which may require classification in the interests of national defense pending determination by an appropriate department or agency as to whether such information should be classified.

Rule 0-7. Consent to Service of Process To Be Furnished by Non-resident Investment Advisers and by Non-resident Investment General Partners or Managing Agents of Investment Advisers.

(a) Each non-resident investment adviser registered or applying for registration pursuant to

Section 203 of the Investment Advisers 1940, each non-resident general partner of vestment adviser partnership which is or applying for registration, and each r dent managing agent of any other unincor investment adviser which is registered a ing for registration, shall furnish to the C sion, in a form prescribed by or acceptable: written irrevocable consent and power of which (1) designates the Securities and E Commission as an agent upon whom may be any process, pleadings, or other papers civil suit or action brought in any app court in any place subject to the jurisdiction United States, where the cause of action crues on or after the effective date of (ii) arises out of any activity, in any place to the jurisdiction of the United States, c in connection with the conduct of business investment adviser, and (iii) is founded. or indirectly, upon the provisions of the Sa Act of 1933, the Securities Exchange Act of ́ the Trust Indenture Act of 1939, the Inve Company Act of 1940, the Investment Are Act of 1940, or any rule or regulation unir of said Acts; and (2) stipulates and agre any such civil suit or action may be comme the service of process upon the Commis the forwarding of a copy thereof as prov paragraph (c) of this rule, and that the s aforesaid of any such process, pleadings, papers upon the Commission shall be take held in all courts to be as valid and binding an due personal service thereof had been made

(b) The required consent and power of shall be furnished to the Commission with? following period of time:

(1) Each non-resident investment advis tered at the time this rule becomes effectie each non-resident general partner or m agent of an unincorporated investment registered at the time this rule becomes e shall furnish such consent and power of within 60 days after such date;

(2) Each investment adviser applyin registration after the effective date of th shall furnish, at the time of filing such tion, all the consents and powers of attor quired to be furnished by such investments and by each general partner or managing thereof; Provided, however, That where s

ion for registration of an investment adviser ding at the time this rule becomes effective onsents and powers of attorney shall be fur1 within 30 days after this rule becomes

ve.

Each investment adviser registered or ap

for registration who or which becomes a esident investment adviser after the effective of this rule, and each general partner or ging agent, of an unincorporated investment r registered or applying for registration, ecomes a non-resident after the effective date 3 rule, shall furnish such consent and power orney within 30 days thereafter.

Service of any process, pleadings or other s on the Commission under this rule shall ide by delivering the requisite number of thereof to the Secretary of the Commission such other person as the Commission may rize to act in its behalf. Whenever any 3s, pleadings or other papers as aforesaid are I upon the Commission, it shall promptly fora copy thereof by registered mail to the apiate defendants at their last address of recled with the Commission. The Commission be furnished a sufficient number of copies ich purpose, and one copy for its file.

MISCELLANEOUS

3a12-2. Exemption of Certain Securities, he Income on Which Is Substantially uaranteed by States or Political Subdiviions Thereof.

A security shall be exempt from the operaf such provisions of the Act as by their terms t apply to an "exempted security" or to "exed securities" if—

A State or political subdivision thereof is ited to make good to the issuer of such secuny deficiency in the income of such issuer, extent necessary to pay to the holders of security interest or dividends at a specified and

The business of such issuer is managed by

(d) For purposes of this rule the following definitions shall apply:

(1) The term "investment adviser" shall have the meaning set out in Section 202 (a) (11) of the Investment Advisers Act of 1940.

(2) The term "managing agent" shall mean any person, including a trustee, who directs or manages or who participates in the directing or managing of the affairs of any unincorporated organization or association which is not a partnership.

(3) The term "non-resident investment adviser" shall mean (A) in the case of an individual, one who resides in or has his principal place of business in any place not subject to the jurisdiction of the United States; (B) in the case of a corporation, one incorporated in or having its principal place of business in any place not subject to the jurisdiction of the United States; (C) in the case of a partnership or other unincorporated organization or association, one having its principal place of business in any place not subject to the jurisdiction of the United States.

(4) A general partner or managing agent of an investment adviser shall be deemed to be a nonresident if he resides in any place not subject to the jurisdiction of the United States.

EXEMPTIONS1

such State or political subdivision or by a board of officers appointed by such State or political subdivision.

(b) The exemption provided by this rule shall be available to such security only so long as the conditions specified in paragraph (a) are satisfied or during the subsequent dissolution of the issuer of any security so exempted.

Rule 3a12-3. Exemption From Sections 14 (a)

and 16 of Securities for Which Filing of Applications on Form 18, 19, 20, or 21 Is Authorized.

Securities for which the filing of applications on form 18, 19, 20, or 21 is authorized shall be exempt from the operation of sections 14 (a) and 16.