Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 17 - Commodity and Securities Exchanges |
Chapter II - Securities and Exchange Commission |
Part 240 - General Rules and Regulations, Securities Exchange Act of 1934 |
Exemption of Certain Transactions from Section 16(B) |
§ 240.16b-1 - Transactions approved by a regulatory authority.
Latest version.
-
§ 240.16b-1 Transactions approved by a regulatory authority.
Any purchase and sale, or sale and purchase, of a security shall be exempt from section 16(b) of the Act, if the transaction is effected by an investment company registered under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) and both the purchase and sale of such security have been exempted from the provisions of section 17(a) (15 U.S.C. 80a-17(a)) of the Investment Company Act of 1940, by rule or order of the Commission.
[56 FR 7270, Feb. 21, 1991, as amended at 61 FR 30404, June 14, 1996; 76 FR 71877, Nov. 21, 2011]