[Federal Register Volume 64, Number 218 (Friday, November 12, 1999)]
[Rules and Regulations]
[Pages 61497-61498]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-29530]
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 230
[Release No. 33-7645A]
RIN 3235-AH21
Rule 701--Exempt Offerings Pursuant to Compensatory Arrangements;
Correction
AGENCY: Securities and Exchange Commission.
ACTION: Correcting amendment.
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SUMMARY: This document contains a correction to final rules adopted in
Release No. 33-7645 (February 25, 1999), which were published in the
Federal Register on Monday, March 8, 1999 (64 FR 11095). The rules
relate to the manner of calculating the amount of the exempt offerings
pursuant to Rule 701.
EFFECTIVE DATE: November 5, 1999.
FOR FURTHER INFORMATION CONTACT:
Richard K. Wulff, Office of Small Business, Division of Corporation
Finance at (202) 942-2950.
SUPPLEMENTARY INFORMATION: In connection with the adoption of rules
relating to the Rule 701 exemption for compensatory benefit plans, on
February 25, 1999 the Commission adopted provisions to determine the
available amount of securities subject to the exemption. Because of
inaccuracy in the language within the adopting release, a different way
of making such calculations appears in the Code of Federal Regulations
than that approved by the Commission. The correction removes a
typographical error and also deletes the reference to the necessity of
only making calculations based upon an annual balance sheet. The
original intention was to permit calculations to be made on the basis
of interim balance sheets as long as they were no older than the
issuer's most recent fiscal year end.
List of Subjects in 17 CFR Part 230
Reporting and recordkeeping requirements, Securities.
PART 230--GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933
Accordingly, 17 CFR part 230 is corrected by making the following
correcting amendments:
1. The authority citation for part 230 continues to read in part as
follows:
Authority: 15 U.S.C. 77b, 77f, 77g, 77h, 77j, 77r, 77s, 77sss,
78c, 78d, 78l, 78m, 78n, 78o, 78w, 78ll(d), 79t, 80a-8, 80a-24, 80a-
28,
[[Page 61498]]
80a-29, 80a-30, and 80a-37, unless otherwise noted.
* * * * *
Sec. 230.701 [Amended]
2. In Sec. 230.701, revise the phrase `` are or derive'' to read
``or derive'' in the last sentence of the introductory text of
paragraph (c).
3. In Sec. 230.701, revise the phrase ``most recent annual balance
sheet date'' to read ``most recent balance sheet date'' in paragraphs
(d)(2)(ii) and (d)(2)(iii).
Dated: November 5, 1999.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-29530 Filed 11-10-99; 8:45 am]
BILLING CODE 8010-01-M
