Sec. 496. Application of exemption
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Section 18(b)(1) of the Securities Act of 1933 ( 15 U.S.C. 77r(b)(1) ), as amended by section 456(b), is further amended— by striking subparagraph (A); in subparagraph (B), by striking that the Commission determines by rule (on its own initiative or on the basis of a petition) are substantially similar to the listing standards applicable to securities described in subparagraph
(A)and inserting that have been approved by the Commission ; in subparagraph (C), by striking or
(B); and by redesignating subparagraphs (B), (C), and
(D)as subparagraphs (A), (B), and (C), respectively.
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Sec. 496
Application of exemption
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