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Code · U.S. Code · Title 15 - COMMERCE AND TRADE · CHAPTER 2A— SECURITIES AND TRUST INDENTURES · SUBCHAPTER III— TRUST INDENTURES · § 77sss

§ 77sss. Rules, regulations, and orders

517 words·~2 min read·/usc/title-15/section-77sss

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(a)Authority of Commission; subject matter of rules, etc. The Commission shall have authority from time to time to make, issue, amend, and rescind such rules and regulations and such orders as it may deem necessary or appropriate in the public interest or for the protection of investors to carry out the provisions of this subchapter, including rules and regulations defining accounting, technical, and trade terms used in this subchapter. Among other things, the Commission shall have authority,
(1)by rules and regulations, to prescribe for the purposes of section 77jjj(b) of this title the method (to be fixed in indentures to be qualified under this subchapter) of calculating percentages of voting securities and other securities;
(2)by rules and regulations, to prescribe the definitions of the terms “cash transaction” and “self-liquidating paper” which shall be included in indentures to be qualified under this subchapter, which definitions shall include such of the creditor relationships referred to in paragraphs
(4)and
(6)of subsection
(b)of section 77kkk of this title as to which the Commission determines that the application of subsection
(a)of section 77kkk of this title is not necessary in the public interest or for the protection of investors, having due regard for the purposes of such subsection; and
(3)for the purposes of this subchapter, to prescribe the form or forms in which information required in any statement, application, report, or other document filed with the Commission shall be set forth. For the purpose of its rules or regulations the Commission may classify persons, securities, indentures, and other matters within its jurisdiction and prescribe different requirements for different classes of persons, securities, indentures, or matters.
(b)Rules and regulations effective upon publication Subject to the provisions of chapter 15 of title 44 and regulations prescribed under the authority thereof, the rules and regulations of the Commission under this subchapter shall be effective upon publication in the manner which the Commission shall prescribe, or upon such later date as may be provided in such rules and regulations.
(c)Exemption from liability for any acts taken in good faith in conformity with rules, etc. No provision of this subchapter imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule, regulation, or order of the Commission, notwithstanding that such rule, regulation, or order may, after such act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
(May 27, 1933, ch. 38, title III, § 319, as added Aug. 3, 1939, ch. 411, 53 Stat. 1173; Pub. L. 105–353, title III, § 301(e)(4), Nov. 3, 1998, 112 Stat. 3237.)
Connections184 cite this · traces to 3
Cited by 184 sections · top 60
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7 references not yet in our index
  • May 27, 1933, ch. 38
  • Aug. 3, 1939, ch. 411
  • 53 Stat. 1173
  • Pub. L. 105–353, title III, § 301(e)(4)
  • 112 Stat. 3237
  • Pub. L. 105–353
  • 64 Stat. 1265
Citation graph
cites case law
§ 77sss
Rules, regulations, and orders
Fed. Reg.×182
C.F.R.×1
Stat.×1
ActMay 27, 1933, ch. 38
ActAug. 3, 1939, ch. 411
Stat.53 Stat. 1173
Pub. L.Pub. L. 105–353, title III, § 301(e)(4)
Stat.112 Stat. 3237
Cites 10 · showing 8Cited by 184 across 3 sources
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