§ 260.10b-2Applications under section 310(b)(1)(ii).
If an application filed with the Commission pursuant to clause (ii) of section 310(b)(1) (53 Stat. 1157; 15 U.S.C. 77jjj) of the Act is based upon the claim that no material conflict of interest will be involved because prior to or concurrently with the delivery of the securities to be issued under the indenture to be qualified all securities outstanding under the other indenture or indentures, under which the person designated to act as indenture trustee is also a trustee, will be discharged or:
(a) Funds sufficient to discharge the securities will be deposited in trust for that purpose.
(b) The securities, if not presently maturing, will be called for redemption or irrevocable power to make the call will be given to some third person.
(c) All liens securing the securities will be released or all steps necessary to effect the release at the maturity or redemption date will be taken.
The application shall be deemed to have been granted unless, within 7 days after it is filed, the Commission orders a hearing thereon.
[6 FR 808, Feb. 7, 1941]
Title 17 published on 2013-04-01
The following are only the Rules published in the Federal Register after the published date of Title 17.
For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.