Page:United States Statutes at Large Volume 48 Part 1.djvu/910

 884 73d CONGRESS. SESS. II. CH. 404. JUNE 6, 1934. interest or participation in, temporary or interim certificate for receipt for, or warrant or right to subscribe to or purchase, any of the foregoing ; but shall not include currency or any note, draft, bill of exchange, or banker's acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited. "Equity security ." (11) The term " equity security " means any stock or similar secur- ity ; or any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security ; or any such warrant or right ; or any other security which the Commission shall deem to be of similar nature and consider necessary or appropriate, by such rules and regulations as it may prescribe in the public interest or for the protection of investors, to treat as an equity security. "Exempted secu- (12) The term "exempted security" or "exempted securities" rity" or 'exempted sec uriti es ." sh all in clude s ecuriti es whi ch are direct obliga tions o f or ob ligati ons guaranteed as to principal or interest by the United States securities issued or guaranteed by corporations in which the United States has a direct or indirect interest as shall be designated for exemption by the Secretary of the Treasury as necessary or appro- priate in the public interest or for the protection of investors ; securi- ties which are direct obligations of or obligations guaranteed as to principal or interest by a State or any political subdivision thereof or any agency or instrumentality of a State or any political subdivi- sion thereof or an y municipal co rporate instr umentality of one or m or e S t at es ; and such o ther securiti es (which may include, amon g others, unregistered securities, the market in which is predominantly intrastate) as the Commission may, by such rules and regulations as it deems necessary or appropriate in the public interest or for the protection of investors, either unconditionally or upon specified terms and conditions or for stated periods, exempt from the operation of any one or more provisions of this title which by their terms do not apply to an " exempted security " or to " exempted securities ." "Buy" and "pur- (13) The terms " buy " and " purchase " each include any contract chase ." to buy, purchase, or otherwise acquire. "Sale" and "sell ." (14) The terms " sale " and " sell " each include any contract to sell or otherwise dispose of. "commission ." (15) The term "Commission " means the Securities and Exchange Commission established by section 4 of this title. "state . " (16) The term " State " means any State of the United States, the Distr ict of Columb ia, Alaska, Ha waii, Puerto Rico, the Phi lippine Islands, the Canal Zone, the Virgin Islands, or any other possession of the United States. "interstate com- (17 ) The term " inters tate commer ce " means trade, comm erce, merce .' tr anspor tation , or c ommun icatio n amon g the sever al Sta tes, o r between any foreign country and any State, or between any State and any place or ship outside thereof . Authority conferred (b) The Commission and the Federal Reserve Board, as to matters to define accounting, technical, and trade within their respective jurisdictions, shall have power by rules and terms . regulat ions to defin e technical, t rade, and acc ounting terms used in this title insofar as such definitions are not inconsistent with the provisions of this title . Inapplicable to Fed- (c) No provision of this title shall apply to, or be deemed to eral agen cies, not spe- cifically provided for . include , any executi ve department or independen t establishmen t of the United States, or any lending agency which is wholly owned, directly or indirectly, by the United States, or any officer, agent, or employe e of any such department, e stablishment, or agency, ac ting in the course of his official duty as such, unless such provision makes sp ecif ic r efer ence to such dep artm ent, est abli shme nt, or a genc y.
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