Page:United States Statutes at Large Volume 49 Part 1.djvu/863

 818 74TH CONGRESS. SESS. I. CH. 687. AUGUST 26, 1935. (c) Subsection (a) shall not apply to the acquisition by a registered ho ldin company, or a subsidiary company thereof, of- (1 secur ities o f, or securi ties t he pri ncipal or int erest of whi ch is guaranteed by, the United States, a State, or political subdivision of a State, or any agency, authority, or instrumentality of any one or more of the foregoing, or any corporation which is wholly owned, directly or indirectly, by any one or more of the fore- going ; (2) such other readily marketable securities, within the limita- tion of such amounts, as the Commission may by rules and regu- lations prescribe as appropriate for investment of current funds and as not detrimen tal to the publ ic interest or the interest o f investors or consumers ; or (3) such commercial paper and other securities, within such limitations, as the Commission may by rules and regulations or order prescribe as appropriate in the ordinary course of business of a registered holding company or subsidiary company thereof and as not detrimen tal to the publ ic interest or the interest o f investors or consumers. Appro val o f securities acquisi- tion of securities and APPROVAL OF ACQUISITION OF SECURI11>JS AND UTILITY ASSETS AND OTHER utility assets and other INTERE STS in tere sts. Application for ; SEC. 10. (a) A person may apply for approval of the acquisition filing. of securities or utility assets, or of any other interest in any business, by filing an application in such form as the Commission may by rules and regulations prescribe as necessary or appropriate in the public interest or for the protection of investors and consumers. Such Contents. application shall includes In the ease or the (1) in the ca se of the ac quisiti on of securi ties, such in format ion acqu isitio n of s ecurit ies. and copies of such documents as the Commission may by rules and regulations or order prescribe as necessary or appropriate in the public interest or for the protection of investors or consumers in respect of- (A) the security to be acquired, the consideration to be paid therefor, and compliance with such State laws as may apply in res ect of the issue, sale, or acquisition thereof, ~B) the outstanding securities of the company whose security is to be acquired, the terms, position, rights, and privileges of each class and the options in respect of any such securities, (C) the names of all security holders of record (or otherwise known to the applicant) owning, holding, or controlling 1 per centum or more of any class of security of such company, the officers and directors of such company, and their remuneration, se curi ty h oldi ngs in, mate rial con trac ts w ith, and bor rowi ngs from such company and the offices or directorships held, and se curiti es owne d, hel d, or contro lled, by them in ot her co mpanie s, (D ) th e bo nus, pro fit- shar ing and voti ng-t rust agr eeme nts, underwriting arrangements, trust indentures, mortgages, and similar documents, by whatever name known, of or relating to such company, (E) the material co ntracts, not ma de in the ordi nary course of busin ess, an d the servic e, sal es, an d const ructio n cont racts of such company, (F) the securities owned, held, or controlled, directly or in- dire ctly, by such c ompany, (G) balance sheets and profit and loss statements of such company for not more than the five preceding fiscal years, cer- tified, if required by the rules and regulations of the Commis- sion by an independent public accountant,