Page:United States Statutes at Large Volume 78.djvu/885

 78 STAT. ]

PUBLIC LAW 88-563-SEPT. 2, 1964

843

(C) no amendment was filed with the Securities and Exchange Commission after July 18, 1963, and before the acquisition which had the ejffect of increasing the number of shares of stock or the aggregate face amount of the debt obligations covered by the registration statement. (4) INVESTMENT OF PROCEEDS OF SUBSCRIPTION OFFERING.—Such

amendments shall not apply to an acquisition of stock or debt obligations of a foreign issuer or obligor by a corporation electing under section 4920(a)(3)(B) of the Internal Revenue Code of 1954 to be treated as a foreign issuer or obligor for purposes of Ante, p. 836. chapter 41 of such Code, to the extent that the amount of consideration paid for all such stock and debt obligations does not exceed the proceeds received by such corporation from a subscription offering (completed on or before September 16, 1963) as to which a registration statement was filed with the Securities and Exchange Commission on July 18, 1963, or within 90 days before that date. (5) LISTED SECURITIES.—Such amendments shall not apply to an acquisition made on or before August 16, 1963, if the stock or debt obligation involved was acquired on a national securities exchange registered with the Securities and Exchange Commission. (6) OPTIONS, FORECLOSURES, AND CONVERSIONS.—Such amendments shall not apply to an acquisition— (A) of stock pursuant to the exercise of an option or similar right (or a right to convert a debt obligation into stock), if such option or right was held on July 18, 1963, by the person making the acquisition or by a decedent from whom such person acquired the right to exercise such option or right by bequest or inheritance or by reason of such decedent's death, or (B) of stock or debt obligations as a result of a foreclosure by a creditor pursuant to the terms of an instrument held by such creditor on July 18, 1963. (7) DOMESTICATION.—Such amendments shall not apply to the acquisition by a domestic corporation of the assets of a foreign corporation pursuant to a reorganization described in subparagraph (C), (D), or (F) of section 368(a)(1) of the Internal Revenue Code of 1954 if the acquisition occurs on or before the ^e use 368 180th day after the date of the enactment of this Act and the foreign corporation was a management company registered under the Investment Company Act of 1940 from July 18, 1963, until 54 Stat. 789. 15 USC 80a«51. the time of the acquisition. (8) MEANING OF TERMS.—Terms used in this subsection (except as specifically otherwise provided) shall have the same meaning as when used in chapter 41 of the Internal Revenue Code of 1954. SEC. 3. RETURNS. (a) MAKING OF RETURNS.—Section 6011 (relating to general 26us^c6on" requirement of return, statement, or list) is amended by redesignating subsection (d) as subsection (e), and by adding after subsection (c) the following new subsection: " (d) INTEREST EQUALIZATION TAX RETURNS, ETC.—

"(1) IN GENERAL.—Every person shall make a return for each calendar quarter during which he incurs liability for the tax imposed by section 4911, or would so incur liability but for the provisions of section 4918. The return shall, in addition to such other information as the Secretary or his delegate may by regulations require, include a list of all acquisitions made by such person during the calendar quarter which are exempt under the

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