Page:United States Statutes at Large Volume 81.djvu/196

 162

PUBLIC LAW 90-59-JULY 31, 1967

[81 STAT.

erty manufactured, produced, grown, or extracted in the United States by one or more such includible corporations, or to the performance of services by one or more such includible corporations, or to both, " (v) debt obligations arising out of loans to dealers or distributors primarily engaged in the business of selling property described in clause (i), (ii), or (iii), the proceeds of which are used by such dealers or distributors m such business, or "(vi) any combination of the foregoing, " (B) at least 90 percent of the actual value of the debt obligations acquired by such corporation during each calendar quarter consists of debt obligations described in subparagraph

78 Stat. 833 78 Stat. 811

78 Stat. 824.

68A Stat. 369.

" (C) such corporation acquires the debt obligations described in subparagraph (A) solely out of the proceeds of the sale (including a sale in a transaction described in section 4919(a)(1) by such corporation (or by a domestic corporation described in section 4912(b)(3) which owns all of the stock of such corporation) of debt obligations of such corporation (or such other domestic corporation) to persons other than— " (i) a United States person, "(ii) a foreign partnership in which such corporation owns directly or indirectly (within the meaning of section 4915(a)(1)) 10 percent or more of the profits interest, or "(iii) a foreign corporation, if such domestic corporation (or one or more includible corporations in an affiliated group, as determined under section 1504, of which such domestic corporation is a member) owns directly or indirectly (within the meaning of section 4915(a)(1)) 10 percent or more of the total combined voting power of all classes of stock of such foreign corporation, except to the extent such foreign corporation has, after having given advance notice to the Secretary or his delegate, sold its debt obligations to persons other than persons described in clause (i) or (ii) or this clause and is using the proceeds of the sale of such debt obligations to acquire the debt obligations of such domestic corporation (or such other domestic corporation), " (D) the total actual value of the outstanding debt obligations described in subparagraph (C) sold by such corporation (or such other domestic corporation) at all times exceeds the total actual value of the debt obligations described in subparagraph (A) owned by such corporation, " (E) the total actual value of the debt obligations described in subparagraph (A) owned by such corporation with a period remaining to maturity of less than one year at the time of acquisition at all times exceed the total actual value of the outstanding debt obligations described in subparagraph (C) sold by such corporation (or such other domestic corporation) with a period remaining to maturity of less than one year at the time of sale (other than debt obligations sold pursuant to an overdraft arrangement).

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