Page:United States Statutes at Large Volume 90 Part 1.djvu/1441

 PUBLIC LAW 94-435—SEPT. 30, 1976 " ( i i) if such notification is not completed, the notification to the extent completed and a statement of the reasons for such noncompliance, from both persons, or, in the case of a tender offer, the acquiring person; and " (B) end on the thirtieth day after the date of such receipt (or in the case of a cash tender offer, the fifteenth d a y), or on such later date as. may be set under subsection (e)(2) or (g)(2). " (2) The Federal Trade Commission and the Assistant Attorney General may, in individual cases, terminate the waiting period specified in paragraph (1) and allow any person to proceed with any acquisition subject to this section, and promptly shall cause to be p u b lished in the Federal Register a notice that neither intends to take any action within such period with respect to such acquisition. " (3) As used in this section— " (A) The term 'voting securities' means any securities which at present or upon conversion entitle the owner or holder thereof to vote for the election of directors of the issuer or, with respect to unincorporated issuers, persons exercising similar functions. " (B) The amount or percentage of voting securities or assets of a person which are acquired or held by another person shall be determined by aggregating the amount or percentage of such voting securities or assets held or acquired by such other person and each affiliate thereof. " (c) The following classes of transactions are exempt from the requirements of this section— " (1) acquisitions of goods or realty transferred in the ordinary course of business; " (2) acquisitions of bonds, mortgages, deeds of trust, or other obligations which are not voting securities; " (3) acquisitions of voting securities of an issuer at least 50 per centum of the voting securities of which are owned by the acquiring person prior to such acquisition; " (4) transfers to or from a Federal agency or a State or political subdivision thereof; " (5) transactions specifically exempted from the antitrust laws by Federal statute; " (6) transactions specifically exempted from the antitrust laws by Federal statute if approved by a Federal agency, if copies of all information and documentary material filed with such agency are contemporaneously filed with the Federal Trade Commission and the Assistant Attorney General; " (7) transactions which require agency approval under section 18(c) of the Federal Deposit Insurance Act (12 U.S.C. 1 8 2 8 (c)), or section 3 of the B a n k H o l d i n g Company Act of 1956 (12 U.S.C. 1842); " (8) transactions which require agency approval under section 4 of the B a n k H o l d i n g Company Act of 1956 (12 U.S.C. 1843), section 403 or 408(e) of the National Housing Act (12 U.S.C. 1726 and 1730a), or section 5 of the H o m e Owners' Loan Act of 1933 (12 U.S.C. 1464), if copies of all information and documentary material filed with any such agency are contemporaneously filed with the Federal Trade Commission and the Assistant Attorney General at least 30 days prior to consummation of the proposed transaction; " (9) acquisitions, solely for the purpose of investment, of voting securities, if, as a result of such acquisition, the securities

90 STAT. 1391

Waiting period, termination. Publication in Federal Register.

"Voting securities.'

Exempt transactions.

�