Page:United States Statutes at Large Volume 92 Part 1.djvu/326

 92 STAT. 272

15 USC 78o.

Ante, p. 259.

Ante, p. 254. Ante, p. 266.

Post, p. 2549.

PUBLIC LAW 95-283—MAY 21, 1978 "(4) CUSTOMER XAME SECURITIES.—The term 'customer name securities' means securities which were held for the account of a customer on the filing date by or on behalf of the debtor and which on the filing date were registered in the name of the customer, or were in the process of being so registered pursuant to instructions from the debtor, but does not include securities registered in the name of the customer which, by endorsement or otherwise, were in negotiable form. "(5) CUSTOMER PROPERTY.—The term 'customer property' means cash and securities (except customer name securities delivered to the customer) at any time received, acquired, or held by or for the account of a debtor from or for the securities accounts of a customer, and the proceeds of any such property transferred by the debtor, including property unlawfully converted. The term 'customer property' includes— " (A) securities held as property of the debtor to the extent that the inability of the debtor to meet its obligations to • customers for their net equity claims based on securities of the same class and series of an issuer is attributable to the debtor's noncompliance with the requirements of section 15 (c)(3) of the 1934 Act and the rules prescribed under such section; "(B) resources provided through the use or realization of customers' debit cash balances and other customer-related debit items as defined by the Commission by rule; "(C) any cash or securities apportioned to customer property pursuant to section 6(d); and "(D) any other property of the debtor which, upon compliance with applicable laws, rules, and regulations, would have been set aside or held for the benefit of customers, unless the trustee determines that including such property within the meaning of such term would not significantly increase customer property, " (6) DEBTOR.—The term 'debtor' means a member of SIPC with respect to whom an application for a protective decree has been filed under section 5(a)(3) or a direct payment procedure has been instituted under section 10(b). "(7) ExAMixiXG AUTHORITY.—The term 'examining authority" means, with respect to any member of SIPC (A) the self-regulatory organization which inspects or examines such member of SIPC, or (B) the Commission if such member of SIPC is not a member of or participant in any self-regulatory organization or if the Commission has designated itself examining authority for such member pursuant to section 13(c). "(8) FiLixcr DATE.—The term 'filing date' means the date on which an application for a protective decree is filed under section 5(a)(3), except that— "(A) if a petition was filed before such date by or against the debtor under the Bankruptcy Act, or under chapter X or X I of such Act. as now in eft'ect or as amended from time to time, the term 'filing date' means the date on which such petition was filed; "(B) if the debtor is the subject of a proceeding pending in any court or before any agency of the United States or any State in which a receiver, tnistee, or liquidator for such debtor

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