General Rules and Regulations
promulgated
under the
Securities Act of 1933
Rule 507 -- Disqualifying Provision Relating to Exemptions Under Rule 504, Rule 505 and Rule 506
No exemption under Rule 504,
Rule 505 or Rule 506 shall
be available for an issuer if such issuer, any of its predecessors or affiliates
have been subject to any order, judgment, or decree of any court of competent jurisdiction
temporarily, preliminary or permanently enjoining such person for failure to comply
with Rule 503.
Paragraph (a) of this section shall not apply if the
Commission determines, upon a showing of good cause, that it is not necessary under
the circumstances that the exemption be denied.
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