General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 11d1-2 -- Exemption from Section 11(d)(1) for Certain Investment Company Securities Held by Broker-Dealers as Collateral in Margin Accounts
Any securities issued by a registered open-end investment company or unit investment
trust as defined in the Investment Company Act of 1940 shall be exempted from
the provisions of section 11(d)(1) with respect
to any transaction by a person who is a broker and a dealer who, directly or indirectly,
extends or maintains or arranges for the extension or maintenance of credit on
such security, provided such security has been owned by the person to whom credit
would be provided for more than 30 days, or purchased by such person pursuant
to a plan for the automatic reinvestment of the dividends of such company or trust.
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