General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 16b-1 -- Transactions Approved by a Regulatory Authority
Any purchase and sale, or sale and purchase, of a security
shall be exempt from Section 16(b) of the Act,
if the transaction is effected by an investment company registered under the Investment
Company Act of 1940 and both the purchase and sale of such security have been exempted
from the provisions of Section 17(a) of the
Investment Company Act of 1940, by rule or order of the Commission.
Any purchase or sale, or sale and purchase, of a
security shall be exempt from the provisions of Section 16(b) of the Act if:
both the purchase and the sale of the security have been approved
or permitted by the Commission pursuant to the applicable provisions of that Act
and the rules and regulations thereunder.
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