Securities Lawyer's Deskbook
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General Rules and Regulations
promulgated
under the
Securities Act of 1933





Rule 479 -- Procedure with Respect to Abandoned Registration Statements and Post-Effective Amendments


When a registration statement, or a post-effective amendment to such a statement, has been on file with the Commission for a period of nine months and has not become effective the Commission may, in its discretion, proceed in the following manner to determine whether such registration statement or amendment has been abandoned by the registrant. If the registration statement has been amended, otherwise than for the purpose of delaying the effective date thereof, or if the post-effective amendment has been amended, the nine-month period shall be computed from the date of the latest such amendment.
  1. A notice will be sent to the registrant, and to the agent for service named in the registration statement, by registered or certified mail, return receipt requested, addressed to the most recent addresses for the registrant and the agent for service reflected in the registration statement. Such notice will inform the registrant and the agent for service that the registration statement or amendment is out of date and must be either amended to comply with the applicable requirements of the Act and the rules and regulations thereunder or be withdrawn within 30 days after the date of such notice.

  2. If the registrant or the agent for service fails to respond to such notice by filing a substantive amendment or withdrawing the registration statement and does not furnish a satisfactory explanation as to why it has not done so within such 30 days, the Commission may, where consistent with the public interest and the protection of investors, enter an order declaring the registration statement or amendment abandoned.

  3. When such an order is entered by the Commission the papers comprising the registration statement or amendment will not be removed from the files of the Commission but an order shall be included in the file for the registration statement in the following manner: "Declared abandoned by order dated ------." investment companies; business development companies

    Note: The rules which comprise this section of Regulation C (Rule 480 to Rule 489) are applicable only to investment companies and business development companies, except Rule 489, which applies to certain entities excepted from the definition of investment company by rules under the Investment Company Act of 1940. The rules comprising the rest of Regulation C (Rule 400 to Rule 479 and Rule 490 to Rule 494) are, unless the context specifically indicates otherwise, also applicable to investment companies and business development companies. See Rule 400.

Regulatory History


47 FR 11446, Mar. 16, 1982

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