Rule 405.docx
《Rule 405.docx》由会员分享,可在线阅读,更多相关《Rule 405.docx(12页珍藏版)》请在冰豆网上搜索。
![Rule 405.docx](https://file1.bdocx.com/fileroot1/2023-1/28/dc912cdf-0b0a-4d9d-8c00-25100655348e/dc912cdf-0b0a-4d9d-8c00-25100655348e1.gif)
Rule405
SecuritiesLawyer'sDeskbook
publishedbyTheUniversityofCincinnatiCollegeofLaw
RegulatoryHistory
SearchPage
Suggestions
MainTableofContents
Home
GeneralRulesandRegulations
promulgated
underthe
SecuritiesActof1933
Rule405--DefinitionsofTerms
Unlessthecontextotherwiserequires,alltermsusedinRule400toRule494,inclusive,orintheformsforregistrationhavethesamemeaningsasintheActandinthegeneralrulesandregulations.Inaddition,thefollowingdefinitionsapply,unlessthecontextotherwiserequires:
Affiliate.Anaffiliateof,orpersonaffiliatedwith,aspecifiedperson,isapersonthatdirectly,orindirectlythroughoneormoreintermediaries,controlsoriscontrolledby,orisundercommoncontrolwith,thepersonspecified.
Amount.Thetermamount,whenusedinregardtosecurities,meanstheprincipalamountifrelatingtoevidencesofindebtedness,thenumberofsharesifrelatingtoshares,andthenumberofunitsifrelatingtoanyotherkindofsecurity.
Associate.Thetermassociate,whenusedtoindicatearelationshipwithanyperson,means
(1)acorporationororganization(otherthantheregistrantoramajority-ownedsubsidiaryoftheregistrant)ofwhichsuchpersonisanofficerorpartneroris,directlyorindirectly,thebeneficialownerof10percentormoreofanyclassofequitysecurities,
(2)anytrustorotherestateinwhichsuchpersonhasasubstantialbeneficalinterestorastowhichsuchpersonservesastrusteeorinasimilarcapacity,and(3)anyrelativeorspouseofsuchperson,oranyrelativeofsuchspouse,whohasthesamehomeassuchpersonorwhoisadirectororofficeroftheregistrantoranyofitsparentsorsubsidiaries.
Automaticshelfregistrationstatement.ThetermautomaticshelfregistrationstatementmeansaregistrationstatementfiledonFormS-3orFormF-3byawell-knownseasonedissuerpursuanttoGeneralInstructionI.D.orI.C.ofsuchforms,respectively.
Businesscombinationrelatedshellcompany.Thetermbusinesscombinationrelatedshellcompanymeansashellcompany(asdefinedinRule230.405)thatis:
1.FormedbyanentitythatisnotashellcompanysolelyforthepurposeofchangingthecorporatedomicileofthatentitysolelywithintheUnitedStates;or
2.Formedbyanentitythatisnotashellcompanysolelyforthepurposeofcompletingabusinesscombinationtransaction(asdefinedinRule230.165(f))amongoneormoreentitiesotherthantheshellcompany,noneofwhichisashellcompany.
Businessdevelopmentcompany.Thetermbusinessdevelopmentcompanyreferstoacompanywhichhaselectedtoberegulatedasabusinessdevelopmentcompanyundersections55through65oftheInvestmentCompanyActof1940.
Certified.Thetermcertified,whenusedinregardtofinancialstatements,meansexaminedandreporteduponwithanopinionexpressedbyanindependentpublicorcertifiedpublicaccountant.
Charter.Thetermcharterincludesarticlesofincorporation,declarationsoftrust,articlesofassociationorpartnership,oranysimilarinstrument,asamended,affecting(eitherwithorwithoutfilingwithanygovernmentalagency)theorganizationorcreationofanincorporatedorunincorporatedperson.
Commonequity.Thetermcommonequitymeansanyclassofcommonstockoranequivalentinterest,includingbutnotlimitedtoaunitofbeneficialinterestinatrustoralimitedpartnershipinterest.
Commission.ThetermCommissionmeanstheSecuritiesandExchangeCommission.
Control.Thetermcontrol(includingthetermscontrolling,controlledbyandundercommoncontrolwith)meansthepossession,directorindirect,ofthepowertodirectorcausethedirectionofthemanagementandpoliciesofaperson,whetherthroughtheownershipofvotingsecurities,bycontract,orotherwise.
Depositaryshare.Thetermdepositarysharemeansasecurity,evidencedbyanAmericanDepositaryReceipt,thatrepresentsaforeignsecurityoramultipleoforfractionthereofdepositedwithadepositary.
Director.Thetermdirectormeansanydirectorofacorporationoranypersonperformingsimilarfunctionswithrespecttoanyorganizationwhetherincorporatedorunincorporated.
Dividendorinterestreinvestmentplan.Thetermdividendorinterestreinvestmentplanmeansaplanwhichisofferedsolelytotheexistingsecurityholdersoftheregistrant,whichallowssuchpersonstoreinvestdividendsorinterestpaidtothemonsecuritiesissuedbytheregistrant,andalsomayallowadditionalcashamountstobecontributedbytheparticipantsintheplan,providedthesecuritiestoberegisteredarenewlyissued,orarepurchasedfortheaccountofplanparticipants,atpricesnotinexcessofcurrentmarketpricesatthetimeofpurchase,oratpricesnotinexcessofanamountdeterminedinaccordancewithapricingformulaspecifiedintheplanandbaseduponaverageorcurrentmarketpricesatthetimeofpurchase.
Electronicfiler.ThetermelectronicfilermeansapersonoranentitythatsubmitsfilingselectronicallypursuanttoRules100and101ofRegulationS-T.
Electronicfiling.ThetermelectronicfilingmeansadocumentunderthefederalsecuritieslawsthatistransmittedordeliveredtotheCommissioninelectronicformat.
Employee.Thetermemployeedoesnotincludeadirector,trustee,orofficer.
Employeebenefitplan.Thetermemployeebenefitplanmeansanywrittenpurchase,savings,option,bonus,appreciation,profitsharing,thrift,incentive,pensionorsimilarplanorwrittencompensationcontractsolelyforemployees,directors,generalpartners,trustees(wheretheregistrantisabusinesstrust),officers,orconsultantsoradvisors.However,consultantsoradvisorsmayparticipateinanemployeebenefitplanonlyif:
1.Theyarenaturalpersons;
2.Theyprovidebonafideservicestotheregistrant;and
3.Theservicesarenotinconnectionwiththeofferorsaleofsecuritiesinacapital-raisingtransaction,anddonotdirectlyorindirectlypromoteormaintainamarketfortheregistrant'ssecurities.
Equitysecurity.Thetermequitysecuritymeansanystockorsimilarsecurity,certificateofinterestorparticipationinanyprofitsharingagreement,preorganizationcertificateorsubscription,transferableshare,votingtrustcertificateorcertificateofdepositforanequitysecurity,limitedpartnershipinterest,interestinajointventure,orcertificateofinterestinabusinesstrust;anysecurityfutureonanysuchsecurity;oranysecurityconvertible,withorwithoutconsiderationintosuchasecurity,orcarryinganywarrantorrighttosubscribetoorpurchasesuchasecurity;oranysuchwarrantorright;oranyput,call,straddle,orotheroptionorprivilegeofbuyingsuchasecurityfromorsellingsuchasecuritytoanotherwithoutbeingboundtodoso.
Executiveofficer.Thetermexecutiveofficer,whenusedwithreferencetoaregistrant,meansitspresident,anyvicepresidentoftheregistrantinchargeofaprincipalbusinessunit,divisionorfunction(suchassales,administrationorfinance),anyotherofficerwhoperformsapolicymakingfunctionoranyotherpersonwhoperformssimilarpolicymakingfunctionsfortheregistrant.Executiveofficersofsubsidiariesmaybedeemedexecutiveofficersoftheregistrantiftheyperformsuchpolicymakingfunctionsfortheregistrant.
Fiscalyear.Thetermfiscalyearmeanstheannualaccountingperiodor,ifnoclosingdatehasbeenadopted,thecalendaryearendingonDecember31.
Foreigngovernment.Thetermforeigngovernmentmeansthegovernmentofanyforeigncountryorofanypoliticalsubdivisionofaforeigncountry.
Foreignissuer.Thetermforeignissuermeansanyissuerwhichisaforeigngovernment,anationalofanyforeigncountryoracorporationorotherorganizationincorporatedororganizedunderthelawsofanyforeigncountry.
Foreignprivateissuer.
1.Thetermforeignprivateissuermeansanyforeignissuerotherthanaforeigngovernmentexceptanissuermeetingthefollowingconditionsasofthelastbusinessdayofitsmostrecentlycompletedsecondfiscalquarter:
i.Morethan50percentoftheoutstandingvotingsecuritiesofsuchissueraredirectlyorindirectlyownedofrecordbyresidentsoftheUnitedStates;and
ii.Anyofthefollowing:
A.ThemajorityoftheexecutiveofficersordirectorsareUnitedStatescitizensorresidents;
B.Morethan50percentoftheassetsoftheissuerarelocatedintheUnitedStates;or
C.ThebusinessoftheissuerisadministeredprincipallyintheUnitedStates.
2.InthecaseofanewregistrantwiththeCommission,thedeterminationofwhetheranissuerisaforeignprivateissuershallbemadeasofadatewithin30dayspriortotheissuer'sfilingofaninitialregistrationstatementundereithertheActortheSecuritiesExchangeActof1934.
3.Onceanissuerqualifiesasaforeignprivateissuer,itwillimmediatelybeabletousetheformsandrulesdesignatedforforeignprivateissuersuntilitfailstoqualifyforthisstatusattheendofitsmostrecentlycompletedsecondfiscalquarter.Anissuer'sdeterminationthatitfailstoqualifyasaforeignprivateissuergovernsitseligibilitytousetheformsandrulesdesignatedforforeignprivateissuersbeginningonthefirstdayofthefiscalyearfollowingthedeterminationdate.Onceanissuerfailstoqualifyforforeignprivateissuerstatus,itwillremainunqualifiedunlessitmeetstherequirementsforforeignprivateissuerstatusasofthelastbusinessdayofitssecondfiscalquarter.
Instructionstoparagraph
(1)ofthisdefinition:
Todeterminethepercentageofoutstandingvotin