Pub. L. 83-577, tit. III, sec. 301

Sec. 301. (a) Paragraph (1) of section 303 of the Trust Indenture Act of 1939 is amended by deleting the following: “as heretofore amended,”. 68 Stat. 687 (b) Paragraph (2) of section 303 of the Trust Indenture Act of 1939 is amended to read as follows: “(2) The terms ‘sale’, ‘sell’, ‘offer to sell’, ‘offer for sale’, and ‘offer’ shall include all transactions included in such terms as provided in paragraph (3) of section 2 of the Securities Act of 1933, except that an offer or sale of a certificate of interest or participation shall be deemed an offer or sale of the security or securities in which such certificate evidences an interest or participation if and only if such certificate gives the holder thereof the right to convert the same into such security or securities.” (c) Paragraph (3) of section 303 of the Trust Indenture Act of 1939 is amended to read as follows: “(3) The term ‘prospectus’ shall have the meaning assigned to such term in paragraph (10) of section 2 of the Securities Act of 1933, except that in the case of securities which are not registered under the Securities Act of 1933, such term shall not include any communication (A) if it is proved that prior to or at the same time with such communication a written statement if any required by section 306 was sent or given to the persons to whom the communication was made, or (B) if such communication states from whom such statement may be obtained (if such statement is required by rules or regulations under paragraphs (1) or (2) of subsection (b) of section 306) and, in addition, does no more than identify the security, state the price thereof, state by whom orders will be executed and contain such other information as the Commission, by rules or regulations deemed necessary or appropriate in the public interest or for the protection of investors, and subject to such terms and conditions as may be prescribed therein, may permit.” (d) Paragraph (4) of section 303 of the Trust Indenture Act of 1939 is amended by inserting the words “offers or” before the word “sells”.