Securities Act Release No. 6260

Exchange Act Release No. 17291

Public Utility Holding Company Act Release No. 21784

Investment Company Act Release No. 11439

Accounting Series Release No. 284

November 13, 1980

Technical Amendments to Rules, Forms and Schedules;

Delegation of Authority to the Director of the Division of Corporation Finance

AGENCY: Securities and Exchange Commission.

ACTION: Final rules.

SUMMARY: The Commission announces the adoption of technical amendments to rules, forms and schedules under the Securities Act of 1933 and the Securities Exchange Act of 1934 and amendments to the Commissions general organization rule relating to delegation of authority to the Director of the Division of Corporation Finance. The technical amendments correct certain outdated references, inadvertent omissions and typographical errors and clarify certain terminology and instructions; the amendments to the rule delegating authority to the Director of the Division of Corporation Finance reconcile the provisions of that rule to the provisions of recently revised Rule 12b-25.

EFFECTIVE DATE: (Upon publication in the Federal Register.)

FOR FURTHER INFORMATION CONTACT: Prior to the effective date of the amendments, Mary Margaret Hammond at (202) 272-3059 or Elizabeth K. Norsworthy at (202) 272-2589. Thereafter, William E. Toomey at (202) 272-2573.

SUPPLEMENTARY INFORMATION: The Securities and Exchange Commission today announced certain technical amendments to rules, forms and schedules under the Securities Act of 1933 ("Securities Act") [15 U.S.C. 77a et seq.] and the Securities Exchange Act of 1934 ("Exchange Act") [15 U.S.C. 78a et seq.] and to the Commissions general organization rule which delegates authority to the Director of the Division of Corporation Finance [17 CFR 200.30-1]. The following rules, forms, and schedules are affected by these amendments: Rule 30-1; Rules 3-09 and 5-03 of Regulation S-X [17 CFR 210.3-09]; Items 3, 5, 6, 7 and 9 of Regulation S-K [17 CFR 229.20]; Form S-1 [17 CFR 239.11]; Form S-8 [17 CFR 239.16b]; Form S-11 [17 CFR 239.18]; Form S-7 [17 CFR 239.26]; Form S-16 [17 CFR 239.27]; Form S-18 [17 CFR 239.28]; Rule 12b-25 [17 CFR 240.12b-25]; Rule 14a-4 [17 CFR 240.14a-4]; Rule 14a-6 [17 CFR 240.14a-6]; Rule 14c-5 [17 CFR 240.14c-5]; Schedule 14A [17 CFR 240.14a-101]; Schedule 14B [17 CFR 240.14a-102]; Appendix A to Schedule 14A [17 CFR 240.14a-103]; Schedule 14d-1 [17 CFR 240.14d-100]; Form 8-K [17 CFR 249.308] and Form 10-K [17 CFR 249.310].

The first part of this release describes the general nature of the technical changes and the reasons therefor in order to provide a framework for understanding the text of the technical amendments set forth below. The second part of this release summarizes the amendments to the Commissions general organization rule which delegates authority to the Director of the Division of Corporation Finance and explains the reasons for such amendments.

(I) TECHNICAL CHANGES

The technical amendments announced today are adopted in order (i) to amend certain rules, forms, and schedules under the Securities Act and the Exchange Act to reflect the recent adoption or amendment of certain other rules and forms under those Acts; (ii) to revise certain cross-references in the rules, forms and schedules under the Securities Act and the Exchange Act which have become outdated by reason of the adoption of uniform disclosure items in Regulation S-K; (iii) to correct certain inadvertent omissions and typographical errors made in connection with the recent adoption and amendment of Regulation S-X, Regulation S-K, and certain rules and forms under the Securities Act and the Exchange Act; and (iv) to clarify certain terminology and instructions used in certain rules and forms under the Exchange Act.

The recent adoption and amendment of certain rules and forms under the Securities Act and the Exchange Act have necessitated the amendment of certain other rules and forms in minor respects. For example, Instruction 3 to Item 6 of Regulation S-K, providing for standard disclosure of the security ownership of certain beneficial owners and management, states that the registrant shall be deemed to know the contents of any statements filed with the Commission pursuant to Section 13(d) of the Exchange Act. In order to reflect recent amendments to Rule 13d-1(b) [17 CFR 240.13d-1(b)] ¹ which provide that after December 31, 1978, certain beneficial owners must file a Schedule 13G, the first sentence of Instruction 3 is changed to read: "The registrant shall be deemed to know the contents of any statements filed with the Commission pursuant to Section 13(d) or 13(g) of the Exchange Act." ²

Similarly, the adoption of standard disclosure items in Regulation S-K required change in a number of cross-references in the rules, forms and schedules under the Securities Act and the Exchange Act. For example, Instruction 3 to Item 1 of Form S-11 [17 CFR 239.18], providing for disclosure of the distribution spread of the securities being registered, instructs the registrant, if any of the securities being registered are to be offered for the account of security holders, to set forth following the distribution table a reference to the information called for by Instruction 4 to Item 18. To reflect the revision of Item 18 of Form S-11 to incorporate by reference the requirements of Item 6 of Regulation S-K [Security Ownership of Certain Beneficial Owners and Management], Instruction 3 to Item 1 of Form S-11 is amended to refer to the applicable instruction in Item 6 of Regulation S-K. ³

 In the adoption of recent amendments to the rules and forms, inadvertent omissions and typographical errors were made which require correction as soon as possible. For example, when Item 11  Management Discussion and Analysis of Financial Condition and Results of Operations] was recently added to Regulation S-K, Guides 1 and 22 to the Preparation and Filing of Registration Statements and Periodic Reports [17 CFR 231.4936] requiring similar information in Securities Act and Exchange Act filings were withdrawn. However, when the forms, rules and schedules under the Securities Act and the Exchange Act were amended to incorporate by reference new Item 11 ⁴, amendment of Item 14 of Schedule 14A was inadvertently omitted. Item 14 of Schedule 14A, therefore, is revised by these technical amendments to incorporate by reference the information required by Item 11 of Regulation S-K, i.e. management discussion and analysis of financial condition and results of operations.

Similarly, when Item 7 [Exhibits] was recently added to Regulation S-K, ⁵ a typographical error was made in paragraph (b)(10)(b)(3) which describes certain material contracts which must be filed as exhibits. As proposed, that paragraph was drafted to require the filing of "[a]ny contract calling for the acquisition or sale of any property, plant or equipment for a consideration exceeding 10% of all such assets of the registrant and its subsidiaries." ⁶ At the time of adoption, however, the phrase "of all such assets" was mistakenly typed as "of the assets," thereby inadvertently changing the materiality test from a percentage of fixed assets to a percentage of all assets. Paragraph (b)(10)(b)(3) of Item 7 is, therefore, changed by these technical amendments to substitute the phrase "of such fixed assets" for "of the assets." ⁷

Finally, certain technical amendments are adopted in order to clarify the meaning of certain rules and forms under the Exchange Act. For example, Rule 14a-4 requires that the form of proxy indicate "the identity of the persons on whose behalf the solicitation is made" if the solicitation is made other than by a majority of the board of directors. In order to make clear that a group soliciting proxies in opposition to the board of directors need not identify every individual member of the group, the above phrase has been deleted.

Similarly, the note to Rule 14a-6 [(Proxy) Material Required to be Filed] and Rule 14c-5 [Filing of Information Statement], stating that the printing of definitive copies for distribution should be deferred until staff comments are received and considered, is eliminated in view of confusion expressed as to whether the note modifies the provisions of Rule 14a-6 and 14c-5, which specify the time periods during which proxy material and information statements must be on file with the Commission. In order to make clear that the provisions of Rule 14a-6 and Rule 14c-5 should not be modified, the note is eliminated.

Instruction 4 to Form 8-K, requiring that a request for relief from financial statement requirements be separately submitted, is also clarified by stating that such requests should be addressed to the Chief Accountant of the Division of Corporation Finance.

(II) DELEGATED AUTHORITY

The amendments to the Commissions rule of general organization delegating authority to the Director of the Division of Corporation Finance reconcile the provisions of that rule to the provisions of recently revised Rule 12b-25.

Recent amendments to Rule 12b-25 ⁸ eliminated applications for extensions of time to file information, documents or reports under the Exchange Act, except with respect to certain audited financial statements required by Items 2 and 7 of Form 8-K. At present, however, Rule 30-1 delegates authority to the Director of the Division of Corporation Finance to grant or deny applications filed pursuant to Rule 12b-25 for extensions of time to file information, documents or reports under the Exchange Act. Accordingly, in order to make the provisions of Rule 30-1 consistent with amended Rule 12b-25, paragraph (d)(2)(i) of Rule 30-1 is amended to grant the Director authority to extend the time for filing financial statements required by Exchange Act forms and paragraph (d)(5) is amended to delete reference to the Directors authority to grant or deny applications filed pursuant to Rule 12b-25.

REQUEST FOR COMMENT

In connection with the Commissions continuing review of the rules, regulations, schedules and forms under the Securities Act and the Exchange Act ⁹, interested persons are specifically invited to submit comments identifying any additional inconsistencies, out-of-date references or confusing terminology which have not been corrected by the instant release.

TEXT OF AMENDMENTS

17 CFR Chapter II is amended as follows:

PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND REQUESTS

1. In §200.30-1 paragraphs (d)(2)(i) and (d)(5) are amended to read as follows:

* * * *

PART 210--FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975

2. In §210.3-09 paragraph (a) is amended to read as follows:

* * * * [Text omitted]

3. In §210.5-03 paragraphs (b)7 and (b)9 are amended to read as follows:

* * * * [Text omitted]

PART 229--STANDARD INSTRUCTIONS FOR FILING FORMS UNDER SECURITIES ACT OF 1933 AND SECURITIES EXCHANGE ACT OF 1934--REGULATION S-K

4. In §229.20 Items 3, 5, 6, 7 and 9 are amended as follows:

* * * * [Text omitted]

PART 239--FORMS PRESCRIBED UNDER THE SECURITIES ACT OF 1933

5. Section 239.11 is amended to read as follows:

* * * * [Text omitted]

5. Section 239.16b is amended to read as follows:

* * * * [Text omitted]

6. Section 239.18 is amended to read as follows:

* * * * [Text omitted]

7. Section 239.26 is amended to read as follows:

* * * * [Text omitted]

8. Section 239.27 is amended to read as follows:

* * * * [Text omitted]

9. Section 239.28 is amended as follows:

* * * * [Text omitted]

PART 240--GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934

10. In §240.12b-25 paragraph (f)(1) is amended to read as follows:

* * * * [Text omitted]

11. In §240.14a-4 paragraph (a) is amended to read as follows:

* * * * [Text omitted]

12. §240.14a-6 is amended by eliminating the note which follows paragraph (f).

* * * * [Text omitted]

 13. §240.14c-5 is amended by eliminating the note which follows paragraph (d).

* * * * [Text omitted]

14. In §240.14a-101 Items 9, 10, 11, 14 and 15 are amended to read as follows:

* * * * [Text omitted]

15. In §240.14a-102 Item 4 is amended as follows:

* * * * [Text omitted]

16. Section 240.14a-103 is amended to read as follows:

* * * * [Text omitted]

17. In §240.14d-100 Instruction 1 to Item 9 is amended to read as follows:

* * * * [Text omitted]

PART 249--FORMS, SECURITIES EXCHANGE ACT OF 1934

18. §249.308 is amended to read as follows:

* * * * [Text omitted]

19. In §249.310 General Instruction D is amended to read as follows:

* * * * [Text omitted]

STATUTORY AUTHORITY

The technical amendments set forth herein are adopted pursuant to authority in Sections 7, 10 and 19(a) of the Securities Act [15 U.S.C. 77g, 77j, 77s(a)]; Sections 13, 14, 15(d) and 23(a) of the Exchange Act [15 U.S.C. 78m, 78n, 78o(d), 78w(a)]; Sections 5(b), 14 and 20(a) of The Public Utility Holding Company Act of 1935 [15 U.S.C. 79e(b), 79n, 79t(a)]; and Sections 8, 30, 31(c) and 38(a) of The Investment Company Act of 1940 [15 U.S.C. 80a-8, 80a-29, 80a-30(c) and 80a-37(a)]. The amendments to the Commissions general organization rule delegating authority to the Director of the Division of Corporation Finance are adopted pursuant to Section 1(a) of the Delegation of Functions Act [15 U.S.C. 78d-1(a)].

[Secs. 7, 10, 19(a), 48 Stat. 78, 81, 85; secs. 205, 209, 48 Stat. 906, 908; sec. 8, 68 Stat. 685; sec. 308(a)(2), 90 Stat. 57; secs. 13, 14, 15(d), 23(a), 48 Stat. 894, 895, 901; secs. 3, 8, 49, Stat. 1377, 1379; sec. 203(a), 49 Stat. 704; secs. 4, 5, 6, 78 Stat. 569, 570-574; secs. 2, 3, 82 Star. 454, 455; secs. 1, 2, 3-5, 84 Stat. 1497; secs. 10, 18, 89 Stat. 119, 155; sec. 308(b), 90 Stat. 57; secs. 202, 203, 204, 91 Stat. 1494, 1498, 1499, 1500; secs. 5(b), 14, 20(a), 49 Stat. 812, 827, 833; secs. 8, 30, 31(c), 38(a), 54 Stat. 803, 836, 838, 841; 74 Stat. 201; 84 Stat. 1415; sec. 1(a), 76 Stat. 394; 89 Stat. 163; 15 U.S.C. 77g, 77j, 77s(a), 78m, 78n, 78o(d), 78w(a), 79e(b), 79n, 79t(a), 80a-8, 80a-29, 80a-30(c), 80a-37(a), 78d-1(a)].

PROCEDURAL MATTERS

With respect to the technical amendments to the rules, forms and schedules under the Exchange Act, as required by Section 23(a) of the Exchange Act (15 U.S.C. 78w(a)), the Commission has considered the impact that such technical amendments would have on competition and has concluded that such amendments would not impose any burden on competition.

With respect to the technical amendments to Regulation S-X, Regulation S-K, and the rules, forms and schedules under the Securities Act and the Exchange Act, the Commission believes that it is appropriate to adopt these technical amendments effective immediately in order to clarify rule changes adopted by the Commission on August 27, 1980 ¹⁰ and September 2, 1980 ¹¹ and to eliminate as soon as possible potential confusion resulting from inconsistencies, inadvertent omissions and typographical errors described above. Accordingly, the Commission, pursuant to Section 553(b) of the Administrative Procedure Act ("APA") (5 U.S.C. 553(b)) for good cause finds that notice and opportunity for public comment are not required and that to provide for such notice and comment at this time is impracticable, unnecessary and contrary to the public interest. In addition, the Commission, pursuant to Section 553(d) of the APA (5 U.S.C. 553(d)) finds good cause to adopt the foregoing technical amendments effective immediately in order to clarify existing provisions of Regulations S-X and S-K and the rules, forms and schedules under the Securities Act and the Exchange Act.

With respect to the amendments to the Commissions general organization rule delegating authority to the Director of the Division of Corporation Finance, the Commission finds that such amendments relate solely to agency management and personnel and, accordingly, are excepted pursuant to Section 553(a)(2) of the APA (5 U.S.C. §553(a)(1)) from the provisions of the APA which require prior notice and comment (5 U.S.C. 553(b)) and postponement of the effective date for at least 30 days after publication in the Federal Register (5 U.S.C. 553(d)).

By the Commission.

¹ See Exchange Act Release No. 34-14692 (April 21, 1978) [43 FR 18484].

² Comparable changes are as follows: The reference to General Instruction H of Form 10-K in Instruction 4 to Item 3(b) of Regulation S-K is changed to refer to General Instruction G of Form 10-K in order to reflect recent amendments to Form 10-K (See Securities Act Release No. 6231 (September 2, 1980) [45 FR 63630]; the reference to "dividends paid" in paragraph (c) of Item 9 of Regulation S-K is changed to "dividends declared" in order to reconcile the language used in Item 9 with the language used in Item 10 of Regulation S-K (See Securities Act Release No. 6231 (September 2, 1980) [45 FR 63630]; the reference to Items 26, 27, 28 and 30 of Form S-1 in paragraph (b) of General Instruction G to Form S-1 is changed to refer to Items 25, 26, 27 and 29 of Form S-1 in order to reflect the renumbering of S-1 items (See Securities Act Release No. 5949 (July 28, 1978) [45 FR 34402] and Securities Act Release No. 6019 (January 30, 1979) [44 FR 78641; Instruction 2 to Item 14 of Form S-1 which refers to Form S-9 is deleted to reflect the rescission of Form S-9 (See Securities Act Release No. 5791 (December 20, 1976) [41 FR 56301]); the reference to Item 21 of Form S-1 in Instruction (b) for Summary Prospectuses in Form S-1 is changed to refer to Item 19 of Form S-1 in order to reflect the renumbering of S-1 items (See Securities Act Release No. 5949 (July 28, 1978) [43 FR 34402]; the requirement that a registrant submit two marked copies of a registration statement on Form S-8 found in General Instruction F to Form S-8 is changed to require the submission of one marked copy in order to reflect the recent amendment of Form S-8 and Rule 464 [17 CFR 230.464] to provide for automatic effectiveness (See Securities Act Release No. 6190 (February 22, 1980) [45 FR 13438]; the reference to Item 22(b) of Form S-11 in paragraph (d) of Supplemental Information Required by Form S-11 is changed to refer to Item 21(b) of Form S-11 in order to reflect the renumbering of S-11 items (See Securities Act Release No. 5949 (July 28, 1978) [43 FR 34402]; the reference to Instruction 3(b) of Instructions as to Financial Statements of Form 10-K in Rule 12b-25(f)(1) is changed to refer to Rule 3-09(a) of Regulation S-X in order to reflect the relocation of that Instruction from Form 10-K to Regulation S-X (See technical amendment to Rule 3.09(a) of Regulation S-X described in note 7 infra); the reference to Form 20 in Instruction 1 to Item 9 of Schedule 14d-1 is changed to refer to Form 20-F in order to reflect the recent substitution of Form 20-F [17 CFR 240.220f] for Form 20 (See Exchange Act Release No. 16371 (November 29, 1979) [44 FR 70132]).

³ Comparable changes occasioned by the adoption of Regulation S-K are as follows: the cross-reference to Item 19(a) in General Instruction F of Form S-1 is changed to refer to Item 6(a) of Regulation S-K; the cross-reference to Item 19(a) in Item 21 of Form S-1 is changed to refer to Item 6(a) of Regulation S-K; the cross-reference to Item 18(b) of Form S-1 in Instruction (a) for Summary Prospectuses in Form S-1 is changed to refer to Item 4(d) of Regulation S-K; the cross-reference to Item 18(a) of Form S-11 in paragraph (a) of Supplemental Information Required by Form S-11 is changed to refer to Item 6(a) of Regulation S-K; the cross-reference to Part II of Form 10-K in paragraph (b) of General Instruction A to Form S-7 are changed to refer to Items 3, 4 and 6 of Regulation S-K; the cross-reference to Items 16, 17, 19 and 20 of Form S-1 in paragraph (a) of General Instruction G to Form S-7 is changed to refer to Items 3, 4, and 6 of Regulation S-K; the cross-reference to Item 19(a) of Form S-1 in paragraph (a) of General Instruction G to Form S-7 is changed to refer to Item 6(a) of Regulation S-K; the cross-reference to Items 16-20 of Form S-1 in Item 10 of Form S-7 is changed to refer to Items 3, 4 and 6 of Regulation S-K; the cross-reference to Part II of Form 10-K in Undertaking D of Form S-7 is changed to refer to Items 3, 4 and 6 of Regulation S-K; the cross-reference to Items 16-20 of Form S-1 in Item 8(b) of Form S-16 is changed to refer to Items 3, 4 and 6 of Regulation S-K; the cross-references to Item 7(a) of Schedule 14A in Item 9 of Schedule 14A are changed to refer to Item 4(a) of Regulation S-K; the cross-reference to Item 7 of Schedule 14A in Item 9 of Schedule 14A is changed to refer to Item 4 of Regulation S-K; the cross-reference to Instruction 1 to Item 7(b) of Schedule 14A in Instruction 1 to Item 9 of Schedule 14A is changed to refer to Instruction 6 of Item 4(a) of Regulation S-K; the cross-references to Item 7(d)(1) and (2) of Schedule 14A in Instruction 3(c) to Item 9 of Schedule 14A are changed to refer to Item 4(d)(1) and (2) of Regulation S-K; the cross-reference to Instruction 1 of Item 7(d) of Schedule 14A in Instruction 3(c) to Item 9 of Schedule 14A is changed to refer to Instruction 1 of Item 4(d) of Regulation S-K; the cross-reference to Item 7 of Schedule 14A in Item 10(d) of Schedule 14A is changed to refer to Item 4 of Regulation S-K; the cross-references to Item 7(a) of Schedule 14A in Item 10(c) and (d) of Schedule 14A are changed to refer to Item 4(a) of Regulation S-K; the cross-reference to Instruction 1 to Item 7(b) of Schedule 14A in Instruction 1 to Item 10 of Schedule 14A is changed to refer to Instruction 6 of Item 4(a) of Regulation S-K; the cross-references to Item 7(a) of Schedule 14A in Item 11(b) and (c) of Schedule 14A are changed to refer to Item 4(a) of Regulation S-K; the cross-reference to Item 7 of Schedule 14A in Item 11(c) of Schedule 14A is changed to refer to Item 4 of Regulation S-K; the cross-reference to Instruction 1 to Item 7(b) of Schedule 14A in Instruction 1 to Item 11 of Schedule 14A is changed to refer to Instruction 6 to Item 4(a) of Regulation S-K; the cross-reference to Item 7(f) of Schedule 14A in Item 4(b) of Schedule 14B is changed to refer to Item 4(f) of Regulation S-K; the cross-references to Item 7(d) of Schedule 14A in Appendix A to Schedule 14A is changed to refer to Item 4(d) of Regulation S-K; the cross-reference to Instruction 4 to Item 7(d) of Schedule 14A in Appendix A to Schedule 14A is changed to refer to Instruction 5 to Item 4(d) of Regulation S-K.

⁴ See Securities Act Release No. 6231 (September 2, 1980) [45 FR 63630).

⁵ See Securities Act Release No. 6230 (August 27, 1980) [45 FR 58822].

⁶ See Securities Act Release No. 6149 (November 16, 1979) [44 FR 67143].

⁷ See also paragraph 9(b)(3) of the Instructions as to Exhibits in Form S-18 which is revised by these amendments to substitute the phrase "of such fixed assets" for "of the assets" to correct the same typographical error. Comparable changes are as follows: Rule 3-09(a) of Regulation S-X is changed to include former Instruction 3(b) to Financial Statements required by Form 10-K which was inadvertently omitted when the instructions to financial statements were centralized in Regulation S-X (See Securities Act Release No. 6234 (September 2, 1980) [45 FR 63682]); Paragraphs (h)(7) and (h)(9) of Rule 5-03 of Regulation S-X are changed to include the phrase "in the income statement or in a note thereto" which was inadvertently omitted when Regulation S-X was recently revised (See Securities Act Release No. 6233 (September 2, 1980) [45 FR 63660]); Item 3(e)(1) of Regulation S-K is changed to include a reference to "executive officer" in the first sentence which was inadvertently omitted at the time Item 3 of Regulation S-K was adopted (See Securities Act Release No. 5949 (July 28, 1978) [43 FR 34402]); Instruction 4 to Item 5 of Regulation S-K is changed to include a reference to "affiliate of the registrant" which was inadvertently omitted at the time Item 5 of Regulation S-K was adopted (See Securities Act Release No. 5949 (July 28, 1978) [43 FR 34402]); Column (2) requiring the name of the beneficial owner is added to Item 6(b) of Regulation S-K to correct its inadvertent omission at the time Item 6 of Regulation S-K was adopted (See Securities Act Release No. 5949 (July 28, 1978) [43 FR 34402]); Table I of Item 7 of Regulation S-K is revised to delete the "x" from the S-8 column with respect to tax opinion exhibits to correct a typographical error made at the time Item 7 of Regulation S-K was adopted (See Securities Act Release No. 6230 (August 27, 1980) [45 FR 58822]); Table 1 of Item 7 of Regulation S-K is revised to delete the "x" from the S-2 column with respect to letters regarding unaudited financial information to correct a typographical error made at the time Item 7 of Regulation S-K was adopted (See Securities Act Release No. 6230 (August 27, 1980) [45 FR 58822]); the reference to "Section 410" of the Internal Revenue Code in paragraph (b)(5)(b) of Item 7 of Regulation S-K is changed to "Section 401" to correct a typographical error made at the time Item 7 of Regulation S-K was adopted (See Securities Act Release No. 6230 (August 27, 1980) [45 FR 58822]; paragraph (b)(22) of Item 7 of Regulation S-K is amended to include former Instruction 5 to Item 4 of Form 10-K which was inadvertently omitted at the time of recent amendments to Form 10-K (See Securities Act Release No. 6231 (September 2, 1980) 145 FR 63630]); the first paragraph of Item 15 of Schedule 14A is revised to add the last sentence of former Item 15(c) of Schedule 14A which was inadvertently omitted when the instructions to financial statements were centralized in Regulation S-X (See Securities Act Release No. 6234 (September 2, 1980) [45 FR 63682]; the second paragraph of General Instruction D of Form 10-K is revised to add two sentences which were inadvertently omitted at the time of recent amendments to Form 10-K (See Securities Act Release No. 6231 (September 2, 1980) [45 FR 63630]).

⁸ See Exchange Act Release No. 16718 (April 2, 1980) [45 FR 23651].

⁹ See Securities Act Release No. 6163 (December 5, 1979) [44 FR 72604].

¹⁰ See Securities Act Release No. 6230 (August 27, 1980) [45 FR 58822].

¹¹ See Securities Act Release No. 6231 (September 2, 1980) [45 FR 6360] and Securities Act Release No. 6234 (September 2, 1980) [45 FR 63682].