CFR > Title 17 - Commodity and Securities Exchanges > CHAPTER II—SECURITIES AND EXCHANGE COMMISSION > PART 240—GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934 > 240.12a-10T—Temporary exemption of eligible credit default swaps from Section 12(a) of the Act.

240.12a-10T—Temporary exemption of eligible credit default swaps from Section 12(a) of the Act.

(a) The provisions of Section 12(a) of the Act (15 U.S.C. 78l(a)) do not apply in respect of any eligible credit default swap, as defined in Rule 239T of the Securities Act of 1933 ( 17 CFR 230.239T) issued or cleared by a clearing agency registered as a clearing agency under Section 17A of the Act (15 U.S.C. 78q-1) or exempt from registration under Section 17A of the Act pursuant to a rule, regulation, or order of the Commission, that will be purchased by or sold to an eligible contract participant (as defined in Section 1a(12) of the Commodity Exchange Act (7 U.S.C. 1a(12)) as in effect on the date of adoption of this section, other than a person who is an eligible contract participant under Section 1(a)(12)(C) of the Commodity Exchange Act.
(b) This temporary rule will expire on July 16, 2011.

Code of Federal Regulations

[74 FR 3975, Jan. 22, 2009, as amended at 74 FR 47725, Sept. 17, 2009; 75 FR 72664, Nov. 26, 2010]

Code of Federal Regulations

Effective Date Note: At 74 FR 3975, Jan. 22, 2009, § 240.12a-10T was added, effective January 22, 2009 through September 25, 2009. At 74 FR 47719, Sept. 17, 2009, the effective date was extended to November 30, 2010. At 75 FR 72664, Nov. 26, 2010, the effective date was extended to July 16, 2011.