250.3—Exemption of certain banks.
(a) General exemption.
Subject to the provisions of § 250.6 and to the requirements contained in paragraph (c) of this section, any bank shall be exempt from any obligation, duty, or liability imposed by the act upon such bank as a holding company solely by reason of such bank owning, controlling, or holding with power to vote any securities of any public-utility or holding company which the bank:
(3)
Has acquired solely for purposes of liquidation in connection with a bona fide debt previously contracted and has owned beneficially for a period of not more than two years.
(b)
Exemptions from section 9 (a )(2 ). Subject to the requirements contained in paragraph (c) of this section, any bank shall be exempt from section 9(a)(2) of the act with respect to the acquisition of any securities by such bank:
(2)
Solely for purposes of liquidation in connection with a bona fide debt previously contracted; or
(c) Statements.
Any bank claiming exemptions pursuant to the provisions of this section shall file a statement on Form U-3A3-1 ( § 259.403 of this chapter) within 30 days after the last day of February of each year. No such statement is required, however, with respect to any security holdings as to which such form is inapplicable by its provisions.
(d) Definition of bank.
The term “bank”, as used in this section, means any company primarily engaged in business as a commercial bank or trust company, or both, and subject to regulation or examination under the laws of the United States or of any State, or any receiver, conservator, or liquidating agent thereof in his capacity as such.