May 17, 1984
NEW RULES ON THE REGISTRATION OF LONG TERM COMMERCIAL PAPERS
Pursuant to Section 4(b) of the Revised Securities Act and other existing applicable laws, the Securities and Exchange Commission hereby promulgates the following New Rules and Regulations governing long term commercial papers, in the interest of full disclosure and protection of investors and lenders in accordance with the monetary and credit policies of the Central Bank: cdtai
SECTION 1. Scope. — These Rules shall apply to long term commercial papers issued by corporations.
SECTION 2. Definition. — For purposes of these Rules the following definitions shall apply:
a) Long term commercial papers shall refer to evidence of indebtedness of any corporation to any person or entity with maturity period of more than three hundred sixty-five (365) days.
b) Interbank loan transactions shall refer to borrowings between and among banks and non-bank financial intermediaries duly authorized to perform quasi-banking functions.
c) Issue shall refer to the creation of commercial paper and its actual or constructive delivery to the payee.
d) Appraised value shall refer to the value of the securities at...
