January 6, 1971
RULES GOVERNING THE REGISTRATION AND/OR LISTING OF SECURITIES OF CORPORATIONS ENGAGED IN OIL AND/OR MINERAL EXPLORATIONS (AS AMENDED)
In order to afford the public opportunity to determine the competence of corporations applying for registration and/or listing of their securities, the performance of their managements and their prospects of success, the Commission, acting in the public interest and for the protection of investors and pursuant to the powers vested in it by existing laws, hereby promulgates the following rules: cda
1. Registration of securities. — No corporation formed for the purpose of engaging in oil or mineral exploration shall be permitted to register securities with a view to selling or offering them for sale to the public under the Securities Act (Commonwealth Act 83, as amended), until the applicant corporation, in the case of an oil exploration company or a company engaged or to engage in petroleum operations, shall have presented a duly certified subsisting service contract with the Petroleum Board, and in the case of a mineral corporation, shall have satisfactorily established that it...
