Rules Providing for the Freezing of the Price of a Security Listed in the Stock Exchanges at Certain Levels (as Amended)

March 10, 1976RULES PROVIDING FOR THE FREEZING OF THE PRICE OF A SECURITY LISTED IN THE STOCK EXCHANGES AT CERTAIN LEVELS (AS AMENDED)For the purpose of maintaining sound and equitable trading in securities and to minimize undue speculation, the Commission, pursuant to the powers vested in it under existing laws, hereby adopts and promulgates the following rules: cdll 1. Whenever the price of a security listed in a stock exchange moves 40% up or 30% down in the case of big board issues, and 100% up or 50% down in the case of small board issues, all to be reckoned from the last closing transaction, unless there is an official announcement from the company or the proper government agency which would justify such price fluctuations, the price of the, security shall automatically be frozen by the exchange upon reaching said limit. When this happens, the Chairman of the Board Control Committee or the Floor Trading and Arbitration Committee, as the case may be, or in his absence, any authorized member thereof shall immediately call up...