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![handle is hein.ali/alifs0020 and id is 1 raw text is: January 8, 1974
FEDERAL SECURITIES CODE
PREL. DRAFT NO. 12
Errata and Addenda
P. 234B-1. Substitute: Filing means anything filed with
the Commission for for purposes of section 1603(a) a State
securities commission) pursuant to * *
P. 251A-1. Substitute: Sec. 251A. [Ynowledqe.] Know and
its derivatives mean a firm belief unaccompanied by substantial
doubt. See also section 296AA.
Insert: Sec. 296AA. (Sciente] A person makes (or, within
the meaning of section 170T(b) , causes, commands, induces,
procures, or gives substantial' assistaoce to, the making of) a
misrepresentation with scienter if he (a) knows that the matter
is otherwise than represented, (b) does not have the confidcnce
in its existence or nonexistence that he expresses or implies,
or (c) knows that he does not have the basis that he states or
implies he has for his belief. See also section 251A.
P. 513-1, 5513(a) : In Iine 7, after disclosure, inisert:
(for distributions not therein exempted).
N. B. : There is no p. 1502-2.
P. 1503-1, §1503(a). In line 4, insert accounting before
principles.
P. 1503-3, §1503(b)(2). In line 4, deloLe: or a roei-trant.
P. 1503-4. In §1503(c) (1) lines 3-4, change signet] or
certified to reported on.
P. 1503-5. In §1503(c) (2), line 3, change may to shall.
P. 1503-6, 51503(d). In lines 4-5, delete: designed * * *
directors. [The deleted language will be reflected in a comrment.]
P. 1503-7, §1503(e). Reverse (1) and (2), and chanae the new
(1) to read: (1) the Comnmission, by rule, may prescribe uniform---
systems for keeping their required accounts; and * *
P. 1507-1, §1507(a) (1): In lines 1- , delete: in * * *
misrepresentation. Substitute: with scienter.
P. 1507-2, §1507(a)(4): In lines 2-3, delete: that k * *
misrepresentation. Substitute: with scienter.
P. 1507-8, ist full 11, 2d line, and 2d full 1I, 2d line:
Delete: (a).](ViewImageLocal?handle=hein.ali/alifs0020&div=1&collection=&method=preview&ext=.png&size=3)