(a) The Commission may issue a stop order denying effectiveness to, orrevoking the effectiveness of, any registration statement if it finds thatsuch an order is in the public interest and that:
(1) The registration statement together with any amendments, or any reportfiled by the registrant or any other document filed in connection with theregistration statement contained any statement which was, at the time and inthe circumstances in which it was made, false or misleading with respect toany material fact or omitted to state any material fact required to be statedtherein;
(2) The applicant or registrant or any agent, partner, officer or director ofthe applicant or registrant (or any person occupying a similar status orperforming similar functions) or any person directly or indirectlycontrolling or controlled by the applicant or registrant has violated, inconnection with the offering, any provision of this chapter or of any otherlaw applicable to the offering, or any rule, order or condition lawfullyimposed under this chapter;
(3) Any person specified in subdivision (2) of this subsection has failed tofurnish any information lawfully requested by the Commission;
(4) The right to sell the securities which are the subject of theregistration statement has been denied or revoked or is suspended under anyfederal act applicable to the offering (and such denial, revocation orsuspension is still in effect);
(5) The issuer is insolvent, either in the sense that its liabilities exceedits assets or in the sense that it cannot meet its obligations as they mature;
(6) The issuer's business includes or probably will include activities whichare forbidden by law;
(7) The offering has worked or tended to work a fraud upon investors orprobably will so operate; or
(8) Where a security is to be or has been registered by notification, it isnot eligible for such registration.
(b) No stop order shall be entered without reasonable notice to the applicantor registrant.
(c) In any proceeding under this section, the Commission may refrain fromissuing or, after issuing, may revoke a stop order on condition that thepersons against whom it is directed correct the matters complained of onwhich it is based.
(a) The Commission may issue a stop order denying effectiveness to, orrevoking the effectiveness of, any registration statement if it finds thatsuch an order is in the public interest and that:
(1) The registration statement together with any amendments, or any reportfiled by the registrant or any other document filed in connection with theregistration statement contained any statement which was, at the time and inthe circumstances in which it was made, false or misleading with respect toany material fact or omitted to state any material fact required to be statedtherein;
(2) The applicant or registrant or any agent, partner, officer or director ofthe applicant or registrant (or any person occupying a similar status orperforming similar functions) or any person directly or indirectlycontrolling or controlled by the applicant or registrant has violated, inconnection with the offering, any provision of this chapter or of any otherlaw applicable to the offering, or any rule, order or condition lawfullyimposed under this chapter;
(3) Any person specified in subdivision (2) of this subsection has failed tofurnish any information lawfully requested by the Commission;
(4) The right to sell the securities which are the subject of theregistration statement has been denied or revoked or is suspended under anyfederal act applicable to the offering (and such denial, revocation orsuspension is still in effect);
(5) The issuer is insolvent, either in the sense that its liabilities exceedits assets or in the sense that it cannot meet its obligations as they mature;
(6) The issuer's business includes or probably will include activities whichare forbidden by law;
(7) The offering has worked or tended to work a fraud upon investors orprobably will so operate; or
(8) Where a security is to be or has been registered by notification, it isnot eligible for such registration.
(b) No stop order shall be entered without reasonable notice to the applicantor registrant.
(c) In any proceeding under this section, the Commission may refrain fromissuing or, after issuing, may revoke a stop order on condition that thepersons against whom it is directed correct the matters complained of onwhich it is based.
(a) The Commission may issue a stop order denying effectiveness to, orrevoking the effectiveness of, any registration statement if it finds thatsuch an order is in the public interest and that:
(1) The registration statement together with any amendments, or any reportfiled by the registrant or any other document filed in connection with theregistration statement contained any statement which was, at the time and inthe circumstances in which it was made, false or misleading with respect toany material fact or omitted to state any material fact required to be statedtherein;
(2) The applicant or registrant or any agent, partner, officer or director ofthe applicant or registrant (or any person occupying a similar status orperforming similar functions) or any person directly or indirectlycontrolling or controlled by the applicant or registrant has violated, inconnection with the offering, any provision of this chapter or of any otherlaw applicable to the offering, or any rule, order or condition lawfullyimposed under this chapter;
(3) Any person specified in subdivision (2) of this subsection has failed tofurnish any information lawfully requested by the Commission;
(4) The right to sell the securities which are the subject of theregistration statement has been denied or revoked or is suspended under anyfederal act applicable to the offering (and such denial, revocation orsuspension is still in effect);
(5) The issuer is insolvent, either in the sense that its liabilities exceedits assets or in the sense that it cannot meet its obligations as they mature;
(6) The issuer's business includes or probably will include activities whichare forbidden by law;
(7) The offering has worked or tended to work a fraud upon investors orprobably will so operate; or
(8) Where a security is to be or has been registered by notification, it isnot eligible for such registration.
(b) No stop order shall be entered without reasonable notice to the applicantor registrant.
(c) In any proceeding under this section, the Commission may refrain fromissuing or, after issuing, may revoke a stop order on condition that thepersons against whom it is directed correct the matters complained of onwhich it is based.
