Equity securities of domestic issuers acquired from the issuer, a distributor, or any of their respective affiliates in a transaction subject to the conditions of Sec. 230.901 or Sec. 230.903 are deemed to be ``restricted securities'' as defined in Sec. 230.144. Resales of any of such restricted securities by the offshore purchaser must be made in accordance with this Regulation S (Sec. 230.901 through Sec. 230.905, and Preliminary Notes), the registration requirements of the Act or an exemption therefrom. Any ``restricted securities,'' as defined in Sec. 230.144, that are equity securities of a domestic issuer will continue to be deemed to be restricted securities, notwithstanding that they were acquired in a resale transaction made pursuant to Sec. 230.901 or Sec. 230.904. [63 FR 9647, Feb. 25, 1998]
Regulation CE--Coordinated Exemptions for Certain Issues of Securities
Exempt Under State Law