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2-8025

I n s e r t a t bottom of page 19)

(h)

Transactions outside United S t a t e s . - In view of the

p r o v i s i o n s of s e c t i o n 30(b) of the S e c u r i t i e s Exchange Act of
1954, nothing i n t h i s r e g u l a t i o n s h a l l apply t o any c r e d i t o r
i n s o f a r as he t r a n s a c t s a business i n s e c u r i t i e s without t h e
j u r i s d i c t i o n of t h e United S t a t e s , unless he t r a n s a c t s such
business i n contravention of such r u l e s and r e g u l a t i o n s as t h e
S e c u r i t i e s and Exchange Commission may p r e s c r i b e as ne cessary
or a p p r o p r i a t e t o prevent t h e evasion of t h e S e c u r i t i e s Exchange
Act of 1934#