Transactions by investment companies.
Section 6
SEC. 6. Transactions by investment companies.— No investment company organized or otherwise created under the laws of the Philippines and having a board of directors, unless registered under section seven, shall directly or indirectly— offer for sale, sell, or deliver after sale, within the Philippines, any security or any interest in a security, whether the issuer of such security is such investment company or another person; purchase, redeem, retire, or otherwise acquire or attempt to acquire, within the Philippines, any security, or any interest in a security, whether the issuer of such security is such investment company or another person; control any investment company which does any of the acts enumerated in paragraphs (1) and (2). The provisions of this subsection shall not apply to transactions of an investment company which are merely incidental to its dissolution. No depositor or trustee of or underwriter for any investment company, organized or otherwise created under the laws of the Philippines and not having a board of directors, unless such company is registered under section eight or exempt under section six, shall directly or indirectly— offer for sale, sell, or deliver after sale, within the Philippines, any security or any interest in a security of which such company is the issuer; purchase, redeem, or otherwise acquire or attempt to acquire, within the Philippines, any security or interest in a security of which such company is the issuer; or sell or purchase for the account of such company, within the Philippines, any security or interest in a security, by whomsoever issued. The provisions of this subsection shall not apply to transactions which are merely incidental to the dissolution of an investment company.