Practice question
Explain why a note or evidence of indebtedness issued as an investment instrument need not grant voting or ownership rights to fall within Section3.1(a). Distinguish the classification issue from whether its sale has a registration exemption.
Legal references
- RA8799 Securities Regulation Code: https://lawphil.net/statutes/repacts/ra2000/ra_8799_2000.html Sections3.1(a),8–10.
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