days after the prescribed time. Such application shall state the grounds of impracticability and shall contain an agreement to file the report on or before such specified date. The application shall be deemed granted unless the Commission within 10 days after receipt thereof shall enter an order denying the application as being unreasonable and unnecessary under the circumstances.

Rule X-15D-2. Forms for Annual Reports of Registrants Under Securities Act of 1933.

The annual reports required by rule X-15D-1 shall be filed on the appropriate form prescribed below:

Form 1-MD, general form. This form is to be used for the annual reports, pursuant to section 15 (d) of the Securities Exchange Act of 1934, of all issuers except those for which another form is specifically prescribed.

Form 2-MD for investment trusts having securities registered on Form C-1.-This form is to be used for annual reports pursuant to section 15 (d) of the Securities Exchange Act of 1934 relating to securities of unincorporated investment trusts of the fixed or restricted management type having a depositor or sponsor but not having a board of directors or persons performing similar functions, except that this form shall not be used by any trust for which Form N-30A-1 is prescribed.

Form 3-MD for voting trust certificates.-This form is to be used for annual reports, pursuant to section 15 (d) of the Securities Exchange Act of 1934, relating to voting trust certificates.

Form 4-MD for certificates of deposit.-This form is to be used for annual reports, pursuant to section 15 (d) of the Securities Exchange Act of 1934, relating to certificates of deposit issued by a Committee.

Form N-30A-1 for management investment companies.-This form shall be used for annual reports pursuant to Section 15 (d) of the Securities Exchange Act of 1934 of management investment companies registered under the Investment Company Act of 1940, except companies which issue periodic payment plan certificates or which are depositors or sponsors of companies issuing such certificates. Rule X-15D-3. Annual Report for Period for Which Financial

Statements Are Furnished in New Registration Statement. Notwithstanding the provisions of rule X-15D-2, a registrant which files with the Commission, within the period prescribed in rule X-15D-1 for filing an annual report for a particular year, a registration statement on form A-1, A-2, C-1, or E-1 containing financial statements as of the dates and for the periods required under the appropriate form of annual report, may incorporate by reference

all information and documents contained in such registration statement, in lieu of furnishing the information called for by the appropriate form of annual report. In such case the registrant shall file with the Commission in triplicate, within the period prescribed in rule X-15D-1 for filing the annual report, a statement in approximately the following form:

PURSUANT TO RULE X-15D-3, THE REGISTRANT,

HEREBY INCORPORATES BY REFERENCE IN THIS, ITS ANNUAL RE-
PORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE
ACT OF 1934, ALL INFORMATION AND DOCUMENTS CONTAINED IN THE
REGISTRATION STATEMENT ON FORM -- FILED BY IT ON
19—, AS AMENDED UNDER DATES OF

Such statement shall be filed under cover of the facing sheet of the appropriate form for annual report. At least one copy of the statement shall be signed in the form prescribed in the appropriate form of annual report.

Rule X-15D-4. Companies Registered Under the Investment Company Act of 1940.

(a) Notwithstanding rules X-15D-1 and X-15D-2, any registrant for which form 1-MD or 2-MD is appropriate for annual reports pursuant to sections 15 (d) of the Act, and which has filed a registration statement on the appropriate form prescribed under section 8 (b) of the Investment Company Act of 1940, may file copies of such registration statement as its annual report pursuant to said section 15 (d), provided the registration statement covers the period that would be covered by a report on form 1-MD or 2-MD, as the case may be, and provided such report is filed within the period prescribed for filing an annual report pursuant to section 15 (d) or on or before July 15, 1941, whichever is later. This rule shall not apply, however, to any company which has filed a registration statement which itself consists in whole or in part of copies of information and documents filed under the Securities Act of 1933 or the Securities Exchange Act of 1934 and which is filed pursuant to rules and regulations under section 8 (c) of the Investment Company Act of

1940.

(b) Every report filed pursuant to this rule shall be filed under cover of the facing sheet of form 1-MD or 2-MD, whichever is appropriate. The following statement shall appear on the facing sheet of the annual report or on the page immediately following the facing sheet:

THIS ANNUAL REPORT FILED PURSUANT TO RULE X-15D-4 CONSISTS OF INFORMATION AND DOCUMENTS CONTAINED IN THE REGISTRATION STATEMENT ON FORM FILED BY THE REGISTRANT ON

19, PURSUANT TO SECTION 8 OF THE INVESTMENT COMPANY ACT OF 1940.

(c) Any exhibits included in the registration statement which are not required by form 1-MD or 2-MD, as the case may be, for an annual report thereon may be omitted from the annual report.

(d) At least one copy of the registration statement filed with the Commission shall be signed.

REGISTRATION OF NATIONAL AND AFFILIATED SECURITIES

ASSOCIATIONS

Rule X-15AA-1. Registration of a National or an Affiliated Securities Association.

Any application for registration of an association as a national, or as an affiliated, securities association shall be made in triplicate on form X-15AA-1 accompanied by three copies of the exhibits prescribed by the Commission to be filed in connection therewith. Rule X-15AJ-1. Amendments and Supplements to Registration Statements of Securities Associations.

Every association applying for registration or registered as a national securities association or as an affiliated securities association shall keep its registration statement up to date in the manner prescribed below:

(a) Amendments. Promptly after the discovery of any inaccuracy in the registration statement or in any amendment or supplement thereto the association shall file with the Commission an amendment correcting such inaccuracy.

(b) Current Supplements.-Promptly after any change which renders no longer accurate any information contained or incorporated in the registration statement or in any amendment or supplement thereto the association shall file with the Commission a current supplement setting forth such change, except that—

(1) Supplements setting forth changes in the information called for in exhibits C and D need not be filed until ten days after the calendar month in which the changes occur, and

(2) No current supplements need be filed with respect to changes in the information called for in exhibit B.

(3) If changes in the information called for in items (1) and (2) of exhibits C and D are reported in any record which is published at least once a month by the association and promptly filed in triplicate with the Commission, no current supplements need be filed with respect to exhibits C and D.

(c) Annual Supplements.—(1) Promptly after March 1 of each year, the association shall file with the Commission an annual consolidated supplement as of such date on form X-15AJ-2.

(2) Promptly after the close of each fiscal year of the association, it shall file with the Commission a supplement setting forth its bal

ance sheet as of the close of such year and its income and expense statement for such year.

(d) Each amendment or supplement shall be filed in triplicate, at least one of which must be signed and attested, in the same manner as required in the case of the original registration statement, and must conform to the requirements of rule X-2 and form X-15AJ-1, except that the annual consolidated supplement shall be filed on form X-15AJ-2. All amendments and supplements shall be dated and numbered in order of filing. One amendment or supplement may include any number of changes. In addition to the formal filing of amendments and supplements above described, each association shall send to the Commission three copies of any notices, reports, circulars, loose-leaf insertions, riders, new additions, lists, or other records of changes covered by amendments or supplements when, as, and if such records are made available to members of the association.