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What are exempt transactions?

 

1. Any judicial sale, or sale by an executor, administrator, guardian, receiver or trustee in insolvency or bankruptcy

 

2. Those sold by a pledge, mortgagee, or any other similar lien holder, to liquidate a bona fide debt (a security pledged in good faith as security for such debt

 

3. Those sold or offered for sale in an isolated transaction, the owner not being an underwriter

 

4. Distribution by the corporation of securities to its stockholders as dividends;

 

5. Sale of capital stock of a corporation to its own stockholders exclusively

 

6. Bonds or notes secured by a mortgage are sold to a single purchaser at a single sale

 

7. Delivery of security in exchange for any other security pursuant to the right of conversion



8. Broker’s transactions executed upon the customer’s orders

 

9. Share subscriptions prior to incorporation or in pursuance of an increase in its authorized capital stock

 

10. Exchange of securities by the issuer with its existing security holders exclusively

 

11. Sale by issuer to fewer than 20 persons in the Philippines during any 12 month period

 

12. Sale to banks, investment houses, insurance companies and any entities ruled qualified by the SEC