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RULE 402. WAIVER OF TESTING REQUIREMENT.[Adopted effective August 1, 1992. Effective dates of amendments: September 21, 1993; May 31, 2002; December 15, 2004; and October 3, 2012.]
The Vice-President of Registration and Membership may waive the requirements of Rule 401 under circumstances approved by the Board of Directors. The decision of the Vice-President of Registration and Membership shall be final. Any sponsor which has been granted a waiver with respect to its APs that becomes ineligible for such waiver shall promptly notify the Vice-President of Registration and Membership in writing of such ineligibility.
[See Interpretive Notice Registration Rule 402: CPOs of Pools Trading Primarily in Securities and Interpretive Notice Registration Rule 402: CTAs Trading Primarily in Securities.]