N.J. Admin. Code § 17:16-84.2

Current through Register Vol. 56, No. 24, December 18, 2024

Section 17:16-84.2 - Permissible transactions

(a) Subject to the limitations contained in this subchapter, the Director may sell and repurchase covered call options on behalf of any eligible fund, provided that any covered call option purchased or sold shall be listed on a securities exchange, traded on the over-the-counter market or be bid/offered on a competitive basis with multiple broker dealers.

(b) Notwithstanding the restrictions in this subchapter, the Council may approve covered call options on a case-by-case basis.

As amended, R.1982 d.193, eff. 6/21/1982.
See: 13 N.J.R. 750(b), 14 N.J.R. 663(d).
(b): Added "the Philadelphia ... Pacific Stock Exchange."
(c) deleted.
Amended by R.2006 d.317, effective 9/5/2006.
See: 38 N.J.R. 2039(a), 38 N.J.R. 3632(a).
Rewrote the section.
Amended by R.2008 d.238, effective 8/18/2008.
See: 40 N.J.R. 2092(b), 40 N.J.R. 4824(b).
Deleted designation (a), substituted ", traded on an" for "in the United States or the" and inserted "or be bid/offered on a competitive basis with multiple broker dealers".
Recodified from N.J.A.C. 17:16-43.2 and amended by R.2014 d.038, effective 3/3/2014.
See: 45 N.J.R. 1477(a), 46 N.J.R. 442(a).
Added designation (a); in (a), substituted "the" for "an" preceding "over-the-counter"; and added (b).