58 Pa. Code § 165.13
Where in every case provided for under section 4 of the act (15 P. S. § 2654) and §§ 165.51-165.63 (relating to issuance and transfer of stock) duplicate affidavits are filed with a corporation relating to the issue or transfer of stock, the corporation shall within ten days after receipt of such affidavits file one of each of the duplicate affidavits received by it with the Commission. If the Commission determines that it is inconsistent with the public interest, convenience, or necessity, or with the best interest of racing generally, that any person, association, or corporation continue to be a stockholder of record or the beneficial owner of any interest in stock standing in the name of another, in any corporation licensed under the act, or of any corporation which leases to such licensee the track at which it conducts thoroughbred horse race meets with pari-mutuel wagering, or which owned 25% or more of the stock of such licensee, the Commission shall order each such stockholder or beneficial owner to dispose of his stock or interest therein within a period of time specified by the Commission, which period the Commission shall have full power and authority to extend from time to time.
58 Pa. Code § 165.13