Pennsylvania Statutes Title 70 P.S. Securities § 1-210. Retroactive registration or amendment of notice of filing for certain securities

The department, by regulation, may establish procedures whereby an issuer that has an effective registration pursuant to section 205 or 206  1 where an effective registration statement is on file with the Securities and Exchange Commission regarding the same securities or an open-end or closed-end investment company, face amount certificate company or unit investment trust, as such persons are classified in the Investment Company Act of 1940 (54 Stat. 789, 15 U.S.C. § 80a-1 et seq.), which, during the effective period of registration under section 205 or 206 or the effective period of a notice filing, sold securities in this State in excess of the aggregate amount of securities registered for sale in this State under section 205 or 206 or covered by the notice filing may apply to the department to register such securities retroactive to the date of the initial registration or to amend the notice filing retroactive to the date of the initial notice filing. An application for retroactive registration or amendment of a notice filing for such securities shall not be granted if, at the time the application is filed, a civil, criminal or administrative proceeding is pending alleging violations of section 201  2 for the sale of such securities in this State, or such securities were sold more than twenty-four months prior to the date the application was filed with the department. An application under this section shall not be granted unless the applicable oversale assessment prescribed by section 602.1(d)  3 has been paid.