16 CFR §802.10

1. (a)The acquisition of voting securities pursuant to a stock split or pro rata stock dividend is exempt from the requirements of the Act under section 7A(c)(10).
2. (b)An acquisition of non-corporate interests or voting securities as a result of the conversion of a corporation or unincorporated entity into a new entity is exempt from the requirements of the Act if:
   1. (1)No new assets will be contributed to the new entity as a result of the conversion; and
   2. (2)Either:
      1. (i)As a result of the transaction the acquiring person does not increase its per centum holdings in the new entity relative to its per centum holdings in the original entity; or
      2. (ii)The acquiring person controlled the original entity.