§ 21.18. Exemptions for small transactions.
(a) Any acquisition of securities shall be exempt from section 302.1(1) of the act (40 P. S. § 422.1(1)) if the person effecting the acquisition does not:
(1) Within 6 months thereafter effect any disposition, otherwise than by way of gift, of securities of the same class.
(2) Participate in acquisitions or in dispositions of securities of the same class having a total market value in excess of $3,000 for any 6-month period during which the acquisition occurs.
(b) Any acquisition or disposition of securities by way of gift, if the total amount of the gifts does not exceed $3,000 in market value for any 6-month period, shall be exempt from section 302.1(1) of the act, and may be exluded from the computations prescribed in subsection (a)(2) of this section.
(c) Any person exempted by subsection (a) or (b) shall include in the first statement filed by him after a transaction within the exemption a statement showing his acquisitions and dispositions for each 6-month period or portion thereof which has elapsed since his last filing.
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