4263. Exceptions

Sections 4264 through 4267 do not apply to trades in:

1. Government of Canada bonds and bonds guaranteed by the Government of Canada,

2. Short‑term bonds that have:

   1. an unexpired term to maturity of six months or less,

   2. an unexpired term‑to-call date of six months or less and selling at, or at a premium over, the call price, or

   3. been called for redemption,

3. bonds callable on future dates at varying prices, and
4. bonds callable at the issuer’s option if the call date is not stated and the bonds are selling at a premium over call price.