“ BLACKOUT PERIOD— For purposes of this subsection, the term ``blackout period ́ ́, with respect to the equity securities of any issuer— (A) means any period of more than 3 consecutive business days during which the ability of not fewer than 50 percent of the participants or beneficiaries under all individual account plans maintained by the issuer to purchase, sell, or otherwise acquire or transfer an interest in any equity of such issuer held in such an individual account plan is temporarily suspended by the issuer or by a fiduciary of the plan ”

“ NOTICE TO DIRECTORS, EXECUTIVE OFFICERS, AND THE COMMISSION— In any case in which a director or executive officer is subject to the requirements of this subsection in connection with a blackout period (as defined in paragraph (4) ) with respect to any equity securities, the issuer of such equity securities shall timely notify such director or officer and the Securities and Exchange Commission of such blackout period. ”

“ REGULATORY EXCEPTIONS— The Secretary may provide by regulation for additional exceptions to the requirements of this subsection which the Secretary determines are in the interests of participants and beneficiaries. `` (6) GUIDANCE AND MODEL NOTICES— The Secretary shall issue guidance and model notices which meet the requirements of this subsection. ”

“ Section 21A (d) (1) of such Act (15 U.S.C. 78u-1 (d) (1) ) . (3) Section 20 (d) (3) (A) of the Securities Act of 1933 (15 U.S.C. 77t (d) (3) (A) ) . (4) Section 42 (e) (3) (A) of the Investment Company Act of 1940 (15 U.S.C. 80a-41 (e) (3) (A) ) . ”