42 U.S.C. § 2297h: Ownership limitations

in a public offering designed to transfer ownership of the Corporation to private investors, pursuant to any agreement, arrangement, or understanding entered into before the privatization date, or before the election of the directors of the private corporation. any employee stock ownership plan of the Corporation, members of the underwriting syndicate purchasing shares in stabilization transactions in connection with the privatization, or in the case of shares beneficially held in the ordinary course of business for others, any commercial bank, broker-dealer, or clearing agency.