Rev. Rul. 68-135

Revenue Ruling 67-196, C.B. 1967-1, 313, lists foreign corporations which have been issued rulings, pursuant to section 4920(b) of the Internal Revenue Code of 1954, exempting certain classes of stock from the interest equalization tax. Subsequent to the publication of that ruling, Husky Oil Canada Limited has notified the Service that it will issue nonexempt shares that will not be easily identifiable from the exempt shares. Held, Revenue Ruling 67-196 is hereby modified by the deletion of `Husky Oil Canada Limited-common stock' from the listing.

This action by the Internal Revenue Service with respect to Husky Oil Canada Limited common stock does not invalidate the exemption provided by section 4920(b) of the Code. If a United States person can establish that the shares acquired are shares which do meet the requirements of section 4920(b) of the Code or that some other exemption is applicable, such an acquisition will not be subject to the interest equalization tax.

¹ Also released as Technical Information Release 969, dated February 21, 1968.