21VAC5-10-10: Authority

Pursuant to the authority granted by §§ 13.1-523 and 13.1-523.1 of the Virginia Securities Act (§ 13.1-501 et seq. of the Code of Virginia) the following regulations and forms regarding the administration and implementation of the Virginia Securities Act have been adopted.

The intent of these regulations and forms is to supplant written and unwritten administrative policies and to better reflect the realities of current financial, commercial and regulatory principles and practices.

Should any provision or application of these regulations be held invalid, such invalidity shall not affect other provisions which can be given effect without the invalid provision, and to this end the provisions or applications of these regulations and forms are declared to be severable.