<P> Rule 144, promulgated by the SEC under the 1933 Act, permits, under limited circumstances, the public resale of restricted and controlled securities without registration . In addition to restrictions on the minimum length of time for which such securities must be held and the maximum volume permitted to be sold, the issuer must agree to the sale . If certain requirements are met, Form 144 must be filed with the SEC . Often, the issuer requires that a legal opinion be given indicating that the resale complies with the rule . The amount of securities sold during any subsequent 3 - month period generally does not exceed any of the following limitations: </P> <Ul> <Li> 1% of the stock outstanding </Li> <Li> the average weekly reported volume of trading in the securities on all national securities exchanges for the preceding 4 weeks </Li> <Li> the average weekly volume of trading of the securities reported through the consolidated transactions reporting system (NASDAQ) </Li> </Ul> <Li> 1% of the stock outstanding </Li> <Li> the average weekly reported volume of trading in the securities on all national securities exchanges for the preceding 4 weeks </Li>

Which of the following are characteristics of the securities act of 1933