Text
TITLE 17 - COMMODITY AND SECURITIES EXCHANGES
CHAPTER II - SECURITIES AND EXCHANGE COMMISSION
PART 270 - RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940
270.3a - 3 - Certain investment companies owned by companies which are not investment companies.
Notwithstanding section 3(a)(1)(A) or section 3(a)(1)(C) of the Act (15 U.S.C. 80a3(a)(1)(A) or 80a3(a)(1)(C)), an issuer will be deemed not to be an investment company for purposes of the Act; Provided, That all of the outstanding securities of the issuer (other than short-term paper, directors' qualifying shares, and debt securities owned by the Small Business Administration) are directly or indirectly owned by a company which satisfies the conditions of 270.3a1(a) and which is: (a) A company that is not an investment company as defined in section 3(a) of the Act; (b) A company that is an investment company as defined in section 3(a)(1)(C) of the Act (15 U.S.C. 80a3(a)(1)(C)), but which is excluded from the definition of the term investment company by section 3(b)(1) or 3(b)(2) of the Act (15 U.S.C. 80a3(b)(1) or 80a3(b)(2)); or (c) A company that is deemed not to be an investment company for purposes of the Act by rule 3a1.
[46 FR 6884, Jan. 22, 1981, as amended at 67 FR 43536, June 28, 2002]
Sponsored links
