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Code · BILL · 113th Congress · H.R. 31 (Introduced in House) — To amend the Investment Company Act of 1940 to change the asset coverage ratio and treatment of preferred stock for b... · Sec. 2

Sec. 2. Amendments to permit business development companies to own investment advisers

90 words·~1 min read·/bill/113/hr/31/ih/section-2

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Section 60 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–59 ) is amended by striking except that the Commission shall not and inserting the following: except that— section 12 shall not apply to the purchasing, otherwise acquiring, or holding by a business development company of any security issued by, or any other interest in the business of, any person who is an investment adviser registered under title II of this Act or who is an investment adviser to an investment company; and the Commission shall not .
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  • 15 USC 80a–59
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Sec. 2
Amendments to permit business development companies to own investment advisers
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