Sec. 436. Business development company ownership of securities of investment advisers and certain financial companies

213 words·~1 min read·/bill/115/hr/10/ih/section-436

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Section 60 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–59 ) is amended— by striking Notwithstanding and inserting

(a)Notwithstanding ; 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, who is an investment adviser to an investment company, or who is an eligible portfolio company; and the Commission shall not ; by adding at the end the following: Nothing in this section shall prevent the Commission from issuing rules to address potential conflicts of interest between business development companies and investment advisers. . Section 2(a)(46)(B) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2(a)(46)(B) ) is amended by inserting before the semicolon the following: (unless it is described in paragraph (2), (3), (4), (5), (6), or

(9)of such section) . Section 55(a) of the Investment Company Act of 1940 is amended by inserting before the colon the following: , provided that no more than 50 percent of its total assets are assets described in section 3(c) .

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15 USC 80a–59
15 USC 80a–2(a)(46)(B)

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Sec. 436

Business development company ownership of securities of investment advisers and certain financial companies

Cite15 USC 80a–59

Cite15 USC 80a–2(a)(46)(B)

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