Sec. 1161. Termination of exemption for companies in territories of the United States

220 words·~1 min read·/bill/115/hr/2429/ih/section-1161

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Section 6(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–6(a) ) is amended— by striking paragraph (1); and by redesignating paragraphs

(2)through

(5)as paragraphs

(1)through (4), respectively. Except as provided in paragraph (2), the amendment made by subsection

(a)shall take effect on the date of enactment of this Act. With respect to a company that is exempt under section 6(a)(1) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–6(a)(1) ), as in effect on the day before the date of enactment of this Act, the amendment made by subsection

(a)shall take effect on the date that is 3 years after the date of enactment of this Act. The Securities and Exchange Commission, by rule and regulation upon its own motion, or by order upon application, may conditionally or unconditionally, under section 6(c) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–6(c) ), may further delay the effective date for a company described in paragraph

(2)to be not later than the date that is 6 years after the date of enactment of this Act if, before the end of the initial 3-year period, the Commission determines that such a rule, regulation, motion, or order is necessary or appropriate in the public interest and for the protection of investors.

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15 USC 80a–6(a)
15 USC 80a–6(a)(1)
15 USC 80a–6(c)

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Sec. 1161

Termination of exemption for companies in territories of the United States

Cite15 USC 80a–6(a)

Cite15 USC 80a–6(a)(1)

Cite15 USC 80a–6(c)

Cites 3Cited by 0 across 0 sources