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Code · BILL · 119th Congress · H.R. 3248 (Introduced in House) — To establish a domestic ownership succession investment facility, and for other purposes. · Sec. 10

Sec. 10. Exemptions

366 words·~2 min read·/bill/119/hr/3248/ih/section-10

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Notwithstanding the provisions of title I of the Securities Act of 1933 ( 15 U.S.C. 77a et seq. ), the Securities and Exchange Commission may from time to time by the rules and regulations of the Securities and Exchange Commission, and subject to such terms and conditions as may be prescribed under section 3 of the Securities Act of 1933 ( 15 U.S.C. 77c ), add to the securities exempted as provided in section 3 of that Act any class of securities issued by an ownership investment company under this Act if the Securities and Exchange Commission finds, having regard to the purposes of the Securities Act of 1933 ( 15 U.S.C. 77a et seq. ), that the enforcement of title I of the Securities Act of 1933 ( 15 U.S.C. 77a et seq. ), with respect to such securities, is not necessary in the public interest and for the protection of investors.
Notwithstanding the provisions of title III of the Trust Indenture Act of 1939 ( 15 U.S.C. 77aaa et seq. ), the Securities and Exchange Commission may from time to time by the rules and regulations of the Securities and Exchange Commission, and subject to such terms and conditions as may be prescribed under section 304 of the Trust Indenture Act of 1939 ( 15 U.S.C. 77ddd ), add to the securities exempted as provided in section 304 of that Act any class of securities issued by an ownership investment company under this Act if the Securities and Exchange Commission finds, having regard to the purposes of the Trust Indenture Act of 1939 ( 15 U.S.C. 77aaa et seq. ), that the enforcement of title III of the Trust Indenture Act of 1939 ( 15 U.S.C. 77aaa et seq. ), with respect to such securities is not necessary in the public interest and for the protection of investors.
Notwithstanding the provisions of section 18 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–18 ), the provisions of subparagraphs
(A)and
(B)of subsection (a)(1) of that section shall not apply to any ownership investment company operating under this Act, provided that such class of senior security shall be guaranteed by the Department.
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  • 15 USC 80a–18
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cites case law
Sec. 10
Exemptions
U.S.C.§ 77a
U.S.C.§ 77c
U.S.C.§ 77aaa
U.S.C.§ 77ddd
Cite15 USC 80a–18
Cites 5Cited by 0 across 0 sources
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