Examples of Rule 3a-5 in a sentence
Also, U.S. finance subsidiaries that are organized under Rule 3a-5 of the 1940 Act are not covered funds, but foreign entities set up for the same purpose, and which would never have considered conforming with Rule 3a-5 because at the time of formation they would not have needed to for jurisdictional reasons, might be covered funds.
The most commonly used exemptions are: Rule 3a-6 for foreign banks; Rule 3a-5 for finance subsidiaries of foreign banks; and Rule 3a-1 for foreign bank holding companies.
PSPIB in its capacity as the “parent company,” and PSP Capital, in its capacity as the primary “finance subsidiary,” each would seek to rely on the proposed relief from Rule 3a-5 granted under the Order.
Company is a finance subsidiary of Parent pursuant to Rule 3a-5 of the Investment Company Act of 1940 (the “ Rule”).
PSP Capital seeks to rely on Rule 3a-5 of the 1940 Act with respect to its future offering of Debt Securities and, in turn, its loans of the proceeds of such offerings to PSPIB and companies controlled by PSPIB.