Securities Exempted; Distribution of Shares by Registered Open-End Management Investment Company; Applications Regarding Joint Enterprises or Arrangements and Certain Profit-Sharing Plans, 79298-79299 [2013-31172]
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79298
Federal Register / Vol. 78, No. 250 / Monday, December 30, 2013 / Rules and Regulations
Aviation Operations Center, 1 Neumann
Way, M/D Room 285, Cincinnati, OH 45125;
phone: 877–432–3272; fax: 877–432–3329;
email: geae.aoc@ge.com.
(4) You may view this service information
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this material at the FAA, call 781–238–7125.
(k) Material Incorporated by Reference
None.
Issued in Burlington, Massachusetts, on
December 16, 2013.
Frank P. Paskiewicz,
Acting Director, Aircraft Certification Service.
[FR Doc. 2013–30862 Filed 12–27–13; 8:45 am]
BILLING CODE 4910–13–P
SECURITIES AND EXCHANGE
COMMISSION
17 CFR Parts 230 and 270
[Release No. 33–9503; IC–30845]
Securities Exempted; Distribution of
Shares by Registered Open-End
Management Investment Company;
Applications Regarding Joint
Enterprises or Arrangements and
Certain Profit-Sharing Plans
Securities and Exchange
Commission.
ACTION: Final rule; technical
amendments.
AGENCY:
The Securities and Exchange
Commission (‘‘Commission’’) is
correcting outdated cross-references in
rule 602 under the Securities Act of
1933 (‘‘Securities Act’’) and rule 12b–1
under the Investment Company Act of
1940 (‘‘Investment Company Act’’) and
correcting an inadvertent error in rule
17d–1 under the Investment Company
Act as published in the Federal Register
on January 22, 2003.
DATES: Effective December 30, 2013.
FOR FURTHER INFORMATION CONTACT:
Daniel K. Chang, Senior Counsel, or
Thoreau Bartmann, Branch Chief, at
(202) 551–6792, Investment Company
Rulemaking Office, Division of
Investment Management, U.S. Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–8549.
SUPPLEMENTARY INFORMATION:
SUMMARY:
wreier-aviles on DSK5TPTVN1PROD with RULES
I. Background
A. Rule 602
In December 1958, the Commission
adopted Regulation E under the
Securities Act, which exempts from
registration small offerings by small
business investment companies
registered under the Investment
VerDate Mar<15>2010
15:10 Dec 27, 2013
Jkt 232001
Company Act.1 Regulation E was
amended in 1984 to increase the size of
offerings that may be made under the
regulation, and include as exempted
issuers certain investment companies
who elect to be treated as business
development companies under the
Investment Company Act.2 The purpose
of the 1984 amendments was to increase
the ability of small business investment
companies and business development
companies to raise capital.
As part of Regulation E, rule 602
establishes conditions under which
securities issued by small business
investment companies or business
development companies may be exempt
from registration under the Securities
Act. Rule 602(c)(3) provides that the
exemption is not available for the
securities of any issuer if any of its
affiliated directors, officers, principal
security holders, investment advisers, or
underwriters has been ‘‘subject to an
order of the Commission entered
pursuant to section 203(d) or (e) of the
Investment Advisers Act of 1940.’’ 3
In 1970, the Investment Company
Amendments Act was enacted and,
among other things, redesignated
sections 203(d) and (e) of the Advisers
Act as sections 203(e) and (f),
respectively.4 To correct this crossreference, this technical amendment to
rule 602(c)(3) will replace the crossreference to paragraphs (d) and (e) of
section 203 of the Advisers Act with a
cross-reference to paragraphs (e) and (f).
B. Rule 12b–1
In 1980, the Commission adopted rule
12b–1 under the Investment Company
Act to permit a fund that meets certain
conditions to use fund assets to pay for
distribution of securities of which it is
the issuer. Among other requirements,
the fund must have a written plan
1 Regulation E—Exemption for Securities of Small
Business Investment Companies, 23 FR 10484 (Dec.
30, 1958).
2 Amendments to the Offering Exemption Under
Regulation E of the Securities Act of 1933, 49 FR
35342 (Sept. 7, 1984).
3 Section 203 of the Investment Advisers Act of
1940 (‘‘Advisers Act’’) requires certain investment
advisers to register with the Commission, and gives
the Commission broad enforcement authority over
them. In particular, current section 203(e)
authorizes the Commission, by order, to censure,
place limitations on the activities, functions, or
operations of, suspend, or revoke the registration of
any investment adviser if the Commission makes
certain findings with regards to that adviser.
Current section 203(f) allows the Commission, by
order, to censure, suspend, bar, or place limitations
on the activities of any person associated or seeking
to become associated with an investment adviser or
certain other entities if the Commission makes
certain findings with regards to that person.
4 Investment Company Amendments Act of 1970,
Public Law 91547, 84 Stat. 1413 (Dec. 14, 1970).
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Frm 00016
Fmt 4700
Sfmt 4700
describing all material aspects of the
proposed distribution financing.
Rule 12b–1(g) provides certain
conditions for plans that cover more
than one series or class of shares, but
further provides that paragraph (g) does
not affect the rights of any purchase
class under rule 18f–3(e)(2)(iii).5
On January 2, 2001, the Commission
adopted amendments to certain
exemptive rules under the Investment
Company Act and, among other things,
redesignated paragraph (e) of rule 18f–
3 as paragraph (f). To correct this crossreference, this technical amendment to
rule 12b–1(g) will replace the crossreference to rule 18f–3(e)(2)(iii) with a
cross-reference to rule 18f–3(f)(2)(iii).
C. Rule 17d–1
In January 2003, the Commission
adopted amendments to certain rules
under the Investment Company Act to,
among other things, expand the
exemptions for investment companies
(‘‘funds’’) to engage in transactions with
‘‘portfolio affiliates’’—companies that
are affiliated with the fund solely as the
result of the fund (or an affiliated fund)
controlling them or owning more than
five percent of their voting securities.6
The amendments were designed to
permit transactions between funds and
certain affiliated persons under
circumstances where it was unlikely
that the affiliate would be in a position
to take advantage of the fund.
In implementing these amendments,
the Adopting Release renumbered the
paragraphs of rule 17d–1 and also added
a cross-reference in paragraph (d)(6) of
the rule to rule 17a–6, a related rule
dealing with exemptions for
transactions with portfolio affiliates that
was also amended by the Adopting
Release.7 However, the text of rule 17d–
1(d)(6) as published in the ‘‘Text of Rule
and Form Amendments’’ section of the
Adopting Release, and subsequently in
5 Current rule 18f–3(f)(2)(iii) provides certain
rights for shareholders of purchase classes in funds
that are acquired as part of a merger.
6 Transactions of Investment Companies With
Portfolio and Subadvisory Affiliates, Investment
Company Act Release No. 25888 (Jan. 14, 2003) [68
FR 3142 (Jan. 22, 2003)] (‘‘Adopting Release’’).
7 The cross-reference to rule 17a–6 was intended
to conform provisions in paragraph (d)(6) of rule
17d–1 to similar provisions in rule 17a–6 in order
to make them consistent with regards to which
entities are considered prohibited participants for
purposes of affiliate transactions. See Transactions
of Investment Companies With Portfolio and
Subadvisory Affiliates, Investment Company Act
Release No. 25557 (April 30, 2002) [67 FR 31081
(May 8, 2002)] at n.30 and accompanying text.
The renumbering of the paragraphs of rule 17d–
1 reflected the deletion of a condition in the rule
that limited a fund to committing no more than five
percent of its assets to a joint enterprise with a
portfolio affiliate. See Adopting Release, supra note
1, at n.12.
E:\FR\FM\30DER1.SGM
30DER1
Federal Register / Vol. 78, No. 250 / Monday, December 30, 2013 / Rules and Regulations
the Federal Register, included an
incorrect cross-reference to paragraph
(d)(5)(iii) of the rule instead of (d)(5)(ii).
In addition, the rule as published in the
Code of Federal Regulations
inadvertently omitted three paragraphs
(i.e., (d)(6)(i)–iii)) that should have
followed immediately after paragraph
(d)(6) of rule 17d–1.
This technical amendment to rule
17d–1(d)(6) corrects the internal crossreference to paragraph (d)(5)(ii) instead
of (d)(5)(iii) and restores the
inadvertently omitted paragraphs of the
rule text.
List of Subjects in 17 CFR Parts 230 and
270
Investment companies; Reporting and
recordkeeping requirements; Securities.
Text of Amendment
For reasons set forth in the preamble,
Title 17, Chapter II of the Code of
Federal Regulations is amended as
follows:
PART 230—GENERAL RULES AND
REGULATIONS, SECURITIES ACT OF
1933
1. The authority for part 230
continues to read, in part, as follows:
■
Authority: 15 U.S.C. 77b, 77b note, 77c,
77d, 77d note, 77f, 77g, 77h, 77j, 77r, 77s,
77z–3, 77sss, 78c, 78d, 78j, 78l, 78m, 78n,
78o, 78o–7 note, 78t, 78w, 78ll(d), 78mm,
80a–8, 80a–24, 80a–28, 80a–29, 80a–30, and
80a–37, and Pub. L. 112–106, sec. 201(a), 126
Stat. 313 (2012), unless otherwise noted.
*
*
*
*
*
■ 2. Section 230.602 is amended by
revising paragraph (c)(3) to read as
follows:
§ 230.602
Securities exempted.
wreier-aviles on DSK5TPTVN1PROD with RULES
*
*
*
*
*
(c) * * *
(3) Is subject to an order of the
Commission entered pursuant to section
15(b) or 15A(1) of the Securities
Exchange Act of 1934 (15 U.S.C. 78o(b)
or 78o–3(1)); has been found by the
Commission to be a cause of any such
order which is still in effect; or is
subject to an order of the Commission
entered pursuant to section 203(e) or (f)
of the Investment Advisers Act of 1940
(15 U.S.C. 80b–3(e) or (f));
*
*
*
*
*
PART 270—RULES AND
REGULATIONS, INVESTMENT
COMPANY ACT OF 1940
3. The authority citation for part 270
continues to read, in part, as follows:
■
VerDate Mar<15>2010
15:10 Dec 27, 2013
Jkt 232001
Authority: 15 U.S.C. 80a–1 et seq., 80a–
34(d), 80a–37, and 80a–39, unless otherwise
noted.
*
*
*
*
*
4. Section 270.12b–1 is amended by
revising paragraph (g) to read as follows:
■
§ 270.12b–1 Distribution of shares by
registered open-end management
investment company.
*
*
*
*
(g) If a plan covers more than one
series or class of shares, the provisions
of the plan must be severable for each
series or class, and whenever this rule
provides for any action to be taken with
respect to a plan, that action must be
taken separately for each series or class
affected by the matter. Nothing in this
paragraph (g) shall affect the rights of
any purchase class under § 270.18f–
3(f)(2)(iii).
*
*
*
*
*
■ 5. Section 270.17d–1 is amended by
revising paragraph (d)(6) to read as
follows:
79299
compliance with the standards
described in this paragraph (d)(6).
*
*
*
*
*
Dated: December 24, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013–31172 Filed 12–27–13; 8:45 am]
BILLING CODE P
*
§ 270.17d–1 Applications regarding joint
enterprises or arrangements and certain
profit-sharing plans.
*
*
*
*
*
(d) * * *
(6) The receipt of securities and/or
cash by an investment company or a
controlled company thereof and an
affiliated person of such investment
company or an affiliated person of such
person pursuant to a plan of
reorganization: Provided, That no
person identified in § 270.17a–6(a)(1) or
any company in which such a person
has a direct or indirect financial interest
(as defined in paragraph (d)(5)(ii) of this
section):
(i) Has a direct or indirect financial
interest in the corporation under
reorganization, except owning securities
of each class or classes owned by such
investment company or controlled
company;
(ii) Receives pursuant to such plan
any securities or other property, except
securities of the same class and subject
to the same terms as the securities
received by such investment company
or controlled company, and/or cash in
the same proportion as is received by
the investment company or controlled
company based on securities of the
company under reorganization owned
by such persons; and
(iii) Is, or has a direct or indirect
financial interest in any person (other
than such investment company or
controlled company) who is:
(A) Purchasing assets from the
company under reorganization; or
(B) Exchanging shares with such
person in a transaction not in
PO 00000
Frm 00017
Fmt 4700
Sfmt 9990
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Food and Drug Administration
21 CFR Part 558
[Docket No. FDA–2013–N–0002]
New Animal Drugs for Use in Animal
Feeds; Bambermycins; Correction
AGENCY:
Food and Drug Administration,
HHS.
ACTION:
Final rule; correction.
The Food and Drug
Administration is correcting a document
that appeared in the Federal Register of
December 16, 2013 (78 FR 76059). The
document amended the animal drug
regulations to remove dairy replacement
heifers from the pasture cattle class for
which free-choice, loose-mineral
medicated feeds containing
bambermycins are approved. The
document was published with an
incorrect docket number. This
document corrects that error.
SUMMARY:
DATES:
Effective on December 16, 2013.
FOR FURTHER INFORMATION CONTACT:
Joyce Strong, Office of Policy, Food and
Drug Administration, 10903 New
Hampshire Ave., Bldg. 32, Rm. 3208,
Silver Spring, MD 20993–0002, 301–
796–9148.
In the FR
Doc. 2013–29810, appearing on page
76059 in the Federal Register of
Monday, December 16, 2013 (78 FR
76059), the following correction is
made:
1. On page 76059, in the third
column, the docket number is corrected
to read ‘‘FDA–2013–N–0002.’’
SUPPLEMENTARY INFORMATION:
Dated: December 24, 2013.
Bernadette Dunham,
Director, Center for Veterinary Medicine.
[FR Doc. 2013–31184 Filed 12–27–13; 8:45 am]
BILLING CODE 4160–01–P
E:\FR\FM\30DER1.SGM
30DER1
]]>Agencies
[Federal Register Volume 78, Number 250 (Monday, December 30, 2013)]
[Rules and Regulations]
[Pages 79298-79299]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-31172]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
17 CFR Parts 230 and 270
[Release No. 33-9503; IC-30845]
Securities Exempted; Distribution of Shares by Registered Open-
End Management Investment Company; Applications Regarding Joint
Enterprises or Arrangements and Certain Profit-Sharing Plans
AGENCY: Securities and Exchange Commission.
ACTION: Final rule; technical amendments.
-----------------------------------------------------------------------
SUMMARY: The Securities and Exchange Commission (``Commission'') is
correcting outdated cross-references in rule 602 under the Securities
Act of 1933 (``Securities Act'') and rule 12b-1 under the Investment
Company Act of 1940 (``Investment Company Act'') and correcting an
inadvertent error in rule 17d-1 under the Investment Company Act as
published in the Federal Register on January 22, 2003.
DATES: Effective December 30, 2013.
FOR FURTHER INFORMATION CONTACT: Daniel K. Chang, Senior Counsel, or
Thoreau Bartmann, Branch Chief, at (202) 551-6792, Investment Company
Rulemaking Office, Division of Investment Management, U.S. Securities
and Exchange Commission, 100 F Street NE., Washington, DC 20549-8549.
SUPPLEMENTARY INFORMATION:
I. Background
A. Rule 602
In December 1958, the Commission adopted Regulation E under the
Securities Act, which exempts from registration small offerings by
small business investment companies registered under the Investment
Company Act.\1\ Regulation E was amended in 1984 to increase the size
of offerings that may be made under the regulation, and include as
exempted issuers certain investment companies who elect to be treated
as business development companies under the Investment Company Act.\2\
The purpose of the 1984 amendments was to increase the ability of small
business investment companies and business development companies to
raise capital.
---------------------------------------------------------------------------
\1\ Regulation E--Exemption for Securities of Small Business
Investment Companies, 23 FR 10484 (Dec. 30, 1958).
\2\ Amendments to the Offering Exemption Under Regulation E of
the Securities Act of 1933, 49 FR 35342 (Sept. 7, 1984).
---------------------------------------------------------------------------
As part of Regulation E, rule 602 establishes conditions under
which securities issued by small business investment companies or
business development companies may be exempt from registration under
the Securities Act. Rule 602(c)(3) provides that the exemption is not
available for the securities of any issuer if any of its affiliated
directors, officers, principal security holders, investment advisers,
or underwriters has been ``subject to an order of the Commission
entered pursuant to section 203(d) or (e) of the Investment Advisers
Act of 1940.'' \3\
---------------------------------------------------------------------------
\3\ Section 203 of the Investment Advisers Act of 1940
(``Advisers Act'') requires certain investment advisers to register
with the Commission, and gives the Commission broad enforcement
authority over them. In particular, current section 203(e)
authorizes the Commission, by order, to censure, place limitations
on the activities, functions, or operations of, suspend, or revoke
the registration of any investment adviser if the Commission makes
certain findings with regards to that adviser. Current section
203(f) allows the Commission, by order, to censure, suspend, bar, or
place limitations on the activities of any person associated or
seeking to become associated with an investment adviser or certain
other entities if the Commission makes certain findings with regards
to that person.
---------------------------------------------------------------------------
In 1970, the Investment Company Amendments Act was enacted and,
among other things, redesignated sections 203(d) and (e) of the
Advisers Act as sections 203(e) and (f), respectively.\4\ To correct
this cross-reference, this technical amendment to rule 602(c)(3) will
replace the cross-reference to paragraphs (d) and (e) of section 203 of
the Advisers Act with a cross-reference to paragraphs (e) and (f).
---------------------------------------------------------------------------
\4\ Investment Company Amendments Act of 1970, Public Law 91547,
84 Stat. 1413 (Dec. 14, 1970).
---------------------------------------------------------------------------
B. Rule 12b-1
In 1980, the Commission adopted rule 12b-1 under the Investment
Company Act to permit a fund that meets certain conditions to use fund
assets to pay for distribution of securities of which it is the issuer.
Among other requirements, the fund must have a written plan describing
all material aspects of the proposed distribution financing.
Rule 12b-1(g) provides certain conditions for plans that cover more
than one series or class of shares, but further provides that paragraph
(g) does not affect the rights of any purchase class under rule 18f-
3(e)(2)(iii).\5\
---------------------------------------------------------------------------
\5\ Current rule 18f-3(f)(2)(iii) provides certain rights for
shareholders of purchase classes in funds that are acquired as part
of a merger.
---------------------------------------------------------------------------
On January 2, 2001, the Commission adopted amendments to certain
exemptive rules under the Investment Company Act and, among other
things, redesignated paragraph (e) of rule 18f-3 as paragraph (f). To
correct this cross-reference, this technical amendment to rule 12b-1(g)
will replace the cross-reference to rule 18f-3(e)(2)(iii) with a cross-
reference to rule 18f-3(f)(2)(iii).
C. Rule 17d-1
In January 2003, the Commission adopted amendments to certain rules
under the Investment Company Act to, among other things, expand the
exemptions for investment companies (``funds'') to engage in
transactions with ``portfolio affiliates''--companies that are
affiliated with the fund solely as the result of the fund (or an
affiliated fund) controlling them or owning more than five percent of
their voting securities.\6\ The amendments were designed to permit
transactions between funds and certain affiliated persons under
circumstances where it was unlikely that the affiliate would be in a
position to take advantage of the fund.
---------------------------------------------------------------------------
\6\ Transactions of Investment Companies With Portfolio and
Subadvisory Affiliates, Investment Company Act Release No. 25888
(Jan. 14, 2003) [68 FR 3142 (Jan. 22, 2003)] (``Adopting Release'').
---------------------------------------------------------------------------
In implementing these amendments, the Adopting Release renumbered
the paragraphs of rule 17d-1 and also added a cross-reference in
paragraph (d)(6) of the rule to rule 17a-6, a related rule dealing with
exemptions for transactions with portfolio affiliates that was also
amended by the Adopting Release.\7\ However, the text of rule 17d-
1(d)(6) as published in the ``Text of Rule and Form Amendments''
section of the Adopting Release, and subsequently in
[[Page 79299]]
the Federal Register, included an incorrect cross-reference to
paragraph (d)(5)(iii) of the rule instead of (d)(5)(ii). In addition,
the rule as published in the Code of Federal Regulations inadvertently
omitted three paragraphs (i.e., (d)(6)(i)-iii)) that should have
followed immediately after paragraph (d)(6) of rule 17d-1.
---------------------------------------------------------------------------
\7\ The cross-reference to rule 17a-6 was intended to conform
provisions in paragraph (d)(6) of rule 17d-1 to similar provisions
in rule 17a-6 in order to make them consistent with regards to which
entities are considered prohibited participants for purposes of
affiliate transactions. See Transactions of Investment Companies
With Portfolio and Subadvisory Affiliates, Investment Company Act
Release No. 25557 (April 30, 2002) [67 FR 31081 (May 8, 2002)] at
n.30 and accompanying text.
The renumbering of the paragraphs of rule 17d-1 reflected the
deletion of a condition in the rule that limited a fund to
committing no more than five percent of its assets to a joint
enterprise with a portfolio affiliate. See Adopting Release, supra
note 1, at n.12.
---------------------------------------------------------------------------
This technical amendment to rule 17d-1(d)(6) corrects the internal
cross-reference to paragraph (d)(5)(ii) instead of (d)(5)(iii) and
restores the inadvertently omitted paragraphs of the rule text.
List of Subjects in 17 CFR Parts 230 and 270
Investment companies; Reporting and recordkeeping requirements;
Securities.
Text of Amendment
For reasons set forth in the preamble, Title 17, Chapter II of the
Code of Federal Regulations is amended as follows:
PART 230--GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933
0
1. The authority for part 230 continues to read, in part, as follows:
Authority: 15 U.S.C. 77b, 77b note, 77c, 77d, 77d note, 77f,
77g, 77h, 77j, 77r, 77s, 77z-3, 77sss, 78c, 78d, 78j, 78l, 78m, 78n,
78o, 78o-7 note, 78t, 78w, 78ll(d), 78mm, 80a-8, 80a-24, 80a-28,
80a-29, 80a-30, and 80a-37, and Pub. L. 112-106, sec. 201(a), 126
Stat. 313 (2012), unless otherwise noted.
* * * * *
0
2. Section 230.602 is amended by revising paragraph (c)(3) to read as
follows:
Sec. 230.602 Securities exempted.
* * * * *
(c) * * *
(3) Is subject to an order of the Commission entered pursuant to
section 15(b) or 15A(1) of the Securities Exchange Act of 1934 (15
U.S.C. 78o(b) or 78o-3(1)); has been found by the Commission to be a
cause of any such order which is still in effect; or is subject to an
order of the Commission entered pursuant to section 203(e) or (f) of
the Investment Advisers Act of 1940 (15 U.S.C. 80b-3(e) or (f));
* * * * *
PART 270--RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940
0
3. The authority citation for part 270 continues to read, in part, as
follows:
Authority: 15 U.S.C. 80a-1 et seq., 80a-34(d), 80a-37, and 80a-
39, unless otherwise noted.
* * * * *
0
4. Section 270.12b-1 is amended by revising paragraph (g) to read as
follows:
Sec. 270.12b-1 Distribution of shares by registered open-end
management investment company.
* * * * *
(g) If a plan covers more than one series or class of shares, the
provisions of the plan must be severable for each series or class, and
whenever this rule provides for any action to be taken with respect to
a plan, that action must be taken separately for each series or class
affected by the matter. Nothing in this paragraph (g) shall affect the
rights of any purchase class under Sec. 270.18f-3(f)(2)(iii).
* * * * *
0
5. Section 270.17d-1 is amended by revising paragraph (d)(6) to read as
follows:
Sec. 270.17d-1 Applications regarding joint enterprises or
arrangements and certain profit-sharing plans.
* * * * *
(d) * * *
(6) The receipt of securities and/or cash by an investment company
or a controlled company thereof and an affiliated person of such
investment company or an affiliated person of such person pursuant to a
plan of reorganization: Provided, That no person identified in Sec.
270.17a-6(a)(1) or any company in which such a person has a direct or
indirect financial interest (as defined in paragraph (d)(5)(ii) of this
section):
(i) Has a direct or indirect financial interest in the corporation
under reorganization, except owning securities of each class or classes
owned by such investment company or controlled company;
(ii) Receives pursuant to such plan any securities or other
property, except securities of the same class and subject to the same
terms as the securities received by such investment company or
controlled company, and/or cash in the same proportion as is received
by the investment company or controlled company based on securities of
the company under reorganization owned by such persons; and
(iii) Is, or has a direct or indirect financial interest in any
person (other than such investment company or controlled company) who
is:
(A) Purchasing assets from the company under reorganization; or
(B) Exchanging shares with such person in a transaction not in
compliance with the standards described in this paragraph (d)(6).
* * * * *
Dated: December 24, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-31172 Filed 12-27-13; 8:45 am]
BILLING CODE P
