Investment Company Act of 1940, as amended


Investment Company Act of 1940, as amended
USA
The Investment Company Act of 1940 (15 U.S.C. §§ 80a-1 − 80a-64) regulates mutual funds and other companies that engage primarily in investing, reinvesting, and trading in securities, and whose own securities are offered to the investing public. The purpose of this Act is to require disclosure about the fund, its investment objectives and the investment company structure and operation to the investing public.
Section 13 of the Act limits the ability of a registered investment company to borrow money or issue securities; loans made in violation of the Act are unenforceable. For this reason, bank loan agreements contain a representation that the borrower is not a registered investment company within the meaning of the Act.
For further information, see the SEC website:
Related terms

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • Investment Company Act of 1940 — Investment Company Act of 1940, as amended (ICA) USA The Investment Company Act of 1940 (15 U.S.C. §§ 80a 1 − 80a 64) regulates mutual funds and other companies that engage primarily in investing, reinvesting, and trading in securities, and whose …   Law dictionary

  • Investment Company Act — of 1940, as amended (ICA) USA The Investment Company Act of 1940 (15 U.S.C. §§ 80a 1 − 80a 64) regulates mutual funds and other companies that engage primarily in investing, reinvesting, and trading in securities, and whose own securities are… …   Law dictionary

  • investment company — see company Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. investment company …   Law dictionary

  • investment adviser — USA Any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities or… …   Law dictionary

  • Securities Fraud Deterrence and Investor Restitution Act — The Securities Fraud Deterrence and Investor Restitution Act was USBill|108|H.R.|2179 and is a bill currently on the Union Calendar. Its official titles as introduced, is To enhance the authority of the Securities and Exchange Commission to… …   Wikipedia

  • Dodd–Frank Wall Street Reform and Consumer Protection Act — Full title An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end too big to fail , to protect the American taxpayer by ending bailouts, to protect consumers… …   Wikipedia

  • Freedom of Information Act (United States) — This article is about the U.S. federal law. For freedom of information in the fifty U.S., see Freedom of information in the United States. For freedom of information in other countries, see Freedom of information legislation. The Freedom of… …   Wikipedia

  • Undertakings for Collective Investment in Transferable Securities Directives — The Undertakings for Collective Investment in Transferable Securities Directives 2001/107/EC and 2001/108/EC (or UCITS ) are a set of European Union Directives that aim to allow collective investment schemes to operate freely throughout the EU on …   Wikipedia

  • United Kingdom company law — Beside the River Thames, the City of London is a global financial centre. Within the Square Mile, the London Stock Exchange lies at the heart of the United Kingdom s corporations. United Kingdom company law is the body of rules that concern… …   Wikipedia

  • National Industrial Recovery Act — Front page of the National Industrial Recovery Act, as signed by President Franklin D. Roosevelt on June 16, 1933. The National Industrial Recovery Act (NIRA), officially known as the Act of June 16, 1933 (Ch. 90, 48 Stat. 195, formerly codified… …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.