Code of Federal Regulations Title 17. Commodity and Securities Exchanges § 17.270.2a51–3 Certain companies as qualified purchasers

(a) For purposes of section 2(a)(51)(A) (ii) and (iv) of the Act [15 U.S.C. 80a–2(a)(51) (A)(ii) and (iv) ], a company shall not be deemed to be a qualified purchaser if it was formed for the specific purpose of acquiring the securities offered by a company excluded from the definition of investment company by section 3(c)(7) of the Act [15 U.S.C. 80a–3(c)(7) ] unless each beneficial owner of the company's securities is a qualified purchaser.

(b) For purposes of section 2(a)(51) of the Act [15 U.S.C. 80a–2(a)(51) ], a company may be deemed to be a qualified purchaser if each beneficial owner of the company's securities is a qualified purchaser.