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Code of Federal Regulations Title 17. Commodity and Securities Exchanges § 17.270.32a–1 Exemption of certain companies from affiliation provisions of section 32(a)

Current as of January 02, 2025 | Updated by Findlaw Staff

A registered investment company shall be exempt from the provisions of paragraph (1) of section 32(a) of the Act (54 Stat. 838;  15 U.S.C. 80a–31), insofar as said paragraph requires that independent public accounts   1 for such company be selected by a majority of certain members of the board of directors, if:

 1

 So in original;  probably should read “accountants”.

(a) Such company meets the conditions of paragraphs (1) to (8), inclusive, of section 10(d) of the Act (54 Stat. 807;  15 U.S.C. 80a–10);  and

(b) Such accountants are selected by a majority of all the members of the board of directors.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 17. Commodity and Securities Exchanges § 17.270.32a–1 Exemption of certain companies from affiliation provisions of section 32(a) - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-17-commodity-and-securities-exchanges/cfr-sect-17-270-32a-1/

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