Notwithstanding the exemption set forth in section
80a–6(f) of this title, section
80a–47 of this title shall apply to a business development company to the same extent as if it were a registered closed-end investment company, except that the provisions of section
80a–47(a) of this title shall not be construed to require any company which is not an investment company within the meaning of section
80a–3(a) of this title to comply with the provisions of this subchapter which are applicable to a business development company solely because such company is a wholly-owned subsidiary of, or directly or indirectly controlled by, a business development company.
Notwithstanding the exemption set forth in section
80a–6(f) of this title, section
80a–47 of this title shall apply to a business development company to the same extent as if it were a registered closed-end investment company, except that the provisions of section
80a–47(a) of this title shall not be construed to require any company which is not an investment company within the meaning of section
80a–3(a) of this title to comply with the provisions of this subchapter which are applicable to a business development company solely because such company is a wholly-owned subsidiary of, or directly or indirectly controlled by, a business development company.
Source
(Aug. 22, 1940, ch. 686, title I, § 65, as added Pub. L. 96–477, title I, § 105,Oct. 21, 1980, 94 Stat. 2289.)
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15 USC
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