Title 13 published on 2014-01-01
The following are only the Rules published in the Federal Register after the published date of Title 13.
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2014-10-21; vol. 79 # 203 - Tuesday, October 21, 2014 79 FR 62819 - Small Business Investment Companies—Investments in Passive Businesses
GPO FDSys XML | Text Additional Documents SMALL BUSINESS ADMINISTRATION Final rule. This rule is effective November 20, 2014. 13 CFR Part 107 Summary In this final rule, the U.S. Small Business Administration (SBA) is revising the regulations for the Small Business Investment Company (SBIC) program concerning investments in passive businesses. SBICs are generally prohibited from investing in passive businesses under the Small Business Investment Act of 1958, as amended, as well as under SBIC program regulations. This final rule modifies an exception that allows an SBIC to make an investment in a passive small business that passes through the investment proceeds to one or more subsidiaries, each of which must be a non-passive small business. This modification allows an SBIC to structure an investment utilizing two levels of passive small businesses as pass-through entities under specific circumstances. The purpose of the modification is to place SBICs on a more equal footing with their non-SBIC counterparts in the venture capital and private equity sectors, in which investments structured with two passive levels are not uncommon. This final rule also includes several technical corrections. Specifically, the final rule updates the regulations by replacing obsolete Standard Industrial Classification (SIC) codes with their equivalents under the North American Industrial Classification System (NAICS); corrects erroneous paragraph cross-references; and modernizes the options for meeting the record preservation requirements by removing the reference to “microfilm.”
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.
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United States Code U.S. Code: Title 15 - COMMERCE AND TRADE Statutes at Large
Title 13 published on 2014-01-01
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 13 CFR 107 after this date.
2014-10-21; vol. 79 # 203 - Tuesday, October 21, 2014 79 FR 62819 - Small Business Investment Companies—Investments in Passive Businesses
GPO FDSys XML | Text Additional Documents SMALL BUSINESS ADMINISTRATION Final rule. This rule is effective November 20, 2014. 13 CFR Part 107 Summary In this final rule, the U.S. Small Business Administration (SBA) is revising the regulations for the Small Business Investment Company (SBIC) program concerning investments in passive businesses. SBICs are generally prohibited from investing in passive businesses under the Small Business Investment Act of 1958, as amended, as well as under SBIC program regulations. This final rule modifies an exception that allows an SBIC to make an investment in a passive small business that passes through the investment proceeds to one or more subsidiaries, each of which must be a non-passive small business. This modification allows an SBIC to structure an investment utilizing two levels of passive small businesses as pass-through entities under specific circumstances. The purpose of the modification is to place SBICs on a more equal footing with their non-SBIC counterparts in the venture capital and private equity sectors, in which investments structured with two passive levels are not uncommon. This final rule also includes several technical corrections. Specifically, the final rule updates the regulations by replacing obsolete Standard Industrial Classification (SIC) codes with their equivalents under the North American Industrial Classification System (NAICS); corrects erroneous paragraph cross-references; and modernizes the options for meeting the record preservation requirements by removing the reference to “microfilm.”
