Investment company
(1) Investment company includes a company that would be an investment company under section 3(a) of the Act (15 U.S.C. 80a-3(a)) but for the exceptions to that definition provided for in sections 3(c)(1) and 3(c)(7) of the Act (15 U.S.C. 80a-3(c)(1) and 80a-3(c)(7)). (2) Money market fund means: (i) An open-end management investment company registered under the Act that is regulated as a money market fund under 270.2a-7; or (ii) A company that would be an investment company under section 3(a) of the Act (15 U.S.C. 80a-3(a)) but for the exceptions to that definition provided for in sections 3(c)(1) and 3(c)(7) of the Act (15 U.S.C. 80a-3(c)(1) and 80a-3(c)(7)) and that: (A) Is limited to investing in the types of securities and other investments in which a money market fund may invest under 270.2a-7; and (B) Undertakes to comply with all the other requirements of 270.2a-7, except that, if the company has no board of directors, the company's investment adviser performs the duties of the board of directors.