17 CFR 270.6a-5
§ 270.6a-5 Purchase of certain debt securities by companies relying on section 6(a)(5) of the Act.
United States · 17 CFR — Commodity and Securities Exchanges · Status: effective
Cite this
- Citation
- 17 CFR 270.6a-5, § 270.6a-5 Purchase of certain debt securities by companies relying on section 6(a)(5) of the Act, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/69944
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Full text
For purposes of reliance on the exemption for certain companies under section 6(a)(5)(A) of the Act (15 U.S.C. 80a-6(a)(5)(A)), a company shall be deemed to have met the requirement for credit-worthiness of certain debt securities under section 6(a)(5)(A)(iv)(I) of the Investment Company Act (15 U.S.C. 80a-6(a)(5)(A)(iv)(I)) if, at the time of purchase, the board of directors (or its delegate) determines or members of the company (or their delegate) determine that the debt security is:
(a) Subject to no greater than moderate credit risk; and
(b) Sufficiently liquid that it can be sold at or near its carrying value within a reasonably short period of time.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.