Investment Company Act of 1940 Exceptions: Guide for Transactional Lawyers | Practical Law

Investment Company Act of 1940 Exceptions: Guide for Transactional Lawyers | Practical Law

This Practice Note provides an overview of the exceptions and exemptions under the Investment Company Act of 1940 commonly relied on in corporate and finance transactions. The Note also explains why it is important for ordinary companies to avoid becoming "inadvertent investment companies" subject to the Investment Company Act (also referred to as '40 Act or ICA).

Investment Company Act of 1940 Exceptions: Guide for Transactional Lawyers

Practical Law Practice Note 1-504-8727 (Approx. 57 pages)

Investment Company Act of 1940 Exceptions: Guide for Transactional Lawyers

by Gregory Merz, Gibson, Dunn & Crutcher LLP
This Practice Note provides an overview of the exceptions and exemptions under the Investment Company Act of 1940 commonly relied on in corporate and finance transactions. The Note also explains why it is important for ordinary companies to avoid becoming "inadvertent investment companies" subject to the Investment Company Act (also referred to as '40 Act or ICA).
The author wishes to thank J. Alan Bannister, Partner, Jason J. Cabral, Partner, and Jeffrey L. Steiner, Partner, at Gibson, Dunn & Crutcher LLP, for their assistance with this Note.