CROSS-REFERENCE TABLE I Section-by-section guide to the Investment Company Act of 1940 and the amendatory bill 3(a). 3(b)(2). Change in reference to another statute which has been amended. Preamble and short title of amendatory bill. Renumbering of paragraphs.. Definition of "interested person' Definition of "separate account". Addition of express requirement of good faith in applications for declarations that applicants Delete superfluous reference. Renumbering of paragraphs to reflect repeal of sec. 3(c)(4) in 1964 and proposed repeal of Modification of exclusion for factoring, discounting, and real estate companies. do. Substitution of new term "interested person" for present term "affiliated person" in section Adds exemptions for bank collective funds for managing agency accounts which are operated Deletion of sales charges in exchange of series shares. Preventing creation and enlargement of fund holding companies. Addition of express standard of reasonableness for managerial compensation in investment Modification of definition of "senior security". Prohibiting distribution of long-term capital gains more frequently than once a year. None 26 None 19-20 10-11, 14 CROSS-REFERENCE TABLE I-Continued Section-by-section guide to the Investment Company Act of 1940 and the amendatory bill-Continued Affected section of the Investment Company Section of the 12 (a) and (b). 22 (b) and (c) and adding new 22(b)(2). Nature of change proposed in amendatory bill Provision for SEC and NASD rulemaking regarding "excessive" sales loads; deleting reference Deletion of language to conform to proposed language of sec. 6 of the bill.. Updating reference to Securities Act of 1933 to reflect 1964 amendments thereto.. 12(c). 22(d). 12(d). Adding new subsec. 22(h).. 24(d). 25(c). 27(a) approval. Reducing percentage of investors' payments legally deductible in "front-end load" contractual plans. Repealing SEC authority to relax requirements of sec. 27(e) in certain cases for smaller invest- To conform reserve requirements for face-amount certificates to amendments to sec. 27 relat- Transmission to SEC of papers filed in stockholder actions. Deletion of word "gross" from statutory provisions governing injunctions for breach of fiduciary duties. Updating statutory reference. CROSS-REFERENCE TABLE II Showing the effect of the amendatory bill on the Investment Advisers Act of 1940 with cross-references to the corresponding sections of the Securities Exchange Act of 1934, as amended by the Securities Acts Amendments of 1964 CROSS-REFERENCE TABLE III Showing effect of amendatory bill on Securities Act of 1933 Nature of proposed change in amendatory bill Add definitions of terms "insurance company" and "separate account". Adding exemption for certain bank common and collective trust funds and insurance company separate accounts. Updating exemptions for securities issued by savings and loan associations. Granting jurisdiction to Federal banking authorities over interests or participations in collective trust funds maintained by banks for funding H.R. 10 plans. CROSS-REFERENCE TABLE IV Showing effect of the amendatory bill on the Securities Exchange Act of 1934 Section of the amendatory bill Affected section of the Securities Exchange Act of 1934 Nature of proposed change in amendatory bill Adding exemption for certain bank common and collective trust funds and insurance company separate accounts. " " Adding definitions of "investment company," "affiliated person,' "insurance company," and "separate account." " Adding exemption for certain bank common and collective trust funds and insurance company separate accounts. 28(d). 12(i). Granting jurisdiction to Federal banking authorities over interests or participatings in collective trust funds maintained by banks for funding H.R. 10 plans. |