§ 80a–59. Functions and activities of business development companies

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Notwithstanding the exemption set forth in section 80a–6(f) of this title, section 80a–12 of this title shall apply to a business development company to the same extent as if it were a registered closed-end investment company, except that the Commission shall not prescribe any rule, regulation, or order pursuant to section 80a–12(a)(1) of this title governing the circumstances in which a business development company may borrow from a bank in order to purchase any security.

(Aug. 22, 1940, ch. 686, title I, § 60, as added Pub. L. 96–477, title I, § 105, Oct. 21, 1980, 94 Stat. 2285.)

                    
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