Portfolio 65-2nd: Avoiding Classification as an Investment Company: Exemptions and Exclusions for Business Corporations

Wks. 1 Investment Company Act of 1940

Wks. 2 Selected Rules and Regulations, Investment Company Act of 1940

Wks. 3 Form of Opinion

Wks. 4 Form of Reasoned Opinion

Wks. 5 Investment Company Act Release No. 19,566, “Certain Research and Development Companies” (July 9, 1993) (Proposed Rule)

Wks. 6 Investment Company Act Release No. 25,835, “Certain Research and Development Companies” (Nov. 26, 2002) (Proposed Rule)

Wks. 7 Investment Company Act Release No. 26,077, “Certain Research and Development Companies” (June 16, 2003) (Final Rule)

Wks. 8 Investment Company Act Release No. 14,492, “Commission Policy and Guidelines for Filing of Applications for Exemptions from Some or All of the Provisions of the Investment Company Act of 1940 and the Investment Advisers Act of 1940” (Apr. 30, 1985) (Statement of Position)

Wks. 9 Investment Company Act Release No. 10,943, “Transient Investment Companies” (Nov. 16, 1979) (Proposed Rule)

Wks. 10 Investment Company Act Release No. 11,552, “Transient Investment Companies” (Jan. 14, 1981) (Final Rule)

Wks. 11 Investment Company Act Release No. 10,937, “Certain Prima Facie Investment Companies” (Nov. 13, 1979) (Proposed Rule)

Wks. 12 Investment Company Act Release No. 11,551, “Certain Prima Facie Investment Companies” (Jan. 14, 1981) (Final Rule)

Wks. 13 Investment Company Act Release No. 24,459, “Yahoo! Inc.” (May 18, 2000) (Notice)

Wks. 14 SEC No-Action Letter Response to Willkie Farr & Gallagher (Publicly Available Oct. 23, 2000)

Wks. 14A SEC No-Action Letter Response to Cooley Godward Kronish (Publicly Available July 12, 2007)

Wks. 15 Evaluating the Status of a Parent Company as an Investment Company with Multiple Tiers of Subsidiaries Under §3(a)(1)(C)

Wks. 16 Securities and Exchange Commission v. National Presto Industries, Inc. 486 F.3d 305 (7th Cir. 2007)