Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Investment Company Act
A 1940 federal statute enacted to curb financial malpractices and abuses by regulating investment-company activities and transactions - specifically, by requiring registration of investment companies and prohibiting transactions by unregistered companies; by making certain persons ineligible as affiliated persons or underwriters; by regulating affiliations of directors, officers, and employees; by barring changes in investment policy without shareholder approval; and by regulating contracts of advisers and underwriters. 15 USCA §§ 80a-1 et seq.
diversified investment company
See COMPANY.
investment company
A company formed to acquire and manage a portfolio of diverse assets by investing money collected from different sources. ( The Investment Company Act of 1940 defines the term as an issuer of securities that (1) is, holds itself out to be, or proposes to be engaged primarily in the business of investing, reinvesting, or trading in securities; (2) is engaged or proposes to engage in the business of issuing face-amount certificates of the installment type, or has been engaged in this business and has such a certificate outstanding; or (3) is engaged or proposes to engage in the business of investing, reinvesting, owning, holding, or trading in securities, and owns or proposes to acquire investment securities having a value exceeding 40% of the value of the issuer's total assets (exclusive of government securities and cash items) on an unconsolidated basis. 15 USCA § 80a-2(a)(16). - Also termed investment trust. See REAL-ESTATE INVESTMENT TRUST; MUTUAL FUND.
small-business investment company
A corporation created under state law to provide long-term equity capital to small businesses, as provided under the Small Business Investment Act and regulated by the Small Business Administration. 15 USCA §§ 661 et seq. - Abbr. SBIC.