Securities Lawyer's Deskbook                          published by The University of Cincinnati College of Law

Rule 479 -- Procedure with Respect to Abandoned Registration Statements and Post-Effective Amendments

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1. A notice will be sent to the registrant, and to the agent for service named in the registration statement, by registered or certified mail, return receipt requested, addressed to the most recent addresses for the registrant and the agent for service reflected in the registration statement. Such notice will inform the registrant and the agent for service that the registration statement or amendment is out of date and must be either amended to comply with the applicable requirements of the Act and the rules and regulations thereunder or be withdrawn within 30 days after the date of such notice.
   
   
2. If the registrant or the agent for service fails to respond to such notice by filing a substantive amendment or withdrawing the registration statement and does not furnish a satisfactory explanation as to why it has not done so within such 30 days, the Commission may, where consistent with the public interest and the protection of investors, enter an order declaring the registration statement or amendment abandoned.
   
   
3. When such an order is entered by the Commission the papers comprising the registration statement or amendment will not be removed from the files of the Commission but an order shall be included in the file for the registration statement in the following manner: "Declared abandoned by order dated ------." investment companies; business development companies
   
   Note: The rules which comprise this section of Regulation C (Rule 480 to Rule 489) are applicable only to investment companies and business development companies, except Rule 489, which applies to certain entities excepted from the definition of investment company by rules under the Investment Company Act of 1940. The rules comprising the rest of Regulation C (Rule 400 to Rule 479 and Rule 490 to Rule 494) are, unless the context specifically indicates otherwise, also applicable to investment companies and business development companies. See Rule 400.

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