Rules and Regulations
promulgated
under the
Investment Company Act of 1940
Rule 23c-2 -- Call and Redemption of Securities Issued by Registered Closed-End Companies
Notwithstanding the provisions of Rule
23c-1, a registered closed-end investment company may call or redeem any securities
of which it is the issuer, in accordance with the terms of such securities or the
charter, indenture or other instrument pursuant to which such securities were issued:
Provided, That, if less than all the outstanding securities of a class or
series are to be called or redeemed the call or redemption shall be made by lot,
on a pro rata basis, or in such other manner as will not discriminate unfairly against
any holder of the securities of such class or series.
A registered closed-end investment company which proposes
to call or redeem any securities of which it is the issuer shall file with the Commission
notice of its intention to call or redeem such securities at least 30 days prior
to the date set for the call or redemption; Provided, however, That if notice
of the call or the redemption is required to be published in a newspaper or otherwise,
notice shall be given to the Commission at least 10 days in advance of the date of
publication. Such notice shall be filed in triplicate and shall include:
the title of the class of securities to be called or redeemed,
the date on which the securities are to be called or redeemed,
the applicable provisions of the governing instrument pursuant
to which the securities are to be called or redeemed and,
if less than all the outstanding securities of a class or series
are to be called or redeemed, the principal amount or number of shares and the basis
upon which the securities to be called or redeemed are to be selected.
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