Rules and Regulations
promulgated
under the
Investment Company Act of 1940
Rule 26a-2 -- Exemptions from Certain Provisions of Sections 26 and 27 for Registered Separate Accounts and Others Regarding Custodianship of and Deduction of Certain Fees and Charges from the Assets of Such Accounts
A registered separate account, and any depositor of or principal underwriter for
such account, shall be exempt from the provisions of Sections 26(a)
and 27(c)(2) of the Act with respect to
any variable annuity contract participating in such account to the extent necessary:
To permit the insurance company that sponsors such
account to hold the assets of the separate account and to hold such assets not pursuant
to a trust indenture or other such instrument;
To permit any separate account registered under the
Act as a unit investment trust to hold the securities of any underlying portfolio
companies in uncertificated form;
To permit any separate account registered under the
Act as a management investment company to hold its assets in any manner permitted
by section 17(f) of the Act or any rules thereunder;
and
To permit the deduction from the assets of the separate
account of amounts for premium taxes imposed by any State or other governmental entity
and, if the separate account is registered under the Act as an open-end management
investment company, an investment advisory fee.
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