{"data":{"id":"us/17-cfr-270.3c-6","jurisdiction":"us","citation":"17 CFR 270.3c-6","heading":"c-6 Certain transfers of interests in section 3(c)(1) and section 3(c)(7) funds.","body":"(a) As used in this section:\n(1) The term Donee means a person who acquires a security of a Covered Company (or a security or other interest in a company referred to in paragraph (b)(3) of this section) as a gift or bequest or pursuant to an agreement relating to a legal separation or divorce.\n(2) The term Section 3(c)(1) Company means a company that would be an investment company but for the exclusion provided by section 3(c)(1) of the Act [15 U.S.C. 80a-3(c)(1)].\n(3) The term Section 3(c)(7) Company means a company that would be an investment company but for the exclusion provided by section 3(c)(7) of the Act [15 U.S.C. 80a-3(c)(7)].\n(4) The term Transferee means a Section 3(c)(1) Transferee or a Qualified Purchaser Transferee, in each case as defined in paragraph (b) of this section.\n(5) The term Transferor means a Section 3(c)(1) Transferor or a Qualified Purchaser Transferor, in each case as defined in paragraph (b) of this section.\n(b) Beneficial ownership by any person (“Section 3(c)(1) Transferee”) who acquires securities or interests in securities of a Section 3(c)(1) Company from a person other than the Section 3(c)(1) Company shall be deemed to be beneficial ownership by the person from whom such transfer was made (“Section 3(c)(1) Transferor”), and securities of a Section 3(c)(7) Company that are owned by persons who received the securities from a qualified purchaser other than the Section 3(c)(7) Company (“Qualified Purchaser Transferor”) or a person deemed to be a qualified purchaser by this section shall be deemed to be acquired by a qualified purchaser (“Qualified Purchaser Transferee”), provided that the Transferee is:\n(1) The estate of the Transferor;\n(2) A Donee; or\n(3) A company established by the Transferor exclusively for the benefit of (or owned exclusively by) the Transferor and the persons specified in paragraphs (b)(1) and (b)(2) of this section.","path":["Title 17—Commodity and Securities Exchanges","CHAPTER II—SECURITIES AND EXCHANGE COMMISSION","PART 270—RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"6bff2240c681d1c6650f2e02c950aee3305875baaf1af5fd04019e6c4e215890","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-270.3c-5","next":"us/17-cfr-270.3c-7"},"notice":"GroundRules: Original legal text. Not legal advice."}