17 CFR § 270.2a51-3 - Certain companies as qualified purchasers.

---
identifier: "/us/cfr/t17/s270.2a51-3"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "17 CFR § 270.2a51-3 - Certain companies as qualified purchasers."
title_number: 17
title_name: "Commodity and Securities Exchanges"
section_number: "270.2a51-3"
section_name: "Certain companies as qualified purchasers."
chapter_name: "SECURITIES AND EXCHANGE COMMISSION"
part_number: "270"
part_name: "RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "15 U.S.C. 80a-1  80a-34(d), 80a-37, 80a-39, 1681w(a)(1), 6801-6809, 6825, and Pub. L. 111-203, sec. 939A, 124 Stat. 1376 (2010), unless otherwise noted."
cfr_part: "270"
---


# 270.2a51-3 Certain companies as qualified purchasers.

(a) For purposes of section 2(a)(51)(A) (ii) and (iv) of the Act [15 U.S.C. 80a-2(a)(51)(A) (ii) and (iv)], a company shall not be deemed to be a qualified purchaser if it was formed for the specific purpose of acquiring the securities offered by a company excluded from the definition of investment company by section 3(c)(7) of the Act [15 U.S.C. 80a-3(c)(7)] unless each beneficial owner of the company's securities is a qualified purchaser.

(b) For purposes of section 2(a)(51) of the Act [15 U.S.C. 80a-2(a)(51)], a company may be deemed to be a qualified purchaser if each beneficial owner of the company's securities is a qualified purchaser.

[62 FR 17528, Apr. 9, 1997]