Definition of Eligible Portfolio Company Under the Investment Company Act of 1940

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The Commission is reproposing for comment an additional definition of the term "eligible portfolio company" under the Investment Company Act of 1940 ("Investment Company Act" or "Act"). The reproposed rule is intended to more closely align the definition of eligible portfolio company, and the investment activities of business development companies ("BDCs"), with the purpose that Congress intended. The reproposed rule would expand the definition of eligible portfolio company to include certain companies that list their securities on a national securities exchange ("Exchange").