[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR210.6-02]

[Page 269]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 210--FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS,
 
Sec. 210.6-02  Definition of certain terms.

    The following terms shall have the meaning indicated in this rule 
unless the context otherwise requires. (Also see Sec. 210.1-02 of this 
part.)
    (a) Affiliate. The term affiliate means an affiliated person as 
defined in section 2(a)(3) of the Investment Company Act of 1940 unless 
otherwise indicated. The term control has the meaning in section 2(a)(9) 
of that Act.
    (b) Value. As used in Secs. 210.6-01 to 210.6-10, the term value 
shall have the meaning given in section 2(a)(41)(B) of the Investment 
Company Act of 1940.
    (c) Balance sheets; statements of net assets. As used in 
Secs. 210.6-01 to 210.6-10, the term balance sheets shall include 
statements of assets and liabilities as well as statements of net assets 
unless the context clearly indicates the contrary.
    (d) Qualified assets. (1) For companies issuing face-amount 
certificates subsequent to December 31, 1940 under the provisions of 
section 28 of the Investment Company Act of 1940, the term qualified 
assets means qualified investments as that term is defined in section 
28(b) of the Act. A statement to that effect shall be made in the 
balance sheet.
    (2) For other companies, the term qualified assets means cash and 
investments which such companies do maintain or are required, by 
applicable governing legal instruments, to maintain in respect of 
outstanding face-amount certificates.
    (3) Loans to certificate holders may be included as qualified assets 
in an amount not in excess of certificate reserves carried on the books 
of account in respect of each individual certificate upon which the 
loans were made.