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Subject: which are exempted or excepted from treatment as an investment company law "Investment Securities" includes all Securities except (A) Government Securities, (B) Securities issued by companies the only shareholders in which are employees and former employees of a company and its subsidiaries, members of the families of such persons and the company and its subsidiaries and (C) Securities issued by Majority-Owned Subsidiaries of the Company which are not engaged and do not propose to be engaged in activities within the scope of clause (i), (ii) or (iii) of paragraph 2 of this Certificate or which are exempted or excepted from treatment as an investment company by statute, rule or governmental order (other than Exempt Funds).или на которые не распространяются требования, установленные в отношении инвестиционных компаний законом, нормативным актом или правительственным распоряжением ...?
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