#aae? ,,congress  #b;d ,session  ,h4 ,r4
 #dbgi  ,,an ,,act  ,to direct !        
,securities & ,ex*ange ,commission to   
revise any rules necess>y to enable     
clos$-end companies to use ! securities 
(f]+ & proxy rules t are available to   
o!r issu]s ( securities4  #a4 ,%ort     
title ,?is ,act may be cit$ z ! ,exp&+  
,inve/m5t ,opportunities ,act4  #b4     
,p>ity = clos$-end companies reg>d+ (f]+
 & proxy rules  7a7 ,revision to rules  
,n lat] ?an ! end ( ! #ahj p]iod beg9n+ 
on ! date ( enactm5t ( ?is ,act1 !      
,securities & ,ex*ange ,commission %all 
propose &1 n lat] ?an #a ye> aft] ! date
 ( enactm5t ( ?is ,act1 ! ,securities & 
,ex*ange ,commission %all f9alize any   
rules1 z appropriate1 to all[ any       
clos$-end company1 z def9$ 9 section    
#e7;a77#b7 ( ! ,inve/m5t ,company ,act (
 #aidj 7#ae ,u4,s4,c4 #hj;a-#e71 t is   
regi/]$ z an inve/m5t company "u su*    
,act1 & is li/$ on a national securities
 ex*ange or t makes p]iodic repur*ase   
(f]s pursuant to section #bgj4bc;c-#c ( 

title #ag1 ,code ( ,f$]al ,regulations1 
to use ! securities (f]+ & proxy rules1 
subject to conditions ! ,commission     
det]m9es appropriate1 t are available to
 o!r issu]s t are requir$ to file       
reports "u section #ac or section       
#ae7;d7 ( ! ,securities ,ex*ange ,act ( 
#aicd 7#ae ,u4,s4,c4 #ghm2 #gho7d774    
,any action t ! ,commission takes       
pursuant to ?is subsection %all consid] 
! availability ( in=mation to inve/ors1 
includ+ :at disclosures con/itute       
adequate in=mation to be designat$ z a  
well-kn[n season$ issu]4  7b7 ,treatm5t 
if revisions n complet$ 9 a timely mann]
 ,if ! ,commission fails to complete !  
revisions requir$ by subsection 7a7 by !
 "t requir$ by su* subsection1 any      
regi/]$ clos$-end company t is li/$ on a
 national securities ex*ange or t makes 
p]iodic repur*ase (f]s pursuant to      
section #bgj4bc;c-#c ( title #ag1 ,code 
( ,f$]al ,regulations1 %all be deem$ to 
be an eligible issu] "u ! f9al rule ( ! 
,commission titl$ ,securities ,(f]+     

,re=m 7#gj ,f$4 ,reg4 #ddgbb2 publi%$   
,augu/ #c1 #bjje74  7c7 ,rules (        
con/ruction  7#a7 ,no effect on ,rule   
#dhb ,no?+ 9 ?is section or ! am5dm5ts  
made by ?is section %all be con/ru$ to  
impair or limit 9 any way a regi/]$     
clos$-end company f us+ section #bcj4dhb
 ( title #ag1 ,code ( ,f$]al            
,regulations1 to di/ribute sales        
mat]ial4  7#b7 ,ref]5ces ,any ref]5ce 9 
?is section to a section ( title #ag1   
,code ( ,f$]al ,regulations1 or to any  
=m or s*$ule means su* rule1 section1   
=m1 or s*$ule1 or any successor to any  
su* rule1 section1 =m1 or s*$ule4       
,pass$ ! ,h\se ( ,repres5tatives ,janu>y
 #ag1 #bjah4;,cl]k4