#aaeth ,,congress  #ast ,session  ,s4   
#dhd  ,,an ,,act  ,to amend the         
,investment ,company ,act of #aidj to   
terminate an exemption for companies    
located in ,puerto ,rico1 the ,virgin   
,islands1 and any other possession of   
the ,united ,states4  #a4 ,short title  
,this ,act may be cited as the ,u4,s4   
,territories ,investor ,protection ,act 
of #bjag4  #b4 ,termination of exemption
  7a7 ,in general ,section #f7;a7 of the
 ,investment ,company ,act of #aidj 7#ae
 ,u4,s4,c4 #hj;a-#f7;a77 is amended--   
7#a7 by striking paragraph 7#a72 and    
7#b7 by redesignating paragraphs 7#b7   
through 7#e7 as paragraphs 7#a7 through 
7#d71 respectively4  7b7 ,effective date
 and safe harbor  7#a7 ,effective date  
,except as provided in paragraph 7#b71  
the amendment made by subsection 7a7    
shall take effect on the date of        
enactment of this ,act4  7#b7 ,safe     
harbor ,with respect to a company that  
is exempt under section #f7;a77#a7 of   
the ,investment ,company ,act of #aidj  

7#ae ,u4,s4,c4 #hj;a-#f7;a77#a77 on the 
day before the date of enactment of this
 ,act1 the amendment made by subsection 
7a7 shall take effect on the date that  
is #c years after the date of enactment 
of this ,act4  7#c7 ,extension of safe  
harbor ,the ,securities and ,exchange   
,commission1 by rule or regulation upon 
its own motion1 or by order upon        
application1 may conditionally or       
unconditionally1 under section #f7;c7 of
 the ,investment ,company ,act of #aidj 
7#ae ,u4,s4,c4 #hj;a-#f7;c771 further   
delay the effective date for a company  
described in paragraph 7#b7 for a       
maximum of #c years following the       
initial #c-year period if1 before the   
end of the initial #c-year period1 the  
,commission determines that such a rule1
 regulation1 motion1 or order is        
necessary or appropriate in the public  
interest and for the protection of      
investors4  ,passed the ,senate         
,september #aa1 #bjag4,secretary