Rule 19b-1 (17 CFR 270.19b-1) under the Investment Company Act of 1940 - Frequency of Distribution of Capital Gains

Section 19(b) of the Investment Company Act of 1940 authorizes the Commission to regulate registered investment company (“fund”) distributions of long-term capital gains made more frequently than once every twelve months. Accordingly, rule 19b-1(e) permits a fund to apply to the Commission for permission to distribute long-term capital gains that would otherwise be prohibited by the rule if the fund did not foresee the circumstances that created the need for the distribution. The application must set forth the pertinent facts and explain the circumstances that justify the distribution. An application that meets those requirements is deemed to be granted unless the Commission denies the request within 15 days after the Commission receives the application. Rule 19b-1(e) allows a fund, in unforeseen circumstances, to request timely authorization to make a distribution that would not otherwise be permitted by the rule. The Commission uses the information required by paragraph (e) to determine whether a request should be granted under this paragraph.

The latest form for Rule 19b-1 (17 CFR 270.19b-1) under the Investment Company Act of 1940 - Frequency of Distribution of Capital Gains expires 2029-06-30 and can be found here.