The exclusion clause is rewritten to reach both limits and more than one company
What the document says“(B) in clause (i)-- (i) by striking "(i) In calculating" and inserting the following: "(i) In general.--Except as provided in clause (iii), in calculating"; (ii) by inserting "or companies" after "of a company"; (iii) by striking "subparagraph (A)" and inserting "subparagraphs (A) and (B)"; (iv) by striking "equity"”
Amends clause (i) of section 303(b)(2)(C) of the Small Business Investment Act of 1958. It heads the clause "In general", makes it subject to clause (iii), inserts "or companies" after "of a company", replaces the reference to "subparagraph (A)" with one to "subparagraphs (A) and (B)", and strikes the word "equity".
What the document actually says“(B) in clause (i)-- (i) by striking "(i) In calculating" and inserting the following: "(i) In general.--Except as provided in clause (iii), in calculating"; (ii) by inserting "or companies" after "of a company"; (iii) by striking "subparagraph (A)" and inserting "subparagraphs (A) and (B)"; (iv) by striking "equity"”
The words of an older clause change. It now points to two limits, not one. It now covers more than one company. The word equity comes out.
The older clause is not on this site. So its full text is not shown here. This part lists the words to take out and the words to put in.
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