Rules and Regulations
promulgated
under the
Investment Advisers Act of 1940
Rule 0-5 -- Procedure with Respect to Applications and Other Matters
The procedure hereinbelow set forth will be followed with respect to any proceeding
initiated by the filing of an application, or upon the Commission's own motion,
pursuant to any section of the Act or any rule or regulation thereunder, unless
in the particular case a different procedure is provided:
Notice of the initiation of the proceeding will
be published in the FEDERAL REGISTER and will indicate the earliest date upon
which an order disposing of the matter may be entered. The notice will also
provide that any interested person may, within the period of time specified
therein, submit to the Commission in writing any facts bearing upon the desirability
of a hearing on the matter and may request that a hearing be held, stating
his reasons therefor and the nature of his interest in the matter.
An order disposing of the matter will be issued
as of course following the expiration of the period of time referred to in
paragraph (a) of this section, unless the Commission thereafter orders a hearing
on the matter.
The Commission will order a hearing on the matter,
if it appears that a hearing is necessary or appropriate in the public interest
or for the protection of investors, (1) upon the request of any interested
person or (2) upon its own motion.
Definition of application. For purposes
of this rule, an "application" means any application for an order of the Commission
under the Act other than an application for registration as an investment
adviser.
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