An important feature of the '40 Act exempts any company that qualifies as a "regulated investment company" (RIC) from taxation on its gains, either from income or capital appreciation, as previously indicated. How does a fund qualify as a RIC?

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The Answer of An important feature of the '40 Act exempts any company that qualifies as a "regulated investment company" (RIC) from taxation on its gains, either from income or capital appreciation, as previously indicated. How does a fund qualify as a RIC?

An Important Feature of the '40 Act Exempts Any Company