For the purpose of the 1940 Investment Company Act
2(a)51-1(b)(1), can a potential investor
count his non-controlling interest in a private 
company which has equity of less than $50 million ?  
Same result if the interest is controlling?

I have read the document thoroughly and the answers appear
to be yes, no. I have also searched the web for commentary
but found nothing exactly on point.  I am looking for
someone knowledgeable in securities law who would, ideally,
know the answer off the top of their head and give
me the answer (with a rationale).  I don't need to
have the text of the rule explained.

Also, I need the answer by 5:00 pm Thursday 11:30 pm PST!

---

Clarification of Question by andydenis-ga on 06 Feb 2003 00:40 PST

I meant 11:30 pm not 5:00 pm !