Company: OXLCZ
Filing Date: 2025-10-14
Form Type: 40-APP/A
Source: 0001213900-25-098756
Chunk: 7

Company: Oxford Lane Capital Corp.
Filing Date: 2025-10-14
Form: 40-APP/A
Chunk 7
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amended (the “Advisers Act”). OXSQ Adviser serves as the investment adviser to OXSQ and manages its portfolio
in accordance with OXSQ’s objectives and strategies.

OXLC Adviser is a Connecticut
limited liability company and is registered as an investment adviser with the Commission under the Advisers Act. OXLC Adviser serves as
the investment adviser to OXLC and manages its portfolio in accordance with OXLC’s objectives and strategies.

OXPK Adviser is a Connecticut
limited liability company and is registered as an investment adviser with the Commission under the Advisers Act. OXPK Adviser serves as
the investment adviser to OXPK and manages its portfolio in accordance with OXPK’s objectives and strategies.

Oxford Gate Management is
a Delaware limited liability company and is an investment adviser registered with the Commission under the Advisers Act. Oxford Gate Management
serves as the investment adviser to the Existing Affiliated Funds and manages their portfolios in accordance with each Existing Affiliated
Fund’s investment objectives and strategies.

| III. | ORDER REQUESTED |

The Applicants request an Order of the Commission under Sections 17(d) and 57(i) of the 1940 Act and Rule 17d-1 thereunder to permit, subject to the terms and conditions set forth below in this Application (the “ Conditions”), each Regulated Fund to be able to participate with one or more Affiliated Entities in Co-Investment Transactions otherwise prohibited by Sections 17(d) and
57(a)(4) of the 1940 Act and Rule 17d-1 thereunder.

| A. | Applicable Law |

Section 17(d), in relevant part, prohibits an
affiliated person, or an affiliated person of such affiliated person, of a registered investment company, acting as principal, from effecting
any transaction in which the registered investment company is “a joint or a joint and several participant with such person”
in contravention of such rules as the SEC may prescribe “for the purpose of limiting or preventing participation by such [fund]
on a basis different from or less advantageous than that of such other participant.”

| 10 | In the future, an Affiliated Fund may register as a closed-end management investment company or elect                                     
 to be regulated as a business development company under the 1940 Act and, if so, will be considered a Regulated Fund for purposes of this 
 application.                                                                                                                              |

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Rule 17