Assertion: fund | /r/CapableOf | commence operation
Facets:
Source sentences:
text: You further state that the underwriting syndicate dissolves after the fund shares are sold to the public and the fund commences operations, which is typically three days after the effective date of the fund's registration statement.
text: Once the registration statement is declared effective, the syndicate members resell their shares to investors and the fund commences operations.
text: In our view, it is unnecessary for closed-end funds to comply with Rule 38a-1 with respect to their syndicate members because closed-end fund syndicate members do not have an ongoing relationship with the fund after its shares are sold to investors and the fund commences operations.