Sec. 114.5. Limitations

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The superintendent's examination, supervision, regulation, and enforcement authority over investment company holding companies and their subsidiaries as provided in this Part is limited to those cases in which the department needs to provide equivalent supervision for a specific financial conglomerate under the Financial Conglomerates Directive. The provisions of Banking Law, article XIII governing voluntary and involuntary liquidations of banking organizations shall not be applicable to investment company holding companies, although they are applicable to investment companies.

                    
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