District Of Columbia § 1-336.01 - Definitions.

“Company” means any sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or other entity or business association that exists for the purpose of making profit.

“Direct holdings” in a company means all securities of the company that are held directly by the public fund or in an account or fund in which the public fund owns all shares or interests.

“Government of Iran” means the government of Iran, its instrumentalities, and companies owned or controlled by the government of Iran.

“Inactive business activities” means the mere continued holding or renewal of rights to property previously operated for the purpose of generating revenues but not presently deployed for such purpose.

“Indirect holdings” in a company means all securities of the company that are held in an account or fund, such as a mutual fund, managed by one or more persons not employed by the public fund, in which the public fund owns shares or interests together with other investors not subject to the provisions of this part.

“Iran” means the Islamic Republic of Iran.

“Petroleum resources” means petroleum or natural gas.

“Public fund” means the assets of the District of Columbia Retirement Board.

“Scrutinized business activities” means business activities that have resulted in a company becoming a scrutinized company.

“Scrutinized company” means any company that, with actual knowledge, on or after August 5, 1996, has made an investment of $20 million or more in Iran’s petroleum sector which directly or significantly contributes to the enhancement of Iran’s ability to develop the petroleum resources of Iran.

“Substantial action specific to Iran” means adopting, publicizing, and implementing a formal plan to cease scrutinized business activities within one year and to refrain from any such new business activities.