Reclassification

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Reclassification

In mutual funds, the act or process of changing one type of fund into another type. For example, one may reclassify a front-load fund to a back-load fund or vice versa. One of the most common types of reclassification occurs when a load fund, after a certain number of years, becomes a no-load fund. This happens because the load generally only exists for a certain number of years. The IRS does not consider reclassification to be a taxable event, even if it results in more income or capital gains.
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In response to Lockyer's effort to reclassify the FMBs, Assemblyman Greg Aghazarian (R-Stockton) deleted the contents of a bill he had written to allow brewers to host large-scale beer tastings, and inserted new language to protect the tax status of FMBs.
Union members marched outside the Labor Department on June 30 to protest the plan to reclassify millions of workers to make them ineligible for overtime pay.
Home Secretary David Blunkett will shortly ask Parliament to reclassify cannabis as a Class C drug, and possession of small amounts will become a matter of cautions and confiscation rather than prosecution.
Fish and Wildlife Service proposed to federally reclassify specified gray wolf populations across 30 states.
The town never disputed the commissioner's authority to reclassify segments of a highway.
Bank of Japan (BOJ) Governor Masaru Hayami on Thursday urged Japanese banks to carefully examine the health of debtor companies and reclassify loan claims if necessary to accelerate disposal of bad loans.
The Service's Region 3 website contains a "Gray Wolf Recovery" webpage with information on the July 13, 2000, proposal to reclassify most wolf populations in the lower 48 states as threatened: http://midwest.fws.gov/wolf
The International Agency for Research on Cancer (IARC) in Lyon, France, part of the World Health Organization, recently decided to reclassify DEHP plasticizer (also known as DOP) as a Group 3 agent--"not classifiable as to carcinogenicity in humans." This is the lowest level in IARC's classification scale.
Singer, along with scientists from Australia and New Zealand, want to reclassify the great apes to the same species group as humans because of DNA similarities.
Clark and other business owners have been trying to persuade SBA Director Philip Lader to take the Regulatory Flexibility Act and reclassify the "small" definition, adding a "micro" category, which would encompass firms with less than $10 million in revenues and 50 employees.
These flaws and inaccurate scientific conclusions should not be used to reclassify MOCA, the report states.