First Trust Intermediate Duration Preferred & Income Fund rescinds control share by-law

First Trust Intermediate Duration Preferred & Income Fund

Board rescinded Article XII control share provisions from Amended and Restated By-Laws effective June 22, 2023.
Old by-law required non-interested shareholder approval for voting rights on shares acquired in a Control Share Acquisition.
Rescission eliminates all prior and future limitations on voting rights for such share purchases.
Other First Trust closed-end funds also rescinded similar control share by-laws.
Amended By-Laws filed as Exhibit 3.1 with the SEC on Form 8-K.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

First Trust Intermediate Duration Preferred & Income Fund: Amended and restated bylaws to rescind Article XII control share provisions effective immediately (effective 2023-06-22).

Change: bylaw amendment
Effective: 2023-06-22

Exact text from the filing

On June 22, 2023, the Board of Trustees of First Trust Intermediate Duration Preferred & Income Fund amended and restated its existing Amended and Restated By-Laws (and as so amended and restated, the “By-Laws”), effective immediately. The By-Laws were revised to rescind Article XII and its accompanying control share provisions, along with other conforming amendments.

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First Trust Intermediate Duration Preferred & Income Fund filing history →

Source: SEC EDGAR

accession 0001445546-23-004075

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