THE INCOME FUND OF AMERICA, INC.
One Market, Steuart Tower, Suite 1800, San Francisco, California 94105
(415) 421-9360
CODE OF ETHICS
The following Code of Ethics is in effect for the Registrant:
With respect to non-affiliated Directors and all other access persons
to the extent that they are not covered by The Capital Group
Companies, Inc. policies:
1. No Director shall so use his or her position or knowledge
gained therefrom as to create a conflict between his or her
personal interest and that of the Fund.
2. Each non-affiliated Director shall report to the Secretary
of the Fund not later than ten (10) days after the end of each
calendar quarter any transaction in securities which such
Director has effected during the quarter which the Director then
knows to have been effected within fifteen (15) days before or
after a date on which the Fund purchased or sold, or considered
the purchase or sale of, the same security.
3. For purposes of this Code of Ethics, transactions involving
United States Government securities as defined in the Investment
Company Act of 1940, bankers' acceptances, bank certificates of
deposit, commercial paper, or shares of registered open-end
investment companies are exempt from reporting as are
non-volitional transactions such as dividend reinvestment
programs and transactions over which the Director exercises
no control.
* * * *
In addition, the Fund has adopted the following
standards in accordance with the requirements of Form-CSR
adopted by the Securities and Exchange Commission pursuant to
Section 406 of the Sarbanes-Oxley Act of 2002 for the purpose
of deterring wrongdoing and promoting: 1) honest and ethical
conduct, including handling of actual or apparent conflicts of
interest between personal and professional relationships; 2)
full, fair accurate, timely and understandable disclosure in
reports and documents that a fund files with or submits to the
Commission and in other public communications made by the
fund; 3) compliance with applicable governmental laws, rules
and regulations; 4) the prompt internal reporting of
violations of the Code to an appropriate person or persons
identified in the Code; and 5) accountability for adherence to
the Code. These provisions shall apply to the principal
executive officer or chief executive officer and treasurer
("Covered Officers") of the Fund.
1. It is the responsibility of Covered Officers to foster, by their
words and actions, a corporate culture that encourages honest
and ethical conduct, including the ethical resolution of, and
appropriate disclosure of conflicts of interest. Covered
Officers should work to assure a working environment that is
characterized by respect for law and compliance with
applicable rules and regulations.
2. Each Covered Officer must act in an honest and ethical manner
while conducting the affairs of the Fund, including the ethical
handling of actual or apparent conflicts of interest between
personal and professional relationships. Duties of Covered
Officers include:
o Acting with integrity;
o Adhering to a high standard of business ethics;
o Not using personal influence or personal
relationships to improperly influence
investment decisions or financial reporting
whereby the Covered Officer would benefit
personally to the detriment of the Fund;
3. Each Covered Officer should act to promote full, fair,
accurate, timely and understandable disclosure in reports and
documents that the Fund files with or submits to, the
Securities and Exchange Commission and in other public
communications made by the Fund.
o Covered Officers should familiarize themselves with
disclosure requirements applicable to the Fund and
disclosure controls and procedures in place to meet
these requirements.
o Covered Officers must not knowingly misrepresent, or
cause others to misrepresent facts about the Fund to
others, including the Fund's auditors, independent
directors, governmental regulators and self-regulatory
organizations.
4. Any existing or potential violations of this Code should be
reported to The Capital Group Companies' Personal Investing
Committee. The Personal Investing Committee is authorized to
investigate any such violations and report their findings to
the Chairman of the Audit Committee of the Fund. The Chairman
of the Audit Committee may report violations of the Code to the
Board of Directors or other appropriate entity including the
Audit Committee, if he or she believes such a reporting is
appropriate. The Personal Investing Committee may also
determine the appropriate sanction for any violations of this
Code, including removal from office, provided that removal
from office shall only be carried out with the approval of the
Board of Directors.
5. Application of this Code is the responsibility of the Personal
Investing Committee, which shall report periodically to the
Chairman of the Audit Committee of the Fund.
6. Material amendments to these provisions must be ratified by a
majority vote of the Board of Directors. As required by
applicable rules, substantive amendments to the Code must be
filed or appropriately disclosed.