[Federal Register Volume 59, Number 60 (Tuesday, March 29, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: X94-10329]


[[Page Unknown]]

[Federal Register: March 29, 1994]


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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-20154; 811-2801]

 

AIM Convertible Securities, Inc.; Application

March 22, 1994.
AGENCY: Securities and Exchange Commission (``SEC'').

ACTION: Notice of application for deregistration under the Investment 
Company Act of 1940 (the ``Act'').

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APPLICANT: AIM Convertible Securities, Inc.

RELEVANT ACT SECTION: Section 8(f).

SUMMARY OF APPLICATION: Applicant seeks an order declaring that it has 
ceased to be an investment company.

FILING DATE: The application was filed on March 7, 1994.

HEARING OR NOTIFICATION OF HEARING: An order granting the application 
will be issued unless the SEC orders a hearing. Interested persons may 
request a hearing by writing to the SEC's Secretary and serving 
applicant with a copy of the request, personally or by mail. Hearing 
requests should be received by the SEC by 5:30 p.m. on April 18, 1994 
and should be accompanied by proof of service on applicant, in the form 
of an affidavit or, for lawyers, a certificate of service. Hearing 
requests should state the nature of the writer's interest, the reason 
for the request, and the issues contested. Persons may request 
notification of a hearing by writing to the SEC's Secretary.

ADDRESSES: Secretary, SEC, 450 5th Street, NW., Washington, DC 20549. 
Applicant, 11 Greenway Plaza, suite 1919, Houston, Texas 77046.

FOR FURTHER INFORMATION CONTACT: Deepak T. Pai, Staff Attorney, at 
(202) 272-3809, or Robert A. Robertson, Branch Chief, at (202) 272-3030 
(Division of Investment Management, Office of Investment Company 
Regulation).

SUPPLEMENTARY INFORMATION: The following is a summary of the 
application. The complete application may be obtained for a fee at the 
SEC's Public Reference Branch.

Applicant's Representations

    1. Applicant is an open-end management investment company that was 
organized as a business trust under the laws of Maryland. On January 
19, 1978, applicant registered under the Act as an investment company 
and filed a registration statement to register its shares under the 
Securities Act of 1933. The registration statement was declared 
effective on March 6, 1978, and applicant's initial public offering 
commenced on March 30, 1978.
    2. Applicant's board of directors approved an agreement and plan of 
reorganization (the ``Plan'') at meetings of the board held on July 19, 
1993 and September 11, 1993. The purpose of the Plan was to reorganize 
applicant from a stand-alone investment company incorporated in 
Maryland to a portfolio of a multiple portfolio investment company 
organized as a Delaware business trust, which management believes in 
the long run will result in more efficient operation. In accordance 
with rule 17a-8 under the Act, applicant's board of directors 
determined that the sale of applicant's assets to the AIM Balanced Fund 
Portfolio (the ``Balanced Portfolio'') of AIM Funds Group, was in the 
best interests of applicant, and that the interests of applicant's 
existing shareholders would not be diluted as a result.
    3. On September 1, 1993, applicant mailed proxy materials to its 
shareholders. At a special meeting held on September 27, 1993, 
applicant's shareholders approved the reorganization.
    4. Pursuant to the Plan, applicant transferred all of its assets 
and liabilities to the Balanced Portfolio in exchange for Class A 
shares of the Balanced Portfolio with an aggregate net asset value 
equal to the aggregate net assets of applicant. The Class A shares then 
were issued to the shareholders of applicant.
    5. On October 15, 1993, applicant filed articles of transfer with 
the State of Maryland. Applicant is in the process of preparing 
articles of dissolution to be filed with the State of Maryland.
    6. All expenses incurred in connection with the transaction have 
been assumed and paid by applicant. No brokerage commissions were paid 
in connection with the transaction.
    7. Applicant has no assets and no debts remaining, and is not a 
party to any litigation or administration proceeding. Applicant has no 
securityholders at the time of filing of the application.
    8. Applicant is not now engaged, nor does it propose to engage, in 
any business activity other than that necessary to wind-up its affairs.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR. Doc. 94-7285 Filed 3-28-94; 8:45 am]
BILLING CODE 8010-01-M