[Federal Register Volume 59, Number 191 (Tuesday, October 4, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-24520]


[[Page Unknown]]

[Federal Register: October 4, 1994]


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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 20588; 811-7112]

 

Nuveen Select Maturities Municipal Fund 2; Notice of Application

September 28, 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: Nuveen Select Maturities Municipal Fund 2.

RELEVANT ACT SECTION: Order requested under Section 8(f).

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

FILING DATE: The application was filed on February 16, 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 October 24, 
1994, and should be accompanied by proof of service on the 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 Fifth Street, N.W., Washington, D.C. 
20549. Applicant, 333 West Wacker Drive, Chicago, Illinois 60606-1286.

FOR FURTHER INFORMATION CONTACT: Sarah A. Wagman, Law Clerk, at (202) 
942-0654, or Barry D. Miller, Senior Special Counsel, at (202) 942-0564 
(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 from 
the SEC's Public Reference Branch.

Applicant's Representations

    1. Applicant is registered as a closed-end, diversified management 
-investment company organized as a Massachusetts business trust. On 
August 21, 1992, applicant filed a registration statement on Form N-2 
under section 8(b) of the Act and under the Securities Act of 1933. The 
registration statement became effective on October 23, 1992, and the 
public offering of applicant's shares commenced soon thereafter.
    2. On March 18, 1993, applicant's board of trustees approved an 
agreement and plan of reorganization and liquidation providing for the 
transfer of substantially all of the assets of applicant to Nuveen 
Select Maturities Municipal Fund, a closed-end, diversified management 
investment company organized as a Massachusetts business trust. In 
exchange, the agreement provided for the issuance of shares of Nuveen 
Select Maturities Municipal Fund and the assumption by Nuveen Select 
Maturities Municipal Fund of substantially all of applicant's 
liabilities. In accordance with Rule 17a-8, the trustees of applicant 
determined that the reorganization was in the best interests of 
applicant and that the interests of applicant's shareholders would not 
be diluted as a result.\1\
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    \1\Rule 17a-8 provides relief from the affiliated transaction 
prohibition of Section 17(a) of the Act for a merger of investment 
companies that may be affiliated persons of each other solely by 
reason of having a common investment adviser, common directors, and/
or common officers.
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    3. A registration statement on Form N-14 was filed with the SEC on 
April 30, 1993, and the proxy statement/prospectus contained therein 
was furnished to applicant's shareholders. On July 28, 1993, at 
applicant's annual shareholder meeting, shareholders of a majority of 
the outstanding voting shares of applicant approved the agreement and 
plan of reorganization and liquidation.
    4. On July 28, 1993, the effective date of reorganization, 
applicant had 4,490,556 shares outstanding, with a net asset value per 
share of $11.68. On that date, Nuveen Select Maturities Municipal Fund 
distributed to applicant's shareholders, in exchange for their shares, 
shares of Nuveen Select Maturities Municipal Fund (or cash in lieu of 
fractional shares) of aggregate net asset value equal to the aggregate 
net asset value of their respective interests in applicant.
    5. The expenses attributable to the acquisition of applicant by 
Nuveen Select Maturities Municipal Fund, including SEC registration 
fees, printing, accounting, and legal expenses, amounted to $155,211. 
These expenses were allocated between applicant and Nuveen Select 
Maturities Municipal Fund pro rata in proportion to their respective 
assets, except that Nuveen Select Maturities Municipal Fund paid all 
SEC registration fees.
    6. Applicant has no remaining assets, outstanding debts, or 
liabilities. Applicant is not a party to any litigation or 
administrative proceeding. Applicant has no shareholders, and is not 
now engaged, nor does it propose to engage in any business activities 
other than those necessary for the winding-up of its affairs.
    7. Applicant intends to file a certificate of dissolution in 
accordance with the laws of the Commonwealth of Massachusetts.

    For the SEC, by the Division of Investment Management, under 
delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-24520 Filed 10-3-94; 8:45 am]
BILLING CODE 8010-01-M