[Federal Register Volume 59, Number 216 (Wednesday, November 9, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-27699]


[[Page Unknown]]

[Federal Register: November 9, 1994]


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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 20680; 811-903]

 

Jupiter National, Inc.; Notice of Proposed Deregistration

November 2, 1994.
AGENCY: Securities and Exchange Commission (``SEC'').

ACTION: Notice of Proposed Deregistration under the Investment Company 
Act of 1940 (the ``Act'').

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Relevant Act Sections: Sections 8(f) and 54(a).

Summary of Notice: The SEC proposes to declare by order on its own 
motion that Jupiter National, Inc. (``Jupiter'') ceased to be an 
investment company when it elected on February 6, 1987 to be regulated 
as a business development company (``BDC'') pursuant to section 54(a) 
of the Act.

Hearing or Notification of Hearing: An order of deregistration will be 
issued unless the SEC orders a hearing. Interested persons may request 
a hearing by writing to the SEC's Secretary. Hearing requests should be 
received by the SEC by 5:30 p.m. on November 28, 1994. 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.

For Further Information Contact: Marianne H. Khawly, Law Clerk, at 
(202) 942-0562, or C. David Messman, Branch Chief, at (202) 942-0564 
(Division of Investment Management, Office of Investment Company 
Regulation).

Statement of Facts

    1. Jupiter is a registered, closed-end, non-diversified, management 
investment company. On September 2, 1959, Jupiter filed a Notification 
of Registration on form N-8A pursuant to section 8(a) of the Act and a 
registration statement on form N-1A under section 8(b) of the Act. On 
December 20, 1968, Jupiter filed a registration statement under the 
Securities Act of 1933. The registration statement became effective on 
February 14, 1969.
    2. Jupiter is organized as a corporation under the laws of the 
state of Delaware and has its principal place of business in the 
District of Columbia.
    3. Section 54(a) of the Act provides that any company that 
satisfies the definition of a BDC under section 2(a)(48)(A) and (B) may 
elect to be subject to the provisions of section 55 through 65 and be 
regulated as a BDC by filing with the SEC a notification of such 
election, if such company: (i) has a class of its equity securities 
registered under section 12 of the Securities Exchange Act of 1934 (the 
``Exchange Act''); or (ii) has filed a registration statement pursuant 
to section 12 of the Exchange Act for a class of its equity securities.
    4. On October 9, 1981, Jupiter elected BDC status by filing a form 
N-54A. On December 23, 1983, Jupiter withdrew its election of BDC 
status by filing a form N-54C. On February 6, 1987 Jupiter again 
elected BDC status and filed a form N-54A.\1\
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    \1\On January 7, 1988, due to a reorganization from the District 
of Columbia to Delaware, Jupiter filed a form N-54C to withdraw its 
election of BDC status as a District of Columbia corporation and 
simultaneously filed a form N-54A to elect BDC status as a Delaware 
corporation.
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    5. Section 8(f) of the Act permits the SEC to deregister a 
registered investment company on its own motion if it finds that the 
company has ceased to be an investment company.
    6. Section 8 of the Act, requiring registration of investment 
companies, does not apply to BDCs. After an existing registered 
investment company has filed an election to be regulated as a BDC, the 
SEC on its own motion will declare by order under section 8(f) that the 
company's registration under the Act has ceased to be in effect. Such 
an order will be made effective retroactively, as of the time the SEC 
received the company's election.\2\
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    \2\Investment Company Act Release No. 11703 (Mar. 26, 1981).
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    7. The SEC finds that Jupiter ceased to be a registered investment 
company on February 6, 1987.

    For the SEC, by the Division of Investment Management, under 
delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 94-27699 Filed 11-8-94; 8:45 am]
BILLING CODE 8010-01-M