[Federal Register Volume 60, Number 47 (Friday, March 10, 1995)]
[Notices]
[Page 13191]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-5862]



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SECURITIES AND EXCHANGE COMMISSION


Forms Under Review by Office of Management and Budget

    Acting Agency Clearance Officer: David T. Copenhafer (202) 942-
8800.
    Upon Written Request, Copy Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, 450 Fifth 
Street, NW. Washington, DC 20549.
    Amendments:
    Rule 34b-1--File No. 270-305.
    Form N-1A--File No. 270-21.
    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1980, 44 U.S.C. 3501, the Securities and Exchange Commission 
(``Commission'') has submitted for OMB approval an amendment to the 
approval previously granted by the OMB for amendments to rule 34b-1 
under the Investment Company Act of 1940 (``Investment Company Act''), 
15 U.S.C. 80a, and to Form N-1A under the Investment Company Act and 
the Securities Act of 1933, 15 U.S.C. 77a. The purpose of the amendment 
is to reflect (i) the reduced number of burden hours associated with 
the amendments to Form N-1A, and (ii) that the Commission has 
determined not to adopt the proposed amendments to rule 34b-1.
    In December 1993, the Commission proposed for public comment new 
rule 18f-3 and amendments to certain other rules and forms, including 
rule 34b-1 and Form N-1A. In response to comments received on the 
proposal, the Commission determined to revise certain disclosure 
requirements that were proposed as amendments to Form N-1A and not to 
adopt rule 34b-1.
    Form N-1A is the registration statement used by open-end management 
investment companies other than small business investment companies and 
insurance company separate accounts. The Form as amended will require 
substantially less disclosure in the prospectuses of multiple class and 
master-feeder funds than under the original proposal. The average 
additional burden to registrants imposed by the amendments to Form N-1A 
as amended is estimated to be approximately 25 minutes per multiple 
class or master-feeder fund registrant. The amendment also notes that 
the number of registrants using Form N-1A has increased to 
approximately 3,000. Thus, the total annual burden for Form N-1A for 
all registrants would be 3,188,364 hours.
    Rule 34b-1 governs the use of performance information in investment 
company sales literature. In connection with the proposal, it was 
estimated that the proposed amendment to rule 34b-1 would impose an 
average additional burden of 431 hours per respondent each year. 
Because the Commission has determined not to adopt the proposed 
amendments, however, this additional burden will not be imposed, and 
the estimated total burden per respondent will be 3,444 hours.
    Direct general comments to the Clearance Officer for the Securities 
and Exchange Commission at the address below. Direct any comments 
concerning the accuracy of the estimated average burden hours for 
compliance with SEC rules and forms to David T. Copenhafer, Acting 
Director, Office of Information Technology, Securities and Exchange 
Commission, 450 Fifth Street, NW., Washington, DC 20549, and SEC 
Clearance Officer, Office of Management and Budget, Paperwork Reduction 
Project (3235-0307 for Form N-1A and 3235-0346 for rule 34b-1), Room 
3208, New Executive Office Building, Washington, DC 20543.

    Dated: February 27, 1995.
Jonathan G. Katz,
Secretary.
[FR Doc. 95-5862 Filed 3-9-95; 8:45 am]
BILLING CODE 6717-01-M