[Federal Register Volume 61, Number 232 (Monday, December 2, 1996)]
[Notices]
[Page 63875]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-30565]
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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-22348; File No. 811-2892]
Boston Mutual Life Variable Account A; Notice of Application
November 22, 1996.
AGENCY: Securities and Exchange Commission (``SEC'' or ``Commission'').
ACTION: Notice of Application for an order under the Investment Company
Act of 1940 (``1940 Act'').
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APPLICANT: Boston Mutual Life Variable Account A (``BML Account'').
RELEVANT 1940 ACT SECTION: Order requested under Section 8(f) of the
1940 Act.
SUMMARY OF APPLICATION: Applicant seeks an order declaring that it has
ceased to be an investment company, as defined by the 1940 Act.
FILING DATE: The application was filed on March 25, 1996, and amended
and restated on July 26, 1996.
HEARING OR NOTIFICATION OF HEARING: An order granting the application
will be issued unless the Commission orders a hearing. Interested
persons may request a hearing by writing to the Secretary of the SEC
and serving Applicant with a copy of the request, in person or by mail.
Hearing requests should be received by the SEC by 5:30 p.m. on December
17, 1996, 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 requestor's interest,
the reason for the request, and the issues contested. Persons may
request notification of a hearing by writing to the Secretary of the
SEC.
ADDRESSES: Secretary, SEC, 450 5th Street, N.W., Washington, D.C.
20549. Applicant, James F. Sarcia, Boston Mutual Life Insurance
Company, 120 Royall Street, Canton, Massachusetts 02021-1028.
FOR FURTHER INFORMATION CONTACT: Edward P. Macdonald, Staff Attorney,
or Patrice M. Pitts, Branch Chief, Office of Insurance Products,
Division of Investment Management, at (202) 942-0670.
SUPPLEMENTARY INFORMATION: Following is a summary of the application.
The complete application is available for a fee from the Public
Reference Branch of the SEC.
Applicant's Representations
1. BML Account, a unit investment trust, is a separate account of
the Boston Mutual Life Insurance Company (``Boston Mutual''). On
December 29, 1978, BML Account filed with the Commission a notification
of registration as an investment company on Form N-8A, and a
registration statement on Form S-6 (File No. 2-63340) to register under
the Securities Act of 1933 interests in individual flexible purchase
payment variable annuity contracts issued by Boston Mutual through BML
Account. The registration statement was declared effective on May 1,
1981.
2. Boston Mutual deposited $100,000 of ``seed money'' in BML
Account. All of that seed money was invested in Money Market
Management, Inc., a money market investment company.
3. Boston Mutual decided to withdraw from the variable annuity
business after fewer than 100 of its variable annuity contracts were
sold. Full refunds were offered to all contractholders and by early
1982 all contractholders had accepted refunds. Boston Mutual has not
issued any variable annuity contracts through BML Account since 1982,
and does not intend to offer variable annuity contracts issued through
BML Account for sale in the future.
4. On December 7, 1995, the Board of Directors of Boston Mutual
authorized the liquidation of Boston Mutual's seed money in the BML
Account, and authorized certain offices to execute and file
deregistration and liquidation documents with the appropriate
authorities.
5. BML Account disposed of its portfolio securities through the
liquidation of Boston Mutual's seed money by redemption, for $100,000
in cash, of 100,000 shares of Money Market Management, Inc. No
brokerage commissions were charged. The proceeds ($100,000) were
returned to Boston Mutual on December 20, 1995.
6. BML Account currently has no assets or liabilities, and no
securityholders or accountholders. BML Account is not a party to any
litigation or administrative proceeding, and is not now engaged, nor
does it intend to engage, in any business activities other than those
necessary for winding up its affairs.
7. Within the last 18 months, BML Account has not transferred any
of its assets to a separate trust.
8. BML Account represents that it is current with all of its
filings under the 1940 Act.
9. BML Account has ceased to be a legal separate account of Boston
Mutual under Massachusetts law. Boston Mutual is in the process of
withdrawing or terminating BML Account's legal existence in any states
in which BML Account is registered.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-30565 Filed 11-29-96; 8:45 am]
BILLING CODE 8010-01-M