[Federal Register Volume 62, Number 64 (Thursday, April 3, 1997)]
[Notices]
[Pages 15944-15945]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-8471]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, 
DC 20549

Extension:
    Rule 17a-8, SEC File No. 270-225, OMB Control No. 3235-0235
    Form N-8F, SEC File No. 270-136, OMB Control No. 3235-0157
    Form N-23C-1, SEC File No. 270-230, OMB Control No. 3235-0230

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget requests for approval of extension on previously approved 
collections of information:
    Rule 17a-8 exempts certain mergers and similar business 
combinations (``mergers'') of affiliated registered investment 
companies (``funds'') from section 17(a)'s prohibitions on purchases 
and sales between a fund and its affiliates. The rule requires fund 
directors to consider certain issues and to record their findings in 
board minutes. The average annual burden of meeting the requirements of 
Rule 17a-8 is estimated to be 1.5 hours for each fund. The Commission 
estimates that about seventeen funds rely each year on the rule. The 
total average annual burden for all respondents is therefore twenty-six 
hours.
    Form N-8F is the form prescribed for use by registered investment 
companies in certain circumstances to request orders of the Commission 
declaring that they have ceased to be investment companies. The form 
takes approximately 6 hours to complete. It is estimated that 
approximately 160 investment companies file Form N-8F annually, for a 
total annual burden of 960 hours.
    Form N-23C-1 assists the Commission and the public in monitoring 
repurchases by closed-end investment companies (``closed-end funds'') 
of their own securities under Rule 23c-1, which permits such 
repurchases in limited circumstances subject to certain safeguards. The 
form, which must be filed within the first 10 days of the calendar 
month following any month in which securities are repurchased, requires 
the closed-end fund to report certain information including the date, 
amount, and price of repurchases and other information. It is

[[Page 15945]]

estimated that four closed-end funds are affected by the rule each 
year, and that they file approximately 23 reports in total each year 
(based on the average of 0 to 12 reports filed annually by each fund) 
requiring one hour per report, for a total of 23 annual burden hours.
    General comments regarding the estimated burden hours should be 
directed to the Desk Officer for the Securities and Exchange Commission 
at the address below. Any comments concerning the accuracy of the 
estimated average burden hours for compliance with Commission rules and 
forms should be directed to Michael E. Bartell, Associate Executive 
Director, Office of Information Technology, Securities and Exchange 
Commission, 450 Fifth Street, N.W., Washington, D.C. 20549 and Desk 
Officer for the Securities and Exchange Commission, Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
Room 3208, New Executive Office Building, Washington, D.C. 20503.

    Dated: March 26, 1997.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-8471 Filed 4-2-97; 8:45 am]
BILLING CODE 8010-01-M