[Federal Register Volume 63, Number 168 (Monday, August 31, 1998)]
[Notices]
[Pages 46257-46258]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-23280]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

    Extension: Part 257, SEC File No. 270-252, OMB Control No. 3235-
0306;
    Form U-1 SEC File No. 270-128, OMB Control No. 3235-0125;
    Rule 58, Form U-9C-3, SEC File No. 270-400, OMB Control No. 
3235-0457;
    Rule 71, Form U-12-(I)-A & Form U-12-(I)-B, SEC File No. 270-
161, OMB Control No. 3235-0173;
    Rules 93-94, Form U-13-60, SEC File No. 270-79, OMB Control No. 
3235-0153.

    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, DC 20549.
    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 extension of the previously approved collections of 
information discussed below.
    The rules under 17 CFR Part 257 implement sections of the Public 
Utility Holding Company Act of 1935 (``Act'') require registered 
holding companies and their subsidiary service companies to preserve 
records for certain periods. The purpose of requiring the holding 
company to retain the records is to permit audit or verification by the 
Commission, or by state utility commissions, of transactions between 
the holding company or its otherwise unregulated subsidiaries, the 
subsidiary service companies, and the regulated utility subsidiaries 
which the holding company controls, or to establish investors' rights. 
The Commission estimates that the total annual reporting and 
recordkeeping burden is one hour (18 recordkeepers  x \1/18\ hour = one 
burden hour).
    There is no recordkeeping requirement of this information 
collection. It is mandatory that

[[Page 46258]]

qualifying companies provide the information required by the Part 257. 
There is no requirement to keep the information confidential because it 
is public information.
    Form U-1, under rule 20(c) of the Act, must be used by any person 
filing or amending an application or declaration under sections 6(b), 
7, 9(c)(3), 10, 12(b), (c), (d) or (f) of the Act. The form must also 
be used for filings under any rule under other sections of the Act, for 
which a form is not prescribed. The Commission estimates that the total 
annual reporting and recordkeeping burden in 27,225 hours (121 
recordkeepers  x  225 hours = 27,225 burden hours). This represents an 
increase of 10,020 hours annually in the paperwork burden from the 
prior estimate, which was caused by an increase in the number of 
respondents for the period and the fact that the filings have become 
generally more complex.
    The Commission needs the information because rule 20(c) requires 
it. The Commission uses this information to determine the existence of 
detriment to interests the Act is designed to protect. Compliance with 
the requirements to provide the information is mandatory. The 
information will not be kept confidential.
    Rule 58 under the Act, allows registered holding companies and 
their subsidiaries to acquire energy-related and gas-related companies. 
Acquisitions are made without prior Commission approval under section 
10 of the Act. However, within 60 days after the end of the first 
calendar quarter in which any exempt acquisition is made, and each 
calendar quarter thereafter, the registered holding company is required 
to file with the Commission a certificate of notification on Form U-9C-
3 containing the information prescribed by that form. The 61 
recordkeepers together incur about 976 annual burden hours to comply 
with these requirements (61 recordkeepers  x  16 hours = 976 burden 
hours).
    The Commission requests this information because rule 58 of the Act 
requires it. The Commission uses this information to determine the 
existence of detriment, regarding the acquisition of certain energy-
related companies, to interests the Act is designed to protect.
    Rule 71 and Forms U-12(I)-A and U-12(I)-B implement subsection 
12(i) of the Act, which makes it unlawful for an employee to prevent, 
advocate or oppose any matter affecting a registered holding company 
before Congress, the Commission or the FERC. The Commission estimates 
that the total annual reporting and recordkeeping burden is 167 hours 
(250 respondents  x  \2/3\ hour = 167 burden hours).
    The purpose of collecting the information is to determine the 
existence of detriment to interests the Act is designed to protect. The 
Commission uses the information to enable it to enforce the provisions 
of section 12(i) of the Act.
    Rule 93 imposes recordkeeping and record maintenance requirements 
on mutual and subsidiary service companies of registered holding 
companies. Under the rule, the service companies must keep their 
accounts and records according to the Uniform System of Accounts, as 
provided in 17 CFR 256. Further, the companies must maintain those 
records in the manner and for the periods provided in 17 CFR 257. Rule 
94 requires service companies to file annual financial reports on Form 
U-13-60, as provided in 17 CFR 259.313. The purpose of requiring the 
holding company to retain the records is to permit audit or 
verification by the Commission, or by state utility commissions, of 
transactions between the holding company or its otherwise unregulated 
subsidiaries, the subsidiary service companies and the regulated 
utility subsidiaries which the holding company controls or to establish 
investors' rights. The Commission estimates that the total annual 
reporting and recordkeeping burden is 580 hours (40 respondents  x  
14.5 hours = 580 hours).
    Compliance with the collection of information requirements of the 
rule is mandatory to obtain the benefit of relying on the rule.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid control number.
    Written comments regarding the above information should be directed 
to the following persons: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10202, New Executive Office 
Building, Washington, DC 20503; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: August 24, 1998.
Jonathan G. Katz,
Secretary.
[FR Doc. 98-23280 Filed 8-28-98; 8:45 am]
BILLING CODE 8010-01-M