[Federal Register Volume 65, Number 9 (Thursday, January 13, 2000)]
[Notices]
[Pages 2204-2205]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-779]
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SECURITIES AND EXCHANGE COMMISSION
[Form N-54A, SEC File No. 270-182, OMB Control No. 3235-0237, Form N-
54C, SEC File No. 270-184, OMB Control No. 3235-0236, Form N-6F, SEC
File No. 270-185, OMB Control No. 3235-0238]
Proposed Collection; Comment Request
Upon Written Request, Copy Available From: Securities and
Exchange Commission, Office of Filings and Information Services, 450
Fifth Street, NW, Washington, DC 20549.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 [44 U.S.C. 3501 et seq.] (the ``Act''), the Securities and
Exchange Commission (the ``Commission'') is soliciting comments on the
collections of information summarized below. The Commission plans to
submit these existing collections of information to the Office of
Management and Budget for extension and approval.
Form N-54A Under the Investment Company Act of 1940; Notification of
Election To Be Subject to Sections 55 Through 65 of the Investment
Company Act of 1940 Filed Pursuant to Section 54(a) of the Act
Form N-54A [17 CFR 274.53] is a notification of election to the
Commission to be regulated as a business development company. A company
making such an election only has to file a Form N-54A once.
It is estimated that approximately 3 respondents per year file with
the Commission a Form N-54A. Form N-54A requires approximately 0.5
burden
[[Page 2205]]
hours per response resulting from creating and filing the information
required by the form. The total burden hours for Form N-54A would be
1.5 hours per year in the aggregate. The estimated annual burden of 1.5
hours represents a decrease of 0.5 hours over the prior estimate of 2
hours. The decrease in burden hours is attributable to a decrease in
the number of respondents from 4 to 3.
Form N-54C Under the Investment Company Act of 1940, Notification of
Withdrawal of Election To Be Subject to Sections 55 Through 65 of the
Investment Company Act of 1940 Filed Pursuant to Section 54(c) of the
Investment Company Act of 1940
Form N-54C [17 CFR 274.54] is a notification to the Commission that
a company withdraws its election to be regulated as a business
development company. Such a company only has to file a Form N-54C once.
It is estimated that approximately 12 respondents per year file
with the Commission a Form N-54C. Form N-54C requires approximately 1
burden hour per response resulting from creating and filing the
information required by the form. The total burden hours for Form N-54C
would be 12 hours per year in the aggregate. The estimated annual
burden of 12 hours represents an increase of 11 hours over the prior
estimate of 1 hour. The increase in burden hours is attributable to an
increase in the number of respondents from 1 to 12.
Form N-6F Under the Investment Company Act of 1940, Notice of Intent to
Elect To Be Subject to Sections 55 through 65 of the Investment Company
Act of 1940
Certain companies may have to make a filing with the Commission
before they are ready to elect on Form N-54A to be regulated as a
business development company.\1\ A company that is excluded from the
definition of ``investment company'' by Section 3(c)(1) of the
Investment Company Act of 1940 because it has fewer than one hundred
shareholders and is not making a public offering of its securities may
lose such an exclusion solely because it proposes to make a public
offering of securities as a business development company. Such a
company, under certain conditions, would not lose its exclusion if it
notifies the Commission on Form N-6F [17 CFR 274.15] of its intent to
make an election to be regulated as a business development company. The
company only has to file a Form N-6F once.
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\1\ A company might not be prepared to elect to be subject to
sections 55 through 65 of the Investment Company Act of 1940 because
its capital structure or management compensation plan is not yet in
compliance with the requirements of those sections.
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It is estimated that approximately 3 respondents per year file with
the Commission a Form N-6F. Form N-6F requires approximately 0.5 burden
hours per response resulting from creating and filing the information
required by the form. The total burden hours for Form N-6F would be 1.5
hours per year in the aggregate. The estimated annual burden of 1.5
hours represents a decrease of 0.5 hours over the prior estimate of 2
hours. The decrease in burden hours is attributable to a decrease in
the number of respondents from 4 to 3.
The estimates of average burden hours for Forms N-54A, N54-C and N-
64F are made solely for the purposes of the Act and are not derived
from a comprehensive or even representative survey or study of the
costs of Commission rules and forms.
Written comments are invited on: (a) whether the proposed
collections of information are necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the collections of information; (c) ways to enhance the
quality, utility, and clarity of the information collected; and (d)
ways to minimize the burden of the collections of information on
respondents, including through the use of automated collection
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted in writing within 60
days of this publication.
Please direct your written comments to Michael E. Bartell,
Associate Executive Director, Office of Information Technology,
Securities and Exchange Commission, 450 Fifth Street, NW, Washington,
DC 20549.
Dated: January 6, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-779 Filed 1-12-00; 8:45 am]
BILLING CODE 8010-01-M