[Federal Register Volume 65, Number 54 (Monday, March 20, 2000)]
[Notices]
[Page 15022]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-6751]


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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:
    Form N-4, SEC File No. 270-282, OMB Control No. 3235-0318

    Notice is hereby given that, pursuant to the Paperwork Reduction of 
1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission 
(``Commission'') has submitted to the Office of Management and Budget a 
request for extension of the previously approved collection of 
information discussed below.

Description of Form N-4, Its Purpose and the Industry Entities 
Affected

    There are two separate statutes which require investment companies 
to file registration statements with the Commission if they are 
offering their securities to the public. Each must register as an 
investment company under the Investment Company Act of 1940 (``1940 
Act''), and must register the securities it will offer under the 
Securities Act of 1933 (``1933 Act''). Form N-4 is part of the 
integrated registration and reporting system by which registrants 
satisfy the registration requirements of both the 1940 Act and the 1933 
Act by filing a single registration statement. Form N-4 is the required 
form that insurance company separate accounts organized as unit 
investment trust (``IC UIT separate accounts'') must if they offer 
variable annuity contracts.
    The Form N-4's purpose is to provide investors with material 
information concerning securities offered for public sale. The first 
part includes a simplified prospectus that satisfies the prospectus 
delivery requirements of the 1933 Act. The second part is a Statement 
of Additional Information available free of charge to prospective 
investors upon request. A third part of the registration statement 
includes all of the other mandatory information that is not 
specifically required to be in the prospectus or the Statement of 
Additional Information.
    As a regulatory matter, the Form N-4 satisfies the disclosure 
requirements of the 1933 Act. Form N-4 also satisfies the 1940 
requirement that investment companies file a registration statement 
with the Commission pursuant to Section 8(b).
    It is estimated that, currently, there are 615 IC UIT separate 
accounts required to file initial and post effective registration 
statements on an annual and as required basis using Form N-4. The 
burden from Form N-4 requires approximately 219.8 hours per post 
effective amendment and 298 hours for each initial registration. The 
total burden hours for Form N-4 is estimated at 284,379.20 in the 
aggregate. The estimates of average burden hours are made solely for 
the purposes of the Paperwork Reduction Act and are not derived from a 
comprehensive or even representative survey or study of the costs of 
Commission rules and forms.
    The collection of information based on registration using the Form 
N-4 is mandatory. The information provided by Form N-4 is not keep 
confidential. The Commission may not conduct or sponsor, and a person 
is not required to respond to a collection of information unless it 
displays a currently valid OMB control number.
    General 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 3208, 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: March 13, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-6751 Filed 3-17-00; 8:45 am]
BILLING CODE 8010-01-M