[Federal Register Volume 65, Number 74 (Monday, April 17, 2000)]
[Notices]
[Pages 20493-20494]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-9484]


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SECURITIES AND EXCHANGE COMMISSION


Request Under Review by Office of Management and Budget

    Upon Written Request Copies Available From Securities and Exchange

[[Page 20494]]

Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension:
    Rule 22d-1, SEC File No. 270-275, OMB Control No. 3235-0310

    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 (the ``Commission'') has submitted for extension of OMB 
approval Rule 22d-1 under the Investment Company Act of 1940 
(``Investment Company Act'').
    Rule 22d-1 [17 CFR 270.22d-1] provides registered investment 
companies that issue redeemable securities (``funds'') an exemption 
from section 22(d) of the Investment Company Act to the extent 
necessary to permit scheduled variations in or elimination of the sales 
load on fund securities for particular classes of investors or 
transactions, provided certain conditions are met. These conditions 
require that (1) the scheduled variation be applied uniformly to all 
offerees in the specified class; (2) existing shareholders and 
prospective investors be furnished adequate information concerning the 
scheduled variation, as prescribed in applicable registration statement 
form requirements; (3) the fund's prospectus and statement of 
additional information are revised to describe the new scheduled 
variation before any new sales load variation is made available to 
purchasers of fund shares; and (4) within one year of first making the 
scheduled variation available, existing shareholders are advised of any 
new sales load variation (items (2) through (4), collectively, ``notice 
requirements''). The notice requirements of Rule 22d-1 are designed to 
ensure that all existing and prospective investors that may be eligible 
for a reduction or elimination of the sales load receive timely notice 
about it. The rule imposes an annual burden per fund of approximately 
15 minutes, so that the total burden for the approximately 2,400 funds 
that might rely on the rule is estimated to be 600 hours.
    The collection of information under Rule 22d-1 is mandatory. The 
information provided by Rule 22d-1 is not kept 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.
    The estimate of average burden hours is made solely for the 
purposes of the Paperwork Reduction Act, and is not derived from a 
comprehensive or even a representative survey or study.
    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, New Executive Office Building, 
Washington, D.C. 20503; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: April 11, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-9484 Filed 4-14-00; 8:45 am]
BILLING CODE 8010-01-M