[Federal Register Volume 65, Number 193 (Wednesday, October 4, 2000)]
[Notices]
[Pages 59234-59235]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-25423]


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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.
    Extensions: Rule 6c-7 SEC File No. 270-269; OMB Control No. 3235-
0276; Rule 11a-2; SEC File No. 270-267; OMB Control No. 3235-0272.
    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 to the Office of 
Management and Budget requests for approval of extension of the 
previously approved collection of information discussed below.
    Rule 6c-7 [17 CFR 270.6c-7] under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) (``1940 Act'') provides exemption from 
certain provisions of Sections 22(e) and 27 of the 1940 Act for 
registered separate accounts offering variable annuity contracts to 
certain employees of Texas institutions of higher education 
participating in the Texas Optional Retirement Program. There are 
approximately 82 registrants governed by Rule 6c-7. The burden of 
compliance with Rule 6c-7, regarding obtaining from a purchaser, prior 
to or at the time of purchase, a signed document acknowledging the 
restrictions on redeemability imposed by Texas law, is estimated to be 
approximately 3 minutes per response for each of 2,649 purchasers 
annually, for a total annual burden of 132.45 hours.
    Rule 6c-7 requires that the separate account's Registration 
Statement under the Securities Act of 1933 (15 U.S.C. 77a et seq.) 
(``1933 Act'') include a representation that Rule 6c-7 is being relied 
upon and is being complied with. This requirement enhances the 
Commission's ability to monitor utilization of and compliance with the 
rule. There are no recordkeeping requirements with respect to Rule 6c-
7.
    Rule 11a-2 [17 CFR 270.11a-2] permits certain registered insurance 
company separate accounts, subject to certain conditions, to make 
exchange offers without prior approval by the Commission of the terms 
of those offers. There are approximately 649 registrants governed by 
Rule 11a-2, with an estimated compliance time of 15 minutes per 
registrant, for a total annual burden of 162.25 hours.
    Rule 11a-2 requires disclosure, in certain registration statements 
filed pursuant to the 1933 Act, of any administrative fee or sales load 
imposed in connection with an exchange offer. The information resulting 
from the disclosure is used by the Commission to monitor the terms and 
conditions of such exchange offers. There are no recordkeeping 
requirements with respect to this rule.
    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 of the costs of 
Commission rules or forms. With regard to Rule 6c-7, the Commission 
does not include in the estimate of average burden hours the time 
preparing registration statement and sales literature disclosure 
regarding the restrictions on redeemability imposed by Texas law. The 
estimate of burden hours for completing the

[[Page 59235]]

relevant registration statements are reported on the separate PRA 
submissions for those statements (see the separate PRA submissions for 
Form N-3 [17 CFR 274.11b] and Form N-4 [17 CFR 274.11c]). With regard 
to Rule 11a-2, the Commission includes the estimate of burden hours in 
the total number of burden hours estimated for completing the relevant 
registration statements and reported on the separate PRA submissions 
for those statements (see the separate PRA submissions for Form N-3 and 
Form N-4).
    Complying with the collection of information requirements of the 
rules is necessary to obtain a benefit. 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 10102, 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: September 25, 2000.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-25423 Filed 10-3-00; 8:45 am]
BILLING CODE 8010-01-M