[Federal Register Volume 66, Number 162 (Tuesday, August 21, 2001)]
[Notices]
[Pages 43922-43923]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-20973]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, DC 20549.

Extension

Rule 45; SEC File No. 270-164; OMB Control No. 3235-0154
Rule 52; SEC File No. 270-326; OMB Control No. 3235-0369
Rule 53; SEC File No. 270-376; OMB Control No. 3235-0426
Rule 54; SEC File No. 270-376; OMB Control No. 3235-0427
Rule 57(b) and Form U-33-S; SEC File No. 270-376; OMB Control No. 
3235-0429
Rule 58 and Form U-9C-3; SEC File No. 270-400; OMB Control No. 3235-
0457
Rule 71, Form U-12(I)-A, and Form U-12(I)-B; SEC File No. 270-161; 
OMB Control No. 3235-0173
Part 257; SEC File No. 270-252; OMB Control No. 3235-0306

    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) is soliciting comments on the collections of 
information under the Public Utility Holding Company Act of 1935 (Act) 
summarized below. The Commission plans to submit these existing 
collections of information to the Office of Management and Budget for 
extension and approval.
    Rule 45 imposes a filing requirement on registered holding 
companies and their subsidiaries under Section 12(b) the Act. Under the 
requirement, the companies must file a declaration seeking authority to 
make loans or otherwise extend credit to other companies in the same 
holding company system. Among others, the rule exempts from the filing 
requirement the performance of payment obligations under consolidated 
tax agreements. The 15 recordkeepers together incur about 46 annual 
burden hours to comply with these requirements.
    Rule 52 permits public utility subsidiary companies of registered 
holding companies to issue and sell certain securities without filing a 
declaration if certain conditions are met. The purpose of collecting 
the information is to determine the existence of detriment to interests 
the Act was designed to protect. The Commission estimates that the 
total annual reporting and recordkeeping burden of collections under 
Rule 52 is 33 hours (33 responses  x  one hour = 33 burden hours).
    Section 32 and 33 of the Act and Rules 53, 54, and 57(b) under the 
Act, permit, among other things utility holding companies registered 
under the Act to make direct or indirect investments in exempt 
wholesale generators (``EWGs'') and foreign utility companies 
(``FUCOs''), as defined in Sections 32 and 33 of the Act, respectively, 
without the prior approval of the Commission, if certain conditions are 
met. Rules 53 and 54 do not create a reporting burden for respondents. 
Rule 53 does, however, contain recordkeeping and retention 
requirements. As required by Congress, the Commission mandates the 
maintenance of certain books and records identifying investments in and 
earnings from all subsidiary EWGs or FUCOs in order to measure their 
financial effect on the registered systems.
    The Commission estimates that the total annual recordkeeping and 
record retention burden under Rule 53 will be a total of 160 hours (10 
hours per respondent  x  16 respondents = 160 burden hours). It is 
estimated that there will be no burden hours associated with Rule 54.
    Under Rule 57(b) there is an annual requirement for any public 
utility company that owns one or more FUCOs to file Form U-33-S. The 
information contained in Form U-33-S allows the Commission to monitor 
overseas investments by public utility companies.
    The Commission estimates that the total annual reporting burden 
under Rule 57(b) will be 30 hours (3 hours per respondent  x  filings = 
30 hours).
    Rules 53, 54, 57(b) each impose a mandatory recordkeeping 
requirement of this information collection. It is mandatory that 
qualifying companies provide the information required by Rules 53, 54 
and 57(b). There is no requirement to keep the information confidential 
because it is public information.
    Rule 58 allows registered holding companies and their subsidiaries 
to acquire energy-related and gas-related companies. Acquisitions are 
made, within certain limits, without prior Commission approval under 
Section 10 of the Act. However, within sixty 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 
Commission uses this information to determine the existence of 
financial detriment, regarding the acquisition of certain energy-
related companies, to the interests the Act is designed to protect. The 
Commission estimates that the total annual reporting burden is 1,008 
hours to comply with these requirements (63 respondents  x  16 = 1,008 
burden hours).
    Rule 71 requires that certain information be filed by employees of 
registered holding companies who represent the companies' interests 
before Congress, the Commission or the Federal Energy Regulatory 
Commission on either Form U-12(I)-A or Form U-12(I)-B. The filings must 
provide, among other things, the identity of the representative, the 
person's position and compensation and a quarterly statement of those 
expenses not incurred in the ordinary course of business. Employees 
appearing for the first time must file this information on form U-
12(I)-A within ten days of an appearance. Employees appearing on a 
regular basis may file the information in advance on Form U-12(I)-B, 
which will remain valid for the remainder of the year in which it was 
first filed and for the following two calendar years. Thereafter, it 
may be renewed for additional three-year periods within thirty days of 
the expiration of the prior filing.
    The information collection prescribed by Form U-12(I)-A and Form U-
12(I)-B is required by Rule 71 under the Act. Rule 71 implements 
Section 12(i) of the Act, which expressly requires the filing of the 
prescribed disclosure information with the Commission in the interest 
of investors and consumers. The Commission estimates that the total 
annual reporting burden of collections under Rule 71 is 167 hours (250 
responses  x  forty minutes = 167 burden hours).

[[Page 43923]]

    Part 257 generally mandates the preservation, and provides for the 
destruction, of books and records of registered public utility holding 
companies subject to Rule 26 under the Act and service companies 
subject to Rule 93. Part 257 prescribes which records must be 
maintained for regulatory purposes and which media methods may be used 
to maintain them. Further, it sets a schedule for destroying particular 
documents or classes of documents.
    The Commission estimates that there is an associated recordkeeping 
burden of 25 hours in connection with the record preservation programs 
administered by registered holding companies under part 257 (25 
recordkeepers  x  1 hour = 25 burden hours).
    The estimates of average burden hours are made for the purposes of 
the Paperwork Reduction Act and are not derived from a comprehensive or 
even a representative survey or study of the costs of Commission rules 
and forms.
    Written comments are invited on: (1) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (2) the accuracy of the agency's estimate of 
the burden of the collection of information; (3) ways to enhance the 
quality, utility, and clarity of the information collected; and (4) 
ways to minimize the burden of the collection 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 Directory, Office of Information Technology, 
Securities and Exchange Commission, 450 5th Street, NW., Washington, DC 
20549.

    Dated: August 7, 2001.
Jonathan G. Katz,
Secretary.
[FR Doc. 01-20973 Filed 8-20-01; 8:45 am]
BILLING CODE 8010-01-M