[Federal Register Volume 66, Number 206 (Wednesday, October 24, 2001)]
[Notices]
[Pages 53811-53812]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-26725]


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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:
    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) has submitted to the Office of Management and 
Budget requests for extension of the previously approved collections of 
information, under the Public Utility Holding Company Act of 1935 
(Act), as discussed below.
    Rule 45 imposes a filing requirement on registered holding 
companies and their subsidiaries under Section 12(b) of 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.
    There is no recordkeeping requirement for this information 
collection. Companies that are subject to Rule 45 are under a mandatory 
duty to provide the Commission with the required information. There is 
no requirement to keep the information confidential because it is 
public information.
    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 Commission estimates 
that the total annual reporting and recordkeeping burden of collection 
under Rule 52 is 33 hours (33 responses  x  one hour = 33 burden 
hours).
    There is no recordkeeping requirement for this information 
collection. It is mandatory that qualifying companies provide the 
information required by Rule 52. There is no requirement to keep to 
information

[[Page 53812]]

confidential because it is public information.
    Sections 32 and 33 of the Act as amended, 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. These rules do, 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  10 
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 under the Act 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).
    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).
    It is mandatory that records subject to Part 257 be maintained by 
the holding companies and their service companies for the prescribed 
period. There is no requirement to keep the information related to Part 
257 confidential, because it is public information.
    These 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 a representative survey or study of the costs of 
SEC rules and forms.
    It should be noted that 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.
    Please direct general comments regarding the above information 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, DC 
20503; and (ii) Michael E. Bartell, Associate Executive Director, 
Office of Information Technology, Securities and Exchange Commission, 
450 5th Street, NW., Washington, DC 20549. Comments must be submitted 
to OMB within 30 days of this notice.

    Dated: October 12, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-26725 Filed 10-23-01; 8:45 am]
BILLING CODE 8010-01-M