[Federal Register Volume 68, Number 34 (Thursday, February 20, 2003)]
[Notices]
[Pages 8313-8314]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-4043]


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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-54A......................  SEC File No. 270-182.............  OMB Control No. 3235-0237
Form N-54C......................  SEC File No. 270-184.............  OMB Control No. 3235-0236
Form N-6F.......................  SEC File No. 270-185.............  OMB Control No. 3235-0238
 

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.) (the ``Act''), the Securities and 
Exchange Commission (``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collections of information discussed below.
    [sbull] Form N-54A under the Investment Company Act of 1940; 
Notification of Election to be Subject to Sections 55 through 65 of the 
Investment Company Act of 1940 Filed Pursuant to Section 54(a) of the 
Act
    Form N-54A (17 CFR 274.53) is the notification of election to the 
Commission to be regulated as a business development company. A company 
making such an election only has to file a Form N-54A once.
    It is estimated that approximately 4 respondents per year file with 
the Commission a Form N-54A. Form N-54A requires approximately 0.5 
burden hours per response resulting from creating and filing the 
information required by the Form. The total burden hours for Form N-54A 
would be 2.0 hours per year in the aggregate. The estimated annual 
burden of 2.0 hours represents an increase of 1.0 hour over the prior 
estimate of 1.0 hour. The increase in burden hours is attributable to 
an increase in the number of respondents from 3 to 4.
    [sbull] Form N-54C under the Investment Company Act of 1940, 
Notification of Withdrawal of Election to be Subject to Sections 55 
through 65 of the Investment Company Act of 1940 Filed Pursuant to 
Section 54(c) of the Investment Company Act of 1940
    Form N-54C (17 CFR 274.54) is a notification to the Commission that 
a company withdraws its election to be regulated as a business 
development company. Such a company only has to file a Form N-54C once.
    It is estimated that approximately 8 respondents per year file with 
the Commission a Form N-54C. Form N-54C requires approximately 1 burden 
hour per response resulting from

[[Page 8314]]

creating and filing the information required by the Form. The total 
burden hours for Form N-54C would be 8 hours per year in the aggregate. 
The estimated annual burden of 8 hours represents a decrease of 4 hours 
over the prior estimate of 12 hours. The decrease in burden hours is 
attributable to a decrease in the number of respondents from 12 to 8.
    [sbull] Form N-6F under the Investment Company Act of 1940, Notice 
of Intent to Elect to be Subject to Sections 55 through 65 of the 
Investment Company Act of 1940
    Certain companies may have to make a filing with the Commission 
before they are ready to elect on Form N-54A to be regulated as a 
business development company.\1\ A company that is excluded from the 
definition of ``investment company'' by section 3(c)(1) of the 
Investment Company Act of 1940 because it has fewer than one hundred 
shareholders and is not making a public offering of its securities may 
lose such an exclusion solely because it proposes to make a public 
offering of securities as a business development company. Such a 
company, under certain conditions, would not lose its exclusion if it 
notifies the Commission on Form N-6F [17 CFR 274.15] of its intent to 
make an election to be regulated as a business development company. The 
company only has to file a Form N-6F once.
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    \1\ A company might not be prepared to elect to be subject to 
Sections 55 through 65 of the Investment Company Act of 1940 because 
its capital structure or management compensation plan is not yet in 
compliance with the requirements of those sections.
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    It is estimated that approximately 0 respondents per year file with 
the Commission a Form N-6F. Form N-6F requires approximately 0.5 burden 
hours per response resulting from creating and filing the information 
required by the Form. The total burden hours for Form N-6F would be 0 
hours per year in the aggregate but we are requesting one hour for 
administrative purposes. The estimated annual burden of 1.0 hour 
represents no change from the prior estimate of 1.0 hour.
    The estimates of average burden hours for Forms N-54A, N-54C and N-
6F are made solely for the purposes of the Act and are not derived from 
a comprehensive or even representative survey or study of the cost of 
Commission rules and forms.
    The collections of information under Forms N-54A, N-54C and N-6F 
are mandatory. The information provided by such Forms 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.
    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 10202, New Executive Office 
Building, Washington, DC 20503; and (ii) Kenneth A. Fogash, Acting 
Associate Executive Director/CIO, 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: February 11, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-4043 Filed 2-19-03; 8:45 am]
BILLING CODE 8010-01-P