[Federal Register Volume 68, Number 149 (Monday, August 4, 2003)]
[Notices]
[Pages 45862-45863]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-19728]


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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

[[Page 45863]]

Information Services, Washington, DC 20549.

Extension:
    Rule 6c-7; SEC File No. 270-269; OMB Control No. 3235-0276.

    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 collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    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 80 registrants governed by Rule 6c-7. The burden of 
compliance with Rule 6c-7, in connection with the registrants 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 of professional 
time per response for each of 2600 purchasers annually (at an estimated 
$70 per hour), for a total annual burden of 130 hours (at a total 
annual cost of $9,100).
    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. The Commission does not include in the 
estimate of average burden hours the time preparing registration 
statements and sales literature disclosure regarding the restrictions 
on redeemability imposed by Texas law. The estimate of burden hours for 
completing the 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].)
    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 are invited on: (a) 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; (b) the accuracy of the agency's estimate of 
the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information collected; and (d) 
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 Kenneth A. Fogash, Acting 
Associate Executive Director/CIO, Office of Information Technology, 
Securities and Exchange Commission, 450 5th Street NW., Washington, DC 
20549.

    Dated: July 21, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-19728 Filed 8-1-03; 8:45 am]
BILLING CODE 8010-01-P