[Federal Register Volume 68, Number 189 (Tuesday, September 30, 2003)]
[Notices]
[Page 56351]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-24747]


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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, 450 
Fifth Street, NW., Washington, DC 20549-0004.

Extension

Rule 27e-1 and Form N-27E-1, SEC File No. 270-486, OMB Control No. 
3235-0545.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 350l et seq.), the Securities and Exchange 
Commission (the ``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for approval of the 
collection of information under the Investment Company Act of 1940 
(``Act'') summarized below.
    Rule 27e-1 [17 CFR 270.27e-1] is entitled ``Requirements for Notice 
to be Mailed to Certain Purchasers of Periodic Payment Plan 
Certificates Sold Subject to section 27(d) of the Act.'' Form N-27E-1 
is entitled ``Notice to Periodic Payment Plan Certificate Holders of 18 
Month Surrender Rights with Respect to Periodic Payment Plan 
Certificates.'' Form N-27E-1, which is prescribed by rule 27e-1 in 
order to implement the statutory mandate in section 27(e) of the Act, 
serves to notify holders of periodic payment plan certificates who have 
missed certain payments of their surrender rights with respect to the 
certificates. The Form N-27E-1 notice, which is sent directly to 
holders of periodic payment plan certificates, serves to alert 
purchasers of periodic payment plans of their rights in connection with 
their plan certificates.
    Commission staff estimates that there are fewer than five issuers 
of periodic payment plan certificates affected by rule 27e-1. The 
frequency with which each of these issuers or their representatives 
must file the Form N-27E-1 notice varies with the number of periodic 
payment plans sold and the number of certificate holders who miss 
payments. The staff spoke with representatives of a number of firms in 
the industry that currently have periodic payment plan accounts. Based 
upon these conversations, the staff estimates that 3 respondents 
through completely automated processes send out approximately 2,965 
notices a year. These estimates are based on an informal survey of 
representatives of several entities and are not derived from a 
comprehensive or necessarily even representative study of the cost of 
the Commission's rules and forms.
    Complying with the collection of information requirements of rule 
27e-1 is mandatory for issuers of periodic payment plans or their 
depositors or underwriters in the event holders of plan certificates 
miss certain payments within eighteen months after issuance. The 
information provided pursuant to rule 27e-1 will be provided to third 
parties and, therefore, will not be kept confidential. The Commission 
is seeking OMB approval, because 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, Room 10102, New Executive Office Building, 
Washington, DC 20503; and (ii) 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. Comments must be submitted to OMB 
within 30 days after this notice.

    Dated: September 22, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-24747 Filed 9-29-03; 8:45 am]
BILLING CODE 8010-01-P