[Federal Register Volume 68, Number 194 (Tuesday, October 7, 2003)]
[Notices]
[Pages 57936-57937]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-25317]


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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 27f-1 and Form N-27F-1, SEC File No. 270-487, OMB Control 
No. 3235-0546.


[[Page 57937]]


    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 (the ``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collection of information discussed below.
    Rule 27f-1 [17 CFR 270.27f-1] is entitled ``Notice of Right of 
Withdrawal Required To Be Mailed to Periodic Payment Plan Certificate 
Holders and Exemption from Section 27(f) for Certain Periodic Payment 
Plan Certificates.'' Form N-27F-1 is entitled ``Notice to Periodic 
Payment Plan Certificate Holders of 45 Day Withdrawal Right with 
Respect to Periodic Payment Plan Certificates.'' Form N-27F-1, which is 
prescribed by rule 27f-1, is used to notify recent purchasers of 
periodic payment plan certificates of their right under section 27(f) 
of the Act to return the certificates within a specified period for a 
full refund. The Form N-27F-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 three issuers of periodic payment 
plan certificates are affected by rule 27f-1. The frequency with which 
each of these issuers or their representatives must file Form N-27F-1 
notices varies with the number of periodic payment plans sold. The 
Commission estimates, however, that approximately 5,907 Form N-27F-1 
notices are sent out annually. The Commission estimates that all the 
issuers that send Form N-27F-1 notices use outside contractors to print 
and distribute the notices, and incur no hourly burden. 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 and 
forms.\1\
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    \1\ This estimate is based on informal conversations between the 
Commission staff and representatives of periodic payment plan 
issuers.
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    Complying with the collection of information requirements of rule 
27f-1 is mandatory for custodian banks of periodic payment plans for 
which the sales load deducted from any payment exceeds 9 percent of the 
payment.\2\ The information provided pursuant to rule 27f-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.
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    \2\ The rule permits the issuer, the principal underwriter for, 
or the depositor of, the issuer or a record-keeping agent for the 
issuer to mail the notice if the custodian bank has delegated the 
mailing of the notice to any of them or if the issuer has been 
permitted to operate without a custodian bank by Commission order. 
See 17 CFR 270.27f-1.
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    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 3208, 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-
0004. Comments must be submitted to OMB within 30 days of this notice.

    Dated: September 29, 2003.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 03-25317 Filed 10-6-03; 8:45 am]
BILLING CODE 8010-01-M