[Federal Register Volume 68, Number 241 (Tuesday, December 16, 2003)]
[Notices]
[Pages 70051-70052]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-30937]


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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 Information Services, 450 Fifth 
Street, NW., Washington, DC 20549.
Extension:
    Rules 8b-1 to 8b-32; SEC File No. 270-135; OMB Control No. 3235-
0176.

    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 collections 
of information summarized below. The Commission plans to submit these 
existing collections of information to the Office of Management and 
Budget for extension and approval.

Rules Under Section 8(b) of the Investment Company Act of 1940

    Rules 8b-1 to 8b-32 (17 CFR 270.8b-1 to 8b-32) under the Investment 
Company Act of 1940 (15 U.S.C. 80a) (the ``Act'') are the procedural 
rules an investment company must follow when preparing and filing a 
registration statement. These rules were adopted to standardize the 
mechanics of registration under the Act and to provide more specific 
guidance for persons registering under the Act than the information 
contained in the statute. For the most part, these procedural rules do 
not require the disclosure of information. Two of the rules, however, 
require limited disclosure of information.\1\ The information required 
by the rules is necessary to ensure that investors have clear and 
complete information upon which to base an investment decision. The 
Commission uses the information that investment companies provide on 
registration statements in its regulatory, disclosure review, 
inspection and policy-making roles. The respondents to the collection 
of information are investment companies filing registration statements 
under the Act.
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    \1\ Rule 8b-3 (17 CFR 270.8b-3) provides that whenever a 
registration form requires the title of securities to be stated, the 
registrant must indicate the type and general character of the 
securities to be issued. Rule 8b-22 (17 CFR 270.8b-22) provides that 
if the existence of control is open to reasonable doubt, the 
registrant may disclaim the existence of control, but it must state 
the material facts pertinent to the possible existence of control.
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    The Commission does not estimate separately the total annual 
reporting and recordkeeping burden associated with rules 8b-1 to 8b-32 
because the burden associated with these rules are included in the 
burden estimates the Commission submits for the investment company 
registration statement forms (e.g., Form N-1A, Form N-2, Form N-3, and 
Form N-4). For example, a mutual fund that prepares a registration 
statement on Form N-1A must comply with the rules under section 8(b), 
including rules on riders, amendments, the form of the registration 
statement, and the number of copies to be submitted. Because the fund 
only incurs a burden from the section 8(b) rules when preparing a 
registration statement, it would be impractical to measure the 
compliance burden of these rules separately. The Commission believes 
that including the burden of the section 8(b) rules with the burden 
estimates for the investment company registration statement forms 
provides a more accurate and complete estimate of the total burdens 
associated with the registration process.
    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

[[Page 70052]]

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: December 9, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-30937 Filed 12-15-03; 8:45 am]
BILLING CODE 8010-01-P