[Federal Register Volume 69, Number 184 (Thursday, September 23, 2004)]
[Notices]
[Page 57103]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-21361]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon written request, copy available from: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549

Extension:
    Form S-6--SEC File No. 270-181--OMB Control No. 3235-0184.

    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 (``OMB'') for extension and approval.
    Form S-6--For Registration under the Securities Act of 1933 of 
Securities of Unit Investment Trusts Registered on Form N-8B-2. Unit 
investment trusts offering their securities to the public are required 
by two separate statutes to file registration statements with the 
Commission. They are required to register their securities under the 
Securities Act of 1933 (``1933 Act''), and to register as investment 
companies under the Investment Company Act of 1940 (``1940 Act'').
    Form S-6 is used for registration under the 1933 Act of the 
securities of any unit investment trust that is registered under the 
1940 Act on Form N-8B-2.\1\ A separate registration statement under the 
1933 Act must be filed for each series of units issued by the trust. 
Form S-6 consists of, among other things, a prospectus, certain written 
consents, an undertaking to file supplementary information, and certain 
exhibits containing financial and other information required in the 
registration statement but not required to appear in the prospectus.
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    \1\ Form N-8B-2 is the form used for registration statements 
filed by unit investment trusts under the 1940 Act (except for unit 
investment trusts that are insurance company separate accounts 
issuing variable annuity or variable life insurance contracts, which 
instead register on Form N-4 and Form N-6, respectively). The form 
requires that certain material information about the trust, its 
sponsor, its trustees, and its operation be disclosed. The 
registration on Form N-8B-2 is a one-time filing that applies to the 
first series of the unit investment trust as well as any subsequent 
series that is issued by the sponsor.
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    Section 10(a)(3) of the 1933 Act (15 U.S.C. 77j(a)(3)) provides 
that when a prospectus is used more than nine months after the 
effective date of the registration statement, the information therein 
shall be as of a date not more than sixteen months prior to such use. 
As a result, most unit investment trusts that are registered under the 
1940 Act on Form N-8B-2 update their registration statements on Form S-
6 on an annual basis in order that their sponsors may continue to 
maintain a secondary market in the units. Unit investment trusts that 
are registered under the 1940 Act on Form N-8B-2 file post-effective 
amendments to their registration statements on Form S-6 in order to 
update their prospectuses.
    The purpose of the registration statement on Form S-6 is to provide 
disclosure of financial and other information that investors may use to 
make informed decisions regarding the merits of the securities offered 
for sale. To that end, unit investment trusts that are registered under 
the 1940 Act on Form N-8B-2 must furnish to investors a prospectus 
containing pertinent information set forth in the registration 
statement. Without the registration requirement, this material 
information would not necessarily be available to investors. The 
Commission reviews registration statements filed on Form S-6 to ensure 
adequate disclosure is made to investors.
    Each year investment companies file approximately 3,080 Forms S-6. 
It is estimated that preparing Form S-6 requires a unit investment 
trust to spend approximately 35 hours so that the total burden of 
preparing Form S-6 for all affected investment companies is 107,800 
hours. Estimates of average burden hours are made solely for the 
purposes of the Paperwork Reduction Act, and are not derived from a 
comprehensive or even a representative survey or study of the costs of 
Commission rules and forms.
    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 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 R. Corey Booth, Director/
Chief Information Officer, Office of Information Technology, Securities 
and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549.

    Dated: September 16, 2004.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-21361 Filed 9-22-04; 8:45 am]
BILLING CODE 8010-01-M