[Federal Register Volume 81, Number 171 (Friday, September 2, 2016)]
[Notices]
[Page 60755]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-21134]



[[Page 60755]]

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SECURITIES AND EXCHANGE COMMISSION


Investment Company Act of 1940; Release No. 32242/August 29, 
2016; Order Under Sections 26(c) and 17(b) of the Investment Company 
Act of 1940 (``Act'')

    In the Matter of:

Allianz Life Insurance Company of North America
Allianz Life Variable Account A
Allianz Life Variable Account B
Allianz Variable Insurance Products Trust

5701 Golden Hills Dr.
Minneapolis, MN 55416-1297

Allianz Life Insurance Company of New York
Allianz Life of NY Variable Account C

28 Liberty Street, 38th Floor
New York, NY 10005-1423

(812-14580):

    Allianz Life Insurance Company of North America, Allianz Life 
Variable Account A, Allianz Life Variable Account B, Allianz Life 
Insurance Company of New York, Allianz Life of NY Variable Account C 
(collectively, the ``Section 26 Applicants''); and Allianz Variable 
Insurance Products Trust (together with the Section 26 Applicants, the 
``Section 17 Applicants'') filed an application on November 16, 2015, 
and an amended and restated application on June 27, 2016. The Section 
26 Applicants requested an order pursuant to section 26(c) of the Act 
to approve the substitutions of shares of certain registered management 
investment companies with shares of certain other registered management 
investment companies (``Substitutions''). The Section 17 Applicants 
requested an order under section 17(b) of the Act exempting them from 
section 17(a) of the Act to the extent necessary to permit them to 
engage in certain in-kind transactions in connection with the 
Substitutions.
    On August 3, 2016, a notice of the filing of the application was 
issued (Investment Company Act Release No. 32207). The notice gave 
interested persons an opportunity to request a hearing and stated that 
an order disposing of the application would be issued unless a hearing 
was ordered. No request for a hearing has been filed, and the 
Commission has not ordered a hearing.
    The matter has been considered, and it is found that the 
Substitutions are consistent with the protection of investors and the 
purposes fairly intended by the policy and provisions of the Act.
    It is also found that the terms of the proposed transactions, 
including the consideration to be paid or received, are reasonable and 
fair and do not involve overreaching on the part of any person 
concerned, and that the proposed transactions are consistent with the 
policy of each registered investment company concerned, as recited in 
its registration statement and reports filed under the Act, and with 
the general purposes of the Act.
    Accordingly, in the matter of Allianz Life Insurance Company of 
North America, et al. (File No. 812-14580),
    It is ordered, under section 26(c) of the Act, that the proposed 
Substitutions are approved, effective immediately, subject to the 
conditions contained in the application, as amended.
    It is further ordered, under section 17(b) of the Act, that the 
requested exemption from section 17(a) of the Act is granted, effective 
immediately, subject to the conditions contained in the application, as 
amended.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-21134 Filed 9-1-16; 8:45 am]
 BILLING CODE 8011-01-P