[Federal Register Volume 85, Number 227 (Tuesday, November 24, 2020)]
[Notices]
[Pages 75070-75071]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-25894]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-185, OMB Control No. 3235-0238]


Proposed Collection; Comment Request

Extension:
    Form N-6F

    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'') 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 for extension and approval.
    The title for the collection of information is ``Form N-6F (17 CFR 
274.15), Notice of Intent to Elect to be Subject to Sections 55 through 
65 of the Investment Company Act of 1940.'' The purpose of Form N-6F is 
to notify the Commission of a company's intent to file a notification 
of election to become subject to Sections 55 through 65 of the 
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (``1940 
Act''). Certain companies may have to make a filing with the Commission 
before they are ready to elect to be regulated as a business 
development company.\1\ A company that is excluded from the definition 
of ``investment company'' by Section 3(c)(1) because it has fewer than 
one hundred shareholders and is not making a public offering of its 
securities may lose such an exclusion solely because it proposes to 
make a public offering of securities as a business development company. 
Such company,

[[Page 75071]]

under certain conditions, would not lose its exclusion if it notifies 
the Commission on Form N-6F of its intent to make an election to be 
regulated as a business development company. The company only has to 
file a Form N-6F once.
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    \1\ A company might not be prepared to elect to be subject to 
Sections 55 through 65 of the 1940 Act because its capital structure 
or management compensation plan is not yet in compliance with the 
requirements of those sections.
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    The Commission estimates that on average approximately 4 companies 
file these notifications each year. Each of those companies need only 
make a single filing of Form N-6F. The Commission further estimates 
that this information collection imposes burden of 0.5 hours, resulting 
in a total annual PRA burden of 2 hours. Based on the estimated wage 
rate, the total cost to the industry of the hour burden for complying 
with Form N-6F would be approximately $736.
    The collection of information under Form N-6F is mandatory. The 
information provided under the form is not kept confidential. 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 OMB 
control number.
    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 
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 David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Cynthia 
Roscoe, 100 F Street NE, Washington, DC 20549; or send an email to: 
[email protected].

    Dated: November 18, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-25894 Filed 11-23-20; 8:45 am]
BILLING CODE 8011-01-P