[Federal Register Volume 62, Number 16 (Friday, January 24, 1997)]
[Notices]
[Page 3721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-1679]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collections; Request For Public Comment
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Filings and Information Services, Washington, DC
20549
Extension:
Rule 17a-8, SEC File No. 270-225, OMB Control No. 3235-0235
Form N-8F, SEC File No. 270-136, OMB Control No. 3235-0157
Form N-23C-1, SEC File No. 270-230, OMB Control No. 3235-0230
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 publishing for public comment the
following summaries of previously approved information collection
requirements.
Rule 17a-8 exempts certain mergers and similar business
combinations (``mergers'') of affiliated registered investment
companies (``funds'') from section 17(a)'s prohibitions on purchases
and sales between a fund and its affiliates. The rule requires fund
directors to consider certain issues and to record their findings in
board minutes. The average annual burden of meeting the requirements of
Rule 17a-8 is estimated to be 1.5 hours for each fund. The Commission
estimates that about seventeen funds rely each year on the rule. The
total average annual burden for all respondents is therefore twenty-six
hours.
For N-8F is the form prescribed for use by registered investment
companies in certain circumstances to request orders of the Commission
declaring that they have ceased to be investment companies. The form
takes approximately 6 hours to complete. It is estimated that
approximately 160 investment companies file Form N-8F annually, for a
total annual burden of 960 hours.
For N-23C-1 assists the Commission and the public in monitoring
repurchases by closed-end investment companies (``closed-end funds'')
of their own securities under Rule 23c-1, which permits such
repurchases in limited circumstances subject to certain safeguards. The
form, which must be filed within the first 10 days of the calendar
month following any month in which securities are repurchased, requires
the closed-end fund to report certain information including the date,
amount, and price of repurchases and other information. It is estimated
that four closed-end funds are affected by the rule each year, and that
they file approximately 23 reports in total each year (based on the
average of 0 to 12 reports filed annually by each fund) requiring one
hour per report, for a total of 23 annual burden hours.
Written comments are requested on: (a) Whether the collections of
information are necessary for the proper performance of the functions
of the Commission, including whether the information has practical
utility; (b) the accuracy of the Commission's estimate of the burdens
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.
Direct your written comments to Michael E. Bartell, Associate
Executive Director, Office of Information Technology, Securities and
Exchange Commission, 450 5th Street, NW., Washington, DC 20549.
Dated: January 16, 1997.
Jonathan G. Katz,
Secretary.
[FR Doc. 97-1679 Filed 1-23-97; 8:45 am]
BILLING CODE 8010-01-M
