[Federal Register Volume 59, Number 26 (Tuesday, February 8, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-2828]
[[Page Unknown]]
[Federal Register: February 8, 1994]
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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-20048; No. 811-1671]
The Travelers Fund B-1 For Variable Contracts February 1, 1994.
AGENCY: Securities and Exchange Commission (``SEC'' or ``Commission'').
ACTION: Notice of application for an order under the investment Company
Act of 1940 (the ``1940 Act'').
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APPLICANT: The Travelers Fund B For Variable Contracts (``Applicant'').
RELEVANT 1940 ACT SECTION: Order requested under Section 8(f) of the
1940 Act.
SUMMARY OF APPLICATION: Applicant seeks an order declaring that it has
ceased to be an investment company as defined by the 1940 Act.
FILING DATE: The application was filed on December 8, 1993 and amended
on January 26, 1994.
HEARING OR NOTIFICATION OF HEARING: An order granting the Application
will be issued unless the Commission orders a hearing. Interested
persons may request a hearing by writing to the SEC's Secretary and
serving Applicant with a copy of the request, personally or by mail.
Hearing requests should be received by the SEC by 5:30 p.m. on January
28, 1994, and should be accompanied by proof of service on Applicant in
the form of an affidavit or, for lawyers, a certificate of service.
Hearing requests should state the nature of the requestors' interest,
the reason for the request, and the issues contested. Persons may
request notification of a hearing by writing to the Secretary of the
SEC.
ADDRESSES: Secretary, Securities and Exchange Commission, 450 5th
Street NW., Washington, DC 20549. Applicant, One Tower Square,
Hartford, Connecticut 06183.
FOR FURTHER INFORMATION CONTACT:
Yvonne M. Hunold, Senior Counsel, on (202) 272-2676, or Michael V.
Wible, Special Counsel, on (202) 272-2060, Office of Insurance Products
(Division of Investment Management).
SUPPLEMENTARY INFORMATION: Following is a summary of the application;
the complete application is available for a fee from the SEC's Public
Reference Branch.
APPLICANT'S REPRESENTATIONS:
1. Applicant, a diversified open-end management company, is a
Separate Account formed under Connecticut insurance laws by The
Travelers Insurance Company (``Travelers''), a life insurance company
domiciled in Connecticut.
2. On June 10, 1968, Applicant filed a Notice of Registration on
Form N-8B-1 under Section 8(b) of the 1940 Act (File No. 811-2583) and
a Registration Statement on Form S-5 under the Securities Act of 1933
(File No. 2-54173) to register units of interest of variable annuity
contracts (``Contracts''). Applicant's Registration Statement became
effective on December 18, 1968 and the initial public offering
commenced on that date.
3. On November 19, 1993, the Contracts were exchanged for another
Travelers' variable annuity contract (``New Contract``) pursuant to an
offer of exchange extended by Travelers to Contractowners on September
10, 1992. All Contractowners contacted either consented to the offer to
exchange or surrendered their contracts. The New Contract has as an
investment option The Travelers Growth and Income Stock Account for
Variable Annuities (``Account GS''). Account GS is an investment
company with identical investment objectives, adviser and management
fees as the Applicant. The charges under the New Contract are equal to
or lower than those under the existing Contract. All units in Applicant
held under the existing contracts were exchanged for units of equal
value in Account GS under the New Contract. The offer of exchange was
made in compliance with Rule 11a-2 under the 1940 Act. All portfolio
securities of the Applicant were transferred to Account GS, valued on
the basis of net asset values of the securities as determined in
accordance with the methods set forth in the Statement of Additional
Information of the Applicant and Account GS. No brokerage commissions
were paid. The transfer of portfolio securities was made pursuant to a
Commission order under section 17(b) granting an exemption from Section
17(a) of the 1940 Act. (Release No. 1C-19232, File No. 812-8172.)
4. As of November 18, 1993, Applicant had 1,769,541.5358 units of
interest outstanding and net assets of $13,238,482.89, representing
7,467170 Contracts issued prior to December 23, 1983 and 7.289487
Contracts issued subsequent to that date.
5. Any expenses connected with the offer of exchange of the
liquidation of the Applicant will be paid by Travelers.
6. Applicant has no remaining assets, and no debts or liabilities
remain outstanding. No distributions were made to Applicant's
securityholders. Applicant is not a party to any litigation or
administrative proceeding. There are no securityholders of Applicant.
7. Applicant is not now engaged nor does it propose to engage in
any business activities other than those necessary for the winding-up
of its affairs.
8. Applicant has not, within the last 18 months, transferred any of
its assets to a separate trust, the beneficiaries of which were or are
security holders of Applicant.
9. Travelers intends to notify the Connecticut and New York
Insurance Departments, each having approved the transfer of assets,
that it no longer intends to utilize the Applicant as a separate
account.
10. Applicant has made on a timely basis all filings on Form N-SAR
required under the 1940 Act. Applicant's last filing on Form N-SAR for
the period ended June 30, 1993, was made on or before August 30, 1993.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-2828 Filed 2-7-94; 8:45 am]
BILLING CODE 8010-01-M
