[Federal Register Volume 60, Number 116 (Friday, June 16, 1995)]
[Notices]
[Pages 31746-31747]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-14746]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. IC-21127; 811-6286]
BITS Trust; Notice of Application
June 9, 1995.
AGENCY: Securities and Exchange Commission (``SEC'').
ACTION: Notice of application for deregistration under the Investment
Company Act of 1940 (the ``1940 Act'').
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APPLICANT: BITS Trust.
RELEVANT 1940 ACT SECTION: Section 8(f).
SUMMARY OF APPLICATION: Applicant seeks an order declaring that it has
ceased to be an investment company under the 1940 Act.
FILING DATE: The application on Form N-8F was filed on May 10, 1995.
HEARING OR NOTIFICATION OF HEARING: An order granting the application
will be issued unless the SEC 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 July 3, 1995,
and should be accompanied by proof of service on the Applicant, in the
form of an affidavit or, for lawyers, a certificate of service. Hearing
requests should state the nature of the writer's interest, the reason
for the request, and the issues contested. Persons who wish to be
notified of a hearing may request notification by writing to the SEC's
Secretary.
ADDRESSES: Secretary, SEC, 450 Fifth Street NW., Washington, D.C.
20549. Applicant, 400 South LaSalle Street, Chicago, Illinois 60605.
FOR FURTHER INFORMATION CONTACT:
H.R. Hallock, Jr., Special Counsel, at (202) 942-0564, or C. David
Messman, Branch Chief, at (202) 942-0564 (Office of Investment Company
Regulation, Division of Investment Management).
SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained for a fee from
the SEC's Public Reference Branch.
Applicant's Representations
1. Applicant, a registered unit investment trust, filed its
notification of
[[Page 31747]]
registration on Form N-8A on March 8, 1991. Applicant never filed a
registration statement under section 8(b) of the 1940 Act or under the
Securities Act of 1933.
2. On March 11, 1991, Applicant filed an application under section
6(c) of the 1940 Act for an exemption from various provisions thereof
that were necessary in light of its organizational structure. Applicant
stated that it intended to organize separate trusts in series form and
to register units of each trust series for listing and trading on the
Chicago Board Options Exchange, Inc. The stated purpose for this type
of investment product was to make available to investors an instrument
that closely tracked the underlying component shares of a stock index
and traded like a share of common stock. The Standard & Poor's 500
Composite Price Index was to serve as the underlying index for the
first trust series. By letter dated November 19, 1991, the SEC granted
Applicant's request for withdrawal of the application.
3. Applicant has never issued or sold any securities and has no
security holders. Applicant has never engaged, and does not propose to
engage, in business activities of any kind.
For the Commission, by the Division of Investment Management,
under delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-14746 Filed 6-15-95; 8:45 am]
BILLING CODE 8010-01-M
