[Federal Register Volume 62, Number 136 (Wednesday, July 16, 1997)]
[Notices]
[Page 38149]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-18608]
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SECURITIES AND EXCHANGE COMMISSION
[Rel. No. IC-22743; No 811-8744]
Variable Account Three
July 9, 1997.
AGENCY: Securities and Exchange Commission (``SEC'' or ``Commission'').
ACTION: Notice of application for an order under the Investment Company
Act of 1940 (``1940 Act'').
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APPLICANT: Variable Annuity Account Three.
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 November 8, 1996 and amended
on June 9, 1997.
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 Secretary of the SEC
and serving the Applicant with a copy of the request, in person or by
mail. Hearing requests must be received by the SEC by 5:30 p.m., on
August 4, 1997, 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. Any
person may request notification of a hearing by writing to the
Secretary of the SEC.
ADDRESSES: Secretary, Securities and Exchange Commission, 450 5th
Street, N.W., Washington, D.C. 20549. Applicant, C/O Anchor National
Life Insurance Company, 1 SunAmerica Center, Los Angeles, California
90067-6022.
FOR FURTHER INFORMATION CONTACT: Joyce Merrick Pickholz, Senior
Counsel, or Kevin M. Kirchoff, Branch Chief, Office of Insurance
Products (Division of Investment Management), at (202) 942-0670.
SUPPLEMENTARY INFORMATION: Following is a summary of the application.
The complete application is available for a fee from the Public
Reference Branch of the Commission.
Applicant's Representations
1. The Applicant, a unit investment trust, is a segregated asset
account of Anchor National Life Insurance Company (``Anchor
National''). On August 31, 1994, the Applicant filed a notification of
registration as an investment company on Form N-8A, and a registration
statement on Form N-4 (File No. 33-83476) to register under the
Securities Act of 1933 interests in certain variable annuity contracts
(the ``Pacific Contrasts'') issued by Anchor National through the
Applicant. The registration statement was declared effective on April
28, 1995.
2. The Applicant filed post-effective amendments to its
registration statement on Form N-4 in December 1995 and, on January 2,
1996, the Applicant began offering the Pacifica Contracts to the public
under a selling agreement between Anchor National and First Interstate
Bancorp (``First Interstate''). First Interstate also served as the
advisor to the mutual fund portfolios offered as investment options
under the Contracts.
3. In April 1996, First Interstate merged with and into Wells Fargo
and Company (``Wells Fargo''). Wells Fargo did not wish to offer its
mutual funds as investment options for the Contracts and Contract sales
were discontinued. No Contracts were sold after May 13, 1996 and, by
September 27, 1996, all of the owners of Pacifica Contracts had
voluntarily redeemed their Contracts or transferred the value of their
Contracts to another annuity or investment product.
4. The Board of Directors of Anchor National authorized the
dissolution of Applicant, pursuant to Arizona Insurance Law, on
September 30, 1996.
5. Applicant has not, within the last 18 months, transferred any of
its assets to a separate trust, the beneficiaries of which were or are
securityholders of Applicant. No distributions were made to
securityholders of Applicant in connection with Applicant's dissolution
and all securityholders of Applicant redeemed or transferred their
Contract values prior to the Applicant's dissolution.
6. No assets have been retained by the Applicant, no debts of the
Applicant remain outstanding, the Applicant is not a party to any
litigation or administrative proceeding and there were no
securityholders of Applicant as of the date of the filing of this
application.
7. Applicant is not engaged in, and does not propose to engage in,
any business activities other than those necessary for the winding-up
of its affairs. For the Commission, by the Division of Investment
Management pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-18608 Filed 7-15-97; 8:45 am]
BILLING CODE 8010-01-M
