Proposed Collection; Comment Request, 72864-72865 [E5-6980]
Download as PDF
<![CDATA[
72864
Federal Register / Vol. 70, No. 234 / Wednesday, December 7, 2005 / Notices
www.nrc.gov/reading-rm/adams.html,
under Accession #ML052970092.
In addition, regulatory guides are
available for inspection at the NRC’s
Public Document Room (PDR), which is
located at 11555 Rockville Pike,
Rockville, Maryland; the PDR’s mailing
address is USNRC PDR, Washington, DC
20555–0001. The PDR can also be
reached by telephone at (301) 415–4737
or (800) 397–4205, by fax at (301) 415–
3548, and by e-mail to PDR@nrc.gov.
Requests for single copies of draft or
final guides (which may be reproduced)
or for placement on an automatic
distribution list for single copies of
future draft guides in specific divisions
should be made in writing to the U.S.
Nuclear Regulatory Commission,
Washington, DC 20555–0001, Attention:
Reproduction and Distribution Services
Section; by e-mail to
DISTRIBUTION@nrc.gov; or by fax to
(301) 415–2289. Telephone requests
cannot be accommodated.
Regulatory guides are not
copyrighted, and Commission approval
is not required to reproduce them.
(Authority: (5 U.S.C. 552(a)).
Dated at Rockville, Maryland, this 30th day
of November, 2005.
For the U.S. Nuclear Regulatory
Commission.
Carl J. Paperiello,
Director, Office of Nuclear Regulatory
Research.
[FR Doc. E5–6984 Filed 12–6–05; 8:45 am]
BILLING CODE 7590–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Filings and
Information Services, Washington, DC
20549.
Extension: Form 12b–25; OMB Control
No. 3235–0058; SEC File No. 270–
71.
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 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 purpose of Form 12b–25 is to
provide notice to the Commission and
the marketplace that a public company
13:01 Dec 06, 2005
Jkt 208001
Dated: November 30, 2005.
Jonathan G. Katz,
Secretary.
[FR Doc. E5–6979 Filed 12–6–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
VerDate Aug<31>2005
will be unable to timely file a required
periodic report. If all filing conditions
are met, the company is granted an
automatic filing extension. Form 12b–25
is filed by publicly held companies.
Approximately 7,799 issuers file Form
12b–25 and it takes approximately 2.5
hours per response for a total of 19,498
burden hours.
Written comments are invited on: (a)
Whether this 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 R. Corey Booth, Director/Chief
Information Officer, Office of
Information Technology, Securities and
Exchange Commission, 100 F Street,
NE., Washington, DC 20549.
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Filings and
Information Services, Washington, DC
20549.
Extension: Rule 18f–3; SEC File No. 270–385;
OMB Control No. 3235–0441
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520), the Securities
and Exchange Commission (the
‘‘Commission’’) is soliciting comments
on the collections of information
summarized below. The Commission
plans to submit these existing
collections of information to the Office
of Management and Budget (‘‘OMB’’) for
extension and approval.
PO 00000
Frm 00087
Fmt 4703
Sfmt 4703
Section 18(f)(1) 1 of the Investment
Company Act of 1940 2 (the ‘‘Investment
Company Act’’) prohibits registered
open-end management investment
companies (‘‘funds’’) from issuing any
senior security. Rule 18f–3 under the
Act 3 exempts from section 18(f)(1) a
fund that issues multiple classes of
shares representing interests in the same
portfolio of securities (a ‘‘multiple class
fund’’) if the fund satisfies the
conditions of the rule. In general, each
class must differ in its arrangement for
shareholder services or distribution or
both, and must pay the related expenses
of that different arrangement.
The rule includes one requirement for
the collection of information. A
multiple class fund must prepare, and
fund directors must approve, a written
plan setting forth the separate
arrangement and expense allocation of
each class, and any related conversion
features or exchange privileges (‘‘rule
18f–3 plan’’).4 Approval of the plan
must occur before the fund issues any
shares of multiple classes and whenever
the fund materially amends the plan. In
approving the plan, a majority of the
fund board, including a majority of the
fund’s independent directors, must
determine that the plan is in the best
interests of each class and the fund as
a whole.
The requirement that the fund prepare
and directors approve a written rule
18f–3 plan is intended to ensure that the
fund compiles information relevant to
the fairness of the separate arrangement
and expense allocation for each class,
and that directors review and approve
the information. Without a blueprint
that highlights material differences
among classes, directors might not
perceive potential conflicts of interests
when they determine whether the plan
is in the best interests of each class and
the fund. In addition, the plan may be
useful to Commission staff in reviewing
the fund’s compliance with the rule.
There are approximately 1,142
multiple class funds.5 Based on a review
of typical rule 18f–3 plans, the
Commission’s staff estimates that the
1,142 funds together make an average of
571 responses each year to prepare and
approve a written rule 18f–3 plan,
requiring approximately 10 hours per
response and a total of 5,710 burden
hours per year in the aggregate.6 The
1 15
U.S.C. 80a–18(f)(1).
U.S.C. 80a.
3 17 CFR 270.18f–3.
4 Rule 18f–3(d).
5 This estimate is based on data from Form N–
SAR, the semi-annual report that funds file with the
Commission.
6 The estimate reflects the assumption that each
multiple class fund prepares and approves a rule
2 15
E:\FR\FM\07DEN1.SGM
07DEN1
Federal Register / Vol. 70, No. 234 / Wednesday, December 7, 2005 / Notices
staff estimates that preparation of the
rule 18f–3 plan may require 4 hours of
the services of an attorney or accountant
employed by the firm, at a cost of
approximately $140 per hour for
professional time,7 and approval of the
plan may require 1 hour of the attention
of each of 6 directors, at a cost of
approximately $635 per hour per
director.8 The staff therefore estimates
that the aggregate annual cost of
complying with the paperwork
requirements of the rule is
approximately $2,495,270 ((4 hours × 1
professional × 571 responses × $140) +
(1 hour × 6 directors × 571 responses ×
$635)).
The estimated annual burden of 5,710
hours represents an increase of 937
hours over the prior estimate of 4,773
hours. The increase in burden hours is
attributable to a change in estimates of
the number of multiple class funds that
are subject to the rule based on recent
Commission filings. For the most part,
however, most funds require less time to
prepare the rule 18f–3 plans because
they only need to amend existing plans.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act. The estimate
is not derived from a comprehensive or
even a representative survey or study of
the costs of Commission rules.
Complying with this collection of
information requirement is mandatory.
Responses will not be 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 control
number.
Written comments are invited on: (a)
Whether the collections of information
are necessary for the proper
performance of the functions of the
Commission, including whether the
18f–3 plan every two years when issuing a new
class or amending a plan (or that 571 of all 1,142
funds prepare and approve a plan each year). The
estimate assumes that the time required to prepare
a plan is 4 hours per plan (or 2,284 hours for 571
funds annually), and the time required to approve
a plan is an additional 1 hour per director per plan
(or 3,426 hours for 571 funds annually (assuming
6 directors per fund)).
7 Hourly rates are derived from salary information
compiled by the Securities Industry Association.
We used the annual salary listed for the Deputy
General Counsel position, adjusted upward by 35%
to reflect possible overhead costs and employee
benefits, to make our estimate. See Securities
Industry Association, Report on Management and
Professional Earnings in the Securities Industry
(2004) (available in part at https://
www.careerjournal.com/salaryhiring (last visited
Nov. 17, 2005)).
8 Hourly rates are based on previous estimates,
adjusted to reflect a 27% reported increase in
compensation during the 2003–2004 period. See
Management Practice Inc. Bulletin: More Meetings
Means More Pay for Fund Directors (April 2005)
(available at https://www.mfgovern.com).
VerDate Aug<31>2005
13:01 Dec 06, 2005
Jkt 208001
information has practical utility; (b) the
accuracy of the Commission’s estimate
of the burdens of the collections of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burdens of the collections
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 R. Corey Booth, Director/Chief
Information Officer, Office of
Information Technology, Securities and
Exchange Commission, 100 F Street,
NE., Washington, DC 20549.
Dated: November 29, 2005.
Jonathan G. Katz,
Secretary.
[FR Doc. E5–6980 Filed 12–6–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
Issuer Delisting; Notice of Application
of Applera Corporation To Withdraw Its
Applera Corporation-Applied
Biosystems Group Common Stock
$.01 Par Value, Together With Rights
To Purchase Series A Participating
Junior Preferred Stock, $.01 Par Value,
and Applera Corporation-Celera
Genomics Group Common Stock, $.01
Par Value, Together With Rights To
Purchase Series B Participating Junior
Preferred Stock, $.01 Par Value, From
Listing and Registration on the Pacific
Exchange, Inc. File No. 1–04389
December 1, 2005.
On November 14, 2005, Applera
Corporation, a Delaware corporation
(‘‘Issuer’’), filed an application with the
Securities and Exchange Commission
(‘‘Commission’’), pursuant to section
12(d) of the Securities Exchange Act of
1934 (‘‘Act’’)1 and Rule 12d2–2(d)
thereunder,2 to withdraw its Applera
Corporation-Applied Biosystems Group
common stock $.01 par value, together
with rights to purchase series A
participating junior preferred stock, $.01
par value, and Applera CorporationCelera Genomics Group common stock,
$.01 par value, together with rights to
purchase series B participating junior
preferred stock, $.01 par value
(collectively ‘‘Securities’’), from listing
1 15
2 17
PO 00000
U.S.C. 78l(d).
CFR 240.12d2–2(d).
Frm 00088
Fmt 4703
and registration on the Pacific
Exchange, Inc. (‘‘PCX’’).
The Board of Directors (‘‘Board’’) of
the Issuer approved a resolution on June
16, 2005 to withdraw the Securities
from PCX. The Issuer stated that the
Board determined that it is in the best
interest of the Issuer and its
stockholders to withdraw the Securities
from PCX to avoid the direct and
indirect costs associated with the listing
of the Securities on PCX since the
Securities are listed and traded on the
New York Stock Exchange, Inc.
(‘‘NYSE’’).
The Issuer stated in its application
that it has complied with applicable
rules of PCX by providing PCX with the
required documents governing the
withdrawal of securities from listing
and registration on PCX. The Issuer’s
application relates solely to the
withdrawal of the Securities from listing
on PCX and shall not affect its
continued listing on NYSE or its
obligation to be registered under section
12(b) of the Act.3
Any interested person may, on or
before December 23, 2005, comment on
the facts bearing upon whether the
application has been made in
accordance with the rules of PCX, and
what terms, if any, should be imposed
by the Commission for the protection of
investors. All comment letters may be
submitted by either of the following
methods:
Electronic Comments
• Send an e-mail to rulecomments@sec.gov. Please include the
File Number 1–04389 or;
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
100 F Street, NE.,Washington, DC
20549–9303.
All submissions should refer to File
Number 1–04389. This file number
should be included on the subject line
if e-mail is used. To help us process and
review your comments more efficiently,
please use only one method. The
Commission will post all comments on
the Commission’s Internet Web site
(https://www.sec.gov/rules/delist.shtml).
Comments are also available for public
inspection and copying in the
Commission’s Public Reference Room.
All comments received will be posted
without change; we do not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly.
3 15
Sfmt 4703
72865
E:\FR\FM\07DEN1.SGM
U.S.C. 781(b).
07DEN1
]]>Agencies
[Federal Register Volume 70, Number 234 (Wednesday, December 7, 2005)]
[Notices]
[Pages 72864-72865]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-6980]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Filings and Information Services, Washington, DC
20549.
Extension: Rule 18f-3; SEC File No. 270-385; OMB Control No. 3235-
0441
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501-3520), the Securities and Exchange
Commission (the ``Commission'') is soliciting comments on the
collections of information summarized below. The Commission plans to
submit these existing collections of information to the Office of
Management and Budget (``OMB'') for extension and approval.
Section 18(f)(1) \1\ of the Investment Company Act of 1940 \2\ (the
``Investment Company Act'') prohibits registered open-end management
investment companies (``funds'') from issuing any senior security. Rule
18f-3 under the Act \3\ exempts from section 18(f)(1) a fund that
issues multiple classes of shares representing interests in the same
portfolio of securities (a ``multiple class fund'') if the fund
satisfies the conditions of the rule. In general, each class must
differ in its arrangement for shareholder services or distribution or
both, and must pay the related expenses of that different arrangement.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 80a-18(f)(1).
\2\ 15 U.S.C. 80a.
\3\ 17 CFR 270.18f-3.
---------------------------------------------------------------------------
The rule includes one requirement for the collection of
information. A multiple class fund must prepare, and fund directors
must approve, a written plan setting forth the separate arrangement and
expense allocation of each class, and any related conversion features
or exchange privileges (``rule 18f-3 plan'').\4\ Approval of the plan
must occur before the fund issues any shares of multiple classes and
whenever the fund materially amends the plan. In approving the plan, a
majority of the fund board, including a majority of the fund's
independent directors, must determine that the plan is in the best
interests of each class and the fund as a whole.
---------------------------------------------------------------------------
\4\ Rule 18f-3(d).
---------------------------------------------------------------------------
The requirement that the fund prepare and directors approve a
written rule 18f-3 plan is intended to ensure that the fund compiles
information relevant to the fairness of the separate arrangement and
expense allocation for each class, and that directors review and
approve the information. Without a blueprint that highlights material
differences among classes, directors might not perceive potential
conflicts of interests when they determine whether the plan is in the
best interests of each class and the fund. In addition, the plan may be
useful to Commission staff in reviewing the fund's compliance with the
rule.
There are approximately 1,142 multiple class funds.\5\ Based on a
review of typical rule 18f-3 plans, the Commission's staff estimates
that the 1,142 funds together make an average of 571 responses each
year to prepare and approve a written rule 18f-3 plan, requiring
approximately 10 hours per response and a total of 5,710 burden hours
per year in the aggregate.\6\ The
[[Page 72865]]
staff estimates that preparation of the rule 18f-3 plan may require 4
hours of the services of an attorney or accountant employed by the
firm, at a cost of approximately $140 per hour for professional
time,\7\ and approval of the plan may require 1 hour of the attention
of each of 6 directors, at a cost of approximately $635 per hour per
director.\8\ The staff therefore estimates that the aggregate annual
cost of complying with the paperwork requirements of the rule is
approximately $2,495,270 ((4 hours x 1 professional x 571 responses x
$140) + (1 hour x 6 directors x 571 responses x $635)).
---------------------------------------------------------------------------
\5\ This estimate is based on data from Form N-SAR, the semi-
annual report that funds file with the Commission.
\6\ The estimate reflects the assumption that each multiple
class fund prepares and approves a rule 18f-3 plan every two years
when issuing a new class or amending a plan (or that 571 of all
1,142 funds prepare and approve a plan each year). The estimate
assumes that the time required to prepare a plan is 4 hours per plan
(or 2,284 hours for 571 funds annually), and the time required to
approve a plan is an additional 1 hour per director per plan (or
3,426 hours for 571 funds annually (assuming 6 directors per fund)).
\7\ Hourly rates are derived from salary information compiled by
the Securities Industry Association. We used the annual salary
listed for the Deputy General Counsel position, adjusted upward by
35% to reflect possible overhead costs and employee benefits, to
make our estimate. See Securities Industry Association, Report on
Management and Professional Earnings in the Securities Industry
(2004) (available in part at https://www.careerjournal.com/
salaryhiring (last visited Nov. 17, 2005)).
\8\ Hourly rates are based on previous estimates, adjusted to
reflect a 27% reported increase in compensation during the 2003-2004
period. See Management Practice Inc. Bulletin: More Meetings Means
More Pay for Fund Directors (April 2005) (available at https://
www.mfgovern.com).
---------------------------------------------------------------------------
The estimated annual burden of 5,710 hours represents an increase
of 937 hours over the prior estimate of 4,773 hours. The increase in
burden hours is attributable to a change in estimates of the number of
multiple class funds that are subject to the rule based on recent
Commission filings. For the most part, however, most funds require less
time to prepare the rule 18f-3 plans because they only need to amend
existing plans.
The estimate of average burden hours is made solely for the
purposes of the Paperwork Reduction Act. The estimate is not derived
from a comprehensive or even a representative survey or study of the
costs of Commission rules. Complying with this collection of
information requirement is mandatory. Responses will not be 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 control number.
Written comments are invited 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 collections of information; (c) ways to enhance the quality,
utility, and clarity of the information collected; and (d) ways to
minimize the burdens of the collections 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 R. Corey Booth, Director/
Chief Information Officer, Office of Information Technology, Securities
and Exchange Commission, 100 F Street, NE., Washington, DC 20549.
Dated: November 29, 2005.
Jonathan G. Katz,
Secretary.
[FR Doc. E5-6980 Filed 12-6-05; 8:45 am]
BILLING CODE 8010-01-P
