Proposed Collection; Comment Request, 11688-11689 [E6-3280]

Download as PDF 11688 Federal Register / Vol. 71, No. 45 / Wednesday, March 8, 2006 / Notices Secondary Education. Effective January 24, 2006. DBGS00501 Special Assistant to the Deputy Secretary of Education. Effective January 24, 2006. DBGS00503 Deputy Secretary’s Regional Representative, Region 1 to the Director, Regional Services. Effective January 25, 2006. DBGS00504 Confidential Assistant to the Secretary. Effective January 26, 2006. Section 213.3318 Environmental Protection Agency EPGS05006 Speech Writer to the Deputy Associate Administrator. Effective January 06, 2006. EPGS05005 Deputy to the Press Secretary to the Deputy Associate Administrator. Effective January 27, 2006. EPGS06000 Senior Policy Advisor to the Regional Administrator. Effective January 30, 2006. Section 213.3325 Court United States Tax JCGS60054 Secretary (Confidential Assistant) to the Chief Judge. Effective January 09, 2006. Section 213.3328 of Governors Broadcasting Board IBGS00022 Communications Coordinator to the Chairman, Broadcasting Board of Governors. Effective January 20, 2006. Section 213.3330 Securities and Exchange Commission SEOT60012 Investor Advocate to the Chairman. Effective January 27, 2006. erjones on PROD1PC68 with NOTICES Section 213.3331 Energy Department of DEGS00504 Special Assistant to the Director, Public Affairs. Effective January 12, 2006. DEGS00505 Speechwriter to the Director, Public Affairs. Effective January 19, 2006. DEGS00508 Special Assistant to the Assistant Secretary for Congressional and Intergovernmental Affairs. Effective January 19, 2006. DEGS00502 Senior Advisor for Intergovernmental and External Affairs to the Deputy Assistant Secretary for Intergovernmental and External Affairs. Effective January 25, 2006. DEGS00506 Special Program Assistant to the Assistant Secretary of Energy (Environmental Management). Effective January 25, 2006. DEGS00509 Staff Assistant to the General Counsel. Effective January 25, 2006. VerDate Aug<31>2005 17:23 Mar 07, 2006 Jkt 208001 DEGS00510 Advance Representative to the Director, Office of Scheduling and Advance. Effective January 25, 2006. Section 213.3337 General Services Administration GSGS60024 Special Assistant to the Commissioner, Public Buildings Service. Effective January 24, 2006. Section 213.3339 United States International Trade Commission TCGS00010 Staff Assistant (Legal) to a Commissioner. Effective January 30, 2006. Section 213.3352 Government Printing Office GPOT00004 Public Affairs Specialist to the Deputy Chief of Staff. Effective January 20, 2006 Section 213.3353 Merit Systems Protection Board MPGS00003 Confidential Assistant to a Board Member. Effective January 27, 2006. Section 213.3357 National Credit Union Administration CUOT01008 Senior Policy Advisor to a Member. Effective January 10, 2006. CUOT09158 Director of Public and Congressional Affairs to the Chairman. Effective January 10, 2006. Section 213.3384 Department of Housing and Urban Development DUGS60273 Staff Assistant to the Deputy Secretary, Housing and Urban Development. Effective January 20, 2006. Section 213.3394 Department of Transportation DTGS60311 Special Assistant to the Director for Scheduling and Advance. Effective January 20, 2006. Authority: 5 U.S.C. 3301 and 3302; E.O. 10577, 3 CFR 1954–1958 Comp., P.218. Office of Personnel Management. Linda M. Springer, Director. [FR Doc. E6–3224 Filed 3–7–06; 8:45 am] BILLING CODE 6325–39–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copy Available From: Securities and Exchange Commission Office of Filings and Information Services, Washington, DC 20549. PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 Extension: Form N–6F; SEC File No. 270–185; OMB Control No. 3235–0238. 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 (the ‘‘Commission’’) is soliciting comments on the collections of information summarized below. The Commission plans to submit the existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval: Form N–6F Under the Investment Company Act of 1940 (17 CFR 274.15), Notice of Intent To Elect To Be Subject to Sections 55 Through 65 of the Investment Company Act of 1940 Certain companies may have to make a filing with the Commission before they are ready to elect to be regulated as a business development company.1 A company that is excluded from the definition of ‘‘investment company’’ by Section 3(c)(1) of the Investment Company Act of 1940 because it has fewer than one hundred shareholders and is not making a public offering of its securities may lose such an exclusion solely because it proposes to make a public offering of securities as a business development company. Such a company, under certain conditions, would not lose its exclusion if it notifies the Commission on Form N–6F [17 CFR 274.15] of its intent to make an election to be regulated as a business development company. The company only has to file a Form N–6F once. It is estimated that 2 respondents per year file with the Commission a Form N–6F. Form N–6F requires approximately 0.5 burden hours per response resulting from creating and filing the information required by the Form. The total burden hours for Form N–6F would be 1 hour per year in the aggregate. The estimated annual burden of 1.0 hour represents no change from the prior estimate of 1.0 hour. The estimate of average burden hours for Form N–6F is made solely for the purposes of the Paperwork Reduction Act and is not derived from a comprehensive or even representative survey or study of the costs of Commission rules and forms. Written comments are invited on: (a) Whether the proposed collections of information are necessary for the proper performance of the functions of the agency, including whether the 1 A company might not be prepared to elect to be subject to sections 55 through 65 of the Investment Company Act of 1940 because its capital structure or management compensation plan is not yet in compliance with the requirements of those sections. E:\FR\FM\08MRN1.SGM 08MRN1 Federal Register / Vol. 71, No. 45 / Wednesday, March 8, 2006 / Notices information will have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collections of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden 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: February 28, 2006. Nancy M. Morris, Secretary. [FR Doc. E6–3280 Filed 3–7–06; 8:45 am] BILLING CODE 8010–01–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. erjones on PROD1PC68 with NOTICES Extension: Rule 11a–3; SEC File No. 270–321; OMB Control No. 3235–0358. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 [44 U.S.C. 3501–3520], the Securities and Exchange Commission (‘‘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 11(a) of the Investment Company Act of 1940 (‘‘Act’’) [15 U.S.C. 80a–11(a)] provides that it is unlawful for a registered open-end investment company (‘‘fund’’) or its underwriter to make an offer to the fund’s shareholders or the shareholders of any other fund to exchange the fund’s securities for securities of the same or another fund on any basis other than the relative net asset values (‘‘NAVs’’) of the respective securities to be exchanged, ‘‘unless the terms of the offer have first been submitted to and approved by the Commission or are in accordance with such rules and regulations as the VerDate Aug<31>2005 15:53 Mar 07, 2006 Jkt 208001 Commission may have prescribed in respect of such offers.’’ Section 11(a) was designed to prevent ‘‘switching,’’ the practice of inducing shareholders of one fund to exchange their shares for the shares of another fund for the purpose of exacting additional sales charges. Rule 11a–3 under the Act [17 CFR 270.11a–3] is an exemptive rule that permits open-end investment companies (‘‘funds’’), other than insurance company separate accounts, and funds’ principal underwriters, to make certain exchange offers to fund shareholders and shareholders of other funds in the same group of investment companies. The rule requires a fund, among other things, (i) to disclose in its prospectus and advertising literature the amount of any administrative or redemption fee imposed on an exchange transaction, (ii) if the fund imposes an administrative fee on exchange transactions, other than a nominal one, to maintain and preserve records with respect to the actual costs incurred in connection with exchanges for at least six years, and (iii) give the fund’s shareholders a sixty day notice of a termination of an exchange offer or any material amendment to the terms of an exchange offer (unless the only material effect of an amendment is to reduce or eliminate an administrative fee, sales load or redemption fee payable at the time of an exchange). The rule’s requirements are designed to protect investors against abuses associated with exchange offers, provide fund shareholders with information necessary to evaluate exchange offers and certain material changes in the terms of exchange offers, and enable the Commission staff to monitor funds’ use of administrative fees charged in connection with exchange transactions. There are approximately 2,300 active open-end funds registered with the Commission as of December 31, 2005. The staff estimates that 25 percent of these funds impose a non-nominal administrative fee on exchange transactions. The staff estimates that the recordkeeping requirement of the rule requires approximately 1 hour annually of clerical time (at an estimated $23 per hour) 1 per fund, for a total of 575 hours for all funds (at a total annual cost of 1 All hourly rates are derived from the average annual salaries reported for employees outside of New York City in Securities Industry Association, Management and Professional Earnings in the Securities Industry (2003) and Securities Industry Association, Office Salaries in the Securities Industry (2003), and have been adjusted upwards through established formulas to reflect overhead and the increase in salaries since the report was published. PO 00000 Frm 00117 Fmt 4703 Sfmt 4703 11689 $13,225).2 The staff estimates that 25 percent of the 2300 funds terminate an exchange offer or make a material change to the terms once each year, and that the notice requirement of the rule requires approximately 1 hour of professional time (at an estimated $81 per hour) and 2 hours of clerical time (at an estimated $23 per hour) per fund, for a total of approximately 1,725 hours for all funds to comply with the notice requirement (at a total annual cost of $73,025).3 The recordkeeping and notice requirements impose a total burden of 2,300 hours on all funds (at a total annual cost of $86,250).4 The burdens associated with the disclosure requirement of the rule are accounted for in the burdens associated with the Form N–1A registration statement for funds. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules and forms. 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 requested on: (a) Whether the collection of information is 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 burden[s] 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. 2 This estimate is based on the following calculations: (2,300 funds × 0.25% = 575 funds); (575 × 1 (clerical hour) = 575 clerical hours); (575 × $23 = $13,225 total annual cost for recordkeeping requirement). 3 This estimate is based on the following calculations: (2,300 (funds) × 0.25% = 575 funds); (575 × 1 (professional hour) = 575 total professional hours); (575 (funds) × 2 (clerical hours) = 1,150 total clerical hours); (575 (professional hours) + 1,150 (clerical hours) = 1,725 total hours); (575 (professional hours) × $81 = $46,575 total professional cost); (1,150 (clerical hours) × $23 = $26,450 clerical cost); ($46,575 + $26,450 = $73,025 total annual cost). 4 This estimate is based on the following calculations: (1,725 (notice hours) + 575 (recordkeeping hours) = 2,300 total hours); ($73,025 (notice costs) + $13,225 (recordkeeping costs) = $86,250 total annual costs). E:\FR\FM\08MRN1.SGM 08MRN1

Agencies

[Federal Register Volume 71, Number 45 (Wednesday, March 8, 2006)]
[Notices]
[Pages 11688-11689]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-3280]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copy Available From: Securities and Exchange 
Commission Office of Filings and Information Services, Washington, DC 
20549.

Extension:
    Form N-6F; SEC File No. 270-185; OMB Control No. 3235-0238.

    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 (the ``Commission'') is soliciting comments on the 
collections of information summarized below. The Commission plans to 
submit the existing collection of information to the Office of 
Management and Budget (``OMB'') for extension and approval:

Form N-6F Under the Investment Company Act of 1940 (17 CFR 274.15), 
Notice of Intent To Elect To Be Subject to Sections 55 Through 65 of 
the Investment Company Act of 1940

    Certain companies may have to make a filing with the Commission 
before they are ready to elect to be regulated as a business 
development company.\1\ A company that is excluded from the definition 
of ``investment company'' by Section 3(c)(1) of the Investment Company 
Act of 1940 because it has fewer than one hundred shareholders and is 
not making a public offering of its securities may lose such an 
exclusion solely because it proposes to make a public offering of 
securities as a business development company. Such a company, under 
certain conditions, would not lose its exclusion if it notifies the 
Commission on Form N-6F [17 CFR 274.15] of its intent to make an 
election to be regulated as a business development company. The company 
only has to file a Form N-6F once.
---------------------------------------------------------------------------

    \1\ A company might not be prepared to elect to be subject to 
sections 55 through 65 of the Investment Company Act of 1940 because 
its capital structure or management compensation plan is not yet in 
compliance with the requirements of those sections.
---------------------------------------------------------------------------

    It is estimated that 2 respondents per year file with the 
Commission a Form N-6F. Form N-6F requires approximately 0.5 burden 
hours per response resulting from creating and filing the information 
required by the Form. The total burden hours for Form N-6F would be 1 
hour per year in the aggregate. The estimated annual burden of 1.0 hour 
represents no change from the prior estimate of 1.0 hour.
    The estimate of average burden hours for Form N-6F is made solely 
for the purposes of the Paperwork Reduction Act and is not derived from 
a comprehensive or even representative survey or study of the costs of 
Commission rules and forms.
    Written comments are invited on: (a) Whether the proposed 
collections of information are necessary for the proper performance of 
the functions of the agency, including whether the

[[Page 11689]]

information will have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collections of information; (c) 
ways to enhance the quality, utility, and clarity of the information 
collected; and (d) ways to minimize the burden 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: February 28, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6-3280 Filed 3-7-06; 8:45 am]
BILLING CODE 8010-01-P
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