Proposed Collection; Comment Request, 35717 [06-5541]

Download as PDF Federal Register / Vol. 71, No. 119 / Wednesday, June 21, 2006 / Notices Tuesday, July 11, 2006, 10:30 a.m.–12 Noon The Subcommittee will discuss proposed ACRS activities and related matters. The Subcommittee will gather information, analyze relevant issues and facts, and formulate proposed positions and actions, as appropriate, for deliberation by the full Committee. Members of the public desiring to provide oral statements and/or written comments should notify the Designated Federal Official, Mr. Sam Duraiswamy (telephone: 301–415–7364) between 7:30 a.m. and 4:15 p.m. (ET) five days prior to the meeting, if possible, so that appropriate arrangements can be made. Electronic recordings will be permitted only during those portions of the meeting that are open to the public. Further information regarding this meeting can be obtained by contacting the Designated Federal Official between 7:30 a.m. and 4:15 p.m. (ET). Persons planning to attend this meeting are urged to contact the above named individual at least two working days prior to the meeting to be advised of any potential changes in the agenda. Dated: June 15, 2006. Michael R. Snodderly, Branch Chief, ACRS/ACNW. [FR Doc. E6–9720 Filed 6–20–06; 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 Service, Washington, DC 20549. jlentini on PROD1PC65 with NOTICES Extension: Rule 23c–1; SEC File No. 270–253; OMB Control No. 3235–0260. 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 collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 23c–1 (17 CFR 270.233c–1) under the Investment Company Act of 1940 (15 U.S.C. 80a), among other things, permits a closed-end fund to repurchase its securities for cash if in addition to the other requirements set forth in the rule: (1) Payment of the purchase price is accompanied or VerDate Aug<31>2005 18:26 Jun 20, 2006 Jkt 208001 preceded by a written confirmation of the purchase; (ii) the asset coverage per unit of the security to be purchased is disclosed to the seller or his agent; and (iii) if the security is a stock, the fund has, within the preceding six months, informed stockholders of its intention to purchase stock. Commission staff estimates that approximately 14 closedend funds rely on Rule 23c–1 annually to undertake 122 repurchases of their securities. Commission staff estimates that, on average, a fund spends 2.5 hours to comply with the paperwork requirements listed above each time it undertakes a security repurchase under the rule. Commission staff thus estimates the total annual burden of the rule’s paperwork requirements is 305 hours. In addition, the fund must file with the Commission a copy of any written solicitation to purchase securities given by or on behalf of the fund to 10 or more persons. The copy must be filed as an exhibit to Form N–CSR (17 CFR 249.331 and 274.128). The burden associated with filing Form N–CSER is addressed in the submission related to that form. 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. Written comments are invited 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 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, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312, or send an e-mail to: PRA_Mailbox@sec.gov. Dated: June 14, 2006. Nancy M. Morris, Secretary. [FR Doc. 06–5541 Filed 6–20–06; 8:45 am] BILLING CODE 8010–01–M PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 35717 SECURITIES AND EXCHANGE COMMISSION Existing Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 17g–1; SEC File No. 270– 208; OMB Control No. 3235–0213. 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 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. Rule 17g–1 (17 CFR 270.17g–1) under the Investment Company Act of 1940 (the ‘‘Act’’) (15 U.S.C. 80a–17(g)) governs the fidelity bonding of officers and employees of registered management investment companies (‘‘funds’’) and their advisers. Rule 17g– 1 requires, in part, the following: • Independent Directors’ Approval. The form and amount of the fidelity bond must be approved by a majority of the fund’s independent directors at least once annually, and the amount of any premium paid by the fund for any ‘‘joint insured bond,’’ covering multiple funds or certain affiliates, must be approved by a majority of the fund’s independent directors. • Terms and Provisions of the Bond. The amount of the bond may not be less than the minimum amounts of coverage set forth in a schedule based on the fund’s gross assets; the bond must provide that it shall not be cancelled, terminated, or modified except upon 60-days written notice to the affected party and to the Commission; in the case of a joint insured bond, 60-days written notice must also be given to each fund covered by the bond; a joint insured bond must provide that the fidelity insurance company will provide all funds covered by the bond with a copy of the agreement, a copy of any claim on the bond, and notification of the terms of the settlement of any claim prior to execution of that settlement; and a fund that is insured by a joint bond must enter into an agreement with all other parties insured by the joint bond regarding recovery under the bond. • Filings with the Commission. Upon the execution of a fidelity bond or any amendment thereto, a fund must file with the Commission within 10 E:\FR\FM\21JNN1.SGM 21JNN1

Agencies

[Federal Register Volume 71, Number 119 (Wednesday, June 21, 2006)]
[Notices]
[Page 35717]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-5541]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon written request, copies available from: Securities and Exchange 
Commission, Office of Filings and Information Service, Washington, 
DC 20549.

Extension:
    Rule 23c-1; SEC File No. 270-253; OMB Control No. 3235-0260.

    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 
collection of information summarized below. The Commission plans to 
submit this existing collection of information to the Office of 
Management and Budget (``OMB'') for extension and approval.
    Rule 23c-1 (17 CFR 270.233c-1) under the Investment Company Act of 
1940 (15 U.S.C. 80a), among other things, permits a closed-end fund to 
repurchase its securities for cash if in addition to the other 
requirements set forth in the rule: (1) Payment of the purchase price 
is accompanied or preceded by a written confirmation of the purchase; 
(ii) the asset coverage per unit of the security to be purchased is 
disclosed to the seller or his agent; and (iii) if the security is a 
stock, the fund has, within the preceding six months, informed 
stockholders of its intention to purchase stock. Commission staff 
estimates that approximately 14 closed-end funds rely on Rule 23c-1 
annually to undertake 122 repurchases of their securities. Commission 
staff estimates that, on average, a fund spends 2.5 hours to comply 
with the paperwork requirements listed above each time it undertakes a 
security repurchase under the rule. Commission staff thus estimates the 
total annual burden of the rule's paperwork requirements is 305 hours.
    In addition, the fund must file with the Commission a copy of any 
written solicitation to purchase securities given by or on behalf of 
the fund to 10 or more persons. The copy must be filed as an exhibit to 
Form N-CSR (17 CFR 249.331 and 274.128). The burden associated with 
filing Form N-CSER is addressed in the submission related to that form.
    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.
    Written comments are invited 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 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, Securities and Exchange Commission, C/O 
Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312, 
or send an e-mail to: PRA--Mailbox@sec.gov.

    Dated: June 14, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. 06-5541 Filed 6-20-06; 8:45 am]
BILLING CODE 8010-01-M