Sunshine Act Meeting, 34494 [E7-12152]

Download as PDF rwilkins on PROD1PC63 with NOTICES 34494 Federal Register / Vol. 72, No. 120 / Friday, June 22, 2007 / Notices applicable law and governing Qualified Plan documents. 7. As long as the 1940 Act requires pass-through voting privileges to be provided to Variable Contract owners, an Adviser and any General Account will vote their respective Shares in the same proportion as all variable contract owners having voting rights with respect to that Insurance Fund or Portfolio; provided, however, that an Adviser or any General Account shall vote its Shares in such other manner as may be required by the Commission or its staff. 8. Each Insurance Fund will comply with all provisions of the 1940 Act requiring voting by shareholders, which, for these purposes, shall be the persons having a voting interest in the Shares of the respective Portfolio, and, in particular, the Insurance Fund will either provide for annual meetings (except to the extent that the Commission may interpret Section 16 of the 1940 Act not to require such meetings) or comply with Section 16(c) of the 1940 Act (although each Insurance Fund is not, or will not be, one of those trusts of the type described in Section 16(c) of the 1940 Act), as well as with Section 16(a) of the 1940 Act and, if and when applicable, Section 16(b) of the 1940 Act. Further, each Insurance Fund will act in accordance with the Commission’s interpretations of the requirements of Section 16(a) with respect to periodic elections of directors/trustees and with whatever rules the Commission may promulgate thereto. 9. An Insurance Fund will make its Shares available to a Separate Account to fund a Variable Contract offering interests based on those Shares and/or to a Qualified Plan at or about the same time it accepts any seed capital from an Adviser or General Account of a Participating Insurance Company. 10. Each Insurance Fund has notified, or will notify, all Participants that Separate Account prospectus disclosure or Qualified Plan prospectuses or other Qualified Plan disclosure documents regarding potential risks of mixed and shared funding may be appropriate. Each Insurance Fund will disclose in its prospectus that: (a) Shares of the Insurance Fund may be offered to Separate Accounts funding both variable annuity contracts and variable life insurance policies and, if applicable, to Qualified Plans; (b) due to differences in tax treatment and other considerations, the interests of various contract owners participating in the Insurance Fund and the interests of Qualified Plans investing in the Insurance Fund, if applicable, may VerDate Aug<31>2005 16:51 Jun 21, 2007 Jkt 211001 conflict; and (c) the Insurance Fund’s Board will monitor events in order to identify the existence of any material irreconcilable conflicts and to determine what action, if any, should be taken in response to any such conflict. 11. If and to the extent that Rule 6e– 2 and Rule 6e–3(T) under the 1940 Act are amended, or proposed Rule 6e–3 under the 1940 Act is adopted, to provide exemptive relief from any provision of the 1940 Act, or the rules promulgated thereunder, with respect to mixed or shared funding, on terms and conditions materially different from any exemptions granted in the order requested in the Application, then each Insurance Fund and/or Participating Insurance Companies, as appropriate, shall take such steps as may be necessary to comply with Rules 6e–2 or 6e–3(T), or Rule 6e–3, as such rules are applicable. 12. Each Participant, at least annually, will submit to the Board such reports, materials or data as the Board reasonably may request so that the directors/trustees of the Board may fully carry out the obligations imposed upon the Board by the conditions contained in the Application. Such reports, materials and data will be submitted more frequently if deemed appropriate by the Board. The obligations of the Participants to provide these reports, materials and data to the Board, when it so reasonably requests, will be a contractual obligation of all Participants under their Participation Agreements with the relevant Insurance Fund. 13. All reports of potential or existing conflicts received by the Board, and all Board action with regard to determining the existence of a conflict, notifying Participants of a conflict and determining whether any proposed action adequately remedies a conflict, will be properly recorded in the minutes of the Board or other appropriate records, and such minutes or other records shall be made available to the Commission upon request. 14. Each Insurance Fund will not accept a purchase order from a Qualified Plan if such purchase would make the Qualified Plan an owner of 10 percent or more of the assets of any Portfolio of an Insurance Fund unless the Trustee for such Qualified Plan executes an agreement with the Insurance Fund governing participation in the Insurance Fund that includes the conditions set forth herein to the extent applicable. A Trustee for a Qualified Plan will execute an application containing an acknowledgement of this condition at the time of its initial purchase of Shares. PO 00000 Frm 00069 Fmt 4703 Sfmt 4703 Conclusions Applicants submit that, for the reasons summarized above and to the extent necessary or appropriate to provide for the transactions described herein, the requested exemptions from Sections 9(a), 13(a), 15(a), and 15(b) of the 1940 Act and Rules 6e–2(b)(15) and 6e–3(T)(b)(15) thereunder, in accordance with the standards of Section 6(c) of the 1940 Act, are in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the 1940 Act. For the Commission, by the Division of Investment Management, pursuant to delegated authority. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–12077 Filed 6–21–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: [72 FR 33545, June 18, 2007]. Open meeting. 100 F Street, NE., Auditorium, LL–002, Washington, DC. STATUS: PLACE: DATE AND TIME OF PREVIOUSLY ANNOUNCED MEETING: Wednesday, June 20, 2007. Additional Item. The following matter will also be considered during the 10 a.m. Open Meeting scheduled for Wednesday, June 20, 2007: The Commission will consider whether to adopt amendments to Rule 105 of Regulation M that would further safeguard the integrity of the capital raising process and protect issuers from manipulative activity that can reduce issuers’ offering proceeds and dilute security holder value. Commissioner Atkins, as duty officer, determined that no earlier notice thereof was possible. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact the Office of the Secretary at (202) 551–5400. CHANGE IN THE MEETING: Dated: June 19, 2007. Nancy M. Morris, Secretary. [FR Doc. E7–12152 Filed 6–21–07; 8:45 am] BILLING CODE 8010–01–P E:\FR\FM\22JNN1.SGM 22JNN1

Agencies

[Federal Register Volume 72, Number 120 (Friday, June 22, 2007)]
[Notices]
[Page 34494]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-12152]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

Federal Register Citation of Previous Announcement: [72 FR 33545, June 
18, 2007].

Status: Open meeting.

Place: 100 F Street, NE., Auditorium, LL-002, Washington, DC.

Date and Time of Previously Announced Meeting: Wednesday, June 20, 
2007.

Change in the Meeting: Additional Item.
    The following matter will also be considered during the 10 a.m. 
Open Meeting scheduled for Wednesday, June 20, 2007:
    The Commission will consider whether to adopt amendments to Rule 
105 of Regulation M that would further safeguard the integrity of the 
capital raising process and protect issuers from manipulative activity 
that can reduce issuers' offering proceeds and dilute security holder 
value.
    Commissioner Atkins, as duty officer, determined that no earlier 
notice thereof was possible.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items. For further information and to 
ascertain what, if any, matters have been added, deleted or postponed, 
please contact the Office of the Secretary at (202) 551-5400.

    Dated: June 19, 2007.
Nancy M. Morris,
Secretary.
[FR Doc. E7-12152 Filed 6-21-07; 8:45 am]
BILLING CODE 8010-01-P