Proposed Collection; Comment Request, 54696-54697 [E7-18920]

Download as PDF 54696 Federal Register / Vol. 72, No. 186 / Wednesday, September 26, 2007 / Notices made regarding the applicability of the agreement to the material that will be discussed during the meeting. The minimum information provided should include information regarding the date of the agreement, the scope of material included in the agreement, the project or projects involved, and the names and titles of the persons signing the agreement. Additional information may be requested to identify the specific agreement involved. A copy of the executed agreement should be provided to the DFO prior to the beginning of the meeting for admittance to the closed session. Dated: September 20, 2007. Andrew L. Bates, Advisory Committee Management Officer. [FR Doc. E7–19014 Filed 9–25–07; 8:45 am] BILLING CODE 7590–01–P OFFICE OF PERSONNEL MANAGEMENT Submission for OMB Review; Comment Request for a New Information Collection: OPM Form 1655 and OPM Form 1655–A 8358, Fax (202) 418–3251 or e-mail to mbtoomey@opm.gov. Please include a mailing address with your request. DATES: Comments on this proposal should be received within 30 calendar days from the date of this publication. ADDRESSES: Send or deliver comments to— Juanita H. Love, Program Manager, Administrative Law Judge Program, Human Capital Leadership & Merit System, Accountability Division, U.S. Office of Personnel Management, 1900 E Street, NW., Room 7425, Washington, DC 20415; and Brenda Aguilar, OPM Desk Officer, Office of Information & Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, Washington, DC 20503. For Information Regarding Administrative Coordination Contact: Karyn D. Lusby, Program Analyst, Administrative Law Judge Program, Human Capital Leadership & Merit System, Accountability Division, U.S. Office of Personnel Management, 1900 E Street, NW., Room 7425, Washington, DC 20415, karyn.lusby@opm.gov. Office of Personnel Management. ACTION: Notice. mstockstill on PROD1PC66 with NOTICES AGENCY: U.S. Office of Personnel Management Linda M. Springer, Director. [FR Doc. E7–19043 Filed 9–25–07; 8:45 am] SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104–13, May 22, 1995), this notice announces that the Office of Personnel Management (OPM) has submitted to the Office of Management and Budget (OMB) a request for a new information collection. OPM 1655, Application for Senior Administrative Law Judge, and OPM 1655–A, Geographic Preference Statement for Senior Administrative Law Judge Applicant, are used by retired Administrative Law Judges seeking reemployment on a temporary and intermittent basis to complete hearings of one or more specified case(s) in accordance with the Administrative Procedures Act of 1946. Approximately 150 OPM 1655s will be processed annually. Each form takes approximately 30–45 minutes to complete. The annual estimated burden is 94 hours. Approximately 200 OPM 1655–As will be processed annually. Each form takes approximately 5–25 minutes to complete. The annual estimated burden is 67 hours. OPM received one comment and took no action because the comment was not relevant to the proposed information collection under 5 CFR 1320.8(d)(1). For copies of this proposal, contact Mary Beth Smith-Toomey on (202) 606– BILLING CODE 6325–43–P VerDate Aug<31>2005 17:57 Sep 25, 2007 Jkt 211001 SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 7d–1; SEC File No. 270–176; OMB Control No. 3235–0311. 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 7(d) of the Investment Company Act of 1940 (15 U.S.C. 80a– 7(d)) (the ‘‘Act’’ or ‘‘Investment Company Act’’) requires an investment company (‘‘fund’’) organized outside the PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 United States (‘‘foreign fund’’) to obtain an order from the Commission allowing the fund to register under the Act before making a public offering of its securities through the United States mail or any means of interstate commerce. The Commission may issue an order only if it finds that it is both legally and practically feasible effectively to enforce the provisions of the Act against the foreign fund, and that the registration of the fund is consistent with the public interest and protection of investors. Rule 7d–1 (17 CFR 270.7d–1) under the Act, which was adopted in 1954, specifies the conditions under which a Canadian management investment company (‘‘Canadian fund’’) may request an order from the Commission permitting it to register under the Act. Although rule 7d–1 by its terms applies only to Canadian funds, other foreign funds generally have agreed to comply with the requirements of rule 7d–1 as a prerequisite to receiving an order permitting those foreign funds’ registration under the Act. The rule requires a Canadian fund that wishes to register to file an application with the Commission that contains various undertakings and agreements by the fund. Certain of these undertakings and agreements, in turn, impose the following additional information collection requirements: (1) The fund must file agreements between the fund and its directors, officers, and service providers requiring them to comply with the fund’s charter and bylaws, the Act, and certain other obligations relating to the undertakings and agreements in the application; (2) the fund and each of its directors, officers, and investment advisers that is not a U.S. resident, must file an irrevocable designation of the fund’s custodian in the United States as agent for service of process; (3) the fund’s charter and bylaws must provide that (a) the fund will comply with certain provisions of the Act applicable to all funds, (b) the fund will maintain originals or copies of its books and records in the United States, and (c) the fund’s contracts with its custodian, investment adviser, and principal underwriter, will contain certain terms, including a requirement that the adviser maintain originals or copies of pertinent records in the United States; (4) the fund’s contracts with service providers will require that the provider perform the contract in accordance with the Act, the Securities Act of 1933 (15 U.S.C. 77a–77z–3), and the Securities Exchange Act of 1934 (15 U.S.C. 78a–78mm), as applicable; and (5) the fund must file, and periodically revise, a list of persons affiliated with the fund or its adviser or underwriter. Under section 7(d) of the Act the Commission may issue an order permitting a foreign fund’s registration E:\FR\FM\26SEN1.SGM 26SEN1 Federal Register / Vol. 72, No. 186 / Wednesday, September 26, 2007 / Notices mstockstill on PROD1PC66 with NOTICES only if the Commission finds that ‘‘by reason of special circumstances or arrangements, it is both legally and practically feasible effectively to enforce the provisions of the (Act).’’ The information collection requirements are necessary to assure that the substantive provisions of the Act may be enforced as a matter of contract right in the United States or Canada by the fund’s shareholders or by the Commission. Certain information collection requirements in rule 7d–1 are associated with complying with the Act’s provisions. These requirements are reflected in the information collection requirements applicable to those provisions for all registered funds. The Commission believes that one fund is registered under rule 7d–1 and currently active. Apart from requirements under the Act applicable to all registered funds, rule 7d–1 imposes ongoing burdens to maintain records in the United States, and to update, as necessary, the foreign fund’s list of affiliated persons. The Commission staff estimates that the active registrant makes one response each year under the rule update its list of affiliated persons.1 Commission staff estimates that the response to update the list of affiliated persons requires 2 hours of compliance clerk time at a cost of $56 per hour, for a total annual burden of 2 hours at a cost of $112.2 The estimated number of 2 burden hours is a reduction of 23.25 hours from the current allocation. The reduction is a result of the registrant’s elimination of duplicative records in the United States. All of the registrant’s records are only maintained in the United States. If a fund were to file an application under the rule, the Commission estimates that the rule would impose initial information collection burdens (for filing an application, preparing the specified charter, bylaw, and contract provisions, designations of agents for service of process, and an initial list of 1 The rule requires an applicant to maintain records in the United States (which, without the requirement, could be available only in Canada or another foreign jurisdiction), which facilitates routine inspections and any special investigations of the fund by Commission staff. The registrant, however, only maintains its records in the United States and in no other jurisdiction. Therefore, the registrant’s maintenance of records in the United States does not impose an additional burden beyond the fund’s compliance with the Act’s requirements. This recordkeeping requirement is reflected in the information collection burdens applicable to those requirements for all registered funds. 2 The $56/hour figure for a Compliance Clerk is from the SIA Report on Office Salaries in the Securities Industry 2006, modified to account for an 1800-hour work-year and multiplied by 2.93 to account for bonuses, firm size, employee benefits and overhead. VerDate Aug<31>2005 17:57 Sep 25, 2007 Jkt 211001 affiliated persons, and establishing a means of keeping records in the United States) of approximately 90 hours for the fund and its associated persons. The Commission is not including these hours in its calculation of the annual burden because no foreign fund has applied under rule 7d–1 to register under the Act in the last three years. After registration, a foreign fund may file a supplemental application seeking special relief designed for the fund’s particular circumstances. Because rule 7d–1 does not mandate these applications and the fund determines whether to submit an application, the Commission has not allocated any burden hours for the applications. The estimates of burden hours are made solely for the purposes of the Paperwork Reduction Act. The estimates are not derived from a comprehensive or even a representative survey or study of Commission rules and forms. If a Canadian or other foreign fund in the future applied to register under the Act under rule 7d–1, the fund initially might have capital and start-up costs (not including hourly burdens) of an estimated $17,280 to comply with the rule’s initial information collection requirements. These costs include legal and processing-related fees for preparing the required documentation (such as the application, charter, bylaw, and contract provisions), designations for service of process, and the list of affiliated persons. Other related costs would include fees for establishing arrangements with a custodian or other agent for maintaining records in the United States, copying and transportation costs for records, and the costs of purchasing or leasing computer equipment, software, or other record storage equipment for records maintained in electronic or photographic form. The Commission expects that a fund and its sponsors would incur these costs immediately, and that the annualized cost of the expenditures would be $17,280 in the first year. Some expenditures might involve capital improvements, such as computer equipment, having expected useful lives for which annualized figures beyond the first year would be meaningful. These annualized figures are not provided, however, because, in most cases, the expenses would be incurred immediately rather than on an annual basis. The Commission is not including these costs in its calculation of the annualized capital/start-up costs because no foreign fund has applied under rule 7d–1 to register under the PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 54697 Act pursuant to rule 7d–1 in the last three years. We request written comment 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 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, VA, 22312; or send an email to: PRA_Mailbox@sec.gov. Dated: September 18, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–18920 Filed 9–25–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Biomaxx Systems, Inc.; Order of Suspension of Trading September 24, 2007. It appears to the Securities and Exchange Commission that the market for securities of Biomaxx Systems, Inc. (‘‘Biomaxx,’’ trading symbol BMXSF), may be reacting to manipulative forces or deceptive practices and that there is insufficient current public information about the issuer upon which an informed investment decision may be made, particularly concerning (1) the identity of and prior securities fraud judgments against persons who appear to be involved in the offer and sale, or in connection with the purchase or sale, of Biomaxx shares; (2) the financial performance and business prospects of Biomaxx; and (3) offerings to foreign investors and any restrictions on the resale of shares. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. E:\FR\FM\26SEN1.SGM 26SEN1

Agencies

[Federal Register Volume 72, Number 186 (Wednesday, September 26, 2007)]
[Notices]
[Pages 54696-54697]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-18920]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 7d-1; SEC File No. 270-176; OMB Control No. 3235-0311.

    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 7(d) of the Investment Company Act of 1940 (15 U.S.C. 80a-
7(d)) (the ``Act'' or ``Investment Company Act'') requires an 
investment company (``fund'') organized outside the United States 
(``foreign fund'') to obtain an order from the Commission allowing the 
fund to register under the Act before making a public offering of its 
securities through the United States mail or any means of interstate 
commerce. The Commission may issue an order only if it finds that it is 
both legally and practically feasible effectively to enforce the 
provisions of the Act against the foreign fund, and that the 
registration of the fund is consistent with the public interest and 
protection of investors.
    Rule 7d-1 (17 CFR 270.7d-1) under the Act, which was adopted in 
1954, specifies the conditions under which a Canadian management 
investment company (``Canadian fund'') may request an order from the 
Commission permitting it to register under the Act. Although rule 7d-1 
by its terms applies only to Canadian funds, other foreign funds 
generally have agreed to comply with the requirements of rule 7d-1 as a 
prerequisite to receiving an order permitting those foreign funds' 
registration under the Act.
    The rule requires a Canadian fund that wishes to register to file 
an application with the Commission that contains various undertakings 
and agreements by the fund. Certain of these undertakings and 
agreements, in turn, impose the following additional information 
collection requirements:

    (1) The fund must file agreements between the fund and its 
directors, officers, and service providers requiring them to comply 
with the fund's charter and bylaws, the Act, and certain other 
obligations relating to the undertakings and agreements in the 
application;
    (2) the fund and each of its directors, officers, and investment 
advisers that is not a U.S. resident, must file an irrevocable 
designation of the fund's custodian in the United States as agent 
for service of process;
    (3) the fund's charter and bylaws must provide that (a) the fund 
will comply with certain provisions of the Act applicable to all 
funds, (b) the fund will maintain originals or copies of its books 
and records in the United States, and (c) the fund's contracts with 
its custodian, investment adviser, and principal underwriter, will 
contain certain terms, including a requirement that the adviser 
maintain originals or copies of pertinent records in the United 
States;
    (4) the fund's contracts with service providers will require 
that the provider perform the contract in accordance with the Act, 
the Securities Act of 1933 (15 U.S.C. 77a-77z-3), and the Securities 
Exchange Act of 1934 (15 U.S.C. 78a-78mm), as applicable; and
    (5) the fund must file, and periodically revise, a list of 
persons affiliated with the fund or its adviser or underwriter.

    Under section 7(d) of the Act the Commission may issue an order 
permitting a foreign fund's registration

[[Page 54697]]

only if the Commission finds that ``by reason of special circumstances 
or arrangements, it is both legally and practically feasible 
effectively to enforce the provisions of the (Act).'' The information 
collection requirements are necessary to assure that the substantive 
provisions of the Act may be enforced as a matter of contract right in 
the United States or Canada by the fund's shareholders or by the 
Commission.
    Certain information collection requirements in rule 7d-1 are 
associated with complying with the Act's provisions. These requirements 
are reflected in the information collection requirements applicable to 
those provisions for all registered funds.
    The Commission believes that one fund is registered under rule 7d-1 
and currently active. Apart from requirements under the Act applicable 
to all registered funds, rule 7d-1 imposes ongoing burdens to maintain 
records in the United States, and to update, as necessary, the foreign 
fund's list of affiliated persons. The Commission staff estimates that 
the active registrant makes one response each year under the rule 
update its list of affiliated persons.\1\ Commission staff estimates 
that the response to update the list of affiliated persons requires 2 
hours of compliance clerk time at a cost of $56 per hour, for a total 
annual burden of 2 hours at a cost of $112.\2\ The estimated number of 
2 burden hours is a reduction of 23.25 hours from the current 
allocation. The reduction is a result of the registrant's elimination 
of duplicative records in the United States. All of the registrant's 
records are only maintained in the United States.
---------------------------------------------------------------------------

    \1\ The rule requires an applicant to maintain records in the 
United States (which, without the requirement, could be available 
only in Canada or another foreign jurisdiction), which facilitates 
routine inspections and any special investigations of the fund by 
Commission staff. The registrant, however, only maintains its 
records in the United States and in no other jurisdiction. 
Therefore, the registrant's maintenance of records in the United 
States does not impose an additional burden beyond the fund's 
compliance with the Act's requirements. This recordkeeping 
requirement is reflected in the information collection burdens 
applicable to those requirements for all registered funds.
    \2\ The $56/hour figure for a Compliance Clerk is from the SIA 
Report on Office Salaries in the Securities Industry 2006, modified 
to account for an 1800-hour work-year and multiplied by 2.93 to 
account for bonuses, firm size, employee benefits and overhead.
---------------------------------------------------------------------------

    If a fund were to file an application under the rule, the 
Commission estimates that the rule would impose initial information 
collection burdens (for filing an application, preparing the specified 
charter, bylaw, and contract provisions, designations of agents for 
service of process, and an initial list of affiliated persons, and 
establishing a means of keeping records in the United States) of 
approximately 90 hours for the fund and its associated persons. The 
Commission is not including these hours in its calculation of the 
annual burden because no foreign fund has applied under rule 7d-1 to 
register under the Act in the last three years.
    After registration, a foreign fund may file a supplemental 
application seeking special relief designed for the fund's particular 
circumstances. Because rule 7d-1 does not mandate these applications 
and the fund determines whether to submit an application, the 
Commission has not allocated any burden hours for the applications.
    The estimates of burden hours are made solely for the purposes of 
the Paperwork Reduction Act. The estimates are not derived from a 
comprehensive or even a representative survey or study of Commission 
rules and forms.
    If a Canadian or other foreign fund in the future applied to 
register under the Act under rule 7d-1, the fund initially might have 
capital and start-up costs (not including hourly burdens) of an 
estimated $17,280 to comply with the rule's initial information 
collection requirements. These costs include legal and processing-
related fees for preparing the required documentation (such as the 
application, charter, bylaw, and contract provisions), designations for 
service of process, and the list of affiliated persons. Other related 
costs would include fees for establishing arrangements with a custodian 
or other agent for maintaining records in the United States, copying 
and transportation costs for records, and the costs of purchasing or 
leasing computer equipment, software, or other record storage equipment 
for records maintained in electronic or photographic form.
    The Commission expects that a fund and its sponsors would incur 
these costs immediately, and that the annualized cost of the 
expenditures would be $17,280 in the first year. Some expenditures 
might involve capital improvements, such as computer equipment, having 
expected useful lives for which annualized figures beyond the first 
year would be meaningful. These annualized figures are not provided, 
however, because, in most cases, the expenses would be incurred 
immediately rather than on an annual basis. The Commission is not 
including these costs in its calculation of the annualized capital/
start-up costs because no foreign fund has applied under rule 7d-1 to 
register under the Act pursuant to rule 7d-1 in the last three years.
    We request written comment 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 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, VA, 22312; or 
send an e-mail to: PRA--Mailbox@sec.gov.

    Dated: September 18, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-18920 Filed 9-25-07; 8:45 am]
BILLING CODE 8010-01-P