Proposed Collection; Comment Request, 66277-66278 [E8-26572]

Download as PDF Federal Register / Vol. 73, No. 217 / Friday, November 7, 2008 / Notices ebenthall on PROD1PC60 with NOTICES The Nuclear Regulatory Commission (NRC, the Commission) pursuant to Section 103 of the Atomic Energy Act and Title 10 of the Code of Federal Regulations (10 CFR) Part 52, ‘‘Licenses, Certifications, and Approvals for Nuclear Power Plants,’’ an application for a combined license (COL) for two United States—Advanced Pressurized Water Reactors nuclear power plants at the Comanche Peak site located near Glen Rose, Texas. The reactors are to be identified as Comanche Peak Nuclear Power Plant, Units 3 and 4. An applicant may seek a COL in accordance with Subpart C of 10 CFR Part 52. The information submitted by the applicant includes certain administrative information such as financial qualifications submitted pursuant to 10 CFR 52.77, as well as technical information submitted pursuant to 10 CFR 52.79. Subsequent Federal Register notices will address the acceptability of the tendered COL application for docketing and provisions for participation of the public in the COL review process. A copy of the application is available for public inspection at the Commission’s Public Document Room (PDR), located at One White Flint North, Public File Area O1 F21, 11555 Rockville Pike (first floor), Rockville, Maryland, and via the Agencywide Documents Access and Management System (ADAMS) Public Electronic Reading Room on the Internet at the NRC Web site, https://www.nrc.gov/ reading-rm/adams.html. The accession number for the application transmittal letter is ML082680250. Future publicly available documents related to the application will also be posted in ADAMS. Persons who do not have access to ADAMS, or who encounter problems in accessing the documents located in ADAMS, should contact the NRC Public Document Room staff by telephone at 1–800–397–4209 or 301– 415–4737, or via e-mail at pdr@nrc.gov. The application is also available at https://www.nrc.gov/reactors/newlicensing/col.html. Dated at Rockville, Maryland, this 3rd day of November 2008. For the Nuclear Regulatory Commission. Stephen Raul Monarque, Project Manager, US–APWR Projects Branch, Division of New Reactor Licensing, Office of New Reactors. [FR Doc. E8–26608 Filed 11–6–08; 8:45 am] BILLING CODE 7590–01–P VerDate Aug<31>2005 15:04 Nov 06, 2008 Jkt 217001 Office of Personnel Management [OMB Control No. 3206–0230; Standard Form [SF] 2817] Proposed Information Collection; Request for Comment on an Existing Information Collection Office of Personnel Management. ACTION: Notice. AGENCY: 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) intends to submit to the Office of Management and Budget (OMB) a request for review of an existing information collection. This information collection, ‘‘Life Insurance Election’’ (OMB Control No. 3206–0230; SF 2817), is used by Federal employees and assignees (those who have acquired control of an employee/annuitant’s coverage through an assignment or ‘‘transfer’’ of the ownership of the life insurance). Clearance of this form for use by active Federal employees is not required according to the Paperwork Reduction Act (Pub. L. 98–615). The Public Burden Statement meets the requirements of 5 CFR 1320.8(b)(3). Therefore, only the use of this form by assignees, i.e., members of the public, is subject to the Paperwork Reduction Act. Comments are particularly invited on whether this information is necessary for the proper performance of functions of the Office of Personnel Management, and whether it will have practical utility; whether our estimate of the public burden of this collection of information is accurate and based on valid assumptions and methodology; and ways in which we can minimize the burden of the collection of information on those who are to respond, through the use of appropriate technological collection techniques or other forms of information technology. Approximately 100 SF 2817 forms are completed annually by assignees. This form takes approximately 15 minutes to complete. The annual estimated burden is 25 hours. For copies of this proposal, contact Cyrus S. Benson by telephone at (202) 606–4808, by FAX (202) 606–0910, or by e-mail to Cyrus.Benson@opm.gov. Please include a mailing address with your request. DATES: Comments on this proposal should be received within 60 calendar days of the date of this publication. ADDRESSES: Send or deliver comments to: Christopher N. Meuchner, Life Insurance & Long Term Care Group, PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 66277 Center for Retirement and Insurance Services, U.S. Office of Personnel Management, 1900 E Street, NW.— Room 2H22, Washington, DC 20415– 3661. For Information Regarding Administrative Coordination Contact: Cyrus S. Benson, Team Leader, Publications Team, RIS Support Services/Support Group, 1900 E Street, NW.—Room 4H28, Washington, DC 20415, (202) 606–0623. Office of Personnel Management. Howard Weizmann, Deputy Director. [FR Doc. E8–26560 Filed 11–6–08; 8:45 am] BILLING CODE 6325–38–P 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 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 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. Section 18(f)(1) 1 of the Investment Company Act of 1940 2 (the ‘‘Investment Company Act’’ or ‘‘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 1 15 U.S.C. 80a–18(f)(1). U.S.C. 80a. 3 17 CFR 270.18f–3. 2 15 E:\FR\FM\07NON1.SGM 07NON1 66278 Federal Register / Vol. 73, No. 217 / Friday, November 7, 2008 / Notices 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 5,300 multiple class funds offered by 1,120 registrants.5 Based on a review of typical rule 18f–3 plans, the Commission’s staff estimates that the 1,120 registrants together make an average of 560 responses each year to prepare and approve a written rule 18f– 3 plan, requiring approximately 10 hours per response and a total of 5,600 burden hours per year in the aggregate.6 The staff estimates that preparation of the rule 18f–3 plan may require 6 hours of the services of an attorney employed by the fund, at a cost of approximately $295 per hour for professional time,7 4 Rule 18f–3(d). estimate is based on data from Form N– SAR, the semi-annual report that funds file with the Commission. In previous years, the staff estimated that each multiple class fund prepared and approved a rule 18f–3 plan. However, the staff has revised this estimate to reflect its belief that most registrants prepare and approve a single rule 18f– 3 plan for all series funds offered by the registrants. 6 The estimate reflects the assumption that each registrant prepares and approves a rule 18f–3 plan every two years when issuing a new fund or new class or amending a plan (or that 560 of all 1,120 registrants prepare and approve a plan each year). The estimate assumes that the time required to prepare a plan is 6 hours per plan (or 3360 hours for 560 registrants annually), and the time required to approve a plan is an additional 4 hours per plan (or 2240 hours for 560 registrants annually). 7 This hourly rate estimate is derived from annual salaries reported in: Securities Industry and Financial Markets Association, Management and Professional Earnings in the Securities Industry (2007), modified to account for an 1800-hour work year and multiplied by 5.35 to account for bonuses, firm size, employee benefits and overhead. ebenthall on PROD1PC60 with NOTICES 5 This VerDate Aug<31>2005 15:04 Nov 06, 2008 Jkt 217001 and approval of the plan may require 4 hours of the services of the board of directors, at a cost of approximately $2000 per hour.8 The staff therefore estimates that the aggregate annual cost of complying with the paperwork requirements of the rule is approximately $5,471,200 ((6 hours × 560 responses × $295 = $991,200) + (4 hours × 560 responses × $2000 = $4,480,000)). The estimated annual burden of 5,600 hours represents a decrease of 110 hours over the prior estimate of 5,710 hours. The decrease in burden hours is attributable to a change in the estimate of the number of responses that are submitted pursuant to the rule. 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 Lewis W. Walker, Acting Director/ CIO, 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: October 30, 2008. Florence E. Harmon, Acting Secretary. [FR Doc. E8–26572 Filed 11–6–08; 8:45 am] BILLING CODE 8011–01–P 8 This hourly rate estimate is derived from fund representatives. PO 00000 Frm 00067 Fmt 4703 Sfmt 4703 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 20549–0213. Extension: Rule 30b2–1, SEC File No. 270–213, OMB Control No. 3235–0220. 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 collection of information summarized below. The Commission plans to submit the existing collection of information to the Office of Management and Budget for extension and approval. Rule 30b2–1 (17 CFR 270.30b2–1) under the Investment Company Act of 1940 (15 U.S.C. 80a) requires the filing of four copies of every periodic or interim report transmitted by or on behalf of any registered investment company to its stockholders.1 This requirement ensures that the Commission has information in its files to perform its regulatory functions and to apprise investors of the operational and financial condition of registered investment companies.2 Registered management investment companies are required to send reports to stockholders at least twice annually. In addition, each registered investment company is required to file with the Commission Form N–CSR (17 CFR 274.128), certifying the financial statements.3 The annual burden of filing the reports is included in the burden estimate for Form N–CSR; however, we are requesting one burden hour remain in inventory for administrative purposes. The burden estimate for rule 30b2–1 is made solely for the purposes of the 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 collection of 1 Most filings are made via the Commission’s electronic filing system; therefore, paper filings under Rule 30b2–1 occur only in exceptional circumstances. Electronic filing eliminates the need for multiple copies of filings. 2 Annual and periodic reports to the Commission become part of its public files and, therefore, are available for use by prospective investors and stockholders. 3 Rule 30b2–1(a) [17 CFR 270.30b2–1(a)]. E:\FR\FM\07NON1.SGM 07NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 73, Number 217 (Friday, November 7, 2008)]
[Notices]
[Pages 66277-66278]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8]


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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 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 
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.
    Section 18(f)(1) \1\ of the Investment Company Act of 1940 \2\ (the 
``Investment Company Act'' or ``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

[[Page 66278]]

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 5,300 multiple class funds offered by 1,120 
registrants.\5\ Based on a review of typical rule 18f-3 plans, the 
Commission's staff estimates that the 1,120 registrants together make 
an average of 560 responses each year to prepare and approve a written 
rule 18f-3 plan, requiring approximately 10 hours per response and a 
total of 5,600 burden hours per year in the aggregate.\6\ The staff 
estimates that preparation of the rule 18f-3 plan may require 6 hours 
of the services of an attorney employed by the fund, at a cost of 
approximately $295 per hour for professional time,\7\ and approval of 
the plan may require 4 hours of the services of the board of directors, 
at a cost of approximately $2000 per hour.\8\ The staff therefore 
estimates that the aggregate annual cost of complying with the 
paperwork requirements of the rule is approximately $5,471,200 ((6 
hours x 560 responses x $295 = $991,200) + (4 hours x 560 responses x 
$2000 = $4,480,000)).
---------------------------------------------------------------------------

    \5\ This estimate is based on data from Form N-SAR, the semi-
annual report that funds file with the Commission. In previous 
years, the staff estimated that each multiple class fund prepared 
and approved a rule 18f-3 plan. However, the staff has revised this 
estimate to reflect its belief that most registrants prepare and 
approve a single rule 18f-3 plan for all series funds offered by the 
registrants.
    \6\ The estimate reflects the assumption that each registrant 
prepares and approves a rule 18f-3 plan every two years when issuing 
a new fund or new class or amending a plan (or that 560 of all 1,120 
registrants prepare and approve a plan each year). The estimate 
assumes that the time required to prepare a plan is 6 hours per plan 
(or 3360 hours for 560 registrants annually), and the time required 
to approve a plan is an additional 4 hours per plan (or 2240 hours 
for 560 registrants annually).
    \7\ This hourly rate estimate is derived from annual salaries 
reported in: Securities Industry and Financial Markets Association, 
Management and Professional Earnings in the Securities Industry 
(2007), modified to account for an 1800-hour work year and 
multiplied by 5.35 to account for bonuses, firm size, employee 
benefits and overhead.
    \8\ This hourly rate estimate is derived from fund 
representatives.
---------------------------------------------------------------------------

    The estimated annual burden of 5,600 hours represents a decrease of 
110 hours over the prior estimate of 5,710 hours. The decrease in 
burden hours is attributable to a change in the estimate of the number 
of responses that are submitted pursuant to the rule.
    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 Lewis W. Walker, Acting 
Director/CIO, 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: October 30, 2008.
Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-26572 Filed 11-6-08; 8:45 am]
BILLING CODE 8011-01-P

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