Submission for OMB Review; Comment Request, 33487 [E9-16387]
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Federal Register / Vol. 74, No. 132 / Monday, July 13, 2009 / Notices
disaster as beginning 04/28/2009 and
continuing through 05/31/2009.
All other information in the original
declaration remains unchanged.
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
James E. Rivera,
Acting Associate Administrator for Disaster
Assistance.
[FR Doc. E9–16393 Filed 7–10–09; 8:45 am]
BILLING CODE 8025–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
mstockstill on DSKH9S0YB1PROD with NOTICES
Extension:
Rule 27f–1 and Form N–27F–1, SEC File
No. 270–487, OMB Control No. 3235–
0546.
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’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
Section 27(f) of the Investment
Company Act of 1940 (‘‘Act’’) (15 U.S.C.
80a–27(f)) provides that ‘‘[w]ith respect
to any periodic payment plan (other
than a plan under which the amount of
sales load deducted from any payment
thereon does not exceed 9 per centum
of such payment), the custodian bank
for such plan shall mail to each
certificate holder, within sixty days after
the issuance of the certificate, a
statement of charges to be deducted
from the projected payments on the
certificate and a notice of his right of
withdrawal as specified in this
section.’’ 1 The certificate holder then
has forty-five days from the mailing of
the notice to surrender his or her
certificate and receive ‘‘in payment
thereof, in cash, the sum of (1) the value
of his account, and (2) an amount, from
the underwriter or depositor, equal to
the difference between the gross
payments made and the net amount
invested.’’
Section 27(f) authorizes the Securities
and Exchange Commission
1 As discussed below, the Military Personnel
Financial Services Protection Act banned the
issuance or sale of new periodic payment plans,
effective October 2006.
VerDate Nov<24>2008
18:36 Jul 10, 2009
Jkt 217001
(‘‘Commission’’) to ‘‘make rules
specifying the method, form, and
contents of the notice required by this
subsection.’’ Rule 27f–1 (17 CFR
270.27f–1) under the Act, entitled
‘‘Notice of Right of Withdrawal
Required to be Mailed to Periodic
Payment Plan Certificate Holders and
Exemption from Section 27(f) for
Certain Periodic Payment Plan
Certificates,’’ provides instructions for
the delivery of the notice required by
section 27(f).
Rule 27f–1(d) prescribes Form N–
27F–1 (17 CFR 274.127f–1), which sets
forth the language that custodian banks
for periodic payment plans must use in
informing certificate holders of their
withdrawal right pursuant to section
27(f). The instructions to the form
provide that the notice must be on the
sender’s letterhead. The Commission
does not receive a copy of the Form N–
27F–1 notice.
The Form N–27F–1 notice informs
certificate holders of their rights in
connection with the certificates they
hold. Specifically, it is intended to
encourage new purchasers of plan
certificates to reassess the costs and
benefits of their investment and to
provide them with an opportunity to
recover their initial investment without
penalty. The disclosure assists
certificate holders in making careful and
fully informed decisions about whether
to invest in periodic payment plan
certificates.
Complying with the collection of
information requirements of rule 27f–1
is mandatory for custodian banks of
periodic payment plans for which the
sales load deducted from any payment
exceeds 9 percent of the payment.2 The
information provided pursuant to rule
27f–1 will be provided to third parties
and, therefore, 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.
Effective October 27, 2006, the
Military Personnel Financial Services
Protection Act banned the issuance or
sale of new periodic payment plans.
Accordingly, the staff estimates that
there is no information collection
burden associated with rule 27f–1 and
Form N–27F–1. For administrative
purposes, however, we are requesting
approval for an information collection
2 The rule also permits the issuer, its principal
underwriter, its depositor, or its recordkeeping
agent to mail the notice if the custodian bank has
delegated the mailing of the notice to any of them
or if the issuer has been permitted to operate
without a custodian bank by Commission order. See
17 CFR 270.27f–1.
PO 00000
Frm 00083
Fmt 4703
Sfmt 4703
33487
burden of one hour per year. This
estimate of burden hours is not derived
from a comprehensive or necessarily
even representative study of the cost of
the Commission’s rules and forms.
Please direct general comments
regarding the above information to the
following persons: (i) Desk Officer for
the Securities and Exchange
Commission, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503
or send an e-mail to Shagufta Ahmed at
Shagufta_Ahmed@omb.eop.gov; and (ii)
Charles Boucher, 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. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: July 6, 2009.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–16387 Filed 7–10–09; 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 Investor
Education and Advocacy,
Washington, DC 20549–0212.
Extension:
Rules 8b–1 to 8b–33; SEC File No. 270–
135; OMB Control No. 3235–0176.
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 this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Rules 8b–1 to 8b–33 (17 CFR 270.8b–
1 to 8b–33) under the Investment
Company Act of 1940 (15 U.S.C. 80a–1
et seq.) (the ‘‘Act’’) are the procedural
rules an investment company must
follow when preparing and filing a
registration statement. These rules were
adopted to standardize the mechanics of
registration under the Act and to
provide more specific guidance for
persons registering under the Act than
the information contained in the statute.
For the most part, these procedural rules
do not require the disclosure of
E:\FR\FM\13JYN1.SGM
13JYN1
]]>Agencies
[Federal Register Volume 74, Number 132 (Monday, July 13, 2009)]
[Notices]
[Page 33487]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-16387]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Rule 27f-1 and Form N-27F-1, SEC File No. 270-487, OMB Control
No. 3235-0546.
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'') has submitted to the Office of
Management and Budget a request for extension of the previously
approved collection of information discussed below.
Section 27(f) of the Investment Company Act of 1940 (``Act'') (15
U.S.C. 80a-27(f)) provides that ``[w]ith respect to any periodic
payment plan (other than a plan under which the amount of sales load
deducted from any payment thereon does not exceed 9 per centum of such
payment), the custodian bank for such plan shall mail to each
certificate holder, within sixty days after the issuance of the
certificate, a statement of charges to be deducted from the projected
payments on the certificate and a notice of his right of withdrawal as
specified in this section.'' \1\ The certificate holder then has forty-
five days from the mailing of the notice to surrender his or her
certificate and receive ``in payment thereof, in cash, the sum of (1)
the value of his account, and (2) an amount, from the underwriter or
depositor, equal to the difference between the gross payments made and
the net amount invested.''
---------------------------------------------------------------------------
\1\ As discussed below, the Military Personnel Financial
Services Protection Act banned the issuance or sale of new periodic
payment plans, effective October 2006.
---------------------------------------------------------------------------
Section 27(f) authorizes the Securities and Exchange Commission
(``Commission'') to ``make rules specifying the method, form, and
contents of the notice required by this subsection.'' Rule 27f-1 (17
CFR 270.27f-1) under the Act, entitled ``Notice of Right of Withdrawal
Required to be Mailed to Periodic Payment Plan Certificate Holders and
Exemption from Section 27(f) for Certain Periodic Payment Plan
Certificates,'' provides instructions for the delivery of the notice
required by section 27(f).
Rule 27f-1(d) prescribes Form N-27F-1 (17 CFR 274.127f-1), which
sets forth the language that custodian banks for periodic payment plans
must use in informing certificate holders of their withdrawal right
pursuant to section 27(f). The instructions to the form provide that
the notice must be on the sender's letterhead. The Commission does not
receive a copy of the Form N-27F-1 notice.
The Form N-27F-1 notice informs certificate holders of their rights
in connection with the certificates they hold. Specifically, it is
intended to encourage new purchasers of plan certificates to reassess
the costs and benefits of their investment and to provide them with an
opportunity to recover their initial investment without penalty. The
disclosure assists certificate holders in making careful and fully
informed decisions about whether to invest in periodic payment plan
certificates.
Complying with the collection of information requirements of rule
27f-1 is mandatory for custodian banks of periodic payment plans for
which the sales load deducted from any payment exceeds 9 percent of the
payment.\2\ The information provided pursuant to rule 27f-1 will be
provided to third parties and, therefore, 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.
---------------------------------------------------------------------------
\2\ The rule also permits the issuer, its principal underwriter,
its depositor, or its recordkeeping agent to mail the notice if the
custodian bank has delegated the mailing of the notice to any of
them or if the issuer has been permitted to operate without a
custodian bank by Commission order. See 17 CFR 270.27f-1.
---------------------------------------------------------------------------
Effective October 27, 2006, the Military Personnel Financial
Services Protection Act banned the issuance or sale of new periodic
payment plans. Accordingly, the staff estimates that there is no
information collection burden associated with rule 27f-1 and Form N-
27F-1. For administrative purposes, however, we are requesting approval
for an information collection burden of one hour per year. This
estimate of burden hours is not derived from a comprehensive or
necessarily even representative study of the cost of the Commission's
rules and forms.
Please direct general comments regarding the above information to
the following persons: (i) Desk Officer for the Securities and Exchange
Commission, Office of Management and Budget, Room 10102, New Executive
Office Building, Washington, DC 20503 or send an e-mail to Shagufta
Ahmed at Shagufta_Ahmed@omb.eop.gov; and (ii) Charles Boucher,
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. Comments must be submitted to OMB within
30 days of this notice.
Dated: July 6, 2009.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-16387 Filed 7-10-09; 8:45 am]
BILLING CODE 8010-01-P
