Securities and Exchange Commission June 2009 – Federal Register Recent Federal Regulation Documents

This staff accounting bulletin amends or rescinds portions of the interpretive guidance included in the Staff Accounting Bulletin Series in order to make the relevant interpretive guidance consistent with current authoritative accounting and auditing guidance and Securities and Exchange Commission rules and regulations. Specifically, the staff is updating the Series in order to bring existing guidance into conformity with recent pronouncements by the Financial Accounting Standards Board, namely, Statement of Financial Accounting Standards No. 141 (revised 2007), Business Combinations, and Statement of Financial Accounting Standards No. 160, Noncontrolling Interests in Consolidated Financial Statements.

Applicant, a closed-end investment company, seeks an order declaring that it has ceased to be an investment company. As of July 31, 2008, applicant's shareholders had tendered their shares for redemption, based on net asset value. Applicant incurred no expenses in connection with its liquidation.

In connection with rules adopted in Release No. 33-8998 (January 13, 2009), which appeared in the Federal Register on January 26, 2009 (74 FR 4546), the Securities and Exchange Commission is making technical corrections to Form N-1A and Form N-4. Specifically, the Commission is correcting certain cross-references appearing in each Form and correcting a citation appearing in Form N-1A. The citation being corrected was originally adopted in its incorrect form in Release No. IC-23064 (Mar. 13, 1998), which appeared in the Federal Register on March 23, 1998 (63 FR 13916).