[Federal Register Volume 79, Number 131 (Wednesday, July 9, 2014)]
[Notices]
[Pages 39003-39004]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-15968]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copy Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Form N-54C, OMB Control No. 3235-0236, SEC File No. 270-184.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.) (the ``PRA''), 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.
Under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.)
(the ``Investment Company Act''), certain investment companies can
elect to be regulated as business development companies, as defined in
Section 2(a)(48) of the Investment Company Act (15 U.S.C. 80a-
2(a)(48)). Under Section 54(a) of the Investment Company Act (15 U.S.C.
80a-53(a)), any company defined in Section 2(a)(48)(A) and (B) of the
Investment Company Act (15 U.S.C. 80a-2(a)(48)), may, if it meets
certain enumerated eligibility requirements, elect to be subject to the
provisions of Sections 55 through 65 of the Investment Company Act (15
U.S.C. 80a-54 to 80a-64) by filing with the Commission a notification
of election on Form N-54A (17 CFR 274.53). Under Section 54(c) of the
Investment Company Act (15 U.S.C. 80a-53(c)), any business development
company may voluntarily withdraw its election under Section 54(a) of
the Investment Company Act (15 U.S.C. 80a-53(a)) by filing a notice of
withdrawal of election with the Commission. The Commission has adopted
Form N-54C (17 CFR 274.54) as the form for notification of withdrawal
of election to be subject to Sections 55 through 65 of the Investment
Company Act.
The purpose of Form N-54C is to notify the Commission that the
business development company withdraws its election to be subject to
Sections 55 through 65 of the Investment Company Act, enabling the
Commission to administer those provisions of the Investment Company Act
to such companies.
The Commission estimates that on average approximately 10 business
development companies file these notifications each year. Each of those
business development companies need only make a single filing of Form
N-54C. The Commission further estimates that this information
collection imposes a burden of one hour, resulting in a total annual
PRA burden of 10 hours. Based on the estimated wage rate, the total
cost to the business development industry of the hour burden for
complying with Form N-54C would be approximately $3,200.
The collection of information under Form N-54C is mandatory. The
information provided by the form is not 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 OMB
control number.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden 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
[[Page 39004]]
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 Thomas Bayer, Chief
Information Officer, Securities and Exchange Commission, C/O Remi
Pavlik-Simon, 100 F Street NE., Washington, DC 20549; or send an email
to: [email protected].
Dated: July 2, 2014.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014-15968 Filed 7-8-14; 8:45 am]
BILLING CODE 8011-01-P