[Federal Register Volume 79, Number 140 (Tuesday, July 22, 2014)]
[Notices]
[Page 42564]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-17183]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-185, OMB Control No. 3235-0238]
Proposed Collection; Comment Request
Upon Written Request, Copy Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC
20549-2736
Extension:
Form N-6F
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.
The title for the collection of information is ``Form N-6F (17 CFR
274.15), Notice of Intent to Elect to be Subject to Sections 55 through
65 of the Investment Company Act of 1940.'' The purpose of Form N-6F is
to notify the Commission of a company's intent to file a notification
of election to become subject to Sections 55 through 65 of the
Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) (``1940
Act''). Certain companies may have to make a filing with the Commission
before they are ready to elect to be regulated as a business
development company.\1\ A company that is excluded from the definition
of ``investment company'' by Section 3(c)(1) because it has fewer than
one hundred shareholders and is not making a public offering of its
securities may lose such an exclusion solely because it proposes to
make a public offering of securities as a business development company.
Such company, under certain conditions, would not lose its exclusion if
it notifies the Commission on Form N-6F of its intent to make an
election to be regulated as a business development company. The company
only has to file a Form N-6F once.
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\1\ A company might not be prepared to elect to be subject to
Sections 55 through 65 of the 1940 Act because its capital structure
or management compensation plan is not yet in compliance with the
requirements of those sections.
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The Commission estimates that on average approximately 15 companies
file these notifications each year. Each of those companies need only
make a single filing of Form N-6F. The Commission further estimates
that this information collection imposes burden of 0.5 hours, resulting
in a total annual PRA burden of 7.5 hours. Based on the estimated wage
rate, the total cost to the industry of the hour burden for complying
with Form N-6F would be approximately $2,505.
The collection of information under Form N-6F is mandatory. The
information provided under 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 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 16, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-17183 Filed 7-21-14; 8:45 am]
BILLING CODE 8011-01-P