[Federal Register Volume 79, Number 177 (Friday, September 12, 2014)]
[Notices]
[Pages 54754-54755]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-21735]
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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 FOIA Services 100 F Street NE., Washington, DC
20549-2736
Extension:
Form N-54C, SEC File No. 270-184, OMB Control No. 3235-0236
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'') has submitted to the Office of
Management and Budget (``OMB'') a request for extension of the
previously approved collection of information discussed below.
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
[[Page 54755]]
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
control number.
The public may view the background documentation for this
information collection at the following Web site, www.reginfo.gov.
Comments should be directed to: (i) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503, or by sending an email to:
[email protected]; and (ii) 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]. Comments must be submitted to OMB
within 30 days of this notice.
Dated: September 8, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-21735 Filed 9-11-14; 8:45 am]
BILLING CODE 8011-01-P