[Federal Register Volume 59, Number 216 (Wednesday, November 9, 1994)] [Unknown Section] [Page 0] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 94-27755] [[Page Unknown]] [Federal Register: November 9, 1994] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 20685; 811-3780] PMC Capital, Inc.; Notice of Proposed Deregistration November 3, 1994. AGENCY: Securities and Exchange Commission (``SEC''). ACTION: Notice of proposed deregistration under the Investment Company Act of 1940 (the ``Act''). ----------------------------------------------------------------------- RELEVANT ACT SECTIONS: Sections 8(f) and 54(a). SUMMARY OF NOTICE: The SEC proposes to declare by order on its own motion that PMC Capital, Inc. (``PMC'') ceased to be an investment company when it elected on June 7, 1994 to be regulated as a business development company (``BDC'') pursuant to section 54(a) of the Act. HEARING OR NOTIFICATION OF HEARING: An order of deregistration will be issued unless the SEC orders a hearing. Interested persons may request a hearing by writing to the SEC's Secretary. Hearing requests should be received by the SEC by 5:30 p.m. on November 28, 1994. Hearing requests should state the nature of the writer's interest, the reason for the request, and the issues contested. Persons may request notification of a hearing by writing to the SEC's Secretary. ADDRESSES: Secretary, SEC, 450 Fifth Street, N.W., Washington, D.C. 20549. FOR FURTHER INFORMATION CONTACT: Marianne H. Khawly, Law Clerk, at (202) 942-0562, or C. David Messman, Branch Chief, at (202) 942-0564 (Division of Investment Management, Office of Investment Company Regulation). Statement of Facts 1. PMC is a registered, closed-end, diversified, management investment company. On June 24, 1993, PMC filed a Notification of Registration on form N-8A pursuant to section 8(a) of the Act and a registration statement on form N-1A under section 8(b) of the Act. On June 28, 1983, PMC filed a registration statement under the Securities Act of 1933. The registration statement became effective on November 23, 1993. 2. PMC is organized as a corporation under the laws of the state of Florida and has its principal place of business in the state of Texas. 3. Section 54(a) of the Act provides that any company that satisfies the definition of a BDC under section 2(a)(48)(A) and (B) may elect to be subject to the provisions of sections 55 through 65 and be regulated as a BDC by filing with the SEC a notification of such election, if such company: (i) has a class of its equity securities registered under section 12 of the Securities Exchange Act of 1934 (the ```Exchange Act''); or (i) has filed a registration statement pursuant to section 12 of the Exchange Act for a class of its equity securities. 4. On June 7, 1994, PMC elected BDC status by filing a form N-54A. 5. Section 8(f) of the Act permits the SEC to deregister a registered investment company on its own motion if it finds that the company has ceased to be an investment company. 6. Section 8 of the Act, requiring registration of investment companies, does not apply to BDCs. After an existing registered investment company has filed an election to be regulated as a BDC, the SEC on its own motion will declare by order under section 8(f) that the company's registration under the Act has ceased to be in effect. Such an order will be made effective retroactively, as of the time the SEC received the company's election.\1\ --------------------------------------------------------------------------- \1\Investment Company Act Release No. 11703 (Mar. 26, 1981). --------------------------------------------------------------------------- 7. The SEC finds that PMC ceased to be a registered investment company on June 7, 1994. For the SEC, by the Division of Investment Management, under delegated authority. Jonathan G. Katz, Secretary. [FR Doc. 94-27755 Filed 11-8-94; 8:45 am] BILLING CODE 8010-01-M