[Federal Register Volume 62, Number 16 (Friday, January 24, 1997)]
[Notices]
[Page 3721]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-1679]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collections; Request For Public Comment

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549

Extension:
    Rule 17a-8, SEC File No. 270-225, OMB Control No. 3235-0235
    Form N-8F, SEC File No. 270-136, OMB Control No. 3235-0157
    Form N-23C-1, SEC File No. 270-230, OMB Control No. 3235-0230

    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 (``Commission'') is publishing for public comment the 
following summaries of previously approved information collection 
requirements.
    Rule 17a-8 exempts certain mergers and similar business 
combinations (``mergers'') of affiliated registered investment 
companies (``funds'') from section 17(a)'s prohibitions on purchases 
and sales between a fund and its affiliates. The rule requires fund 
directors to consider certain issues and to record their findings in 
board minutes. The average annual burden of meeting the requirements of 
Rule 17a-8 is estimated to be 1.5 hours for each fund. The Commission 
estimates that about seventeen funds rely each year on the rule. The 
total average annual burden for all respondents is therefore twenty-six 
hours.
    For N-8F is the form prescribed for use by registered investment 
companies in certain circumstances to request orders of the Commission 
declaring that they have ceased to be investment companies. The form 
takes approximately 6 hours to complete. It is estimated that 
approximately 160 investment companies file Form N-8F annually, for a 
total annual burden of 960 hours.
    For N-23C-1 assists the Commission and the public in monitoring 
repurchases by closed-end investment companies (``closed-end funds'') 
of their own securities under Rule 23c-1, which permits such 
repurchases in limited circumstances subject to certain safeguards. The 
form, which must be filed within the first 10 days of the calendar 
month following any month in which securities are repurchased, requires 
the closed-end fund to report certain information including the date, 
amount, and price of repurchases and other information. It is estimated 
that four closed-end funds are affected by the rule each year, and that 
they file approximately 23 reports in total each year (based on the 
average of 0 to 12 reports filed annually by each fund) requiring one 
hour per report, for a total of 23 annual burden hours.
    Written comments are requested on: (a) Whether the collections of 
information are necessary for the proper performance of the functions 
of the Commission, including whether the information has practical 
utility; (b) the accuracy of the Commission's estimate of the burdens 
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.
    Direct your written comments to Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 5th Street, NW., Washington, DC 20549.

    Dated: January 16, 1997.
Jonathan G. Katz,
Secretary.
[FR Doc. 97-1679 Filed 1-23-97; 8:45 am]
BILLING CODE 8010-01-M