[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] ======================================================================= ----------------------------------------------------------------------- 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