[Federal Register Volume 62, Number 82 (Tuesday, April 29, 1997)] [Notices] [Pages 23287-23288] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 97-10942] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 6e-2, SEC File No. 270-177, OMB Control No. 3235-0177 Rule 22d-1, SEC File No. 270-275, OMB Control No. 3235-0310 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'') has submitted to the Office of Management and Budget requests for approval of extension on previously approved collections of information: Rule 6e-2 [17 CFR 270.6e-2] under the Investment Company Act of 1940 (``Act'') is an exemptive rule which permits separate accounts, formed by life insurance companies, to fund certain variable life insurance products. The rule exempts such separate accounts from the registration requirements under the Act, among others, on conditions that it comply with all but certain designated provisions of the Act and meet the other requirements of the rule. The rule sets forth several information collection requirements. Rule 6e-2 provides a separate account with an exemption from the registration [[Page 23288]] provisions of section 8 of the Act if the account files with the Commission Form N-6EI-1, a notification of claim of exemption. The rule also exempts a separate account from a number of other sections of the Act, provided that the separate account makes certain disclosure in its registration statements and reports to contract holders about actions taken under those exemptions. In regard to the foregoing, Rule 6e-2 provides an exemption from section 17(f) of the Act. Section 17(f) requires that every registered management company meet various custody requirements for its securities and similar investments. Paragraph (b)(9) of Rule 6e-2 provides an exemption from the requirements of section 17(f) of the Act and imposes a reporting burden and certain other conditions. Paragraph (b)(9) applies only to management accounts that offer life insurance contracts subject to Rule 6e-2. Since 1988, there have been no filings under paragraph (b)(9) of Rule 6e-2 by management accounts. Further, all post-effective amendments accounts under Rule 6e-2 have been structured as unit investment trusts and are thus not subject to the requirements of paragraph (b)(9) of the rule. Therefore, since 1988, there has been no burden to the industry regarding the information collection requirements of paragraph (b)(9) of Rule 6e-2. Rule 22d-1 [17 CFR 270.22d-1] provides registered investment companies that issue redeemable securities (``funds'') an exemption from section 22(d) of the Act to the extent necessary to permit scheduled variations in or elimination of the sales load on fund securities for particular classes of investors or transactions, provided certain conditions are met. The rule imposes an annual burden per fund of approximately 15 minutes, so that the total annual burden for the approximately 1,865 funds that might rely on the rule is estimated to be 466 hours. General comments regarding the estimated burden hours should be directed to the Desk Officer for the Securities and Exchange Commission at the address below. Any comments concerning the accuracy of the estimated average burden hours for compliance with Commission rules and forms should be directed to Michael E. Bartell, Associate Executive Director, Office of Information Technology, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549 and Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 3208, New Executive Office Building, Washington, DC 20503. Dated: April 22, 1997. Margaret H. McFarland, Deputy Secretary. [FR Doc. 97-10942 Filed 4-28-97; 8:45 am] BILLING CODE 8010-01-M