[Federal Register Volume 65, Number 54 (Monday, March 20, 2000)] [Notices] [Pages 15022-15023] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 00-6829] ----------------------------------------------------------------------- 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, 450 Fifth Street, N.W., Washington, D.C. 20549. Extension: Form N-54A, SEC File No. 270-182, OMB Control No. 3235-0237 Form N-54C, SEC File No. 270-184, OMB Control No. 3235-0236 Form N-6F, SEC File No. 270-185, OMB Control No. 3235-0238 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 [44 U.S.C. 3501 et seq.] (the ``Act''), the Securities and Exchange Commission (``Commission'') has submitted to the Office of Management and Budget (``OMB'') a request for extension of the previously approved collections of information discussed below. Form N-54A Under the Investment Company Act of 1940; Notification of Election to be Subject to Sections 55 Through 65 of the Investment Company Act of 1940 Filed Pursuant to Section 54(a) of the Act Form N-54A [17 CFR Sec. 274.53] is the notification of election to the Commission to be regulated as a business development company. A company making such an election only has to file a Form N-54A once. It is estimated that approximately 3 respondents per year file with the Commission a Form N-54A. Form N-54A requires approximately 0.5 burden hours per response resulting from creating and filing the information required by the form. The total burden hours for Form N-54A would be 1.5 hours per year in the aggregate. The estimated annual burden of 1.5 hours represents a decrease of 0.5 hours over the prior estimate of 2 hours. The decrease in burden hours is attributable to a decrease in the number of respondents from 4 to 3. Form N-54C Under the Investment Company Act of 1940, Notification of Withdrawal of Election to be Subject to Sections 55 through 65 of the Investment Company Act of 1940 Filed Pursuant to Section 54(c) of the Investment Company Act of 1940 Form N-54C [17 CFR Sec. 274.54] is a notification to the Commission that a company withdraws its election to be regulated as a business development company. Such a company only has to file a Form N-54C once. [[Page 15023]] It is estimated that approximately 12 respondents per year file with the Commission a Form N-54C. Form N-54C requires approximately 1 burden hour per response resulting from creating and filing the information required by the form. The total burden hours for Form N-54C would be 12 hours per year in the aggregate. The estimated annual burden of 12 hours represents an increase of 11 hours over the prior estimate of 1 hour. The increase in burden hours is attributable to an increase in the number of respondents from 1 to 12. Form N-6F Under the Investment Company Act of 1940, Notice of Intent to Elect to be Subject to Sections 55 Through 65 of the Investment Company Act of 1940 Certain companies may have to make a filing with the Commission before they are ready to elect on Form N-54A to be regulated as a business development company.\1\ A company that is excluded from the definition of ``investment company'' by Section 3(c)(1) of the Investment Company Act of 1940 because it has fewer than one hundred shareholders and is not making a public offering of its securities may lose such an exclusion solely because it proposes to make a public offering of securities as a business development company. Such a company, under certain conditions, would not lose its exclusion if it notifies the Commission on Form N-6F [17 CFR 274.15] of its intent to make an election to be regulated as a business development company. The company only has to file a Form N-6F once. --------------------------------------------------------------------------- \1\ A company might not be prepared to elect to be subject to Sections 55 through 65 of the Investment Company Act of 1940 because its capital structure or management compensation plan is not yet in compliance with the requirements of those sections. --------------------------------------------------------------------------- It is estimated that approximately 3 respondents per year file with the Commission a Form N--6F. Form N-6F requires approximately 0.5 burden hours per response resulting from creating and filing the information required by the form. The total burden hours for Form N-6F would be 1.5 hours per year in the aggregate. The estimated annual burden 1.5 hours represents a decrease of 0.5 hours over the prior estimate of 2 hours. The decrease in burden hours is attributable to a decrease in the number of respondents from 4 to 3. The estimates of average burden hours for Form N-54A, N-54C and N- 6F are made solely for the purposes of the Act and are not derived from a comprehensive or even representative survey or study of the cost of Commission rules and forms. The collections of information under Forms N-54A, N-54C and N-6F are mandatory. The information provided by such Forms is not kept confidential. The Commission may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. General comments regarding the above information should be directed to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Washington, D.C. 20503; and (ii) Michael E. Bartell, Associate Executive Director, Office of Information Technology, Securities and Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549. Comments must be submitted to OMB within 30 days of this notice. Dated: March 14, 2000. Margaret H. McFarland, Deputy Secretary. [FR Doc. 00-6829 Filed 3-17-00; 8:45 am] BILLING CODE 8010-01-M