Federal Register / Vol. 76, No. 42 / Thursday, March 3, 2011 / Notices 11825 

1 15 U.S.C 80a–1 et seq. 

deadline for the Postal Service to file the 

administrative record with the 

Commission is March 10, 2011. 39 CFR 

3001.113. In addition, the due date for 

any responsive pleading by the Postal 

Service to this Notice is March 10, 2011. 

Availability; Web site posting. The 

Commission has posted the appeal and 

supporting material on its Web site at 

http://www.prc.gov. Additional filings 

in this case and participants’ 

submissions also will be posted on the 

Commission’s Web site, if provided in 

electronic format or amenable to 

conversion, and not subject to a valid 

protective order. Information on how to 

use the Commission’s Web site is 

available online or by contacting the 

Commission’s Webmaster via telephone 

at 202–789–6873 or via electronic mail 

at prc-webmaster@prc.gov. 

The appeal and all related documents 

also are available for public inspection 

in the Commission’s docket section. 

Docket section hours are 8 a.m. to 4:30 

p.m., Monday through Friday, except on 

Federal government holidays. Docket 

section personnel may be contacted via 

electronic mail at prc-dockets@prc.gov 

or via telephone at 202–789–6846. 

Filing of documents. All filings of 

documents in this case shall be made 

using the Internet (Filing Online) 

pursuant to Commission rules 9(a) and 

10(a) at the Commission’s Web site, 

http://www.prc.gov, unless a waiver is 

obtained. 39 CFR 3001.9(a) and 

3001.10(a). Instructions for obtaining an 

account to file documents online may be 

found on the Commission’s Web site or 

by contacting the Commission’s docket 

section at prc-dockets@prc.gov or via 

telephone at 202–789–6846. 

The Commission reserves the right to 

redact personal information which may 

infringe on an individual’s privacy 

rights from documents filed in this 

proceeding. 

Intervention. Those, other than the 

Petitioner and respondent, wishing to be 

heard in this matter are directed to file 

a notice of intervention. See 39 CFR 

3001.111(b). Notices of intervention in 

this case are to be filed on or before 

March 22, 2011. A notice of intervention 

shall be filed using the Internet (Filing 

Online) at the Commission’s Web site 

unless a waiver is obtained for hardcopy 

filing. See 39 CFR 3001.9(a) and 

3001.10(a). 

Further procedures. By statute, the 

Commission is required to issue its 

decision within 120 days from the date 

it receives the appeal. See 39 U.S.C. 

404(d)(5). A procedural schedule has 

been developed to accommodate this 

statutory deadline. In the interest of 

expedition, in light of the 120-day 

decision schedule, the Commission may 

request the Postal Service or other 

participants to submit information or 

memoranda of law on any appropriate 

issue. As required by the Commission 

rules, if any motions are filed, responses 

are due 7 days after any such motion is 

filed. See 39 CFR 3001.21. 

It is ordered: 

1. The Postal Service shall file the 

administrative record regarding this 

appeal no later than March 10, 2011. 

2. Any responsive pleading by the 

Postal Service to this Notice is due no 

later than March 10, 2011. 

3. The procedural schedule listed 

below is hereby adopted. 

4. Pursuant to 39 U.S.C. 505, 

Cassandra L. Hicks is designated officer 

of the Commission (Public 

Representative) to represent the 

interests of the general public. 

5. The Secretary shall arrange for 

publication of this Notice and Order in 

the Federal Register. 

PROCEDURAL SCHEDULE

February 23, 2011 ............................................... Filing of Appeal. 

March 10, 2011 ................................................... Deadline for Postal Service to file administrative record in this appeal. 

March 10, 2011 ................................................... Deadline for the Postal Service to file any responsive pleading 

March 22, 2011 ................................................... Deadline for notices to intervene (see 39 CFR 3001.111(b)). 

March 30, 2011 ................................................... Deadline for Petitioner’s Form 61 or initial brief in support of petition (see 39 CFR 3001.115(a) 

and (b)). 

April 19, 2011 ...................................................... Deadline for answering brief in support of Postal Service (see 39 CFR 3001.115(c)). 

May 4, 2011 ........................................................ Deadline for reply briefs in response to answering briefs (see 39 CFR 3001.115(d)). 

May 11, 2011 ...................................................... Deadline for motions by any party requesting oral argument; the Commission will schedule 

oral argument only when it is a necessary addition to the written filings (see 39 CFR 

3001.116). 

June 20, 2011 ..................................................... Expiration of the Commission’s 120-day decisional schedule (see 39 U.S.C. 404(d)(5)). 

By the Commission. 

Shoshana M. Grove, 

Secretary. 

[FR Doc. 2011–4752 Filed 3–2–11; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Rule 27d–1 and Form N–27D–1; SEC 

File No. 270–499; OMB Control No. 

3235–0560. 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 350l et seq.), the Securities 

and Exchange Commission (the 

‘‘Commission’’) has submitted to the 

Office of Management and Budget 

(‘‘OMB’’) a request for extension of the 

previously approved collections of 

information under the Investment 

Company Act of 1940 (‘‘Act’’) 1

summarized below. 

Rule 27d–1 (17 CFR 270.27d–1) is 

entitled ‘‘Reserve Requirements for 

Principal Underwriters and Depositors 

to Carry Out the Obligations to Refund 

Charges Required by Section 27(d) and 

Section 27(f) of the Act.’’ Form N–27D– 

1 (17 CFR 274.127d–1) is entitled 

‘‘Accounting of Segregated Trust 

Account.’’ Rule 27d–1 requires the 

depositor or principal underwriter for 

an issuer of a periodic payment plan to 

deposit funds into a segregated trust 

account to provide assurance of its 

ability to fulfill its refund obligations 

under sections 27(d) and 27(f) of the 

Act. The rule sets forth minimum 

reserve amounts and guidelines for the 

management and disbursement of the 

assets in the account. A single account 

may be used for the periodic payment 

plans of multiple investment 

companies. Rule 27d–1(j) directs 

depositors and principal underwriters to 

make an accounting of their segregated 

trust accounts on Form N–27D–1, which 

is intended to facilitate the 


srobinson on DSKHWCL6B1PROD with NOTICES
11826 Federal Register / Vol. 76, No. 42 / Thursday, March 3, 2011 / Notices 

2 Instead of relying on rule 27d–1 and filing Form 

N–27D–1, depositors or principal underwriters for 

the issuers of periodic payment plans may rely on 

the exemption afforded by rule 27d–2. In order to 

comply with rule 27d–2: (i) The depositor or 

principal underwriter must secure from an 

insurance company a written guarantee of the 

refund requirements; (ii) the insurance company 

must satisfy certain financial criteria; and (iii) the 

depositor or principal underwriter must file as an 

exhibit to the issuer’s registration statement, a copy 

of the written undertaking, an annual statement that 

the insurance company has met the requisite 

financial criteria on a monthly basis, and an annual 

audited balance sheet. 1 15 U.S.C. 80a–17(a). 2 44 U.S.C. 3501. 

Commission’s oversight of compliance 

with the reserve requirements set forth 

in rule 27d–1. The form requires 

depositors and principal underwriters to 

report deposits to a segregated trust 

account, including those made pursuant 

to paragraphs (c) and (e) of the rule. 

Withdrawals pursuant to paragraph (f) 

of the rule also must be reported. In 

addition, the form solicits information 

regarding the minimum amount 

required to be maintained under 

paragraphs (d) and (e) of rule 27d–1. 

Depositors and principal underwriters 

must file the form once a year on or 

before January 31 of the year following 

the year for which information is 

presented.2

Rule 27d–1, which was explicitly 

authorized by statute, provides 

assurance that depositors and principal 

underwriters of issuers have access to 

sufficient cash to meet the demands of 

certificate holders who reconsider their 

decisions to invest in a periodic 

payment plan. The information 

collection requirements in rule 27d–1 

enable the Commission to monitor 

compliance with reserve rules. 

Effective October 27, 2006, the 

Military Personnel Financial Services 

Protection Act banned the issuance or 

sale of new periodic payment plans. 

Accordingly, the staff estimates that 

there is no information collection 

burden associated with rule 27d–1 or 

Form N–27D–1. For administrative 

purposes, however, we are requesting 

approval for an information collection 

burden of one hour per year. This 

estimate of burden hours is not derived 

from a comprehensive or necessarily 

even representative study of the cost of 

the Commission’s rules and forms. 

Complying with the collection of 

information requirements of rule 27d–1 

is mandatory for depositors or principal 

underwriters of issuers of periodic 

payment plans unless they comply with 

the requirements in rule 27d–2 (17 CFR 

270.27d–2). The information provided 

pursuant to rule 27d–1 is public and, 

therefore, will not be kept confidential. 

An agency may not conduct or sponsor, 

and a person is not required to respond 

to, a collection of information unless it 

displays a valid OMB control number. 

The public may view the background 

documentation for this information 

collection at the following Web site, 

http://www.reginfo.gov. Comments 

should be directed to: (i) Desk Officer 

for the Securities and Exchange 

Commission, Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, Room 10102, 

New Executive Office Building, 

Washington, DC 20503, or by sending an 

e-mail to: 

Shagufta_Ahmed@omb.eop.gov; and 

(ii) Thomas Bayer, Chief Information 

Officer, Securities and Exchange 

Commission, c/o Remi Pavlik-Simon, 

6432 General Green Way, Alexandria, 

VA 22312 or send an email to: 

PRA_Mailbox@sec.gov. Comments must 

be submitted to OMB within 30 days of 

this notice. 

Dated: February 25, 2011. 

Cathy H. Ahn, 

Deputy Secretary. 

[FR Doc. 2011–4723 Filed 3–2–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Rule 17a–6; SEC File No. 270–506; 

OMB Control No. 3235–0564. 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501), the Securities and 

Exchange Commission (‘‘Commission’’) 

has submitted to the Office of 

Management and Budget (‘‘OMB’’) a 

request for extension of the previously 

approved collection of information 

discussed below. 

Section 17(a) of the Investment 

Company Act of 1940 (the ‘‘Act’’) 

generally prohibits affiliated persons of 

a registered investment company 

(‘‘fund’’) from borrowing money or other 

property from, or selling or buying 

securities or other property to or from, 

the fund or any company that the fund 

controls.1 Rule 17a–6 (17 CFR 270.17a– 

6) permits a fund and a ‘‘portfolio 

affiliate’’ (a company that is an affiliated 

person of the fund because the fund 

controls the company, or holds five 

percent or more of the company’s 

outstanding voting securities) to engage 

in principal transactions that would 

otherwise be prohibited under section 

17(a) of the Act under certain 

conditions. A fund may not rely on the 

exemption in the rule to enter into a 

principal transaction with a portfolio 

affiliate if certain prohibited 

participants (e.g., directors, officers, 

employees, or investment advisers of 

the fund) have a financial interest in a 

party to the transaction. Rule 17a–6 

specifies certain interests that are not 

‘‘financial interests,’’ including any 

interest that the fund’s board of 

directors (including a majority of the 

directors who are not interested persons 

of the fund) finds to be not material. A 

board making this finding is required to 

record the basis for the finding in its 

meeting minutes. This recordkeeping 

requirement is a collection of 

information under the Paperwork 

Reduction Act of 1995 (‘‘PRA’’).2

The rule is designed to permit 

transactions between funds and their 

portfolio affiliates in circumstances in 

which it is unlikely that the affiliate 

would be in a position to take advantage 

of the fund. In determining whether a 

financial interest is ‘‘material,’’ the board 

of the fund should consider whether the 

nature and extent of the interest in the 

transaction is sufficiently small that a 

reasonable person would not believe 

that the interest affected the 

determination of whether to enter into 

the transaction or arrangement or the 

terms of the transaction or arrangement. 

The information collection requirements 

in rule 17a–6 are intended to ensure that 

Commission staff can review, in the 

course of its compliance and 

examination functions, the basis for a 

board of director’s finding that the 

financial interest of an otherwise 

prohibited participant in a party to a 

transaction with a portfolio affiliate is 

not material. 

Based on staff discussions with fund 

representatives, we estimate that funds 

currently do not rely on the exemption 

from the term ‘‘financial interest’’ with 

respect to any interest that the fund’s 

board of directors (including a majority 

of the directors who are not interested 

persons of the fund) finds to be not 

material. Accordingly, we estimate that 

annually there will be no principal 

transactions under rule 17a–6 that will 

result in a collection of information. 

The Commission requests 

authorization to maintain an inventory 

of one burden hour to ease future 

renewals of rule 17a–6’s collection of 

information analysis should funds rely 


srobinson on DSKHWCL6B1PROD with NOTICES