Federal Register / Vol. 69, No. 231 / Thursday, December 2, 2004 / Notices 70161

addresses section below on or before 

January 31, 2005.

ADDRESSES: Interested parties are 

invited to submit written comments 

regarding the collection of information. 

Send comments to Mr. Gerald B. 

Lindrew, Office of Policy and Research, 

U.S. Department of Labor, Employee 

Benefits Security Administration, 200 

Constitution Avenue, NW., Room N–

5647, Washington, DC 20210. 

Telephone: (202) 693–8410 Fax: (202) 

693–4745 (these are not toll-free 

numbers).

SUPPLEMENTARY INFORMATION: 

I. Background 

Without the relief provided by this 

exemption, an open-end mutual fund 

would be unable to sell shares to or 

purchase shares from a plan when the 

fiduciary with respect to the plan is also 

the investment advisor for the mutual 

fund. As a result, plans would be 

compelled to liquidate their existing 

investments involving such transactions 

and to amend their plan documents to 

establish new investment structures and 

policies. 

In order to insure that the exemption 

is not abused and that the rights of 

participants and beneficiaries are 

protected, the Department has included 

in the exemption three basic disclosure 

requirements. The first requires at the 

time of the purchase or sale of such 

mutual fund shares that the plan’s 

independent fiduciary receive a copy of 

the current prospectus issued by the 

open-end mutual fund and a full and 

detailed written statement of the 

investment advisory fees charges to or 

paid by the plan and the open-end 

mutual fund to the investment advisor. 

The second requires that the 

independent fiduciary approve in 

writing such purchases and sales. The 

third requires that the independent 

fiduciary, once notified of changes in 

the fees, re-approve in writing the 

purchase and sale of mutual fund 

shares. 

II. Review Focus 

The Department of Labor 

(Department) is particularly interested 

in comments that: 

• Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of the agency, including 

whether the information will have 

practical utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submissions 

of responses. 

III. Current Actions 

The Office of Management and 

Budget’s approval of this ICR will expire 

on February 28, 2005. This notice 

requests comments on the extension of 

the ICR. The Department is not 

proposing or implementing changes to 

the existing ICR at this time in 

connection with this extension. 

Comments submitted in response to this 

notice will be summarized and/or 

included in the request for OMB 

approval of the information collection 

request; they will also become a matter 

of public record. 

Agency: Department of Labor, 

Employee Benefits Security 

Administration. 

Title: Prohibited Transaction Class 

Exemption 77–4 for Certain 

Transactions Between Investment 

Companies and Employee Benefit Plans. 

Type of Review: Extension of 

currently approved collections. 

OMB Numbers: 1210–0049. 

Affected Public: Individuals or 

households; business or other for-profit; 

not-for-profit institutions. 

Total Respondents: 431. 

Total Responses: 82,000. 

Frequency of Response: On occasion. 

Average Time per Response: 5 

minutes. 

Total Annual Burden: 7,000 hour.

Dated: November 24, 2004. 

Gerald B. Lindrew, 

Deputy Director, Office of Policy and 

Research, Employee Benefits Security 

Administration.

[FR Doc. 04–26549 Filed 12–1–04; 8:45 am] 

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Employee Benefits Security 

Administration 

Proposed Extension of Information 

Collection Request Submitted for 

Public Comment; Prohibited 

Transaction Exemption 75–1 BrokerDealers, Reporting Dealers, Banks 

Engaging in Securities Transactions

AGENCY: Employee Benefits Security 

Administration, Department of Labor.

ACTION: Notice.

SUMMARY: The Department of Labor, as 

part of its continuing effort to reduce 

paperwork and respondent burden, 

conducts a preclearance consultation 

program to provide the general public 

and Federal agencies with an 

opportunity to comment on proposed 

and continuing collections of 

information in accordance with the 

Paperwork Reduction Act of 1995 (PRA 

95). This program helps to ensure that 

requested data can be provided in the 

desired format, reporting burden (time 

and financial resources) is minimized, 

collection instruments are clearly 

understood, and the impact of collection 

requirements on respondents can be 

properly assessed. Currently, the 

Employee Benefits Security 

Administration is soliciting comments 

on the proposed extension of the 

information collection provisions of 

Prohibited Transaction Class Exemption 

75–1. 

A copy of the information collection 

request (ICR) can be obtained by 

contacting the individual shown in the 

ADDRESSES section of this notice.

DATES: Written comments must be 

submitted to the office shown in the 

ADDRESSES section on or before January 

31, 2005.

ADDRESSES: Gerald B. Lindrew, 

Department of Labor, Employee Benefits 

Security Administration, 200 

Constitution Avenue, NW., Washington, 

DC 20210, (202) 693–8410, fax (202) 

693–4745 (these are not toll-free 

numbers).

SUPPLEMENTARY INFORMATION: 

I. Background 

Prohibited Transaction Class 

Exemption 75–1 provides an exemption 

from prohibited transaction provisions 

of the Employment Retirement Income 

Security Act of 1974 (ERISA). The 

exemption permits, under certain 

conditions, an employee benefit plan to 

purchase securities from broker-dealers’

personal inventories of stocks, from 

underwriting syndicates in which a plan 

fiduciary is a member, from banks, from 

reporting dealers, and from a market 

makers even if a market-maker is a plan 

fiduciary. The exemption also permits, 

under certain conditions, a plan to 

accept an extension of credit from a 

broker-dealer for the purpose of 

facilitating settlement of a securities 

transaction. 

By requiring that records pertaining to 

the exempted transaction be maintained 

for six years, this ICR insures that the 

exemption is not abused, the rights of 

the participants and beneficiaries are 

70162 Federal Register / Vol. 69, No. 231 / Thursday, December 2, 2004 / Notices 

protected, and that compliance with the 

exemption’s conditions can be 

confirmed. The exemption affects 

participants and beneficiaries of the 

plans that are involved in such 

transactions as well as certain brokerdealers, reporting dealers, banks, 

underwriting syndicates, and market 

makers. 

II. Review Focus 

The Department of Labor 

(Department) is particularly interested 

in comments that: 

• Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of the agency, including 

whether the information will have 

practical utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submissions 

of responses. 

III. Current Actions 

The Office of Management and 

Budget’s (OMB) approval of this ICR 

will expire on January 31, 2005. After 

considering comments received in 

response to this notice, the Department 

intends to submit the ICR to OMB for 

continuing approval. No change to the 

existing ICR is proposed or made at this 

time. 

Comments submitted in response to 

this notice will be summarized and/or 

included in the request for OMB 

approval of the information collection 

request; they will also become a matter 

of public record. 

Agency: Employee Benefits Security 

Administration, Department of Labor. 

Title: Prohibited Transaction Class 

Exemption 75–1—Broker-Dealers, 

Reporting Dealers, Banks Engaging in 

Securities Transactions. 

Type of Review: Extension of a 

currently approved collection of 

information. 

OMB Number: 1210–0060. 

Affected Public: Individuals or 

households; Business or other for-profit; 

Not-for-profit institutions. 

Respondents: 10,750. 

Responses: 10,750. 

Average Response Time: 5 minutes. 

Estimated Total Burden Hours: 896.

Dated: November 24, 2004. 

Gerald B. Lindrew, 

Deputy Director, Office of Policy and 

Research, Employee Benefits Security 

Administration.

[FR Doc. 04–26550 Filed 12–1–04; 8:45 am] 

BILLING CODE 4510–29–P

NEIGHBORHOOD REINVESTMENT 

CORPORATION 

Regular Board of Directors Meeting; 

Sunshine Act

TIME AND DATE: 2 p.m., Monday, 

December 6, 2004.

PLACE: Neighborhood Reinvestment 

Corporation, 1325 G Street, NW., Suite 

800, Washington, DC 2005.

STATUS: Open/closed.

FOR FURTHER INFORMATION CONTACT:

Jeffrey T. Bryson, General Counsel/

Secretary, (202) 220–2372; 

jbryson@nw.org.

AGENDA: 

I. Call to Order 

II. Approval of Minutes: September 20, 

2004 Regular Meeting 

III. Audit Committee Report 

A. Tape Recording of Meetings 

IV. Treasurer’s Report 

V. Establishment of a Committee To 

Review Fundraising Activities 

VI. CEO Management Report 

VII. Executive Session (Closed) 

a. Corporate Administration 

Committee Reports 

b. Update on COO Search 

VIII. Adjournment

Jeffrey T. Bryson, 

General Counsel/Secretary.

[FR Doc. 04–26678 Filed 11–30–04; 3:18 pm] 

BILLING CODE 7510–01–M

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: 

Form N–8F; SEC File No. 270–136; OMB 

Control No. 3235–0157.

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 a 

request for extension of the previously 

approved information collection of 

information discussed below. 

Form N–8F (17 CFR 274.218) is the 

form prescribed for use by registered 

investment companies in certain 

circumstances to request orders of the 

Commission declaring that the 

registration of that investment company 

cease to be in effect. The form requests, 

from investment companies seeking a 

deregistration order, information about 

(i) the investment company’s identity, 

(ii) the investment company’s 

distributions, (iii) the investment 

company’s assets and liabilities, (iv) the 

events leading to the request to 

deregister, and (v) the conclusion of 

business. The information is needed by 

the Commission to determine whether 

an order of deregistration is appropriate. 

The Form takes approximately 3 

hours on average to complete. It is 

estimated that approximately 261 

investment companies file Form N–8F 

annually, so that the total annual 

burden for the form is estimated to be 

783 hours. The estimate of average 

burden hours is made solely for the 

purposes of the Paperwork Reduction 

Act and is not derived from a 

comprehensive or even a representative 

survey or study. 

The collection of information on Form 

N–8F is not mandatory. The information 

provided on N–8F is not 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 

currently valid OMB control number. 

General requirements 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, Room 10102, 

New Executive Office Building, 

Washington, DC 20503, or e-mail to: 

DavidlRostker@omb.eop.gov; and (ii) 

R. Corey Booth, Director/Chief 

Information Officer, Office of 

Information Technology, Securities and 

Exchange Commission, 450 5th Street, 

NW., Washington, DC 20549. Comments 

must be submitted to OMB within 30 

days of this notice.

November 22, 2004. 

Margaret H. McFarland, 

Deputy Secretary.

[FR Doc. E4–3442 Filed 12–1–04; 8:45 am] 

BILLING CODE 8010–01–P