Federal Register / Vol. 62, No. 151 / Wednesday, August 6, 1997 / Notices 42273

SECURITIES AND EXCHANGE

COMMISSION

[Extension: Rule 17f–2(a), SEC File No. 270–

34, OMB Control No. 3235–0034, Rule 17Ad–

4(b) & (c), SEC File No. 270–264, OMB

Control No. 3235–0341]

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.

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

request[s] for extension of the

previously approved collection[s] of

information discussed below.

Rule 17f–2(a) Fingerprinting

Requirements for Securities

Professionals, requires that securities

professionals be fingerprinted. This

requirements serves to identify security

risk personnel, to allow an employer to

make fully informed employment

decisions, and to deter possible

wrongdoers from seeking employment

in the securities industry. Partners,

directors, officers, and employees of

exchanges, broker, dealers, transfer

agents, and clearing agencies are

included.

It is estimated that approximately

10,500 respondents will submit

fingerprint cards. It is also estimated

that each respondent will submit 50

fingerprint cards. The staff estimates

that the average number of hours

necessary to comply with the Rule 17f–

2(a) is one-half hour. The total burden

is 262,500 hours for respondents, based

upon past submissions. The average cost

per hour is approximately $30.

Therefore, the total cost of compliance

for respondents is $7,875,000.

Rule 17Ad–4(b) & (c), Notices

Regarding Exempt Transfer Agent

Status, is used to document when

transfer agents are exempt, or no longer

exempt, from the minimum

performance standards and certain

recordkeeping provisions of the

Commission’s transfer agent rules. Rule

17Ad–4(c) sets forth the conditions

under which a registered transfer agent

loses its exempt status. Once the

conditions for exemption no longer

exist, the transfer agent, to keep the

appropriate regulatory authority

(‘‘ARA’’) apprised of its current status,

must prepare, and file if the ARA for the

transfer agent is the Board of Governors

of the Federal Reserve System

(‘‘BGFRS’’) or the Federal Deposit

Insurance Corporation (‘‘FDIC’’), a

notice of loss of exempt status under

paragraph (c). The transfer agent then

cannot claim exempt status under Rule

17Ad–4(b) again until it remains subject

to the minimum performance standards

for non-exempt transfer agents for six

consecutive months. The ARAs use the

information contained in the notice to

determine whether a registered transfer

agent qualifies for the exemptions, to

determine when a registered transfer

agent no longer qualifies for the

exemption, and to determine the extent

to which that transfer agent is subject to

regulation.

The BGFRS receives approximately

twelve notices of exempt status and six

notices of loss of exempt status

annually. The FDIC receives

approximately eighteen notices of

exempt status and three notices of loss

of exempt status annually. The

Commission and the Office of the

Comptroller of the Currency (‘‘OCC’’) do

not require transfer agents to file notice

of exempt status or loss of exempt

status. Instead, transfer agents whose

ARA is the Commission or OCC need

only to prepare and maintain these

notices. The Commission estimates that

approximately sixteen notice of exempt

status and loss of exempt status are

prepared annually by transfer agents

whose ARA is the Commission.

Similarly, the OCC estimates that the

transfer agents for which it is the ARA

prepare and maintain approximately

fifteen notices of exempt status and loss

of exempt status annually. Thus, a total

of approximately seventy notices of

exempt status and loss of exempt status

are prepared and maintained by transfer

agents annually. Of these seventy

notices, approximately forty are filed

with an ARA. Any additional costs

associated with filing such notices

would be limited primarily to postage,

which would be minimal. Since the

Commission estimates that no more

than one-half hour is required to

prepare each notice, the total annual

burden to transfer agents is

approximately thirty-five hours. The

average cost per hour is approximately

$30. Therefore, the total cost of

compliance to the transfer agent

community is $1050.

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, Room 3208,

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: July 29, 1997.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–20616 Filed 8–5–97; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–22773; File No. 811–3815]

Manulife Series Fund, Inc.

July 30, 1997.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’).

ACTION: Notice of application for an

order under the Investment Company

Act of 1940 (‘‘1940 Act’’).

APPLICANT: Manulife Series Fund, Inc.

RELEVANT 1940 ACT SECTION: Order

requested under Section 8(f) of the 1940

Act.

SUMMARY OF APPLICATION: Applicant

seeks an order declaring that it has

ceased to be an investment company as

defined by the 1940 Act.

FILING DATE: The application was filed

on May 28, 1997.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the Commission orders a

hearing. Interested persons may request

a hearing by writing to the Secretary of

the SEC and serving Applicant with a

copy of the request, in person or by

mail. Hearing requests should be

received by the SEC by 5:30 p.m. on

August 25, 1997, and should be

accompanied by proof of service on

Applicant in the form of an affidavit or,

for lawyers, a certificate of service.

Hearing requests should state the nature

of the requester’s interest, the reason for

the request, and the issues contested.

Persons may request notification of a

hearing by writing to the Secretary of

the SEC.

ADDRESSES: Secretary, Securities and

Exchange Commission, 450 5th Street,

NW., Washington, DC 20549. Applicant,

Manulife Series Fund, Inc., 200 Bloor

Street East, Toronto, Ontario, Canada

M4W 1E5.

FOR FURTHER INFORMATION CONTACT:

Megan Dunphy, Attorney, or Mark

Amorosi, Branch Chief, Office of

Insurance Products, Division of

Investment Management, at (202) 942–

0670.
42274 Federal Register / Vol. 62, No. 151 / Wednesday, August 6, 1997 / Notices

1 15 U.S.C. 78s(b)(1).

SUPPLEMENTARY INFORMATION: Following

is a summary of the application. The

complete application may be obtained

for a fee from the Public Reference

Branch of the SEC.

Applicant’s Representations

1. Applicant is an open-end,

diversified management investment

company organized as a corporation

under Maryland law. On July 27, 1983,

Applicant filed a notification of

registration as an investment company

on Form N–8A and a registration

statement on Form N–1 under the 1940

Act and the Securities Act of 1933. The

registration statement became effective

and the initial public offering of

Applicant’s shares commenced on June

26, 1984.

2. On September 27, 1996,

Applicant’s board of directors (the

‘‘Board’’) approved the following

agreement and plan of reorganization: (i)

The transfer of all assets and liabilities

of each of the Applicant’s portfolios to

a corresponding portfolio of NASL

Series Trust (‘‘NASL’’), a Massachusetts

business trust, in exchange for shares of

the corresponding NASL portfolio and

the assumption by that NASL portfolio

of the liabilities of Applicant’s portfolio

and (ii) the distribution of the shares

received from each NASL portfolio to

the shareholders of the corresponding

portfolio of Applicant in liquidation of

Applicant and each of its portfolios.

3. On or about November 15, 1996,

proxy materials relating to the special

meeting at which the agreement and

plan of reorganization was considered

were mailed to contract owners entitled

to instruct as to the voting of

Applicant’s shares. At the special

meeting held on December 20, 1996, the

agreement and plan of reorganization

was approved by the necessary vote of

shareholders of each of Applicant’s

portfolios.

4. On December 19, 1996, Applicant,

NASL and other related parties obtained

an order pursuant to Section 17(b) of the

Act and Rule 17d–1 thereunder to

permit certain transactions

contemplated by the reorganization.

5. On December 31, 1996, Applicant

transferred assets and liabilities of each

of its portfolios to a corresponding

portfolio of NASL in exchange for

shares of the corresponding NASL

portfolio and distributed the NASL

shares held by each portfolio pro rata to

the shareholders of such portfolio in

complete liquidation of the portfolio

and of Applicant. The aggregate net

asset value of the NASL shares received

by each of Applicant’s portfolios was

equal to the aggregate net asset values of

such portfolio.

6. The expenses of the reorganization,

other than fees payable for the

registration of shares of the NASL

portfolios in connection with the

reorganization, were borne by the

Applicant’s and NASL’s affiliates, other

than Applicant and NASL. No brokerage

commissions were paid in connection

with the reorganization.

7. Within the last 18 months,

Applicant has not transferred any of its

assets to a separate trust, the

beneficiaries of which were or are

security holders of Applicant.

8. At the time the application was

filed, Applicant had no assets, no

liabilities and no security holders.

Applicant is not a party to any litigation

or administrative proceeding, and is not

now engaged, nor does it propose to

engage, in any business activities other

than those necessary for winding up its

affairs.

9. On December 31, 1996, Applicant

filed Articles of Transfer with

Maryland’s Department of Assessments

and Taxation. Applicant intends to file

Articles of Dissolution with that office

upon receipt of the order requested in

the application.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–20614 Filed 8–5–97; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[File No. 500–1]

Discovery Zone, Inc., Order of

Suspension of Trading

August 1, 1997.

It appears to the Securities and

Exchange Commission that there is a

lack of adequate information concerning

the cancelled common stock of

Discovery Zone, Inc. (‘‘Discovery’’),

which emerged from Chapter 11

bankruptcy protection on July 29, 1997.

On July 18, 1997, the Third Amended

Joint Plan of Reorganization (‘‘the Plan’’)

was confirmed by the United States

Bankruptcy Court for the District of

Delaware. On July 29, 1997, the Plan

became effective. Pursuant to the Plan,

all of the common stock, common stock

options and partnership interests

existing as of the date of the bankruptcy

petition, March 25, 1996, shall be

cancelled, annulled and extinguished as

of the effective date of the Plan, July 29,

1997. Accordingly, the common stock,

common stock options and partnership

interests cancelled on July 29, 1997 no

longer represent an economic or

beneficial interest in Discovery.

Despite press releases and notification

by the company that Discovery’s

common stock was cancelled and no

longer represented any economic or

beneficial value, the daily trading

volume of Discovery’s common stock

was approximately six million shares

and four million shares for July 30, 1997

and July 31, 1997, respectively, the two

days following the cancellation of the

common stock. Trading in Discovery’s

common stock was continuing today,

August 1, 1997.

The Commission is of the opinion that

the public interest and the protection of

investors require a suspension of trading

in Discovery’s common stock, common

stock options and partnership interests

that were cancelled pursuant to the

Plan. This order of suspension of

trading does not affect any securities

issued by Discovery pursuant to the

Plan.

Therefore, it is ordered, pursuant to

Section 12(k) of the Securities Exchange

Act of 1934, that trading in the above

company is suspended for the period

from 3:30 p.m. (EDT), August 1, 1997,

through 3:29 p.m. (EDT), on August 15,

1997.

By the Commission.

Jonathan G. Katz,

Secretary.

[FR Doc. 97–20831 Filed 8–4–97; 12:50 pm]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–38889; File No. SR–NSCC–

96–21]

Self-Regulatory Organizations;

National Securities Clearing

Corporation; Notice of Filing of a

Proposed Rule Change to Establish

the Annuities Processing Service

July 30, 1997.

Pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’),1 notice is hereby given that on

December 26, 1996, the National

Securities Clearing Corporation

(‘‘NSCC’’) filed with the Securities and

Exchange Commission (‘‘Commission’’)

and on February 27, 1997, and May 12,

1997, amended the proposed rule

change (File No. SR–NSCC–96–21) as

described in Items I, II, and III below,

which items have been prepared

primarily by NSCC. The Commission is

publishing this notice to solicit