Federal Register / Vol. 62, No. 217 / Monday, November 10, 1997 / Notices 60541

material services during the Interim

Period change materially, SBAM, SBAM

Ltd and/or SBAM AP will apprise and

consult with the Boards of the affected

Investment Companies to assure that the

Boards, including a majority of the

disinterested directors, are satisfied that

the services provided will not be

diminished in scope or quality.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–29533 Filed 11–7–97; 8:45 am]

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Sunshine Act Meeting

Notice is hereby given, pursuant to

the provisions of the Government in the

Sunshine Act, Pub. L. 94–409, that the

Securities and Exchange Commission

will hold the following meetings during

the week of November 10, 1997.

An open meeting will be held on

Thursday, November 13, 1997, at 10:00

a.m., followed by a closed meeting.

Commissioners, Counsel to the

Commissioners, the Secretary to the

Commission, and recording secretaries

will attend the closed meeting. Certain

staff members who have an interest in

the matters may also be present.

The General Counsel of the

Commission, or his designee, has

certified that, in his opinion, one or

more of the exemptions set forth in 5

U.S.C. 552b(c)(4) (8), (9)(A) and (10) and

17 CFR 200.402(a)(4), (8), (9)(i) and (10),

permit consideration of the scheduled

matters at the closed meeting.

Commissioner Johnson, as duty

officer, voted to consider the items

listed for the closed meeting in a closed

session.

The subject matter of the open

meeting scheduled for Thursday,

November 13, 1997, at 10:00 a.m., will

be:

(1) Consideration of whether to

propose: (i) Amendments to rule 203A–

2 under the Investment Advisers Act of

1940, to exempt investment advisers

that are required to register in thirty or

more states (but do not have $25 million

or more of assets under management or

otherwise meet the criteria for SEC

registration( from the prohibition on

SEC registration; and (ii) two alternative

amendments to rule 203A–3 under the

Investment Advisers Act of 1940, to

revise the definition of investment

adviser representative. Rule 203A–3,

adopted in May 1997, excludes from the

definition of investment adviser

representative (and thus excludes from

state qualification requirements)

supervised persons of an SEC-registered

adviser if no more than ten percent of

their clients are natural persons. The

proposed amendments to rule 203A–3

would allow supervised persons who

provide services to one or a few

institutional or business client accounts

to continue to have accommodation

clients without being subject to state

qualification requirements.

Consideration also will be given to

whether to propose amendments to rule

205–3 under the Investment Advisers

Act of 1940, which permits investment

advisers to charge performance or

incentive fees to certain eligible clients.

The rule amendments would: (i)

eliminate the provisions of the rule that

prescribe contractual terms and require

specific disclosures; (ii) revise the

threshold levels for determining client

eligibility to reflect the effects of

inflation on the levels established in

1985 when rule 205–3 was adopted; and

(iii) make all ‘‘qualified purchasers’’

(who are eligible to invest in certain

privately offered investment companies

exempt from registration under section

3(c)(7) of the Investment Company Act

of 1940) eligible for the performance fee

exemption. For further information,

please contact Kathy Ireland at (202)

942–0530.

(2) Consideration of whether to

propose for public comment rule 154

under the Securities Act of 1933 and

amendments to rules 30d–1 and 30d–2

under the Investment Company Act of

1940 and rules 14a–3, 14c–3 and 14c–

7 under the Securities Exchange Act of

1934. The proposals would permit

delivery of a single prospectus or

shareholder report to investors sharing

the same address. For further

information, please contact Marilyn

Mann at (202) 942–0582 or Elizabeth

Murphy at (202) 942–2848.

The subject matter of the closed

meeting scheduled for Thursday,

November 13, 1997, following the 10:00

a.m. open meeting, will be:

Institution and settlement of

injunctive actions.

Institution and settlement of

administrative proceedings of an

enforcement nature.

At times, changes in Commission

priorities require alterations in the

scheduling of meeting items. For further

information and to ascertain what, if

any, matters have been added, deleted

or postponed, please contact:

The Office of the Secretary at (202)

942–7070.

Dated: November 5, 1997.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–29702 Filed 11–5–97; 4:52 pm]

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[File No. 500–1]

Trinity Gas Corporation; Order of

Suspension of Trading

November 6, 1997.

It appears to the Securities and

Exchange Commission that there is a

lack of current and accurate information

concerning the securities of Trinity Gas

Corporation, a Nevada corporation with

executive offices located at One Center

Ave., Nationsbank Plaza, Suite 200,

Brownwood, Texas 76801, and that

questions have been raised about recent

market activity in the securities of the

company and the adequacy of publicly

disseminated information concerning,

among other things, the valuation of the

company’s assets, the results of its

business operations, and the recent

resignation of its auditors.

The Commission is of the opinion that

the public interest and the protection of

investors require a suspension of trading

in the securities of the above listed

company.

Therefore, It Is Ordered, pursuant to

Section 12(k) of the Securities Exchange

Act of 1934, that trading in the above

listed company is suspended for the

period from 9:30 a.m. (EST), on

November 6, 1997, through 11:59 p.m.

(EST), on November 19, 1997.

By the Commission.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–29749 Filed 11–6–97; 12:35 pm]

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