Federal Register / Vol. 60, No. 12 / Thursday, January 19, 1995 / Notices 3893

whether all classes of shares are offered

through each prospectus. Each Fund

will disclose the respective expenses

and performance data applicable to each

class of shares in every shareholder

report. The shareholder reports will

contain, in the statement of assets and

liabilities and statement of operations,

information related to the Fund as a

whole generally and not on a per class

basis. Each Fund’s per share data,

however, will be prepared on a per class

basis with respect to all classes of shares

of the Fund. To the extent any

advertisement or sales literature

describes the expenses or performance

data applicable to any class of shares, it

also will disclose the respective

expenses and/or performance data

applicable to all classes of shares of

such Fund. The information provided

by applicants for publication in any

newspaper or similar listing of a Fund’s

net asset value or public offering price

will separately present this information

for each class of shares of such Fund.

14. Any class of shares with a

conversion feature will convert into

another class of shares on the basis of

the relative net asset values of the two

classes, without the imposition of any

sales load, fee, or other charge. After

conversion, the converted shares will be

subject to an asset-based sales charge

and/or service fee (as those terms are

defined in Article III, Section 26 of the

NASD’s Rules of Fair Practice), if any,

that in the aggregate are lower than the

asset-based sales charge and service fee

to which they were subject prior to the

conversion.

15. If a Fund adopts and implements

any amendment to its Rule 12b–1 Plan

(or, if presented to shareholders, adopts

or implements any amendment of a

Service Plan) that would increase

materially the amount that may be borne

by the class of shares (‘‘Target Class’’)

into which the class of shares with a

conversion feature (‘‘Purchase Class’’)

will convert under the plan, existing

Purchase Class shares will stop

converting into Target Class shares

unless the Purchase Class shareholders,

voting separately as a class, approve the

proposal. The trustees shall take such

action as is necessary to ensure that

existing Purchase Class shares are

exchanged or converted into a new class

of shares (‘‘New Target Class’’), identical

in all material respects to the Target

Class as it existed prior to

implementation of the proposal, no later

than the date such shares previously

were scheduled to convert into Target

Class shares. If deemed advisable by the

trustees to implement the foregoing,

such action may include the exchange

of all existing Purchase Class shares for

a new class (‘‘New Purchase Class’’),

identical to existing Purchase Class

shares in all material respects except

that New Purchase Class shares will

convert into New Target Class shares. A

New Target Class or New Purchase Class

may be formed without further

exemptive relief. Exchanges or

conversions described in this condition

shall be effected in a manner that the

trustees reasonably believe will not be

subject to federal taxation. In

accordance with condition 4 above, any

additional cost associated with the

creation, exchange, or conversion of

New Target Class shares or New

Purchase Class shares shall be borne

solely by the Adviser and the

Distributor. Purchase Class shares sold

after the implementation of the proposal

may convert into Target Class shares

subject to the higher maximum

payment, provided that the material

features of the Target Class plan and the

relationship of such plan to the

Purchase Class shares are disclosed in

an effective registration statement.

16. Applicants will comply with

proposed rule 6c–10 under the Act,

Investment Company Act Release No.

16619 (Nov. 2, 1988), as such rule is

currently proposed and as it may be

reproposed, adopted, or amended.

17. Applicants acknowledge that the

grant of the exemptive order requested

by this application will not imply SEC

approval, authorization, or acquiescence

in any particular level of payments that

the Funds may make pursuant to Rule

12b–1 Plans or Service Plans in reliance

on the exemptive order.

For the Commission, by the Division of

Investment Management, under delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–1283 Filed 1–18–95; 8:45 am]

BILLING CODE 8010–01–M

Issuer Delisting; Notice of Application

To Withdraw From Listing and

Registration; (Crown Crafts, Inc.,

Common Stock, $1.00 Par Value) File

No. 1–7604

January 11, 1995.

Crown Crafts, Inc. (‘‘Company’’) has

filed an application with the Securities

and Exchange Commission

(‘‘Commission’’), pursuant to Section

12(d) of the Securities Exchange Act of

1934 (‘‘Act’’) and Rule 12d2–2(d)

promulgated thereunder, to withdraw

the above specified security (‘‘Security’’)

from listing and registration on the

American Stock Exchange, Inc.

(‘‘Amex’’).

The reasons alleged in the application

for withdrawing the Security from

listing and registration include the

following:

According to the Company, in

addition to being listed on the Amex,

the Security is listed on the New York

Stock Exchange, Inc. (‘‘NYSE’’). The

Security commenced trading on the

NYSE at the opening of business on

December 16, 1994 and concurrently

therewith the Security was suspended

from trading on the Amex.

In making the decision to withdraw

the Security from listing on the Amex,

the Company considered the direct and

indirect costs and expenses attendant in

maintaining the dual listing of its

Security on the NYSE and on the Amex.

The Company does not see any

particular advantage in the dual trading

of the Security and believes that dual

listing would fragment the market for

the Security.

Any interested person may, on or

before February 2, 1995, submit by letter

to the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

N.W., Washington, D.C. 20549, facts

bearing upon whether the application

has been made in accordance with the

rules of the Amex and what terms, if

any, should be imposed by the

Commission for the protection of

investors. The Commission, based on

the information submitted to it, will

issue an order granting the application

after the date mentioned above, unless

the Commission determines to order a

hearing on the matter.

For the Commission, by the Division of

Marketing Regulation, pursuant to delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–1231 Filed 1–18–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. IC–20833; 811–4135]

Drexel Burnham Lambert Unit Trusts;

Notice of Application

January 12, 1995.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of application for

deregistration under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANT: Drexel Burnham Lambert

Unit Trusts

RELEVANT ACT SECTION: Order requested

under section 8(f).

SUMMARY OF APPLICATION: Applicant

seeks an order declaring it has ceased to

be an investment company.