Federal Register / Vol. 73, No. 182 / Thursday, September 18, 2008 / Notices 54179 

Wednesday, September 24 at 11:00 a.m. 

(Closed)—If Needed 

1. Continuation of Tuesday’s closed 

session agenda. 

CONTACT PERSON FOR MORE INFORMATION: 

Julie S. Moore, Secretary of the Board, 

U.S. Postal Service, 475 L’Enfant Plaza, 

SW., Washington, DC 20260–1000. 

Telephone (202) 268–4800. 

Julie S. Moore, 

Secretary. 

[FR Doc. E8–21904 Filed 9–16–08; 11:15 am] 

BILLING CODE 7710–12–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of Filings and 

Information Services, Washington, DC 

20549. 

Extension: 

Form N–2; SEC File No. 270–21; OMB 

Control No. 3235–0026. 

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 (the 

‘‘Commission’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget for extension 

and approval. 

The title for the collection of 

information is ‘‘Form N–2 (17 CFR 

239.14 and 274.11a–1) under the 

Securities Act of 1933 and under the 

Investment Company Act of 1940, 

Registration Statement of Closed-End 

Management Investment Companies.’’ 

Form N–2 is the form used by closedend management investment companies 

(‘‘closed-end funds’’) to register as 

investment companies under the 

Investment Company Act of 1940 (15 

U.S.C. 80a–1 et seq.) (‘‘Investment 

Company Act’’) and to register their 

securities under the Securities Act of 

1933 (15 U.S.C. 77a et seq.) (‘‘Securities 

Act’’). The primary purpose of the 

registration process is to provide 

disclosure of financial and other 

information to investors and potential 

investors for the purpose of evaluating 

an investment in a security. Form N–2 

also permits closed-end funds to 

provide investors with a prospectus 

containing information required in a 

registration statement prior to the sale or 

at the time of confirmation of delivery 

of securities. The form also may be used 

by the Commission in its regulatory 

review, inspection, and policy-making 

roles. 

The Commission estimates that there 

are 140 initial registration statements 

and 60 post-effective amendments to 

initial registration statements filed on 

Form N–2 annually and that the average 

number of portfolios referenced in each 

initial filing and post-effective 

amendment is 1. The Commission 

further estimates that the hour burden 

for preparing and filing a post-effective 

amendment on Form N–2 is 116.5 hours 

per portfolio. The total annual hour 

burden for preparing and filing posteffective amendments is 6,990 hours (60 

post-effective amendments × 1 

portfolios × 116.5 hours per portfolio). 

The estimated annual hour burden for 

preparing and filing initial registration 

statements is 79,478 hours (140 initial 

registration statements × 1 portfolios × 

567.7 hours per portfolio). The total 

annual hour burden for Form N–2, 

therefore, is estimated to be 86,468 

hours (6,990 hours + 79,478 hours). 

The information collection 

requirements imposed by Form N–2 are 

mandatory. Responses to the collection 

of information 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 

currently valid control number. 

Written comments are invited on: (a) 

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; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information collected; and (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology. Consideration will be given 

to comments and suggestions submitted 

in writing within 60 days of this 

publication. 

Please direct your written comments 

to Lewis W. Walker, Acting Director/ 

CIO, Securities and Exchange 

Commission, C/O Shirley Martinson, 

6432 General Green Way, Alexandria, 

VA 22312; or send an e-mail to: 

PRA_Mailbox@sec.gov. 

Dated: September 10, 2008. 

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–21764 Filed 9–17–08; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

28379; 812–13483] 

Rafferty Asset Management, LLC, et 

al.; Notice of Application 

September 12, 2008. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice of an application for an 

order under section 6(c) of the 

Investment Company Act of 1940 (the 

‘‘Act’’) for an exemption from sections 

2(a)(32), 5(a)(1), 22(d), 22(e), and 24(d) 

of the Act and rule 22c–1 under the Act, 

and under sections 6(c) and 17(b) of the 

Act for an exemption from sections 

17(a)(1) and 17(a)(2) of the Act. 

Summary of Application: Applicants 

request an order that would permit (a) 

an open-end management investment 

company and its series to issue shares 

(‘‘ETS’’) that can be redeemed only in 

large aggregations (‘‘Creation Units’’); (b) 

secondary market transactions in ETS to 

occur at negotiated prices; (c) dealers to 

sell ETS to purchasers in the secondary 

market unaccompanied by a prospectus 

when prospectus delivery is not 

required by the Securities Act of 1933 

(‘‘Securities Act’’); (d) certain series to 

pay redemption proceeds, under certain 

circumstances, more than seven days 

after the tender of ETS for redemption 

and; (e) certain affiliated persons of the 

series to deposit securities into, and 

receive securities from, the series in 

connection with the purchase and 

redemption of Creation Units. 

Applicants: Rafferty Asset 

Management, LLC (‘‘Adviser’’) and 

Direxion Shares ETF Trust (‘‘Trust’’). 

Filing Dates: The application was 

filed on January 23, 2008 and amended 

on May 8, 2008, August 21, 2008 and 

September 12, 2008. 

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 

Commission’s Secretary and serving 

applicants with a copy of the request, 

personally or by mail. Hearing requests 

should be received by the Commission 

by 5:30 p.m. on October 3, 2008, and 

should be accompanied by proof of 

service on applicants, in the form of an 

affidavit, or for lawyers, a certificate of 

service. Hearing requests should state 

the nature of the writer’s interest, the 

reason for the request, and the issues 

contested. Persons who wish to be 

notified of a hearing may request 

notification by writing to the 

Commission’s Secretary. 


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