11612 Federal Register / Vol. 66, No. 38 / Monday, February 26, 2001 / Notices

1See section 6(a)(requiring prior Commission

approval under the standards of section 7 for the

issue and sale of securities) and section

9(a)(1)(requiring prior Commission approval under

the standards of section 10 for the acquisition of

securities).

and/or declaration on Form U–1 for

prior Commission approval both for the

issue and sale of a security and its

acquisition by a company in a registered

holding company system.1 Section 6(b)

provides that the Commission shall

exempt from the requirement of filing a

declaration on Form U–1, by rules and

regulations or orders and subject to such

terms and conditions, as it deems

appropriate in the public interest or for

the protection of investors or

consumers, certain security issuances

and sales.

Section 6(b) also contains a reporting

requirement. It directs the issuer of

securities exempted under section 6(b)

to file with the Commission within ten

days of the issue or sale of a certificate

notification and directs the Commission

to prescribe the form of and information

required in this certificate. Rule 20(d)

prescribes Form U–6B–2 as the form of

certificate of notification to be filed

pursuant to section 6(b). Form U–6B–2

is also prescribed by Rule 52(c)(17 CFR

250.52(c)) and rule 47(b)(17 CFR

250.47(b)) as the form of certificate of

notification to be filed by a public

utility subsidiary company of a

registered holding company to notify

the Commission of exempt issuances

and sales of securities under Rule 52

Exemption of Issue and Sale of Certain

Securities approved by state

commissions and Rule 47 Exemption of

Public Utility Subsidiaries as to Certain

Securities Issued to the Rural

Electrification Administration. The

Commission receives about 89 Form U–

6B–2s per year from 89 respondents

who each file once, which imposes an

annual burden of about 89 hours.

The estimates of the average burden

hours are made solely for the purposes

of the Paperwork Reduction Act and are

not derived from a comprehensive or

even representative survey or study of

the costs of Commission rules and

forms.

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 Michael E. Bartell, Associate

Executive Director, Office of

Information Technology, Securities and

Exchange Commission, 450 5th Street,

NW., Washington, DC 20549.

Dated: February 14, 2001.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–4649 Filed 2–23–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Proposed Form N–6; SEC File No. 270–

446; OMB Control No. 3235–0503]

Proposed Collection; Comment

Request; Extension

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’’) is soliciting comments

on the collection of information

summarized below. The Commission

plans to submit to the Office of

Management and Budget a request for

an extension of this previously

approved collection of information.

The title for the collection of

information is ‘‘Form N–6 Under the

Investment Company Act of 1940 and

the Securities Act of 1933, Registration

Statement of Variable Life Insurance

Separate Accounts Registered as Unit

Investment Trusts.’’

On March 13, 1998, the Securities and

Exchange Commission proposed a new

Form N–6 for insurance company

separate accounts that are registered as

unit investment trusts that offer variable

life insurance policies. The form would

be used by these separate accounts to

register under the Investment Company

Act of 1940 and to offer their securities

under the Securities Act of 1933. For

these registrants, the proposed form

would replace Form N–8B–2, currently

used by all unit investment trusts to

register under the Investment Company

Act, and Form S–6, currently used by all

unit investment trusts to offer their

securities under the Securities Act.

Forms S–6 and N–8B–2 were not

designed for variable life insurance

registrants and do not reflect

fundamental improvements that the

Commission has made to other

investment company registration forms,

including Forms N–1A and N–4, which

facilitate clearer and more concise

disclosure. If adopted, proposed Form

N–6 would:

• Eliminate requirements in the

current registration forms that are not

relevant to variable life insurance and

include items that are specifically

addressed to variable life insurance;

• Streamline variable life prospectus

disclosure by adopting a two-part format

consisting of a simplified prospectus,

designed to contain essential

information, and a Statement of

Additional Information, containing

more extensive information that

investors could obtain upon request;

and

• Provide variable life separate

accounts a single, integrated form for

Investment Company Act and Securities

Act registration, thereby eliminating

unnecessary paperwork and duplicative

reporting.

The Commission estimates that there

are approximately 200 separate accounts

registered as unit investment trusts and

offering variable life insurance policies

that would file registration statements

on proposed Form N–6. The

Commission estimates that there will be

as many as 50 initial registration

statements on proposed Form N–6 filed

annually. The Commission estimates,

therefore, that approximately 250

registration statements (200 posteffective amendments plus 50 initial

registration statements) will be filed on

Form N–6 annually.

The Commission estimates that the

hour burden for preparing and filing a

post-effective amendment on proposed

Form N–6 will be 100 hours. Thus, the

total annual hour burden for preparing

and filing post-effective amendments

would be 20,000 hours (200 posteffective amendments annually times

100 hours per amendment). The

Commission estimates that the hour

burden for preparing and filing an

initial registration statement on

proposed Form N–6 will be 800 hours.

Thus, the annual hour burden for

preparing and filing initial registration

statements would be 40,000 hours (50

initial registration statements annually

times 800 hours per registration

statement). The total annual hour

burden for proposed Form N–6,

therefore, is estimated to be 60,000

hours (20,000 hours for post-effective

amendments plus 40,000 hours for

initial registration statements).

Federal Register / Vol. 66, No. 38 / Monday, February 26, 2001 / Notices 11613

The Commission estimates that the

cost burden for preparing and filing a

post-effective amendment on proposed

Form N–6 will be $7,500. Thus, the total

annual cost burden for preparing and

filing post-effective amendments would

be $1,500,000 (200 post-effective

amendments annually times $7,500 per

amendment). The Commission estimates

that the cost burden for preparing and

filing an initial registration statement on

proposed Form N–6 will be $20,000.

Thus, the annual cost burden for

preparing and filing initial registration

statements would be $1,000,000 (50

initial registration statements annually

times $20,000 per registration

statement). The total annual cost burden

for proposed Form N–6, therefore, is

estimated to be $2,500,000 ($1,500,000

for post-effective amendments plus

$1,000,000 for initial registration

statements).

The hour and cost burdens would be

offset by a decrease in the burdens

attributable to Forms N–8B–2 and S–6

because separate accounts registering on

Form N–6 would no longer be required

to register on Forms N–8B–2 and S–6.

The Commission expects that the

aggregate burden imposed by Forms N–

6, S–6, and N–8B–2 after Form N–6 is

adopted will be no greater, and may be

less, than the burden currently imposed

by Forms S–6 and N–8B–2.

Form N–6 has not yet been adopted,

and therefore no variable life separate

accounts are currently using Form N–6

to register pursuant to the Securities Act

and the Investment Company Act.

The information collection

requirements that would be imposed by

Form N–6 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 Michael E. Bartell, Associate

Executive Director, Office of

Information Technology, Securities and

Exchange Commission, 450 5th Street,

NW., Washington, DC 20549.

Dated: February 16, 2001.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–4650 Filed 2–23–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–27347]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

February 16, 2001.

Notice is hereby given that the

following filing(s) has/have been made

with the Commission pursuant to

provisions of the Act and rules

promulgated under the Act. All

interested persons are referred to the

application(s) and/or declaration(s) for

complete statements of the proposed

transaction(s) summarized below. The

application(s) and/or declaration(s) and

any amendment(s) is/are available for

public inspection through the

Commission’s Branch of Public

Reference.

Interested persons wishing to

comment or request a hearing on the

application(s) and/or declaration(s)

should submit their views in writing by

March 13, 2001, to the Secretary,

Securities and Exchange Commission,

Washington, DC 20549–0609, and serve

a copy on the relevant applicant(s) and/

or declarant(s) at the address(es)

specified below. Proof of service (by

affidavit or, in the case of an attorney at

law, by certificate) should be filed with

the request. Any request for hearing

should identify specifically the issues of

facts or law that are disputed. A person

who so requests will be notified of any

hearing, if ordered, and will receive a

copy of any notice or order issued in the

matter. After March 13, 2001, the

application(s) and/or declaration(s), as

filed or as amended, may be granted

and/or permitted to become effective.

Dominion Resources, Inc., et al. (70–

9807)

Dominion Resources, Inc. (‘‘DRI’’), a

registered public utility holding

company under the Act, and is wholly

owned electric utility company

subsidiary, Virginia Electric and Power

Company (‘‘Vepco’’), both located at 120

Tredegar Street, Richmond, VA 23219,

have filed an application under sections

9(a)(1) and 10 of the Act.

DRI and Vepco request approval of

Vepco’s proposed acquisition of three

generating facilities (‘‘Generating

Facilities’’) located in Hopewell,

Altavista, and Southampton County,

Virginia, within Vepco’s service area.

Vepco would effect the acquisition by

purchasing all of the partnership

interests in each of the three limited

partnerships that currently own the

facilities.

Each of the three Generating Facilities

is currently both a ‘‘qualifying facility’’

(‘‘QF’’) under the Public Utility

Regulatory Policies Act of 1978, as

amended (‘‘PURPA’’), and an ‘‘exempt

wholesale generator’’ (‘‘EWG’’) under

section 32 of the Act. Each comprises a

stoker coal-fired cogeneration facility

with a maximum net power production

capacity of 62.7 MW and related

interconnection facilities that is

interconnected with Vepco, to whom it

sells all of its energy and capacity

through long term power purchase and

operating agreements, at the high

voltage (115 kV) side of its main stepup transformer. Upon consummation of

the proposed acquisition, the Generating

Facilities will no longer meet the

criteria for QFs and PURPA and for

EWGs under the Act. The Generating

Facilities would then be operated in the

same manner as the rest of Vepco’s

facilities, and their production would be

controlled by the same mechanism that

drive the dispatch of Vepco’s other

facilities. The same system operator

responsible for coordination and control

of Vepco’s other generating units will

also be responsible for the Generating

Facilities, and their dispatch order will

be based on their relative operating

expenses compared with the rest of

Vepco’s generating units, and their

capacity and energy will be available for

Vepco’s native load.

Three California general partnerships

(‘‘Partnerships’’), LG&E—Westmoreland

Southampton (‘‘Southampton’’), LG&E—

Westmoreland Altavista (‘‘Altavista’’)

and LG&E—Westmoreland Hopewell

(‘‘Hopewell’’) currently own and operate

the Generating Facilities. The

Partnerships are owned by six limited

partnerships and three corporations

(‘‘Seller’’): Westpower-Franklin, L.P., a

Virginia limited partnership, LG&E

Southampton, L.P., a California limited

partnership, LG&E Power 11

Incorporated, a California corporation,

Westpower—Altavista, L.P., a Virginia

limited partnership, LG&E Altavista,

L.P., a California limited partnership,

LG&E Power 12 Incorporated, a

California corporation, WestpowerHopewell, L.P., a Virginia limited