Document ID: SEC-2014-1535-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2014-09-12T04:00Z

[Federal Register Volume 79, Number 177 (Friday, September 12, 2014)]
[Notices]
[Pages 54754-54755]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-21735]

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SECURITIES AND EXCHANGE COMMISSION

Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services 100 F Street NE., Washington, DC 
20549-2736

Extension:
    Form N-54C, SEC File No. 270-184, OMB Control No. 3235-0236

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.) (the ``PRA''), the Securities and 
Exchange Commission (the ``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collection of information discussed below.
    Under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) 
(the ``Investment Company Act''), certain investment companies can 
elect to be regulated as business development companies, as defined in 
Section 2(a)(48) of the Investment Company Act (15 U.S.C. 80a-
2(a)(48)). Under Section 54(a) of the Investment Company Act (15 U.S.C. 
80a-53(a)), any company defined in Section 2(a)(48)(A) and (B) of the 
Investment Company Act (15 U.S.C. 80a-2(a)(48)), may if it meets 
certain enumerated eligibility requirements elect to be subject to the 
provisions of Sections 55 through 65 of the Investment Company Act (15 
U.S.C. 80a-54 to 80a-64) by filing with the Commission a notification 
of election on Form N-54A (17 CFR 274.53). Under

[[Page 54755]]

Section 54(c) of the Investment Company Act (15 U.S.C. 80a-53(c)), any 
business development company may voluntarily withdraw its election 
under Section 54(a) of the Investment Company Act (15 U.S.C. 80a-53(a)) 
by filing a notice of withdrawal of election with the Commission. The 
Commission has adopted Form N-54C (17 CFR 274.54) as the form for 
notification of withdrawal of election to be subject to Sections 55 
through 65 of the Investment Company Act.
    The purpose of Form N-54C is to notify the Commission that the 
business development company withdraws its election to be subject to 
Sections 55 through 65 of the Investment Company Act, enabling the 
Commission to administer those provisions of the Investment Company Act 
to such companies.
    The Commission estimates that on average approximately 10 business 
development companies file these notifications each year. Each of those 
business development companies need only make a single filing of Form 
N-54C. The Commission further estimates that this information 
collection imposes a burden of one hour, resulting in a total annual 
PRA burden of 10 hours. Based on the estimated wage rate, the total 
cost to the business development industry of the hour burden for 
complying with Form N-54C would be approximately $3,200.
    The collection of information under Form N-54C is mandatory. The 
information provided by the form is not 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.
    The public may view the background documentation for this 
information collection at the following Web site, www.reginfo.gov. 
Comments should be directed to: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503, or by sending an email to: 
ShaguftaAhmed@omb.eop.gov; and (ii) Thomas Bayer, Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or send an email 
to: PRAMailbox@sec.gov. Comments must be submitted to OMB 
within 30 days of this notice.

    Dated: September 8, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-21735 Filed 9-11-14; 8:45 am]
BILLING CODE 8011-01-P