Document ID: SEC-2011-1711-0001
Agency: sec
Document Type: Notice
Title: Submission for OMB Review; Comment Request
Posted Date: 2011-11-08T05:00Z

[Federal Register Volume 76, Number 216 (Tuesday, November 8, 2011)]
[Notices]
[Pages 69302-69303]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-28905]

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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 Investor Education and Advocacy, Washington, DC 
20549-0213.

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 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)(A) and (B)), 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 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.

[[Page 69303]]

    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 $3,200.00.
    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, http://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: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, VA 22312 or send an 
email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB 
within 30 days of this notice.

    Dated: November 3, 2011.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2011-28905 Filed 11-7-11; 8:45 am]
BILLING CODE 8011-01-P