Document ID: SEC-2011-1013-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2011-07-15T04:00Z

[Federal Register Volume 76, Number 136 (Friday, July 15, 2011)]
[Notices]
[Page 41828]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-17817]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon Written Request, Copy Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Form N-54A; SEC File No. 270-182; OMB Control No. 3235-0237.

    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 (``OMB'') for extension and approval.
    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) may 
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, if such company has: (1) A class 
of equity securities registered under Section 12 of the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange Act''); or (2) 
filed a registration statement pursuant to Section 12 of the Exchange 
Act for a class of equity securities. The Commission has adopted Form 
N-54A (17 CFR 274.53) as the form for notification of election to be 
regulated as business development companies.
    The purpose of Form N-54A is to notify the Commission that the 
investment company making the notification elects 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 seven 
business development companies file these notifications each year. Each 
of those business development companies need only make a single filing 
of Form N-54A. The Commission further estimates that this information 
collection imposes a burden of 0.5 hours, resulting in a total annual 
time burden of 3.5 hours. Based on the estimated wage rate, the total 
cost to the business development company industry of the hour burden 
for complying with Form N-54A would be approximately $1,120.
    The collection of information under Form N-54A is mandatory. The 
information provided under 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 OMB 
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 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 
e-mail to: PRA_Mailbox@sec.gov.

    Dated: July 7, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-17817 Filed 7-14-11; 8:45 am]
BILLING CODE 8011-01-P