Document ID: SEC-2014-1143-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2014-07-09T04:00Z

[Federal Register Volume 79, Number 131 (Wednesday, July 9, 2014)]
[Notices]
[Pages 39003-39004]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-15968]

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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-54C, OMB Control No. 3235-0236, SEC File No. 270-184.

    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'') 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.
    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 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 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

[[Page 39004]]

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, Chief 
Information Officer, Securities and Exchange Commission, C/O Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549; or send an email 
to: PRA_Mailbox@sec.gov.

    Dated: July 2, 2014.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014-15968 Filed 7-8-14; 8:45 am]
BILLING CODE 8011-01-P