Document ID: SEC-2008-1567-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2008-11-20T05:00Z

[Federal Register: November 20, 2008 (Volume 73, Number 225)]
[Notices]               
[Page 70391-70392]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20no08-103]                         

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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-6F, SEC File No. 270-185, OMB Control No. 3235-0238.

    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 for extension and approval.
    The title for the collection of information is ``Form N-6F (17 CFR 
274.15), Notice of Intent to be Subject to Sections 55 through 65 of 
the Investment Company Act of 1940.'' The purpose of Form N-6F is to 
allow business development companies to

[[Page 70392]]

take advantage of the less burdensome regulatory provisions available 
to such companies under the Investment Company Act of 1940 (15 U.S.C. 
80a-1 et seq.) (``1940 Act'').
    Certain companies may have to make a filing with the Commission 
before they are ready to elect to be regulated as a business 
development company.\1\ A company that is excluded from the definition 
of ``investment company'' by Section 3(c)(1) of the 1940 Act because it 
has fewer than one hundred shareholders and is not making a public 
offering of its securities may lose such an exclusion solely because it 
proposes to make a public offering of securities as a business 
development company. Such a company, under certain conditions, would 
not lose its exclusion if it notifies the Commission on Form N-6F of 
its intent to make an election to be regulated as a business 
development company. The company only has to file a Form N-6F once.
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    \1\ A company might not be prepared to elect to be subject to 
Sections 55 through 65 of the 1940 Act because its capital structure 
or management compensation plan is not yet in compliance with the 
requirements of those sections.
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    It is estimated that 6 respondents per year file with the 
Commission a Form N-6F. Form N-6F requires approximately 0.5 burden 
hours per response resulting from creating and filing the information 
required by the Form. The total burden hours for Form N-6F would be 3 
hours per year in the aggregate. The estimated annual burden of 3 hours 
represents an increase from the prior estimate of 1 hour. This increase 
in burden hours is attributable to an increase in the total number of 
respondents from 2 to 6.
    The estimate of average burden hours for Form N-6F is made solely 
for the purposes of the Paperwork Reduction Act and is not derived from 
a comprehensive or even representative survey or study of the costs of 
Commission rules and forms.
    Written comments are invited on: (a) Whether the proposed 
collections of information are 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 collections of information; (c) ways to enhance the 
quality, utility, and clarity of the information collected; and (d) 
ways to minimize the burden of the collections 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 Lewis W. Walker, Acting 
Director/CIO, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-
mail to: PRA_Mailbox@sec.gov.

    Dated: November 13, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-27581 Filed 11-19-08; 8:45 am]

BILLING CODE 8011-01-P