

[Federal Register: December 1, 2005 (Volume 70, Number 230)]
[Notices]               
[Page 72132-72133]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01de05-54]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension:
    Form N-PX; SEC File No. 270-524; OMB Control No. 3235-0582.

    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.
    The title of the collection of information is ``Form N-PX under the 
Investment Company Act of 1940, Annual Report of Proxy Voting Record.'' 
Rule 30b1-4 under the Investment Company Act of 1940 (``Investment 
Company Act'') requires every registered management investment company, 
other than a small business investment company (``Fund''), to file Form 
N-PX not later than August 31 of each year. Funds use Form N-PX to file 
annual reports with the Commission containing their complete proxy 
voting

[[Page 72133]]

record for the most recent twelve-month period ended June 30. Funds 
also use Form N-PX to inform the Commission that certain of their 
portfolios do not hold any equity securities and have no proxy record 
to file.
    The Commission requires the dissemination of this information in 
order to meet the filing and disclosure requirements of the Investment 
Company Act and to enable Funds to provide investors with the 
information necessary to evaluate an investment in the Fund. The 
information filed with the Commission also permits the verification of 
compliance with securities law requirements and assures the public 
availability and dissemination of the information. Requiring a Fund to 
file its annual reports of Form N-PX has the advantages of making each 
Fund's proxy voting record available within a relatively short period 
of time after the proxy voting season, and of providing disclosure of 
all Funds' proxy voting records over a uniform period of time.
    There are approximately 3,700 Funds registered with the Commission, 
representing 7,900 Fund portfolios, which are required to file one Form 
N-PX each year. Those 7,900 portfolios are comprised of 5,000 
portfolios holding equity securities and 2,900 portfolios holding no 
equity securities. The staff estimates that filing a response that 
states that the portfolio does not hold equity securities will require 
a 10 minute burden per response. The burden for portfolios holding 
equity securities is estimated to be 14.4 hours per response. The total 
annual reporting and recordkeeping burden is estimated to be 
approximately 72,483 hours ((5,000 responses x 14.4 hours per response 
for equity-holding portfolios) + (2,900 x 10 minutes per response for 
portfolio holding no equity securities)).
    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 R. Corey Booth, Director/
Chief Information Officer, Office of Information Technology, Securities 
and Exchange Commission, 100 F Street, NE., Washington, DC 20549.

    Dated: November 23, 2005.
Jonathan G. Katz,
Secretary.
 [FR Doc. E5-6725 Filed 11-30-05; 8:45 am]

BILLING CODE 8010-01-P
