

[Federal Register: July 6, 2006 (Volume 71, Number 129)]
[Notices]               
[Page 38432]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06jy06-117]                         

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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: Rule 20a-1, SEC File No. 270-132, OMB Control No. 3235-
0158.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501-3520) the Securities and Exchange Commission 
(the ``Commission'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit the 
existing collection of information to the Office of Management and 
Budget (``OMB'') for extension and approval. The title of the 
collection of information is ``Rule 20a-1 under the Investment Company 
Act of 1940, Solicitation of Proxies, Consents and Authorizations.''
    Rule 20a-1 (17 CFR 270.20a-1) under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) requires that the solicitation of a 
proxy, consent, or authorization with respect to a security issued by a 
registered investment company (``fund'') be in compliance with 
Regulation 14A (17 CFR 240.14a-1 et seq.), Schedule 14A (17 CFR 
240.14a-101), and all other rules and regulations adopted under section 
14(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78n(a)). It 
also requires a fund's investment adviser, or a prospective adviser, to 
transmit to the person making a proxy solicitation the information 
necessary to enable that person to comply with the rules and 
regulations applicable to the solicitation.
    Regulation 14A and Schedule 14A establish the disclosure 
requirements applicable to the solicitation of proxies, consents and 
authorizations. In particular, Item 22 of Schedule 14A contains 
extensive disclosure requirements for fund proxy statements. Among 
other things, it requires the disclosure of information about fund fee 
or expense increases, the election of directors, the approval of an 
investment advisory contract and the approval of a distribution plan.
    The Commission requires the dissemination of this information to 
assist investors in understanding their fund investments and the 
choices they may be asked to make regarding fund operations. The 
Commission does not use the information in proxies directly, but 
reviews proxy statement filings for compliance with applicable rules.
    It is estimated that funds file approximately 1,565 proxy 
solicitations annually with the Commission. That figure includes 
multiple filings by some funds. The total annual reporting and 
recordkeeping burden of the collection of information is estimated to 
be approximately 166,203 hours (1,565 responses x 106.2 hours per 
response).
    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, Securities and Exchange Commission, c/o 
Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312, or via 
e-mail to: PRA_Mailbox@sec.gov.

    Dated: June 20, 2006.
Nancy M. Morris,
Secretary.
 [FR Doc. E6-10491 Filed 7-5-06; 8:45 am]

BILLING CODE 8010-01-P
