

[Federal Register: October 23, 2006 (Volume 71, Number 204)]
[Notices]               
[Page 62136-62137]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr23oc06-88]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

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

Extension: Rule 35d-1, SEC File No. 270-491, OMB Control No. 3235-
0548.

    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 (``Commission'') is soliciting comments on the collections 
of information summarized below. The Commission plans to submit these 
existing collections of information to the Office of Management and 
Budget (``OMB'') for extension and approval.
    Rule 35d-1 (17 CFR 270.35d-1) under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) generally requires that investment 
companies with certain names invest at least 80% of their assets 
according to what their names suggest. The rule provides that an 
affected investment company must either adopt this 80% requirement as a 
fundamental policy or adopt a policy to provide notice to shareholders 
at least 60 days prior to any change in its 80% investment policy. This 
preparation and delivery of the notice to existing shareholders is a 
collection of information within the meaning of the Act.
    The Commission estimates that there are 7,200 open-end and closed-
end management investment companies and series that have descriptive 
names that are governed by the rule. The Commission estimates that of 
these 7,200 investment companies, approximately 24 provide prior notice 
to their shareholders of a change in their investment policies per 
year. The Commission estimates that the annual burden associated with 
the notice requirement of the rule is 20 hours per affected investment 
company or series. The total burden hours for Rule 35d-1 is 480 per 
year in the aggregate (24 responses x 20 hours per response). Estimates 
of average burden hours are made solely for the purposes of the Act, 
and are not derived from a comprehensive or even a representative

[[Page 62137]]

survey or study of the costs of Commission rules and forms.
    The collection of information under Rule 35d-1 is mandatory. The 
information provided under Rule 35d-1 is not kept confidential. The 
Commission 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 R. Corey Booth, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312; 
or send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: October 16, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6-17618 Filed 10-20-06; 8:45 am]

BILLING CODE 8011-01-P
