
[Federal Register Volume 88, Number 172 (Thursday, September 7, 2023)]
[Notices]
[Pages 61656-61657]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19247]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-572, OMB Control No. 3235-0636]


Proposed Collection; Comment Request; Extension: Rule 0-2

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736.

    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 
collections 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.
    Several sections of the Investment Company Act of 1940 (``Act'' or 
``Investment Company Act'') \1\ give the Securities and Exchange 
Commission (``Commission'') the authority to issue orders granting 
exemptions from the Act's provisions. The section that grants broadest 
authority is section 6(c), which provides the Commission with authority 
to conditionally or unconditionally exempt persons, securities or 
transactions from any provision of the Investment Company Act, or the 
rules or regulations thereunder, if and to the extent that such 
exemption is necessary or appropriate in the public interest and 
consistent with the protection of investors and the purposes fairly 
intended by the policy and provisions of the Act.\2\ Congress enacted 
section 6(c) to give the Commission the flexibility to address 
unforeseen or changed circumstances in the investment company industry. 
Rule 0-2 under the Investment Company Act,\3\ entitled ``General 
Requirements of Papers and Applications,'' prescribes general 
instructions for filing an application seeking exemptive relief with 
the Commission.
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    \1\ 15 U.S.C. 80a-1 et seq.
    \2\ 15 U.S.C. 80a-6(c).
    \3\ 17 CFR 270.0-2.
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    Rule 0-2(c)(1) requires that every application for an order for 
which a form is not specifically prescribed and which is executed by a 
corporation, partnership or other company and filed with the Commission 
contain a statement of the applicable provisions of the articles of 
incorporation, bylaws or similar documents, relating to the right of 
the person signing and filing such application to take such action on 
behalf of the applicant, and a statement that all such requirements 
have been complied with and that the person signing and filing the 
application is fully authorized to do so. If such authorization is 
dependent on resolutions of stockholders, directors, or other bodies, 
such resolutions must be attached as an exhibit to or quoted in the 
application. Any amendment to the application must contain a similar 
statement as to the applicability of the original statement of 
authorization. When any application or amendment is signed by an agent 
or attorney, rule 0-2(c)(1) requires that the power of attorney 
evidencing his authority to sign shall state the basis for the agent's 
authority and shall be filed with the Commission. Every application 
subject to rule 0-2 must be verified by the person executing the 
application by executing an instrument in substantially the form 
specified in the rule. Each application subject to rule 0-2 must state 
the reasons why the applicant is deemed to be entitled to the action 
requested, the name and address of each applicant, and the name and 
address of any person to whom any questions

[[Page 61657]]

regarding the application should be directed. Electronic filing of all 
applications for orders under the Investment Company Act is mandatory. 
Each application subject to rule 0-2 is a one-time request and the rule 
itself does not impose any ongoing obligations or burdens on the part 
of an applicant.
    Based on historical filing data and estimates of the annual number 
of filings, the staff estimates that the Commission will receive 
roughly 112 applications for an exemptive order per year, and that each 
such applications will take an average of 20.25 hours of in-house 
attorney time as well as total external costs of $92,000.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission'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 by November 6, 2023.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: David Bottom, Acting 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o John Pezzullo, 100 F Street NE, Washington, DC 20549 or send an 
email to: [email protected].

    Dated: August 31, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-19247 Filed 9-6-23; 8:45 am]
BILLING CODE 8011-01-P


