Notice2021-23157
Proposed Collection; Comment Request
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
October 25, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 86 Issue 203 (Monday, October 25, 2021)</title>
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[Federal Register Volume 86, Number 203 (Monday, October 25, 2021)]
[Notices]
[Pages 58961-58962]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-23157]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Extension:
Form N-5
SEC File No. 270-172, OMB Control No. 3235-0169
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.
Form N-5 (17 CFR 239.24 and 274.5) is the form used by small
business investment companies (``SBICs'') to register their securities
under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (``Securities
Act'') and the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.)
(``Investment Company Act''). Form N-5 is the registration statement
form adopted by the Commission for use by an SBIC that has been
licensed as such under the Small Business Investment Act of 1958 or
which has received the preliminary approval of the Small Business
Administration (``SBA'') and has been notified by the SBA that the
company may submit a license application Form N-5 is an integrated
registration form and may be used as the registration statement under
both the Securities Act and the Investment Company Act. The purpose of
Form N-5 is to meet the filing and disclosure requirements of both the
Securities Act and Investment Company Act, and to provide investors
with information sufficient to evaluate an investment in an SBIC. The
information that is required to be filed with the Commission permits
verification of compliance with securities law requirements and assures
the public availability and dissemination of the information.
The Commission did not receive any filings on Form N 5 in the last
three years (and in the three years before that, received only one Form
N-5 filing). Nevertheless, for purposes of this PRA, we conservatively
estimate that at least one Form N-5 will be filed in the next three
years, which translates to about 0.333 filings on Form N 5 per year.
The currently approved internal burden of Form N 5 is 352 hours per
response. We continue to believe this estimate for Form N- 5's internal
hour burden is appropriate. Therefore, the number of currently approved
aggregate burden hours, when calculated using the current estimate for
number of filings, is about 117 internal hours per year. The currently
approved external cost burden of Form N-5 is $10,100 per filing. The
requested external cost burden for filing one Form N-5 would be $12,524
per year. This estimated burden is based on the estimated wage rate of
$496/hour, for 25.25 hours, for outside legal services to complete the
form and provide the required hyperlinks.
Estimates of average burden hours and costs are made solely for the
purposes of the Paperwork Reduction Act, and are not derived from a
comprehensive or even representative survey or study of the costs of
Commission rules and forms. Compliance with the collection of
information requirements of Form N-5 is mandatory. Responses to the
collection of information will not be kept confidential. An agency 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 collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information has 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 in writing within 60 days of this
publication.
[[Page 58962]]
Please direct your written comments to David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, C/O Cynthia
Roscoe, 100 F Street NE, Washington, DC 20549; or send an email to:
<a href="/cdn-cgi/l/email-protection#dd8d8f9c8290bcb4b1bfb2a59daeb8bef3bab2ab"><span class="__cf_email__" data-cfemail="c9999b889684a8a0a5aba6b189baacaae7aea6bf">[email protected]</span></a>.
Dated: October 19, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-23157 Filed 10-22-21; 8:45 am]
BILLING CODE 8011-01-P
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