Notice2021-28426
Submission for OMB Review; Comment Request; Extension: Form N-5
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
January 3, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 1 (Monday, January 3, 2022)</title>
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[Federal Register Volume 87, Number 1 (Monday, January 3, 2022)]
[Notices]
[Pages 129-130]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-28426]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0169, SEC File No. 270-172]
Submission for OMB Review; Comment Request; Extension: Form N-5
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 et seq.), the Securities and Exchange
Commission (the ``Commission'') has submitted to the Office of
Management and Budget (``OMB'') a request for extension of the
previously approved collection of information discussed below.
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.
The public may view the background documentation for this
information collection at the following website, <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
Comments should be directed to: (i) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503, or by sending an email to:
<a href="/cdn-cgi/l/email-protection#15597c7b7166746c3b583b5477746170557a78773b707a653b727a63"><span class="__cf_email__" data-cfemail="b1fdd8dfd5c2d0c89ffc9ff0d3d0c5d4f1dedcd39fd4dec19fd6dec7">[email protected]</span></a>; and (ii) David Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, c/o John R.
Pezzullo 100 F Street NE, Washington, DC 20549 or send an email to:
<a href="/cdn-cgi/l/email-protection#bbebe9fae4f6dad2d7d9d4c3fbc8ded895dcd4cd"><span class="__cf_email__" data-cfemail="49191b0816042820252b2631093a2c2a672e263f">[email protected]</span></a>. Written comments and recommendations for the
proposed information collection should be sent within 30 days of
publication of this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find
this particular information collection by selecting ``Currently under
30-day Review--Open for Public Comments'' or by using the search
function.
[[Page 130]]
Dated: December 28, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-28426 Filed 12-30-21; 8:45 am]
BILLING CODE 8011-01-P
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