Notice2023-19247
Proposed Collection; Comment Request; Extension: Rule 0-2
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
September 7, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 172 (Thursday, September 7, 2023)</title>
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[Federal Register Volume 88, Number 172 (Thursday, September 7, 2023)]
[Notices]
[Pages 61656-61657]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[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: <a href="/cdn-cgi/l/email-protection#5f0f0d1e00123e36333d30271f2c3a3c71383029"><span class="__cf_email__" data-cfemail="49191b0816042820252b2631093a2c2a672e263f">[email protected]</span></a>.
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
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