Notice2024-15823
Proposed Collection; 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
July 18, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 138 (Thursday, July 18, 2024)</title>
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[Federal Register Volume 89, Number 138 (Thursday, July 18, 2024)]
[Notices]
[Pages 58456-58457]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-15823]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-172, OMB Control No. 3235-0169]
Proposed Collection; 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'') 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 (or in the three years before that). 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 $12,524per filing. The requested external cost
burden for filing one Form N-5 would be $14,746 per year. This
estimated burden is based on the estimated wage rate of $584/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 proposed
collection of information is necessary for the proper performance of
the functions of the
[[Page 58457]]
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 September 16, 2024.
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: Austin Gerig, Director/
Chief Data Officer, Securities and Exchange Commission, c/o Oluwaseun
Ajayi, 100 F Street NE, Washington, DC 20549 or send an email to:
<a href="/cdn-cgi/l/email-protection#e1b1b3a0beac80888d838e99a1928482cf868e97"><span class="__cf_email__" data-cfemail="9cccceddc3d1fdf5f0fef3e4dceff9ffb2fbf3ea">[email protected]</span></a>.
Dated: July 15, 2024.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-15823 Filed 7-17-24; 8:45 am]
BILLING CODE 8011-01-P
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