Notice2024-21596
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
September 20, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 183 (Friday, September 20, 2024)</title>
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[Federal Register Volume 89, Number 183 (Friday, September 20, 2024)]
[Notices]
[Page 77214]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-21596]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-172, OMB Control No. 3235-0169]
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 (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 $12,524
per 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.
The public may view background documentation for this information
collection at the following website: <a href="http://www.reginfo.gov">www.reginfo.gov</a>. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
by October 21, 2024 to (i) <a href="/cdn-cgi/l/email-protection#bbf6f9e395f4f6f995f4f2e9fa95e8fef8e4dfdec8d0e4d4ddddd2d8dec9fbd4d6d995ded4cb95dcd4cd"><span class="__cf_email__" data-cfemail="460b041e68090b0468090f140768150305192223352d192920202f25233406292b246823293668212930">[email protected]</span></a>
and (ii) Austin Gerig, Director/Chief Data Officer, Securities and
Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington,
DC 20549, or by sending an email to: <a href="/cdn-cgi/l/email-protection#f6a6a4b7a9bb979f9a94998eb6859395d8919980"><span class="__cf_email__" data-cfemail="7a2a283b25371b13161815023a091f19541d150c">[email protected]</span></a>.
Dated: September 17, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-21596 Filed 9-19-24; 8:45 am]
BILLING CODE 8011-01-P
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