Notice2026-16087
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 0-2 Under the Investment Company Act of 1940, General Requirements of Papers and Applications
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
August 7, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 151 (Friday, August 7, 2026)</title>
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[Federal Register Volume 91, Number 151 (Friday, August 7, 2026)]
[Notices]
[Pages 51202-51203]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-16087]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0636]
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Extension: Rule 0-2 Under the Investment
Company Act of 1940, General Requirements of Papers and Applications
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 (``SEC'' or ``Commission'') is submitting to the Office of
Management and Budget (OMB) this request for extension of the proposed
collection of information.
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
[[Page 51203]]
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
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. Compliance with rule 0-2 is required to obtain or
retain benefits.
We estimate that approximately 139 registrants use rule 0-2 to make
exemptive applications.\4\ Based on conversations with fund
representatives and the Commission's experience with the use of rule 0-
2, we estimate that the reporting burden of compliance with rule 0-2 is
approximately 20 hours per respondent. This time is spent, for example,
preparing the application to submit to the Commission. Accordingly, we
calculate the total estimated annual internal burden of complying with
rule 0-2 to be approximately 2,780 hours. We estimate the annual
external costs to be $10,341,600. These estimates of average costs are
made solely for the purposes of the Paperwork Reduction Act. The
estimate is not derived from a comprehensive or even a representative
survey or study of the costs of Commission rules.
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\4\ This estimate is based on the annual average of the number
of total exemptive applications for the three year period ended
December 2025 (1,251 applications/3 = 417), of which approximately
\2/3\ are amendments (417 x (\2/3\) = 139 new exemptive
applications).
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This collection of information is necessary to obtain a benefit and
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 and comment on this information collection
request at: <a href="https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=">https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=</a>202605-3235-019 or email comment to
<a href="/cdn-cgi/l/email-protection#19545b413756545b3756504b58374a5c5a467d7c6a7246767f7f707a7c6b5976747b377c7669377e766f"><span class="__cf_email__" data-cfemail="115c53493f5e5c533f5e5843503f4254524e7574627a4e7e777778727463517e7c733f747e613f767e67">[email protected]</span></a> within 30 days of the day
after publication of this notice, by September 8, 2026.
Dated: August 4, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-16087 Filed 8-6-26; 8:45 am]
BILLING CODE 8011-01-P
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