Request for Public Comment

NUCLEAR REGULATORY COMMISSION

SECURITIES AND EXCHANGE COMMISSION

Request for Public Comment

Upon Written Request, Copies Available From: Securities and Exchange

Commission, Office of Filings and Information Services, Washington, DC

20549

Extension:

Form N-17D-1, SEC File No. 270-231, OMB Control No. 3235-0229

Notice is hereby given that, pursuant to the Paperwork Reduction

Act of 1995 (44 U.S.C. et seq.), the Securities and Exchange Commission

(Commission) is publishing for public comment the following summary of

previously approved information collection requirements. The Commission

plans to submit these existing collections of information to the Office

of Management and Budget (OMB) for extension and approval.

Section 17(d) [15 U.S.C. 80a-17(d)] of the Investment Company Act

of 1940 (the Act) authorizes the Commission to adopt rules that protect

investment companies and their security holders from overreaching by

affiliated persons where the investment company and the affiliated

person participate jointly or jointly and severally in a transaction.

Rule 17d-1 under the Act [17 CFR 270.17d-1] prohibits any such

participation, unless an application regarding the transaction has been

filed with and approved by the Commission. The rule provides an

exemption from this requirement for any loan or advance of credit to,

or acquisition of securities or other property of, a small business

concern, or any agreement to do any of the foregoing (investments) made

by a affiliated bank and a small business investment company (SBIC),

provided that reports about the investments are made on such forms as

the Commission may prescribe. For this purpose, Rule 17d-2 [17 CFR

270.17d-2] prescribes Form N-17D-1.

Form N-17D-1 is used by SBICs and their affiliated banks to report

any investments in a small business concern. The form provides

shareholders and persons seeking to make an informed decision about

investing in an SBIC an opportunity to learn about transactions of the

SBIC that have a high potential for overreaching at the expense of

shareholders.

Form N-17D-1 requires SBICs to report identifying information about

the small business concern and the affiliated bank. On the form, SBICs

must state, among other things, the outstanding investments in the

small business concern, the use of the proceeds of the investment made

during the reporting period, any changes in the nature and amount of

the bank's investment, the name of any affiliated person of the SBIC or

the affiliated bank (or any affiliated person of such person) who has

any interest in the transactions, the basis of the affiliation, the

nature of the interest, and the consideration received or to be

received by the affiliate.

The Commission estimates that up to 5 SBICs may use the form

annually. The estimated burden of filling out the form is approximately

5 hours per response and would likely be completed by an accountant or

other professional. At $114 per hour of time, completion of the form

will cost approximately $570 per filer. The total annual burden would

be 25 hours with a total annual cost of $2,850.

The estimate of average burden hours is made solely for the

purposes of the Paperwork Reduction Act, and is not derived from a

comprehensive or even a representative survey or study. 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 requested on: (a) whether the collections of

information are necessary for the proper performance of the functions

of the Commission, including whether the information has practical

utility; (b) the accuracy of the Commission's estimate of the burdens

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 in writing within 60 days of this

publication.

Direct your written comments to Michael E. Bartell, Associate

Executive Director, Office of Information Technology, Securities and

Exchange Commission, 450 5th Street, NW, Washington, DC 20549.

[[Page 37578]]

Dated: July 2, 1999.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 99-17622 Filed 7-9-99; 8:45 am]

BILLING CODE 8010-01-M