Rule 12b-1 permits registered open-end
management investment companies to distribute their own securities
and pay the expenses of distribution out of company assets,
provided the company adopts a written distribution plan and meets
certain other requirements. The rule requires, among other things,
that the fund adopt a written plan describing all material aspects
ofthe proposed financing of distribution ("rule 12b-1 plan"). The
plan must be approved by the fund's board of directors, including
the independent directors, and by a majority of the fund's
outstanding voting securities.
US Code:
15
USC 80a-12b Name of Law: Investment Company Act of 1940
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.