Repurchase Offers by Closed-End Companies, Rule 23c-3 and Form N-23c-3

ICR 202106-3235-007

OMB: 3235-0422

Federal Form Document

ICR Details
3235-0422 202106-3235-007
Received in OIRA 201807-3235-009
SEC IM-270-373
Repurchase Offers by Closed-End Companies, Rule 23c-3 and Form N-23c-3
Extension without change of a currently approved collection   No
Regular 10/12/2021
  Requested Previously Approved
36 Months From Approved 02/28/2022
240 132
6,236 3,161
1,964,647 1,029,101

Rule 23c-3 permits a closed-end investment company to make repurchase offers at net asset value. It requires the investment company to provide notification of offers to share-holders, file copies of the shareholder notifications with the Commission, file Form N-23c-3 with the Commission as a cover sheet for the shareholder notifications, state information about repurchase offers in the annual report to shareholders, adopt and review written procedures concerning liquidity, and file copies of sales literature.

US Code: 15 USC 80a-23(c) Name of Law: Investment Company Act of 1940
  
None

Not associated with rulemaking

  86 FR 38509 07/21/2021
86 FR 55044 10/05/2021
No

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 240 132 0 0 108 0
Annual Time Burden (Hours) 6,236 3,161 0 0 3,075 0
Annual Cost Burden (Dollars) 1,964,647 1,029,101 0 0 935,546 0
No
No
The estimated annual burden hours for funds relying on rule 23c 3 has increased from 3,161 hours to 6,236 hours (an increase of 3,075 hours). This is due to an increase in the number of funds that rely on rule 23c 3 from 32 funds to 60 funds. The estimated annual cost burden for funds relying on rule 23c 3 has increased from $1,029,101 to $1,964,647 (an increase of $935,546). This increase is due to the increase in the number of funds that rely on rule 23c 3 along with the effects of inflation.

$0
No
    No
    No
No
No
No
No
Adam Lovell 202 551-6637

  No

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.
10/12/2021


© 2021 OMB.report | Privacy Policy