Update of Registration Form to Reflect Fee Rate Change for Registration of Certain Investment
SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 274
(Release Nos. 33-7608; IC-23522; File No. S7-19-97)
Update of Registration Form to Reflect Fee Rate Change for Registration of Certain Investment Company Securities
AGENCY: Securities and Exchange Commission
ACTION: Amendments to Form
SUMMARY: The Securities and Exchange Commission ("Commission") is updating the fee rate information in the instructions to the form under the Investment Company Act of 1940 that prescribes the method by which certain investment companies calculate and pay registration fees on securities they issue (the form was last published in its entirety at 62 FR 47941 (Sept. 12, 1997), and was last amended at 62 FR 64687 (Dec. 9, 1997)). On October 21, 1998, legislation was enacted that sets a new fee rate of $278 per $1,000,000 offered or sold (prorated for amounts less than $1,000,000). Registration fees under this new rate are calculated by multiplying the aggregate offering or sales amount by .000278. This amendment updates the reference to the current fee rate in the instructions to the form.
EFFECTIVE DATE: (Insert date of publication in the Federal Register).
FOR FURTHER INFORMATION CONTACT: Robin Gross Lehv, Staff Attorney, Office of Regulatory Policy at (202) 942-0690, or Carolyn A. Miller, Senior Financial Analyst, Office of Financial Analysis at (202) 942-0513, Division of Investment Management, Securities and Exchange Commission, 450 5th Street, N.W., Mail Stop 5-6, Washington, D.C. 20549.
SUPPLEMENTARY INFORMATION: The Commission today is amending Instruction C.9 to Form 24F-2 (17 CFR 274.24) under the Investment Company Act of 1940 (15 U.S.C. 80a) (the "Investment Company Act").
Form 24F-2 is the Form on which certain investment companies file an annual notice of securities sold pursuant to rule 24f-2 under the Investment Company Act (17 CFR 270.24f-2). The Instruction to Item 5(vii) explains that the multiplier for calculation of the registration fee is determined by the Commission in accordance with section 6(b) of the Securities Act of 1933 (15 U.S.C. 77f(b)). The Instruction informs filers of the multiplier that was in effect as of the date of the most recent printing of the Form, but indicates that this rate is subject to change from time to time, without notice, by act of Congress through appropriations for the Commission or other laws.
On October 21, 1998, legislation was enacted that sets the fee rate at $278 per $1,000,000 offered or sold (prorated for amounts less than $1,000,000). Fees will be calculated by multiplying the aggregate offering or sales amount by .000278.
The Commission is amending the Instruction to Item 5(vii) of Form 24F-2 to reflect the change in the fee rate.
The Commission is amending Form 24F-2 pursuant to the authority set forth in sections 24 and 38(a) of the Investment Company Act (15 U.S.C. 80a-24, -37(a)).
Text of Form Amendments
For the reasons set out in the preamble, Form 24F-2, referenced in § 274.24, Title 17, Chapter II of the Code of Federal Regulations, is amended as follows:
Part 274 Forms Prescribed Under the Investment Company Act of 1940
1. The authority citation for Part 274 continues to read as follows:
Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 78c(b), 78l, 78m, 78n, 78o(d), 80a-8, 80a-24, and 80a-29, unless otherwise noted.
2. Form 24F-2 (referenced in § 274.24) is amended by revising the second and third sentences of Instruction C.9 to Item 5(vii) to read as follows:
Note: Form 24F-2 does not, and the amendments will not, appear in the Code of Federal Regulations.
Annual Notice of Securities Sold Pursuant to Rule 24f-2
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C. Computation of Registration Fee
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9. Item 5(vii) - * * * As of October 22, 1998, the fee rate was $278 per $1,000,000 offered or sold (prorated for amounts less than $1,000,000). The registration fee is calculated by multiplying the aggregate offering or sales amount by .000278. * * *
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For the Commission, by the Office of the Secretary, pursuant to delegated authority.
Jonathan G. Katz