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Federal Register / Vol. 86, No. 121 / Monday, June 28, 2021 / Notices
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exemption from the notice provisions of rule 23c3b4 to the extent necessary to permit each Fund to send notification of an upcoming repurchase offer to shareholders at least seven days but no more than fourteen calendar days in advance of the repurchase request deadline.
5. Applicants contend that monthly repurchase offers are in the public interest and in the common shareholders interests and consistent with the policies underlying rule 23c 3. Applicants assert that monthly repurchase offers will provide investors with more liquidity than quarterly repurchase offers. Applicants assert that shareholders will be better able to manage their investments and plan transactions, because if they decide to forego a repurchase offer, they will only need to wait one month for the next offer. Applicants also contend that the portfolio of each Fund will be managed to provide ample liquidity for monthly repurchase offers.
6. Applicants propose to send notification to shareholders at least seven days, but no more than fourteen calendar days, in advance of a repurchase request deadline. Applicants assert that, because each Fund intends to make payment on the fifth business day or seventh calendar day whichever period is shorter following the repurchase pricing date, the entire procedure will be completed before the next notification is sent out to shareholders, thus avoiding any overlap.
Applicants believe that these procedures will eliminate any possibility of investor confusion.
Applicants also state that monthly repurchase offers will be a fundamental feature of the Funds, and their prospectuses will provide a clear explanation of the repurchase program.
7. Applicants submit that for the reasons given above the requested relief is appropriate in the public interest and is consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act.
Applicants Conditions Applicants agree that any order granting the requested relief shall be subject to the following conditions:
1. The Fund and any Future Fund relying on this relief will make a repurchase offer pursuant to rule 23c 3b for a repurchase offer amount of not less than 5% in any one-month period.
In addition, the repurchase offer amount for the then-current monthly period, plus the repurchase offer amounts for the two monthly periods immediately preceding the then-current monthly
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period, will not exceed 25% of the Funds or Future Funds, as applicable outstanding common shares. The Fund and any Future Fund relying on this relief may repurchase additional tendered common shares pursuant to rule 23c3b5 only to the extent the percentage of additional common shares so repurchased does not exceed 2% in any three-month period.
2. Payment for repurchased common shares will occur at least five business days before notification of the next repurchase offer is sent to common shareholders of the Fund or any Future Fund relying on this relief.

whether the collection has practical utility; 2 the accuracy of the Boards burden estimates; 3 ways to enhance the quality, utility, and clarity of the information collected; and 4 ways to minimize the burden of the collection of information on the respondents, including the use of automated collection techniques or other forms of information technology, when appropriate. Submitted comments will be included and summarized in the Boards request for OMB approval.
Subjects: In this notice, the Board is requesting comments on the following information collections:

For the Commission, by the Division of Investment Management, under delegated authority.
J. Matthew DesLesDernier, Assistant Secretary.

Description of Collection 1

FR Doc. 202113663 Filed 62521; 8:45 am BILLING CODE 801101P

SURFACE TRANSPORTATION BOARD
60-Day Notice of Intent To Seek Extension of Approval of Collections:
Rail Carrier Financial Reports Surface Transportation Board.
Notice and request for comments.

AGENCY:
ACTION:

As part of its continuing effort to reduce paperwork burdens, and as required by the Paperwork Reduction Act of 1995 PRA, the Surface Transportation Board Board gives notice of its intent to request from the Office of Management and Budget OMB approval without change of the six existing collections described below.
DATES: Comments on these information collections should be submitted by August 27, 2021.
ADDRESSES: Direct all comments to Chris Oehrle, PRA Officer, Surface Transportation Board, 395 E Street SW, Washington, DC 204230001, or to PRA@stb.gov. When submitting comments, please refer to Paperwork Reduction Act Comments, Rail Carrier Financial Reports. For further information regarding these collections, contact Pedro Ramirez at 202 245
0333 or pedro.ramirez@stb.gov.
Assistance for the hearing impaired is available through the Federal Information Relay Service FIRS at 18008778339.
SUPPLEMENTARY INFORMATION: Comments are requested concerning each collection as to 1 whether the particular collection of information is necessary for the proper performance of the functions of the Board, including SUMMARY:

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Title: Quarterly Report of Revenues, Expenses, and IncomeRailroads Form RE&I.
OMB Control Number: 21400013.
Form Number: Form RE&I.
Type of Review: Extension without change.
Respondents: Class I railroads.
Number of Respondents: Seven.
Estimated Time per Response: Six hours.
Frequency of Response: Quarterly.
Total Annual Hour Burden: 168 hours annually.
Total Annual Non-Hour Burden Cost: None identified. Filings are submitted electronically to the Board.
Needs and Uses: This collection is a report of railroad operating revenues, operating expenses, and income items.
It is also a profit and loss statement, disclosing net railway operating income on a quarterly and year-to-date basis for current and prior years. See 49 CFR
1243.1. The Board uses the information in this report to ensure competitive, efficient, and safe transportation through general oversight programs that monitor and forecast the financial and operating condition of railroads, and through regulation of railroad rate and service issues and rail restructuring proposals, including railroad mergers, consolidations, acquisitions of control, and abandonments. Information from these reports is used by the Board, other Federal agencies, and industry groups to monitor and assess industry growth and operations, detect changes in carrier financial stability, and identify trends that may affect the national transportation system. Some of the information from these reports is compiled by the Board in our quarterly Selected Earnings Data Report, which is published on the Boards website, https www.stb.gov/stb/industry/econ_
reports.html. The information contained in these reports is not available from any other source.

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