Rule 147 is a safe harbor under the
Securities Act Section 3(a)(11) exemption from registration. To
qualify for the safe harbor, Rule 147(f)(1)(iii) (17 CFR 230.147)
will require the issuer to obtain from the purchaser a written
representation as to the purchaser's residency.
This collection of information
is contained in the final rule amendments to Rule 147. The
Commission has not previously sought OMB approval of a collection
of information for Rule 147. For purposes of the PRA, we estimate
that the total annual paperwork burden for all affected issuers
arising from the collection of information requirement in Rule 147
will be approximately 175 hours of issuer (company) personnel time
and approximately $70,000 for the services of outside
professionals. In addition, we estimate that the total annual
paperwork burden for all affected purchasers arising from the
collection of information requirement in Rule 147 will be
approximately 1,750 hours of purchaser time and no cost incurred
for the services of outside professionals.
$150,000
No
No
No
No
No
Uncollected
Jennifer Riegel 202
551-3575
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.