Use of Prenotification Negative Option Plans ("Negative Option Rule")

ICR 201711-3084-001

OMB: 3084-0104

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2017-11-08
IC Document Collections
IC ID
Document
Title
Status
32301
Modified
186715
Modified
ICR Details
3084-0104 201711-3084-001
Active 201410-3084-003
FTC
Use of Prenotification Negative Option Plans ("Negative Option Rule")
Extension without change of a currently approved collection   No
Regular
Approved without change 12/18/2017
Retrieve Notice of Action (NOA) 11/08/2017
  Inventory as of this Action Requested Previously Approved
12/31/2020 36 Months From Approved 12/31/2017
95 0 40
9,750 0 3,125
0 0 0

The Rule establishes disclosure requirements for sellers who use negative option plans. It requires sellers of these plans to disclose the plan's material terms, including the right of cancellation.

US Code: 15 USC 41-58 Name of Law: Federal Trade Commission Act
  
None

Not associated with rulemaking

  82 FR 38907 08/16/2017
82 FR 51834 11/08/2017
Yes

2
IC Title Form No. Form Name
Disclosure Requirements for Existing Clubs
Disclosure Requirements for New Clubs

  Total Approved 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 95 40 0 0 55 0
Annual Time Burden (Hours) 9,750 3,125 0 0 6,625 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The burden estimate is adjusted upward 6,625 hours (from 3,125 in 2014 to 9,750 in 2017). This reflects the increased number of clubs in the market (from 35 in 2014 to 75 in 2017), primarily due to growth in the industry due to an improved national economy.

$7,500
No
    No
    No
No
No
No
Uncollected
Robert Frisby 202 326-2098 rfrisby@ftc.gov

  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.
11/08/2017


© 2024 OMB.report | Privacy Policy