HANCOCK JOHN VARIABLE SERIES TRUST I
24F-2NT, 1996-02-22
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                   U. S. SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                  FORM 24F-2
                       Annual Notice of Securities Sold
                            Pursuant to Rule 24f-2

            Read instructions at end of Form before preparing Form
                             Please print or type
- - --------------------------------------------------------------------------------
1. Name and address of issuer:

          JOHN HANCOCK VARIABLE SERIES TRUST I
- - --------------------------------------------------------------------------------
2. Name of each series or class of funds for which this notice is filed:
   Select Stock, Bond, International, Money Market, Special Opportunities, Real
   Estate Equity, Stock, Managed, Short-Term U.S. Government Porfolios
- - --------------------------------------------------------------------------------
3. Investment Company Act File Num:      811-4490

   Securities Act File Num:     33-2081
- - --------------------------------------------------------------------------------
4. Last day of fiscal year for which this notice is filed:

          DECEMBER 31, 1995
- - --------------------------------------------------------------------------------
5. Check box if this notice is being filed more than 180 days after the close of
   the issuer's fiscal year for purpose of reporting securities sold after the
   close of the fiscal year but before termination of the issuer's 24f-2
   declaration:

                                                   [__]
- - --------------------------------------------------------------------------------
6. Data of termination of issuer's declaration under rule 24f-2 (a)(1), if
   applicable (see Instruction A.6):

- - --------------------------------------------------------------------------------
7. Number and amount of securities of the same class or series which had been
   registered under the Securities Act of 1933 other than pursuant to rule 24f-2
   in a prior fiscal year, but which remained unsold at the beginning of the
   fiscal year:

          NONE
- - --------------------------------------------------------------------------------
8. Number and amount of securities registered during the fiscal year other than
   pursuant to rule 24f-2:

          NONE
- - --------------------------------------------------------------------------------
9. Number and aggregate sale price of securities sold during the fiscal year:

          NONE
- - --------------------------------------------------------------------------------

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10. Number and aggregate sale price of securities sold during the fiscal year
    in reliance upon registration pursuant to rule 24f-2:

- - --------------------------------------------------------------------------------
11. Number and aggregate sale price of securities issued during the fiscal year
    in connection with dividend reinvestment plans, if applicable (see
    instruction 6.7):

- - --------------------------------------------------------------------------------
12. Calculation of registration fee:
         (i) Aggregate sale price of securities sold 
             during the fiscal year in reliance on 
             rule 24f-2 (from Item 10)                         $            -
                                                              ------------------

         (ii) Aggregate price of shares issued in connection 
              with dividend reinvestment plans (from Item 11.
              If applicable):                                                  0
                                                              ------------------

         (iii) Aggregate price of shares redeemed or 
               repurchased during the fiscal year 
               (if applicable):                                $            -
                                                              ------------------

         (iv) Aggregate price of shares redeemed or
              repurchased and previously applied as
              a reduction to filing fees pursuant to
              rule 24c-2 (if applicable):                                      0
                                                              ------------------

         (v) Net Aggregate price of securities sold 
             and issued during the fiscal year in 
             reliance on rule 24f-2[line (i), plus 
             line (ii), less line (iii), plus line 
             (iv)] (If applicable):                            $            -
                                                              ------------------

         (vi) Multiplier prescribed by Section 6(b) 
              of the Securities Act of 1933 or 
              other applicable law or regulation (see
              instruction C.6):
                                                              __________________

        (vii) Fee due [line (i) or line (v) multiplied        
              by line (vi)]:                                            $100.00*
                                                              ------------------

Instruction: Issuers should complete lines (ii), (iii), (iv), and (v) only if
             the form is being filed within 60 days after the close of the
             issuer's fiscal year. See Instruction C.3.

- - --------------------------------------------------------------------------------
13. Check box if fees are being remitted to thee Commission's lockbox depositary
    as decribed in section 3a of the Commission's Rules of Informal and Other
    Procedures (17 CFR 202.3a).
                                                              [X]

    Date of mailing or wire transfer of filing fees to the Commission's lockbox
    depository:

         February 21, 1996

- - --------------------------------------------------------------------------------
                                  SIGNATURES

This report has been signed below by the following person on behalf of the
issuer and in the capacities and on the date indicated.
                                   /S/ RAYMOND F. SKIBA
                                   -------------------------
By (Signature and Title):          Raymond F. Skiba
                                   ---------------------------------------------
                                   Director 
Date    February 21, 1996
- - --------------------------------------------------------------------------------
*Registrant is paying the minimum fee of $100.00 required by Section 6(b) of the
 Securities Act of 1933 in reliance on the position expressed on February 17,
 1995 by the Office of Insurance Products in the Commission's Division of
 Investment Management.




<PAGE>
 
                                      February 21, 1996


John Hancock Variable Series Trust I
John Hancock Place
Boston, Massachusetts  02117


Dear Sirs:

      I refer to the 24f-2 Notice dated February 21, 1996 with respect to the
Registration Statement on Form N-1A relating to shares of John Hancock Variable
Series Trust I (the "Fund").  The Registration Statement registered an
indefinite number of shares of the Fund pursuant to Rule 24f-2 under the
Investment Company Act of 1940, as amended.  The Rule 24f-2 Notice makes
definite the amount of securities of the Fund which were so registered under the
Registration Statement.

      I have examined and relied upon copies of the Registration Statement and
the Rule 24f-2 Notice and have examined and relied upon originals, or copies
certified to my satisfaction, of such corporate records, documents, certificates
and other instruments as in my judgment are necessary or appropriate to enable
me to render the opinion set forth below.

      Based on the foregoing, I am of the opinion that the shares of the Fund,
the registration of which the Rule 24f-2 Notice makes definite in amount, were
duly authorized and legally issued, and are fully-paid and non-assessable.

      I hereby consent to the use of this opinion in connection with the filing
of the Rule 24f-2 Notice on Form 24F-2.

                                      Very truly yours,         
                                                                
                                                                
                                      /s/ Francis C. Cleary Jr. 
                                      ------------------------- 
                                      Francis C. Cleary, Jr.    
                                      Vice President and Counsel 


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