KEYSTONE INTERNATIONAL FUND INC
485BPOS, 1997-05-30
OIL ROYALTY TRADERS
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<PAGE>


                                                              File Nos. 2-21640/
                                                                        811-1231

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM N-1A

 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 Pre-Effective Amendment No.                                     [   ]

 Post-Effective Amendment No. 66                                 [ X ]

                                 and

 REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 Amendment No. 28                                                [ X ]


                        KEYSTONE INTERNATIONAL FUND INC.
                        --------------------------------
               (Exact name of Registrant as specified in Charter)


              200 Berkeley Street, Boston, Massachusetts 02116-5034
              -----------------------------------------------------
               (Address of Principal Executive Offices) (Zip Code)

               Registrant's Telephone Number, including Area Code:
               ---------------------------------------------------
                                 (617) 210-3200

               Rosemary D. Van Antwerp, Esq., 200 Berkeley Street,
                        Boston, Massachusetts 02116-5034
               ---------------------------------------------------
                     (Name and Address of Agent for Service)


It is proposed that this filing will become effective

[ X ]  immediately upon filing pursuant to paragraph (b)

[   ]  on (date) pursuant to paragraph (b)

[   ]  60 days after filing pursuant to paragraph (a)(1)

[   ]  on (date) pursuant to paragraph (a)(1)

[   ]  75 days after filing pursuant to paragraph (a)(2)

[   ]  on (date) pursuant to paragraph (a)(2) of Rule 485.


     The  Registrant  has filed a  Declaration  pursuant to Rule 24f-2 under the
Investment Company Act of 1940. A Rule 24f-2 Notice for Registrant's last fiscal
year was filed on December 20, 1996.


        CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933

                             Proposed      Proposed
Title of                     Maximum       Maximum
Securities     Amount        Offering      Aggregate       Amount of
Being          Being         Price         Offering        Registration
Registered     Registered    Per Unit*     Price**         Fee
- -------------------------------------------------------------------------------
Shares of
Beneficial
Interest,
$1.00 Par      9,755,890     $8.87        $86,534,744      $-
Value
- -------------------------------------------------------------------------------
*Computed under Rule 457(d) on the basis of the offering price per share at the
close of business on May 12, 1997.

** The calculation of the maximum  aggregate  offering price is made pursuant to
Rule 24e-2 under the Investment  Company Act of 1940.  28,130,870 shares of the
Fund were redeemed  during its fiscal year ended October 31, 1996. Of such
shares, 18,374,980 were used for a reduction pursuant to Rule 24f-2(c).  The
remaining 9,755,890 shares are being registered herewith.

<PAGE>

                        KEYSTONE INTERNATIONAL FUND INC.

                                  CONTENTS OF

                       POST-EFFECTIVE AMENDMENT NO. 66 TO

                             REGISTRATION STATEMENT

     This  Post-Effective   Amendment  No.  66  to  Registration  Statement  No.
2-21640/811-1231   incorporates  by  reference,   without   change,   all  other
information  contained  in  Post-Effective  Amendment  No.  65  to  Registration
Statement No. 2-21640/811-1231.

<PAGE>

                                   SIGNATURES


     Pursuant  to  the  requirements  of the  Securities  Act of  1933  and  the
Investment  Company Act of 1940, the  Registrant  certifies that it meets all of
the  requirements  for  effectiveness  of  this  Amendment  to its  Registration
Statement  pursuant to Rule 485(b) under the Securities Act of 1933 and has duly
caused this Amendment to its  Registration  Statement to be signed on its behalf
by the  undersigned,  thereto  duly  authorized  in the City of Boston,  and The
Commonwealth of Massachusetts, on the 30th day of May, 1997.


                                       KEYSTONE INTERNATIONAL FUND INC.


                                       By:/s/ George S. Bissell
                                          ------------------------------
                                          George S. Bissell
                                          Chief Executive Officer


     Pursuant to the requirements of the Securities Act of 1933, this Amendment
to Registrant's Registration Statement has been signed below by the following
persons in the capacities indicated on the 30th day of May, 1997.

<TABLE>

<S>                                     <C>                                <C>

/s/ George S. Bissell                   /s/ Charles F. Chapin 
- ------------------------                -------------------------          -------------------------
George S. Bissell                       Charles F. Chapin*                 William Walt Pettit
Chairman of the Board of Directors       Director                            Director
  and Chief Executive Officer
                                        
/s/ John J. Pileggi                     /s/ K. Dun Gifford                 /s/ David M. Richardson
- -------------------------               -------------------------          -------------------------
John J. Pileggi                         K. Dun Gifford*                    David M. Richardson*
President and Treasurer (Principal      Director                            Director
  Financial and Accounting Officer)

/s/ Frederick Amling                                                       
- -------------------------               -------------------------          -------------------------
Frederick Amling*                       James S. Howell                    Russell A. Salton, III MD
Director                                 Director                            Director

                                        /s/ Leroy Keith, Jr.                                   
- -------------------------               -------------------------          -------------------------
Laurence B. Ashkin                      Leroy Keith, Jr.*                  Michael S. Scofield  
Director                                 Director                            Director

/s/ Charles A. Austin, III              /s/ F. Ray Keyser, Jr.             /s/ Richard J. Shima
- -------------------------               -------------------------          -------------------------
Charles A. Austin, III*                 F. Ray Keyser, Jr.*                Richard J. Shima*
Director                                 Director                            Director

                                                                           /s/ Andrew J. Simons
- -------------------------               -------------------------          -------------------------
Foster Bam                              Gerald M. McDonell                 Andrew J. Simons*
Director                                 Director                            Director

/s/ Edwin D. Campbell
- -------------------------               -------------------------
Edwin D. Campbell*                      Thomas L. McVerry
Director                                 Director

</TABLE>



*By:/s/ Rosemary D. Van Antwerp
- -----------------------------
Rosemary D. Van Antwerp**
Attorney-in-Fact


     ** Rosemary D. Van Antwerp,  by signing her name  hereto,  does hereby sign
this  document  on behalf of each of the  above-named  individuals  pursuant  to
powers of attorney duly executed by such persons and attached  hereto as Exhibit
24(b)(19).
<PAGE>

                               
                                INDEX TO EXHIBITS

                                                                     Page Number
                                                                   In Sequential
Exhibit Number      Exhibit                                    Numbering System
- --------------      -------                                    ----------------

     1              Articles of Organization (1)

     2     (a)      By-Laws (2)
           (b)      Amendment to Bylaws (3)
          

     4     (a)      Specimen Stock Certificate (1)
           (b)      Articles of Incorporation (1)
           (c)      Bylaws, Articles I and VIII (2)
     
     5              Advisory Agreement (3)

     6     (a)      Form of Underwriting Agreement (3)
           (b)      Form of Dealer Agreement (3)

     8              Custodian, Fund Accounting and
                      Recordkeeping Agreement, as amended (2)

     9     (a)      Form of Marketing Services Agreement (3)
           (b)      Form of Sub-Administrator Agreement (3)
           (c)      Continuation Agreement (3)

    10              Opinion and Consent of Counsel (4)

    11              Independent Auditors' Consent (7)

    14              Model Retirement Plans (6)

    15              Distribution Plan  (2)

    16              Performance Data Schedule (7)

    17              Financial Data Schedule (filed as Exhibit 27) (7)

    19              Powers of Attorney (4)

- ----------------------------------

     (1) Incorporated herein by reference to Post-Effective Amendment No. 29.

     (2) Incorporated herein by reference to Post-Effective Amendment No. 63.

     (3) Incorporated herein by reference to Post-Effective Amendment No. 64.

     (4) Filed herewith.

     (5) Incorporated by reference to the 24f-2 Notice.

     (6) Incorporated herein by reference to Post-Effective Amendment No. 66 to
         Registration Statement No. 2-10527/811-96.

     (7) Incorporated herein by reference to Post-Effective Amendment No. 65.

<PAGE>                                                                
                                                                 May 30, 1997


Keystone International Fund Inc.
200 Berkeley Street
Boston, Massachusetts  02116-5034

Gentlemen:

     I am Senior Vice  President of and General  Counsel to Keystone  Investment
Management Company,  investment adviser to Keystone International Fund Inc. (the
"Fund").  You have asked for my opinion with respect to the proposed issuance of
9,755,890 additional shares of the Fund.

     To my knowledge,  a Prospectus  was filed with the  Securities and Exchange
Commission (the "Commission") as part of Post-Effective  Amendment No. 65 to the
Fund's Registration Statement,  which covers the public offering and sale of the
Fund shares currently registered with the Commission.

     In my opinion,  such  additional  shares,  if issued and sold in accordance
with  the  Fund's   Articles  of   Organization,   as  amended   ("Articles   of
Organization"),  By-Laws, as amended, and offering  Prospectus,  will be legally
issued, fully paid, and nonassessable by the Fund, entitling the holders thereof
to the rights  set forth in the  Articles  of  Organization  and  subject to the
limitations set forth therein.

     My  opinion  is  based  upon  my  examination  of the  Fund's  Articles  of
Organization  and  By-Laws;  a review  of the  minutes  of the  Fund's  Board of
Directors  authorizing  the issuance of such additional  shares;  and the Fund's
Prospectus.  In my examination of such documents, I have assumed the genuineness
of all signatures and the conformity of copies to originals.

     I  hereby   consent  to  the  use  of  this  opinion  in  connection   with
Post-Effective  Amendment  No. 66 to the Fund's  Registration  Statement,  which
covers the registration of such additional shares.

                                                    Very truly yours,

                                                    /s/ Rosemary D. Van Antwerp

                                                    Rosemary D. Van Antwerp
                                                    Senior Vice President and
                                                    General Counsel


20653



<PAGE>




                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.


                                           /s/ Frederick Amling
                                               Frederick Amling
                                               Director/Trustee


Dated: December 14, 1994
<PAGE>



                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.



                                           /s/ Charles A. Austin III
                                               Charles A. Austin III
                                               Director/Trustee


Dated: December 14, 1994
<PAGE>



                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.



                                           /s/ Edwin D. Campbell
                                               Edwin D. Campbell
                                               Director/Trustee


Dated: December 14, 1994
<PAGE>



                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.



                                           /s/ Charles F. Chapin
                                               Charles F. Chapin
                                               Director/Trustee


Dated: December 14, 1994
<PAGE>



                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.


                                           /s/ K. Dun Gifford
                                               K. Dun Gifford
                                               Director/Trustee


Dated: December 14, 1994
<PAGE>



                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.



                                           /s/ Leroy Keith, Jr.
                                               Leroy Keith, Jr.
                                               Director/Trustee


Dated: December 14, 1994
<PAGE>



                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.


                                           /s/ F. Ray Keyser,Jr.
                                               F. Ray Keyser, Jr.
                                               Director/Trustee


Dated: December 14, 1994
<PAGE>



                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.



                                           /s/ David M. Richardson
                                               David M. Richardson
                                               Director/Trustee


Dated: December 14, 1994
<PAGE>



                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.


                                           /s/ Richard J. Shima
                                               Richard J. Shima
                                               Director/Trustee


Dated: December 14, 1994
<PAGE>



                                POWER OF ATTORNEY



         I, the undersigned, hereby constitute Roger T. Wickers, Rosemary D. Van
Antwerp, Jean S. Loewenberg, Dorothy E. Bourassa, James M. Wall and Melina M. T.
Murphy,  each of them singly, my true and lawful  attorneys,  with full power to
them and each of them to sign  for me and in my name in the  capacity  indicated
below any and all registration statements,  including, but not limited to, Forms
N-8A,  N-8B-1,  S-5, N-1 and N-1A, as amended from time to time, and any and all
amendments  thereto to be filed with the Securities and Exchange  Commission for
the purpose of registering from time to time all investment companies of which I
am now or  hereafter  a Director  or Trustee  and for which  Keystone  Custodian
Funds,  Inc. serves as Adviser or Manager and registering  from time to time the
shares of such companies,  and generally to do all such things in my name and in
my behalf to enable such  investment  companies to comply with the provisions of
the Securities Act of 1933, as amended,  the Investment  Company Act of 1940, as
amended,  and all  requirements  and  regulations of the Securities and Exchange
Commission thereunder, hereby ratifying and confirming my signature as it may be
signed  by my  said  attorneys  to  any  and  all  registration  statements  and
amendments thereto.


                                           /s/ Andrew J. Simons
                                               Andrew J. Simons
                                               Director/Trustee


Dated: December 14, 1994



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