UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-8F
I. General Identifying Information
1. Reason fund is applying to deregister (check only one; for
descriptions, see Instruction 1 above):
[ ] Merger
[x] Liquidation
[ ] Abandonment of Registration
(Note: Abandonments of Registration answer only questions 1
through 15, 24 and 25 of this form and complete verification
at the end of the form.)
[ ] Election of status as a Business Development Company
(Note: Business Development Companies answer only questions
1 through 10 of this form and complete verification at the
end of the form.)
2. Name of fund: Income Opportunities Fund 1999, Inc.
3. Securities and Exchange Commission File No.: 811-06716
4. Is this an initial Form N-8F or an amendment to a previously filed
Form N-8F?
[x] Initial Application [ ] Amendment
5. Address of Principal Executive Office (include No. & Street, City,
State, Zip Code):
c/o Merrill Lynch Asset Management, L.P., P.O. Box 9011, Princeton,
New Jersey 08536.
6. Name, address and telephone number of individual the Commission staff
should contact with any questions regarding this form:
Frank P. Bruno or W. Wayne Miao, Brown & Wood LLP, One World Trade
Center, New York, New York 10048. Mr. Bruno (212) 839-5540,
Mr. Miao (212) 839-7303.
7. Name, address and telephone number of individual or entity responsible
for maintenance and preservation of fund records in accordance with
rules 31a-1 and 31a-2 under the Investment Company Act of 1940, as
amended. [17 CFR 270.31a-1, .31a-2]
Terry K. Glenn, Merrill Lynch Asset Management, L.P., P.O. Box 9011,
Princeton, New Jersey 08536. Telephone Number: (609) 282-2004.
NOTE: Once deregistered, a fund is still required to maintain and
preserve the records described in rules 31a-1 and 31a-2 for the
periods specified in those rules.
8. Classification of fund (check only one):
[x] Management company;
[ ] Unit investment trust; or
[ ] Face-amount certificate company.
9. Subclassification if the fund is a management company (check only
one):
[ ] Open-end [x] Closed-end
10. State law under which the fund was organized or formed (e.g.,
Delaware, Massachusetts):
Maryland
11. Provide the name and address of each investment adviser of the fund
(including sub-advisers) during the last five years, even if the
fund's contracts with those advisers have been terminated:
Adviser:
Fund Asset Management, L.P.
800 Scudders Mill Road
Plainsboro, New Jersey 08536
12. Provide the name and address of each principal underwriter of the
fund during the last five years, even if the fund's contracts with
those underwriters have been terminated:
N/A
13. If the fund is a unit investment trust ("UIT") provide:
(a) Depositor's name(s) and address(es): N/A
(b) Trustee's name(s) and address(es): N/A
14. Is there a UIT registered under the Act that served as a vehicle for
investment in the fund (e.g., an insurance company separate account)?
[ ] Yes [X] No
if Yes, for each UIT state:
Name(s):
File No.: 811-
Business Address:
15. (a) Did the fund obtain approval from the board of directors
concerning the decision to engage in a Merger, Liquidation
or Abandonment of Registration?
[ ] Yes [x] No
If Yes, state the date on which the board vote took place:
If No, explain:
Article IX of the Charter provides that the Fund shall cease
to exist on the close of business on December 31, 1999.
(b) Did the fund obtain approval from the shareholders
concerning the decision to engage in a Merger, Liquidation
or Abandonment of Registration?
[ ] Yes [x] No
If Yes, state the date on which the shareholder vote took
place:
If No, explain:
Article IX of the Charter provides that the Fund shall cease
to exist on the close of business on December 31, 1999
II. Distributions to Shareholders
16. Has the fund distributed any assets to its shareholders in connection
with the Merger or Liquidation?
[x] Yes [ ] No
(a) If Yes, list the date(s) on which the fund made those
distributions: December 27, 1999
(b) Were the distributions made on the basis of net assets?
[x] Yes [ ] No
(c) Were the distributions made pro rata based on share ownership?
[x] Yes [ ] No
(d) If No to (b) or (c) above, describe the method of distributions
to shareholders. For Mergers, provide the exchange ratio(s)
used and explain how it was calculated:
(e) Liquidations only:
Were any distributions to shareholders made in kind?
[ ] Yes [x] No
If Yes, indicate the percentage of fund shares owned by
affiliates, or any other affiliation of shareholders:
17. Closed-end funds only:
Has the fund issued senior securities?
[ ] Yes [x] No
If Yes, describe the method of calculating payments to senior
securityholders and distributions to other shareholders:
18. Has the fund distributed all of its assets to the fund's shareholders?
[ ] Yes [x] No
If No,
(a) How many shareholders does the fund have as of the date this form
is filed? None.
(b) Describe the relationship of each remaining shareholder to the
fund: N/A
19. Are there any shareholders who have not yet received distributions
in complete liquidation of their interests?
[ ] Yes [x] No
If Yes, describe briefly the plans (if any) for distributing to, or
preserving the interests of, those shareholders:
III. Assets and Liabilities
20. Does the fund have any assets as of the date this form is filed?
(See question 18 above)
[x] Yes [ ] No
If Yes,
(a) Describe the type and amount of each asset retained by the
fund as of the date this form is filed: As of February 7,
2000, the fund has $1,036,778.58 in cash.
(b) Why has the fund retained the remaining assets? The fund has
retained the assets to pay miscellaneous expenses
($86,982.17). The remaining cash ($949,796.41) is to pay
for shares that have not yet been turned in and is offset by
a liability of an equal amount to make payment to the fund's
Transfer Agent.
(c) Will the remaining assets be invested in securities?
[ ] Yes [x] No
21. Does the fund have any outstanding debts (other than face-amount
certificates if the fund is a face-amount certificate company) or
any other liabilities?
[ ] Yes [x] No
If Yes,
(a) Describe the type and amount of each debt or other liability:
(b) How does the fund intend to pay these outstanding debts or other
liabilities?
IV. Information About Event(s) Leading to Request For Deregistration
22. (a) List the expenses incurred in connection with the Merger or
Liquidation:
(i) Legal expenses: $3,000
(ii) Other expenses $34, 890
(iii) Total expenses $37,890
(b) How were those expenses allocated? Pro rata among all
stockholders of the Fund.
(c) Who paid those expenses? The Fund.
(d) How did the fund pay for unamortized expenses (if any)? N/A
23. Has the fund previously filed an application for an order of the
Commission regarding the Merger or Liquidation?
[ ] Yes [x] No
If Yes, cite the release numbers of the Commission's notice and order
or, if no notice or order has been issued, the file number and date
the application was filed:
V. Conclusion of Fund Business
24. Is the fund a party to any litigation or administrative proceeding?
[ ] Yes [x] No
If Yes, describe the nature of any litigation or proceeding and the
position taken by the fund in that litigation:
25. Is the fund now engaged, or intending to engage, in any business
activities other than those necessary for winding up its affairs?
[ ] Yes [x] No
If Yes, describe the nature and extent of those activities:
VI. Mergers Only
26. (a) State the name of the fund surviving the Merger:
(b) State the Investment Company Act file number of the
fund surviving the Merger: 811-____
(c) If the merger or reorganization agreement has been filed
with the Commission, state the file number(s), form type
used and date the agreement was filed:
(d) If the merger or reorganization agreement has not been filed
with the Commission, provide a copy of the agreement as an
exhibit to this form.
VERIFICATION
The undersigned states that (i) he has executed this Form N-8F application for
an order under section 8(f) of the Investment Company Act of 1940 on behalf of
Income Opportunities Fund 1999, Inc., (ii) he is the Vice President and
Treasurer of Income Opportunities Fund 1999, Inc., and (iii) all actions by
shareholders, directors, and any other body necessary to authorize the
undersigned to execute and file this Form N-8F application have been taken.
The undersigned also states that the facts set forth in this Form N-8F
application are true to the best of his or her knowledge, information and
belief.
/s/ Donald C. Burke
--------------------
Donald C. Burke
Vice President and Treasurer
