As filed with the Securities and Exchange Commission on July 14, 2010
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1933 Act File No. 333-161666
1940 Act File No. 811-22080
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-2
(Check appropriate box or boxes)
[ ] REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
[ ] Pre-Effective Amendment No. __
[X] Post-Effective Amendment No. 3
and
[ ] REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
[X] Amendment No. 7
First Trust Active Dividend Income Fund
Exact Name of Registrant as Specified in Declaration of Trust
120 East Liberty Drive, Suite 400, Wheaton, Illinois 60187
Address of Principal Executive Offices (Number, Street, City, State, Zip Code)
(630) 765-8000
Registrant's Telephone Number, including Area Code
W. Scott Jardine, Esq.
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
Name and Address (Number, Street, City, State, Zip Code) of Agent for Service
Copies of Communications to:
Eric F. Fess, Esq.
Chapman and Cutler LLP
111 West Monroe Street
Chicago, Illinois 60603
Approximate Date of Proposed Public Offering: From time to time after the
effective date of this Registration Statement
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If any of the securities being registered on this form are offered on a delayed
or continuous basis in reliance on Rule 415 under the Securities Act of 1933,
other than securities offered in connection with a dividend reinvestment plan,
check the following box. [X]
This Post-Effective Amendment No. 3 will become effective immediately upon
filing pursuant to Rule 462(d) under the Securities Act of 1933.
EXPLANATORY NOTE
This Post-Effective Amendment No. 3 to the Registration Statement on
Form N-2 (File No. 333-161666) of First Trust Active Dividend Income Fund (the
"Registration Statement") is being filed pursuant to Rule 462(d) under the
Securities Act of 1933, as amended (the "Securities Act"), solely for the
purpose of filing exhibits to the Registration Statement. Accordingly, this
Post-Effective Amendment No. 3 consists only of a facing page, this explanatory
note and Part C of the Registration Statement on Form N-2 setting forth the
exhibits to the Registration Statement. This Post-Effective Amendment No. 3 does
not modify any other part of the Registration Statement. Pursuant to Rule 462(d)
under the Securities Act, this Post-Effective Amendment No. 3 shall become
effective immediately upon filing with the Securities and Exchange Commission.
The contents of the Registration Statement are hereby incorporated by reference.
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PART C - OTHER INFORMATION
ITEM 25: FINANCIAL STATEMENTS AND EXHIBITS
1. Financial Statements:
The Registrant's audited financial statements, notes to the financial
statements and the report of independent public accounting firm thereon have
been incorporated into Part B of the Registration Statement by reference to
Registrant's Annual Report for the fiscal year ended November 30, 2009 contained
in its Form N-CSR, as described in the statement of additional information.
2. Exhibits:
a. Declaration of Trust dated June 14, 2007.(1)
b. By-Laws of Fund.*
c. None.
d. Form of Share Certificate.(3)
e. Terms and Conditions of the Dividend Reinvestment Plan.(3)
f. None.
g.1 Investment Management Agreement between Registrant and First Trust
Advisors L.P.(3)
g.2 Sub-Advisory Agreement between Registrant, First Trust Advisors L.P. and
Aviance Capital Management, LLC.(5)
h.1 Form of Underwriting Agreement.**
h.2 Sales Agreement.*
i. None.
j. Custodian Services Agreement between Registrant and PFPC Trust Company.(4)
k.1 Transfer Agency Services Agreement between Registrant and PNC Global
Investment Servicing (U.S.) Inc.(4)
k.2 Administration and Accounting Services Agreement between Registrant and
PNC Global Investment Servicing (U.S.) Inc.(4)
l.1 Opinion and consent of Chapman and Cutler LLP.*
l.2 Opinion and consent of Bingham McCutchen LLP.*
m. None.
n. Consent of Independent Registered Public Accounting Firm.*
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o. None.
p. Subscription Agreement between Registrant and First Trust Advisors L.P.(3)
q. None.
r.1 Code of Ethics of Registrant.(3)
r.2 Code of Ethics of First Trust Portfolios L.P.(3)
r.3 Code of Ethics of First Trust Advisors L.P.(3)
r.4 Code of Ethics of Aviance Capital Management, LLC.(3)
s. Powers of Attorney.(4)
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* Filed herewith.
** To be filed by post-effective amendment.
(1) Filed on June 15, 2007 in Registrant's Registration Statement on Form N-2
(File No. 333-143792) and incorporated herein by reference.
(2) Filed on June 24, 2007 in Registrant's Registration Statement on Form N-2
(File No. 333-143792) and incorporated herein by reference.
(3) Filed on September 20, 2007 in Registrant's Registration Statement on
Form N-2 (File No. 333-143792) and incorporated herein by reference.
(4) Filed on September 1, 2009 in Registrant's Registration Statement on Form
N-2 (File No. 333-161666) and incorporated herein by reference.
(5) Filed on March 11, 2010 in Registrant's Registration Statement on Form
N-2 (File No. 333-161666) and incorporated herein by reference.
ITEM 26: MARKETING ARRANGEMENTS
Reference is made to the section entitled "Plan of Distribution"
contained in Registrant's Prospectus, filed herewith as Part A of Registrant's
Registration Statement and to information contained under the section entitled
"Plan of Distribution" in any Prospectus Supplement to the Prospectus.
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ITEM 27: OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION
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Securities and Exchange Commission Fees $ 1,900
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Financial Industry Regulatory Authority, Inc. Fees $ 5,500
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Printing and Engraving Expenses $ 5,000
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Legal Fees $ 200,000
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Listing Fees $ --
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Accounting Expenses $ 18,000
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Blue Sky Filing Fees and Expenses $ --
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Miscellaneous Expenses $ --
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Total $ 230,400*
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* These expenses will be borne by the Registrant unless otherwise specified in a
prospectus supplement.
ITEM 28: PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH REGISTRANT
Not applicable.
ITEM 29: NUMBER OF HOLDERS OF SECURITIES
At May 31, 2010
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Title of Class Number of Record Holders
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Common Shares, $0.01 par value 6,005
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ITEM 30: INDEMNIFICATION
Section 9.5 of the Registrant's Declaration of Trust provides as
follows:
Indemnification and Advancement of Expenses. Subject to the exceptions
and limitations contained in this Section 9.5, every person who is, or has been,
a Trustee, officer or employee of the Trust, including persons who serve at the
request of the Trust as directors, trustees, officers, employees or agents of
another organization in which the Trust has an interest as a shareholder,
creditor or otherwise (hereinafter referred to as a "Covered Person"), shall be
indemnified by the Trust to the fullest extent permitted by law against
liability and against all expenses reasonably incurred or paid by him in
connection with any claim, action, suit or proceeding in which he becomes
involved as a party or otherwise by virtue of his being or having been such a
Trustee, director, officer, employee or agent and against amounts paid or
incurred by him in settlement thereof.
No indemnification shall be provided hereunder to a Covered Person to
the extent such indemnification is prohibited by applicable federal law.
The rights of indemnification herein provided may be insured against by
policies maintained by the Trust, shall be severable, shall not affect any other
rights to which any Covered Person may now or hereafter be entitled, shall
continue as to a person who has ceased to be such a Covered Person and shall
inure to the benefit of the heirs, executors and administrators of such a
person.
Subject to applicable federal law, expenses of preparation and
presentation of a defense to any claim, action, suit or proceeding subject to a
claim for indemnification under this Section 9.5 shall be advanced by the Trust
prior to final disposition thereof upon receipt of an undertaking by or on
behalf of the recipient to repay such amount if it is ultimately determined that
he is not entitled to indemnification under this Section 9.5.
To the extent that any determination is required to be made as to
whether a Covered Person engaged in conduct for which indemnification is not
provided as described herein, or as to whether there is reason to believe that a
Covered Person ultimately will be found entitled to indemnification, the Person
or Persons making the determination shall afford the Covered Person a rebuttable
presumption that the Covered Person has not engaged in such conduct and that
there is reason to believe that the Covered Person ultimately will be found
entitled to indemnification.
As used in this Section 9.5, the words "claim," "action," "suit" or
"proceeding" shall apply to all claims, demands, actions, suits, investigations,
regulatory inquiries, proceedings or any other occurrence of a similar nature,
whether actual or threatened and whether civil, criminal, administrative or
other, including appeals, and the words "liability" and "expenses" shall include
without limitation, attorneys' fees, costs, judgments, amounts paid in
settlement, fines, penalties and other liabilities.
ITEM 31: BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISERS
The information in the Statement of Additional Information under the captions
"Management of the Company--Directors and Officers" and "Sub-Advisor" is hereby
incorporated by reference.
ITEM 32: LOCATION OF ACCOUNTS AND RECORDS.
First Trust Advisors L.P. maintains the Declaration of Trust, By-Laws, minutes
of trustees and shareholders meetings and contracts of the Registrant, all
advisory material of the investment adviser, all general and subsidiary ledgers,
journals, trial balances, records of all portfolio purchases and sales, and all
other required records.
ITEM 33: MANAGEMENT SERVICES
Not applicable.
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ITEM 34: UNDERTAKINGS
1. Registrant undertakes to suspend the offering of its shares until it
amends its prospectus if (1) subsequent to the effective date of its
Registration Statement, the net asset value declines more than 10 percent
from its net asset value as of the effective date of the Registration
Statement, or (2) the net asset value increases to an amount greater than
its net proceeds as stated in the prospectus.
2. Not applicable.
3. Not applicable.
4. The Registrant undertakes (a) to file, during any period in which offers
or sales are being made, a post-effective amendment to this Registration
Statement:
(1) to include any prospectus required by Section 10(a)(3) of the Securities
Act of 1933;
(2) to reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in
the registration statement; and
(3) to include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or
any material change to such information in the registration statement;
(b) that, for the purpose of determining liability under the Securities Act
of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and
the offering of those securities at that time shall be deemed to be the
initial bona fide offering thereof; and
(c) to remove from registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of
the offering;
(d) that, for the purpose of determining liability under the Securities Act
of 1933 to any purchaser, if the Registrant is subject to Rule 430C; each
prospectus filed pursuant to Rule 497(b), (c), (d) or (e) under the
Securities Act of 1933, shall be deemed to be part of and included in
this Registration Statement as of the date it is first used after
effectiveness. Provided, however, that no statement made in this
Registration Statement or prospectus that is part of this registration
statement or made in a document incorporated or deemed incorporated by
reference into this registration statement or prospectus that is art of
this registration statement will, as to a purchaser with a time of
contract of sale prior to such first use, supercede or modify any
statement that was made in this registration statement or prospectus that
was part of this registration statement or made in any such document
immediately prior to such date of first use;
(e) that for the purpose of determining liability of the Registrant under the
Securities Act of 1933 to any purchaser in the initial distribution of
securities:
The undersigned Registrant undertakes that in a primary offering of
securities of the undersigned Registrant pursuant to this registration
statement, regardless of the underwriting method used to sell the
securities to the purchaser, if the securities are offered or sold to
such purchaser by means of any of the following communications, the
undersigned Registrant will be a seller to the purchaser and will be
considered to offer or sell such securities to the purchaser:
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(1) any preliminary prospectus or prospectus of the undersigned Registrant
relating to the offering required to be filed pursuant to Rule 497 under
the Securities Act of 1933;
(2) the portion of any advertisement pursuant to Rule 482 under the
Securities Act of 1933 relating to the offering containing material
information about the undersigned Registrant or its securities provided
by or on behalf of the undersigned Registrant; and
(3) any other communication that is an offer in the offering made by the
undersigned Registrant to the purchaser.
5. The Registrant undertakes that:
a. For purposes of determining any liability under the Securities Act of
1933, the information omitted from the form of prospectus filed as part
of a registration statement in reliance upon Rule 430A and contained in
the form of prospectus filed by the Registrant under Rule 497(h) under
the Securities Act of 1933 shall be deemed to be part of the Registration
Statement as of the time it was declared effective; and
b. For the purpose of determining any liability under the Securities Act of
1933, each post-effective amendment that contains a form of prospectus
shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of the securities at that
time shall be deemed to be the initial bona fide offering thereof.
6. The Registrant undertakes to send by first class mail or other means
designed to ensure equally prompt delivery, within two business days of
receipt of a written or oral request, any Statement of Additional
Information.
7. Upon each issuance of securities pursuant to this Registration Statement,
the Registrant undertakes to file a form of prospectus and/or prospectus
supplement pursuant to Rule 497 and a post-effective amendment to the
extent required by the Securities Act of 1933 and the rules and
regulations thereunder, including, but not limited to a post-effective
amendment pursuant to Rule 462(c) or Rule 462(d) under the Securities Act
of 1933.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in this City of Wheaton, and State of Illinois, on the 14th day of
July, 2010.
FIRST TRUST ACTIVE DIVIDEND INCOME FUND
By: /s/ James A. Bowen
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James A. Bowen, President
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the date indicated.
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Signature Title Date
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By: /s/ James A. Bowen President, Chairman of the Board and July 14, 2010
----------------------- Trustee (Principal Executive Officer)
James A. Bowen
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By: /s/ Mark R. Bradley Chief Financial Officer and July 14, 2010
------------------------ Treasurer (Principal Financial and
Mark R. Bradley Accounting Officer)
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Richard E. Erickson(1) Trustee )
---------------------------------------- -------------------------------------- By: /s/ W. Scott Jardine
Thomas R. Kadlec(1) Trustee ) ----------------------
---------------------------------------- -------------------------------------- W. Scott Jardine
Robert F. Keith(1) Trustee ) Attorney-In-Fact
---------------------------------------- -------------------------------------- July 14, 2010
Niel B. Nielson(1) Trustee )
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(1) Original powers of attorney authorizing James A. Bowen, W. Scott Jardine,
Kristi A. Maher and Eric F. Fess to execute Registrant's Registration Statement,
and Amendments thereto, for each of the trustees of the Registrant on whose
behalf this Registration Statement is filed, were previously executed and filed
and are incorporated by reference herein.
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INDEX TO EXHIBITS
b. By-Laws of Fund.
h.2 Sales Agreement.
l.1 Opinion and consent of Chapman and Cutler LLP.
l.2 Opinion and consent of Bingham McCutchen LLP.
n. Consent of Independent Registered Public Accounting Firm.
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