[Federal Register Volume 85, Number 21 (Friday, January 31, 2020)]
[Notices]
[Page 5768]
[FR Doc No: 2020-01766]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Docket No. 2019-0914]

Agency Information Collection Activities: Requests for Comments;
Clearance of Renewed Approval of Information Collection: Certification
of Aircraft and Airmen for the Operation of Light-Sport Aircraft

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice and request for comments.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, FAA
invites public comments about our intention to request the Office of
Management and Budget (OMB) approval to renew an information
collection. The Federal Register Notice with a 60-day comment period
soliciting comments on the following collection of information was
published on November 15, 2019. The collection involves the
recordkeeping requirement for owners/operators of aircraft issued a
special airworthiness certificate in the light-sport aircraft category
(SLSA) to keep the current status of applicable safety directives, and
transfer these records with the aircraft at the time the aircraft is
sold. The information to be collected is necessary to determine and
ensure the SLSA aircraft is in a condition for safe flight prior to
aircraft operation.

DATES: Written comments should be submitted by March 2, 2020.

ADDRESSES: Interested persons are invited to submit written comments on
the proposed information collection to the Office of Information and
Regulatory Affairs, Office of Management and Budget. Comments should be
addressed to the attention of the Desk Officer, Department of
Transportation/FAA, and sent via electronic mail to
<EMAIL_ADDRESS>or faxed to<PHONE_NUMBER>, or mailed to
the Office of Information and Regulatory Affairs, Office of Management
and Budget, Docket Library, Room 10102, 725 17th Street NW, Washington,
DC 20503.
    Public Comments Invited: You are asked to comment on any aspect of
this information collection, including (a) Whether the proposed
collection of information is necessary for FAA's performance; (b) the
accuracy of the estimated burden; (c) ways for FAA to enhance the
quality, utility and clarity of the information collection; and (d)
ways that the burden could be minimized without reducing the quality of
the collected information. The agency will summarize and/or include
your comments in the request for OMB's clearance of this information
collection.

FOR FURTHER INFORMATION CONTACT: Tanya Glines by email at:
<EMAIL_ADDRESS>phone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:
    OMB Control Number: 2120-0730.
    Title: Certification of Aircraft and Airmen for the Operation of
Light-Sport Aircraft.
    Form Numbers: Aircraft maintenance records/logs.
    Type of Review: Renewal of an information collection.
    Background: The Federal Register Notice with a 60-day comment
period soliciting comments on the following collection of information
was published on November 15, 2019 (84 FR 62563). Title 14 CFR
91.327(b)(4) states that aircraft issued a special airworthiness
certificate in the light-sport category (SLSA) cannot be operated
unless the owner or operator complies with each safety directive
applicable to the aircraft. Title 14 CFR 91.417(a)(2)(v) requires each
registered owner or operator to retain records containing the current
status of applicable safety directives including, for each, the method
of compliance, the safety directive number and revision date.
Additionally, if the safety directive involves recurring action, the
time and date when the next action is required.
    Recording safety directive compliance and retaining these records
is necessary to determine if unsafe conditions have been corrected on
aircraft issued a special airworthiness certificate in the light-sport
category (SLSA), which assists in ensuring that the SLSA aircraft is in
a condition safe for flight prior to its operation within the national
airspace.
    Respondents include owners/operators of SLSA, aircraft mechanics,
and LSA repairmen with a Maintenance rating. The records of SLSA safety
directive compliance are retained by the aircraft owner/operator, who
must keep the records for the life of the SLSA aircraft and transfer
them to the new owner at the time the aircraft is sold. The burden
estimates are based on the current number of registered SLA and a
projected future growth rate.
    Respondents: 2935 owners/operators of SLSA aircraft.
    Frequency: On occasion.
    Estimated Average Burden per Response: 2 Hours.
    Estimated Total Annual Burden: 5870 hours annual industry burden.

    Issued in Washington, DC, on January 27, 2020.
Tanya A. Glines,
Aviation Safety Inspector, Safety Standards, General Aviation
Maintenance Branch (AFS-350).
[FR Doc. 2020-01766 Filed 1-30-20; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register: October 3, 2008 (Volume 73, Number 193)]
[Notices]
[Page 57616-57617]
[DOCID:fr03oc08-43]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP08-476-000]

Transcontinental Gas Pipe Line Corporation; Notice of Application

September 29, 2008.
    Take notice that on September 18, 2008, Transcontinental Gas
Pipeline Corporation (Transco), 2800 Post Oak Boulevard, PO Box 1396,
Houston, Texas 77251-1396, filed in the above referenced docket an
application pursuant to section 7(c) of the Natural Gas Act (NGA), and
Part 157 of the Commission's Regulations for a certificate of public
convenience an necessity authorizing Transco's Mobile Bay South
Expansion Project (Project), an expansion of the capacity on Transco's
existing Mobile Bay Lateral located in southwest Alabama. In order to
create the incremental firm transportation capacity for the Project,
Transco proposes to construct a new compressor station (Station 85) and
appurtenant facilities to be located at the interconnection of the
Mobile Bay Lateral with Transco's mainline in Choctaw County, Alabama.
Under the Project, Transco states that it will provide 253,500
dekatherms per day (Dth/day) of incremental year-round firm
transportation capacity from Transco's Station 85 to delivery points on
the Mobile Bay Lateral, including, an existing interconnection with
Gulfstream Natural Gas System, L.L.C. in Coden, Alabama (Gulfstream).
Transco proposes its Zone 4A rates under Rate Schedule FT as the
initial rates for service under the Project. In addition, Transco
requests that the costs of the project be granted rolled-in rate
treatment, all as more fully set forth in the application which is on
file with the Commission and open to public inspection. The filing may
also be viewed on the Web at http://www.ferc.gov using the ``eLibrary''
link. Enter the docket number excluding the last three digits in the
docket number field to access the document. For assistance, please
contact FERC Online Support at<EMAIL_ADDRESS>or toll free
at<PHONE_NUMBER>, or TTY, contact<PHONE_NUMBER>.
    Any questions concerning this application may be directed to Ingrid
Germany, Staff Regulatory Analyst, Transcontinental Gas Pipe Line
Corp., PO Box 1396, Houston, Texas, 77251-1396 at<PHONE_NUMBER>.
    Pursuant to section 157.9 of the Commission's Rules, 18 CFR 157.9,
within 90 days of this Notice the Commission staff will either:
complete its environmental assessment (EA) and place it into the
Commission's public record (eLibrary) for this proceeding; or issue a
Notice of Schedule for Environmental Review. If a Notice of Schedule
for Environmental Review is issued, it will indicate, among other
milestones, the anticipated date for the Commission staff's issuance of
the final environmental impact statement (FEIS) or EA for this
proposal. The filing of the EA in the Commission's public record for
this proceeding or the issuance of a Notice of Schedule for
Environmental Review will serve to notify federal and state agencies of
the timing for the completion of all necessary reviews, and the
subsequent need to complete all federal authorizations within 90 days
of the date of issuance of the Commission staff's FEIS or EA.
    There are two ways to become involved in the Commission's review of
this project. First, any person wishing to obtain legal status by
becoming a party to the proceedings for this project should, on or
before the comment date stated below, file with the Federal Energy
Regulatory Commission, 888 First Street, NE., Washington, DC 20426, a
motion to intervene in accordance with the requirements of the
Commission's Rules of Practice and Procedure (18 CFR 385.214 or
385.211) and the Regulations under the NGA (18 CFR 157.10). A person
obtaining party status will be placed on the service list maintained by
the Secretary of the Commission and will receive copies of all
documents filed by the applicant and by all other parties. A party must
submit 14 copies of filings made with the Commission and must mail a
copy to the applicant and to every other party in the proceeding. Only
parties to the proceeding can ask for court review of Commission orders
in the proceeding.
    However, a person does not have to intervene in order to have
comments considered. The second way to participate is by filing with
the Secretary of the Commission, as soon as possible, an original and
two copies of comments in support of or in opposition to this project.
The Commission will consider these comments in determining the
appropriate action to be taken, but the filing of a comment alone will
not serve to make the filer a party to the proceeding. The Commission's
rules require that persons filing comments in opposition to the project
provide copies of their protests only to the party or parties directly
involved in the protest.
    Persons who wish to comment only on the environmental review of
this project should submit an original and two copies of their comments
to the Secretary of the Commission. Environmental commentors will be
placed on the Commission's environmental mailing list, will receive
copies of the environmental documents, and will be notified of meetings
associated with the Commission's environmental review process.
Environmental commentors will not be required to serve copies of filed
documents on all other parties. However, the non-party commentors will
not receive copies of all documents filed by other parties or issued by
the Commission (except for the mailing of environmental documents
issued by the Commission) and will not have the right to seek court
review of the Commission's final order.
    The Commission strongly encourages electronic filings of comments,
protests and interventions in lieu of paper using the ``eFiling'' link
at http://

www.ferc.gov. Persons unable to file electronically should submit an
original and 14 copies of the protest or intervention to the Federal
Energy regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    Comment Date: October 20, 2008.

Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. E8-23359 Filed 10-2-08; 8:45 am]

BILLING CODE 6717-01-P


UNITED STATES ENVIRONMENTAL PROTECTION AGENCY

WASHINGTON, D.C.  20460

OFFICE OF

PREVENTION, PESTICIDES

AND TOXIC SUBSTANCES

MEMORANDUM

	Date:	2/27/2008

	Subject:	Addendum to:  D331951, Cyfluthrin/Beta-cyfluthrin – Human
Health Risk Assessment For New Uses on Grasses, Alfalfa, and Sugar Beet
Seed and Revised Tolerances on Cereal Grain Commodities; and D339413,
Cyfluthrin and beta-Cyfluthrin,  Summary of Analytical Chemistry and
Residue Data.

Petition Nos.	6E7058 (Grasses)

6F7160 (Sugar Beets)

7F7226 (Alfalfa)

7F7200 (Cereal Grains and Forage, Fodder, and Hay of Cereal Grains)

DP Number:	D349871

PC Codes:	128831 - Cyfluthrin

118831 - Beta Cyfluthrin

40 CFR 180.	436

Chemical Class:	Pyrethroid

	From:	Douglas Dotson, Ph.D., Chemist

		Registration Action Branch 2

		Health Effects Division (7509P)

	Through:	Michael Doherty, Ph.D., Senior Scientist

		Registration Action Branch 2

		Health Effects Division (7509P)

	To:	Olga Odiott/George LaRocca, RM Team 13

		Insecticide Branch

		Registration Division (7505P)

The purpose of this memorandum is to inform the Registration Division
that HED recommends in favor of the establishment of tolerances for
cyfluthrin and beta-cyfluthrin on the commodities popcorn and teosinte.
HED recently completed a human health risk assessment for cyfluthrin and
beta-cyfluthrin (Memo, D331951, C. Swartz, et al., 10/23/2007).  In
support of this risk assessment, HED also prepared a residue chemistry
summary document (Memo, D339413, D. Dotson, 10/15/2007).  In both of
these documents, HED recommended in favor of the establishment of
tolerances for cereal grain commodities.  The commodities popcorn,
grain, and

teosinte, grain, were inadvertently left off of the list of commodities
for which HED was recommending tolerances.  These commodities should
have been included on the list.

Popcorn grain was included in the dietary exposure analysis (Memo,
D339414, D. Dotson, 8/31/2007) performed in support of the risk
assessment.  Therefore, the dietary exposure and risk estimates that
were reported in the cited risk assessment do not change as a result of
the addition of popcorn to the list of commodities with recommended
tolerances.  HED recommended in favor of a tolerance of 0.05 ppm for
field corn grain in order to harmonize with the Codex MRL.  HED is now
recommending in favor of a tolerance of 0.05 ppm for corn, pop, grain.
The dietary exposure and risk estimates are given in both the dietary
exposure memo and risk assessment cited above.

Teosinte was not included in the dietary exposure analysis performed for
the risk assessment.  However, there is no entry in the dietary exposure
model, DEEM-FCID for teosinte.  DEEM-FCID utilizes food consumption data
from the Continuing Surveys of Food Intakes by Individuals.  There is no
entry in the dietary model for teosinte, which means that no one who
participated in the food consumption survey reported eating teosinte.
In addition, teosinte is not a significant animal feed item.  Therefore,
animal commodity tolerances do not change as a result of the addition of
teosinte to the list of commodities with cyfluthrin tolerances.  As a
result, the dietary exposure and risk estimates that were reported in
the cited risk assessment do not change. The recommended tolerance for
teosinte, grain is the same as that for wheat grain:  0.15 ppm.

Table 1 provides the proposed and recommended tolerances associated with
tolerance petition 7F7200.  This list is the same as the list provided
in the previous residue chemistry summary document except that it
includes popcorn, grain and teosinte, grain.  The previous table also
contained four typographical errors that are corrected in the table
below.  In the previous table, the correct commodity definition for the
forage, stover, straw, and hay of the cereal grains crop group
erroneously stated that these commodities were in Crop Group 17.  These
commodities actually make up Crop Group 16.  As stated above, this error
is corrected in the table below.

Table 1.  Tolerance Summary for Cyfluthrin and beta-Cyfluthrin

Commodity	Established Tolerance

(ppm)	Proposed Tolerance

(ppm)	Recommended Tolerance

(ppm)	Comments, Correct Commodity Definition

Grass, forage, fodder and hay, group 17, forage	6.0 1	13.0	12	Adequate
grass field trial data are available.

Grass, forage, fodder and hay, group 17, hay	8.0 1	40.0	50

	Alfalfa, forage	-	5.0	5.0	Adequate alfalfa field trial data are
available.

Alfalfa, hay	10.0	15.0	13

	Beet, sugar, roots	-	0.09	0.10	Adequate field trial data are available

Beet, sugar, dried pulp	-	11	1.0	Maximum expected residues are 0.59 ppm
based on HAFT residues of 0.049 ppm and a 12x processing factor for
dried pulp.

Grain, cereal; Crop Group 15 (except Rice)	4.0	4.0	0.15	Wheat grain,
barley grain, buckwheat grain, millet grain, oat grain, rye grain,
teosinte, grain.

Grain, cereal; Crop Group 15 (except Rice)	4.0	4.0	0.05	Corn, field,
grain and corn, pop, grain

Grain, cereal; Crop Group 15 (except Rice)	4.0	4.0	0.05	Corn, sweet,
kernel plus cob with husks removed

Grain, cereal; Crop Group 15 (except Rice)	4.0	4.0	3.5	Sorghum, grain,
grain

Wheat, bran	6.5	-	0.5	Stored grain uses have been revoked. A tolerance
of 0.15 ppm is being recommended for wheat grain.

Corn, field, refined oil	30.0	-	-	The field corn, grain tolerance will
cover residues in corn oil

Rice, bran	6.0	-	-	Stored grain uses have been revoked

Rice, hulls	18.0	-	-	Stored grain uses have been revoked

Grain, cereal, forage, fodder and straw, Crop Group 16 (except Rice)	-2
7.0	25	Grain, cereal, forage, fodder, and hay, group 16, forage, except
Rice

Grain, cereal, forage, fodder and straw, Crop Group 16 (except Rice)	- 3
7.0	30	Grain, cereal, forage, fodder, and hay, group 16, stover, except
Rice

Grain, cereal, forage, fodder and straw, Crop Group 16 (except Rice)	- 4
7.0	7.0	Grain, cereal, forage, fodder, and hay, group 16, straw, except
Rice

Grain, cereal, forage, fodder and straw, Crop Group 16 (except Rice)	- 5
7.0	6.0	Grain, cereal, forage, fodder, and hay, group 16, hay, except
Rice

Wheat, forage	5.0	-	-	Crop group tolerance is being established for
Forage of Grain, Cereal, except Rice (Crop Group 16)

Corn, field, forage	3.0	-	-

	Corn, sweet, forage	15	-	-

	Sorghum, grain, forage	2.0	-	-

	Corn, field, stover	6.0	-	-	Crop group tolerance is being established
for Stover of Grain, Cereal, except Rice (Crop Group 16)

Corn, pop, stover	6.0	-	-

	Corn, sweet, stover	30.0	-	-

	Sorghum, grain, stover	5.0	-	-

	Wheat, hay	6.0	-	-	Crop group tolerance is being established for Hay of
Grain, Cereal, except Rice (Crop Group 16)

Wheat, straw	6.0	-	-	Crop group tolerance is being established for Straw
of Grain, Cereal, except Rice (Crop Group 16)

Cattle, fat	10	NA	2.0	Based on the recalculated MDBs for beef cattle
(20.9 ppm), dairy cattle (27.1 ppm) and swine (3.21 ppm) and the residue
data from the available cattle feeding study, tolerances for livestock
commodities can be substantially reduced.

Cattle, meat	0.4	NA	0.10

	Cattle, meat byproducts	0.4	NA	0.10

	Goat, fat	10	NA	2.0

	Goat, meat	0.4	NA	0.05

	Goat, meat byproducts	0.4	NA	0.05

	Hog, fat	10	NA	0.5

	Hog, meat	0.4	NA	0.01

	Hog, meat byproducts	0.4	NA	0.01

	Horse, fat	10	NA	2.0

	Horse, meat	0.4	NA	0.05

	Horse, meat byproducts	0.4	NA	0.05

	Milk	1.0	NA	0.2

	Milk, fat	30	NA	5.0

	Sheep, fat	10	NA	2.0

	Sheep, meat	0.4	NA	0.05

	Sheep, meat byproducts	0.4	NA	0.05

NA = not applicable

1 Regionally restricted tolerances for grass grown in CA, OR, ID and WA.

2 Forage tolerances are established for wheat (5.0 ppm), field corn (3.0
ppm), sweet corn (15 ppm), and sorghum (2.0 ppm)

3 Stover tolerances are established for field corn (6.0 ppm), popcorn
(6.0 ppm), sweet corn (30 ppm), and sorghum (5.0 ppm)

4 A straw tolerance is established for wheat (6.0 ppm)

5 A hay tolerance is established for wheat (6.0 ppm)

.

Cyfluthrin and beta-Cyfluthrin		Barcode:  D349871

 PAGE

Page  PAGE   2  of   NUMPAGES  4

Cyfluthrin and beta-Cyfluthrin		Barcode:  D349871

Page  PAGE   4  of   NUMPAGES  4


  U.S. Department of Labor  -  Occupational Safety and Health Administration
    MARITIME ADVISORY COMMITTEE FOR OCCUPATIONAL SAFETY AND HEALTH (MACOSH)
Conference Rooms 7 and 8, US Department of Labor, Federal Square Building, 2 Massachusetts Avenue, NE Washington, DC 20212-0001
                     Type of Meeting:  Full MACOSH Meeting
                         MACOSH Agenda: April 16, 2014
     Amy Wangdahl  -  Designated Federal Official  -<EMAIL_ADDRESS>          Jim Thornton  -  MACOSH Chair --<EMAIL_ADDRESS>         Jennifer Levin  -  Committee Counsel  -<EMAIL_ADDRESS>   Vanessa Welch  -  Longshoring Workgroup Support  -<EMAIL_ADDRESS>  Danielle Watson  -  Shipyard Workgroup Support  -<EMAIL_ADDRESS>           MACOSH Agendas are subject to change without prior notice
Full Committee Agenda: April 16, 2014         -Open to the Public-	    Scheduled items, Public Comment
9:00  -  9:05 AM
Opening Remarks, Roll-call, Introduction of MACOSH Members
Jim Thornton, MACOSH Chair
9:05  -  9:10 AM
Introduction of Public Participants
Jim Thornton, MACOSH Chair/ Public Participants
9:10  -  9:30 AM
Agenda
Jim Thornton, MACOSH Chair

Review of Minutes from the MACOSH meeting in Seattle, WA, July 2012
Full Committee

Role of MACOSH
Amy Wangdahl, Director, Office of Maritime and Agriculture
9:30  -  10:00 AM
Directorate of Standards and Guidance Update
Bill Perry, Acting Director, Directorate of Standards and Guidance
10:00   -  10:45 AM
Welcome and Introduction, and Committee Pictures
Dr. David Michaels, Assistant Secretary of Labor for OSHA
10:45  -  11:15 AM
Directorate of Standards and Guidance Update
Bill Perry, Acting Director, Directorate of Standards and Guidance
11:15  -  11:30 AM
Overview of the Federal Advisory Committee Act
Joe Plick, Office of the Solicitor
11:30  -  11:45 PM
Advisory Committee Ethics
Rob Sadler, Office of the Solicitor
11:45  -  12:45 PM
Lunch
On Your Own
12:45  -  1:00 PM
Directorate of Administrative Programs Update and MACOSH Travel Policies
John Lewis, Deputy Director, and Maggie Carson, Budget Officer, Directorate of Administrative Programs
1:00  -  1:30 PM
Presentation from the Office of Workers' Compensation Programs (OWCP)
Gary A. Steinberg, OWCP - DOL
1:30  -  2:00 PM
Directorate of Enforcement Programs Update on Maritime Activities
Tom Galassi, Director, Directorate of Enforcement Programs
2:00  -  2:15 PM
Break
On Your Own
2:15  -  2:45 PM
Field Case Study (Flammable Liquids)
John Vos  -  Compliance Safety and Health Officer, Savannah Area Office
2:45  -  3:30 PM
Longshoring Workgroup Report and Committee Discussion
Kelly Garber, Longshoring Workgroup Chair
3:30   -  4:15 PM
Shipyard Workgroup Report and Committee Discussion
Don Raffo, Shipyard Workgroup Chair
4:15  -  5:00 PM
Open discussion, Closing Remarks, Adjourn
Full Committee


[Federal Register: February 1, 2010 (Volume 75, Number 20)]
[Notices]
[Page 5156]
[DOCID:fr01fe10-119]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Monday, February
1, 2010 at 9:30 a.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
    The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matter at the Closed Meeting.
    Commissioner Casey, as duty officer, voted to consider the item
listed for the Closed Meeting in a closed session, and determined that
no earlier notice thereof was possible.
    The subject matter of the Closed Meeting scheduled for Monday,
February 1, 2010 will be:
    A litigation matter.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact:
    The Office of the Secretary at<PHONE_NUMBER>.

    Dated: January 27, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-2076 Filed 1-28-10; 11:15 am]
BILLING CODE 8011-01-P


[Federal Register: March 25, 2008 (Volume 73, Number 58)]
[Notices]
[Page 15824-15826]
[DOCID:fr25mr08-112]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57520; File No. SR-OCC-2008-02]

Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
Relating to the Definition and Use of the Terms ``Settlement Price''
and ``Final Settlement Price''

 March 18, 2008.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on January 24, 2008, The
Options Clearing Corporation (``OCC'') filed with the Securities and
Exchange Commission (``Commission'') the proposed rule change as
described in Items I, II, and III below, which items have been prepared
primarily by OCC. OCC filed the proposed rule change pursuant to
Section 19(b)(3)(A)(i) of the Act \2\ and Rule 19b-4(f)(1) \3\
thereunder so that the proposal was effective upon filing with the
Commission. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78s-1(b)(3)(A)(i).
    \3\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The proposed rule change amends the definition and use of the terms
``settlement price'' and ``final settlement price'' as applied to
futures contracts cleared by OCC for the purpose of improving the
definitions and establishing consistent usage.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, OCC included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. OCC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of such
statements.\4\
---------------------------------------------------------------------------

    \4\ The Commission has modified parts of these statements.
---------------------------------------------------------------------------

(A) Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    The primary purpose of the proposed rule change is to revise OCC's
By-Laws and Rules to eliminate any inconsistencies in the use of the
terms ``settlement price'' and ``final settlement price'' and to
clarify the roles of OCC and of the exchanges on which futures are
traded in determining the daily and if applicable intraday settlement
price and the final settlement price of a series of futures contracts.
OCC is also making one change in its rules to reflect a change in the
services available to clearing members.
    The two key components of the proposed rule change involve the
definition of ``settlement price'' and ``final settlement price'' as
used in OCC's By-Laws and Rules and the location of the language
governing the manner in which settlement prices are determined.
Currently, the prices used to calculate daily or intraday variation
payments are referred to simply as ``settlement prices'' rather than
``interim settlement prices.'' The term ``settlement price'' does not
encompass the term ``final settlement price,'' which is separately
defined to refer only to the price used to determine the value of a
contract at maturity. There are provisions of OCC's By-Laws and Rules
that apply equally to daily or intraday settlement prices and final
settlement prices. Accordingly, OCC is revising the definition of
``settlement price'' to encompass both types of prices. The term
``interim settlement price'' will be used to refer to prices used to
determine daily and intraday variation payments. In addition, the
definition of ``final settlement price'' is being revised in
recognition of the possibility that prices determined in the futures
markets themselves, as opposed to prices determined in the cash markets
for the underlying interests, may sometimes be used to determine the
final settlement price. OCC is also moving the language regarding the
establishment of the interim settlement price for futures from Rule
1301(d) to Article XII, Section 6 of OCC's By-Laws. OCC believes that
this language more logically belongs in Article XII, which currently
governs only the establishment of final settlement prices.
Proposed Changes to By-Laws
    OCC is introducing the new term ``interim settlement price'' in
Article I, Section 1 of its By-Laws with respect to futures to refer to
what is currently defined simply as ``settlement price''

and will use the term ``settlement price'' to encompass both interim
settlement prices and final settlement prices for futures.
    OCC is redefining and simplifying the term ``final settlement
price'' in Article I, Section 1 of the By-Laws and eliminating the
reference to ``Exchange Rules,'' which are relevant to some but not all
determinations of the final settlement price and are referenced
elsewhere in the By-Laws and Rules where relevant. The definition
addresses what is meant by ``final settlement price'' with respect to a
series of futures (i.e., the marking price, rate, level, value, or
measure of the designated interest on the maturity date of such
series). It further addresses the uses of the final settlement price
(i.e., to calculate the final variation payment with respect to cash-
settled futures and the purchase price of the underlying interest in
respect of physically settled futures). The definition does not address
the manner in which the final settlement price is determined, which is
covered in Article XII, Section 6(b), as amended.
    While the final settlement price of a series of stock futures is
normally determined on the basis of the value of the underlying stock
at maturity, at least one futures exchange clearing through OCC
consistently uses the value of the futures contract itself (i.e., the
settlement price, on the maturity date as the basis for determining the
final settlement price). Accordingly, in addition to the above changes,
OCC is revising the term ``final settlement price'' to account for the
use in some instances of the value of the futures contract rather than
the value of the underlying interest in determining this price.
    OCC is making certain technical corrections to the definition of
the term ``maturity date.''
    OCC is modifying Article VI, Section 10(d) of OCC's By-Laws, which
currently refers to the adjustment of the unit of trading and
settlement price for a series of stock futures, to reflect OCC's
current procedures under which one or the other of the unit of trading
or settlement price but not both is subject to adjustment. OCC is also
correcting certain erroneous references in this subsection.
    The term ``settlement price'' is used in various locations within
Article VI, Section 19; Article XV, Section 3; and Article XX, Section
3 of OCC's By-Laws in a manner that is wholly unrelated to the
settlement price for security futures. The word ``cash'' has been
placed before the term ``settlement price'' in each these sections
wherever the term appears.
    OCC is making a correction to Article XII, Section 1 by replacing
the term ``security future'' with ``future,'' which includes both
commodity and security futures. Article XII, Section 3 is revised to
reflect OCC's current procedures under which the unit of trading or
settlement price but not both may be adjusted in connection with stock
splits, stock dividends, and similar corporate events. OCC is modifying
Article XII, Sections 4, 4A, and 5 under which the terms ``interim
settlement price,'' ``final settlement price,'' and ``settlement
price'' are used in a manner consistent with their new or revised
definitions. OCC is moving the language governing the manner in which
interim settlement prices are determined from Rule 1301(d) to Article
XII, Section 6(a) to precede the provision governing the determination
of final settlement prices covered in Section 6(b). As a result of the
transfer of the content of Rule 1301(d) to Article XII, Section 6, this
section now governs the manner in which both interim settlement prices
and final settlement prices are determined while Rule 1301 addresses
only variation payments.
    In addition to moving the language of former Rule 1301(d) to
Article XII, Section 6(a) of the By-Laws, OCC is modifying the
language. The modifications make it clear that OCC determines the
interim settlement price used to establish the amount of the required
variation payment, but does so on the basis of an interim settlement
price reported to OCC by the relevant exchange. A similar change is
being made in Article XII, Section 6(b) and in Interpretation and
Policy .01 to the section. Generally, OCC would simply adopt the price
it receives from the exchange, but OCC has broad authority to disregard
that price if it appears erroneous or otherwise defective. The changes
also clarify OCC's responsibility in connection with settlement prices
of series of security futures that are traded on more than one
exchange.
Proposed Changes to Rules
    OCC is deleting Rule 404, relating to its use of a give-up service
provider, because OCC no longer has a relationship with a give-up
service provider. OCC is redesignating Rule 1301(e) as Rule 1301(d) as
a result of the transfer of former Rule 1301(d) to Article XII, Section
6 of the By-Laws. The portion of Rule 1301(e) governing the
determination of final settlement prices is deleted as this subject is
covered by Article XII, Section 6(b) of the By-Laws. Rule 1301 is also
revised to make the use of the terms ``interim settlement price,''
``final settlement price,'' and ``settlement price'' consistent with
their new or revised definitions.
    The proposed rule change is consistent with the purposes and
requirements of Section 17A of Act because it is designed to promote
the prompt and accurate clearance and settlement of transactions in
futures, to foster cooperation and coordination with persons engaged in
the clearance and settlement of such transactions, to remove
impediments to and perfect the mechanism of a national system for the
prompt and accurate clearance and settlement of such transactions, and
in general to protect investors and the public interest. The proposed
rule change accomplishes this purpose by establishing consistent usage
for the terms ``settlement price'' and ``final settlement price'' and
by revising the definition of ``final settlement price'' to account for
the use in some instances of the prices determined in the futures
markets themselves rather than the prices determined in the cash
markets to determine the final settlement price for futures. The
proposed rule change is not inconsistent with the By-laws and Rules of
OCC, including those proposed to be amended.

(B) Self-Regulatory Organization's Statement on Burden on Competition

    OCC does not believe that the proposed rule change would impose any
burden on competition.

(C) Self-Regulatory Organization's Statement on Comments on the
Proposed Rule Change Received from Members, Participants, or Others

    Written comments were not and are not intended to be solicited with
respect to the proposed rule change, and none have been received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(i) of the Act \5\ and Rule 19b-4(f)(1) \6\ promulgated
thereunder because the proposal constitutes an interpretation with
respect to the meaning, administration, or enforcement of an existing
rule of OCC. At any time within sixty days of the filing of the
proposed rule change, the Commission may summarily abrogate such rule
change if it appears to the

Commission that such action is necessary or appropriate in the public
interest, for the protection of investors, or otherwise in furtherance
of the purposes of the Act.
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    \5\ 15 U.S.C. 78s(b)(3)(A)(i).
    \6\ 17 CFR 240.19b-4(f)(1).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-OCC-2008-02 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-OCC-2008-02. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/
sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room, 100 F Street, NE.,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of such filing also will be available for
inspection and copying at the principal office of OCC. All comments
received will be posted without change; the Commission does not edit
personal identifying information from submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-OCC-2008-02 and should be
submitted on or before April 15, 2008.

    For the Commission by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-5911 Filed 3-24-08; 8:45 am]

BILLING CODE 8011-01-P