[Federal Register: June 20, 2008 (Volume 73, Number 120)]
[Notices]
[Page 35175-35178]
[DOCID:fr20jn08-102]

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 SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57962; File No. SR-NASDAQ-2008-039]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order
Granting Approval of Proposed Rule Change, as Modified by Amendment No.
1 Thereto, Relating to the Listing and Trading of Managed Fund Shares

June 13, 2008.

I. Introduction

    On April 30, 2008, The NASDAQ Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'')\1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change seeking to adopt new Nasdaq Rule 4420(o) to list
and trade, or trade pursuant to unlisted trading privileges (``UTP''),
securities issued by actively managed, open-end investment management
companies (``Managed Fund Shares'') and to amend certain other Nasdaq
rules to incorporate references to such Managed Fund Shares. On May 7,
2008, the Exchange filed Amendment No. 1 to the proposed rule change.
The proposed rule change, as amended, was published for comment in the
Federal Register on May 14, 2008.\3\ The Commission received no
comments regarding the proposal. This order approves the proposed rule
change, as modified by Amendment No. 1.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 57800 (May 8, 2008),
73 FR 27874 (``Notice'').
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II. Description of the Proposal

    The Exchange proposes to add new Nasdaq Rule 4420(o) to permit the
listing and trading, or trading pursuant to UTP, of Managed Fund
Shares.\4\ The Exchange also proposes to make conforming changes to the
introductory paragraph of Nasdaq Rule 4420, Nasdaq Rules 4120(a)(9) and
4120(b)(4)(A), which relate to trading halts, and Nasdaq Rule 4540,
which relates to entry and annual fees for issuers, to incorporate
references to Managed Fund Shares.
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    \4\ Proposed Nasdaq Rule 4420(o) is substantively identical to
NYSE Arca Equities Rule 8.600. See Securities Exchange Act Release
No. 57619 (April 4, 2008), 73 FR 19544 (April 10, 2008) (SR-
NYSEArca-2008-25) (approving, among other things, listing standards
for Managed Fund Shares).
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    Proposed Listing Rules for Managed Fund Shares Proposed Nasdaq Rule
4420(o)(2)(A) provides that Nasdaq will file separate proposals under
Section 19(b) of the Act before the listing and/or trading of Managed
Fund Shares. Proposed Nasdaq Rule 4420(o)(2)(B) provides that
transactions in Managed Fund Shares will occur throughout Nasdaq's
trading hours.\5\ Proposed Nasdaq Rule 4420(o)(2)(C) provides that the
minimum price variation for quoting and entry of orders in Managed Fund
Shares will be $0.01. Proposed Rule Nasdaq 4420(o)(2)(D) provides that
Nasdaq will implement written surveillance procedures for Managed Fund
Shares. Proposed Nasdaq Rule 4420(o)(2)(E) provides that, for Managed
Fund Shares based on an international or global portfolio, the
statutory prospectus or the application for exemption from provisions
of the Investment Company Act of 1940 (``1940 Act'') for such series of
Managed Fund Shares must state that such series must comply with the
federal securities laws in accepting securities for deposits and
satisfying redemptions with redemption securities, including that the
securities accepted for deposits and the securities used to satisfy
redemption requests are sold in transactions that would be exempt from
registration under the Securities Act of 1933.
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    \5\ See Nasdaq Rule 4120(b)(4) (describing the three trading
sessions on the Exchange: (1) Pre-Market Session from 7 a.m. to 9:30
a.m; (2) Regular Market Session from 9:30 a.m. to 4 p.m. or 4:15
p.m.; and (3) Post-Market Session from 4 p.m. or 4:15 p.m. to 8
p.m.).
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    Proposed Definitions. Proposed Nasdaq Rule 4420(o)(3)(A) defines
the term ``Managed Fund Share'' as a security that: (1) Represents an
interest in a registered investment company (``Investment Company'')
organized as an open-end management investment company or similar
entity, that invests in a portfolio of securities selected by the
Investment Company's investment adviser consistent with the Investment
Company's investment objectives and policies; (2) is issued in a
specified aggregate minimum number in return for a deposit of a
specified portfolio of securities and/or a cash amount with a value
equal to the next determined net asset value (``NAV''); and (3) when
aggregated in the same specified minimum number, may be redeemed at a
holder's request, which holder will be paid a specified portfolio of
securities and/or cash with a value equal to the next determined NAV.
    In addition, proposed Nasdaq Rule 4420(o)(3)(B) defines the term
``Disclosed Portfolio'' as the identities and quantities of the
securities and other assets held by the Investment Company that will
form the basis for the Investment Company's calculation of NAV at the
end of the business day. Proposed Nasdaq Rule 4420(o)(3)(C) defines the
term ``Intraday Indicative Value'' as the estimated indicative value of
a Managed Fund Share based on current information regarding the value
of the securities and other assets in the Disclosed Portfolio. Proposed
Nasdaq Rule 4420(o)(3)(D) defines the term ``Reporting Authority'' as
Nasdaq, an institution, or a reporting service designated by Nasdaq or
by the exchange that lists a particular series of Managed Fund Shares
(if Nasdaq is trading such series pursuant to UTP) as the official
source for calculating and reporting information relating to such
series, including, but not limited to, the Intraday Indicative Value,
the Disclosed Portfolio, the amount of any cash distribution to holders
of Managed Fund Shares, NAV, or other information relating to the
issuance, redemption, or trading of Managed Fund Shares. A series of
Managed Fund Shares may have more than one Reporting Authority, each
having different functions.
    Initial and Continued Listing. Proposed Nasdaq Rule 4420(o)(4) sets
forth the initial and continued listing criteria applicable to Managed
Fund Shares.\6\ Proposed Nasdaq Rule 4420(o)(4)(A)(i) provides that,
for each series of Managed Fund Shares, Nasdaq

will establish a minimum number of Managed Fund Shares required to be
outstanding at the time of commencement of trading. In addition, under
proposed Nasdaq Rule 4420(o)(4)(A)(ii), Nasdaq must obtain a
representation from the issuer of each series of Managed Fund Shares
that the NAV per share for such series will be calculated daily and
that the NAV and the Disclosed Portfolio will be made available to all
market participants at the same time.
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    \6\ The Exchange represented that, for initial and/or continued
listing, Managed Fund Shares must also be in compliance with Rule
10A-3 under the Act. See 17 CFR 240.10A-3. In addition, the Exchange
represented that, with respect to a series of Managed Fund Shares,
the investment adviser and its related personnel are subject to Rule
204A-1 under the Investment Advisers Act of 1940 (``Advisers Act''),
which relates to codes of ethics for investment advisers. See 17 CFR
275.204A-1. Rule 204A-1 requires investment advisers to adopt a code
of ethics that reflects the fiduciary nature of the relationship to
clients as well as compliance with other applicable securities laws.
Accordingly, the Exchange noted that ``firewall'' procedures, as
well as procedures designed to prevent the misuse of non-public
information by an investment adviser, must be consistent with Rule
204A-1 under the Advisers Act. In addition, Rule 206(4)-7 under the
Advisers Act (17 CFR 275.206(4)-7) makes it unlawful for an
investment adviser to provide investment advice to clients, unless
such investment adviser has (i) adopted and implemented written
policies and procedures reasonably designed to prevent violation, by
the investment adviser and its supervised persons, of the Advisers
Act and the rules thereunder; (ii) implemented, at a minimum, an
annual review regarding the adequacy of such policies and procedures
and the effectiveness of their implementation; and (iii) designated
an individual (who is a supervised person) responsible for
administering such policies and procedures. See also Section 204A of
the Advisers Act (15 U.S.C. 80b-4a) (requiring investment advisers
to establish, maintain, and enforce written policies and procedures
reasonably designed to prevent the misuse of material, non-public
information by such investment adviser or any person associated with
such investment adviser).
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    Proposed Nasdaq Rule 4420(o)(4)(B) provides that each series of
Managed Fund Shares will be listed and traded subject to the
application of the following continued listing criteria: (1) The
Intraday Indicative Value for Managed Fund Shares must be widely
disseminated by one or more major market data vendors at least every 15
seconds during the time when the Managed Fund Shares trade on Nasdaq;
(2) the Disclosed Portfolio must be disseminated at least once daily
and made available to all market participants at the same time; and (3)
the Reporting Authority that provides the Disclosed Portfolio must
implement and maintain, or be subject to, procedures designed to
prevent the use and dissemination of material non-public information
regarding the actual components of the portfolio.
    Proposed Nasdaq Rule 4420(o)(4)(B)(iii) provides that Nasdaq will
consider the suspension of trading in, or removal from listing of, a
series of Managed Fund Shares under any of the following circumstances:
(1) If, following the initial twelve-month period after commencement of
trading on the Exchange of a series of Managed Fund Shares, there are
fewer than 50 beneficial holders of the series of Management Fund
Shares for 30 or more consecutive trading days; (2) if the value of the
Intraday Indicative Value is no longer calculated or available or the
Disclosed Portfolio is not made available to all market participants at
the same time; (3) if the Investment Company issuing the Managed Fund
Shares has failed to file any filings required by the Commission or if
Nasdaq is aware that the Investment Company is not in compliance with
the conditions of any exemptive order or no-action relief granted by
the Commission to the Investment Company with respect to the series of
Managed Fund Shares; or (4) if such other event shall occur or
condition exists which, in the opinion of Nasdaq, makes further
dealings on Nasdaq inadvisable.
    Proposed Nasdaq Rule 4420(o)(4)(B)(iv) provides that, if the
Intraday Indicative Value of a series of Managed Fund Shares is not
being disseminated as required, Nasdaq may halt trading during the day
in which the interruption to the dissemination of the Intraday
Indicative Value occurs. If the interruption to the dissemination of
the Intraday Indicative Value persists past the trading day in which it
occurred, Nasdaq will halt trading no later than the beginning of the
trading day following the interruption. If a series of Managed Fund
Shares is trading on Nasdaq pursuant to UTP, Nasdaq will halt trading
in that series, as specified in Nasdaq Rules 4120 and 4121. In
addition, if the Exchange becomes aware that NAV or the Disclosed
Portfolio with respect to a series of Managed Fund Shares is not
disseminated to all market participants at the same time, it will halt
trading in such series until such time as the NAV or the Disclosed
Portfolio is available to all market participants.
    In addition, proposed Nasdaq Rule 4420(o)(4)(B)(v) provides that,
upon termination of an Investment Company, the Managed Fund Shares
issued in connection with such entity must be removed from listing on
Nasdaq. Proposed Nasdaq Rule 4420(o)(4)(B)(vi) provides that voting
rights must be as set forth in the applicable Investment Company
prospectus. Proposed Nasdaq Rule 4420(o)(5) relates to the limitation
of liability of the Exchange in connection with an issuance of a series
of Managed Fund Shares.
    Proposed Nasdaq Rule 4420(o)(6) relates to obligations with respect
to those Managed Fund Shares that receive an exemption from certain
prospectus delivery requirements under Section 24(d) of the 1940 Act.
Lastly, proposed Nasdaq Rule 4420(o)(7) provides that, if the
investment adviser of the Investment Company issuing Managed Fund
Shares is affiliated with a broker-dealer, such investment adviser must
erect a ``firewall'' between such investment adviser and broker-dealer
with respect to access to information regarding the composition and/or
changes to the Investment Company's portfolio. This proposed rule also
requires personnel who make decisions on the Investment Company's
portfolio composition to be subject to procedures designed to prevent
the use and dissemination of material, non-public information regarding
the Investment Company's portfolio.

Other Proposed Rule Changes

    The Exchange also proposes to amend: (1) The introductory paragraph
of Nasdaq Rule 4420 to add a reference to new paragraph (o) thereunder;
(2) Nasdaq Rule 4120(a)(9) and Nasdaq Rule 4120(b)(4)(A) to add
references to Managed Fund Shares with respect to trading halts; \7\
and (3) Nasdaq Rule 4540(a) and (b) to add references to Managed Fund
Shares to those securities already covered under the rule relating to
both entry and annual fees.
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    \7\ Nasdaq also seeks to make an unrelated, minor typographical
change to Nasdaq Rule 4120(b)(4)(A) with respect to the term ``Trust
Issued Receipt.''
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Trading Halts

    Nasdaq will halt trading in Managed Fund Shares under the
conditions specified in Nasdaq Rules 4120 and 4121, as proposed to be
amended, and in proposed Nasdaq Rule 4420(o)(4)(B)(iv), as discussed
above. With respect to trading of Managed Fund Shares pursuant to UTP,
the conditions for a halt include a regulatory halt by the listing
market, and Nasdaq will stop trading Managed Fund Shares if the listing
market delists them. Additionally, Nasdaq may cease trading Managed
Fund Shares if other unusual conditions or circumstances exist which,
in the opinion of Nasdaq, make further dealings on Nasdaq detrimental
to the maintenance of a fair and orderly market.

Trading Rules

    Nasdaq deems Managed Fund Shares to be equity securities, thus
rendering trading in the Managed Fund Shares subject to Nasdaq's
existing rules governing the trading of equity securities. Nasdaq will
allow trading in Managed Fund Shares from 7 a.m. until 8 p.m. Eastern
Time.\8\
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    \8\ See supra note 5.
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Surveillance

    The Exchange intends to utilize its existing surveillance
procedures applicable to derivative products (including exchange-traded
funds) to monitor trading in Managed Fund Shares and represents that
such procedures are adequate to address any concerns regarding the
trading of Managed Fund Shares on Nasdaq. Trading of Managed Fund
Shares on Nasdaq will be subject to surveillance procedures of the
Financial Industry Regulatory Authority (``FINRA'') for equity
securities, in general, and exchange-traded funds, in particular.\9\
The Exchange may also obtain information via the Intermarket
Surveillance Group (``ISG'') from other

exchanges who are members or affiliate members of ISG.
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    \9\ The Exchange stated that FINRA surveils trading on Nasdaq
pursuant to a regulatory services agreement. Nasdaq is responsible
for FINRA's performance under this regulatory services agreement.
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Information Circular

    Prior to the commencement of trading, the Exchange will inform its
members in an Information Circular of the special characteristics and
risks associated with trading Managed Fund Shares. Specifically, the
Information Circular will discuss the following: (1) The procedures for
purchases and redemptions of Managed Fund Shares in Creation Units (and
that Managed Fund Shares are not individually redeemable); (2) Nasdaq
Rule 2310, which imposes suitability obligations on Nasdaq members with
respect to recommending transactions in Managed Fund Shares to
customers; (3) how information regarding the Intraday Indicative Value
is disseminated; (4) the requirement that members deliver a prospectus
to investors purchasing newly issued Managed Fund Shares prior to or
concurrently with the confirmation of a transaction; \10\ (5) the risks
involved in trading Managed Fund Shares during the Pre-Market and Post-
Market Sessions when an updated Intraday Indicative Fund value will not
be calculated or publicly disseminated; (6) any exemptive, no-action,
or interpretive relief granted by the Commission from any rules under
the Act; (7) related fees and expenses; (8) trading hours of the
Managed Fund Shares; (9) NAV calculation and dissemination; and (10)
trading information.
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    \10\ The Exchange further noted that: (1) Investors purchasing
Managed Fund Shares directly from a Fund will receive a prospectus;
and (2) members purchasing Managed Fund Shares from a Fund for
resale to investors will deliver a prospectus to such investors.
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    Additional discussion regarding the key features of Managed Fund
Shares, including the registration requirement under the 1940 Act,
exemptive relief from certain requirements under the 1940 Act, intraday
trading, creations and redemptions, the Disclosed Portfolio, and the
Intraday Indicative Value can be found in the Notice.\11\
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    \11\ See Notice, supra note 3.
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III. Discussion

    After careful consideration, the Commission finds that the proposed
rule change is consistent with the requirements of the Act and the
rules and regulations thereunder applicable to a national securities
exchange.\12\ In particular, the Commission believes that the proposal
is consistent with Section 6(b)(5) of the Act,\13\ which requires,
among other things, that the rules of a national securities exchange be
designed to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and in general, to protect investors and the
public interest. The Commission notes that it has previously approved
substantively identical listing standards for Managed Fund Shares for
other national securities exchanges.\14\
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    \12\ In approving this proposed rule change, the Commission
notes that it has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
    \13\ 15 U.S.C. 78f(b)(5).
    \14\ See Securities Exchange Act Release Nos. 57514 (March 17,
2008), 73 FR 15230 (March 21, 2008) (SR-Amex-2008-02) (approving,
among other things, listing standards for Managed Fund Shares); and
57619 (April 4, 2008), 73 FR 19544 (April 10, 2008) (SR-NYSEArca-
2008-25) (approving, among other things, listing standards for
Managed Fund Shares).
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    The Commission finds that Nasdaq's proposal contains adequate rules
and procedures to govern the listing and trading of Managed Fund Shares
on the Exchange.\15\ Prior to listing and/or trading on the Exchange,
Nasdaq must file a separate proposed rule change pursuant to Section
19(b) of the Act for each series of Managed Fund Shares. All such
securities listed and/or traded under proposed Nasdaq Rule 4420(o) will
be subject to the full panoply of Nasdaq rules and procedures that
currently govern the trading of equity securities on the Exchange.
    For the initial listing of each series of Managed Fund Shares under
proposed Nasdaq Rule 4420(o), the Exchange must establish a minimum
number of Managed Fund Shares required to be outstanding at the
commencement of trading. In addition, the Exchange must obtain a
representation from the issuer of Managed Fund Shares that the NAV per
share will be calculated daily and that the NAV and the Disclosed
Portfolio will be made available to all market participants at the same
time.
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    \15\ The Commission believes that the proposed rules and
procedures are adequate with respect to the Managed Fund Shares.
However, the Commission notes that other proposed series of Managed
Fund Shares may require additional Exchange rules and procedures to
govern their listing and trading on the Exchange. For example, in
the case of a proposed series of Managed Fund Shares that are based
on a portfolio, at least in part, of non-U.S. securities, rules
relating to comprehensive surveillance sharing agreements and
quantitative initial and continued listing standards may be
required.
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    The Commission believes that the proposed continued listing and
trading standards under proposed Nasdaq Rule 4420(o)(4)(B) are adequate
to ensure transparency of key values and information regarding the
securities. For continued listing of each series of Managed Fund
Shares, the Intraday Indicative Value must be widely disseminated by
one or more major market data vendors at least every 15 seconds during
the time when the Managed Fund Shares trade on the Exchange. Further,
the Disclosed Portfolio must be disseminated at least once daily and
made available to all market participants at the same time.
    The Commission finds that the Exchange's rules with respect to
trading halts under proposed Nasdaq Rule 4120(a)(9), proposed Nasdaq
Rule 4120(b)(4)(A), and proposed Nasdaq Rule 4420(o)(4)(B)(iv) should
help ensure the availability of key values and information relating to
Managed Fund Shares. If the Intraday Indicative Value is not being
disseminated as required, the Exchange may halt trading during the day
in which the interruption to the dissemination of the Intraday
Indicative Value occurs. If the interruption of such value persists
past the trading day in which it occurred, the Exchange must halt
trading no later than the beginning of the trading day following the
interruption.\16\ In addition, if the Exchange becomes aware that the
NAV or Disclosed Portfolio related to a series of Managed Fund Shares
is not being disseminated to all market participants at the same time,
the Exchange will halt trading in such series of Managed Fund
Shares.\17\ Finally, Nasdaq may cease trading Managed Fund Shares if
other unusual conditions or circumstances exist which, in the opinion
of Nasdaq, make further dealings on Nasdaq detrimental to the
maintenance of a fair and orderly market.
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    \16\ Under proposed Nasdaq Rule 4420(o)(4)(B)(iv), if a series
of Managed Fund Shares is trading on the Exchange pursuant to
unlisted trading privileges, the Exchange will halt trading in that
series, as specified in Nasdaq Rules 4120, as proposed to be
amended, and 4121. See Nasdaq Rules 4120 and 4121 (setting forth
rules regarding trading halts for certain derivative securities
products).
    \17\ The Exchange may resume trading in such series of Managed
Fund Shares only when the NAV or Disclosed Portfolio is disseminated
to all market participants. See proposed Nasdaq Rule
4420(o)(4)(B)(iv).
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    The Exchange may also consider the suspension of trading in, or
removal from listing of, a series of Managed Fund Shares if: (1)
Following the initial twelve-month period after commencement of trading
on the Exchange of a series of Managed Fund Shares, there are fewer
than 50 beneficial holders of the series of the Managed Fund Shares for
30 or more consecutive trading days; (2) the value of the Portfolio
Indicative Value is no longer calculated or available, or the Disclosed
Portfolio is not made available to all market participants at the same
time; (3) the Investment

Company issuing the Managed Fund Shares has failed to file any required
filings with the Commission, or if the Exchange becomes aware that the
Investment Company is not in compliance with the conditions of any
exemptive order or no-action relief granted by the Commission to the
Investment Company with respect to the series of Managed Fund Shares;
or (4) such other event shall occur or condition exists which, in the
opinion of the Exchange, makes further dealings of the Managed Fund
Shares on the Exchange inadvisable.
    The Commission believes that the requirements of proposed Nasdaq
Rule 4420(o) should help to prevent trading when a reasonable degree of
transparency cannot be assured and to maintain a fair and orderly
market for Managed Fund Shares. The Commission also believes that the
proposed listing and trading rules for Managed Fund Shares, many of
which track existing Exchange rules relating to exchange-traded funds,
are reasonably designed to promote a fair and orderly market for such
Managed Fund Shares. Specifically, proposed Nasdaq Rule 4420(o)(7)
requires that: (1) If the investment adviser of the Investment Company
is affiliated with a broker-dealer, such investment adviser must erect
a ``firewall'' between such investment adviser and broker-dealer with
respect to access to information regarding the composition and/or
changes to the Investment Company's portfolio; and (2) personnel who
make decisions on the Investment Company's portfolio composition must
be subject to procedures designed to prevent the use and dissemination
of material non-public information regarding the Investment Company's
portfolio.\18\ In addition, proposed Nasdaq Rule 4420(o)(4)(B)(ii)(b)
requires that the Reporting Authority that provides the Disclosed
Portfolio implement and maintain, or be subject to, procedures designed
to prevent the use and dissemination of material, non-public
information regarding the actual components of the portfolio. The
proposed rules also require surveillance procedures,\19\ establish
trading guidelines,\20\ and impose other requirements.\21\
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    \18\ See supra note 6.
    \19\ See proposed Nasdaq Rule 4420(o)(2)(D) (providing that the
Exchange will implement written surveillance procedures for Managed
Fund Shares).
    \20\ See proposed Nasdaq Rule 4420(o)(2)(B) and (C) (providing
that transactions in Managed Fund Shares will occur throughout
Nasdaq's trading hours and that the minimum price variation for
quoting and entry of orders in Managed Fund Shares must be $0.01).
See also supra note 5.
    \21\ See e.g., proposed Nasdaq Rule 4420(o)(2)(E) (requiring
certain statutory prospectuses for an issue of Managed Fund Shares
based on an international or global portfolio to make certain
specific statements regarding creations and redemptions); proposed
Nasdaq Rule 4420(o)(4)(B)(v) (requiring, upon termination of an
Investment Company, the Managed Fund Shares issued in connection
with such Investment Company to be removed from listing on the
Exchange); proposed Nasdaq Rule 4420(o)(4)(B)(vi) (providing that
the voting rights will be as set forth in the applicable Investment
Company prospectus); and proposed Nasdaq Rule 4420(o)(6) (requiring
certain disclosures to be made in the case of a series of Managed
Fund Shares that are subject of an order by the Commission exempting
such securities from certain prospectus delivery requirements under
Section 24(d) of the 1940 Act and are not otherwise subject to
prospectus delivery requirements under the Securities Act of 1933).
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Conforming Changes and Listing Fees

    Trading in Managed Fund Shares will be halted as provided in Nasdaq
Rule 4120(a)(9), as proposed to be amended. In addition, Managed Fund
Shares will be included under the term ``Derivative Securities
Product,'' as defined in Nasdaq Rule 4120(b)(4)(A), in connection with
trading halts for trading pursuant to UTP on the Exchange. The
Commission also notes that Managed Fund Shares will be included in
Nasdaq Rules 4540(a) and (b), and, as a result, the Exchange's listing
fees will be applicable to a series of Managed Fund Shares. The
Commission finds that the conforming changes made to the Exchange's
rules, including those governing trading halts and listing fees, are
reasonable and promote transparency of the rules to be imposed with
respect to a series of Managed Fund Shares listed and traded on the
Exchange.

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\22\ that the proposed rule change (SR-NASDAQ-2008-039), as
modified by Amendment No. 1 thereto, be, and it hereby is, approved.
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    \22\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
Florence E. Harmon,
Acting Secretary.
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    \23\ See 17 CFR 200.30-3(a)(12).
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[FR Doc. E8-13914 Filed 6-19-08; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 79, Number 156 (Wednesday, August 13, 2014)]
[Notices]
[Pages 47454-47456]
[FR Doc No: 2014-18961]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2009-1017; FRL-9914-00]

Product Cancellation Order for Certain Pesticide Registrations

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: This notice announces EPA's order for the cancellations,
voluntarily requested by the registrants and accepted by the Agency, of
the products listed in Table 1 of Unit II., pursuant to the Federal
Insecticide, Fungicide, and Rodenticide Act (FIFRA). This cancellation
order follows a June 4, 2014 Federal Register Notice of Receipt of
Requests from the registrants listed in Table 2 of Unit II. to
voluntarily cancel these product registrations. In the June 4, 2014
Federal Register notice, EPA indicated that it would issue an order
implementing the cancellations, unless the Agency received substantive
comments within the 30-day comment period that would merit its further
review of these requests, or unless the registrants withdrew their
requests. The Agency did not receive any comments on the June 4, 2014
Federal Register notice. Further, the registrants did not withdraw
their requests. Accordingly, EPA hereby issues in this notice a
cancellation order granting the requested cancellations. Any
distribution, sale, or use of the products subject to this cancellation
order is

permitted only in accordance with the terms of this order, including
any existing stocks provisions.

DATES: The cancellations are effective August 13, 2014.

FOR FURTHER INFORMATION CONTACT: John W. Pates, Jr., Pesticide Re-
Evaluation Division (7508P), Office of Pesticide Programs,
Environmental Protection Agency, 1200 Pennsylvania Ave. NW.,
Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>; email
address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this action apply to me?

    This action is directed to the public in general, and may be of
interest to a wide range of stakeholders including environmental, human
health, and agricultural advocates; the chemical industry; pesticide
users; and members of the public interested in the sale, distribution,
or use of pesticides. Since others also may be interested, the Agency
has not attempted to describe all the specific entities that may be
affected by this action.

B. How can I get copies of this document and other related information?

    The docket for this action, identified by docket identification
(ID) number EPA-HQ-OPP-2009-1017, is available at http://www.regulations.gov or at the Office of Pesticide Programs Regulatory
Public Docket (OPP Docket) in the Environmental Protection Agency
Docket Center (EPA/DC), West William Jefferson Clinton Bldg., Rm. 3334,
1301 Constitution Ave. NW., Washington, DC 20460-0001. The Public
Reading Room is open from 8:30 a.m. to 4:30 p.m., Monday through
Friday, excluding legal holidays. The telephone number for the Public
Reading Room is<PHONE_NUMBER>, and the telephone number for the OPP
Docket is<PHONE_NUMBER>. Please review the visitor instructions and
additional information about the docket available at http://www.epa.gov/dockets.

II. What action is the agency taking?

    This notice announces the cancellation, as requested by
registrants, of products registered under FIFRA section 3. These
registrations are listed in sequence by registration number in Table 1
of this unit.

                     Table 1--Product Cancellations
------------------------------------------------------------------------
     EPA Registration No.           Product name        Chemical name
------------------------------------------------------------------------
000100-00867..................  Barricade F          Prodiamine.
                                 Herbicide.
000100-00879..................  Barricade G          Prodiamine.
                                 Herbicide.
000432-00799..................  AquaPy.............  Piperonyl butoxide
                                                      and pyrethrins (No
                                                      inert use).
000464-00664..................  Bioban CS-40L        4,4-
                                 Preservative.        Dimethyloxazolidin
                                                      e.
001448-00371..................  Busan 1020L........  Metam-sodium.
004713-00004..................  Kenya Pyrethrum      Pyrethrins (No
                                 Extract Crude        inert use).
                                 Concentrate A.
007969-00057..................  Ronilan              Vinclozolin.
                                 Manufacturer's
                                 Concentrate.
007969-00085..................  Ronilan EG           Vinclozolin.
                                 Fungicide.
007969-00224..................  Curalan EG           Vinclozolin.
                                 Fungicide.
011603-00035..................  Bromotril Technical  Bromoxynil
                                                      octanoate.
011603-00036..................  Agan Bromoxynil      Bromoxynil
                                 Technical.           octanoate.
011603-00048..................  Nicosulfuron         Nicosulfuron.
                                 Technical.
019713-00299..................  Drexel Sanitizit...  Phosphoric acid and
                                                      dodecylbenzenesulf
                                                      onic acid.
040849-00056..................  Enforcer Flea        MGK 264, pyrethrins
                                 Fogger XX.           (No inert use),
                                                      pyriproxyfen, and
                                                      permethrin.
046386-00002..................  Prometrex Technical  Prometryn.
053883-00241..................  CSI Wipe & Spray     Stabilene,
                                 Insecticide.         pyrethrins (No
                                                      inert use), and
                                                      piperonyl
                                                      butoxide.
072159-00002..................  ImidaPro 2SC         Imidacloprid.
                                 Systemic
                                 Insecticide.
073801-00002..................  Permethrin           Permethrin.
                                 Technical.
------------------------------------------------------------------------

    Table 2 of this unit includes the names and addresses of record for
all registrants of the products in Table 1 of this unit, in sequence by
EPA company number. This number corresponds to the first part of the
EPA registration numbers of the products listed in Table 1 of this
unit.

               Table 2--Registrants of Cancelled Products
------------------------------------------------------------------------
          EPA company No.                 Company name and address
------------------------------------------------------------------------
100...............................  Syngenta Crop Protection, LLC, 410
                                     Swing Rd., P.O. Box 18300,
                                     Greensboro, NC 27419-8300
432...............................  Bayer Environmental Science, A
                                     Division of Bayer, CropScience LP,
                                     2 T.W. Alexander Dr., P.O. Box
                                     12014, Research Triangle Park, NC
                                     27709
464...............................  The Dow Chemical Co., Agent: The Dow
                                     Chemical Company, 100 Larkin
                                     Center, 1650 Joseph Dr., Midland,
                                     MI 48674
1448..............................  Buckman Laboratories, Inc., 1256
                                     North McLean Blvd., Memphis, TN
                                     38108
4713..............................  Pyrethrum Board of Kenya, Agent:
                                     Regwest Company, LLC, 8203 West
                                     20th St., Suite A, Greeley, CO
                                     80634-4696
7969..............................  BASF Corporation, Agricultural
                                     Products, 26 Davis Dr., P.O. Box
                                     13528, Research Triangle Park, NC
                                     27709-3528
11603.............................  Agan Chemical Manufacturing, LTD,
                                     Agent: Makhteshim-Agan of North
                                     America, Inc., 3120 Highwoods
                                     Blvd., Suite 100, Raleigh, NC 27604
19713.............................  Drexel Chemical Company, P.O. Box
                                     13327, Memphis, TN 38113-0327
40849.............................  ZEP Commercial Sales & Service, A
                                     Unit of Zep, Inc., Agent:
                                     Compliance Services, 1259 Seaboard
                                     Industrial Blvd., NW, Atlanta, GA
                                     30318
46386.............................  Verolit Chemical, Manufacturers,
                                     LTD, Agent: Makhteshim-Agan of
                                     North America, Inc., 3120 Highwoods
                                     Blvd., Suite 100, Raleigh, NC 27604
53883.............................  Control Solutions, Inc., 5903 Genoa-
                                     Red Bluff Rd., Pasadena, TX 77507-
                                     1041
72159.............................  Agrisel USA, Inc., Agent: Biologic,
                                     Inc., 115 Obtuse Hill Rd.,
                                     Brookfield, CT 06804

73801.............................  Tagros Chemicals India, LTD, Agent:
                                     Biologic, Inc., 115 Obtuse Hill
                                     Rd., Brookfield, CT 06804
------------------------------------------------------------------------

III. Summary of Public Comments Received and Agency Response to
Comments

    During the public comment period provided, EPA received no comments
in response to the June 4, 2014 Federal Register notice announcing the
Agency's receipt of the requests for voluntary cancellations of
products listed in Table 1 of Unit II.

IV. Cancellation Order

    Pursuant to FIFRA section 6(f), EPA hereby approves the requested
cancellations of the registrations identified in Table 1 of Unit II.
Accordingly, the Agency hereby orders that the product registrations
identified in Table 1 of Unit II. are canceled. The effective date of
the cancellations that are the subject of this notice is August 13,
2014. Any distribution, sale, or use of existing stocks of the products
identified in Table 1 of Unit II. in a manner inconsistent with any of
the provisions for disposition of existing stocks set forth in Unit VI.
will be a violation of FIFRA.

V. What is the Agency's authority for taking this action?

    Section 6(f)(1) of FIFRA provides that a registrant of a pesticide
product may at any time request that any of its pesticide registrations
be canceled or amended to terminate one or more uses. FIFRA further
provides that, before acting on the request, EPA must publish a notice
of receipt of any such request in the Federal Register. Thereafter,
following the public comment period, the EPA Administrator may approve
such a request. The notice of receipt for this action was published for
comment in the Federal Register of June 4, 2014 (79 FR 32288) (FRL-
9910-97). The comment period closed on July 7, 2014.

VI. Provisions for Disposition of Existing Stocks

    Existing stocks are those stocks of registered pesticide products
which are currently in the United States and which were packaged,
labeled, and released for shipment prior to the effective date of the
cancellation action. The existing stocks provisions for the products
subject to this order are as follows.

A. For Products<PHONE_NUMBER>4,<PHONE_NUMBER>8, and<PHONE_NUMBER>1

    The registrants have indicated to the Agency via written response
that there are no existing stocks of technical or end use products.
Therefore, no existing stocks date is necessary. Registrants are
prohibited from selling or distributing the pesticides identified in
Table 1 of Unit II., except for export consistent with FIFRA section 17
or for proper disposal. Persons other than the registrants may sell,
distribute, or use existing stocks of products listed in Table 1 of
Unit II. until existing stocks are exhausted, provided that such sale,
distribution, or use is consistent with the terms of the previously
approved labeling on, or that accompanied, the canceled products.

B. For Products<PHONE_NUMBER>7,<PHONE_NUMBER>5, and<PHONE_NUMBER>4

    The registrant has indicated to the Agency via letter that all
registrations for the active ingredient vinclozolin will be phased out.
Because the Agency has identified no significant potential risk
concerns associated with these pesticide products, EPA is allowing
registrants to sell and distribute existing stocks of these products
until December 31, 2016. Thereafter, registrants, and persons other
than registrants, are prohibited from selling or distributing existing
stocks of products containing vinclozolin identified in Table 1 of Unit
II., except for export consistent with FIFRA section 17 or for proper
disposal. Existing stocks of products containing vinclozolin already in
the hands of users can be used legally until such stocks are exhausted,
provided that the use is consistent with the terms of the previously
approved labeling on, or that accompanied, the cancelled products.

C. For All Other Products Identified in Table 1 of Unit II.

    Registrants may continue to sell and distribute existing stocks of
products listed in Table 1 of Unit II. until August 13, 2015, which is
1 year after the publication of the Cancellation Order in the Federal
Register. Thereafter, registrants are prohibited from selling or
distributing the pesticides listed in Table 1 of Unit II., except for
export consistent with FIFRA section 17 or for proper disposal. Persons
other than registrants may sell, distribute, or use existing stocks of
products listed in Table 1 of Unit II. until such stocks are exhausted,
provided that such sale, distribution, or use is consistent with the
terms of the previously approved labeling on, or that accompanied, the
canceled products.

List of Subjects

    Environmental protection, Pesticides and pests.

    Dated: July 29, 2014.
Richard P. Keigwin, Jr.,
Director, Pesticide Re-Evaluation Division, Office of Pesticide
Programs.
[FR Doc. 2014-18961 Filed 8-12-14; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 86, Number 37 (Friday, February 26, 2021)]
[Proposed Rules]
[Pages 11664-11667]
[FR Doc No: 2021-03866]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2021-0125; Project Identifier MCAI-2020-01366-T]
RIN 2120-AA64

Airworthiness Directives; Airbus SAS Airplanes

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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

SUMMARY: The FAA proposes to adopt a new airworthiness directive (AD)
for certain Airbus SAS Model A350-941 and -1041 airplanes. This
proposed AD was prompted by a determination that new or more
restrictive airworthiness limitations are necessary. This proposed AD
would require revising the existing maintenance or inspection program,
as applicable, to incorporate new or more restrictive airworthiness
limitations, as specified in a European Union Aviation Safety Agency
(EASA) AD, which is proposed for incorporation by reference. The FAA is
proposing this AD to address the unsafe condition on these products.

DATES: The FAA must receive comments on this proposed AD by April 12,
2021.

ADDRESSES: You may send comments, using the procedures found in 14 CFR
11.43 and 11.45, by any of the following methods:
     Federal eRulemaking Portal: Go to https://www.regulations.gov. Follow the instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE, Washington, DC 20590.
     Hand Delivery: Deliver to Mail address above between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays.
    For material that will be incorporated by reference (IBR) in this
AD, contact the EASA, Konrad-Adenauer-Ufer 3, 50668 Cologne, Germany;
telephone +49 221 8999 000; email<EMAIL_ADDRESS>internet
www.easa.europa.eu. You may find this IBR material on the EASA website
at https://ad.easa.europa.eu. You may view this IBR material at the
FAA, Airworthiness Products Section, Operational Safety Branch, 2200
South 216th St., Des Moines, WA. For information on the availability of
this material at the FAA, call<PHONE_NUMBER>.

It is also available in the AD docket on the internet at https://www.regulations.gov by searching for and locating Docket No. FAA-2021-
0125.

Examining the AD Docket

    You may examine the AD docket on the internet at https://www.regulations.gov by searching for and locating Docket No. FAA-2021-
0125; or in person at Docket Operations between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays. The AD docket contains
this NPRM, any comments received, and other information. The street
address for Docket Operations is listed above.

FOR FURTHER INFORMATION CONTACT: Kathleen Arrigotti, Aerospace
Engineer, Large Aircraft Section, International Validation Branch, FAA,
2200 South 216th St., Des Moines, WA 98198; telephone and fax 206-231-
3218; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Comments Invited

    The FAA invites you to send any written relevant data, views, or
arguments about this proposal. Send your comments to an address listed
under ADDRESSES. Include ``Docket No. FAA-2021-0125; Project Identifier
MCAI-2020-01366-T'' at the beginning of your comments. The most helpful
comments reference a specific portion of the proposal, explain the
reason for any recommended change, and include supporting data. The FAA
will consider all comments received by the closing date and may amend
the proposal because of those comments.
    Except for Confidential Business Information (CBI) as described in
the following paragraph, and other information as described in 14 CFR
11.35, the FAA will post all comments received, without change, to
https://www.regulations.gov, including any personal information you
provide. The agency will also post a report summarizing each
substantive verbal contact received about this proposed AD.

Confidential Business Information

    CBI is commercial or financial information that is both customarily
and actually treated as private by its owner. Under the Freedom of
Information Act (FOIA) (5 U.S.C. 552), CBI is exempt from public
disclosure. If your comments responsive to this NPRM contain commercial
or financial information that is customarily treated as private, that
you actually treat as private, and that is relevant or responsive to
this NPRM, it is important that you clearly designate the submitted
comments as CBI. Please mark each page of your submission containing
CBI as ``PROPIN.'' The FAA will treat such marked submissions as
confidential under the FOIA, and they will not be placed in the public
docket of this NPRM. Submissions containing CBI should be sent to
Kathleen Arrigotti, Aerospace Engineer, Large Aircraft Section,
International Validation Branch, FAA, 2200 South 216th St., Des Moines,
WA 98198; telephone and fax<PHONE_NUMBER>; email
<EMAIL_ADDRESS>Any commentary that the FAA receives which
is not specifically designated as CBI will be placed in the public
docket for this rulemaking.

Discussion

    The EASA, which is the Technical Agent for the Member States of the
European Union, has issued EASA AD 2020-0210, dated October 5, 2020
(EASA AD 2020-0210) (also referred to as the Mandatory Continuing
Airworthiness Information, or the MCAI), to correct an unsafe condition
for all Airbus SAS Model A350-941 and -1041 airplanes. EASA AD 2020-
0210 refers to Airbus A350 Airworthiness Limitations Section (ALS) Part
2, Revision 06, dated May 29, 2020. Airplanes with an original
airworthiness certificate or original export certificate of
airworthiness issued after May 29, 2020, must comply with the
airworthiness limitations specified as part of the approved type design
and referenced on the type certificate data sheet; this AD therefore
does not include those airplanes in the applicability.
    This proposed AD was prompted by a determination that new or more
restrictive airworthiness limitations are necessary. The FAA is
proposing this AD to address reduced structural integrity of the
airplane. See the MCAI for additional background information.

Related Service Information Under 1 CFR Part 51

    EASA AD 2020-0210 describes new or more restrictive airworthiness
limitations for airplane structures and safe life limits. This material
is reasonably available because the interested parties have access to
it through their normal course of business or by the means identified
in the ADDRESSES section.

FAA's Determination and Requirements of This Proposed AD

    This product has been approved by the aviation authority of another
country, and is approved for operation in the United States. Pursuant
to the FAA's bilateral agreement with the State of Design Authority,
the FAA has been notified of the unsafe condition described in the MCAI
referenced above. The FAA is proposing this AD because the FAA has
evaluated all pertinent information and determined an unsafe condition
exists and is likely to exist or develop on other products of the same
type design.

Proposed AD Requirements

    This proposed AD would require revising the existing maintenance or
inspection program, as applicable, to incorporate new or more
restrictive airworthiness limitations, which are specified in EASA AD
2020-0210 described previously, as incorporated by reference. Any
differences with EASA AD 2020-0210 are identified as exceptions in the
regulatory text of this AD.
    This proposed AD would require revisions to certain operator
maintenance documents to include new actions (e.g., inspections).
Compliance with these actions is required by 14 CFR 91.403(c). For
airplanes that have been previously modified, altered, or repaired in
the areas addressed by this proposed AD, the operator may not be able
to accomplish the actions described in the revisions. In this
situation, to comply with 14 CFR 91.403(c), the operator must request
approval for an alternative method of compliance according to paragraph
(j)(1) of this proposed AD.

Explanation of Required Compliance Information

    In the FAA's ongoing efforts to improve the efficiency of the AD
process, the FAA initially worked with Airbus and EASA to develop a
process to use certain EASA ADs as the primary source of information
for compliance with requirements for corresponding FAA ADs. The FAA has
since coordinated with other manufacturers and civil aviation
authorities (CAAs) to use this process. As a result, EASA AD 2020-0210
will be incorporated by reference in the FAA final rule. This proposed
AD would, therefore, require compliance with EASA AD 2020-0210 in its
entirety, through that incorporation, except for any differences
identified as exceptions in the regulatory text of this proposed AD.
Using common terms that are the same as the heading of a particular
section in the EASA AD does not mean that operators need comply only
with that section. For example, where the AD requirement refers to
``all required actions and compliance times,'' compliance with this AD
requirement is

not limited to the section titled ``Required Action(s) and Compliance
Time(s)'' in the EASA AD.
    Service information specified in EASA AD 2020-0210 that is required
for compliance with EASA AD 2020-0210 will be available on the internet
at https://www.regulations.gov by searching for and locating Docket No.
FAA-2021-0125 after the FAA final rule is published.

Airworthiness Limitation ADs Using the New Process

    The FAA's process of incorporating by reference MCAI ADs as the
primary source of information for compliance with corresponding FAA ADs
has been limited to certain MCAI ADs (primarily those with service
bulletins as the primary source of information for accomplishing the
actions required by the FAA AD). However, the FAA is now expanding the
process to include MCAI ADs that require a change to airworthiness
limitation documents, such as airworthiness limitation sections.
    For these ADs that incorporate by reference an MCAI AD that changes
airworthiness limitations, the FAA requirements are unchanged.
Operators must revise the existing maintenance or inspection program,
as applicable, to incorporate the information specified in the new
airworthiness limitation document. The airworthiness limitations must
be followed according to 14 CFR 91.403(c) and 91.409(e).
    The previous format of the airworthiness limitation ADs included a
paragraph that specified that no alternative actions (e.g.,
inspections), or intervals, may be used unless the actions and
intervals are approved as an alternative method of compliance (AMOC) in
accordance with the procedures specified in the AMOCs paragraph under
``Other FAA Provisions.'' This new format includes a ``Provisions for
Alternative Actions and Intervals'' paragraph that does not
specifically refer to AMOCs, but operators may still request an AMOC to
use an alternative action or interval.

Costs of Compliance

    The FAA estimates that this proposed AD affects 15 airplanes of
U.S. registry. The FAA estimates the following costs to comply with
this proposed AD:
    The FAA has determined that revising the existing maintenance or
inspection program takes an average of 90 work-hours per operator,
although the agency recognizes that this number may vary from operator
to operator. Since operators incorporate maintenance or inspection
program changes for their affected fleet(s), the FAA has determined
that a per-operator estimate is more accurate than a per-airplane
estimate. Therefore, the agency estimates the average total cost per
operator to be $7,650 (90 work-hours x $85 per work-hour).

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. Subtitle VII: Aviation Programs,
describes in more detail the scope of the Agency's authority.
    The FAA is issuing this rulemaking under the authority described in
Subtitle VII, Part A, Subpart III, Section 44701: General requirements.
Under that section, Congress charges the FAA with promoting safe flight
of civil aircraft in air commerce by prescribing regulations for
practices, methods, and procedures the Administrator finds necessary
for safety in air commerce. This regulation is within the scope of that
authority because it addresses an unsafe condition that is likely to
exist or develop on products identified in this rulemaking action.

Regulatory Findings

    The FAA has determined that this proposed AD would not have
federalism implications under Executive Order 13132. This proposed AD
would not have a substantial direct effect on the States, on the
relationship between the national Government and the States, or on the
distribution of power and responsibilities among the various levels of
government.
    For the reasons discussed above, I certify this proposed
regulation:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866,
    (2) Would not affect intrastate aviation in Alaska, and
    (3) Would not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

The Proposed Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA proposes to amend 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

0
1. The authority citation for part 39 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13  [Amended]

0
2. The FAA amends Sec.  39.13 by adding the following new airworthiness
directive:

Airbus SAS: Docket No. FAA-2021-0125; Project Identifier MCAI-2020-
01366-T.

(a) Comments Due Date

    The FAA must receive comments on this airworthiness directive
(AD) action by April 12, 2021.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to Airbus SAS Model A350-941 and -1041
airplanes, certificated in any category, with an original
airworthiness certificate or original export certificate of
airworthiness issued on or before May 29, 2020.

(d) Subject

    Air Transport Association (ATA) of America Code 05, Time Limits/
Maintenance Checks.

(e) Reason

    This AD was prompted by a determination that new or more
restrictive airworthiness limitations are necessary. The FAA is
issuing this AD to address reduced structural integrity of the
airplane.

(f) Compliance

    Comply with this AD within the compliance times specified,
unless already done.

(g) Requirements

    Except as specified in paragraph (h) of this AD: Comply with all
required actions and compliance times specified in, and in
accordance with, European Union Aviation Safety Agency (EASA) AD
2020-0210, dated October 5, 2020 (EASA AD 2020-0210).

(h) Exceptions to EASA AD 2020-0210

    (1) Where EASA AD 2020-0210 refers to its effective date, this
AD requires using the effective date of this AD.
    (2) The requirements specified in paragraphs (1) and (2) of EASA
AD 2020-0210 do not apply to this AD.
    (3) Paragraph (3) of EASA AD 2020-0210 specifies revising ``the
approved AMP'' within 12 months after its effective date, but this
AD requires revising the existing maintenance or inspection program,
as applicable, within 90 days after the effective date of this AD.
    (4) The initial compliance time for doing the tasks specified in
paragraph (3) of EASA 2020-0210 is at the applicable ``thresholds''
as incorporated by the requirements of paragraph (3) of EASA AD
2020-0210, or within 90 days after the effective date of this AD,
whichever occurs later.

    (5) The provisions specified in paragraphs (4) and (5) of EASA
AD 2020-0210 do not apply to this AD.
    (6) The ``Remarks'' section of EASA AD 2020-0210 does not apply
to this AD.

(i) Provisions for Alternative Actions or Intervals

    After the existing maintenance or inspection program has been
revised as required by paragraph (g) of this AD, no alternative
actions (e.g., inspections) or intervals are allowed unless they are
approved as specified in the provisions of the ``Ref. Publications''
section of EASA AD 2020-0210.

(j) Other FAA AD Provisions

    The following provisions also apply to this AD:
    (1) Alternative Methods of Compliance (AMOCs): The Manager,
Large Aircraft Section, International Validation Branch, FAA, has
the authority to approve AMOCs for this AD, if requested using the
procedures found in 14 CFR 39.19. In accordance with 14 CFR 39.19,
send your request to your principal inspector or local Flight
Standards District Office, as appropriate. If sending information
directly to the Large Aircraft Section, International Validation
Branch, send it to the attention of the person identified in
paragraph (k)(2) of this AD. Information may be emailed to<EMAIL_ADDRESS>Before using any approved AMOC, notify your
appropriate principal inspector, or lacking a principal inspector,
the manager of the responsible Flight Standards Office.
    (2) Contacting the Manufacturer: For any requirement in this AD
to obtain instructions from a manufacturer, the instructions must be
accomplished using a method approved by the Manager, Large Aircraft
Section, International Validation Branch, FAA; or EASA; or Airbus
SAS's EASA Design Organization Approval (DOA). If approved by the
DOA, the approval must include the DOA-authorized signature.
    (3) Required for Compliance (RC): Except as required by
paragraph (j)(2) of this AD, if any service information contains
procedures or tests that are identified as RC, those procedures and
tests must be done to comply with this AD; any procedures or tests
that are not identified as RC are recommended. Those procedures and
tests that are not identified as RC may be deviated from using
accepted methods in accordance with the operator's maintenance or
inspection program without obtaining approval of an AMOC, provided
the procedures and tests identified as RC can be done and the
airplane can be put back in an airworthy condition. Any
substitutions or changes to procedures or tests identified as RC
require approval of an AMOC.

(k) Related Information

    (1) For information about EASA AD 2020-0210, contact the EASA,
Konrad-Adenauer-Ufer 3, 50668 Cologne, Germany; telephone +49 221
8999 000; email<EMAIL_ADDRESS>internet www.easa.europa.eu. You
may find this EASA AD on the EASA website at https://ad.easa.europa.eu. You may view this material at the FAA,
Airworthiness Products Section, Operational Safety Branch, 2200
South 216th St., Des Moines, WA. For information on the availability
of this material at the FAA, call<PHONE_NUMBER>. This material may be
found in the AD docket on the internet at https://www.regulations.gov by searching for and locating Docket No. FAA-
2021-0125.
    (2) For more information about this AD, contact Kathleen
Arrigotti, Aerospace Engineer, Large Aircraft Section, International
Validation Branch, FAA, 2200 South 216th St., Des Moines, WA 98198;
telephone and fax<PHONE_NUMBER>; email<EMAIL_ADDRESS>
    Issued on February 19, 2021.
Lance T. Gant,
Director, Compliance & Airworthiness Division, Aircraft Certification
Service.
[FR Doc. 2021-03866 Filed 2-25-21; 8:45 am]
BILLING CODE 4910-13-P


Comment Info: =================

General Comment:I am 75 years old and a lifetime smoker. Two and a half years ago i tried an "e cigarette " and have not smoked since. The benefits of this transition are numerous: I don't cough. I breath better. I feel better. There is much less stress in my life. My wife and kids are happier.

I hope that in your deliberations you do not overlook the benefits!

Please extend your review period to 180 days.


[Federal Register: January 5, 2010 (Volume 75, Number 2)]
[Notices]
[Page 351]
[DOCID:fr05ja10-44]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 13575-000]

FFP Qualified Hydro 21 LLC; Notice of Preliminary Permit
Application Accepted for Filing and Soliciting Comments, Motions To
Intervene, and Competing Applications

December 29, 2009.
    On September 4, 2009, FFP Qualified Hydro 21 LLC filed an
application for a preliminary permit, pursuant to section 4(f) of the
Federal Power Act, proposing to study the feasibility of the Kentucky
River Lock and Dam No. 1 Hydroelectric Project, located on the Kentucky
River, in Carroll County, Kentucky. The sole purpose of a preliminary
permit, if issued, is to grant the permit holder priority to file a
license application during the permit term. A preliminary permit does
not authorize the permit holder to perform any land disturbing
activities or otherwise enter upon lands or waters owned by others
without the owners' express permission.
    The proposed project would consist of the following:
    (1) A 100-ft by 200-ft long power canal; (2) a newly excavated 125-
ft by 200-ft tailrace; (3) a 30-ft by 60-ft control building; (4) a new
5 MVA substation; (5) a 2,500-ft long transmission line; and (6)
appurtenant facilities. The proposed Kentucky River Lock and Dam No. 1
Hydroelectric Project would have an average annual generation of 20
gigawatt-hours.
    Applicant Contact: Ramya Swaminathan, Free Flow Power Corporation,
33 Commercial Street, Gloucester, MA 01930.
    FERC Contact: Allyson Conner,<PHONE_NUMBER>.
    Deadline for filing comments, motions to intervene, competing
applications (without notices of intent), or notices of intent to file
competing applications: 60 days from the issuance of this notice.
Comments, motions to intervene, notices of intent, and competing
applications may be filed electronically via the Internet. See 18 CFR
385.2001(a)(1)(iii) and the instructions on the Commission's Web site
(http://www.ferc.gov/docs-filing/ferconline.asp) under the ``eFiling''
link. For a simpler method of submitting text only comments, click on
``Quick Comment.'' For assistance, please contact FERC Online Support
at<EMAIL_ADDRESS>call toll-free at<PHONE_NUMBER>; or,
for TTY, contact<PHONE_NUMBER>. Although the Commission strongly
encourages electronic filing, documents may also be paper-filed. To
paper-file, mail an original and eight copies to: Kimberly D. Bose,
Secretary, Federal Energy Regulatory Commission, 888 First Street, NE.,
Washington, DC 20426.
    More information about this project, including a copy of the
application, can be viewed or printed on the ``eLibrary'' link of
Commission's Web site at http://www.ferc.gov/docs-filing/elibrary.asp.
Enter the docket number (P-13575-000) in the docket number field to
access the document. For assistance, contact FERC Online Support.

Kimberly D. Bose,
Secretary.
[FR Doc. E9-31325 Filed 1-4-10; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 64 (Friday, April 3, 2015)]
[Notices]
[Pages 18233-18234]
[FR Doc No: 2015-07776]

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ENVIRONMENTAL PROTECTION AGENCY

[FRL-9925-74-OECA]

National Environmental Justice Advisory Council; Notification of
Public Teleconference Meeting and Public Comment

AGENCY: Environmental Protection Agency.

ACTION: Notification of public teleconference meeting and public
comment.

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SUMMARY: Pursuant to the Federal Advisory Committee Act (FACA), Public
Law 92-463, the U.S. Environmental Protection Agency (EPA) hereby
provides notice that the National Environmental Justice Advisory
Council (NEJAC) will host a public teleconference meeting on Wednesday,
April 22, 2015, from 2:00 p.m. to 4:00 p.m. Eastern Time. The primary
discussion will focus on letters regarding the following topics: (1)
Refinery Rule; (2) Clean Power Rule and (3) Title VI.
    There will be a public comment period from 3:30 p.m. to 4:00 p.m.
Eastern Time. Members of the public are encouraged to provide comments
relevant to the topics of the meeting.
    For additional information about registering to attend the meeting
or to provide public comment, please see the ``REGISTRATION'' and
SUPPLEMENTARY INFORMATION sections below. Due to a limited number of
telephone lines, attendance will be on a first-come, first served
basis. Pre-registration is required. Registration for the
teleconference meeting closes at Noon, Eastern Time on Monday, April
20, 2015. The deadline to sign up to speak during the public comment
period, or to submit written public comments, is also Noon, Monday,
April 20, 2015.

DATES: The NEJAC teleconference meeting on Wednesday, April 22, 2015,
will begin promptly at 2:00 p.m. Eastern Time.
    Teleconference Registration: Registrations will be processed at
<http://nejac-teleconference-april2015.eventbrite.com> When

registering for the teleconference, please provide your name,
organization, city and state, email address, and telephone number for
follow up.
    Public Comment Registration: If you would like to provide public
comment you must register by stating that you wish to provide comment
during the call. Any written comments should be submitted before the
Monday, April 20, 2015, noon deadline. Non-English speaking attendees
wishing to arrange for a foreign language interpreter may also make
appropriate arrangements using the email address or telephone/fax
number.

FOR FURTHER INFORMATION CONTACT: Questions or correspondence concerning
the teleconference meeting should be directed to Jasmin Muriel, U.S.
Environmental Protection Agency, by mail at 1200 Pennsylvania Avenue
NW. (MC2201A), Washington, DC 20460; by telephone at<PHONE_NUMBER>; via
email at<EMAIL_ADDRESS>or by fax at<PHONE_NUMBER>. Additional
information about the NEJAC is available at: www.epa.gov/environmentaljustice/nejac.

SUPPLEMENTARY INFORMATION: The Charter of the NEJAC states that the
advisory committee shall provide independent advice to the
Administrator on areas that may include, among other things, ``advice
about broad, cross-cutting issues related to environmental justice,
including environment-related strategic, scientific, technological,
regulatory, and economic issues related to environmental justice.''
    A. Public Comment: Members of the public who wish to provide public
comment during the Thursday, April 22, 2015, public teleconference
meeting must pre-register by Noon, Eastern Time on Monday, April 20,
2015. Individuals or groups making remarks during the public comment
period will be limited to seven (7) minutes. To accommodate the number
of people who want to address the NEJAC, only one representative of a
particular community, organization, or group will be allowed to speak.
Written comments can also be submitted for the record. The suggested
format for individuals providing public comments is as follows: Name of
speaker; name of organization/community; city and state; and email
address; brief description of the concern, and what you want the NEJAC
to advise EPA to do. Written comments received by Noon, Eastern Time on
Monday, April 20, 2015, will be included in the materials distributed
to the NEJAC prior to the teleconference. Written comments received
after that time will be provided to the NEJAC as time allows. All
written comments should be sent to Jasmin Muriel, EPA, via email at
<EMAIL_ADDRESS>    B. Information about Services for Individuals with Disabilities:
For information about access or services for individuals with
disabilities, please contact Jasmin Muriel, at<PHONE_NUMBER> or via
email at<EMAIL_ADDRESS>To request special accommodations for a
disability, please contact Ms. Muriel at least four working days prior
to the meeting, to give EPA sufficient time to process your request.
All requests should be sent to the address, email, or phone/fax number
listed in the FOR FURTHER INFORMATION CONTACT section above.

    Dated: March 26, 2015.
Sherri P. White,
Designated Federal Officer, Office of Environmental Justice, U.S. EPA.
[FR Doc. 2015-07776 Filed 4-2-15; 8:45 am]
 BILLING CODE 6560-50-P


[Federal Register Volume 87, Number 212 (Thursday, November 3, 2022)]
[Notices]
[Page 66302]
[FR Doc No: 2022-23958]

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ENVIRONMENTAL PROTECTION AGENCY

[FRL-10278-01-OAR; SAN 10278]

Clean Air Act Advisory Committee

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice of charter renewal.

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SUMMARY: Notice is hereby given that the Environmental Protection
Agency (EPA) has determined that, in accordance with the provisions of
the Federal Advisory Committee Act (FACA), the Clean Air Act Advisory
Committee (CAAAC) is necessary and in the public interest in connection
with the performance of duties imposed on the agency by law.
Accordingly, CAAAC will be renewed for an additional two-year period.
The purpose of the CAAAC is to provide advice and recommendations to
the EPA Administrator on policy issues associated with implementation
of the Clean Air Act. Inquiries may be directed to Lorraine Reddick,
CAAAC Designated Federal Officer, U.S. EPA, 1200 Pennsylvania Avenue NW
(6101), Washington, DC 20460, or by email to [email protected].

Joseph Goffman,
Principal Deputy Assistant Administrator.
[FR Doc. 2022-23958 Filed 11-2-22; 8:45 am]
BILLING CODE 6560-50-P