[Federal Register: November 6, 2007 (Volume 72, Number 214)]
[Notices]
[Page 62728-62729]
[DOCID:fr06no07-128]

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DEPARTMENT OF TRANSPORTATION

National Highway Traffic Safety Administration

Petition for Exemption From the Federal Motor Vehicle Theft
Prevention Standard; Chrysler

AGENCY: National Highway Traffic Safety Administration (NHTSA),
Department of Transportation (DOT).

ACTION: Grant of petition for exemption.

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SUMMARY: This document grants in full the Chrysler, LLC, (Chrysler)
petition for exemption of the Jeep Wrangler vehicle line in accordance
with 49 CFR part 543, Exemption from the Theft Prevention Standard.
This petition is granted because the agency has determined that the
antitheft device to be placed on the line as standard equipment is
likely to be as effective in reducing and deterring motor vehicle theft
as compliance with the parts-marking requirements of the Theft
Prevention Standard (49 CFR part 541).

DATES: The exemption granted by this notice is effective beginning with
the 2009 model year (MY).

FOR FURTHER INFORMATION CONTACT: Ms. Carlita Ballard, International
Policy, Fuel Economy and Consumer Programs, NHTSA, 1200 New Jersey
Avenue, SE., Washington, DC 20590. Ms. Ballard's phone number is (202)
366-0846. Her fax number is<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: In a petition dated August 30, 2007,
Chrysler requested an exemption from the parts-marking requirements of
the theft prevention standard (49 CFR part 541) for the Jeep Wrangler
vehicle line, beginning with MY 2009. The petition requested an
exemption from parts-marking requirements pursuant to 49 CFR part 543,
Exemption from Vehicle Theft Prevention Standard, based on the
installation of an antitheft device as standard equipment for the
entire vehicle line.
    Under Sec.  543.5(a), a manufacturer may petition NHTSA to grant
exemptions for one line of its vehicle lines per year. Chrysler has
petitioned the agency to grant an exemption for its Wrangler vehicle
line beginning with MY 2009. In its petition, Chrysler provided a
detailed description and diagram of the identity, design, and location
of the components of the antitheft device for the new vehicle line.
Chrysler will install its antitheft device as standard equipment on the
MY 2009 Jeep Wrangler vehicle line. The antitheft device to be
installed on the MY 2009 Jeep Wrangler, the Sentry Key Immobilizer
System (SKIS) incorporates an ignition immobilizer system and an
unauthorized vehicle start telltale light.
    Chrysler stated that the (SKIS) prevents the engine from running
for more than 2 seconds unless a valid electronically encoded key is in
the ignition switch. The immobilizer feature is activated when the key
is removed from the ignition switch whether the vehicle doors are open
or closed. Once activated, only a valid key inserted into the ignition
switch will disable immobilization and allow the vehicle to start and
continue to run. The SKIS has a visual telltale located in the vehicle
ElectroMechanical Instrument Cluster (EMIC). The components performing
the immobilizer function in the SKIS are the Sentry Key Remote Entry
Module (SKREEM), the Powertrain Control Module (PCM), and the Sentry
Key. The ElectroMechanical Instrument Cluster (EMIC) controls the
telltale function only.
    Chrysler also stated that the SKREEM is the primary component of
the SKIS and is also the receiver for the Remote Keyless Entry system
and the Tire Pressure Monitor system. When the ignition switch is
turned to the ``ON'' position, the SKREEM transmits a radio frequency
(RF) signal to the transponder in the ignition key. If the response
received identifies the key as valid, the SKREEM sends a valid key
message to PCM over the PCI data bus, and the PCM allows the engine to
continue to run. To avoid any perceived delay when starting the vehicle
with a valid key and to prevent unburned fuel from entering the
exhaust, the engine is permitted to run for no more than 2 seconds if
an invalid key is used. If the response identifies the key as invalid,
or if no response is received from the key transponder, the SKREEM
sends an invalid key message to the PCM. The PCM will disable engine
operation (after the initial 2-second run) based upon the status of the
SKREEM messages. Chrysler stated that only six consecutive invalid
vehicle start attempts are allowed and all other invalid attempts would
be locked out by preventing the fuel injectors from firing and
disabling the starter. Only communication with a valid key will permit
the engine to start and run.
    The telltale feature operates as a security indicator in the EMIC.
The telltale alerts the owner that an unauthorized vehicle start
attempt has been made. Upon an unauthorized start attempt, the telltale
will flash on and off when the ignition switch is turned to the ``ON''
position. Besides acting as a security indicator, the telltale acts as
a diagnostic indicator. If the SKREEM detects a system malfunction and/
or the SKIS has become inoperative, the security indicator will stay on
solid. If the SKREEM detects an invalid key or if a key transponder-
related fault exists, the security indicator will flash.
    Each ignition key used in the SKIS has an integral transponder chip
included on the circuit board beneath the cover of the integral Remote
Keyless Entry (RKE) transmitter. In addition to having to be cut to
match the mechanical coding of the ignition lock cylinder and
programmed for operation of the RKE system, each new Sentry Key has a
unique transponder identification code that is permanently programmed
into it by the manufacturer, and which must be programmed into the
SKREEM to be recognized by the SKIS as a valid key. Once a Sentry Key
has been programmed to a particular vehicle, it cannot be used on any
other vehicle.
    Chrysler stated that the proposed antitheft device does not provide
any visible or audible indication of unauthorized entry. Chrysler also
stated that the (SKIS) is designed to provide passive protection
against unauthorized vehicle use and that the theft data has indicated
a decline in theft rates for vehicle lines that have been equipped with
antitheft devices similar to that which it proposes to install on the
Wrangler vehicle line. The agency has concluded that the lack of a
visual or audio alarm has not prevented these antitheft devices from
being effective protection against theft.
    In addressing the specific content requirements of 543.6, Chrysler
provided information on the reliability and durability of the device,
Chrysler conducted tests based on its own specified standards and
stated its belief that the device meets the stringent performance
standards prescribed. Specifically, Chrysler stated that its device
must demonstrate a minimum of 95 percent reliability with 90 percent
confidence. In addition to the design and production validation test
criteria, Chrysler stated that the SKIS also undergoes a daily short
term durability test. In this test, three randomly chosen systems are
tested for durability, once per shift at Chrysler's production
facility. Chrysler also stated that 100% of its systems undergo a
series of three functional tests prior to being shipped from the
supplier to the vehicle assembly plant for installation in its
vehicles.
    Chrysler stated that its actual theft experience with Jeep Wrangler
vehicles, not currently installed with an immobilizer system as
standard equipment, indicates that these vehicles have a theft rate
significantly lower than the 1990/1991 median theft rate of

3.5826. Chrysler stated that NHTSA's theft rates for the Jeep Wrangler
vehicles for model years 2000, 2001, 2002, 2003 and 2004 are 1.9208,
2.4561, 1.9980, 1.4609 and 1.4406 respectively. Chrysler stated that
vehicles subject to the parts marking requirements that subsequently
are equipped with ignition immobilizer systems as standard equipment
indicate that even lower theft rates can be expected from a vehicle
equipped with standard ignition immobilizer systems.
    Chrysler offered the Jeep Grand Cherokee vehicles as an example of
vehicles subject to part 541 parts marking requirements that
subsequently are equipped with ignition immobilizer systems as standard
equipment. NHTSA's theft rates for the Jeep Grand Cherokee vehicles for
model years prior to 1999 (1995 through 1998) when an immobilizer was
not offered as standard equipment is 5.3574, which is significantly
higher than the 1990/1991 median theft rate. Chrysler indicated that,
since the introduction of immobilizer systems as standard equipment on
the Jeep Grand Cherokee vehicles, the average theft rate for the MY
1999 through 2004 is 2.6713, which is significantly lower than the
1990/1991 median theft rate of 3.5826. The Jeep Grand Cherokee vehicles
were granted an exemption from the parts marking requirements beginning
with MY 2004 vehicles.
    On the basis of this comparison, Chrysler has concluded that the
proposed antitheft device is no less effective than those devices
installed on lines for which NHTSA has already granted full exemption
from the parts-marking requirements.
    Based on the information Chrysler has provided about its device,
the agency concludes that the antitheft device for the Jeep Wrangler
vehicle line is likely to be as effective in reducing and deterring
motor vehicle theft as compliance with the parts-marking requirements
of the Theft Prevention Standard (49 CFR part 541). The agency
concludes that the device will provide four of the five types of
performance listed in Sec.  543.6(a)(3): Promoting activation;
preventing defeat or circumvention of the device by unauthorized
persons; preventing operation of the vehicle by unauthorized entrants;
and ensuring the reliability and durability of the device.
    As required by 49 U.S.C. 33106 and 49 CFR 543.6(a)(4) and (5), the
agency finds that Chrysler has provided adequate reasons for its belief
that the antitheft device will reduce and deter theft. This conclusion
is based on the information Chrysler provided about its antitheft
device.
    For the foregoing reasons, the agency hereby grants in full
Chrysler's petition for an exemption for the MY 2009 Jeep Wrangler
vehicle line from the parts-marking requirements of 49 CFR part 541.
The agency notes that 49 CFR part 541, Appendix A-1, identifies those
lines that are exempted from the Theft Prevention Standard for a given
model year. 49 CFR 543.7(f) contains publication requirements incident
to the disposition of all part 543 petitions. Advanced listing,
including the release of future product nameplates, the beginning model
year for which the petition is granted and a general description of the
antitheft device is necessary in order to notify law enforcement
agencies of new vehicle lines exempted from the parts-marking
requirements of the Theft Prevention Standard.
    If Chrysler decides not to use the exemption for this line, it must
formally notify the agency. If such a decision is made, the line must
be fully marked as required by 49 CFR 541.5 and 541.6 (marking of major
component parts and replacement parts).
    NHTSA notes that if Chrysler wishes in the future to modify the
device on which this exemption is based, the company may have to submit
a petition to modify the exemption. Part 543.7(d) states that a part
543 exemption applies only to vehicles that belong to a line exempted
under this part and equipped with the anti-theft device on which the
line's exemption is based. Further, Sec.  543.9(c)(2) provides for the
submission of petitions ``to modify an exemption to permit the use of
an antitheft device similar to but differing from the one specified in
that exemption.''
    The agency wishes to minimize the administrative burden that part
543.9(c)(2) could place on exempted vehicle manufacturers and itself.
The agency did not intend part 543 to require the submission of a
modification petition for every change to the components or design of
an antitheft device. The significance of many such changes could be de
minimis. Therefore, NHTSA suggests that if the manufacturer
contemplates making any changes the effects of which might be
characterized as de minimis, it should consult the agency before
preparing and submitting a petition to modify.

    Authority: 49 U.S.C. 33106; delegation of authority at 49 CFR
1.50.

    Issued on: October 31, 2007.
Stephen R. Kratzke,
Associate Administrator for Rulemaking.
 [FR Doc. E7-21756 Filed 11-5-07; 8:45 am]

BILLING CODE 4910-59-P


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

General Comment:Supplmental Materials Document Title:  Workgroup Meeting Minutes 22 Jan 2008 18 pages


[Federal Register Volume 79, Number 154 (Monday, August 11, 2014)]
[Notices]
[Pages 46881-46886]
[FR Doc No: 2014-18882]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 31197; File No. 812-14306]

H&Q Healthcare Investors, et al.; Notice of Application

August 5, 2014.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of an application under section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from section 19(b) of
the Act and rule 19b-1 under the Act.

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Applicants: H&Q Healthcare Investors (``HQH''), H&Q Life Sciences
Investors (``HQL''), Tekla Healthcare Opportunities Fund (the ``New
Fund'') and Tekla Capital Management, LLC (``TCM'').
SUMMARY: Summary of Application: Applicants request an order to permit
certain registered closed-end investment companies to make periodic
distributions of long-term capital gains with respect to their
outstanding common stock as frequently as twelve times in any one
taxable year, and as frequently as distributions are specified by or in
accordance with the terms of any outstanding preferred stock that such
investment companies may issue. The requested order would supersede a
prior order (``Prior Order'').\1\
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    \1\ H&Q Healthcare Investors, et al., Investment Company Act
Release Nos. 24232 (Jan. 3, 2000) (Notice) and 24273 (Jan. 31,
2000).

DATES:  Filing Dates: The application was filed on May 9, 2014 and
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amended on July 18, 2014.

Hearing or Notification of Hearing:  An order granting the application
will be issued unless the Commission orders

a hearing. Interested persons may request a hearing by writing to the
Commission's Secretary and serving applicants with a copy of the
request, personally or by mail. Hearing requests should be received by
the Commission by 5:30 p.m. on August 26, 2014 and should be
accompanied by proof of service on applicants, in the form of an
affidavit or, for lawyers, a certificate of service. Hearing requests
should state the nature of the writer's interest, the reason for the
request, and the issues contested. Persons who wish to be notified of a
hearing may request notification by writing to the Commission's
Secretary.

ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549-1090; Applicants, Joseph R. Fleming,
Esq., Dechert LLP, One International Place, 40th Floor, 100 Oliver
Street, Boston, MA 02110-2605.

FOR FURTHER INFORMATION CONTACT: David Joire, Senior Counsel, at (202)
551-6866, or James M. Curtis, Branch Chief, at<PHONE_NUMBER> (Division
of Investment Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's Web site by searching for the file number, or for an
applicant using the Company name box, at http://www.sec.gov/search/search.htm, or by calling<PHONE_NUMBER>.

Applicants' Representations

    1. HQH, HQL, and the New Fund (the ``Current Funds'') are organized
as Massachusetts business trusts registered under the Act as closed-end
management investment companies.\2\ HQH and HQL are diversified closed-
end management investment companies and have been in operation since
April 22, 1987 and May 8, 1992, respectively. HQH's investment
objective is long-term capital appreciation through investment in
companies in the healthcare industry. Shares of the common stock of HQH
are listed and traded on the New York Stock Exchange (``NYSE''). HQL's
investment objective is long-term capital appreciation through
investment in companies in the life sciences industry (including
biotechnology, pharmaceutical, diagnostics, managed healthcare and
medical equipment, hospitals, healthcare information technology and
services, devices and supplies), agriculture and environmental
management. Shares of HQL's common stock are listed and traded on the
NYSE. The New Fund is a newly organized, non-diversified closed-end
management investment company with no operating history. The New Fund's
investment objective is to seek current income and long-term capital
appreciation through investment in equity and debt securities related
to the healthcare industry. The New Fund has applied for listing on the
NYSE. Each Current Fund currently has no outstanding preferred stock
and does not intend to issue any, but may do so in the future.
Applicants believe that investors in closed-end funds may prefer an
investment vehicle that provides regular current income through fixed
distribution policies that would be available through a Distribution
Policy (as defined below).
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    \2\ All exiting registered closed-end investment companies that
currently intend to rely on the order have been named as applicants.
Applicants request that the order also apply to each other
registered closed-end investment company advised or to be advised in
the future by TCM or by an entity controlling, controlled by, or
under common control (within the meaning of section 2(a)(9) of the
Act) with TCM (including any successor in interest) (each such
entity, including TCM, the ``Adviser'') that in the future seeks to
rely on the order (such investment companies, together with the
Current Funds, are collectively, the ``Funds'' and individually, a
``Fund''). Any Fund that may rely on the order in the future will
comply with the terms and conditions of the application. A successor
in interest is limited to entities that result from a reorganization
into another jurisdiction or a change in the type of business
organization.
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    2. TCM, a Delaware limited liability company, is registered under
the Investment Advisers Act of 1940 (the ``Advisers Act'') as an
investment adviser. TCM provides investment advisory services to the
Current Funds. Each Adviser to a Fund will be registered as an
investment adviser under the Advisers Act.
    3. Pursuant to the Prior Order, HQH and HQL each have established
distribution policies with respect to their common stock. To maintain
certainty for the distribution policies of HQH and HQL and the
distribution policies that other Funds may adopt in the future (each, a
``Distribution Policy''), applicants request an order that would
supersede the Prior Order. When the requested order is issued, it will
supersede the Prior Order and applicants may rely solely on the order.
    4. Applicants state that prior to a Fund's implementing a
Distribution Policy in reliance on the order, the board of trustees
(the ``Board'') of each Fund, including a majority of the trustees who
are not ``interested persons'' of the Fund, as defined in section
2(a)(19) of the Act (the ``Independent Trustees''), will request, and
the Adviser will provide, such information as is reasonably necessary
to make an informed determination of whether the Board should adopt a
proposed Distribution Policy, or, in the case of HQH and HQL, re-
approve an existing Distribution Policy. In particular, the Board and
the Independent Trustees will review information regarding the purpose
and terms of the Distribution Policy; the likely effects of the policy
on the Fund's long-term total return (in relation to market price and
its net asset value per share of common stock (``NAV'')); the expected
relationship between the Fund's distribution rate on its common stock
under the policy and the Fund's total return (in relation to NAV);
whether the rate of distribution would exceed such Fund's expected
total return in relation to its NAV; and any foreseeable material
effects of the policy on the Fund's long-term total return (in relation
to market price and NAV). The Independent Trustees also will consider
what conflicts of interest the Adviser and the affiliated persons of
the Adviser and the Fund might have with respect to the adoption or
implementation of the Distribution Policy. Applicants state that, only
after considering such information will the Board, including the
Independent Trustees, of each Fund approve a Distribution Policy and in
connection with such approval will determine that the Distribution
Policy is consistent with a Fund's investment objectives and in the
best interests of the holders of the Fund's common stock.
    5. Applicants state that the purpose of a Distribution Policy,
generally, would be to permit a Fund to distribute over the course of
each year, through periodic distributions in relatively equal amounts
(plus any required special distributions), an amount closely
approximating the total taxable income of such Fund during such year
and, if determined by its Board, all or a portion of returns of capital
paid by portfolio companies to such Fund during the year. Under the
Distribution Policy of a Fund, such Fund would distribute periodically
(as frequently as twelve times in any taxable year) to its respective
common stockholders a fixed percentage of the market price of such
Fund's common stock at a particular point in time or a fixed percentage
of NAV at a particular time or a fixed amount per share of common
stock, any of which may be adjusted from time to time. It is
anticipated that under a Distribution Policy, the minimum annual
distribution rate with respect to such Fund's common stock would be
independent of the Fund's performance during any particular period but
would be expected to correlate with the Fund's performance over time.
Except for

extraordinary distributions and potential increases or decreases in the
final dividend periods in light of a Fund's performance for the entire
calendar year and to enable the Fund to comply with the distribution
requirements of Subchapter M of the Internal Revenue Code (``Code'')
for the calendar year, each distribution on the Fund's common stock
would be at the stated rate then in effect.
    6. Applicants state that prior to the implementation of a
Distribution Policy for any Fund in reliance on the order, the Board of
such Fund will have adopted policies and procedures under rule 38a-1
under the Act that: (i) Are reasonably designed to ensure that all
notices required to be sent to the Fund's stockholders pursuant to
section 19(a) of the Act, rule 19a-1 thereunder and condition 4 below
(each a ``19(a) Notice'') include the disclosure required by rule 19a-1
under the Act and by condition 2(a) below, and that all other written
communications by the Fund or its agents regarding distributions under
the Distribution Policy include the disclosure required by condition
3(a) below; and (ii) require the Fund to keep records that demonstrate
its compliance with all of the conditions of the order and that are
necessary for such Fund to form the basis for, or demonstrate the
calculation of, the amounts disclosed in its 19(a) Notices.

Applicants' Legal Analysis

    1. Section 19(b) of the Act generally makes it unlawful for any
registered investment company to make long-term capital gains
distributions more than once every twelve months. Rule 19b-1 limits the
number of capital gains dividends, as defined in section 852(b)(3)(C)
of the Code (``distributions''), that a fund may make with respect to
any one taxable year to one, plus a supplemental distribution made
pursuant to section 855 of the Code not exceeding 10% of the total
amount distributed for the year, plus one additional capital gain
dividend made in whole or in part to avoid the excise tax under section
4982 of the Code.
    2. Section 6(c) of the Act provides, in relevant part, that the
Commission may exempt any person or transaction from any provision of
the Act to the extent that such exemption is necessary or appropriate
in the public interest and consistent with the protection of investors
and the purposes fairly intended by the policy and provisions of the
Act.
    3. Applicants state that one of the concerns leading to the
enactment of section 19(b) and adoption of rule 19b-1 was that
stockholders might be unable to distinguish between frequent
distributions of capital gains and dividends from investment income.
Applicants state, however, that rule 19a-1 effectively addresses this
concern by requiring that distributions (or the confirmation of the
reinvestment thereof) estimated to be sourced in part from capital
gains or capital be accompanied by a separate statement showing the
sources of the distribution (e.g., estimated net income, net short-term
capital gains, net long-term capital gains and/or return of capital).
Applicants state that the same information will be included in the
Funds' annual reports to stockholders and on the Internal Revenue
Service Form 1099 DIV, which will be sent to each common and preferred
stockholder who received distributions during a particular year.
    4. Applicants further state that each Fund will make the additional
disclosures required by the conditions set forth below, and each Fund
will adopt compliance policies and procedures in accordance with rule
38a-1 under the Act to ensure that all required 19(a) Notices and
disclosures are sent to stockholders. Applicants state that the
information required by section 19(a), rule 19a-1, the Distribution
Policy, the policies and procedures under rule 38a-1 noted above, and
the conditions listed below will help ensure that each Fund's
stockholders are provided sufficient information to understand that
their periodic distributions are not tied to a Fund's net investment
income (which for this purpose is the Fund's taxable income other than
from capital gains) and realized capital gains to date, and may not
represent yield or investment return. Accordingly, applicants assert
that continuing to subject the Funds to section 19(b) and rule 19b-1
would afford stockholders no extra protection.
    5. Applicants note that section 19(b) and rule 19b-1 also were
intended to prevent certain improper sales practices, including, in
particular, the practice of urging an investor to purchase shares of a
fund on the basis of an upcoming capital gains dividend (``selling the
dividend''), where the dividend would result in an immediate
corresponding reduction in NAV and would be in effect a taxable return
of the investor's capital. Applicants submit that the ``selling the
dividend'' concern should not apply to closed-end investment companies,
such as the Funds, which do not continuously distribute shares.
According to applicants, if the underlying concern extends to secondary
market purchases of shares of closed-end funds that are subject to a
large upcoming capital gains dividend, adoption of a periodic
distribution plan actually helps minimize the concern by avoiding,
through periodic distributions, any buildup of large end-of-the-year
distributions.
    6. Applicants also note that the common stock of closed-end funds
often trades in the marketplace at a discount to its NAV. Applicants
believe that this discount may be reduced if the Funds are permitted to
pay relatively frequent dividends on their common stock at a consistent
rate, whether or not those dividends contain an element of long-term
capital gains.
    7. Applicants assert that the application of rule 19b-1 to a
Distribution Policy actually could have an inappropriate influence on
portfolio management decisions. Applicants state that, in the absence
of an exemption from rule 19b-1, the adoption of a periodic
distribution plan imposes pressure on management (i) not to realize any
net long-term capital gains until the point in the year that the fund
can pay all of its remaining distributions in accordance with rule 19b-
1, and (ii) not to realize any long-term capital gains during any
particular year in excess of the amount of the aggregate pay-out for
the year (since as a practical matter excess gains must be distributed
and accordingly would not be available to satisfy pay-out requirements
in following years), notwithstanding that purely investment
considerations might favor realization of long-term gains at different
times or in different amounts. Applicants assert that by limiting the
number of long-term capital gain dividends that a Fund may make with
respect to any one year, rule 19b-1 may prevent the normal and
efficient operation of a periodic distribution plan whenever that
Fund's realized net long-term capital gains in any year exceed the
total of the periodic distributions that may include such capital gains
under the rule.
    8. Applicants also assert that rule 19b-1 may force fixed regular
periodic distributions under a periodic distribution plan to be funded
with returns of capital \3\ (to the extent net investment income and
realized short-term capital gains are insufficient to fund the
distribution), even though realized net long-term capital gains
otherwise would be available. To distribute all of a Fund's long-term
capital gains within the limits in rule 19b-1, a Fund may be required
to make

total distributions in excess of the annual amount called for by its
periodic distribution plan, or to retain and pay taxes on the excess
amount. Applicants assert that the requested order would minimize these
anomalous effects of rule 19b-1 by enabling the Funds to realize long-
term capital gains as often as investment considerations dictate
without fear of violating rule 19b-1.
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    \3\ Returns of capital as used in the application means return
of capital for financial accounting purposes and not for tax
accounting purposes.
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    9. Applicants state that Revenue Ruling 89-81 under the Code
requires that a fund that seeks to qualify as a regulated investment
company under the Code and that has both common stock and preferred
stock outstanding designate the types of income, e.g., investment
income and capital gains, in the same proportion as the total
distributions distributed to each class for the tax year. To satisfy
the proportionate designation requirements of Revenue Ruling 89-81,
whenever a fund has realized a long-term capital gain with respect to a
given tax year, the fund must designate the required proportionate
share of such capital gain to be included in common and preferred stock
dividends. Applicants state that although rule 19b-1 allows a fund some
flexibility with respect to the frequency of capital gains
distributions, a fund might use all of the exceptions available under
the rule for a tax year and still need to distribute additional capital
gains allocated to the preferred stock to comply with Revenue Ruling
89-81.
    10. Applicants assert that the potential abuses addressed by
section 19(b) and rule 19b-1 do not arise with respect to preferred
stock issued by a closed-end fund. Applicants assert that such
distributions are either fixed or determined in periodic auctions by
reference to short-term interest rates rather than by reference to
performance of the issuer, and Revenue Ruling 89-81 determines the
proportion of such distributions that are comprised of long-term
capital gains.
    11. Applicants also submit that the ``selling the dividend''
concern is not applicable to preferred stock, which entitles a holder
to no more than a specified periodic dividend at a fixed rate or the
rate determined by the market, and, like a debt security, is priced
based upon its liquidation preference, dividend rate, credit quality,
and frequency of payment. Applicants state that investors buy preferred
stock for the purpose of receiving payments at the frequency bargained
for, and do not expect the liquidation value of their shares to change.
    12. Applicants request an order under section 6(c) of the Act
granting an exemption from the provisions of section 19(b) of the Act
and rule 19b-1 thereunder to permit each Fund to distribute periodic
capital gain dividends (as defined in section 852(b)(3)(C) of the Code)
as frequently as twelve times in any one taxable year in respect of its
common stock and as often as specified by, or determined in accordance
with the terms of, any preferred stock issued by the Fund.

Applicants' Conditions

    Applicants agree that, with respect to each Fund seeking to rely on
the order, the order will be subject to the following conditions:
    1. Compliance Review and Reporting. The Fund's chief compliance
officer will: (a) Report to the Fund's Board, no less frequently than
once every three months or at the next regularly scheduled quarterly
Board meeting, whether (i) the Fund and its Adviser have complied with
the conditions of the order, and (ii) a material compliance matter (as
defined in rule 38a-1(e)(2) under the Act) has occurred with respect to
such conditions; and (b) review the adequacy of the policies and
procedures adopted by the Board no less frequently than annually.
    2. Disclosures to Fund Stockholders.
    (a) Each 19(a) Notice disseminated to the holders of the Fund's
common stock, in addition to the information required by section 19(a)
and rule 19a-1:
    (i) Will provide, in a tabular or graphical format:
    (1) The amount of the distribution, on a per share of common stock
basis, together with the amounts of such distribution amount, on a per
share of common stock basis and as a percentage of such distribution
amount, from estimated: (A) Net investment income; (B) net realized
short-term capital gains; (C) net realized long-term capital gains; and
(D) return of capital or other capital source;
    (2) the fiscal year-to-date cumulative amount of distributions, on
a per share of common stock basis, together with the amounts of such
cumulative amount, on a per share of common stock basis and as a
percentage of such cumulative amount of distributions, from estimated:
(A) Net investment income; (B) net realized short-term capital gains;
(C) net realized long-term capital gains; and (D) return of capital or
other capital source;
    (3) the average annual total return in relation to the change in
NAV for the 5-year period (or, if the Fund's history of operations is
less than five years, the time period commencing immediately following
the Fund's first public offering) ending on the last day of the month
ended immediately prior to the most recent distribution record date
compared to the current fiscal period's annualized distribution rate
expressed as a percentage of NAV as of the last day of the month prior
to the most recent distribution record date; and
    (4) the cumulative total return in relation to the change in NAV
from the last completed fiscal year to the last day of the month prior
to the most recent distribution record date compared to the fiscal
year-to-date cumulative distribution rate expressed as a percentage of
NAV as of the last day of the month prior to the most recent
distribution record date. Such disclosure shall be made in a type size
at least as large and as prominent as the estimate of the sources of
the current distribution; and
    (ii) Will include the following disclosure:
    (1) ``You should not draw any conclusions about the Fund's
investment performance from the amount of this distribution or from the
terms of the Fund's Distribution Policy'';
    (2) ``The Fund estimates that it has distributed more than its
income and net realized capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may occur,
for example, when some or all of the money that you invested in the
Fund is paid back to you. A return of capital distribution does not
necessarily reflect the Fund's investment performance and should not be
confused with `yield' or `income' '' \4\ ; and
---------------------------------------------------------------------------

    \4\ The disclosure in condition 2(a)(ii)(2) will be included
only if the current distribution or the fiscal year-to-date
cumulative distributions are estimated to include a return of
capital.
---------------------------------------------------------------------------

    (3) ``The amounts and sources of distributions reported in this
19(a) Notice are only estimates and are not being provided for tax
reporting purposes. The actual amounts and sources of the amounts for
tax reporting purposes will depend upon the Fund's investment
experience during the remainder of its fiscal year and may be subject
to changes based on tax regulations. The Fund will send you a Form
1099-DIV for the calendar year that will tell you how to report these
distributions for federal income tax purposes.''
    Such disclosure shall be made in a type size at least as large as
and as prominent as any other information in the 19(a) Notice and
placed on the same page in close proximity to the amount and the
sources of the distribution.
    (b) On the inside front cover of each report to stockholders under
rule 30e-1 under the Act, the Fund will:

    (i) Describe the terms of the Distribution Policy (including the
fixed amount or fixed percentage of the distributions and the frequency
of the distributions);
    (ii) include the disclosure required by condition 2(a)(ii)(1)
above;
    (iii) state, if applicable, that the Distribution Policy provides
that the Board may amend or terminate the Distribution Policy at any
time without prior notice to Fund stockholders; and
    (iv) describe any reasonably foreseeable circumstances that might
cause the Fund to terminate the Distribution Policy and any reasonably
foreseeable consequences of such termination.
    (c) Each report provided to stockholders under rule 30e-1 under the
Act and each prospectus filed with the Commission on Form N-2 under the
Act, will provide the Fund's total return in relation to changes in NAV
in the financial highlights table and in any discussion about the
Fund's total return.
    3. Disclosure to Stockholders, Prospective Stockholders and Third
Parties.
    (a) The Fund will include the information contained in the relevant
19(a) Notice, including the disclosure required by condition 2(a)(ii)
above, in any written communication (other than a communication on Form
1099) about the Distribution Policy or distributions under the
Distribution Policy by the Fund, or agents that the Fund has authorized
to make such communication on the Fund's behalf, to any Fund
stockholder, prospective stockholder or third-party information
provider;
    (b) The Fund will issue, contemporaneously with the issuance of any
19(a) Notice, a press release containing the information in the 19(a)
Notice and will file with the Commission the information contained in
such 19(a) Notice, including the disclosure required by condition
2(a)(ii) above, as an exhibit to its next filed Form N-CSR; and
    (c) The Fund will post prominently a statement on its (or the
Adviser's) Web site containing the information in each 19(a) Notice,
including the disclosure required by condition 2(a)(ii) above, and will
maintain such information on such Web site for at least 24 months.
    4. Delivery of 19(a) Notices to Beneficial Owners. If a broker,
dealer, bank or other person (``financial intermediary'') holds common
stock issued by the Fund in nominee name, or otherwise, on behalf of a
beneficial owner, the Fund: (a) Will request that the financial
intermediary, or its agent, forward the 19(a) Notice to all beneficial
owners of the Fund's stock held through such financial intermediary;
(b) will provide, in a timely manner, to the financial intermediary, or
its agent, enough copies of the 19(a) Notice assembled in the form and
at the place that the financial intermediary, or its agent, reasonably
requests to facilitate the financial intermediary's sending of the
19(a) Notice to each beneficial owner of the Fund's stock; and (c) upon
the request of any financial intermediary, or its agent, that receives
copies of the 19(a) Notice, will pay the financial intermediary, or its
agent, the reasonable expenses of sending the 19(a) Notice to such
beneficial owners.
    5. Additional Board Determinations for Funds Whose Common Stock
Trades at a Premium.

If:

    (a) The Fund's common stock has traded on the stock exchange that
they primarily trade on at the time in question at an average premium
to NAV equal to or greater than 10%, as determined on the basis of the
average of the discount or premium to NAV of the Fund's shares of
common stock as of the close of each trading day over a 12-week rolling
period (each such 12-week rolling period ending on the last trading day
of each week); and
    (b) The Fund's annualized distribution rate for such 12-week
rolling period, expressed as a percentage of NAV as of the ending date
of such 12-week rolling period, is greater than the Fund's average
annual total return in relation to the change in NAV over the 2-year
period ending on the last day of such 12-week rolling period; then:
    (i) At the earlier of the next regularly scheduled meeting or
within four months of the last day of such 12-week rolling period, the
Board, including a majority of the Independent Trustees:
    (1) Will request and evaluate, and the Fund's Adviser will furnish,
such information as may be reasonably necessary to make an informed
determination of whether the Distribution Policy should be continued or
continued after amendment;
    (2) will determine whether continuation, or continuation after
amendment, of the Distribution Policy is consistent with the Fund's
investment objective(s) and policies and is in the best interests of
the Fund and its stockholders, after considering the information in
condition 5(b)(i)(1) above; including, without limitation:
    (A) Whether the Distribution Policy is accomplishing its
purpose(s);
    (B) the reasonably foreseeable material effects of the Distribution
Policy on the Fund's long-term total return in relation to the market
price and NAV of the Fund's common stock; and
    (C) the Fund's current distribution rate, as described in condition
5(b) above, compared with the Fund's average annual taxable income or
total return over the 2-year period, as described in condition 5(b), or
such longer period as the Board deems appropriate; and
    (3) based upon that determination, will approve or disapprove the
continuation, or continuation after amendment, of the Distribution
Policy; and
    (ii) The Board will record the information considered by it,
including its consideration of the factors listed in condition
5(b)(i)(2) above, and the basis for its approval or disapproval of the
continuation, or continuation after amendment, of the Distribution
Policy in its meeting minutes, which must be made and preserved for a
period of not less than six years from the date of such meeting, the
first two years in an easily accessible place.
    6. Public Offerings. The Fund will not make a public offering of
the Fund's common stock other than:
    (a) A rights offering below NAV to holders of the Fund's common
stock;
    (b) an offering in connection with a dividend reinvestment plan,
merger, consolidation, acquisition, spin-off or reorganization of the
Fund; or
    (c) an offering other than an offering described in conditions 6(a)
and 6(b) above, provided that, with respect to such other offering:
    (i) The Fund's annualized distribution rate for the six months
ending on the last day of the month ended immediately prior to the most
recent distribution record date,\5\ expressed as a percentage of NAV as
of such date, is no more than 1 percentage point greater than the
Fund's average annual total return for the 5-year period ending on such
date;\6\ and
---------------------------------------------------------------------------

    \5\ If the Fund has been in operation fewer than six months, the
measured period will begin immediately following the Fund's first
public offering.
    \6\ If the Fund has been in operation fewer than five years, the
measured period will begin immediately following the Fund's first
public offering.
---------------------------------------------------------------------------

    (ii) the transmittal letter accompanying any registration statement
filed with the Commission in connection with such offering discloses
that the Fund has received an order under section 19(b) to permit it to
make periodic distributions of long-term capital gains with respect to
its shares of common stock as frequently as twelve times each year, and
as frequently as distributions are specified by or

determined in accordance with the terms of any outstanding shares of
preferred stock as such Fund may issue.
    7. Amendments to Rule 19b-1.
    The requested order will expire on the effective date of any
amendment to rule 19b-1 that provides relief permitting certain closed-
end investment companies to make periodic distributions of long-term
capital gains with respect to their outstanding common stock as
frequently as twelve times each year.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Kevin M. O'Neill,
 Deputy Secretary.
[FR Doc. 2014-18882 Filed 8-8-14; 8:45 am]
BILLING CODE 8011-01-P


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Seaton, T. 2010. "Masonry Heater Industry Analysis: Residential Sold Fuel Burning Appliance SBREFA Process." Industry comments submitted to EPA on September 12, 2010.
Sisler, J.F. 1996. Spatial and seasonal patterns and long-term variability of the composition of the haze in the United States: an analysis of data from the IMPROVE network. CIRA Report, ISSN 0737-5352-32, Colorado State University.
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U.S. Census Bureau. 2010d. American Fact Finder. Sector 44: EC0744A1: Retail Trade: Geographic Area Series: Summary Statistics for the United States, States, Metro Areas, Counties, and Places: 2007. Available at: http://factfinder.census.gov. Accessed July 20, 2010.
U.S. Census Bureau. 2010e. Census Regions and Divisions of the United States. Available at: http://www.census.gov/geo/www/us_regdiv.pdf.  Accessed September 12, 2010.U.S. Census Bureau. 2010f. North American Industrial Classification System [NAICS] Code Definitions Web site. Available at: http://www.census.gov/eos/www/naics/.
U.S. Department of Energy (DOE). 2009. "Your Home: Selecting Heating Fuel and System Types." ENERGYSTAR Web site. U.S. Department of Energy. Available at: http://www.energysavers.gov/your_home/space_heating_cooling/index.cfm/mytopic=12330..
U.S. Department of Energy (DOE). 2010. "Your Home: Masonry Heaters." ENERGYSTAR Web site. U.S. Department of Energy. Available at: http://www.energysavers.gov/your_home/space_heating_cooling/index.cfm/mytopic=12570.
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U.S. Environmental Protection Agency -- Science Advisory Board (U.S. EPA-SAB). 2009a. Review of EPA's Integrated Science Assessment for Particulate Matter (First External Review Draft, December 2008). EPA-COUNCIL-09-008. May. Available on the Internet at <http://yosemite.epa.gov/sab/SABPRODUCT.NSF/81e39f4c09954fcb85256ead006be86e/73ACCA834AB44A10852575BD0064346B/$File/EPA-CASAC-09-008-unsigned.pdf>.
U.S. Environmental Protection Agency -- Science Advisory Board (U.S. EPA-SAB). 2009b. Consultation on EPA's Particulate Matter National Ambient Air Quality Standards: Scope and Methods Plan for Health Risk and Exposure Assessment. EPA-COUNCIL-09-009. May. Available on the Internet at <http://yosemite.epa.gov/sab/SABPRODUCT.NSF/81e39f4c09954fcb85256ead006be86e/723FE644C5D758DF852575BD00763A32/$File/EPA-CASAC-09-009-unsigned.pdf>.
U.S. Environmental Protection Agency -- Science Advisory Board (U.S. EPA-SAB). 2010. Review of EPA's DRAFT Health Benefits of the Second Section 812 Prospective Study of the Clean Air Act. EPA-COUNCIL-10-001. June. Available on the Internet at http://yosemite.epa.gov/sab/sabproduct.nsf/0/72D4EFA39E48CDB28525774500738776/$File/EPA-COUNCIL-10-001-unsigned.pdf.
U.S. Environmental Protection Agency (EPA). 2002. "Profile of the Pulp and Paper Industry." Sector Notebook Project. Available at: http://www.epa.gov/Compliance/resources/publications/assistance/sectors/notebooks/index.html.
U.S. Environmental Protection Agency (EPA). 2006a. Final Guidance EPA Rulewriters: Regulatory Flexibility Act as Amended by the Small Business and Regulatory Enforcement Fairness Act. http://www.epa.gov/sbrefa/documents/rfaguidance11-00-06.pdf.
U.S. Environmental Protection Agency (EPA). 2006b. Regulatory Impact Analysis. 2006 National Ambient Air Quality Standards for Particulate Matter. Chapter 5. Available at: http://www.epa.gov/ttn/ecas/regdata/RIAs/Chapter%205--Benefits.pdf.
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[Federal Register Volume 79, Number 117 (Wednesday, June 18, 2014)]
[Notices]
[Pages 34741-34742]
[FR Doc No: 2014-14246]

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ENVIRONMENTAL PROTECTION AGENCY

[FRL-9912-48-OAR]

Request for Nominations to the Clean Air Act Advisory Committee
(CAAAC)

AGENCY: Environmental Protection Agency.

ACTION: Request for Nominations to the Clean Air Act Advisory Committee
(CAAAC).

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

SUMMARY: The U.S. Environmental Protection Agency (EPA) invites
nominations from a diverse range of qualified candidates to be
considered for appointment to its Clean Air Act Advisory Committee
(CAAAC). Vacancies are anticipated to be filled by February 2015.
    Background: The Environmental Protection Agency (EPA) established
the Clean Air Act Advisory Committee (CAAAC) on November 19, 1990, to
provide independent advice and counsel to EPA on policy issues
associated with implementation of the Clean Air Act of 1990. The
Committee advises on economic, environmental, technical, scientific and
enforcement policy issues. The programs falling under the purview of
the committee include the National Ambient Air Quality Standards,
emissions from vehicles and vehicle fuels, air toxic emissions,
greenhouse gas emissions, operating permits and collecting fees, and
other authorities. Members are appointed by the EPA Administrator for
two-year terms with the possibility of reappointment to additional
terms. The CAAAC usually meets two to three times annually and the
average workload for the members is approximately 5 to 8 hours per
month. Although we are unable to offer compensation or an honorarium
for your services, you may receive travel and per diem allowances,
according to applicable federal travel regulations. Additional
information on these meetings, CAAAC and its Subcommittees can be found
on the CAAAC Web site: http://www.epa.gov/air/caaac/.
    EPA is seeking nominations from academia, industry, non-
governmental/environmental organizations, state and local government
agencies, tribal governments, unions, trade associations, utilities,
and lawyers/consultants. EPA values and welcomes diversity. In an
effort to obtain nominations of diverse candidates, EPA encourages
nominations of women and men of all racial and ethnic groups.
    The following criteria will be used to evaluate nominees:

--The background and experiences that would help members contribute to
the diversity of perspectives on the committee (e.g., geographic,
economic, social, cultural, educational, and other considerations
--Experience serving as an elected official;
--Experience serving as an appointed official for a state, county, city
or tribe;
--Experience in working at the national level on local governments
issues;
--Demonstrated experience with air quality policy issues;
--Executive management level experience with membership in broad-based
networks;
--Excellent interpersonal, oral and written communication, and
consensus-building skills.
--Ability to volunteer time to attend meetings 2-3 times a year,
participate in teleconference meetings, attend listening sessions with
the Administrator or other senior-level officials, develop policy
recommendations to the Administrator, and prepare reports and advice
letters.

    EPA will not appoint any federally-registered lobbyists to the
committee. In addition, EPA's policy is that, unless otherwise
prescribed by statute, members generally are appointed to two-year
terms.
    Nominations: Nominations should include: A resume and a short
biography describing the professional and educational qualifications of
the nominee, as well as the nominee's current business address, email
address, and daytime telephone number. In addition, nominees are
invited to provide additional information that would be useful to EPA
in considering the nominations, including a brief summary of the
nominee's interest in air

policy issues; the availability of the nominee to participate as a
member of this committee; how the nominee's background, skills, and
experience would contribute to the diversity of the committee; and any
concerns the nominee may have regarding committee membership.
Interested candidates may self-nominate. All information should be sent
to Jeneva Craig, Designated Federal Officer, preferably electronically,
to<EMAIL_ADDRESS>Hard copies may also be mailed to Jeneva
Craig, U.S. EPA, Office of Air and Radiation, Mail code 6103A, 1200
Pennsylvania Ave. NW., Washington, DC 20460. U.S. EPA is accepting
nominations until September 1, 2014.

FOR FURTHER INFORMATION CONTACT: Please contact Jeneva Craig, Office of
Air and Radiation, U.S. EPA at<EMAIL_ADDRESS>at<PHONE_NUMBER>,
or by mail at U.S. EPA, Office of Air and Radiation (Mail code 6103 A),
1200 Pennsylvania Avenue NW., Washington, DC 20460.

    Dated: June 12, 2014.
Jeneva Craig,
Designated Federal Official, Clean Air Act Advisory Committee, Office
of Air and Radiation.
[FR Doc. 2014-14246 Filed 6-17-14; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 81, Number 93 (Friday, May 13, 2016)]
[Notices]
[Page 29925]
[FR Doc No: 2016-11533]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting; Cancellation

FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: 81 FR 29314, May
11, 2016.

PREVIOUSLY ANNOUNCED TIME AND DATE OF THE MEETING: Friday, May 13, 2016
at 10:30 a.m.

CHANGES IN THE MEETING: The Closed Meeting scheduled for Friday, May
13, 2016 at 10:30 a.m., has been cancelled.

CONTACT PERSON FOR MORE INFORMATION: For further information and to
ascertain what, if any, matters have been added, deleted or postponed,
please contact Brent J. Fields of the Office of the Secretary at (202)
551-5400.

    Dated: May 11, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-11533 Filed 5-11-16; 4:15 pm]
 BILLING CODE 8011-01-P


[Federal Register: August 10, 2010 (Volume 75, Number 153)]
[Notices]
[Page 48391]
[DOCID:fr10au10-88]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62639; File No. SR-Phlx-2010-89]

Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Order
Approving a Proposed Rule Change Relating to Pricing for Direct Circuit
Connections

August 4, 2010.
    On June 24, 2010, NASDAQ OMX PHLX, Inc. (``Phlx'' or the
``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 to establish pricing for 10Gb direct circuit
connections and codify pricing for 10Gb direct circuit connections for
customers who are not co-located in Phlx's datacenter. The proposed
rule change was published for comment in the Federal Register on July
2, 2010.\3\ The Commission received no comment letters on the proposal.
This order approves the proposed rule change.
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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. 62394 (July 2,
2010), 75 FR 38583 (``Notice'').
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    In its proposal, Phlx proposed to establish fees for direct 10Gb
circuit connections, and codify fees for direct circuit connections
capable of supporting up to 1Gb, for customers who are not co-located
at the Exchange's datacenter. Phlx represented that it already makes
available to co-located customers a 10Gb circuit connection and charges
for each a $1,000 initial installation charge as well as an ongoing
monthly fee of $5,000. The Exchange proposed to establish the same fees
for non-co-located customers with a 10Gb circuit connection.\4\
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    \4\ According to the Exchange, Phlx provides an additional 1Gb
copper connection option for co-located customers. Phlx represented
that, given the technological constraints of copper connections over
longer distances, it does not offer a copper connection option to
users outside of its datacenter.
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    Phlx represented that it also already makes available to both co-
located and non-co-located customers direct connections capable of
supporting up to 1Gb, with per connection monthly fees of $500 for co-
located customers and $1000 for non co-located customers. According to
the Exchange, monthly fees are higher for non-co-located customers
because direct connections require Phlx to provide cabinet space and
middleware for those customers' third-party vendors to connect into the
datacenter and, ultimately, to the trading system. Finally, the
Exchange represented that for non-co-located customers, it charges an
optional installation fee of $925 if the customer chooses to use an on-
site router.
    After careful review, 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.\5\
In particular, the Commission finds that the proposed rule change is
consistent with Section 6(b)(4) of the Act,\6\ which requires that the
rules of a national securities exchange provide for the equitable
allocation of reasonable dues, fees and other charges among its members
and issuers and other persons using its facilities, and with Section
6(b)(5) of the Act,\7\ 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, and not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
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    \5\ In approving this proposal, the Commission has considered
the proposed rule's impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f(b)(4).
    \7\ 15 U.S.C. 78f(b)(5).
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    The Commission believes that the proposed fees for 10Gb and 1Gb
direct circuit connections are reasonable and equitably allocated
insofar as they are applied on the same terms to similarly-situated
market participants. In addition, the Commission believes that the
connectivity options described in the proposed rule change are not
unfairly discriminatory because Phlx makes the 10Gb and 1Gb direct
circuit connections uniformly available to all non-co-located customers
who voluntarily request them and pay the fees as detailed in the
proposal. As represented by Phlx, these fees are uniform for all such
customers and are either the same as fees charged to co-located
customers, or vary due to different costs incurred by Phlx associated
with providing service to the two different customer types. Finally,
the Commission believes that the proposal will further the protection
of investors and the public interest because it will provide greater
transparency regarding the connectivity options available to market
participants.
    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\8\ that the proposed rule change (SR-Phlx-2010-89) be, and hereby
is, approved.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-19650 Filed 8-9-10; 8:45 am]
BILLING CODE 8010-01-P


[Federal Register: August 25, 2008 (Volume 73, Number 165)]
[Notices]
[Page 50065-50067]
[DOCID:fr25au08-92]

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DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2003-25290]

Commercial Driver's License Standards: Application for Exemption;
Isuzu Motors America, Inc. (Isuzu)

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.

ACTION: Notice of application for exemption; request for comments.

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SUMMARY: FMCSA announces that Isuzu Motors America (Isuzu) has applied
for an exemption from the Federal requirement for a driver of a
commercial motor vehicle (CMV) to hold a commercial driver's license
(CDL). Isuzu requests that the exemption cover 27 of its commercial
motor vehicle (CMV) drivers who will test-drive CMVs for Isuzu in the
United States. Each of these 27 Isuzu employees holds a valid Japanese
CDL but lacks the U.S. residency necessary to obtain a CDL from one of
the States of the U.S. Isuzu believes the knowledge and skills tests
and training program that drivers undergo to obtain a Japanese CDL
ensures that these drivers will achieve a level of safety that is
equivalent to, or greater than, the level of safety that would be
obtained by complying with the exemption.

DATES: Comments must be received on or before September 24, 2008.

ADDRESSES: You may submit comments identified by Federal Docket
Management System Number [FMCSA-2003-25290] by any of the following
methods:
     Web site: www.regulations.gov. Follow the instructions for
submitting comments on the Federal electronic docket site.
     Fax: 1-202-493-2251.
     Mail: Docket Management Facility; U.S. Department of
Transportation, Room W-12-140, 1200 New Jersey Avenue, SE., 20590-0001.
     Hand Delivery: Ground Floor, Room W12-140, DOT Building,
1200 New Jersey Avenue, SE., Washington, DC, between 9 a.m. and 5 p.m.
e.t., Monday through Friday, except Federal Holidays.
    Instructions: All submissions must include the Agency name and
docket number. For detailed instructions on submitting comments and
additional information on the exemption process, see the Public
Participation heading below. Note that all comments received will be
posted without change to www.regulations.gov, including any personal
information provided. Please see the Privacy Act heading below.
    Docket: For access to the docket to read background documents or
comments received, go to www.regulations.gov at any time or to the
ground floor, room W12-140, DOT Building, 1200 New Jersey Avenue, SE.,
Washington, DC, between 9 a.m. and 5 p.m., e.t., Monday through Friday,
except Federal holidays.
    Privacy Act: Anyone is able to search the electronic form of all
comments received into any of the our dockets by the name of the
individual submitting the comment (or signing the comment, if submitted
on behalf of an association, business, labor union, etc.). You may
review DOT's complete Privacy Act Statement in the Federal Register
published on April 11, 2000 (65 FR 19477) or you may visit
www.regulations.gov.
    Public Participation: The www.regulations.gov Web site is generally
available 24 hours each day, 365 days each year. You can get electronic
submission and retrieval help and guidelines under the ``help'' section
of the www.regulations.gov Web site and also at the DOT's http://
docketsinfo.dot.gov Web site. If you want us to notify you that we
received your comments, please include a self-addressed, stamped
envelope or postcard, or print the acknowledgement page that appears
after submitting comments online.

FOR FURTHER INFORMATION CONTACT:
    Mr. Robert Schultz, Jr., FMCSA Driver and Carrier Operations
Division; Office of Bus and Truck Standards and Operations; Telephone:
202-366-4325. E-mail<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    Section 4007 of the Transportation Equity Act for the 21st Century
(Pub. L. 105-178, 112 Stat. 107, June 9, 1998) amended 49 U.S.C. 31315
and 31136(e) to provide authority to grant exemptions from motor
carrier safety regulations. Under its regulations, FMCSA must publish a
notice of each exemption request in the Federal Register (49 CFR
381.315(a)). The Agency must provide the public an opportunity to
inspect the information relevant to the application, including any
safety analyses. The Agency must also provide an opportunity for public
comment on the application.
    The Agency reviews the safety analyses and the public comments, and
determines whether granting the exemption would likely achieve a level
of safety equivalent to, or greater than, the level that would be
achieved by complying with the current regulation (49 CFR 381.305). The
decision of the Agency must be published in the Federal Register (49
CFR 381.315(b)) with the reason for denying or, in the alternative, the
specific person or class of persons receiving the exemption, and the
regulatory provision or provisions from which exemption is granted. The
notice must also specify the effective period of the exemption (up to 2
years), and explain the terms and conditions of the exemption. The
exemption may be renewed (49 CFR 381.300(b)).

Request for Exemption

    Isuzu has applied for an exemption from the commercial driver's
license (CDL) rules, specifically 49 CFR 383.23 that prescribes
licensing requirements for drivers operating commercial motor vehicles
(CMVs) in interstate or intrastate commerce. Isuzu requests the
exemption because its driver-employees are citizens and residents of
Japan, and because they cannot apply for a CDL in any of the United
States. A copy of the application is in Docket No. FMCSA-2003-25290.
The exemption would allow 27 drivers to operate CMVs in interstate
commerce as a team, testing and evaluating production and prototype
commercial motor vehicles in the United States in order to assist in
the design of safe vehicles for sale in the United States.
    The drivers are: Yasushi Akazawa, Kenji Takashima, Kunihisa Nagata,
Hidenori Seki, Toshihiko Morikawa, Koichi Uneo, Atsushi Fujiwara,
Katsushi Suzuki, Mitsugu Yamamoto, Takashi Nakaya, Takahisa Chiba,
Shigeru Kitano, Daisuke Mori, Takahiro Kakizaki, Takamasa Ono, Koichi
Sekine, Shinichi Takahashi, Shinya Ogawa, Masamitsu Oohata, Tamotsu
Watanabe,Masahito Suzuki, Kazuya Suwa, Hiroshi Yokobori, Tatsuji
Kitamura, Shinichi Ishiguro, Takashi Hiromatsu, and Jun Mizushima.
    Each driver holds a valid Japanese CDL, and as explained by Isuzu
in previous exemption requests, drivers applying for a Japanese-issued
CDL must undergo a training program and pass knowledge and skills
tests. Isuzu also stated in prior exemption requests that the knowledge
and skills tests and training program that Japanese drivers undergo to
obtain a Japanese CDL ensure the exemption provides a level of safety
that is equivalent to, or greater than, the level of safety obtained by
complying with the U.S. requirement for a CDL.
    FMCSA has previously determined the process for obtaining a
Japanese CDL is comparable to, or as effective as, the Federal CDL
knowledge and skills requirements of 49 CFR part 383 as enforced by the
States, and adequately assesses the driver's ability to operate CMVs in
the U.S. The initial notice of a similar nature was published by FMCSA
on October 16, 2003, granting this exemption to Isuzu for 31 Japanese
CDL drivers (68 FR 59677).

Request for Comments

    In accordance with 49 U.S.C. 31315(b)(4) and 31136(e), FMCSA
requests public comment on Isuzu's application for an exemption from
the

CDL requirements of49 CFR 383.23. The Agency will consider all comments
received by close of business on September 24, 2008. Comments will be
available for examination in the docket at the location listed under
the ADDRESSES section of this notice. The Agency will consider to the
extent practicable comments received in the public docket after the
closing date of the comment period.

    Issued on August 18, 2008.
 Larry W. Minor,
 Associate Administrator for Policy and Program Development.
[FR Doc. E8-19639 Filed 8-22-08; 8:45 am]

BILLING CODE 4910-EX-P


[Federal Register Volume 77, Number 218 (Friday, November 9, 2012)]
[Notices]
[Pages 67361-67362]
[FR Doc No: 2012-27452]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-ORD-2010-0674; FRL-9750-8]

Request for Information To Inform Hydraulic Fracturing Research
Related to Drinking Water Resources

AGENCY: Environmental Protection Agency (EPA).

ACTION: Request for information.

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SUMMARY: EPA is inviting the public to submit data and scientific
literature to inform EPA's research on the potential impacts of
hydraulic fracturing on drinking water resources.

DATES: EPA will accept data and literature in response to this request
until April 30, 2013.

ADDRESSES: Using the online method is preferred for submitting
information. Follow the online instructions at http://www.regulations.gov, and identify your submission with Docket ID No.
EPA-HQ-ORD-2010-0674.
    Additional methods for submission are:
     Email: Send information by electronic mail (email) to:
<EMAIL_ADDRESS>Attention Docket ID No. EPA-HQ-ORD-2010-0674.
     Fax: Fax information to:<PHONE_NUMBER>, Attention Docket
ID No. EPA-HQ-ORD-2010-0674.
     Mail: Send information by mail to: U.S. Environmental
Protection Agency, EPA Docket Center, Mail Code: 28221T, 1200
Constitution Ave. NW., Washington, DC 20460, Attention Docket ID No.
EPA-HQ-ORD-2010-0674.
     Hand Delivery or Courier: Deliver information to: EPA
Docket Center, EPA West Building, Room 3334, 1301 Constitution Ave.
NW., Washington, DC, Attention Docket ID No. EPA-HQ-ORD-2010-0674.
Deliveries are only accepted during the docket's normal hours of
operation, between 8:30 a.m. and 4:30 p.m. (Eastern), Monday through
Friday, excluding legal holidays. Special arrangements should be made
for deliveries of boxed information.
    Instructions: Direct your information to Docket ID No. EPA-HQ-ORD-
2010-0674. EPA's policy is that all information received will be
included in the public docket without change and may be made available
online at www.regulations.gov, including any personal information
provided, unless the comment includes information claimed to be
Confidential Business Information (CBI) or other information whose
disclosure is restricted by statute. Do not submit information that you
consider to be CBI or otherwise protected through www.regulations.gov
or email. The www.regulations.gov Web site is an ``anonymous access''
system, which means the EPA will not know your identity or contact
information unless you provide it in the body of your comment. If you
send an email comment directly to the EPA without going through
www.regulations.gov, your email address will be automatically captured
and included as part of the comment that is placed in the public docket
and made available on the Internet. If you submit information
electronically, EPA recommends that you include your name and other
contact information in the body of your comment and with any disk or
CD-ROM you submit. If EPA cannot read your comment due to technical
difficulties and cannot contact you for clarification, EPA may not be
able to consider your comment. Electronic files should avoid the use of
special characters, any form of encryption, and be free of any defects
or viruses. Information on a CD ROM should be formatted as a MS Word,
Rich Text or Adobe Acrobat PDF file. For additional information about
EPA's public docket visit the EPA Docket Center homepage at http://www.epa.gov/dockets.
    Docket: All documents in the docket are listed in the
www.regulations.gov index. Although listed in the index, some
information is not publicly available, e.g., CBI or other information
whose disclosure is restricted by statute. Certain other material, such
as copyrighted material, will be publicly available only in hard copy.
Publicly available docket materials are available either electronically
in www.regulations.gov or in hard copy at EPA Docket Center, EPA West
Building, Room 3334, 1301 Constitution Ave. NW., Washington, DC. The
Public Reading Room is open from 8:30 a.m. to 4:30 p.m. (Eastern),
Monday through Friday, excluding legal holidays. The telephone number
for the Public Reading Room is<PHONE_NUMBER>, and the telephone number
for the ORD Docket is<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: For further information contact Lisa
Matthews, Mail Code 8101R, Office of Research and Development, U.S.
Environmental Protection Agency, 1200 Pennsylvania Ave. NW.,
Washington, DC 20460; via phone/voice mail at:<PHONE_NUMBER>; via fax
at:<PHONE_NUMBER>; or via email at<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    In response to public concern, the U.S. Congress urged EPA to
conduct scientific research to examine the relationship between
hydraulic fracturing and drinking water resources. EPA is undertaking a
study to understand the potential impacts of hydraulic fracturing on
drinking water resources, if any, and to identify the driving factors
that may affect the severity and frequency of such impacts.
    The scope of the study includes the full hydraulic fracturing water
lifecycle--from water acquisition, through the mixing of chemicals and
injection of fracturing fluids, to the post-fracturing stage, including
the management of flowback and produced water and its ultimate
treatment and disposal. The study will include a review of the
published literature, analysis of existing data, scenario evaluation
and modeling, laboratory studies and case studies.
    To ensure that EPA is up-to-date on evolving hydraulic fracturing
practices and technologies, EPA is soliciting public involvement in
identifying relevant data and scientific literature specific to inform
EPA's research study on the potential impacts of hydraulic fracturing
on drinking water resources. While EPA conducts a thorough literature
search, there may be studies or other primary technical sources that
are not available through the open literature. EPA would appreciate
receiving information from the public to help inform current and future
research and ensure a robust record of scientific information.
Consistent with our commitment to using the highest quality
information, EPA prefers information which has been peer reviewed.
Interested persons may provide scientific analyses, studies and other
pertinent scientific information. EPA will consider all submissions but
will give preference to peer reviewed data and literature sources.

    Dated: November 5, 2012.
E. Ramona Trovato,
Associate Assistant Administrator, Office of Research and Development.
[FR Doc. 2012-27452 Filed 11-8-12; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 84, Number 67 (Monday, April 8, 2019)]
[Notices]
[Pages 13941-13942]
[FR Doc No: 2019-06774]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

[Docket No. USCG-2019-0247]

Information Collection Request to Office of Management and
Budget; OMB Control Number: 1625-0041

AGENCY: Coast Guard, DHS.

ACTION: Sixty-day notice requesting comments.

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SUMMARY: In compliance with the Paperwork Reduction Act of 1995, the
U.S. Coast Guard intends to submit an Information Collection Request
(ICR) to the Office of Management and Budget (OMB), Office of
Information and Regulatory Affairs (OIRA), requesting an extension of
its approval for the following collection of information: 1625-0041,
Various International Agreement Pollution Prevention Certificates and
Documents, and Equivalency Certificates; without change. Our ICR
describes the information we seek to collect from the public. Before
submitting this ICR to OIRA, the Coast Guard is inviting comments as
described below.

DATES: Comments must reach the Coast Guard on or before June 7, 2019.

ADDRESSES: You may submit comments identified by Coast Guard docket
number [USCG-2019-0247] to the Coast Guard using the Federal
eRulemaking Portal at https://www.regulations.gov. See the ``Public
participation and request for comments'' portion of the SUPPLEMENTARY
INFORMATION section for further instructions on submitting comments.
    A copy of the ICR is available through the docket on the internet
at https://www.regulations.gov. Additionally, copies are available
from: Commandant (CG-612), Attn: Paperwork Reduction Act Manager, U.S.
Coast Guard, 2703 Martin Luther King Jr. Ave. SE, STOP 7710,
Washington, DC 20593-7710.

FOR FURTHER INFORMATION CONTACT: Mr. Anthony Smith, Office of
Information Management, telephone<PHONE_NUMBER>, or fax<PHONE_NUMBER>,
for questions on these documents.

SUPPLEMENTARY INFORMATION:

Public Participation and Request for Comments

    This notice relies on the authority of the Paperwork Reduction Act
of 1995; 44 U.S.C. Chapter 35, as amended. An ICR is an application to
OIRA seeking the approval, extension, or renewal of a Coast Guard
collection of information (Collection). The ICR contains information
describing the Collection's purpose, the Collection's likely burden on
the affected public, an explanation of the necessity of the Collection,
and other important information describing the Collection. There is one
ICR for each Collection.
    The Coast Guard invites comments on whether this ICR should be
granted based on the Collection being necessary for the proper
performance of Departmental functions. In particular, the Coast Guard
would appreciate comments addressing: (1) The practical utility of the
Collection; (2) the accuracy of the estimated burden of the Collection;
(3) ways to enhance the quality, utility, and clarity of information
subject to the Collection; and (4) ways to minimize the burden of the
Collection on respondents, including the use of automated collection
techniques or other forms of information technology. Consistent with
the requirements of Executive Order 13771, Reducing Regulation and
Controlling Regulatory Costs, and Executive Order 13777, Enforcing the
Regulatory Reform Agenda, the Coast Guard is also requesting comments
on the extent to which this request for information could be modified
to reduce the burden on respondents. In response to your comments, we
may revise this ICR or decide not to seek an extension of approval for
the Collection. We will consider all comments and material received
during the comment period.
    We encourage you to respond to this request by submitting comments
and related materials. Comments must contain the OMB Control Number of
the ICR and the docket number of this

request, [USCG-2019-0247], and must be received by June 7, 2019.

Submitting Comments

    We encourage you to submit comments through the Federal eRulemaking
Portal at https://www.regulations.gov. If your material cannot be
submitted using https://www.regulations.gov, contact the person in the
FOR FURTHER INFORMATION CONTACT section of this document for alternate
instructions. Documents mentioned in this notice, and all public
comments, are in our online docket at https://www.regulations.gov and
can be viewed by following that website's instructions. Additionally,
if you go to the online docket and sign up for email alerts, you will
be notified when comments are posted.
    We accept anonymous comments. All comments received will be posted
without change to https://www.regulations.gov and will include any
personal information you have provided. For more about privacy and the
docket, you may review a Privacy Act notice regarding the Federal
Docket Management System in the March 24, 2005, issue of the Federal
Register (70 FR 15086).

Information Collection Request

    Title: Various International Agreement Pollution Prevention
Certificates and Documents, and Equivalency Certificates.
    OMB Control Number: 1625-0041.
    Summary: Required by the adoption of the International Convention
for the Prevention of Pollution from Ships (MARPOL 73/78) and other
international treaties, these certificates and documents are evidence
of compliance for U.S. vessels on international voyages. Without the
proper certificates or documents, a U.S. vessel could be detained in a
foreign port.
    Need: Compliance with treaty requirements aids in the prevention of
pollution from ships.
    Forms:

 CG-5352, International Oil Pollution Prevention Certificate
 CG-5352A, Form A Supplement to the International Oil Pollution
Prevention Certificate (IOPP Certificate)
 CG-5352B, Form B Supplement to the International Oil Pollution
Prevention Certificate (IOPP Certificate)
 CG-6047, International Sewage Pollution Prevention Equivalency
Certificate
 CG-6047A, Statement of Voluntary Compliance for Sewage
Pollution Prevention
 CG-6056, International Air Pollution Prevention Certificate
 CG-6056A, Supplement to International Air Pollution Prevention
Certificate
 CG-6056B, Statement of Voluntary Compliance for Annex VI of
MARPOL 73/78
 CG-6056C, Supplement to Statement of Voluntary Compliance for
Annex VI of MARPOL 73/78
 CG-6057, Statement of Voluntary Compliance
 CG-6059, International Anti-Fouling Systems Certificate
 CG-6059A, Record of Anti-Fouling Systems
 CG-6060, International Energy Efficiency (IEE) Certificate
 CG-6060A, Supplement to the International Energy Efficiency
Certificate (IEE Certificate)
 CG-9191, International Ballast Water Management Certificate
(Statement of Voluntary Compliance)

    Respondents: Owners, operators, or masters of vessels.
    Frequency: On occasion.
    Hour Burden Estimate: The estimated burden has decreased from
73,900 hours to 2,993 hours a year, primarily due to a decrease in the
estimated annual number of responses. This ICR also account for the new
Ballast Water Management Statement of Voluntary Compliance (form CG-
9191).

    Authority: The Paperwork Reduction Act of 1995; 44 U.S.C.
Chapter 35, as amended.

    Dated: April 2, 2019.
James D. Roppel,
Chief, Office of Information Management, U.S. Coast Guard.
[FR Doc. 2019-06774 Filed 4-5-19; 8:45 am]
 BILLING CODE 9110-04-P