[Federal Register Volume 81, Number 209 (Friday, October 28, 2016)]
[Notices]
[Pages 75178-75181]
[FR Doc No: 2016-26055]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 32324; 812-14542]

ALAIA Market Linked Trust and Beech Hill Securities, Inc.; Notice
of Application

October 24, 2016.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of an application under (a) section 6(c) of the
Investment Company Act of 1940 (``Act'') for an exemption from sections
2(a)(32), 2(a)(35), 14(a), 19(b), 22(d) and 26(a)(2)(C) of the Act and
rules 19b-1 and rule 22c-1 thereunder and (b) sections 11(a) and 11(c)
of the Act for approval of certain exchange and rollover privileges.

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    Applicants: ALAIA Market Linked Trust and Beech Hill Securities
Inc. (``BHSI'').\1\
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    \1\ Applicants also request relief for future unit investment
trusts (collectively, with ALAIA Market Linked Trust, the
``Trusts'') and series of the Trusts (``Series'') that are sponsored
by BHSI or any entity controlling, controlled by or under common
control with BHSI (together with BHSI, the ``Depositors''). Any
future Trust and Series that relies on the requested order will
comply with the terms and conditions of the application. All
existing entities that currently intend to rely on the requested
order are named as applicants.
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    Summary of Application: Applicants request an order to permit
certain unit investment trusts (``UIT'') to: (a) Impose sales charges
on a deferred basis and waive the deferred sales charge in certain
cases; (b) offer unitholders certain exchange and rollover options; (c)
publicly offer units without requiring the Depositor to take for its
own account $100,000 worth of units; and (d) distribute capital gains
resulting from the sale of portfolio securities within a reasonable
time after receipt.
    Filing Dates: The application was filed on September 3, 2015, and
amended on January 6, 2016, and October 17, 2016.
    Hearing or Notification of Hearing: An order granting the requested
relief 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 November 17, 2016, and should be accompanied by proof of
service on applicants, in the form of an affidavit, or for lawyers, a
certificate of service. Pursuant to rule 0-5 under the Act, hearing
requests should state the nature of the writer's interest, any facts

bearing upon the desirability of a hearing on the matter, 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, Securities and Exchange Commission, 100 F Street
NE., Washington, DC 20549-1090; Applicants, c/o Anna T. Pinedo, Esq.,
Morrison & Foerster LLP, 250 West 55th Street, New York, NY 10019-9601.

FOR FURTHER INFORMATION CONTACT: Bruce R. MacNeil, Senior Counsel, at
(202) 551-6817, or Daniele Marchesani, 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 an applicant
using the Company name box, at http://www.sec.gov/search/search.htm or
by calling<PHONE_NUMBER>.

Applicants' Representations

    1. ALAIA Market Linked Trust is a UIT that is registered under the
Act. Any future Trust will be a registered UIT. BHSI, a New York
corporation, is registered under the Securities Exchange Act of 1934 as
a broker-dealer and is the Depositor of ALAIA Market Linked Trust. Each
Series will be created by a trust indenture between the Depositor and a
banking institution or trust company as trustee (``Trustee'').
    2. The Depositor acquires a portfolio of securities, which it
deposits with the Trustee in exchange for certificates representing
units of fractional undivided interest in the Series' portfolio
(``Units''). The Units are offered to the public through the Depositor
and dealers at a price which, during the initial offering period, is
based upon the aggregate market value of the underlying securities, or,
the aggregate offering side evaluation of the underlying securities if
the underlying securities are not listed on a securities exchange, plus
a front-end sales charge, a deferred sales charge or both. The maximum
sales charge may be reduced in compliance with rule 22d-1 under the Act
in certain circumstances, which are disclosed in the Series'
prospectus.
    3. The Depositor may, but is not legally obligated to, maintain a
secondary market for Units of an outstanding Series. Other broker-
dealers may or may not maintain a secondary market for Units of a
Series. If a secondary market is maintained, investors will be able to
purchase Units on the secondary market at the current public offering
price plus a front-end sales charge. If such a market is not maintained
at any time for any Series, holders of the Units (``Unitholders'') of
that Series may redeem their Units through the Trustee.

A. Deferred Sales Charge and Waiver of Deferred Sales Charge Under
Certain Circumstances

    1. Applicants request an order to the extent necessary to permit
one or more Series to impose a sales charge on a deferred basis
(``DSC''). For each Series, the Depositor would set a maximum sales
charge per Unit, a portion of which may be collected ``up front''
(i.e., at the time an investor purchases the Units). The DSC would be
collected subsequently in installments (``Installment Payments'') as
described in the application. The Depositor would not add any amount
for interest or any similar or related charge to adjust for such
deferral.
    2. When a Unitholder redeems or sells Units, the Depositor intends
to deduct any unpaid DSC from the redemption or sale proceeds. When
calculating the amount due, the Depositor will assume that Units on
which the DSC has been paid in full are redeemed or sold first. With
respect to Units on which the DSC has not been paid in full, the
Depositor will assume that the Units held for the longest time are
redeemed or sold first. Applicants represent that the DSC collected at
the time of redemption or sale, together with the Installment Payments
and any amount collected up front, will not exceed the maximum sales
charge per Unit. Under certain circumstances, the Depositor may waive
the collection of any unpaid DSC in connection with redemptions or
sales of Units. These circumstances will be disclosed in the prospectus
for the relevant Series and implemented in accordance with rule 22d-1
under the Act.
    3. Each Series offering Units subject to a DSC will state the
maximum charge per Unit in its prospectus. In addition, the prospectus
for such Series will include the table required by Form N-1A (modified
as appropriate to reflect the difference between UITs and open-end
management investment companies) and a schedule setting forth the
number and date of each Installment Payment, along with the duration of
the collection period. The prospectus also will disclose that portfolio
securities may be sold to pay the DSC if distribution income is
insufficient and that securities will be sold pro rata, if practicable,
otherwise a specific security will be designated for sale.

B. Exchange Option and Rollover Option

    1. Applicants request an order to the extent necessary to permit
Unitholders of a Series to exchange their Units for Units of another
Series (``Exchange Option'') and Unitholders of a Series that is
terminating to exchange their Units for Units of a new Series of the
same type (``Rollover Option''). The Exchange Option and Rollover
Option would apply to all exchanges of Units sold with a front-end
sales charge, a DSC or both.
    2. A Unitholder who purchases Units under the Exchange Option or
Rollover Option would pay a lower sales charge than that which would be
paid for the Units by a new investor. The reduced sales charge will be
reasonably related to the expenses incurred in connection with the
administration of the DSC program, which may include an amount that
will fairly and adequately compensate the Depositor and participating
underwriters and brokers for their services in providing the DSC
program.

Applicants' Legal Analysis

A. DSC and Waiver of DSC

    1. Section 4(2) of the Act defines a ``unit investment trust'' as
an investment company that issues only redeemable securities. Section
2(a)(32) of the Act defines a ``redeemable security'' as a security
that, upon its presentation to the issuer, entitles the holder to
receive approximately his or her proportionate share of the issuer's
current net assets or the cash equivalent of those assets. Rule 22c-1
under the Act requires that the price of a redeemable security issued
by a registered investment company for purposes of sale, redemption or
repurchase be based on the security's current net asset value
(``NAV''). Because the collection of any unpaid DSC may cause a
redeeming Unitholder to receive an amount less than the NAV of the
redeemed Units, applicants request relief from section 2(a)(32) and
rule 22c-1.
    2. Section 22(d) of the Act and rule 22d-1 under the Act require a
registered investment company and its principal underwriter and dealers
to sell securities only at the current public offering price described
in the investment company's prospectus, with the exception of sales of
redeemable securities at prices that reflect scheduled variations in
the sales load. Section 2(a)(35) of the Act defines the term ``sales
load'' as the difference between the sales price and the portion of the
proceeds invested by the

depositor or trustee. Applicants request relief from section 2(a)(35)
and section 22(d) to permit waivers, deferrals or other scheduled
variations of the sales load.
    3. Under section 6(c) of the Act, the Commission may exempt classes
of transactions, if and 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. Applicants state that their proposal meets
the standards of section 6(c). Applicants state that the provisions of
section 22(d) are intended to prevent (a) riskless trading in
investment company securities due to backward pricing, (b) disruption
of orderly distribution by dealers selling shares at a discount, and
(c) discrimination among investors resulting from different prices
charged to different investors. Applicants assert that the proposed DSC
program will present none of these abuses. Applicants further state
that all scheduled variations in the sales load will be disclosed in
the prospectus of each Series and applied uniformly to all investors,
and that applicants will comply with all the conditions set forth in
rule 22d-1.
    4. Section 26(a)(2)(C) of the Act, in relevant part, prohibits a
trustee or custodian of a UIT from collecting from the trust as an
expense any payment to the trust's depositor or principal underwriter.
Because the Trustee's payment of the DSC to the Depositor may be deemed
to be an expense under section 26(a)(2)(C), applicants request relief
under section 6(c) from section 26(a)(2)(C) to the extent necessary to
permit the Trustee to collect Installment Payments and disburse them to
the Depositor. Applicants submit that the relief is appropriate because
the DSC is more properly characterized as a sales load.

B. Exchange Option and Rollover Option

    1. Sections 11(a) and 11(c) of the Act prohibit any offer of
exchange by a UIT for the securities of another investment company
unless the terms of the offer have been approved in advance by the
Commission. Applicants request an order under sections 11(a) and 11(c)
for Commission approval of the Exchange Option and the Rollover Option.

C. Net Worth Requirement

    1. Section 14(a) of the Act requires that a registered investment
company have $100,000 of net worth prior to making a public offering.
Applicants state that each Series will comply with this requirement
because the Depositor will deposit more than $100,000 of securities.
Applicants assert, however, that the Commission has interpreted section
14(a) as requiring that the initial capital investment in an investment
company be made without any intention to dispose of the investment.
Applicants state that, under this interpretation, a Series would not
satisfy section 14(a) because of the Depositor's intention to sell all
the Units of the Series.
    2. Rule 14a-3 under the Act exempts UITs from section 14(a) if
certain conditions are met, one of which is that the UIT invest only in
``eligible trust securities,'' as defined in the rule. Applicants state
that they may not rely on rule 14a-3 because certain Series
(collectively, ``Structured Series'') will invest all or a portion of
their assets in equity securities, shares of registered investment
companies, or Flexible Exchange[supreg] Options (``FLEX Options'') \2\
which do not satisfy the definition of eligible trust securities.
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    \2\ Applicants state that a Structured Series will invest in
FLEX Options with expiration dates that coincide with the Structured
Series' maturity date and any relief granted from the provisions of
sections 14(a) and 19(b) of the Act and rule 19b-1 under the Act
included in the Order will not extend to any Series that intends to
hold a derivative security other than FLEX Options.
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    3. Applicants request an exemption under section 6(c) of the Act to
the extent necessary to exempt the Structured Series from the net worth
requirement in section 14(a). Applicants state that the Series and the
Depositor will comply in all respects with the requirements of rule
14a-3, except that the Structured Series will not restrict their
portfolio investments to ``eligible trust securities.''

D. Capital Gains Distribution

    1. Section 19(b) of the Act and rule 19b-1 under the Act provide
that, except under limited circumstances, no registered investment
company may distribute long-term gains more than once every twelve
months. Rule 19b-1(c), under certain circumstances, exempts a UIT
investing in eligible trust securities (as defined in rule 14a-3) from
the requirements of rule 19b-1. Because the Structured Series do not
limit their investments to eligible trust securities, however, the
Structured Series will not qualify for the exemption in paragraph (c)
of rule 19b-1. Applicants therefore request an exemption under section
6(c) from section 19(b) and rule 19b-1 to the extent necessary to
permit capital gains earned in connection with the sale of portfolio
securities to be distributed to Unitholders along with the Structured
Series' regular distributions. In all other respects, applicants will
comply with section 19(b) and rule 19b-1.
    2. Applicants state that their proposal meets the standards of
section 6(c). Applicants assert that any sale of portfolio securities
would be triggered by the need to meet Trust expenses, Installment
Payments, or by redemption requests, events over which the Depositor
and the Structured Series do not have control. Applicants further state
that, because principal distributions must be clearly indicated in
accompanying reports to Unitholders as a return of principal and will
be relatively small in comparison to normal dividend distributions,
there is little danger of confusion from failure to differentiate among
distributions.

Applicants' Conditions

    Applicants agree that any order granting the requested relief will
be subject to the following conditions:

A. DSC Relief and Exchange and Rollover Options

    1. Whenever the Exchange Option or Rollover Option is to be
terminated or its terms are to be amended materially, any holder of a
security subject to that privilege will be given prominent notice of
the impending termination or amendment at least 60 days prior to the
date of termination or the effective date of the amendment, provided
that: (a) No such notice need be given if the only material effect of
an amendment is to reduce or eliminate the sales charge payable at the
time of an exchange, to add one or more new Series eligible for the
Exchange Option or the Rollover Option, or to delete a Series which has
terminated; and (b) no notice need be given if, under extraordinary
circumstances, either (i) there is a suspension of the redemption of
Units of the Series under section 22(e) of the Act and the rules and
regulations promulgated thereunder, or (ii) a Series temporarily delays
or ceases the sale of its Units because it is unable to invest amounts
effectively in accordance with applicable investment objectives,
policies and restrictions.
    2. An investor who purchases Units under the Exchange Option or
Rollover Option will pay a lower sales charge than that which would be
paid for the Units by a new investor.
    3. The prospectus of each Series offering exchanges or rollovers
and any sales literature or advertising that mentions the existence of
the Exchange Option or Rollover Option will disclose that the Exchange
Option and the Rollover Option are subject to modification, termination
or suspension

without notice, except in certain limited cases.
    4. Any DSC imposed on a Series' Units will comply with the
requirements of subparagraphs (1), (2) and (3) of rule 6c-10(a) under
the Act.
    5. Each Series offering Units subject to a DSC will include in its
prospectus the disclosure required by Form N-1A relating to deferred
sales charges (modified as appropriate to reflect the differences
between UITs and open-end management investment companies) and a
schedule setting forth the number and date of each Installment Payment.

B. Net Worth Requirement

    Applicants will comply in all respects with the requirements of
rule 14a-3 under the Act, except that the Structured Series will not
restrict their portfolio investments to ``eligible trust securities.''

    For the Commission, by the Division of Investment Management,
under delegated authority.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-26055 Filed 10-27-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 82, Number 131 (Tuesday, July 11, 2017)]
[Rules and Regulations]
[Pages 31922-31924]
[FR Doc No: 2017-14513]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 770

[EPA-HQ-OPPT-2017-0243, FRL-9963-05]
RIN 2070-AK30

Labeling Relief; Formaldehyde Emission Standards for Composite
Wood Products

AGENCY: Environmental Protection Agency (EPA).

ACTION: Direct final rule.

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SUMMARY: EPA is taking direct final action to amend a final rule that
published in the Federal Register on December 12, 2016 concerning
formaldehyde emission standards for composite wood products. The
amendment will allow compliant composite wood products and finished
goods that contain compliant composite wood products that were
manufactured prior to December 12, 2017 to be labeled as Toxic
Substances Control Act (TSCA) Title VI compliant. This means that
regulated composite wood products and finished goods that meet the
required formaldehyde emissions standards could be voluntarily labeled
as compliant as soon as compliance can be achieved. This will enhance
regulatory flexibility and facilitate a smoother supply chain
transition to compliance with the rule's broader requirements, as well
as promote lower formaldehyde emitting products entering commerce
earlier than under the rule as originally published. EPA believes that
the amendment is non-controversial and does not expect to receive any
adverse comments. However, in addition to this direct final rulemaking,
elsewhere in this issue of the Federal Register, EPA is promulgating
the amendment as a notice of proposed rulemaking that will be used in
the event of adverse comment on the amendments within this direct final
action.

DATES: This final rule is effective on August 25, 2017 without further
notice, unless EPA receives adverse comment by July 26, 2017. If EPA
receives adverse comment, we will publish a timely withdrawal in the
Federal Register informing the public that the rule will not take
effect.

ADDRESSES: The docket for this action, identified by docket
identification (ID) number EPA-HQ-OPPT-2017-0243, is available at
http://www.regulations.gov or at the Office of Pollution Prevention and
Toxics Docket (OPPT Docket), Environmental Protection Agency Docket
Center (EPA/DC), West William Jefferson Clinton Bldg., Rm. 3334, 1301
Constitution Ave. NW., Washington, DC. 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 (202)
566-1744, and the telephone number for the OPPT Docket is (202) 566-
0280. Please review the visitor instructions and additional information
about the docket available at http://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT: For technical information contact:
Erik Winchester, National Program Chemicals Division, Office of
Pollution Prevention and Toxics, Environmental Protection Agency, 1200
Pennsylvania Ave. NW., Washington, DC 20460-0001; telephone number:
(202) 564-6450; email address<EMAIL_ADDRESS>    For general information contact: The TSCA-Hotline, ABVI-Goodwill,
422 South Clinton Ave., Rochester, NY 14620; telephone number: (202)
554-1404; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Does this action apply to me?

    You may be affected by this direct final rule if you manufacture
(including import), sell, supply, or offer for sale hardwood plywood,
medium-density fiberboard, particleboard, and/or products containing
these composite wood materials in the United States. The following list
of North American Industrial Classification System (NAICS) codes is not
intended to be exhaustive, but rather provides a guide to help readers
determine whether this document applies to them. Potentially affected
entities may include:
     Veneer, plywood, and engineered wood product manufacturing
(NAICS code 3212).
     Manufactured home (mobile home) manufacturing (NAICS code
321991).
     Prefabricated wood building manufacturing (NAICS code
321992).
     Furniture and related product manufacturing (NAICS code
337).
     Furniture merchant wholesalers (NAICS code 42321).
     Lumber, plywood, millwork, and wood panel merchant
wholesalers (NAICS code 42331).
     Other construction material merchant wholesalers (NAICS
code 423390), e.g., merchant wholesale distributors of manufactured
homes (i.e., mobile homes) and/or prefabricated buildings.
     Furniture stores (NAICS code 4421).
     Building material and supplies dealers (NAICS code 4441).
     Manufactured (mobile) home dealers (NAICS code 45393).
     Motor home manufacturing (NAICS code 336213).
     Travel trailer and camper manufacturing (NAICS code
336214).
     Recreational vehicle (RV) dealers (NAICS code 441210).

     Recreational vehicle merchant wholesalers (NAICS code
423110).
    If you have any questions regarding the applicability of this
action, please consult the technical person listed under FOR FURTHER
INFORMATION CONTACT.

II. Background

A. What action is the Agency taking?

    Following promulgation of EPA's final rule addressing formaldehyde
emission standards for composite wood products (81 FR 89674, December
12, 2016) (FRL-9949-90), industry stakeholders raised concerns to the
Agency that the final rule's prohibition on labeling composite wood
products and finished goods containing composite wood products as TSCA
Title VI compliant before the December 12, 2017 compliance date would
risk a substantial supply chain disruption for these products. These
stakeholders requested that EPA allow labeling of compliant composite
wood products and finished goods containing composite wood products as
TSCA Title VI compliant before December 12, 2017. EPA shares the
concerns of industry stakeholders regarding the prohibition on labeling
composite wood products and finished goods containing composite wood
products as TSCA Title VI compliant before December 12, 2017. EPA
believes that the risk of unintentional supply chain disruption is
substantial, though through prompt regulatory action, avoidable. As
such, EPA will eliminate the prohibition at Sec.  770.45(f) of the
December 12, 2016 final rule (see 81 FR 89741) on labeling composite
wood products and finished goods containing composite wood products as
TSCA Title VI compliant before December 12, 2017.
    The agency believes that removal of the labeling prohibition will
have no impact on the ability of stakeholders to comply with the TSCA
Title VI formaldehyde emission standards insofar as stakeholders are
already working with their California Air Resources Board (CARB)
approved Third Party Certifier (TPC) to ensure compliance with CARB's
Airborne Toxic Control Measures (ATCM) to reduce formaldehyde emissions
from composite wood products, and as the stakeholders suggest, they are
currently labeling composite wood products and finished goods
containing composite wood products as CARB-compliant, and thus are also
meeting the TSCA Title VI formaldehyde emission standards.
    In addition, EPA generally expects that the transition will be
smooth for stakeholders already receiving certifications of product
compliance by a CARB-approved TPC to also begin receiving product
compliance certifications by EPA TSCA Title VI TPCs under Sec.  770.15
of the December 12, 2016 final rule (see 81 FR 89735) because Sec.
770.7(d) of the December 12, 2016 final rule provided reciprocity
provisions under which a CARB-approved TPC may be recognized by the
Agency as an EPA TSCA Title VI TPC (see 81 FR 89733). Producers of
composite wood products and TPCs should note that TPCs, including CARB-
approved TPCs working under the TSCA Title VI reciprocity provisions,
must be recognized by EPA prior to certifying any composite wood
products as TSCA Title VI compliant. TPCs can begin to apply for EPA
recognition after the May 22, 2017 rule effective date by following the
procedures outlined in Sec.  770.7(c)(2) and Sec.  770.8.
    Although EPA is eliminating Sec.  770.45(f) of the December 12,
2016 final rule that prohibits labeling composite wood products and
finished goods containing composite wood products as TSCA Title VI
compliant before December 12, 2017, the other labeling requirements at
Sec.  770.45 will still apply. Notably, anyone that would label
composite wood products as TSCA Title VI compliant will still be
required to include the CARB or EPA provided identification number of
the EPA TSCA Title VI TPC and a statement that products are certified
by that TPC as TSCA Title VI compliant. For this reason, this direct
final rule is not expected to result in any reduction of environmental
or public health protection. However, this action is expected to
provide greater certainty to entities throughout the supply chain that
composite wood products and finished goods containing composite wood
product are compliant with TSCA Title VI and enhance consumer
confidence earlier than currently provided for in the December 12, 2016
final rule. EPA acknowledges that the delay of the effective date of
the December 12, 2016 final rule (see 82 FR 8499 and 82 FR 14324) may
have given rise to additional stakeholder concerns about that rule's
respective implementation compliance dates. As a result, EPA has
determined that those compliance dates should be extended and has
initiated a separate action to extend them.
    EPA is therefore publishing this direct final rule, and a notice of
proposed rulemaking elsewhere in this issue of the Federal Register to
address the elimination of the early labeling provision, as described
in Units II.A.1 and II.A.2.
    1. Direct Final Rule. EPA agrees with the stakeholders' requests
and will eliminate the prohibition at Sec.  770.45(f) of the December
12, 2016 final rule (see 81 FR 89741) on labeling composite wood
products and finished goods containing composite wood products as TSCA
Title VI compliant before December 12, 2017.
    2. Proposed rule. EPA believes that the amendment is non-
controversial and does not expect to receive any adverse comments.
However, in addition to this direct final rule, elsewhere in this issue
of the Federal Register, EPA is promulgating the amendment as a notice
of proposed rulemaking (See FRL-9963-05). If EPA receives no adverse
comment, the Agency will not take further action on the proposed rule
and the direct final rule will become effective as provided in this
action. If EPA receives relevant adverse comment, the Agency will
publish a timely withdrawal in the Federal Register informing the
public that this direct final action will not take effect. EPA would
then address all adverse public comments in a response to comments
document in a subsequent final rule, based on the proposed rule.

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

    These regulations are established under authority of Section 601 of
TSCA, 15 U.S.C. 2697.

III. Statutory and Executive Order Reviews

    Additional information about these statutes and Executive Orders
can be found at http://www2.epa.gov/laws-regulations/laws-and-executive-orders.

A. Executive Order 12866: Regulatory Planning and Review; Executive
Order 13563: Improving Regulation and Regulatory Review; and Executive
Order 13777: Reducing Regulation and Controlling Regulatory Costs

    This action is not a significant regulatory action and was
therefore not submitted to the Office of Management and Budget (OMB)
for review under Executive Orders 12866 (58 FR 51735, October 4, 1993)
and 13563 (76 FR 3821, January 21, 2011). In addition, since this
action does not contain a new requirement or impose any new burden or
costs, the action qualifies as a burden reduction action under
Executive Order 13771 (82 FR 9339, February 3, 2017). Although the
change reduces burden, EPA did not attempt to determine the extent of
that burden reduction. As such, this action can only be used for the 2
for 1 off-set described in Executive Order 13771.

B. Paperwork Reduction Act (PRA)

    This action does not impose any new information collection burden
under the PRA, 44 U.S.C. 3501 et seq., because it does not create any
new reporting or recordkeeping obligations. OMB has previously approved
the information collection activities contained in the existing
regulations and has assigned OMB control number 2070-0185 (EPA ICR No.
2446.02).

C. Regulatory Flexibility Act (RFA)

    The Agency certifies that this action will not have a significant
economic impact on a substantial number of small entities under the
RFA, 5 U.S.C. 601 et seq. In making this determination, the impact of
concern is any significant adverse economic impact on small entities.
An agency may certify that a rule will not have a significant economic
impact on a substantial number of small entities if the rule relieves
regulatory burden, has no net burden or otherwise has a positive
economic effect on the small entities subject to the rule. This direct
final rule will allow regulated entities to voluntarily label compliant
products prior December 12, 2017. The direct final rule will ease the
transition of panel producers, fabricators, importers, distributors,
and retailers from CARB labeling to TSCA labeling, since under the
December 12, 2016 final rule, it would be difficult for some of them to
time their production and inventory so that products that are labeled
as TSCA compliant are available starting on but not before the
compliance date. Since early labeling is voluntary, any firms that do
not find this activity to be beneficial can wait until December 12,
2017 to begin offering labeled products for sale. EPA therefore
concludes that this action will have a nominally positive economic
effect on the small entities subject to the rule.

D. Unfunded Mandates Reform Act (UMRA)

    This action does not contain any unfunded mandate as described in
UMRA, 2 U.S.C. 1531-1538, and does not significantly or uniquely affect
small governments. The action imposes no enforceable duty on any state,
local or tribal governments or the private sector.

E. Executive Order 13132: Federalism

    This action does not have federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999). It will not have
substantial direct effects 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.

F. Executive Order 13175: Consultation and Coordination With Indian
Tribal Governments

    This action does not have tribal implications as specified in
Executive Order 13175 (65 FR 67249, November 9, 2000). This final rule
will not impose substantial direct compliance costs on Indian tribal
governments. Thus, Executive Order 13175 does not apply to this action.

G. Executive Order 13045: Protection of Children From Environmental
Health Risks and Safety Risks

    This action is not subject to Executive Order 13045 (62 FR 19885,
April 23, 1997) because it is not economically significant as defined
in Executive Order 12866, and because EPA does not believe the
environmental health or safety risks addressed by this action present a
disproportionate risk to children. As addressed in Unit II.A., this
action would not materially alter the requirements for labeling
composite wood products and finished goods containing composite wood
products as TSCA Title VI compliant. Rather, the final rule will allow
TSCA Title VI compliant products to be labeled as such earlier sooner
than currently permitted.

H. Executive Order 13211: Actions Concerning Regulations That
Significantly Affect Energy Supply, Distribution, or Use

    This action is not a ``significant energy action'' as defined in
Executive Order 13211 (66 FR 28355, May 22, 2001), because it is not
likely to have a significant adverse effect on the supply, distribution
or use of energy.

I. National Technology Transfer and Advancement Act (NTTAA)

    This rulemaking does not involve technical standards that would
require the consideration of voluntary consensus standards pursuant to
NTTAA section 12(d), 15 U.S.C. 272 note.

J. Executive Order 12898: Federal Actions To Address Environmental
Justice in Minority Populations and Low-Income Populations

    EPA has determined that the human health or environmental risk
addressed by this action will not have potential disproportionately
high and adverse human health or environmental effects on minority,
low-income or indigenous populations, as specified in Executive Order
12898 (59 FR 7629, February 16, 1994). As addressed in Unit II.A., this
action would not materially alter the requirements for labeling
composite wood products and finished goods containing composite wood
products as TSCA Title VI compliant. Rather, the final rule will allow
TSCA Title VI compliant products to be labeled as such earlier sooner
than currently permitted.

K. Congressional Review Act (CRA)

    This action is subject to the CRA and EPA will submit a rule report
to each House of the Congress and to the Comptroller General of the
United States. This action is not a ``major rule'' as defined by 5
U.S.C. 804(2).

List of Subjects in 40 CFR Part 770

    Environmental protection, Formaldehyde, Incorporation by reference,
Reporting and recordkeeping requirements, Third-party certification,
Toxic substances, Wood.

    Dated: June 21, 2017.
Wendy Cleland-Hamnett,
Acting Assistant Administrator, Office of Chemical Safety and Pollution
Prevention.

    For the reasons set out in the preamble, title 40, chapter I, of
the Code of Federal Regulations is amended as follows:

PART 770--FORMALDEHYDE STANDARDS FOR COMPOSITE WOOD PRODUCTS

0
1. The authority citation for part 770 continues to read as follows:

    Authority:  15 U.S.C. 2697(d).

Sec.  770.45   [Amended]

0
2. In Sec.  770.45, remove paragraph (f).

[FR Doc. 2017-14513 Filed 7-10-17; 8:45 am]
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[Federal Register Volume 88, Number 244 (Thursday, December 21, 2023)]
[Notices]
[Page 88485]
[FR Doc No: 2023-28124]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Docket No. FAA-2013-0259]

Random Drug and Alcohol Testing Percentage Rates of Covered
Aviation Employees for the Period January 1, 2024 to December 31, 2024;
Correction

AGENCY: Federal Aviation Administration (FAA), Department of
Transportation (DOT).

ACTION: Random drug and alcohol testing percentage rates of covered
aviation employees for the period January 1, 2024 to December 31, 2024;
correction.

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

SUMMARY: On December 15, 2023, the Federal Aviation Administration
(FAA) published a correction to the Random Drug and Alcohol Testing
Percentage Rates of Covered Aviation Employees for the Period January
1, 2024 to December 31, 2024. In that document, the FAA inadvertently
provided the incorrect docket number in the heading and corrections
sections. This document corrects that error.

DATES: This correction is effective December 21, 2023.

FOR FURTHER INFORMATION CONTACT: Ms. Vicky Dunne, Federal Aviation
Administration, Office of Aerospace Medicine, Drug Abatement Division,
Program Policy Branch; Email [email protected]; Telephone (202)
267-8442.

SUPPLEMENTARY INFORMATION: On December 15, 2023, the Federal Aviation
Administration (FAA) published the Random Drug and Alcohol Testing
Percentage Rates of Covered Aviation Employees for the Period January
1, 2024 to December 31, 2024; Correction. In the heading and
corrections section of the document, the docket number appeared as
``Docket Number FAA-2023-25488'' instead of ``Docket No. FAA-2013-
0259.'' This document corrects that error.

Correction

    On page 87046 of the Federal Register, Vol. 88 No. 240, published
December 15, 2023, in the second and third columns, the following
correction is made to the second line of the Heading and thirteenth
line of the Corrections section.

Docket No. FAA-2013-0259

    Issued in Washington, DC.
Nancy Rodriguez Brown,
Director, Drug Abatement Division.
[FR Doc. 2023-28124 Filed 12-20-23; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register: October 16, 2009 (Volume 74, Number 199)]
[Rules and Regulations]
[Page 53161-53162]
[DOCID:fr16oc09-7]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2009-0405; Airspace Docket No. 09-ASW-12]

Amendment of Class D and Class E Airspace; New Orleans NAS, LA

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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

SUMMARY: This action amends Class D and Class E airspace at New Orleans
NAS, LA. Changes in control tower operating hours and cancellation of
the NDB RWY 4 instrument approach for Class E airspace have made this
action necessary for the continued safety and management of Instrument
Flight Rule (IFR) operations at New Orleans NAS Alvin Callender Field.

DATES: 0901 UTC, December 17, 2009. The Director of the Federal
Register approves this incorporation by reference action under 1 CFR
Part 51, subject to the annual revision of FAA Order 7400.9 and
publication of conforming amendments.

FOR FURTHER INFORMATION CONTACT: Scott Enander, Central Service Center,
Operations Support Group, Federal Aviation Administration, Southwest
Region, 2601 Meacham Blvd., Fort Worth, TX 76137; telephone (817) 321-
7716.

SUPPLEMENTARY INFORMATION:

History

    On July 31, 2009, the FAA published in the Federal Register a
notice of proposed rulemaking to amend Class D and Class E airspace at
New Orleans NAS, LA (74 FR 38141, Docket No. FAA-2009-0405). Interested
parties were invited to participate in this rulemaking effort by
submitting written comments on the proposal to the FAA. No comments
were received. Class D airspace designations are published in paragraph
5000 of FAA Order 7400.9T signed August 27, 2009, and effective
September 15, 2009, which is incorporated by reference in 14 CFR Part
71.1. Class E airspace designations are published in paragraph 6002 of
FAA Order 7400.9T signed August 27, 2009, and effective September 15,
2009, which is incorporated by reference in 14 CFR Part 71.1. The Class
D and Class E airspace designations listed in this document will be
published subsequently in the Order.

The Rule

    This action amends Title 14 Code of Federal Regulations (14 CFR)
Part 71 by amending Class D and Class E airspace at New Orleans NAS
Alvin Callender Field, LA, for the safety and management of IFR
operations at the airport.
    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
Therefore, this regulation: (1) Is not a ``significant regulatory
action'' under Executive Order 12866; (2) is not a ``significant rule''
under DOT Regulatory Policies and Procedures (44 FR 11034; February 26,
1979); and (3) does not warrant preparation of a regulatory evaluation
as the anticipated impact is so minimal. Since this is a routine matter
that will only affect air traffic procedures and air navigation, it is
certified that this rule, when promulgated, will not have a significant
economic impact on a substantial number of small entities under the
criteria of the Regulatory Flexibility Act.
    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the U.S. Code. Subtitle 1, Section 106, describes
the authority of the FAA Administrator. Subtitle VII, Aviation
Programs, describes in more detail the scope of the agency's authority.
This rulemaking is promulgated under the authority described in
Subtitle VII, Part A, Subpart I, Section 40103. Under that section, the
FAA is charged with prescribing regulations to assign the use of
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it amends controlled airspace at New Orleans NAS Alvin Callender
Field, LA.

List of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

Adoption of the Amendment

0
In consideration of the foregoing, the Federal Aviation Administration
amends 14 CFR Part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for 14 CFR Part 71 continues to read as
follows:

    Authority:  49 U.S.C. 106(g), 40103, 40113, 40120; E.O. 10854,
24 FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

0
2. The incorporation by reference in 14 CFR Part 71.1 of the Federal
Aviation Administration Order 7400.9T, Airspace Designations and
Reporting Points, signed August 27, 2009, and effective September 15,
2009, is amended as follows:

Paragraph 5000 Class D Airspace.

* * * * *

ASW LA D New Orleans NAS, Alvin Callender Field, LA [Amended]

New Orleans NAS, Alvin Callender Field, LA
    (Lat. 29[deg]49'31'' N., long. 90[deg]02'06'' W.)
Harvey VORTAC
    (Lat. 29[deg]51'01'' N., long. 90[deg]00'11'' W.)

    That airspace extending upward from the surface to and including
2,500 feet MSL within a 4.7-mile radius of New Orleans NAS Alvin
Callender Field and within 1.3 miles each side of the 228[deg]
radial of the Harvey VORTAC extending from the 4.7-mile radius to
5.6 miles southwest of the airport, and within 1.3 miles each side
of the 058[deg] radial of the Harvey VORTAC extending from the 4.7-
mile radius to 6 miles northeast of the airport, excluding that
airspace within the New Orleans, LA, Class B airspace area. This
Class D airspace area is effective during the specific dates and
times established in advance by a Notice to Airmen. The effective
date and time will thereafter be continuously published in the
Airport/Facility Directory.
* * * * *

Paragraph 6002 Class E airspace designated as surface areas.

* * * * *

ASW LA E2 New Orleans NAS, Alvin Callender Field, LA [Amended]

New Orleans NAS, Alvin Callender Field, LA
    (Lat. 29[deg]49'31'' N., long. 90[deg]02'06'' W.)
Harvey VORTAC
    (Lat. 29[deg]51'01'' N., long. 90[deg]00'11'' W.)

    Within a 4.7-mile radius of New Orleans NAS Alvin Callender
Field and within 1.3 miles each side of the 228[deg] radial of the
Harvey VORTAC extending from the 4.7-mile radius to 5.6 miles
southwest of the airport, and within 1.3 miles each side of the
058[deg] radial of the Harvey VORTAC extending from the 4.7-mile
radius to 6 miles northeast of the airport, excluding that airspace
within the New Orleans, LA, Class B airspace area. This Class E
airspace area is effective during the specific dates and times
established in advance by a Notice to Airmen. The effective date and
time will thereafter be continuously published in the Airport/
Facility Directory.
* * * * *

    Issued in Fort Worth, Texas, on October 1, 2009.
Walter L. Tweedy,
Acting Manager, Operations Support Group, ATO Central Service Center.
[FR Doc. E9-24626 Filed 10-15-09; 8:45 am]

BILLING CODE 4910-13-P


[Federal Register Volume 85, Number 7 (Friday, January 10, 2020)]
[Rules and Regulations]
[Pages 1267-1268]
[FR Doc No: 2020-00106]

========================================================================
Rules and Regulations
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by the Superintendent of Documents.

========================================================================

Federal Register / Vol. 85, No. 7 / Friday, January 10, 2020 / Rules
and Regulations

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2019-0625; Airspace Docket No. 19-AWP-2]
RIN 2120-AA66

Amendment of Class E Airspace; Redding, CA

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This action modifies Class E airspace designated as an
extension to a Class D or Class E surface area, and Class E airspace
extending upward from 700 feet above the surface at Redding Municipal
Airport, Redding CA. This action also removes Class E airspace
extending upward from 1,200 feet above the surface; this airspace is
wholly contained within the Rogue Valley en route airspace and
duplication is not necessary. Additionally, this action updates the
geographic coordinates of the airport to match the FAA's database.
Lastly, this action removes references to the Redding VOR/DME and
Lassen NDB from the airspace legal description, as well as the airspace
extensions associated with the navigational aids.

DATES: Effective 0901 UTC, March 26, 2020. The Director of the Federal
Register approves this incorporation by reference action under Title 1
Code of Federal Regulations part 51, subject to the annual revision of
FAA Order 7400.11 and publication of conforming amendments.

ADDRESSES: FAA Order 7400.11D, Airspace Designations and Reporting
Points, and subsequent amendments can be viewed online at https://www.faa.gov//air_traffic/publications/. For further information, you
can contact the Airspace Policy Group, Federal Aviation Administration,
800 Independence Avenue SW, Washington, DC 20591; telephone: (202) 267-
8783. The Order is also available for inspection at the National
Archives and Records Administration (NARA). For information on the
availability of FAA Order 7400.11D at NARA, email<EMAIL_ADDRESS>or go to https://www.archives.gov/federal-register/cfr/ibr-locations.html.

FOR FURTHER INFORMATION CONTACT: Matthew Van Der Wal, Federal Aviation
Administration, Western Service Center, Operations Support Group, 2200
S 216th Street, Des Moines, WA 98198; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Authority for This Rulemaking

    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the United States Code. 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. This rulemaking is promulgated under the authority described
in Subtitle VII, Part A, Subpart I, Section 40103. Under that section,
the FAA is charged with prescribing regulations to assign the use of
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it would amend Class E airspace at Redding Municipal Airport,
Redding, CA, to ensure safety and management of Instrument Flight Rules
(IFR) operations at the airport.

History

    The FAA published a notice of proposed rulemaking in the Federal
Register (84 FR 52051; October 1, 2019) for Docket No. FAA-2019-0625 to
amend Class E airspace designated as an extension to a Class D or Class
E surface area and that airspace extending upward from 700 feet above
the surface at Redding Municipal Airport, Redding, CA. Interested
parties were invited to participate in this rulemaking effort by
submitting written comments on the proposal to the FAA. No comments
were received.
    Class E airspace designations are published in paragraph 6004 and
6005 of FAA Order 7400.11D, dated August 8, 2018, and effective
September 15, 2019, which is incorporated by reference in 14 CFR 71.1.
The Class E airspace designation listed in this document will be
published subsequently in the Order.

Availability and Summary of Documents for Incorporation by Reference

    This document amends FAA Order 7400.11D, Airspace Designations and
Reporting Points, dated August 8, 2019, and effective September 15,
2019. FAA Order 7400.11D is publicly available as listed in the
ADDRESSES section of this document. FAA Order 7400.11D lists Class A,
B, C, D, and E airspace areas, air traffic service routes, and
reporting points.

The Rule

    This amendment to Title 14 Code of Federal Regulations (14 CFR)
part 71 modifies Class E airspace designated as an extension to a Class
D or Class E surface area within 2.3 miles west and 2.5 miles east of
the 193[deg] bearing from the airport, extending from the 4.3-mile
radius of the airport to 7.3 miles south of the Redding Municipal
Airport.
    This action also modifies the Class E airspace extending upward
from 700 feet above the surface within a 6.8-mile radius of the
airport, and within 1.1 miles west and 1 mile east of the 360[deg]
bearing from the airport, extending from the 6.8-mile radius to 12.5
miles north of the airport, and within 8.1 miles west and 4 miles east
of the 193[deg] bearing extending from the airport to 16 miles south of
the Redding Municipal Airport.
    Additionally, this action removes Class E airspace extending upward
from 1,200 feet above the surface as this airspace is wholly contained
within the Rogue Valley en route airspace and duplication is not
necessary.
    Lastly, this action removes the Redding VOR/DME, the Lassen NDB
from the airspace legal description and the airspace extensions
associated with the navigational aids.
    Class E airspace designations are published in paragraphs 6004 and
6005 of FAA Order 7400.11D, dated August 8, 2019, and effective
September 15, 2019, which is incorporated by reference in 14 CFR 71.1.
The Class E airspace designations listed in this document will be
published subsequently in the Order.
    FAA Order 7400.11, Airspace Designations and Reporting Points, is
published yearly and effective on September 15.

Regulatory Notices and Analyses

    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current, is
non-controversial and unlikely to result in adverse or negative
comments. It, therefore: (1) Is not a ``significant regulatory action''
under Executive Order 12866; (2) is not a ``significant rule'' under
DOT Regulatory Policies and Procedures (44 FR 11034; February 26,
1979); and (3) does not warrant preparation of a regulatory evaluation
as the anticipated impact is so minimal. Since this is a routine matter
that will only affect air traffic procedures and air navigation, it is
certified that this rule, when promulgated, would not have a
significant economic impact on a substantial number of small entities
under the criteria of the Regulatory Flexibility Act.

Environmental Review

    The FAA has determined that this action qualifies for categorical
exclusion under the National Environmental Policy Act in accordance
with FAA Order 1050.1F, ``Environmental Impacts: Policies and
Procedures,'' paragraph 5-6.5a. This airspace action is not expected to
cause any potentially significant environmental impacts, and no
extraordinary circumstances exist that warrant preparation of an
environmental assessment.

List of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

Adoption of the Amendment

    In consideration of the foregoing, the Federal Aviation
Administration amends 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for 14 CFR part 71 continues to read as
follows:

    Authority: 49 U.S.C. 106(f), 106(g), 40103, 40113, 40120; E.O.
10854, 24 FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

0
2. The incorporation by reference in 14 CFR 71.1 of FAA Order 7400.11D,
Airspace Designations and Reporting Points, dated August 8, 2019, and
effective September 15, 2019, is amended as follows:

Paragraph 6004 Class E Airspace Areas Designated as an Extension to
a Class D or Class E Surface Area.

* * * * *

AWP CA E4 Redding, CA

Redding Municipal Airport, CA
    (Lat. 40[deg]30'32'' N, long. 122[deg]17'36'' W)

    That airspace extending upward from the surface within 2.3 miles
west and 2.5 miles east of the 193[deg] bearing from the airport,
extending from the 4.3-mile radius of airport to 7.3 miles south of
the Redding Municipal Airport. This Class E airspace area is
effective during the specific dates and times established in advance
by a Notice to Airmen. The effective date and time will thereafter
be continuously published in the Chart Supplement.

Paragraph 6005 Class E Airspace Areas Extending Upward From 700
Feet or More Above the Surface of the Earth.

* * * * *

AWP CA E5 Redding, CA

Redding Municipal Airport, CA
    (Lat. 40[deg]30'32'' N, long. 122[deg]17'36'' W)

    That airspace extending upward from 700 feet above the surface
within a 6.8-mile radius of the airport and within 1.1 miles west
and 1 mile east of the 360[deg] bearing from the airport, extending
from the 6.8-mile radius to 12.5 miles north of the airport and
within 8.1 miles west and 4 miles east of the 193[deg] bearing
extending from the airport to 16 miles south of the Redding
Municipal Airport.

    Issued in Seattle, Washington, on January 2, 2020.
Shawn M. Kozica,
Group Manager, Operations Support Group, Western Service Center.
[FR Doc. 2020-00106 Filed 1-9-20; 8:45 am]
 BILLING CODE 4910-13-P