[Federal Register Volume 75, Number 217 (Wednesday, November 10, 2010)]
[Notices]
[Page 69154]
[FR Doc No: 2010-28317]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Land Release for Long Island MacArthur Airport

AGENCY: Federal Aviation Administration, DOT.

ACTION: Notice, request for public comment.

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SUMMARY: The Federal Aviation Administration is requesting public
comment on the Long Island MacArthur Airport (ISP), Ronkonkoma, New
York, notice of proposed release from aeronautical use of approximately
17.69 acres of airport property, to allow for non-aeronautical
development.
    The parcel is located on the northeast corner of the Long Island
MacArthur Airport. The tract currently consists of 17.69 acres of land
and it is currently vacant. The requested release is for the purpose of
permitting the airport owner to sell and convey title of 17.62 acres
for use by the Long Island Rail Road.
    Documents reflecting the Sponsor's request are available, by
appointment only, for inspection at the Airport Managers office and the
FAA New York Airport District Office.

DATES: Comments must be received by December 10, 2010.

ADDRESSES: Comments on this application may be mailed or delivered to
the FAA at the following address: John R. Dermody, Manager, FAA New
York Airports District Office, 600 Old Country Road, Suite 446, Garden
City, New York 11530. In addition, a copy of any comments submitted to
the FAA must be mailed or delivered to Ms. Teresa Rizzuto, Airport
Manager, at the following address: 100 Arrival Avenue Ronkonkoma, NY.
11799-7398.

FOR FURTHER INFORMATION CONTACT: John R. Dermody, Manager, New York
Airports District Office, 600 Old Country Road, Suite 446, Garden City,
New York 11530; telephone<PHONE_NUMBER>; FAX<PHONE_NUMBER>; e-mail
John<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Section 125 of the Wendell H. Ford Aviation
Investment and Reform Act for the 1st Century (AIR21) requires the FAA
to provide an opportunity for public notice and comment before the
Secretary may waive a sponsor's Federal obligation to use certain
airport land for aeronautical use.

    Issued in Garden City, New York on November 2, 2010.
John R. Dermody,
Manager, New York Airports District Office, Eastern Region.
[FR Doc. 2010-28317 Filed 11-9-10; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 87, Number 205 (Tuesday, October 25, 2022)]
[Notices]
[Pages 64484-64485]
[FR Doc No: 2022-23210]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2017-0751; FRL-10274-01-OCSPP]

Pesticide Registration Review; Decisions and Case Closures for
Several Pesticides; Notice of Availability

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: This notice announces the availability of EPA's interim or
final registration review decisions for the following chemicals:
pasteuria species, pseudomonas syringae; and trimethylamine and
trimethylamine hydrochloride. In addition, this notice announces the
closure of the registration review case for cryolite, furfural,
mefluidide, and sabadilla alkaloids because the last U.S. registrations
for these pesticides have been canceled.

ADDRESSES: The docket for this action, identified under docket
identification (ID) number EPA-HQ-OPP-2017-0751, is available online at
https://www.regulations.gov. Additional instructions on visiting the
docket, along with more information about dockets generally, is
available at https://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT:
    For pesticide specific information, contact: The Chemical Review
Manager for the pesticide of interest identified in Table 1 in Unit IV.
    For general information on the registration review program,
contact: Melanie Biscoe, Pesticide Re-evaluation Division (7508P),
Office of Pesticide Programs, Environmental Protection Agency, 1200
Pennsylvania Ave. NW, Washington, DC 20460-0001; telephone number: 202-
566-0701; email address: [email protected].

SUPPLEMENTARY INFORMATION:

I. General Information

Does this action apply to me?

    This action is directed to the public in general and may be of
interest to a wide range of stakeholders including environmental, human
health, farm worker, and agricultural advocates; the chemical industry;
pesticide users; and members of the public interested in the sale,
distribution, or use of pesticides. Since others also may be
interested, the Agency has not attempted to describe all the specific
entities that may be affected by this action. If you have any questions
regarding the applicability of this action to a particular entity,
consult the pesticide specific contact person listed under FOR FURTHER
INFORMATION CONTACT: For pesticide specific information, contact: The
Chemical Review Manager for the pesticide of interest identified in
Table 1 in Unit IV.

II. Background

    Registration review is EPA's periodic review of pesticide
registrations to ensure that each pesticide continues to satisfy the
statutory standard for registration, that is, the pesticide can perform
its intended function without unreasonable adverse effects on human
health or the environment. As part of the registration review process,
the Agency has completed interim or final decisions for all pesticides
listed in Table 1 in Unit IV. Through this program, EPA is ensuring
that each pesticide's registration is based on current scientific and
other knowledge, including its effects on human health and the
environment.

III. Authority

    EPA is conducting its registration review of the chemicals listed
in Table 1 in Unit IV pursuant to section 3(g) of the Federal
Insecticide, Fungicide, and Rodenticide Act (FIFRA) and the Procedural
Regulations for Registration Review at 40 CFR part 155, subpart C.
Section 3(g) of FIFRA provides, among other things, that the
registrations of pesticides are to be reviewed every 15 years. Under
FIFRA, a pesticide product may be registered or remain registered only
if it meets the statutory standard for registration given in FIFRA
section 3(c)(5) (7 U.S.C. 136a(c)(5)). When used in accordance with
widespread and commonly recognized practice, the pesticide product must
perform its intended function without unreasonable adverse effects on
the environment; that is, without any unreasonable risk to man or the
environment, or a human dietary risk from residues that result from the
use of a pesticide in or on food.

IV. What action is the Agency taking?

    Pursuant to 40 CFR 155.58, this notice announces the availability
of EPA's interim or final registration review decisions for the
pesticides shown in Table 1. The registration review decisions are
supported by rationales included in the docket established for each
chemical.

                      Table 1--Registration Review Interim and Final Decisions Being Issued
----------------------------------------------------------------------------------------------------------------
                                                                                Chemical review manager
 Registration review case name and No.                   Docket ID No.                  and contact information
----------------------------------------------------------------------------------------------------------------
Pasteuria; species Case Numbers: 6526,   EPA-HQ-OPP-2021-0614                          Andrew Queen
 6527, 6535.                                                                            [email protected],
<PHONE_NUMBER>.
Pseudomonas syringae; Case Number 6007.  EPA-HQ-OPP-2022-0088                          Bibiana Oe,
                                                                                [email protected],
<PHONE_NUMBER>.
Trimethylamine and Trimethylamine        EPA-HQ-OPP-2021-0852                          Monica Thapa,
 Hydrochloride; Case No. 6304.                                                          [email protected],
<PHONE_NUMBER>.
----------------------------------------------------------------------------------------------------------------

    The proposed decisions and proposed interim registration review
decisions for the chemicals in the table above were posted to the
docket and the public was invited to submit any comments or new
information. EPA addressed the comments or information received during
the 60-day comment period for the proposed interim decisions in the
discussion for each pesticide listed in the table. Comments from the
60-day comment period that were received may or may not have affected
the Agency's interim or final decision. Pursuant to 40 CFR 155.58(c),
the registration review case docket for the chemicals listed in the
Table will remain open until all actions required in the decision have
been completed.
    This document also announces the closure of the registration review
case for cryolite (Case Number 0087, Docket ID Number EPA-HQ-OPP-2011-
0173), furfural (Case Number 7050, Docket ID Number EPA-HQ-OPP-2014-
0764), mefluidide (Case Number 2370, Docket ID Number EPA-HQ-2015-
0786), and sabadilla alkaloids (Case Number 3128, Docket ID Number EPA-
HQ-OPP-2015-0063) because the last U.S. registrations for these
pesticides have been canceled.
    Background on the registration review program is provided at:
https://www.epa.gov/pesticide-reevaluation.
    Authority: 7 U.S.C. 136 et seq.

    Dated: October 19, 2022.
Mary Elissa Reaves,
Director, Pesticide Re-Evaluation Division, Office of Pesticide
Programs.
[FR Doc. 2022-23210 Filed 10-24-22; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 79, Number 84 (Thursday, May 1, 2014)]
[Notices]
[Pages 24732-24734]
[FR Doc No: 2014-09912]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2014-N-0366]

Pilot Program for Center for Devices and Radiological Health
Electronic Submission of Premarket Notification Submissions

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA) Center for Devices and
Radiological Health (CDRH) is announcing the availability of a CDRH
eSubmissions Pilot Program (eSubmissions Pilot), which will be a new
pathway that will guide the user through constructing and submitting
their 510(k) submissions electronically without the requirement for
submitting a hard copy or a compact disc. Participation in the
eSubmissions Pilot is open to applicants whose device submissions would
be reviewed in either of two branches in CDRH's Office of Device
Evaluation (ODE), the Cardiac Diagnostic Devices Branch and the
Peripheral Interventional Devices Branch, and is limited to unbundled,
traditional 510(k) submissions for classified devices only. The
eSubmissions Pilot will use the existing eSubmitter software for data
acquisition and the existing Electronic Submission Gateway (ESG) for
submitting (the eSubmissions Pilot is not intended to evaluate the
existing eSubmitter software or the existing ESG). The eSubmissions
Pilot is intended to provide industry and CDRH staff the opportunity to
evaluate the 510(k) eSubmission with regards to the content (wording of
questions, help text and guides), layout, and flow of the questions.

DATES: FDA will begin accepting requests to participate in the
eSubmissions Pilot immediately. See the ``Procedures'' section for
instructions on how to submit a request.

FOR FURTHER INFORMATION CONTACT: Patrick Axtell, Center for Devices and
Radiological Health, Food and Drug Administration, 10903 New Hampshire
Ave., Bldg. 66, Rm. 1566, Silver Spring, MD 20993-0002,
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Background

    FDA has been moving toward transforming all regulatory submissions
from paper to electronic methods. Since January 1999, FDA has accepted
voluntary electronic submissions for certain types of regulatory
submissions. FDA presently utilizes eSubmitter as a platform for
submitting many types of submissions across several Centers. The
eSubmitter platform contains templates for many types of submissions
specific to those Centers and any template can be chosen by the user
for constructing and submitting the appropriate type of submission. The
510(k) eSubmission program introduces a new template in eSubmitter for
use in submitting 510(k)s to ODE.
    FDA presently utilizes the ESG for the receipt and processing of
many types of electronic regulatory submissions (http://www.fda.gov/ForIndustry/ElectronicSubmissionsGateway/default.htm). The ESG
automates the receipt, acknowledgment, routing and notification of
electronic submissions via the Internet and meets FDAs standards of
electronic information exchange.
    The benefits to industry of this pilot program include, but are not
limited to:

     Application of the ``Refuse to Accept Policy for 510(k)s''
(RTA) guidance document will be waived during the pilot (i.e., no
submissions submitted via the software will be subject to an acceptance
review as outlined in the RTA guidance).
     A guided interface that leads the sponsor through the
process of constructing and submitting their 510(k) submissions. Built
into the software are a number of features that ensure appropriate
regulatory submission standards and recommendations are met or
considered. Further, software features will prompt the inclusion of
information that will avert some of the common procedural and
administrative issues reviewers find during their reviews.
     The 510(k) eSubmissions are expected to decrease both the
time spent by industry creating and submitting the 510(k).
     The 510(k) eSubmission process may also reduce the number
of questions asked by FDA to which the applicant must officially
respond.
     Since the 510(k) submission process will be completely
electronic, time will not be lost in physical transit of the submission
to FDA.
     The eSubmission software is intended to be a guide for
users to instruct them as to what is required and recommended when
submitting a 510(k), and will act as an aid for learning about the
process. The use of electronic signatures will allow sponsors to
legally sign documents without the need for printing, scanning and
uploading.
    The benefits to FDA include, but are not limited to:
     A reduction in required resources and time spent in
processing the submission for review.
     Easier and faster reviews due to a standardized submission
structure.
    510(k) eSubmissions also support the Secretary's health IT
priorities to harness information technology to improve health care and
patient safety. The information learned and experiences gained from the
eSubmissions Pilot will be used to optimize the process by which data
and documents are obtained and ensure that the software infrastructure
functions properly and electronic signatures work as intended.

II. CDRH eSubmissions Pilot

    The eSubmissions Pilot presents a voluntary process to interested
sponsors. This notice outlines: (1) The guiding principles underlying
the eSubmissions Pilot; (2) the scope of the eSubmissions Pilot; and
(3) the procedures CDRH intends to follow for the eSubmissions Pilot.
The eSubmission process works similarly to commercially available tax
preparation software packages such that it guides the sponsor through
the submission process. Help text, links, embedded guides, and other
aids are intended to assist the user and allow novice 510(k) submitters
to navigate through the process of submitting a 510(k) submission. The
software will consist of textual suggestions and questions designed to
obtain all of the data FDA needs to review the submission and ensure no
required data are omitted. FDA intends to collect data via text fields,
checkboxes, dropdown menus, and, where it would be burdensome to
collect data via these methods, file attachments. For example, FDA
intends to collect much of the administrative data as well as basic
information, such as the Indications for Use, via the software
interface, not via file attachments. However, instruction manuals,
software documentation, performance testing and other large documents
may be attached.

A. Guiding Principles

    The following basic principles underline the eSubmissions Pilot
described in this document. CDRH intends that these principles create a
common understanding between the sponsor and CDRH about the goals and
parameters of the eSubmissions Pilot:
    1. FDA believes the use of the eSubmission process will result in
administratively complete 510(k) submissions and will not be conducting
a separate acceptance review for the files submitted through the
eSubmissions Pilot.
    2. The eSubmission will serve as the only submission required; no
other copies of the submission will be required.
    3. The submission of Amendments and Supplements needs to be
completed through the software during the eSubmissions Pilot. FDA
encourages sponsor and reviewer interaction during the review process.
    4. FDA will not publicly disclose participation of a sponsor in the
eSubmissions Pilot, unless the sponsor consents or has already made
this information public, or disclosure is required by law.
    5. Participating in this eSubmissions Pilot does not guarantee
clearance of a sponsor's 510(k) submission, nor is a sponsor precluded
from withdrawing from the eSubmissions Pilot and pursuing a
conventional 510(k)s submission and review through the current pathway.
    6. Due to FDA resource issues, FDA intends to limit the
eSubmissions Pilot to approximately 50 to 100 submissions. FDA may
further limit the number of submissions from an individual firm as
resources and eSubmissions Pilot needs allow.
    7. An Extensible Markup Language (XML) Schema Definition (XSD) for
the eSubmissions Pilot template was produced, and FDA intends to allow
future submissions using alternative approaches to eSubmitter (e.g.,
via proprietary software purchased or produced by a medical device
firm), as long as the submission is compliant with the XSD. If FDA
commits to also receiving Regulated Product Submissions (RPS) in the
future, FDA intends to expand this method of receipt to accept RPS
packages. In addition, a different, more modern platform may be used
for future eSubmissions other than eSubmitter.

B. Scope of eSubmissions Pilot

    Voluntary participation in the eSubmissions Pilot is open to
sponsors whose submissions are reviewed in ODE's Division of
Cardiovascular Devices Cardiac Diagnostic Devices Branch or Peripheral
Interventional Devices Branch. We encourage 510(k) sponsors of all
device types, including those reviewed in other branches, to review the
software interface and provide feedback via http://www.regulations.gov
or the Division of Dockets Management (see Comments). The eSubmissions
Pilot is limited to unbundled, traditional 510(k) submissions for
classified devices only.\1\
---------------------------------------------------------------------------

    \1\ We are not accepting third party 510(k)s or Combination
Products in the eSubmissions Pilot at this time.
---------------------------------------------------------------------------

C. Procedures

    The following procedures have been developed to manage the CDRH
eSubmissions Pilot effectively:
    1. Under the eSubmissions Pilot, 510(k) submissions will be
reviewed according to CDRH standard procedures.
    2. eSubmission will be available for use and submission 24 hours a
day and 7 days a week. However, if a 510(k) is received outside of
normal business hours (Monday to Friday, 8 a.m. to 4:30 p.m. excluding
Federal holidays or dates the Federal Government is shutdown), the
submission receipt date will be considered the next business day.
    3. Participation in the eSubmissions Pilot does not affect
submission user fee obligations. If the required user fee is not paid
at the time of submission, the

receipt date will be the receipt date of a complete User Fee Coversheet
via eSubmission. If a User Fee Coversheet is submitted outside of
normal business hours (Monday to Friday, 8 a.m. to 4:30 p.m. excluding
Federal holidays or dates the Federal Government is shutdown), the User
Fee Coversheet receipt date will be considered the next business day.
    4. Volunteers interested in participating in the CDRH 510(k)
eSubmissions Pilot should contact eSubmissions Pilot staff by email at
<EMAIL_ADDRESS>This email address should also be used to report
issues and ask questions. General feedback and comments about the
eSubmissions Pilot, 510(k) template, and process can be provided via
http://www.regulations.gov or the Division of Dockets Management (see
Comments).
    5. Additional information on the CDRH 510(k) eSubmissions Pilot is
available at http://www.fda.gov/ForIndustry/FDAeSubmitter/ucm221506.htm.

III. Duration of the eSubmissions Pilot

    FDA intends to accept requests for participation in the
eSubmissions Pilot through September 30, 2014, or as resources and
eSubmissions Pilot needs allow. Modifications to the CDRH 510(k)
eSubmissions Pilot will be made available at http://www.fda.gov/ForIndustry/FDAeSubmitter/ucm221506.htm to all eSubmissions Pilot
participants and stakeholders.

IV. Comments

    Interested persons may submit electronic comments regarding the
eSubmissions Pilot for CDRH Electronic Submission of Premarket
Notification Submissions to http://www.regulations.gov or written
comments to the Division of Dockets Management (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852. It is
only necessary to send one set of comments. Identify comments with the
docket number found in brackets in the heading of this document.
Received comments may be seen in the Division of Dockets Management
between 9 a.m. and 4 p.m., Monday through Friday, and will be posted to
the docket at http://www.regulations.gov.

    Dated: April 25, 2014.
Leslie Kux,
Assistant Commissioner for Policy.
[FR Doc. 2014-09912 Filed 4-30-14; 8:45 am]
BILLING CODE 4160-01-P


[Federal Register: March 22, 2006 (Volume 71, Number 55)]
[Notices]
[Page 14560-14562]
[DOCID:fr22mr06-112]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-27263; 812-13065]

Man-Glenwood Lexington, LLC, et al.; Notice of Application

March 16, 2006.
AGENCY: Securities and Exchange Commission (``Commission'')

ACTION:  Notice of an application under section 6(c) of the Investment
Company Act of 1940 (the ``Act'' for an exemption from sections 18(c)
and 18(i) of the Act and an order pursuant to section 17(d) of the Act
and rule 17d-1 under the Act.

-----------------------------------------------------------------------)

    Summary of Application: Applicants request an order to permit
certain registered closed-end management companies to issue multiple
classes of shares and to impose asset-based distribution fees.
    Applicants: Man-Glenwood Lexington, LLC (``Lexington''), Man-
Glenwood Lexington TEI, LLC (``TEI''), Glenwood Capital Investments,
L.L.C. (``Adviser''), and Man Investments Inc. (``Distributor'').
    Filing Dates: The application was filed on February 11, 2004, and
amended on February 24, 2006, and March 15, 2006.
    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 April 10, 2006, 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, c/o Steven Zoric
Esq., Man Investments Inc., 123 N. Wacker Drive, 28th Floor, Chicago,
IL 60606.

FOR FURTHER INFORMATION CONTACT: Julia Kim Gilmer, Senior Counsel, at
(202) 551-6871, or Janet M. Grossnickle, Branch Chief, at (202) 551-
6821 (Division of Investment Management, Office of Investment Company
Regulation).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained for a fee at the
Commission's Public Reference Desk, 100 F Street, NE., Washington, DC
20549-0102 (tel.<PHONE_NUMBER>).

Applicants' Representations

    1. Lexington, TEI, and Man-Glenwood Lexington Associates Portfolio,
LLC (the ``Portfolio Company'') are continuously offered closed-end
management investment companies registered under the Act and organized
as Delaware limited liability companies. Lexington and TEI
(collectively, the ``Feeder Funds'') operate as feeder funds in a
master-feeder structure and invest all or substantially all of their
investable assets in the Portfolio Company. The Portfolio Company,
which acts as the master fund to the Feeder Funds, is a fund of hedge
funds.
    2. The Adviser is registered as an investment adviser under the
Investment Advisers Act of 1940 and serves as investment adviser to the
Portfolio Company. The Distributor, a broker-dealer registered under
the Securities Exchange Act of 1934 (``1934 Act''), acts as the
principal underwriter to the Feeder Funds. The Distributor is under
common control with the Adviser and is an affiliated person, as defined
in section 2(a)(3) of the Act, of the Adviser.
    Applicants request that the order also apply to any other
continuously offered registered closed-end management investment
company existing now or in the future for which the Adviser, the
Distributor, or any entity controlling, controlled by, or under common
control with the Adviser, the Distributor, or any entity controlling,
controlled by, or under common control with the Adviser or the
Distributor acts as investment adviser or principal underwriter, and
which provides periodic liquidity with respect to its proportionate
ownership interests (``Units'') pursuant to rule 13e-4 under the 1934
Act (collectively, with the Feeder Funds, the ``Funds'').\1\
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    \1\ Any Fund relying on the requested relief will do so in a
manner consistent with the terms and conditions of the application.
Applicants represent that each investment company presently
intending to rely on the requested relief is listed as an applicant.
---------------------------------------------------------------------------

    3. The Feeder Funds continuously offer their Units to the public
pursuant to rule 415 under the Securities Act of 1933 at net asset
value and each currently offers a single class of Units subject to a
front-end sales load as a percentage of the public offering price and
an investor servicing fee. Units of the Feeder Funds are not listed on
any securities exchange and do not trade on an over-the-counter system
such as the National Association of Securities Dealers Automated
Quotation System. Applicants do not expect that any secondary market
will for the Units. To provide a limited degree of liquidity to
investors, the Feeder Funds ordinarily will offer to repurchase Units
quarterly at their then current net asset value pursuant to rule 13e-4
under the 1934 Act. The amount, timing and terms of any repurchase
offer would remain within the discretion of each Feeder Fund's Board.

    4. The Feeder Funds seek the flexibility to be structured as
multiple class funds and propose to offer two additional classes of
Units.\2\ Class A Units would be offered at net asset value, plus a
front-end sales charge and an annual asset-based service and/or
distribution fee of up to 0.25% and 0.75%, respectively, of average
monthly net assets. Class 1 Units would be offered at net asset value
with no front-end sales load or asset-based service and/or distribution
fees and would be offered only to institutions and investors who
compensate their financial intermediary directly. The Funds may in the
future adopt these classes or another sales charge structure.
---------------------------------------------------------------------------

    \2\ The Feeder Funds may designate their existing Units as
Initial Class Units. The Initial Class would be closed to new
investors and would only be available to those Unit holders who
currently hold Initial Class Units.
---------------------------------------------------------------------------

    5. Applicants represent that any asset-based service and
distribution fees will comply with the provisions of rule 2830(d) of
the Conduct Rules of the National Association of Securities Dealers,
Inc. (``NASD Sales Charge Rule'') as if that rule applied to the Feeder
Funds. Applicants also represent that each Fund will disclose in its
prospectus, the fees, expenses and other characteristics of each class
of Units offered for sale by the prospectus as is required for open-end
multiple class funds under Form N-1A. As is required for open-end
funds, each Fund will disclose its expenses in shareholder reports, and
disclose any arrangements that result in breakpoints in or elimination
of sales loads in its prospectus.\3\ Each Fund and the Distributor will
also comply with any requirements that may be adopted by the Commission
regarding disclosure at the point of sale and in transaction
confirmations about the costs and conflicts of interest arising out of
the distribution of open-end investment company shares, and regarding
prospectus disclosure of sales loads and revenue sharing arrangements
as if those requirements applied to the Funds and the Distributor.\4\
---------------------------------------------------------------------------

    \3\ See Shareholder Reports and Quarterly Portfolio Disclosure
of Registered Management Investment Companies, Investment Company
Act Release No. 26372 (February 27, 2004) (adopting release)
(requiring open-end investment companies to disclose fund expenses
in shareholder reports); and Disclosure of Breakpoint Discounts by
Mutual Funds, Investment Company Act Release No. 26464 (June 7,
2004) (adopting release) (requiring open-end investment companies to
provide prospectus disclosure of certain sales load information)
    \4\ Confirmation Requirements and Point of Sale Disclosure
Requirements for Transactions and Certain Manual Funds and Other
Securities, and Other Confirmation Requirement Amendments, and
Amendments to the Registration Form for Mutual Funds, Investment
Company Act Release No. 26341 (January 29, 2004) (proposing
release).
---------------------------------------------------------------------------

    6. Each Feeder Fund will allocate all expenses incurred by it among
the various classes of Units based on the net assets of the Feeder Fund
attributable to each class, except that the net asset value and
expenses of each class will reflect distribution fees, service fees,
and any other incremental expenses of that class. Expenses of a Feeder
Fund allocated to a particular class of Units will be borne on a pro
rata basis by each outstanding Unit of that class. The Funds will not
offer exchange privileges. Units will not be subject to an early
withdrawal charge.

Applicants' Legal Analysis

Multiple Classes of Units

    1. Section 18(c) of the Act provides, in relevant part, that a
closed-end investment company may not issue or sell any senior security
if, immediately thereafter, the company has outstanding more than one
class of senior security. Applicants state that the creation of
multiple classes of Units of the Funds may be prohibited by section
18(c).
    2. Section 18(i) of the Act provides that each share of stock
issued by a registered management investment company will be a voting
stock and have equal voting rights with every other outstanding voting
stock. Applicants state that permitting multiple classes of Units of
the Funds may violate section 18(i) of the Act because each class would
be entitled to exclusive voting rights with respect to matters solely
related to that class.
    3. Section 6(c) of the Act provides that the Commission may exempt
any person, security or transaction or any class or classes of persons,
securities or transactions from any provision of the Act, or from any
rule under the Act, if and to the extent 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 request an exemption under section
6(c) from sections 18(c) and 18(i) to permit the Funds to issue
multiple classes of Units.
    4. Applicants submit that the proposed allocation of expenses and
voting rights among multiple classes is equitable and will not
discriminate against any group or class of Unit holders. Applicants
submit that the proposed arrangements would permit the Funds to
facilitate the distribution of their Units and provide investors with a
broader choice of Unit holder options. Applicants assert that the
proposed closed-end investment company multiple class structure does
not raise the concerns underlying section 18 of the Act to any greater
degree than open-end investment companies' multiple class structures
that are permitted by rule 18f-3 under the Act. A Fund may create
additional classes of Units or vary the characteristics of the proposed
Class A and Class I Units, but each Fund will comply with the
provisions of rule 18f-3 as if it were an open-end investment company.

Asset-Based Distribution Fees

    1. Section 17(d) of the Act and rule 17d-1 under the Act prohibit
an affiliated person of a registered investment company or an
affiliated person of such person, acting as principal, from
participating in or effecting any transaction in connection with any
joint enterprise or joint arrangement in which the investment company
participates unless the Commission issues an order permitting the
transaction. In reviewing applications submitted under section 17(d)
and rule 17d-1, the Commission considers whether the participation of
the investment company in a joint enterprise or joint arrangement is
consistent with the provisions, policies and purposes of the Act, and
the extent to which the participation is on a basis different from or
less advantageous than that of other participants.
    2. Rule 17d-3 under the Act provides an exemption from section
17(d) and rule 17d-1 to permit open-end investment companies to enter
into distribution arrangements pursuant to rule 12b-1 under the Act.
Applicants request an order under section 17(d) and rule 17d-1 under
the Act to permit the Funds to impose asset-based distribution fees.
Applicants have agreed to comply with rules 12b-1 and 17d-3 as if those
rules applied to closed-end investment companies.

Applicants' Condition

    Applicants agree that any order granting the requested relief will
be subject to the following condition:
    Applicants will comply with the provisions of rules 12b-1, 17d-3,
and 18f-3 under the Act, as amended from time to time, as if those
rules applied to closed-end management investment companies, and will
comply with the NASD Sales Charge Rule, as amended from time to time,
as if that rule applied to all closed-end management investment
companies.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Nancy M. Morris,
Secretary.
[FR Doc. 06-2764 Filed 3-21-06; 8:45 am]

BILLING CODE 8010-01-M