[Federal Register Volume 81, Number 169 (Wednesday, August 31, 2016)]
[Proposed Rules]
[Pages 59950-59951]
[FR Doc No: 2016-20898]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 60 and 62

[EPA-HQ-OAR-2016-0033; FRL-9951-72-OAR]
RIN 2060-AS84

Clean Energy Incentive Program Design Details; Extension of
Comment Period

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule; extension of comment period.

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SUMMARY: On June 30, 2016, the Environmental Protection Agency (EPA)
proposed a rule titled, ``Clean Energy Incentive Program Design
Details.'' The EPA is extending the comment period on the proposed
rule, which was scheduled to close on September 2, 2016, by 60 days
until November 1, 2016. The EPA is making this change to allow for
requested tribal consultation in response to the proposed rule.

DATES: The public comment period for the proposed rule published in the
Federal Register on June 30, 2016 (81 FR 42940), and extended at 81 FR
47325 (July 21, 2016) is being further extended. Written comments must
be received on or before November 1, 2016.

ADDRESSES: The EPA has established a docket for the proposed rulemaking
(available at http://www.regulations.gov). The Docket ID No. is EPA-HQ-
OAR-2016-0033. Information on this action is posted at  https://www.epa.gov/cleanpowerplan/clean-energy-incentive-program. Submit your
comments, identified by the appropriate Docket ID No., to the Federal
eRulemaking Portal: http://www.regulations.gov. Follow the online
instructions for submitting comments. Once submitted, comments cannot
be edited or withdrawn. The EPA may publish any comment received to its
public docket. Do not submit electronically any information you
consider to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute. If you need to
include CBI as part of

your comment, please visit http://www.epa.gov/dockets/comments.html for
instructions. Multimedia submissions (audio, video, etc.) must be
accompanied by a written comment. The written comment is considered the
official comment and should include discussion of all points you wish
to make.
    For additional submission methods, the full EPA public comment
policy, and general guidance on making effective comments, please visit
http://www.epa.gov/dockets/comments.html.

FOR FURTHER INFORMATION CONTACT: For additional information on this
action, contact Dr. Tina Ndoh, Sector Policies and Programs Division,
Office of Air Quality Planning and Standards (D243-04), Environmental
Protection Agency, Research Triangle Park, NC 27711; telephone number:
(919) 541-2750; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: A number of tribes working on comments for
the Clean Energy Incentive Program (CEIP) Design Details proposed rule
(81 FR 42940; June 30, 2016) have asked for additional consultation to
better understand the issues related to the interaction between state
plans and projects on tribal land that may qualify for the CEIP.
Because of the interest of a number of tribes, the EPA believes it is
appropriate to extend the comment period to allow for the requested
tribal consultations and to provide tribes time to incorporate any
information from those consultations in their comments. The EPA
extended the initial comment period at 81 FR 47325 (July 21, 2016). The
EPA is further extending the comment period for the CEIP Design Details
proposal by 60 days, to November 1, 2016.

    Dated: August 25, 2016.
Stephen Page,
Director, Office of Air Quality Planning and Standards.
[FR Doc. 2016-20898 Filed 8-30-16; 8:45 am]
 BILLING CODE 6560-50-P


[Federal Register Volume 79, Number 174 (Tuesday, September 9, 2014)]
[Notices]
[Pages 53468-53471]
[FR Doc No: 2014-21365]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 31239; File No. 812-14173]

Eagle Capital Appreciation Fund, et al.; Notice of Application

September 3, 2014.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of an application under section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from section 15(a) of
the Act and rule 18f-2 under the Act, as well as from certain
disclosure requirements.

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    Summary of Application: Applicants request an order that would
permit them to enter into and materially amend subadvisory agreements
with Wholly-Owned Subadvisers (as defined below) and Non-Affiliated
Subadvisers (as defined below) without shareholder approval and would
grant relief from certain disclosure requirements. The requested order
would supersede a prior order that granted relief solely with respect
to Non-Affiliated Subadvisers.\1\
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    \1\ Heritage Capital Appreciation Trust, et al., Investment
Company Act Release Nos. 25252 (November 2, 2001) (notice) and 25301
(November 28, 2001) (order).
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    Applicants: Eagle Capital Appreciation Fund, Eagle Growth & Income
Fund and Eagle Series Trust (each, a ``Trust'' and collectively, the
``Trusts''), and Eagle Asset Management, Inc. (the ``Adviser'').

DATES:  Filing Dates: The application was filed on July 1, 2013, and
amended on October 25, 2013, on April 4, 2014 and on July 31, 2014.
    Hearing or Notification of Hearing: An order granting the
application will be issued unless the Commission orders a hearing.
Interested persons may request a hearing by writing to the Commission's
Secretary and serving applicants with a copy of the request, personally
or by mail. Hearing requests should be received by the Commission by
5:30 p.m. on September 29, 2014, and should be accompanied by proof of
service on applicants, in the form of an affidavit or, for lawyers, a
certificate of service. Hearing requests should state the nature of the
writer's interest, the reason for the request, and the issues
contested. Persons who wish to be notified of a hearing may request
notification by writing to the Commission's Secretary.

ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549-1090. Applicants, 880 Carillon
Parkway, St. Petersburg, Florida 33716.

FOR FURTHER INFORMATION CONTACT: Kay-Mario Vobis, Senior Counsel, at
(202) 551-6728, or Mary Kay Frech, 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. Each Trust is organized as a Massachusetts business trust and is
registered with the Commission as an open-end management investment
company under the Act. Each Trust may offer one or more series of
shares (each a ``Fund,'' and collectively the ``Funds''), each with its
own distinct investment objectives, policies and restrictions. The
Adviser is a Florida corporation registered with the Commission as an
investment adviser under the Investment Advisers Act of 1940 (the
``Advisers Act''), and serves as investment adviser to the Funds.
    2. Applicants request an order to permit the Adviser, subject to
the approval of the board of trustees of each Trust (collectively, the
``Board''),\2\ including a majority of the trustees who are not
``interested persons'' of the Trusts or the Adviser, as defined in
section 2(a)(19) of the Act (the ``Independent Trustees''), to, without
obtaining shareholder approval: (i) Select certain wholly-owned and
non-affiliated investment Subadvisers \3\ to manage all or a portion of
the assets of one or more of the Funds pursuant to an investment
subadvisory agreement with each Subadviser (each a ``Subadvisory
Agreement'' and collectively, the ``Subadvisory Agreements''); and (ii)
materially amend Subadvisory Agreements with the Subadvisers.\4\
Applicants request that the relief apply to the named applicants, as
well as to any future Fund and any other existing or future registered
open-end management investment company or series thereof that intends
to rely on the requested order in the future and (i) is advised by the
Adviser or its successors; \5\ (ii) uses the multi-manager structure
described in the application; and (iii) complies with the terms and
conditions set forth in the application (each, a ``Subadvised
Fund'').\6\ The requested relief will not extend to any subadviser,
other than a Wholly-Owned Subadviser, who is an affiliated person, as
defined in section 2(a)(3) of the Act, of the Subadvised Fund or of the
Adviser, other than by reason of serving as a subadviser to one or more
of the Subadvised Funds (``Affiliated Subadviser'').
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    \2\ The term ``Board'' also includes the board of trustees or
directors of a future Subadvised Fund (as defined below), if
different from the board of trustees of the Trusts.
    \3\ A ``Subadviser'' for a Fund is a Subadviser that is (i) an
indirect or direct ``wholly-owned subsidiary'' (as such term is
defined in the Act) of the Adviser, or (ii) a sister company of the
Adviser that is an indirect or direct ``wholly-owned subsidiary''
(as such term is defined in the Act) of the same company that,
indirectly or directly, wholly owns the Adviser (each of (i) and
(ii) a ``Wholly-Owned Subadviser'' and collectively, the ``Wholly-
Owned Subadvisers''), or (iii) not an ``affiliated person'' (as such
term is defined in section 2(a)(3) of the Act) of a Fund or the
Adviser, except to the extent that an affiliation arises solely
because the Subadviser serves as a subadviser to one or more Funds
(each a ``Non-Affiliated Subadviser'' and collectively, the ``Non-
Affiliated Subadvisers'').
    \4\ Shareholder approval will continue to be required for any
other subadviser changes and material amendments to an existing
subadvisory agreement with any subadviser other than a Non-
Affiliated Subadviser or a Wholly-Owned Subadviser (all such changes
referred to herein as ``Ineligible Subadviser Changes''), except as
otherwise permitted by rule or other action of the Commission or its
staff.
    \5\ For the purposes of the requested order, ``successor'' is
limited to an entity that results from a reorganization into another
jurisdiction or a change in the type of business organization.
    \6\ All registered open-end investment companies that currently
intend to rely on the requested order are named as applicants. Any
entity that relies on the requested order will do so only in
accordance with the terms and conditions contained in the
application. If the name of any Subadvised Fund contains the name of
a Subadviser, the name of the Adviser that serves as the primary
adviser to the Subadvised Fund, or a trademark or trade name that is
owned by or publicly used to identify that Adviser, will precede the
name of the Subadviser.
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    3. The Adviser serves as the investment adviser to each Fund
pursuant to an investment advisory agreement with the Fund (each an
``Investment Advisory Agreement'' and, together, the ``Investment
Advisory Agreements''). Any future Adviser also will be registered with
the Commission as an investment adviser under the Advisers Act. Each
Investment Advisory Agreement has been or will be approved by the
Board, including a majority of the Independent Trustees, and by the
shareholders of the relevant Fund in the manner required by sections
15(a) and 15(c) of the Act and rule 18f-2 thereunder. The terms of the
Investment Advisory Agreements comply or will comply with section 15(a)
of the Act.
    4. Pursuant to the terms of each Investment Advisory Agreement, the
Adviser, subject to the oversight of the Board, has agreed or will
agree to

provide a continuous investment program for each Fund, which includes
determining the securities and other investments to be purchased,
retained, sold or loaned by each Fund and the portion of such assets to
be invested or held uninvested as cash. The Adviser will periodically
review each Fund's investment policies and strategies and, based on the
need of a particular Fund, may recommend changes to the investment
policies and strategies of the Fund for consideration by the Board. For
its services to each Fund, the Adviser receives or will receive an
investment advisory fee from that Fund as specified in the applicable
Investment Advisory Agreement. Consistent with the terms of each
Subadvised Fund's Investment Advisory Agreement, the Adviser may,
subject to the approval of the Board, including a majority of the
Independent Trustees, and the shareholders of the applicable Subadvised
Fund (if required), delegate portfolio management responsibilities of
all or a portion of the assets of a Subadvised Fund to a Subadviser.
The Adviser continues to have overall responsibility for the management
and investment of the assets of each Subadvised Fund. These
responsibilities include recommending the removal or replacement of
Subadvisers, and determining the portion of that Subadvised Fund's
assets to be managed by any given Subadviser and reallocating those
assets as necessary from time to time.
    5. Pursuant to the authority under the Investment Advisory
Agreement, the Adviser may enter into Subadvisory Agreements with
various Subadvisers on behalf of the Funds. The Adviser has entered
into a Subadvisory Agreement with Eagle Boston Investment Management,
Inc., a wholly-owned subsidiary of the Adviser. The Adviser also may,
in the future, enter into Subadvisory Agreements with other Subadvisers
on behalf of the Funds. The Subadvisory Agreements were or will be
approved by the Board, including a majority of the Independent
Trustees, and the shareholders of the Subadvised Fund in accordance
with sections 15(a) and 15(c) of the Act and rule 18f-2 thereunder. In
addition, the terms of the Subadvisory Agreements comply or will comply
fully with the requirements of section 15(a) of the Act. The
Subadvisers, subject to the oversight of the Adviser and the Board,
determine or will determine the securities and other instruments to be
purchased, sold or entered into by a Subadvised Fund's portfolio or a
portion thereof, and place orders with brokers or dealers that they
select. The Adviser will compensate the Subadvisers out of the fee
received by the Adviser from the applicable Subadvised Fund under the
applicable Investment Advisory Agreement.
    6. Subadvised Funds will inform shareholders of the hiring of a new
Subadviser pursuant to the following procedures (``Modified Notice and
Access Procedures''): (a) Within 90 days after a new Subadviser is
hired for any Subadvised Fund, that Subadvised Fund will send its
shareholders either a Multi-manager Notice or a Multi-manager Notice
and Multi-manager Information Statement; \7\ and (b) a Subadvised Fund
will make the Multi-manager Information Statement available on the Web
site identified in the Multi-manager Notice no later than when the
Multi-manager Notice (or Multi-manager Notice and Multi-manager
Information Statement) is first sent to shareholders, and will maintain
it on that Web site for at least 90 days. Applicants state that, in the
circumstances described in the application, a proxy solicitation to
approve the appointment of new Subadvisers provides no more meaningful
information to shareholders than the proposed Multi-manager Information
Statement. Applicants also state that the Board would comply with the
requirements of sections 15(a) and 15(c) of the Act before entering
into or amending Subadvisory Agreements.
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    \7\ A ``Multi-manager Notice'' will be modeled on a Notice of
Internet Availability as defined in rule 14a-16 under the Securities
Exchange Act of 1934 (``Exchange Act''), and specifically will,
among other things: (a) summarize the relevant information regarding
the new Subadviser (except as modified to permit Aggregate Fee
Disclosure, as defined below); (b) inform shareholders that the
Multi-manager Information Statement is available on a Web site; (c)
provide the Web site address; (d) state the time period during which
the Multi-manager Information Statement will remain available on
that Web site; (e) provide instructions for accessing and printing
the Multi-manager Information Statement; and (f) instruct the
shareholder that a paper or email copy of the Multi-manager
Information Statement may be obtained, without charge, by contacting
the Subadvised Fund.
    A ``Multi-manager Information Statement'' will meet the
requirements of Regulation 14C, Schedule 14C and Item 22 of Schedule
14A under the Exchange Act for an information statement, except as
modified by the order to permit Aggregate Fee Disclosure. Multi-
manager Information Statements will be filed with the Commission via
the EDGAR system.
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    7. Applicants also request an order under section 6(c) of the Act
exempting the Subadvised Funds from certain disclosure obligations that
may require each Subadvised Fund to disclose fees paid by the Adviser
to each Subadviser. Applicants seek relief to permit each Subadvised
Fund to disclose (as a dollar amount and a percentage of a Subadvised
Fund's net assets) (a) the aggregate fees paid to the Adviser and any
Wholly-Owned Subadvisers; (b) the aggregate fees paid to Non-Affiliated
Subadvisers; and (c) the fee paid to each Affiliated Subadviser
(collectively, the ``Aggregate Fee Disclosure''). An exemption is
requested to permit a Subadvised Fund to include only the Aggregate Fee
Disclosure. All other items required by Sections 6-07(2)(a), (b) and
(c) of Regulation S-X will be disclosed.
    Applicants' Legal Analysis:
    1. Section 15(a) of the Act states, in part, that it is unlawful
for any person to act as an investment adviser to a registered
investment company ``except pursuant to a written contract, which
contract, whether with such registered company or with an investment
adviser of such registered company, has been approved by the vote of a
majority of the outstanding voting securities of such registered
company.'' Rule 18f-2 under the Act provides that each series or class
of stock in a series investment company affected by a matter must
approve that matter if the Act requires shareholder approval.
    2. Form N-1A is the registration statement used by open-end
investment companies. Item 19(a)(3) of Form N-1A requires a registered
investment company to disclose in its statement of additional
information the method of computing the ``advisory fee payable'' by the
investment company, including the total dollar amounts that the
investment company ``paid to the adviser (aggregated with amounts paid
to affiliated advisers, if any), and any advisers who are not
affiliated persons of the adviser, under the investment advisory
contract for the last three fiscal years.''
    3. Rule 20a-1 under the Act requires proxies solicited with respect
to a registered investment company to comply with Schedule 14A under
the Exchange Act. Items 22(c)(1)(ii), 22(c)(1)(iii), 22(c)(8) and
22(c)(9) of Schedule 14A, taken together, require a proxy statement for
a shareholder meeting at which the advisory contract will be voted upon
to include the ``rate of compensation of the investment adviser,'' the
``aggregate amount of the investment adviser's fee,'' a description of
the ``terms of the contract to be acted upon,'' and, if a change in the
advisory fee is proposed, the existing and proposed fees and the
difference between the two fees.
    4. Regulation S-X sets forth the requirements for financial
statements required to be included as part of a registered investment
company's registration statement and shareholder reports filed with the
Commission.

Sections 6-07(2)(a), (b) and (c) of Regulation S-X require a registered
investment company to include in its financial statement information
about the investment advisory fees.
    5. 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 provisions of the Act, or
from any rule thereunder, if 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 requested relief meets this standard
for the reasons discussed below.
    6. Applicants assert that the shareholders expect the Adviser,
subject to the review and approval of the Board, to select a Subadviser
who is in the best position to achieve the Subadvised Fund's investment
objective. Applicants assert that, from the perspective of the
shareholder, the role of the Subadvisers is substantially equivalent to
the role of the individual portfolio managers employed by an investment
adviser to a traditional investment company. Applicants believe that
permitting the Adviser to perform the duties for which the shareholders
of a Subadvised Fund are paying the Adviser--the selection, supervision
and evaluation of the Subadviser--without incurring unnecessary delays
or expenses is appropriate and in the interest of a Subadvised Fund's
shareholders and will allow such Subadvised Fund to operate more
efficiently. Applicants state that each Investment Advisory Agreement
will continue to be fully subject to section 15(a) of the Act and rule
18f-2 under the Act and approved by the relevant Board, including a
majority of the Independent Trustees, in the manner required by
sections 15(a) and 15(c) of the Act. Applicants are not seeking an
exemption with respect to the Investment Advisory Agreements.
    7. Applicants assert that disclosure of the individual fees that
the Adviser would pay to the Subadvisers does not serve any meaningful
purpose. Applicants contend that the primary reasons for requiring
disclosure of individual fees paid to Subadvisers are to inform
shareholders of expenses to be charged by a particular Subadvised Fund
and to enable shareholders to compare the fees to those of other
comparable investment companies. Applicants believe that the requested
relief satisfies these objectives because the advisory fee paid to the
Adviser will be fully disclosed and, therefore, shareholders will know
what a Subadvised Fund's fees and expenses are and will be able to
compare the advisory fees a Subadvised Fund is charged to those of
other investment companies. Applicants assert that the requested
disclosure relief would benefit shareholders of the Subadvised Funds
because it would improve the Adviser's ability to negotiate the fees
paid to Subadvisers. Applicants state that the Adviser may be able to
negotiate rates that are below a Subadviser's ``posted'' amounts if the
Adviser is not required to disclose the Subadvisers' fees to the
public. Applicants assert that the relief will also encourage
Subadvisers to negotiate lower subadvisory fees with the Adviser if the
lower fees are not required to be made public.
    8. Applicants submit that the requested relief meets the standards
for relief under section 6(c) of the Act. Applicants state that the
operation of a Subadvised Fund in the manner described in the
application must be approved by shareholders of the Subadvised Fund
before that Subadvised Fund may rely on the requested order. In
addition, applicants state that any conflict of interest or economic
incentive that may exist in connection with the Adviser selecting a
Wholly-Owned Subadviser to manage all or a portion of the assets of a
Subadvised Fund are addressed under the terms and conditions of the
application and will be disclosed to shareholders and considered by the
Board when it reviews the selection or termination of Subadvisers.
Applicants also assert that conditions 6, 7, 10 and 11 are designed to
provide the Board with sufficient independence and the resources and
information it needs to monitor and address any conflicts of interest.
Applicants state that, accordingly, they believe the requested relief
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' Conditions:
    Applicants agree that any order granting the requested relief will
be subject to the following conditions:
    1. Before a Subadvised Fund may rely on the order requested in the
application, the operation of the Subadvised Fund in the manner
described in the application, including the hiring of Wholly-Owned
Subadvisers, will be, or has been, approved by a majority of the
Subadvised Fund's outstanding voting securities as defined in the Act,
or, in the case of a Subadvised Fund whose public shareholders purchase
shares on the basis of a prospectus containing the disclosure
contemplated by condition 2 below, by the initial shareholder before
such Subadvised Fund's shares are offered to the public.
    2. The prospectus for each Subadvised Fund will disclose the
existence, substance and effect of any order granted pursuant to the
application. In addition, each Subadvised Fund will hold itself out to
the public as employing the multi-manager structure described in the
application. The prospectus will prominently disclose that the Adviser
has the ultimate responsibility, subject to oversight by the Board, to
oversee the Subadvisers and recommend their hiring, termination, and
replacement.
    3. The Adviser will provide general management services to each
Subadvised Fund, including overall supervisory responsibility for the
general management and investment of the Subadvised Fund's assets, and
subject to review and approval of the Board, will (i) set the
Subadvised Fund's overall investment strategies; (ii) evaluate, select,
and recommend Subadvisers to manage all or a portion of the Subadvised
Fund's assets; (iii) allocate and, when appropriate, reallocate the
Subadvised Fund's assets among Subadvisers; (iv) monitor and evaluate
the Subadvisers' performance; and (v) implement procedures reasonably
designed to ensure that Subadvisers comply with the Subadvised Fund's
investment objective, policies and restrictions.
    4. A Subadvised Fund will not make any Ineligible Subadviser
Changes without the approval of the shareholders of the applicable
Subadvised Fund.
    5. Subadvised Funds will inform shareholders of the hiring of a new
Subadviser within 90 days after the hiring of the new Subadviser
pursuant to the Modified Notice and Access Procedures.
    6. At all times, at least a majority of the Board will be
Independent Trustees, and the selection and nomination of new or
additional Independent Trustees will be placed within the discretion of
the then-existing Independent Trustees.
    7. Independent Legal Counsel, as defined in rule 0-1(a)(6) under
the Act, will be engaged to represent the Independent Trustees. The
selection of such counsel will be within the discretion of the then-
existing Independent Trustees.
    8. The Adviser will provide the Board, no less frequently than
quarterly, with information about the profitability of the Adviser on a
per Subadvised Fund basis. The information will reflect

the impact on profitability of the hiring or termination of any
Subadviser during the applicable quarter.
    9. Whenever a Subadviser is hired or terminated, the Adviser will
provide the Board with information showing the expected impact on the
profitability of the Adviser.
    10. Whenever a Subadviser change is proposed for a Subadvised Fund
with an Affiliated Subadviser or a Wholly-Owned Subadviser, the Board,
including a majority of the Independent Trustees, will make a separate
finding, reflected in the Board minutes, that the change is in the best
interests of the Subadvised Fund and its shareholders and does not
involve a conflict of interest from which the Adviser or the Affiliated
Subadviser or Wholly-Owned Subadviser derives an inappropriate
advantage.
    11. No Trustee or officer of a Subadvised Fund or director, or
officer of the Adviser will own directly or indirectly (other than
through a pooled investment vehicle that is not controlled by such
person) any interest in a Subadviser except for (i) ownership of
interests in the Adviser or any entity, other than a Wholly-Owned
Subadviser, that controls, is controlled by or is under common control
with the Adviser; or (ii) ownership of less than 1% of the outstanding
securities of any class of equity or debt of a publicly traded company
that is either a Subadviser or an entity, that controls, is controlled
by or is under common control with a Subadviser.
    12. Each Subadvised Fund will disclose in its registration
statement the Aggregate Fee Disclosure.
    13. In the event that the Commission adopts a rule under the Act
providing substantially similar relief to that requested in the
application, the requested order will expire on the effective date of
that rule.
    14. Any new Subadvisory Agreement or any amendment to a Subadvised
Fund's existing investment advisory agreement or Subadvisory Agreement
that directly or indirectly results in an increase in the aggregate
advisory fee rate payable by the Subadvised Fund will be submitted to
the Subadvised Fund's shareholders for approval.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-21365 Filed 9-8-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: February 22, 2006 (Volume 71, Number 35)]
[Notices]
[Page 9110-9112]
[DOCID:fr22fe06-83]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2005-0203; FRL-7764-4 ]

Ethylene Oxide (ETO) Revised Risk Assessments; Notice of
Availability, and Solicitation of Risk Reduction Options (Phase 5 of 6-
Phase Process)

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY:  This notice announces the availability of EPA's revised risk
assessments for the fumigant/sterilant pesticide ethylene oxide (ETO).
In addition, this notice solicits public comment on risk reduction
options for ETO. The public is encouraged to suggest risk management
ideas or proposals to address the risks identified. EPA is developing a
Reregistration Eligibility Decision (RED), for ETO through the full, 6-
Phase public participation process that the Agency uses to involve the
public in developing pesticide reregistration and tolerance
reassessment decisions. Through these programs, EPA is ensuring that
all pesticides meet current health and safety standards.

DATES:  Comments must be received on or before April 24, 2006.

ADDRESSES:  Submit your comments, identified by docket identification
(ID) number EPA-HQ-OPP-2005-0203, by one of the following methods:
     http://www.regulations.gov/. Follow the on-line

instructions for submitting comments.
     Mail. Public Information and Records Integrity Branch
(PIRIB) (7502C), Office of Pesticide Programs (OPP), Environmental
Protection Agency, 1200 Pennsylvania Ave., NW., Washington, DC 20460-
0001.
     Hand delivery. Public Information and Records Integrity Branch
(PIRIB) (7502C), Office of Pesticide Programs (OPP), Environmental
Protection Agency, Rm. 119, Crystal Mall 2, 1801 S. Bell St.,
Arlington, VA, Attention: Docket ID number EPA-HQ-OPP-2005-0203. The
docket facility is open from 8:30 a.m. to 4 p.m., Monday through
Friday, excluding legal holidays. The telephone number for the docket
facility is<PHONE_NUMBER>. Such deliveries are only accepted during
the Docket's normal hours of operation, and special arrangements should
be made for deliveries of boxed information.
     Instructions. Direct your comments to docket ID number EPA-HQ-OPP-
2005-0203. EPA's policy is that all comments received will be included
in the public docket without change and may be made available on-line
at http://www.regulations.gov/, including any personal information

provided, unless the comment includes information claimed to be
Confidential Business Information (CBI) or other information whose
disclosure is restricted by statute. Do not submit information that you
consider to be CBI or otherwise protected through regulations.gov or e-
mail. The regulations.gov website is an ``anonymous access'' system,
which means EPA will not know your identity

or contact information unless you provide it in the body of your
comment. If you send an e-mail comment directly to EPA without going
through regulations.gov, your e-mail address will be captured
automatically and included as part of the comment that is placed in the
public docket and made available on the Internet. If you submit an
electronic comment, EPA recommends that you include your name and other
contact information in the body of your comment and with any disk or CD
ROM you submit. If EPA cannot read your comment due to technical
difficulties and cannot contact you for clarification, EPA may not be
able to consider your comment. Electronic files should avoid the use of
special characters, any form of encryption, and be free of any defects
or viruses. For additional information about EPA's public docket, visit
the EPA Docket Center homepage at http://www.epa.gov/epahome/docket.htm/
.

     Docket. All documents in the docket are listed in the
regulation.gov index. Although, listed in the index, some information
is not publicly available, i.e., CBI or other information whose
disclosure is restricted by statute. Certain other material, such as
copyrighted material, will be publicly available only in hard copy.
Publicly available docket materials are available either electronically
at http://www.regulations.gov/ or in hard copy at the Public

Information and Records Integrity Branch (PIRIB) (7502C), Office of
Pesticide Programs (OPP), Environmental Protection Agency, Rm. 119,
Crystal Mall 2, 1801 S. Bell St., Arlington, VA. The docket
facility is open from 8:30 a.m. to 4 p.m., Monday through Friday,
excluding legal holidays. The telephone number for the docket facility
is (703) 305- 5805.

FOR FURTHER INFORMATION CONTACT:  Susan Bartow, Special Review and
Reregistration Division (7508C), Office of Pesticide Programs,
Environmental Protection Agency, 1200 Pennsylvania Ave., NW.,
Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>; fax
number:<PHONE_NUMBER>; e-mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this Action Apply to Me?

     This action is directed to the public in general, and may be of
interest to a wide range of stakeholders including environmental, human
health, and agricultural advocates; the chemical industry; the medical
industry; the spice industry; pesticide users; and members of the
public interested in the sale, distribution, or use of pesticides.
Since others may also 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 person listed under FOR FURTHER
INFORMATION CONTACT.

B. What Should I Consider as I Prepare My Comments for EPA?

    1. Submitting CBI. Do not submit this information to EPA through
http://www.regulations.gov or e-mail. Clearly mark the part or all of the

information that you claim to be CBI. For CBI information in a disk or
CD ROM that you mail to EPA, mark the outside of the disk or CD ROM as
CBI, and then identify electronically within the disk or CD ROM the
specific information that is claimed as CBI). In addition to one
complete version of the comment that includes information claimed as
CBI, a copy of the comment that does not contain the information
claimed as CBI must be submitted for inclusion in the public docket.
Information so marked will not be disclosed except in accordance with
procedures set forth in 40 CFR part 2.
    2. Tips for preparing your comments. When submitting comments,
remember to:
    i. Identify the document by docket number and other identifying
information (subject heading, Federal Register date and page number).
    ii. Follow directions. The agency may ask you to respond to
specific questions or organize comments by referencing a Code of
Federal Regulations (CFR) part or section number.
    iii. Explain why you agree or disagree; suggest alternatives and
substitute language for your requested changes.
    iv. Describe any assumptions and provide any technical information
and/or data that you used.
    v. If you estimate potential costs or burdens, explain how you
arrived at your estimate in sufficient detail to allow for it to be
reproduced.
    vi. Provide specific examples to illustrate your concerns, and
suggest alternatives.
    vii. Explain your views as clearly as possible, avoiding the use of
profanity or personal threats.
    viii. Make sure to submit your comments by the comment period
deadline identified.

II. Background

A. What Action is the Agency Taking?

     EPA is making available the Agency's revised risk assessments,
initially issued for comment through a Federal Register notice
published on August 3, 2005 (70 FR 44632) (FRL-7729-2); a response to
comments; and related documents for ETO. EPA is also soliciting public
comment on risk reduction options for ETO. EPA developed the risk
assessments for ETO as part of its public process for making pesticide
reregistration eligibility and tolerance reassessment decisions.
Through these programs, EPA is ensuring that pesticides meet current
standards under the Federal Insecticide, Fungicide, and Rodenticide Act
(FIFRA) and the Federal Food, Drug, and Cosmetic Act (FFDCA), as
amended by the Food Quality Protection Act of 1996 (FQPA).
     ETO is a fumigant/sterilant used to sterilize medical or
laboratory equipment, pharmaceuticals, and aseptic packaging, or to
reduce microbial load on cosmetics, whole and ground spices or other
seasoning materials, and artifacts, archival material or library
objects.
     EPA is providing an opportunity, through this notice, for
interested parties to provide risk management proposals or otherwise
comment on risk management for ETO. Risks of concern associated with
the use of ETO are as follows: The dietary risk assessment indicates
that for all supported commodities, the acute dietary exposure
estimates for ethylene chlorohydrin (a reaction product of ETO) are
above the Agency's level of concern. In addition, the Agency's
occupational exposure assessment for ETO's use as a sterilant for the
spice and medical industries indicates that cancer risk are of concern
at the current regulatory levels established by the Occupational Safety
and Health Administration (OSHA) and recommended by the National
Institute of Occupational Safety and Health (NIOSH). Non-cancer worker
exposure/risk is estimated to be of concern at the OSHA permissible
exposure limit (PEL), but not of concern at the NIOSH recommended
exposure limit. Based on available data, the Agency anticipates the
following spice and medical industry-related activities to result in
potential worker exposure to ETO: Inhalation exposure to ETO during
sterilization activities; inhalation exposure to off-gassed ETO from
treated items during post-sterilization activities.
     A summary of these potential risks of concern as well as specific
questions for which the Agency is requesting input, are provided in a
separate document titled Request for Additional Information and Risk
Management Suggestions for the Reregistration of Ethylene Oxide. In
targeting these risks of concern, the Agency solicits

information on effective and practical risk reduction measures. In
addition, a paper outlining benefits of various ETO uses is also
included as a separate document. The Agency is interested in
information related to these benefits.
     EPA is applying the principles of public participation to all
pesticides undergoing reregistration and tolerance reassessment. The
Agency's Pesticide Tolerance Reassessment and Reregistration; Public
Participation Process, published in the Federal Register on May 14,
2004, (69 FR 26819) (FRL-7357-9) explains that in conducting these
programs, EPA is tailoring its public participation process to be
commensurate with the level of risk, extent of use, complexity of
issues, and degree of public concern associated with each pesticide.
Due to its uses, risks, and other factors, ETO is being reviewed
through the full 6-Phase public participation process.
     All comments should be submitted using the methods in ADDRESSES,
and must be received by EPA on or before the closing date. Comments and
proposals will become part of the Agency Docket for ETO. Comments
received after the close of the comment period will be marked ``late.''
EPA is not required to consider these late comments.
     After considering comments received, EPA will develop and issue
the ETO RED.

B. What is the Agency's Authority for Taking this Action?

     Section 4(g)(2) of FIFRA as amended directs that, after submission
of all data concerning a pesticide active ingredient, ``the
Administrator shall determine whether pesticides containing such active
ingredient are eligible for reregistration,'' before calling in product
specific data on individual end-use products and either reregistering
products or taking other ``appropriate regulatory action.''
     Section 408(q) of the FFDCA, 21 U.S.C. 346a(q), requires EPA to
review tolerances and exemptions for pesticide residues in effect as of
August 2, 1996, to determine whether the tolerance or exemption meets
the requirements of section 408(b)(2) or (c)(2) of FFDCA. This review
is to be completed by August 3, 2006.

List of Subjects

     Environmental protection, Pesticides and pests.

    Dated: February 15, 2006.
Debra Edwards,
Director, Special Review and Reregistration Division, Office of
Pesticide Programs.
[FR Doc. E6-2463 Filed 2-21-06; 8:45 am]

BILLING CODE 6560-50-S