[Federal Register Volume 79, Number 110 (Monday, June 9, 2014)]
[Notices]
[Pages 33006-33012]
[FR Doc No: 2014-13314]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 31070; 813-382]

Kohlberg Kravis Roberts & Co. L.P., et al.; Notice of Application

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

ACTION: Notice of application for an order under sections 6(b) and 6(e)
of the Investment Company Act of 1940 (the ``Act'') granting an
exemption from all provisions of the Act and the rules and regulations
thereunder, except sections 9, 17, 30, and 36 through 53 of the Act,
and the rules and regulations thereunder (the ``Rules and
Regulations''). With respect to sections 17(a), (d), (f), (g) and (j)
and 30(a), (b), (e), and (h) of the Act, and the Rules and Regulations,
and rule 38a-1 under the Act, the exemption is limited as set forth in
the application.

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SUMMARY: Summary of Application: Applicants request an order to exempt
certain limited partnerships and other entities (``Partnerships'')
formed for the benefit of eligible employees of Kohlberg Kravis Roberts
& Co. L.P. (``KKR LP'') and its affiliates from certain provisions of
the Act. Each Partnership will be an ``employees' securities company''
within the meaning of section 2(a)(13) of the Act.
    Applicants: KKR LP; KKR North America Fund XI ESC L.P. (``NAXI
ESC''), KKR Asian Fund II ESC L.P. (``Asia II ESC''), KKR Energy Income
and Growth Fund I ESC L.P. (``EIGF I ESC''), KKR Real Estate Partners
Americas ESC L.P. (``REPA ESC,'' and with NAXI ESC, Asia II ESC, and
EIGF I ESC, collectively, the ``Initial Partnerships''); and KKR North
America XI Limited (``NAXI ESC GP''), the General Partner (defined
below) of NAXI ESC, KKR Asia II Limited (``Asia II ESC GP''), the
General Partner of Asia II ESC, KKR EIGF LLC (``EIGF I ESC GP''), the
General Partner of EIGF I ESC, and KKR REPA GP LLC (``REPA ESC GP,''
and with NAXI ESC GP, Asia II ESC GP, and EIGF I ESC GP, collectively,
the ``Initial General Partners''), the General Partner of REPA ESC.

DATES: Filing Dates: The application was filed on September 20, 2012
and amended on May 6, 2013, December 31, 2013 and May 29, 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 June 30, 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: 9 West 57th Street,
Suite 4200, New York, New York 10019.

FOR FURTHER INFORMATION CONTACT: David J. Marcinkus, Senior Counsel, at
(202) 551-6882, or David P. Bartels, Branch Chief, at<PHONE_NUMBER>
(Division of Investment Management, Chief Counsel's Office).

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

Applicants' Representations

    1. KKR LP is a Delaware limited partnership, and together with its
``affiliates,'' as defined in rule 12b-2 under the Securities Exchange
Act of 1934 (the ``Exchange Act'') (collectively, ``KKR,'' and each, a
``KKR entity''), it has organized, and will in the future organize,
limited partnerships, limited liability companies, business trusts or
other entities (each a ``Partnership'' and, collectively, the
``Partnerships'') as ``employees' securities companies,'' as defined in
section 2(a)(13) of the Act.
    2. A Partnership may be organized under the laws of the state of
Delaware, another state, or of a jurisdiction outside the United
States. KKR may also form parallel Partnerships organized under the
laws of various jurisdictions in order to create the same investment
opportunities for Eligible Employees (as defined below) in other
jurisdictions. Interests in a Partnership (``Interests'') may be issued
in one or more series, each of which corresponds to particular
Partnership investments (each, a ``Series''). Each Series will be an
``employees' securities company'' within the meaning of section
2(a)(13) of the Act. Each Partnership will operate as a closed-end
management investment company, and a particular Partnership may operate
as a diversified or non-diversified vehicle within the meaning of the
Act. The Partnerships are intended to provide investment opportunities
for Eligible Employees that are competitive with those at other
investment management and financial services firms and to facilitate
the recruitment and retention of high caliber professionals. KKR will
control each Partnership within the meaning of section 2(a)(9) of the
Act.
    3. KKR formed NAXI ESC in June 2012 under the laws of the Cayman
Islands. NAXI ESC invests concurrently with KKR North America Fund XI
L.P. (``NAXI'') and other investors organized or managed by KKR or its
designees that generally co-invest with NAXI in various investment
opportunities, as

described in the application. KKR formed Asia II ESC in September 2012
under the laws of the Cayman Islands. Asia II ESC invests concurrently
with KKR Asian Fund II L.P. (``Asia II'') and other investors organized
or managed by KKR or its designees that generally co-invest with Asia
II in various investment opportunities, as described in the
application. KKR formed REPA ESC in June 2013 under the laws of
Delaware. REPA ESC invests concurrently with KKR Real Estate Partners
Americas L.P. (``REPA'') and other investors organized or managed by
KKR or its designees that generally co-invest with REPA in various
investment opportunities, as described in the application. KKR formed
EIGF I ESC in July 2013 under the laws of Delaware. EIGF I ESC invests
concurrently with KKR Energy Income and Growth Fund I L.P. (``EIGF I'')
and other investors organized or managed by KKR or its designees that
generally co-invest with EIGF I in various investment opportunities, as
described in the application. Each of the Initial Partnerships is
organized as a limited partnership.
    4. Each Partnership will have a general partner, managing member or
other such similar entity (a ``General Partner''). All investors in a
Partnership will be ``Limited Partners.'' The General Partner will be
responsible for the overall management of each Partnership and will
have the authority to make all decisions regarding the acquisition,
management and disposition of Partnership investments. A KKR entity
will be a General Partner of each Partnership. The General Partner may
be permitted to delegate certain of its responsibilities regarding the
acquisition, management and disposition of Partnership investments to
an Investment Adviser (as defined below), provided that the ultimate
responsibility for, and control of, each Partnership, remain with the
General Partner.
    5. The General Partner or another KKR entity will serve as
investment adviser to a Partnership (the ``Investment Adviser''). The
Investment Adviser will be registered as an investment adviser under
the Investment Advisers Act of 1940 (the ``Advisers Act''), if required
under applicable law. Each Investment Adviser shall comply with the
standards prescribed in Sections 9, 36 and 37 of the Act. The
Applicants represent and concede that each General Partner and
Investment Adviser managing a Partnership is an ``investment adviser''
within the meaning of Sections 9 and 36 of the Act and is subject to
those sections. An Investment Adviser may be paid a management fee,
which will generally be determined as a percentage of the capital
commitments of the Limited Partners. A General Partner or Investment
Adviser may receive a performance-based fee (a ``Carried Interest'')
based on the net gains of the Partnership's investments in addition to
any amount allocable to the General Partner's or Investment Adviser's
capital contribution.\1\
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    \1\ If a General Partner or Investment Adviser is registered
under the Advisers Act, the Carried Interest payable to it by a
Partnership will be pursuant to an arrangement that complies with
rule 205-3 under the Advisers Act. If the General Partner or
Investment Adviser is not required to register under the Advisers
Act, the Carried Interest payable to it will comply with section
205(b)(3) of the Advisers Act (with such Partnership treated as
though it were a business development company solely for the purpose
of that section).
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    6. If the General Partner determines that a Partnership enter into
any side-by-side investment with an unaffiliated entity, the General
Partner will be permitted to engage as sub-investment adviser the
unaffiliated entity (an ``Unaffiliated Subadviser''), which will be
responsible for the management of such side-by-side investment.
    7. Interests in a Partnership will be offered without registration
in reliance on section 4(2) of the Securities Act of 1933 (the
``Securities Act''), or Regulation D or Regulation S under the
Securities Act, and will be sold only to ``Qualified Participants'' (as
defined below). Prior to offering Interests to an Eligible Individual
(as defined below), a General Partner must reasonably believe that the
Eligible Employee or Eligible Family Member will be capable of
understanding and evaluating the merits and risks of participation in a
Partnership and that each such individual is able to bear the economic
risk of such participation and afford a complete loss of his or her
investments in Partnerships.
    8. ``Qualified Participants'' are (a) current and former employees,
officers, directors and current Consultants \2\ of KKR (collectively,
``Eligible Employees'' \3\), (b) spouses, parents, children, spouses of
children, brothers, sisters and grandchildren of Eligible Employees,
including step and adoptive relationships (``Eligible Family Members''
and, together with Eligible Employees who are natural persons,
``Eligible Individuals''), (c) any ``Eligible Investment Vehicle,''
which is defined as (i) a trust of which the trustee, grantor and/or
beneficiary is an Eligible Employee, (ii) a partnership, corporation or
other entity controlled by an Eligible Employee,\4\ or (iii) a trust or
other entity established solely for the benefit of Eligible Family
Members, and (d) KKR. Each Eligible Individual will be an ``accredited
investor'' under rule 501(a)(5) or rule 501(a)(6) of Regulation D
(``Accredited Investor''), except that a maximum of 35 Eligible
Employees who are sophisticated investors but who are not Accredited
Investors may become Limited Partners if each of them falls into one of
the following two categories: (A) Eligible Employees who (i) have a
graduate degree in business, law or accounting, (ii) have a minimum of
five years of consulting, investment management, investment banking,
legal or similar business experience, and (iii) had reportable income
from all sources (including any profit shares or bonus) of $100,000 in
each of the two most recent years immediately preceding the Eligible
Employee's admission as a Limited Partner and have a reasonable
expectation of income from all sources of at least $140,000 in each
year in which the Eligible Employee will be committed to make
investments in a Partnership; or (B) Eligible Employees

who are ``knowledgeable employees,'' as defined in rule 3c-5 of the
Act, of the Partnership (with the Partnership treated as though it were
a ``covered company'' for purposes of the rule). An Eligible Employee
who is described in category (A) above will not be permitted to invest
in any year more than 10% of his or her income from all sources for the
immediately preceding year, in the aggregate, in a Partnership and in
all other Partnerships in which that investor has previously invested.
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    \2\ A ``Consultant'' is a person or entity whom KKR has engaged
on retainer to provide services and professional expertise on an
ongoing basis as a regular consultant or as a business or legal
adviser and who shares a community of interest with KKR and its
employees. In order to participate in a Partnership, Consultants
will be required to be sophisticated investors who qualify as
Accredited Investors (defined below) (if a Consultant is an
individual) or, if not an individual, meet the standards of an
``accredited investor'' under Rule 501(a) of Regulation D. A
Qualified Participant of a Consultant may invest in a Partnership.
If a Consultant is an entity (such as, for example, a law firm or
consulting firm), and the Consultant proposes to invest in the
Partnership through a partnership, corporation or other entity that
is controlled by the Consultant, the individual participants in such
partnership, corporation or other entity will be limited to senior
level employees, members or partners of the Consultant who are
responsible for the activities of the Consultant and will be
required to qualify as Accredited Investors. In addition, such
entities will be limited to businesses controlled by individuals who
have levels of expertise and sophistication in the area of
investments in securities that are comparable to other Eligible
Employees who are employees, officers or directors of KKR and who
have an interest in maintaining an ongoing relationship with KKR.
Most importantly, the individuals participating through such
entities will belong to that class of persons who will have access
to the directors and officers of the General Partner and/or the
officers of KKR responsible for making investments for the
Partnerships similar to the access afforded other Eligible Employees
who are employees, officers or directors of KKR. Accordingly, there
will be a close nexus between KKR and such entities.
    \3\ To qualify as an Eligible Employee, any current or former
officer or director of KKR must be an employee or former employee of
KKR.
    \4\ The inclusion of partnerships, corporations, or other
entities controlled by an Eligible Employee in the definition of
``Eligible Investment Vehicle'' is intended to enable Eligible
Employees to make investments in the Partnerships through personal
investment vehicles for the purpose of personal and family
investment and estate planning objectives.
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    9. An Eligible Individual may purchase an Interest through an
Eligible Investment Vehicle only if either (i) the investment vehicle
is an Accredited Investor, as defined in rule 501(a) of Regulation D or
(ii) the Eligible Individual is a settlor \5\ and principal investment
decision-maker with respect to the investment vehicle. Eligible
Investment Vehicles that are not Accredited Investors will be included
in the 35 non-Accredited Investor limit discussed above.
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    \5\ If such investment vehicle is an entity other than a trust,
the term ``settlor'' will be read to mean a person who created such
vehicle, alone or together with other Eligible Individuals, and
contributed funds to such vehicle.
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    10. The terms of a Partnership will be disclosed to the Eligible
Employees at the time they are offered the right to subscribe for
Interests, and they will be furnished with a copy of the partnership
agreement. A Partnership will send its Limited Partners an annual
financial statement with respect to those Series in which the Limited
Partner had an Interest within 120 days, or as soon as practicable,
after the end of the Partnership's fiscal year. The financial statement
will be audited \6\ by independent certified public accountants. In
addition, as soon as practicable after the end of each fiscal year of a
Partnership, a report will be sent to each Limited Partner setting
forth the information with respect such Limited Partner's share of
income, gains, losses, credits, and other items for federal and state
income tax purposes.
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    \6\ ``Audit'' will have the meaning defined in rule 1-02(d) of
Regulation S-X.
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    11. Interests in the Partnerships will not be transferable except
with the express consent of the General Partner, and then only to a
Qualified Participant. All of the Partnerships will have only Qualified
Participants as Limited Partners. No sales load or similar fee of any
kind will be charged in connection with the sale of Interests.
    12. Applicants state that a General Partner may have the right to
repurchase or cancel the Interest of (i) an Eligible Employee who
ceases to be an employee, officer, director or current Consultant of
any KKR entity for any reason or (ii) any Eligible Family Member of any
person described in clause (i). Once a Consultant's ongoing
relationship with KKR is terminated: (i) Such Consultant and its
Qualified Participants, if any, will not be permitted to contribute any
additional capital to a Partnership and (ii) the existing Interests of
such Consultant and its Qualified Participants, if any, as of the date
of such termination will (A) to the extent the governing documents of a
Partnership provide for periodic redemptions in the ordinary course, be
redeemed as of the next regularly scheduled redemption date and (B) to
the extent the governing documents of a Partnership do not provide for
such periodic redemptions (e.g. as a result of the vehicle primarily
investing in illiquid investments), be retained. The Partnership
Agreement or private placement memorandum for each Partnership will
describe, if applicable, the amount that a Limited Partner would
receive upon repurchase or cancellation of its Interest. A Limited
Partner would receive upon repurchase or cancellation of its Interest,
at a minimum, the lesser of (i) the amount actually paid by or (subject
to any vesting requirements) on behalf of the Limited Partner to
acquire the Interest, plus interest, less any distributions, and (ii)
the fair market value of the Interest determined at the time of the
repurchase or cancellation as determined in good faith by the General
Partner.
    13. Applicants state that the Partnerships may invest either
directly or through investments in limited partnerships and other
investment pools (including pools that are exempt from registration in
reliance on section 3(c)(1) or 3(c)(7) of the Act) and investments in
registered investment companies.\7\ Investments may be made side by
side with KKR entities and through investment pools (including
Aggregation Vehicles) \8\ sponsored or managed by a KKR entity or an
unaffiliated entity.
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    \7\ Applicants are not requesting any exemption from any
provision of the Act or any rule thereunder that may govern the
eligibility of a Partnership to invest in an entity relying on
section 3(c)(1) or 3(c)(7) of the Act or any such entity's status
under the Act.
    \8\ An ``Aggregation Vehicle'' is an investment pool sponsored
or managed by a KKR entity that is formed solely for the purpose of
permitting a Partnership and other KKR entities or Third Party Funds
to collectively invest in other entities. Applicants state that it
may be more efficient for a Partnership and other KKR entities and
Third Party Funds to invest in an entity together through an
Aggregation Vehicle rather than having each investor separately
acquire a direct interest in such entity. An Aggregation Vehicle
will not be used to issue interests that discriminate against a
Partnership or provide preferential treatment to a KKR entity or
other KKR-related investors with respect to a portfolio company
investment. Applicants submit that because no investment decisions
are made at the Aggregation Vehicle level, the fact that a person
who participates in the Partnership's decision to acquire an
interest in an Aggregation Vehicle also serves as an officer,
director, general partner or investment adviser of the Aggregation
Vehicle would not create a conflict of interest on the part of such
person.
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    14. Applicants state that a Partnership may also co-invest in a
portfolio company with KKR or an investment fund or separate account
organized primarily for the benefit of investors who are not affiliated
with KKR over which a KKR entity or an Unaffiliated Subadviser
exercises investment discretion (``Third Party Funds''). The General
Partner will not delegate management and investment discretion for the
Partnership to an Unaffiliated Subadviser or a sponsor of a Third Party
Fund. Side-by-side investments held by a Third Party Fund, or by a KKR
entity in a transaction in which the KKR investment was made pursuant
to a contractual obligation to a Third Party Fund, will not be subject
to the restrictions contained in Condition 3 below. All other side-by-
side investments held by KKR entities will be subject to the
restrictions contained in Condition 3.
    15. If KKR makes loans to a Partnership, the lender will be
entitled to receive interest, provided that the interest rate will be
no less favorable to the borrower than the rate obtainable on an arm's
length basis. The possibility of any such borrowings, as well as the
terms thereof, would be disclosed to Qualified Participants prior to
their investment in a Partnership.\9\ A Partnership will not borrow
from any person if the borrowing would cause any person not named in
section 2(a)(13) of the Act to own securities of the Partnership (other
than short-term paper). A Partnership will not lend any funds to a KKR
entity.\10\ Any indebtedness of a Partnership will be the debt of the
Partnership and without recourse to the Limited Partners.
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    \9\ Applicants note that the Initial Partnerships disclosed the
possibility of such borrowings but not the terms thereof prior to
Qualified Participants investing in the Initial Partnership. As of
May 29, 2014, the Initial Partnerships have also disclosed the terms
of such potential borrowings to the Limited Partners.
    \10\ A Partnership may, subject to the terms and conditions set
out herein, make investments in issuers that are portfolio companies
of funds managed by KKR, and such investments may take the form of
loans. However, a Partnership will not make any loans to KKR LP, its
subsidiaries or any entity that controls KKR LP.
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    16. In compliance with section 12(d)(1)(A)(i) of the Act, a
Partnership will not purchase or otherwise acquire

any security issued by a registered investment company if, immediately
after the acquisition, the Partnership will own, in the aggregate, more
than 3% of the outstanding voting stock of the registered investment
company.

Applicants' Legal Analysis

    1. Section 6(b) of the Act provides that, upon application, the
Commission will exempt employees' securities companies from the
provisions of the Act to the extent that the exemption is consistent
with the protection of investors. Section 6(b) provides that the
Commission will consider, in determining the provisions of the Act from
which the company should be exempt, the company's form of organization
and capital structure, the persons owning and controlling its
securities, the price of the company's securities and the amount of any
sales load, how the company's funds are invested, and the relationship
between the company and the issuers of the securities in which it
invests. Section 2(a)(13) defines an employees' securities company, in
relevant part, as any investment company all of whose securities (other
than short-term paper) are beneficially owned (a) by current or former
employees, or persons on retainer, of one or more affiliated employers,
(b) by immediate family members of such persons, or (c) by such
employer or employers together with any of the persons in (a) or (b).
    2. Section 7 of the Act generally prohibits investment companies
that are not registered under section 8 of the Act from selling or
redeeming their securities. Section 6(e) of the Act provides that, in
connection with any order exempting an investment company from any
provision of section 7, certain provisions of the Act, as specified by
the Commission, will be applicable to the company and other persons
dealing with the company as though the company were registered under
the Act. Applicants request an order under sections 6(b) and 6(e) of
the Act exempting the Partnerships from all provisions of the Act,
except sections 9, 17, 30, and 36 through 53 of the Act, and the Rules
and Regulations. With respect to sections 17(a), (d), (f), (g), and (j)
and 30(a), (b), (e), and (h) of the Act, and the Rules and Regulations,
and rule 38a-1 under the Act, the exemption is limited as set forth in
the application.
    3. Section 17(a) generally prohibits any affiliated person of a
registered investment company, or any affiliated person of an
affiliated person, acting as principal, from knowingly selling or
purchasing any security or other property to or from the company.
Applicants request an exemption from section 17(a) to the extent
necessary to permit a KKR entity or a Third Party Fund (or any
affiliated person of any such KKR entity or Third Party Fund), acting
as principal, to purchase or sell securities or other property to or
from any Partnership or any company controlled by such Partnership. Any
such transaction to which any Partnership is a party will be effected
only after a determination by the General Partner that the requirements
of condition 1 below have been satisfied. In addition, the Applicants,
on behalf of the Partnerships, represent that any transactions
otherwise subject to section 17(a) of the Act, for which exemptive
relief has not been requested, would require approval of the
Commission.
    4. Applicants submit that an exemption from section 17(a) is
consistent with the purposes of the Partnerships and the protection of
investors. Applicants state that the Limited Partners will be informed
of the possible extent of the Partnership's dealings with KKR and of
the potential conflicts of interest that may exist. Applicants also
state that, as professionals engaged in financial services businesses,
the Limited Partners will be able to evaluate the risks associated with
those dealings. Applicants assert that the community of interest among
the Limited Partners and KKR will serve to reduce the risk of abuse.
Applicants acknowledge that the requested relief will not extend to any
transactions between a Partnership and an Unaffiliated Subadviser or an
affiliated person of an Unaffiliated Subadviser, or between a
Partnership and any person who is not an employee, officer or director
of the KKR or is an entity outside of the KKR and is an affiliated
person of the Partnership as defined in section 2(a)(3)(E) of the Act
(``Advisory Person'') or any affiliated person of such a person.
    5. Section 17(d) of the Act and rule 17d-1 under the Act prohibit
any affiliated person or principal underwriter of a registered
investment company, or any affiliated person of such person or
principal underwriter, acting as principal, from participating in any
joint arrangement with the company unless authorized by the Commission.
Applicants request relief to permit affiliated persons of the
Partnerships, or affiliated persons of any of such persons, to
participate in, or effect any transaction in connection with, any joint
enterprise or other joint arrangement or profit-sharing plan in which a
Partnership or a company controlled by a Partnership is a participant.
Applicants acknowledge that the requested relief will not extend to any
transaction in which an Unaffiliated Subadviser or an Advisory Person,
or an affiliated person of either such person, has an interest, except
in connection with a Third Party Fund sponsored by an Unaffiliated
Subadviser.
    6. Applicants assert that compliance with section 17(d) would cause
the Partnership to forego investment opportunities simply because a
Limited Partner, the General Partner or any other affiliated person of
the Partnership (or any affiliate of the affiliated person) made a
similar investment. Applicants submit that the types of investment
opportunities considered by a Partnership often require each investor
to make funds available in an amount that may be substantially greater
than what a Partnership may be able to make available on its own.
Applicants contend that, as a result, the only way in which a
Partnership may be able to participate in these opportunities may be to
co-invest with other persons, including its affiliates. Applicants
assert that the flexibility to structure co-investments and joint
investments will not involve abuses of the type section 17(d) and rule
17d-1 were designed to prevent. In addition, Applicants represent that
any transactions otherwise subject to section 17(d) of the Act and rule
17d-1 thereunder, for which exemptive relief has not been requested,
would require approval by the Commission.
    7. Co-investments with Third Party Funds, or by a KKR entity
pursuant to a contractual obligation to a Third Party Fund, will not be
subject to condition 3 below. Applicants note that it is common for a
Third Party Fund to require that KKR invest its own capital in Third
Party Fund investments, and that KKR investments be subject to
substantially the same terms as those applicable to the Third Party
Fund. Applicants believe it is important that the interests of the
Third Party Fund take priority over the interests of the Partnerships,
and that the Third Party Fund not be burdened or otherwise affected by
activities of the Partnerships. In addition, applicants assert that the
relationship of a Partnership to a Third Party Fund is fundamentally
different from a Partnership's relationship to KKR. Applicants contend
that the focus of, and the rationale for, the protections contained in
the requested relief are to protect the Partnerships from any
overreaching by KKR in the employer/employee context, whereas the same
concerns are not present with respect to the Partnerships vis-a-vis a
Third Party Fund.

    8. Section 17(e) of the Act and rule 17e-1 under the Act limit the
compensation an affiliated person may receive when acting as agent or
broker for a registered investment company. Applicants request an
exemption from section 17(e) to permit a KKR entity (including the
General Partner) that acts as an agent or broker to receive placement
fees, advisory fees, or other compensation from a Partnership in
connection with the purchase or sale by the Partnership of securities,
provided that the fees or other compensation are deemed ``usual and
customary.'' Applicants state that for purposes of the application,
fees or other compensation that are charged or received by a KKR entity
will be deemed ``usual and customary'' only if (a) the Partnership is
purchasing or selling securities with other unaffiliated third parties,
including Third Party Funds, (b) the fees or compensation being charged
to the Partnership are also being charged to the unaffiliated third
parties, including Third Party Funds, and (c) the amount of securities
being purchased or sold by the Partnership does not exceed 50% of the
total amount of securities being purchased or sold by the Partnership
and the unaffiliated third parties, including Third Party Funds.
Applicants assert that, because KKR does not wish to appear to be
favoring the Partnerships, compliance with section 17(e) would prevent
a Partnership from participating in transactions where the Partnership
is being charged lower fees than unaffiliated third parties. Applicants
assert that the fees or other compensation paid by a Partnership to a
KKR entity will be the same as those negotiated at arm's length with
unaffiliated third parties.
    9. Rule 17e-1(b) under the Act requires that a majority of
directors who are not ``interested persons'' (as defined in section
2(a)(19) of the Act) take actions and make approvals regarding
commissions, fees, or other remuneration. Rule 17e-1(c) under the Act
requires each investment company relying on the rule to satisfy the
fund governance standards defined in rule 0-1(a)(7) under the Act (the
``Fund Governance Standards''). Applicants request an exemption from
rule 17e-1 to the extent necessary to permit each Partnership to comply
with the rule without having a majority of the directors of the General
Partner who are not interested persons take actions and make
determinations as set forth in paragraph (b) of the rule, and without
having to satisfy the standards set forth in paragraph (c) of the rule.
Applicants state that because all the directors of the General Partner
will be affiliated persons, without the relief requested, a Partnership
could not comply with rule 17e-1. Applicants state that each
Partnership will comply with rule 17e-1 by having a majority of the
directors of the General Partner take actions and make approvals as set
forth in the rule. Applicants state that each Partnership will
otherwise comply with rule 17e-1.
    10. Section 17(f) of the Act designates the entities that may act
as investment company custodians, and rule 17f-1 under the Act imposes
certain requirements when the custodian is a member of a national
securities exchange. Applicants request an exemption from section 17(f)
and subsections (a), (b) (to the extent such subsection refers to
contractual requirements), (c), and (d) of rule 17f-1 to permit a KKR
entity to act as custodian of Partnership assets without a written
contract. Applicants also request an exemption from the rule 17f-
1(b)(4) requirement that an independent accountant periodically verify
the assets held by the custodian. Applicants state that, because of the
community of interest between KKR and the Partnerships and the existing
requirement for an independent audit, compliance with this requirement
would be unnecessary. Applicants will comply with all other
requirements of rule 17f-1.
    11. Applicants also request an exemption from section 17 and rule
17f-2 to permit the following exceptions from the requirements of rule
17f-2: (a) A Partnership's investments may be kept in the locked files
of the KKR LP, the General Partner or the KKR entity that serves as
investment adviser to the Partnership; (b) for purposes of paragraph
(d) of the rule, (i) employees of the General Partner (or KKR) will be
deemed to be employees of the Partnerships, (ii) officers or managers
of the General Partner of a Partnership (or KKR) will be deemed to be
officers of the Partnership and (iii) the General Partner of a
Partnership or its board of directors will be deemed to be the board of
directors of a Partnership and (c) in place of the verification
procedure under paragraph (f) of the rule, verification will be
effected quarterly by two employees, each of whom will have sufficient
knowledge, sophistication and experience in business matters to perform
such examination. Applicants expect that, with respect to certain
Partnerships, some of their investments may be evidenced only by
partnership agreements, participation agreements or similar documents,
rather than by negotiable certificates that could be misappropriated.
Applicants assert that for such a Partnership, these instruments are
most suitably kept in the files of KKR LP, the General Partner, or the
KKR entity that serves as investment adviser to the Partnership, where
they can be referred to as necessary. Applicants will comply with all
other provisions of rule 17f-2.
    12. Section 17(g) of the Act and rule 17g-1 under the Act generally
require the bonding of officers and employees of a registered
investment company who have access to its securities or funds. Rule
17g-1 requires that a majority of directors who are not interested
persons of a registered investment company take certain actions and
give certain approvals relating to fidelity bonding. The rule also
requires that the board of directors of an investment company relying
on the rule satisfy the Fund Governance Standards. Applicants request
relief to permit the General Partner's board of directors, who may be
deemed interested persons, to take actions and make determinations as
set forth in the rule. Applicants state that, because all directors of
the General Partner will be affiliated persons, a Partnership could not
comply with rule 17g-1 without the requested relief. Specifically, each
Partnership will comply with rule 17g-1 by having a majority of the
General Partner's directors take actions and make determinations as set
forth in rule 17g-1. Applicants also request an exemption from the
requirements of: (i) Paragraph (g) of the rule relating to the filing
of copies of fidelity bonds and related information with the Commission
and the provision of notices to the board of directors; (ii) paragraph
(h) of the rule relating to the appointment of a person to make the
filings and provide the notices required by paragraph (g); and (iii)
paragraph (j)(3) of the rule relating to compliance with the Fund
Governance Standards. Applicants state that the fidelity bond of each
Partnership will cover KKR employees who have access to the securities
and funds of the Partnership. Applicants state that the Partnerships
will comply with all other requirements of rule 17g-1.
    13. Section 17(j) of the Act and paragraph (b) of rule 17j-1 under
the Act make it unlawful for certain enumerated persons to engage in
fraudulent or deceptive practices in connection with the purchase or
sale of a security held or to be acquired by a registered investment
company. Rule 17j-1 also requires that every registered investment
company adopt a written code of ethics and that every access person of
a registered investment

company report personal securities transactions. Applicants request an
exemption from section 17(j) and the provisions of rule 17j-1, except
for the anti-fraud provisions of paragraph (b), because they assert
that these requirements are unnecessarily burdensome as applied to the
Partnerships. The relief requested will only extend to KKR entities and
is not requested with respect to any Unaffiliated Subadviser or
Advisory Person.
    14. Applicants request an exemption from the requirements in
sections 30(a), 30(b), and 30(e) of the Act, and the rules under those
sections, that registered investment companies prepare and file with
the Commission and mail to their shareholders certain periodic reports
and financial statements. Applicants contend that the forms prescribed
by the Commission for periodic reports have little relevance to the
Partnerships and would entail administrative and legal costs that
outweigh any benefit to the Limited Partners. Applicants request
exemptive relief to the extent necessary to permit each Partnership to
report annually to its Limited Partners, as described in the
application. Applicants also request an exemption from section 30(h) of
the Act to the extent necessary to exempt the General Partner of each
Partnership, members of the General Partner or any board of managers or
directors or committee of KKR employees to whom the General Partner may
delegate its functions, and any other persons who may be deemed to be
members of an advisory board of a Partnership, from filing Forms 3, 4,
and 5 under section 16(a) of the Exchange Act with respect to their
ownership of Interests in the Partnership. Applicants assert that,
because there will be no trading market and the transfers of Interests
will be severely restricted, these filings are unnecessary for the
protection of investors and burdensome to those required to make them.
    15. Rule 38a-1 requires registered investment companies to adopt,
implement and periodically review written policies reasonable designed
to prevent violation of the federal securities law and to appoint a
chief compliance officer. Each Partnership will comply will rule 38a-
1(a), (c) and (d), except that (i) since the Partnership does not have
a board of directors, the board of directors of the General Partner
will fulfill the responsibilities assigned to the Partnership's board
of directors under the rule, and (ii) since the board of directors of
the General Partner does not have any disinterested members, (a)
approval by a majority of the disinterested board members required by
rule 38a-1 will not be obtained, and (b) the Partnerships will comply
with the requirement in rule 38a-1(a)(4)(iv) that the chief compliance
officer meet with the independent directors by having the chief
compliance officer meet with the board of directors of the General
Partner as constituted.

Applicants' Conditions

    Applicants agree that any order granting the requested relief will
be subject to the following conditions:
    1. Each proposed transaction involving a Partnership otherwise
prohibited by section 17(a) or section 17(d) of the Act and rule 17d-1
under the Act to which a Partnership is a party (the ``Section 17
Transactions'') will be effected only if the General Partner determines
that (i) the terms of the Section 17 Transaction, including the
consideration to be paid or received, are fair and reasonable to the
Limited Partners of the Partnership and do not involve overreaching of
the Partnership or its Limited Partners on the part of any person
concerned, and (ii) the Section 17 Transaction is consistent with the
interests of the Limited Partners, the Partnership's organizational
documents and the Partnership's reports to its Limited Partners.\11\
---------------------------------------------------------------------------

    \11\ If a Partnership invests through an Aggregation Vehicle and
such investment is a Section 17 Transaction, this condition will
apply with respect to both the investment in the Aggregation Vehicle
and any investment by the Aggregation Vehicle of Partnership funds.
---------------------------------------------------------------------------

    In addition, the General Partner of a Partnership will record and
preserve a description of all Section 17 Transactions, the General
Partner's findings, the information or materials upon which the
findings are based and the basis for the findings. All such records
will be maintained for the life of the Partnership and at least six
years thereafter and will be subject to examination by the Commission
and its staff.\12\
---------------------------------------------------------------------------

    \12\ Each Partnership will preserve the accounts, books and
other documents required to be maintained in an easily accessible
place for the first two years.
---------------------------------------------------------------------------

    2. The General Partner of each Partnership will adopt, and
periodically review and update, procedures designed to ensure that
reasonable inquiry is made, prior to the consummation of any Section 17
Transaction, with respect to the possible involvement in the
transaction of any affiliated person or promoter of or principal
underwriter for the Partnership or any affiliated person of such
person, promoter or principal underwriter.
    3. The General Partner of each Partnership will not invest the
funds of the Partnership in any investment in which an ``Affiliated Co-
Investor'' (as defined below) has acquired or proposes to acquire the
same class of securities of the same issuer and where the investment
transaction involves a joint enterprise or other joint arrangement
within the meaning of rule 17d-1 in which the Partnership and an
Affiliated Co-Investor are participants (each such investment, a ``Rule
17d-1 Investment''), unless any such Affiliated Co-Investor, prior to
disposing of all or part of its investment, (i) gives the General
Partner sufficient, but not less than one day's, notice of its intent
to dispose of its investment; and (ii) refrains from disposing of its
investment unless the Partnership has the opportunity to dispose of the
Partnership's investment prior to or concurrently with, on the same
terms as, and pro rata with the Affiliated Co-Investor.\13\ The term
``Affiliated Co-Investor'' with respect to any Partnership means any
person who is: (i) An ``affiliated person'' (as such term is defined in
section 2(a)(3) of the Act) of the Partnership (other than a Third
Party Fund); (ii) KKR; (iii) an officer or director of KKR; (iv) an
Eligible Employee; or (v) an entity (other than a Third Party Fund) in
which a KKR entity acts as a general partner or has a similar capacity
to control the sale or other disposition of the entity's securities.
The restrictions contained in this condition, however, shall not be
deemed to limit or prevent the disposition of an investment by an
Affiliated Co-Investor (i) to its direct or indirect wholly-owned
subsidiary, to any company (a ``Parent'') of which the Affiliated Co-
Investor is a direct or indirect wholly-owned subsidiary or to a direct
or indirect wholly-owned subsidiary of its Parent, (ii) to immediate
family members of the Affiliated Co-Investor or a trust or other
investment vehicle established for any Affiliated Co-Investor or any
such immediate family member, or (iii) when the investment is comprised
of securities that are (a) listed on a national securities exchange
registered under section 6 of the Exchange Act, (b) NMS stocks pursuant
to section 11A(a)(2) of the Exchange Act and rule 600(a) of Regulation
NMS thereunder, (c) government securities as defined in section
2(a)(16) of the Act or other

securities that meet the definition of ``Eligible Security'' in rule
2a-7 under the Act, or (d) listed or traded on any foreign securities
exchange or board of trade that satisfies regulatory requirements under
the law of the jurisdiction in which such foreign securities exchange
or board of trade is organized similar to those that apply to a
national securities exchange or a national market system for
securities.
---------------------------------------------------------------------------

    \13\ If a Partnership invests in a Rule 17d-1 Investment through
an Aggregation Vehicle, the requirements of clauses (i) and (ii) of
this sentence shall apply to both the Affiliated Co-Investor's
disposition of such Rule 17d-1 Investment and, if the Affiliated Co-
Investor also holds a Rule 17d-1 Investment through such Aggregation
Vehicle, its disposition of all or part of its investment in the
Aggregation Vehicle.
---------------------------------------------------------------------------

    4. Each Partnership and its General Partner will maintain and
preserve, for the life of each Series of the Partnership and at least
six years thereafter, such accounts, books and other documents
constituting the record forming the basis for the audited financial
statements that are to be provided to the Limited Partners in the
Partnership, and each annual report of the Partnership required to be
sent to the Limited Partners, and agree that all such records will be
subject to examination by the Commission and its staff.\14\
---------------------------------------------------------------------------

    \14\ Each Partnership will preserve the accounts, books and
other documents required to be maintained in an easily accessible
place for the first two years.
---------------------------------------------------------------------------

    5. Within 120 days after the end of each fiscal year of each
Partnership, or as soon as practicable thereafter, the General Partner
of each Partnership will send to each Limited Partner having an
Interest in the Partnership at any time during the fiscal year then
ended, Partnership financial statements audited by the Partnership's
independent accountants with respect to those Series in which the
Limited Partner had an Interest. At the end of each fiscal year, the
General Partner will make or cause to be made a valuation of all of the
assets of the Partnership as of such fiscal year end in a manner
consistent with customary practice with respect to the valuation of
assets of the kind held by the Partnership. In addition, within 120
days after the end of each fiscal year of each Partnership (or as soon
as practicable thereafter), the General Partner will send a report to
each person who was a Limited Partner at any time during the fiscal
year then ended, setting forth such tax information as shall be
necessary for the preparation by the Limited Partner of that partner's
federal and state income tax returns and a report of the investment
activities of the Partnership during that fiscal year.
    6. If a Partnership makes purchases or sales from or to an entity
affiliated with the Partnership by reason of an officer, director or
employee of a KKR entity (i) serving as an officer, director, general
partner, manager or investment adviser of the entity (other than an
entity that is an Aggregation Vehicle), or (ii) having a 5% or more
investment in the entity, such individual will not participate in the
Partnership's determination of whether or not to effect the purchase or
sale.

    For the Commission, by the Division of Investment Management,
under delegated authority.
 Kevin M. O'Neill,
 Deputy Secretary.
[FR Doc. 2014-13314 Filed 6-6-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: May 15, 2009 (Volume 74, Number 93)]
[Notices]
[Page 22922-22924]
[DOCID:fr15my09-63]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-RCRA-2008-0912, FRL-8904-7]

Agency Information Collection Activities; Proposed Collection;
Comment Request; 2009 Hazardous Waste Report, EPA ICR Number 0976.14,
OMB Control Number 2050-0024

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act (PRA) (44
U.S.C. 3501 et seq.), this document announces that EPA is planning to
submit a request to renew an existing approved Information Collection
Request (ICR) to the Office of Management and Budget (OMB). This ICR is
scheduled to expire on November

30, 2009. Before submitting the ICR to OMB for review and approval, EPA
is soliciting comments on specific aspects of the proposed information
collection as described below.

DATES: Comments must be submitted on or before July 14, 2009.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-HQ-
RCRA-2008-0912, by one of the following methods:
     http://www.regulations.gov: Follow the on-line
instructions for submitting comments.
     E-mail<EMAIL_ADDRESS>     Fax:<PHONE_NUMBER>.
     Mail: RCRA Docket (2822T), U.S. Environmental Protection
Agency, 1200 Pennsylvania Avenue, NW., Washington, DC 20460.
     Hand Delivery: 1301 Constitution Ave., NW., Room 3334,
Washington, DC 20460. 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 No. EPA-HQ-RCRA-
2008-0912. EPA's policy is that all comments received will be included
in the public docket without change and may be made available online 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 http://
www.regulations.gov or e-mail. The http://www.regulations.gov Web site
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 http://www.regulations.gov your e-mail address will be
automatically captured and included as part of the comment that is
placed in the public docket and made available on the Internet. If you
submit 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/dockets.htm.

FOR FURTHER INFORMATION CONTACT: Peggy Vyas, Environmental Protection
Agency, 1200 Pennsylvania Ave., NW., Washington, DC 20460; telephone
number:<PHONE_NUMBER>; fax number:<PHONE_NUMBER>; e-mail address:
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

How Can I Access the Docket and/or Submit Comments?

    EPA has established a public docket for this ICR under Docket ID
No. EPA-HQ-RCRA-2008-0912, which is available for online viewing at
www.regulations.gov, or in person viewing at the RCRA Docket in the EPA
Docket Center (EPA/DC), EPA West, Room 3334, 1301 Constitution Ave.,
NW., Washington, DC. The EPA/DC Public Reading Room is open from 8 a.m.
to 4:30 p.m., Monday through Friday, excluding legal holidays. The
telephone number for the Reading Room is<PHONE_NUMBER>, and the
telephone number for RCRA Docket is<PHONE_NUMBER>.
    Use http://www.regulations.gov to obtain a copy of the draft
collection of information, submit or view public comments, access the
index listing of the contents of the docket, and to access those
documents in the public docket that are available electronically. Once
in the system, select ``search,'' then key in the docket ID number
identified in this document.

What Information Is EPA Particularly Interested in?

    Pursuant to section 3506(c)(2)(A) of the PRA, EPA specifically
solicits comments and information to enable it to:
    (i) Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the Agency,
including whether the information will have practical utility;
    (ii) Evaluate the accuracy of the Agency's estimate of the burden
of the proposed collection of information, including the validity of
the methodology and assumptions used;
    (iii) Enhance the quality, utility, and clarity of the information
to be collected; and
    (iv) Minimize the burden of the collection of information on those
who are to respond, including through the use of appropriate automated
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., permitting electronic
submission of responses. In particular, EPA is requesting comments from
very small businesses (those that employ less than 25) on examples of
specific additional efforts that EPA could make to reduce the paperwork
burden for very small businesses affected by this collection.

What Should I Consider When I Prepare My Comments for EPA?

    You may find the following suggestions helpful for preparing your
comments:
    1. Explain your views as clearly as possible and provide specific
examples.
    2. Describe any assumptions that you used.
    3. Provide copies of any technical information and/or data you used
that support your views.
    4. If you estimate potential burden or costs, explain how you
arrived at the estimate that you provide.
    5. Offer alternative ways to improve the collection activity.
    6. Make sure to submit your comments by the deadline identified
under DATES.
    7. To ensure proper receipt by EPA, be sure to identify the docket
ID number assigned to this action in the subject line on the first page
of your response. You may also provide the name, date, and Federal
Register citation.

What Information Collection Activity or ICR Does This Apply to?

    Affected entities: Entities potentially affected by this action are
Business and State, Local, or Tribal Governments.
    Title: 2009 Hazardous Waste Report.
    ICR numbers: EPA ICR No. 0976.14, OMB Control No. 2050-0024.
    ICR status: This ICR is currently scheduled to expire on November
30, 2009. An Agency may not conduct or sponsor, and a person is not
required to respond to, a collection of information, unless it displays
a currently valid OMB control number. The OMB control numbers for EPA's
regulations in title 40 of the CFR, after appearing in the Federal
Register when approved, are listed in 40 CFR part 9, are displayed
either by publication in the Federal Register or by other appropriate
means, such as on the related collection instrument or form, if
applicable. The display of OMB control numbers in certain EPA
regulations is consolidated in 40 CFR part 9.
    Abstract: This ICR renews an ongoing information collection from
hazardous waste generators and hazardous waste treatment, storage, or
disposal facilities. This collection is done on a two-year cycle as
required by Sections 3002 and 3004 of RCRA. The information is

collected via a mechanism known as the Hazardous Waste Report for the
required reporting year [EPA Form 8700-13 A/B](also known as the
Biennial Report). Both RCRA Sections 3002 and 3004 require EPA to
establish standards for recordkeeping and reporting of hazardous waste
generation and management. Section 3002 applies to hazardous waste
generators and Section 3004 applies to hazardous waste treatment,
storage, and disposal facilities. The implementing regulations are
found at 40 CFR 262.40(b) and (d); 262.41(a)(1)-(5), (a)(8), and (b);
264.75(a)-(e) and (j); 265.75(a)-(e) and (j); and 270.30(l)(9). This is
mandatory reporting by the respondents.
    This ICR renewal includes several changes to the RCRA Subtitle C
Site Identification Form (EPA Form 8700-12) in order to implement two
new final rules: The Revisions to the Definition of Solid Waste,
promulgated on October 30, 2008 (73 FR 64668); and the Standards
Applicable to Generators of Hazardous Waste; Alternative Requirements
for Hazardous Waste Determination and Accumulation of Unwanted Material
at Laboratories Owned by Colleges and Universities and Other Eligible
Academic Entities Formally Affiliated With Colleges and Universities,
promulgated on December 1, 2008 (73 FR 72912).
    Burden Statement: The reporting burden is estimated to average 16.4
hours per respondent, and includes time for reviewing instructions,
gathering data, completing and reviewing the forms, and submitting the
report. The record keeping requirement is estimated to average 2.3
hours per response and includes the time for filing and storing the
Biennial Report submission for three years.
    Burden means the total time, effort, or financial resources
expended by persons to generate, maintain, retain, or disclose or
provide information to or for a Federal agency. This includes the time
needed to review instructions; develop, acquire, install, and utilize
technology and systems for the purposes of collecting, validating, and
verifying information, processing and maintaining information, and
disclosing and providing information; adjust the existing ways to
comply with any previously applicable instructions and requirements
which have subsequently changed; train personnel to be able to respond
to a collection of information; search data sources; complete and
review the collection of information; and transmit or otherwise
disclose the information.
    The ICR provides a detailed explanation of the Agency's estimate,
which is only briefly summarized here:
    Estimated total number of potential respondents: 13,000.
    Frequency of response: Once.
    Estimated total average number of responses for each respondent:
50.
    Estimated total annual burden hours: 700,000 hours.
    Estimated total annual costs: $70,000 annualized capital or O&M
costs.

What Is the Next Step in the Process for This ICR?

    EPA will consider the comments received and amend the ICR as
appropriate. The final ICR package will then be submitted to OMB for
review and approval pursuant to 5 CFR 1320.12. At that time, EPA will
issue another Federal Register notice pursuant to 5 CFR
1320.5(a)(1)(iv) to announce the submission of the ICR to OMB and the
opportunity to submit additional comments to OMB. If you have any
questions about this ICR or the approval process, please contact the
technical person listed under FOR FURTHER INFORMATION CONTACT.

    Dated: February 26, 2009.
Matt Hale,
Director, Office of Resource Conservation and Recovery.
[FR Doc. E9-11410 Filed 5-14-09; 8:45 am]

BILLING CODE 6560-50-P


[Federal Register Volume 74, Number 135 (Thursday, July 16, 2009)]
[Notices]
[Pages 34586-34587]
[FR Doc No: E9-16945]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-1843-DR; Docket ID FEMA-2008-0018]

Alaska; Amendment No. 2 to Notice of a Major Disaster Declaration

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: This notice amends the notice of a major disaster declaration
for the State of Alaska (FEMA-1843-DR), dated June 11, 2009, and
related determinations.

DATES: Effective Date: July 1, 2009.

FOR FURTHER INFORMATION CONTACT: Peggy Miller, Disaster Assistance
Directorate, Federal Emergency Management Agency, 500 C Street, SW.,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The notice of a major disaster declaration
for the State of Alaska is hereby amended to include the following
areas among those areas determined to have been adversely affected by
the event declared a major

disaster by the President in his declaration of June 11, 2009.

Lower Yukon Regional Educational Attendance Area (REAA) for
Individual Assistance.

Yupiit REAA for Individual Assistance (already designated for Public
Assistance).

Lower Yukon REAA for Public Assistance.

Yukon-Koyukuk REAA for Public Assistance (already designated for
Individual Assistance).

(The following Catalog of Federal Domestic Assistance Numbers (CFDA)
are to be used for reporting and drawing funds: 97.030, Community
Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis Counseling;
97.033, Disaster Legal Services; 97.034, Disaster Unemployment
Assistance (DUA); 97.046, Fire Management Assistance Grant; 97.048,
Disaster Housing Assistance to Individuals and Households in
Presidentially Declared Disaster Areas; 97.049, Presidentially
Declared Disaster Assistance--Disaster Housing Operations for
Individuals and Households; 97.050, Presidentially Declared Disaster
Assistance to Individuals and Households--Other Needs; 97.036,
Disaster Grants--Public Assistance (Presidentially Declared
Disasters); 97.039, Hazard Mitigation Grant.)

W. Craig Fugate,
Administrator, Federal Emergency Management Agency.
[FR Doc. E9-16945 Filed 7-15-09; 8:45 am]
BILLING CODE 9111-23-P