[Federal Register Volume 81, Number 219 (Monday, November 14, 2016)]
[Notices]
[Pages 79548-79549]
[FR Doc No: 2016-27249]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 32353; File No. 812-14654]

The Boston Trust & Walden Funds, et al.; Notice of Application

November 7, 2016.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of an application for an order pursuant to: (a) Section
6(c) of the Investment Company Act of 1940 (``Act'') granting an
exemption from sections 18(f) and 21(b) of the Act; (b) section
12(d)(1)(J) of the Act granting an exemption from section 12(d)(1) of
the Act; (c) sections 6(c) and 17(b) of the Act granting an exemption
from sections 17(a)(1), 17(a)(2) and 17(a)(3) of the Act; and (d)
section 17(d) of the Act and rule 17d-1 under the Act to permit certain
joint arrangements and transactions. Applicants request an order that
would permit certain registered open-end management investment
companies to participate in a joint lending and borrowing facility.

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Applicants: The Boston Trust & Walden Funds, registered under the Act
as an open-end management investment company with one or more series,
and Boston Trust Investment Management, Inc. (the ``Adviser''),
registered as an investment adviser under the Investment Advisers Act
of 1940.

Filing Dates: The application was filed on June 3, 2016, and amended on
August 18, 2016 and October 18, 2016.

Hearing or Notification of Hearing: An order granting the requested
relief will be issued unless the Commission orders a hearing.
Interested persons may request a hearing by writing to the Commission's
Secretary and serving applicants with a copy of the request, personally
or by mail. Hearing requests should be received by the Commission by
5:30 p.m. on December 1, 2016 and should be accompanied by proof of
service on the applicants, in the form of an affidavit, or, for
lawyers, a certificate of service. Pursuant to Rule 0-5 under the Act,
hearing requests should state the nature of the writer's interest, any
facts bearing upon the desirability of a hearing on the matter, the
reason for the request, and the issues contested. Persons who wish to
be notified of a hearing may request notification by writing to the
Commission's Secretary.

ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549-1090; Applicants, c/o Michael V.
Wible, Esq., Thompson Hine LLP, 41 South High Street, Suite 1700,
Columbus, OH 43215.

FOR FURTHER INFORMATION CONTACT: Jennifer Palmer, Senior Counsel, at
(202) 551-5786 or Nadya Roytblat, Assistant Chief Counsel, at (202)
551-6823 (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>.

Summary of the Application

    1. Applicants request an order that would permit the applicants to
participate in an interfund lending facility where each Fund could lend
money directly to and borrow money directly from other Funds to cover
unanticipated cash shortfalls, such as unanticipated redemptions or
trade fails.\1\ The Funds will borrow under the facility only to
satisfy their short-term cash needs, and the loans' duration will be no
more than 7 days.\2\
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    \1\ Applicants request that the order apply to the applicants
and to any existing or future registered open-end management
investment company or series thereof for which the Adviser or any
successor thereto or an investment adviser controlling, controlled
by, or under common control with the Adviser or any successor
thereto serves as investment adviser (each a ``Fund'' and
collectively the ``Funds'' and each such investment adviser an
``Adviser''). For purposes of the requested order, ``successor'' is
limited to any entity that results from a reorganization into
another jurisdiction or a change in the type of a business
organization.
    \2\ Any Fund, however, will be able to call a loan on one
business day's notice.
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    2. Applicants anticipate that the proposed facility would provide a
borrowing Fund with a source of liquidity at a rate lower than the bank
borrowing rate at times when the cash position of the Fund is
insufficient to meet temporary cash requirements. In addition, Funds
making short-term cash loans directly to other Funds would earn
interest at a rate higher than they otherwise could obtain from
investing their cash in repurchase agreements or certain other short-
term money market instruments. Thus, applicants assert that the
facility would benefit both borrowing and lending Funds.
    3. Applicants agree that any order granting the requested relief
will be subject to the terms and conditions stated in the application.
Among others, the Adviser, through a designated committee, would
administer the facility as a disinterested fiduciary as part of its
duties under the investment management agreements with the Funds and
would receive no additional fee as compensation for its services in
connection with the administration of the facility, except that the
Adviser could collect standard fees for transaction-related services.
The facility would be subject to oversight and certain approvals by the
Funds' Board, including, among others, approval of the interest rate
formula and of the method for allocating loans across Funds, as well as
review of the process in place to evaluate the liquidity implications
for the Funds. A Fund's aggregate outstanding interfund loans will not
exceed 15% of its net assets, and the Fund's loans to any one Fund will
not exceed 5% of the lending Fund's net assets.\3\
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    \3\ Under certain circumstances, a borrowing Fund will be
required to pledge collateral to secure the loan.
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    4. Applicants assert that the facility does not raise the concerns
underlying section 12(d)(1) of the Act given that the Funds are part of
the same group of investment companies and there will be no duplicative
costs or fees to the Funds.\4\ Applicants also assert that the proposed
transactions do not raise the concerns underlying sections 17(a)(1),
17(a)(3), 17(d) and 21(b) of the Act as the Funds would not engage in
lending transactions that unfairly benefit insiders or are detrimental
to the Funds. Applicants state that the facility will offer both
reduced borrowing costs and enhanced returns on loaned funds to all
participating Funds and each Fund would have an equal opportunity to
borrow and lend on equal terms based on an interest rate formula that
is objective and verifiable. With respect to the relief from section
17(a)(2) of the Act, applicants note that any collateral pledged to
secure an interfund loan would be subject to the same conditions
imposed by any other lender to a Fund that imposes conditions on the
quality of or access to collateral for a borrowing (if the lender is
another Fund) or the

same or better conditions (in any other circumstance).\5\
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    \4\ Applicants state that the obligation to repay an interfund
loan could be deemed to constitute a security for the purposes of
sections 17(a)(1) and 12(d)(1) of the Act.
    \5\ Applicants state that any pledge of securities to secure an
interfund loan could constitute a purchase of securities for
purposes of section 17(a)(2) of the Act.
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    5. Applicants also believe that the limited relief from section
18(f)(1) of the Act that is necessary to implement the facility
(because the lending Funds are not banks) is appropriate in light of
the conditions and safeguards described in the application and because
the Funds would remain subject to the requirement of section 18(f)(1)
that all borrowings of a Fund, including combined interfund loans and
bank borrowings, have at least 300% asset coverage.
    6. Section 6(c) of the Act permits the Commission to exempt any
persons or transactions from any provision of the Act 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. Section 12(d)(1)(J) of the Act
provides that the Commission may exempt any person, security, or
transaction, or any class or classes of persons, securities, or
transactions, from any provision of section 12(d)(1) if the exemption
is consistent with the public interest and the protection of investors.
Section 17(b) of the Act authorizes the Commission to grant an order
permitting a transaction otherwise prohibited by section 17(a) if it
finds that (a) the terms of the proposed transaction are fair and
reasonable and do not involve overreaching on the part of any person
concerned; (b) the proposed transaction is consistent with the policies
of each registered investment company involved; and (c) the proposed
transaction is consistent with the general purposes of the Act. Rule
17d-1(b) under the Act provides that in passing upon an application
filed under the rule, the Commission will consider whether the
participation of the registered investment company in a joint
enterprise, joint arrangement or profit sharing plan on the basis
proposed is consistent with the provisions, policies and purposes of
the Act and the extent to which such participation is on a basis
different from or less advantageous than that of the other
participants.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Brent J. Fields,
Secretary.
[FR Doc. 2016-27249 Filed 11-10-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: January 27, 2010 (Volume 75, Number 17)]
[Notices]
[Page 4381-4383]
[DOCID:fr27ja10-80]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2009-0091; FRL-8807-3]

Pesticide Experimental Use Permit; Receipt of Amendment and
Extension Application; Comment Request

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: This notice announces EPA's receipt of an application 29964-
EUP-6 from Pioneer Hi-Bred International, Incorporated requesting to
amend and extend an existing experimental use permit (EUP) for the
following plant-incorporated protectants (PIPs) and their associated
combined-trait hybrids. The Agency has determined that the permit may
be of regional and national significance. Therefore, in accordance with
40 CFR 172.11(a), the Agency is soliciting comments on this
application.

DATES: Comments must be received on or before February 26, 2010.

ADDRESSES: Submit your comments, identified by docket identification
(ID) number EPA-HQ-OPP-2009-0091, by one of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov.
Follow the on-line instructions for submitting comments.
     Mail: Office of Pesticide Programs (OPP) Regulatory Public
Docket (7502P), Environmental Protection Agency, 1200 Pennsylvania
Ave., NW., Washington, DC 20460-0001.
     Delivery: OPP Regulatory Public Docket (7502P),
Environmental Protection Agency, Rm. S-4400, One Potomac Yard (South
Bldg.), 2777 S. Crystal Dr., Arlington,VA. Deliveries are only accepted
during the Docket Facility's normal hours of operation (8:30 a.m. to 4
p.m., Monday through Friday, excluding legal holidays). Special
arrangements should be made for deliveries of boxed information. The
Docket Facility telephone number is<PHONE_NUMBER>.
    Instructions: Direct your comments to docket ID number EPA-HQ-OPP-
2009-0091. EPA's policy is that all comments received will be included
in the 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 automatically captured and included as part
of the comment that is placed in the 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.
    Docket: All documents in the docket are listed in the docket index
available at http://www.regulations.gov. Although listed in the index,
some information is not publicly available, e.g., CBI or other
information whose disclosure is restricted by statute. Certain other
material, such as copyrighted material, is not placed on the Internet
and will be publicly available only in hard copy form. Publicly
available docket materials are available either in the electronic
docket at http://www.regulations.gov, or, if only available in hard
copy, at the OPP Regulatory Public Docket in Rm. S-4400, One Potomac
Yard (South Bldg.), 2777 S. Crystal Dr., Arlington, VA. The hours of
operation of this Docket Facility are from 8:30 a.m. to 4 p.m., Monday
through Friday, excluding legal holidays. The Docket Facility telephone
number is<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Jeannine Kausch, Biopesticides and
Pollution Prevention Division (7511P), Office of Pesticide Programs,
Environmental Protection Agency, 1200 Pennsylvania Ave., NW.,
Washington, DC 20460-0001; telephone 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. This action may,
however, be of interest to those persons interested in agricultural
biotechnology or those who are or may be required to conduct testing of
chemical substances under the Federal Food, Drug, and Cosmetic Act
(FFDCA) or the Federal Insecticide, Fungicide, and Rodenticide Act
(FIFRA). Since other entities 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
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 ID 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.
    3. Environmental justice. EPA seeks to achieve environmental
justice, the fair treatment and meaningful involvement of any group,
including minority and/or low income populations, in the development,
implementation, and enforcement of environmental laws, regulations, and
policies. To help address potential environmental justice issues, the
Agency seeks information on any groups or segments of the population
who, as a result of their location, cultural practices, or other
factors, may have atypical or disproportionately high and adverse

human health impacts or environmental effects from exposure to the
pesticide(s) discussed in this document, compared to the general
population.

II. What Action is the Agency Taking?

    Under Section 5 of the Federal Insecticide, Fungicide, and
Rodenticide Act (FIFRA), 7 U.S.C. 136c, EPA can allow manufacturers to
field test pesticides under development. Manufacturers are required to
obtain an EUP before testing new pesticides or new uses of pesticides
if they conduct experimental field tests on 10 acres or more of land or
one acre or more of water.
    In accordance with 40 CFR 172.11(a), the Agency has determined that
the following EUP application may be of regional and national
significance, and therefore is seeking public comment on the EUP
application:
    Submitter: Pioneer Hi-Bred International, Incorporated, (29964-EUP-
6).
    Pesticide Chemicals: Bacillus thuringiensis Cry1F protein and the
genetic material necessary (vector PHP8999) for its production in corn
event TC1507 (Organization for Economic Cooperation and Development
(OECD) Unique Identifier: DAS-01507-1), Bacillus thuringiensis Cry34Ab1
and Cry35Ab1 proteins and the genetic material necessary (vector
PHP17662) for their production in corn event DAS-59122-7 (OECD Unique
Identifier: DAS-59122-7), Bacillus thuringiensis Cry1Ab delta-endotoxin
protein and the genetic material necessary (vector pZO1502) for its
production in corn event Bt11 (OECD Unique Identifier: SYN-BT011-1),
Bacillus thuringiensis Cry1Ab delta-endotoxin protein and the genetic
material necessary (vector PV-ZMCT01) for its production in corn event
MON 810 (OECD Unique Identifier: MON-00810-6), Bacillus thuringiensis
Vip3Aa20 insecticidal protein and the genetic material necessary
(vector pNOV1300) in corn event MIR162 (OECD Unique Identifier: SYN-
IR162-4), and Bacillus thuringiensis mCry3A protein and the genetic
material necessary (vector pZM26) in corn event MIR604 (OECD Unique
Identifier: SYN-IR604-5).
    Summary of Request: Pioneer Hi-Bred International, Incorporated has
requested an amendment and extension of experimental use permit 29964-
EUP-6, which was first granted on April 22, 2009. Under the existing
EUP, plantings are permitted through March 31, 2010. Pioneer Hi-Bred
International, Incorporated is now proposing to extend the experimental
program until June 30, 2011 and to amend it by conducting testing with
up to 1.52 pounds of Cry1F protein, 19.52 pounds of Cry34Ab1 and
Cry35Ab1 proteins, 0.16 pounds of Cry1Ab protein (MON 810), 14.51
pounds of Vip3Aa20 protein, 0.47 pounds of mCry3A protein, and 0.16
pounds of Cry1Ab protein (Bt11) on 33,311 acres (1,414 acres of non-PIP
and border corn plants are also proposed for a total of 34,725 acres).
The proposed program will be conducted in the Commonwealth of Puerto
Rico and States of Arkansas, California, Colorado, Georgia, Hawaii,
Iowa, Illinois, Indiana, Kansas, Louisiana, Michigan, Minnesota,
Missouri, Mississippi, North Carolina, Nebraska, Oklahoma, Oregon,
Pennsylvania, South Dakota, Tennessee, Texas, Washington, and
Wisconsin. Trial protocols will concentrate on nursery/breeding
observation, yield and agronomic evaluation, efficacy, insect
resistance management, inbred and hybrid seed production, and
regulatory studies.
    A copy of the application and any information submitted is
available for public review in the docket established for this EUP
application as described under ADDRESSES.
    Following the review of the application and any comments and data
received in response to this solicitation, EPA will decide whether to
issue or deny the EUP request, and if issued, the conditions under
which it is to be conducted. Any issuance of an EUP will be announced
in the Federal Register.

List of Subjects

    Environmental protection, Experimental use permits.

    Dated: January 14, 2010.
Keith A. Matthews,
Acting Director, Biopesticides and Pollution Prevention Division,
Office of Pesticide Programs.
[FR Doc. 2010-1356 Filed 1-26-10; 8:45 am]
BILLING CODE 6560-50-S