Exemption Application No. L-11245; The North Texas Electrical Joint Apprenticeship and Training Trust Fund (the Plan), 5705 [05-2076]

Download as PDF Federal Register / Vol. 70, No. 22 / Thursday, February 3, 2005 / Notices Signed at Washington, DC, this 31st day of January, 2005. Ivan Strasfeld, Director of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor. [FR Doc. 05–2078 Filed 2–2–05; 8:45 am] BILLING CODE 4510–29–P DEPARTMENT OF LABOR Employee Benefits Security Administration Exemption Application No. L–11245; The North Texas Electrical Joint Apprenticeship and Training Trust Fund (the Plan) Employee Benefits Security Administration, Department of Labor (the Department). ACTION: Notice of proposed exemption. AGENCY: On November 8, 2004, the Department published in the Federal Register (69 FR 64788) a notice of a proposed exemption (the Notice) which states that, [i]f the exemption is granted, the restrictions of section 406(a) of the Act shall not apply to the sale (the Sale(s)) of (1) a 1.112 acres of land (Parcel 1) to the North Texas Chapter, National Electrical Contractors Association, a party in interest to the Plan; and (2) 5.383 acres of land (Parcel 2) to Local Union #20, International Brotherhood of Electrical Workers, a party in interest to the Plan, conditioned upon the satisfaction of the following requirements: (a) The Sales are one-time transactions for cash; (b) The Plan does not pay any commissions, costs or other expenses in connection with the Sale of Parcel 1 and Parcel 2 (collectively the Parcels); and (c) The Plan will receive an amount equal to the greater of: (i) $145,000 or the current fair market value of Parcel 1 as established by an independent, qualified, appraiser and updated at the time of the Sale; and (ii) $655,000; or the current fair market value of Parcel 2 as established by an independent, qualified, appraiser and updated at the time of the Sale; and (d) The terms of the Sales will be no less favorable to the Plan than terms it would have received under similar circumstances in an arm’s length negotiations with an unrelated party. On page 64788 of the Notice, the operative language provides relief from the restrictions of section 406(a) of the Act. The Notice should have provided relief from the restrictions of sections 406(a), 406(b)(1) and 406(b)(2) of the Act. Accordingly, the Department VerDate jul<14>2003 19:18 Feb 02, 2005 Jkt 205001 hereby corrects the notice of proposed exemption as set forth below. The proposed exemption is amended to read: If the exemption is granted, the restrictions of sections 406(a), 406(b)(1) and (2) of the Act shall not apply to the sale (the Sale(s)) of (1) a 1.112 acre of land (Parcel 1) to the North Texas Chapter, National Electrical Contractors Association (NECA), a party in interest to the Plan; and (2) 5.383 acres of land to Local Union #20, International Brotherhood of Electrical Workers (IBEW), a party in interest to the Plan. FOR FURTHER INFORMATION CONTACT: Mr. Khalif Ford of the Department at (202) 693–8540. (This is not a toll-free number.) Signed at Washington, DC, this 31st day of January, 2005. Ivan L. Strasfeld, Director of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor. [FR Doc. 05–2076 Filed 2–2–05; 8:45 am] 5705 Alexandria, VA 22314–3428, or at (703) 518–6444. SUPPLEMENTARY INFORMATION: Proposal for the following collection of information: Title: Central Liquidity Facility Repayment Agreement, Regular Member. OMB Number: 3133–0061. Form Number: CLF–8703. Type of Review: Extension of a currently approved collection. Description: The form is used by CLF regular members borrowing from the CLF. Respondents: Credit unions which are CLF regular members who borrow from the CLF. Estimated No. of Respondents/Record keepers: 40. Estimated Burden Hours Per Response: 2.875 hours. Frequency of Response: Other. As the need for borrowing arises. Estimated Total Annual Burden Hours: 115 hours. Estimated Total Annual Cost: 0. By the National Credit Union Administration Board on January 27, 2005. Mary Rupp, Secretary of the Board. [FR Doc. 05–2007 Filed 2–2–05; 8:45 am] BILLING CODE 4510–29–P NATIONAL CREDIT UNION ADMINISTRATION BILLING CODE 7535–01–P Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request National Credit Union Administration (NCUA). ACTION: Request for comment. AGENCY: SUMMARY: The NCUA is submitting the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104–13, 44 U.S.C. Chapter 35). This information collection is published to obtain comments from the public. DATES: Comments will be accepted until March 7, 2005. ADDRESSES: Interested parties are invited to submit written comments to the NCUA Clearance Officer listed below: Clearance Officer: Mr. Neil McNamara, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314–3428, Fax No. 703–518–6669, E-mail: mcnamara@ncua.gov. FOR FURTHER INFORMATION CONTACT: Requests for additional information or a copy of the information collection request, should be directed to Tracy Sumpter at the National Credit Union Administration, 1775 Duke Street, PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 NATIONAL CREDIT UNION ADMINISTRATION Agency Information Collection Activities: Submission to OMB for Extension of a Currently Approved Collection; Comment Request National Credit Union Administration (NCUA). ACTION: Request for comment. AGENCY: SUMMARY: The NCUA is submitting the following information collection to the Office of Management and Budget (OMB) for review and clearance under the Paperwork Reduction Act of 1995 (Pub. L. 104–13, 44 U.S.C. Chapter 35). This information collection is published to obtain comments from the public. DATES: Comments will be accepted until March 7, 2005. ADDRESSES: Interested parties are invited to submit written comments to the NCUA Clearance Officer listed below: Clearance Officer: Mr. Neil McNamara, National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314–3428, Fax No. 703–518–6669, E-mail: mcnamara@ncua.gov. FOR FURTHER INFORMATION CONTACT: Requests for additional information or a E:\FR\FM\03FEN1.SGM 03FEN1

Agencies

[Federal Register Volume 70, Number 22 (Thursday, February 3, 2005)]
[Notices]
[Page 5705]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-2076]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Exemption Application No. L-11245; The North Texas Electrical 
Joint Apprenticeship and Training Trust Fund (the Plan)

AGENCY: Employee Benefits Security Administration, Department of Labor 
(the Department).

ACTION: Notice of proposed exemption.

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

    On November 8, 2004, the Department published in the Federal 
Register (69 FR 64788) a notice of a proposed exemption (the Notice) 
which states that, [i]f the exemption is granted, the restrictions of 
section 406(a) of the Act shall not apply to the sale (the Sale(s)) of 
(1) a 1.112 acres of land (Parcel 1) to the North Texas Chapter, 
National Electrical Contractors Association, a party in interest to the 
Plan; and (2) 5.383 acres of land (Parcel 2) to Local Union 
20, International Brotherhood of Electrical Workers, a party 
in interest to the Plan, conditioned upon the satisfaction of the 
following requirements:
    (a) The Sales are one-time transactions for cash;
    (b) The Plan does not pay any commissions, costs or other expenses 
in connection with the Sale of Parcel 1 and Parcel 2 (collectively the 
Parcels); and
    (c) The Plan will receive an amount equal to the greater of: (i) 
$145,000 or the current fair market value of Parcel 1 as established by 
an independent, qualified, appraiser and updated at the time of the 
Sale; and (ii) $655,000; or the current fair market value of Parcel 2 
as established by an independent, qualified, appraiser and updated at 
the time of the Sale; and
    (d) The terms of the Sales will be no less favorable to the Plan 
than terms it would have received under similar circumstances in an 
arm's length negotiations with an unrelated party.
    On page 64788 of the Notice, the operative language provides relief 
from the restrictions of section 406(a) of the Act. The Notice should 
have provided relief from the restrictions of sections 406(a), 
406(b)(1) and 406(b)(2) of the Act. Accordingly, the Department hereby 
corrects the notice of proposed exemption as set forth below. The 
proposed exemption is amended to read:
    If the exemption is granted, the restrictions of sections 406(a), 
406(b)(1) and (2) of the Act shall not apply to the sale (the Sale(s)) 
of (1) a 1.112 acre of land (Parcel 1) to the North Texas Chapter, 
National Electrical Contractors Association (NECA), a party in interest 
to the Plan; and (2) 5.383 acres of land to Local Union 20, 
International Brotherhood of Electrical Workers (IBEW), a party in 
interest to the Plan.

FOR FURTHER INFORMATION CONTACT: Mr. Khalif Ford of the Department at 
(202) 693-8540. (This is not a toll-free number.)

    Signed at Washington, DC, this 31st day of January, 2005.
Ivan L. Strasfeld,
Director of Exemption Determinations, Employee Benefits Security 
Administration, U.S. Department of Labor.
[FR Doc. 05-2076 Filed 2-2-05; 8:45 am]
BILLING CODE 4510-29-P

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