Commission Authorization To Hold Interlocking Directorates, 17219-17223 [05-6690]

Download as PDF Federal Register / Vol. 70, No. 64 / Tuesday, April 5, 2005 / Proposed Rules 17219 Unsafe Condition (d) This AD was prompted by a report of numerous cracked rudder pedal brackets found during inspections of certain affected airplanes. We are issuing this AD to prevent failure of the rudder pedal bracket assembly, which could result in the loss of rudder and braking control at either the captain’s or first officer’s position. bracket assembly in accordance with ASB A27–273 or A27–307, as applicable. Prior to the accumulation of 40,000 total landings after replacement with the new part, resume the repetitive inspections in accordance with paragraph (f) in this AD. DEPARTMENT OF ENERGY New Requirements of This AD [Docket No. RM05–6–000] Terminating Action for Certain Airplanes Compliance (e) You are responsible for having the actions required by this AD performed within the compliance times specified, unless the actions have already been done. (h) For McDonnell Douglas Model DC–9– 10, –20, –30, –40, and –50 series airplanes; Model DC–9–81 (MD–81), DC–9–82 (MD–82), DC–9–83 (MD–83), DC–9–87 (MD–87) airplanes; and Model MD–88 airplanes: Do the actions in paragraphs (h)(1) and (h)(2) of this AD in accordance with the Accomplishment Instructions of McDonnell Douglas Alert Service Bulletin A27–307, Revision 6, dated December 19, 1994. (1) Before the accumulation of 75,000 total landings on the captain’s rudder pedal bracket assembly, P/N 5616067–501, or within 60 months after the effective date of this AD, whichever occurs later: Remove the rudder pedal bracket assembly and replace it with new, improved P/N 5962903–501. Accomplishment of the replacement terminates the repetitive inspections of the captain’s rudder pedal bracket assembly required by paragraphs (f) and (g) of this AD. (2) Before the accumulation of 75,000 total landings on the first officer’s rudder pedal bracket assembly, P/N 5616068–501, or within 60 months after the effective date of this AD, whichever occurs later: Remove the rudder pedal bracket assembly and replace it with new, improved P/N 5962904–501. Accomplishment of the replacement terminates the repetitive inspections of the first officer’s rudder pedal bracket assembly required by paragraphs (f) and (g) of this AD. Commission Authorization To Hold Interlocking Directorates Requirements of AD 89–14–02 (f) Prior to the accumulation of 40,000 total landings or within 30 days after July 5, 1989 (the effective date of AD 89–14–02), whichever occurs later, perform either a general visual inspection or dye penetrant inspection for cracks of the captain’s and first officer’s rudder pedal bracket, part numbers (P/N) 5616067 and 5616068, respectively, in accordance with McDonnell Douglas Alert Service Bulletins A27–273 (for Model DC–8– 11, DC–8–12, DC–8–21, DC–8–31, DC–8–32, DC–8–33, DC–8–41, DC–8–42, and DC–8–43 airplanes; Model DC–8F–54 and DC–8F–55 airplanes; and Model DC–8–50, –60, –60F, –70, and –70F series airplanes) or A27–307 (for Model DC–9–10, –20, –30, –40, and –50 series airplanes; Model DC–9–81 (MD–81), DC–9–82 (MD–82), DC–9–83 (MD–83), and DC–9–87 (MD–87) airplanes; and Model MD– 88 airplanes), as applicable, both dated May 16, 1989. Note 1: For the purposes of this AD, a general visual inspection is: ‘‘A visual examination of an interior or exterior area, installation, or assembly to detect obvious damage, failure, or irregularity. This level of inspection is made from within touching distance unless otherwise specified. A mirror may be necessary to ensure visual access to all surfaces in the inspection area. This level of inspection is made under normally available lighting conditions such as daylight, hangar lighting, flashlight, or droplight and may require removal or opening of access panels or doors. Stands, ladders, or platforms may be required to gain proximity to the area being checked.’’ Note 2: McDonnell Douglas Alert Service Bulletins A27–273 and A27–307, both dated May 16, 1989, are hereinafter referred to as ASB A27–273 and ASB A27–307, respectively. (1) If an initial general visual inspection is accomplished, and no cracks are found, perform a dye penetrant inspection of the rudder pedal bracket assembly within 180 days after the general visual inspection, and thereafter accomplish dye penetrant inspections at intervals not to exceed 12 months or 2,500 landings, whichever occurs earlier. (2) If an initial dye penetrant inspection is accomplished, and no cracks are found, accomplish repetitive dye penetrant inspections at intervals not to exceed 12 months or 2,500 landings, whichever occurs earlier. (g) If cracks are detected, prior to further flight, remove and replace the rudder pedal VerDate jul<14>2003 15:05 Apr 04, 2005 Jkt 205001 Credit for Previous Service Bulletins (i) Actions done before the effective date of this AD in accordance with McDonnell Douglas Alert Service Bulletin A27–307, Revision 5, dated February 14, 1992; or Revision 4, dated June 3, 1991, are acceptable for compliance with the corresponding requirements of this AD. Alternative Methods of Compliance (AMOCs) (j)(1) The Manager, Los Angeles Aircraft Certification Office, Transport Airplane Directorate, FAA, has the authority to approve AMOCs for this AD, if requested in accordance with the procedures found in 14 CFR 39.19. (2) AMOCs, approved previously in accordance with AD 89–14–02, amendment 39–6245, are approved as AMOCs for the corresponding requirements of this AD. Issued in Renton, Washington, on March 22, 2005. Ali Bahrami, Manager, Transport Airplane Directorate, Aircraft Certification Service. [FR Doc. 05–6679 Filed 4–4–05; 8:45 am] Frm 00008 Fmt 4702 18 CFR Part 45 March 25, 2005. Federal Energy Regulatory Commission, Energy. ACTION: Notice of proposed rulemaking. AGENCY: SUMMARY: The Federal Energy Regulatory Commission is proposing to amend its regulations to clarify the time frame within which individuals must file applications for authorization to hold interlocking positions, and the information provided in certain informational reports required for automatic authorization of certain interlocking positions. DATES: Comments are due June 6, 2005. ADDRESSES: Comments may be filed electronically via the eFiling link on the Commission’s Web site at https:// www.ferc.gov. Commentors unable to file comments electronically must send original and 14 copies of their comments to: Federal Energy Regulatory Commission, Office of the Secretary, 888 First Street NE., Washington, DC 20426. Refer to the Comment Procedures section of the preamble for additional information on how to file comments. FOR FURTHER INFORMATION CONTACT: James Akers (Technical Information), Office of Markets, Tariffs and Rates, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426, (202) 502– 8101. Melissa Mitchell (Legal Information), Office of the General Counsel, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426, (202) 502–6038. SUPPLEMENTARY INFORMATION: 1. Section 305(b) of the Federal Power Act (FPA) 1 prohibits individuals from concurrently holding positions as officer or director of more than one public utility; or to hold the positions of officer or director of a public utility and of an entity authorized by law to underwrite or participate in the marketing of public utility securities; or to hold the positions of officer or director of a public utility and a company supplying electrical equipment to that particular public utility, unless the holding of 1 16 BILLING CODE 4910–13–P PO 00000 Federal Energy Regulatory Commission Sfmt 4702 E:\FR\FM\05APP1.SGM U.S.C. 825d(b)(2000). 05APP1 17220 Federal Register / Vol. 70, No. 64 / Tuesday, April 5, 2005 / Proposed Rules such positions has been authorized by the Commission upon a showing that neither public nor private interests will be adversely affected thereby.2 2. The Commission implemented Congress’ mandate in part 45 of the Commission’s regulations.3 Section 45.3 of the regulations currently states that ‘‘the holding of positions within the purview of [section 305(b)] shall be unlawful unless the holding shall have been authorized by order of the Commission. Nothing in this part shall be construed as authorizing the holding of positions prior to the order of the Commission on application therefor. Applications shall be filed within 30 days after election or appointment to any positions within the purview of section 305(b) of the Act.’’ 4 3. In this Notice of Proposed Rulemaking (NOPR), the Commission is proposing to clarify the time at which a person must apply for authorization to hold interlocking positions under section 305(b) of the FPA and part 45 of the Commission’s regulations. Specifically, and as described more fully below, we propose to clarify in revised section 45.3 that persons are prohibited from holding interlocking positions prior to receiving authorization from the Commission, and that ‘‘holding’’ shall mean acting as, serving as, voting as, or otherwise performing or assuming the duties and responsibilities of the interlocking positions for which the authorization is requested. Similarly, we propose to clarify in revised section 45.9 when filings need to be made. Finally, we solicit comments on the continued waiver of the full requirements of part 45 for officers and directors of certain public utilities with market-based rate authority. Background 4. Section 305(b) of the FPA prohibits persons from concurrently holding positions as an officer or director of more than one public utility; or to hold the positions of officer or director of a public utility and of an entity authorized by law to underwrite or participate in the marketing of public utility securities; 5 or to hold the positions of an officer or director of a public utility and of a company supplying electrical equipment to that particular public utility, unless the holding of such positions ‘‘shall have 2 Id. 3 18 CFR part 45 (2004). 4 18 CFR 45.3 (2004). 5 However, section 305(b)(2) of the FPA, 16 U.S.C. 825d(b)(2) (2000), exempts from this prohibition certain interlocks between public utilities and securities underwriters and marketers. VerDate jul<14>2003 15:05 Apr 04, 2005 Jkt 205001 been authorized by order of the Commission’’ upon a finding that neither public nor private interests will be adversely affected thereby. The Commission’s regulations, 18 CFR part 45 (2004), currently require that an application for approval be filed within 30 days of election or appointment to a qualifying position. If an application is filed after 30 days, it is considered late. The Commission has stated in previous orders that it does not look favorably on late-filed applications for authorization to hold interlocking positions.6 5. In examining Congress’ intent in enacting section 305(b) of the FPA, the Commission has explained that ‘‘among the evils sought to be eliminated by the enactment of section 305(b)’’ was ‘‘the lack of arm’s length dealings between public utilities and organizations furnishing financial services or electrical equipment.’’ 7 In this regard, the legislative history indicates that with respect to section 305(b) of the FPA ‘‘Congress exhibited a relentless interest in, bordering on an obsession with, the evils of concentration of economic power in the hands of a few individuals. It recognized that the conflicts of interest stemming from the presence of the same few persons on boards of companies with intersecting interests generated subtle and difficultto-prove failures in the arm’s length bargaining process.’’ 8 Applications for Authorization to Hold Interlocking Positions 6. While the statute requires prior authorization to hold otherwise proscribed interlocking positions, the regulations allow for applications to be filed up to 30 days after the fact and also do not expressly address how applications filed more than 30 days late should be treated. 7. Consistent with the statute’s express direction as well as its underlying intent, the Commission proposes to clarify § 45.3 to provide that an application must be filed, and authorization granted, before a person may hold otherwise proscribed interlocking positions, and that latefiled applications will be denied. 6 William T. Coleman, 21 FERC ¶ 61,242 at 61,535 n.3 (1982). 7 Paul H. Henson, 51 FERC ¶ 61,104 at 61,231 (1990), citing John Edward Aldred, 2 FPC 247,261 (1940). 8 Hatch v. FERC, 654 f.2d 825, 831 (DC Cir. 1981) (Hatch), citing, e.g., 79 Cong. Rec. 10379 (1935) (remarks of Representative Lea), 79 Cong. Rec. 8524 (1935) (remarks of Sen. Norris), and 15 U.S.C. 79a(b)(2)(2000); see also Paul H. Henson, 51 FERC ¶ 61,104 at 61,230 n.5 (1990) (discussing this quotation). PO 00000 Frm 00009 Fmt 4702 Sfmt 4702 Automatic Authorization of Certain Interlocking Positions 8. In addition to clarifying § 45.3, the Commission also proposes to clarify § 45.9, which governs automatic authorization for certain interlocking positions. Section 45.9 of the Commission’s regulations provides that a person seeking to hold the positions of (1) an officer or director of a public utility and officer or director of another public utility (or utilities), where the same holding company owns, directly or indirectly, wholly or in part, the other public utility, (2) an officer or director of two public utilities, if one utility is owned, wholly or in part, by the other and (3) an officer or director of more than one public utility, if such person is already authorized under part 45 to hold different positions where the interlock involves affiliated public utilities, may apply for ‘‘automatic authorization’’ to hold the interlocking positions.9 The regulations require that, as a condition of such authorization, persons seeking automatic authorization under § 45.9 must file with the Commission an informational report containing the full name and business address of the person requesting authorization, the names of all public utilities that the person holds or seeks to hold positions with, the names of any other entity that the person serves as an officer or director of and a brief description of those positions, and an explanation of the corporate relationship between or among the public utilities involved. This informational report is required to be filed ‘‘not later than 30 days after assuming the duties of the position.’’ 10 The Commission proposes to change the current regulation to require that informational reports for automatic authorization must be filed with the Commission prior to an officer or director assuming the duties of the requested interlocking position. 9. The Commission proposes to address the issue of the timeliness of the informational filings for automatic authorization. Increasingly, the Commission is receiving informational reports under § 45.9 that are filed after the 30-day deadline specified for submitting the informational reports. While the Commission believes that the current regulation regarding automatic authorization is clear with regard to 9 Automatic authorization is only for interlocking positions between two or more public utilities; it does not authorize a person to hold an interlocking position with, for example, an electrical equipment supplier. For those interlocking positions, an application under section 45.3 is required. 10 18 CFR 45.9(b) (2004) E:\FR\FM\05APP1.SGM 05APP1 Federal Register / Vol. 70, No. 64 / Tuesday, April 5, 2005 / Proposed Rules when a person must file an informational report, the Commission proposes to include an additional requirement in the informational report. Currently, the informational report outlined in § 45.9(c) does not require persons to state when they assumed the positions for which they seek automatic authorization. Therefore, in order to assist the Commission in determining the timeliness of the informational report, the Commission proposes to add a requirement that persons state the dates that they assumed the positions for which they seek automatic authorization under § 45.9; a person will not be entitled to automatic authorization if that person’s informational report is untimely, as the person will not have satisfied the condition of timely submission of an informational report. Waiver of Part 45 in Commission Orders Granting Market-Based Rate Authority 10. The Commission provides certain persons with a waiver of the full requirements of part 45. An ‘‘abbreviated’’ filing requirement, with essentially ‘‘automatic authorization’’, has developed in Commission orders granting market-based rates for certain public utilities. While the Commission has explained that it cannot waive the statutory requirements regarding authorization of interlocking positions, the Commission did lessen the filing requirements and permit the filing of an ‘‘abbreviated statement identifying any jurisdictional interlock.’’ 11 The authority to make these abbreviated filings is granted in orders that permit companies to charge market-based rates. Typical language in these market-based rates orders, regarding abbreviated filings, states: [U]ntil further order of this Commission, the full requirements of Part 45 of the Commission’s regulations, except as noted below, are hereby waived with respect to any person now holding or who may hold an otherwise proscribed interlocking directorate involving the applicants. Any such person instead shall file a sworn application providing the following information: (a) Full name and business address; and (b) All jurisdictional interlocks, identifying the affected companies and the positions held by that person.12 11. Since the abbreviated filings only require the identification of affected companies and positions held by the applicant, there is no description in the abbreviated filing of what business the affected company is engaged in. This lack of information makes it difficult for the Commission to determine the nature of the interlock and how, if at all, it might adversely affect public or private interests. In addition, this abbreviated filing is not required before the person begins holding the interlocking position. Since the provisions of section 305(b) of the FPA are intended to be prophylactic in nature and prevent any harm from a person holding otherwise prohibited interlocking positions, the lack of timely information from these abbreviated filings can make it very difficult to determine if the interlock might adversely affect public or private interests. 12. Therefore, the Commission is examining the possibility of no longer granting a waiver of the full requirements of part 45 in its orders granting market-based rate authority. Rather, the Commission would require that for public utilities that receive authority to charge market-based rates, their officers and directors would still 17221 need to comply with the full requirements of part 45 and timely file any applications for Commission authorization to hold any interlocking positions that meet the requirements set forth in § 305(b) of the FPA. The Commission seeks comments. 13. It is important to note, however, that this proposal essentially to cease granting waivers of part 45 in orders granting market-based rate authority would not apply to those persons who may qualify for automatic authorization of their interlocking positions under § 45.9 of the Commission’s regulations. Automatic authorization would remain unchanged should we cease to grant waivers of the full requirements of part 45 in orders granting market-based rate authority. Information Collection Statement 14. The following collection of information contained in this proposed rule has been submitted to the Office of Management and Budget (OMB) for review under § 3507(d) of the Paperwork Reduction Act of 1995.13 OMB’s regulations require OMB to approve certain information collection requirements imposed by agency rule.14 Comments are solicited on the need for this information, whether the information will have practical utility, the accuracy of the provided burden estimates, ways to enhance the quality, utility, and clarity of the information to be collected, and any suggested methods for minimizing respondent’s burden, including the use of automated information techniques. The additional information the Commission proposes to require should have a minimal impact on the current reporting burden which is as follows: Data collection Number of respondents Number of responses Hours per response Total annual hours FERC–520 ....................................................................................................... 28 1 51.8 1,450 Total Annual Hours for Collection (reporting + recordkeeping, if appropriate) = 1,450. Information Collection Costs: The Commission seeks comments on the costs to comply with these requirements. It has projected the average annualized cost of all respondents to be: 1,450 hours ÷ 2,080 hours × $108,558 = $75,677. Cost per respondent is $2,703. The estimate of costs for respondents is based upon salaries for professional and clerical support, as well as direct and indirect costs. Direct costs include all costs directly attributable to providing this information, such as administrative costs and the cost of information technology. Indirect or overhead costs are costs incurred by an organization in support of its mission. These costs apply to activities which benefit the 11 E.g. Citizens Energy Corporation, 35 FERC ¶ 61,198 at 61,455 (1986); Howell Gas Management Company, 40 FERC ¶ 61,336 at 62,025 (1987); Torco Energy Marketing, Inc., 48 FERC ¶ 61,294 at 61,948 (1989); National Electric Associates. Limited Partnership, 50 FERC ¶ 61,378 at 62,157 (1990). 12 CLECO Energy, LLC, 82 FERC ¶ 61,152 at 61,557 (1998). VerDate jul<14>2003 15:05 Apr 04, 2005 Jkt 205001 PO 00000 Frm 00010 Fmt 4702 Sfmt 4702 whole organization rather than any one particular function or activity. Title: FERC–520, ‘‘Application for Authority to Hold Interlocking Positions’’. Action: Proposed Data Collection. OMB Control Nos. 1902–0083. The applicant will not be penalized for failure to respond to this information collection unless the information collection displays a valid OMB control 13 44 14 5 E:\FR\FM\05APP1.SGM U.S.C. 3507(d). CFR 1320.11. 05APP1 17222 Federal Register / Vol. 70, No. 64 / Tuesday, April 5, 2005 / Proposed Rules number or the Commission has provided justification as to why the control number should not be displayed. Respondents: Businesses or other for profit. Necessity of the Information: The information collected under the requirements of FERC–520 is used by the Commission to implement the statutory provisions of Section 305(b) of the Federal Power Act and implemented by the Commission in the Code of Federal Regulations under 18 CFR part 45. Under part 45, each person that desires to hold an interlocking position(s) must submit an application to the Commission, or if qualified, comply with the requirements for automatic authorization. Section 305(b) of the FPA makes the holding of certain defined interlocking positions unlawful unless the Commission has authorized the interlocks to be held, and requires the applicant to show in a form or manner as prescribed by the Commission, that neither public nor private interests will be adversely affected by the holding of the position. The proposed rule will clarify (1) the time at which a person must apply for authorization to hold interlocking positions under section 305(b) of the Federal Power Act and part 45 of the Commission’s regulations, (2) clarify automatic authorizations for certain interlocking positions authorization is requested and (3) add a requirement that persons state the dates that they assumed the positions for which they seek automatic authorization under section 45.9. It is necessary to make these clarifications and require the additional information to ensure the Commission receives timely submissions and also to have sufficient information to make a determination as the appropriateness of the position. Internal Review: The Commission has reviewed these requirements pertaining to holding of interlocking positions and has determined the proposed revision is necessary because the Commission needs to have adequate information filed in a timely manner. These requirements conform to the Commission’s plan for efficient information collection, communication, and management within the electric industries. The Commission has assured itself, by means of internal review, that there is specific, objective support for the burden estimates associated with the information requirements. 15. Interested persons may obtain information on the information collection by contacting the following: Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC VerDate jul<14>2003 15:05 Apr 04, 2005 Jkt 205001 20426, Attention: Michael Miller, Office of the Executive Director, Phone: (202) 502–8415, fax: (202) 273–0873, e-mail: michael.miller@ferc.gov. 16. For submitting comments concerning the collection of information and the associated burden estimate, please send your comments to the contact listed above and to the Office of Management and Budget, Office of Information and Regulatory Affairs, Washington, DC 20503, Attention: Desk Officer for the Federal Energy Regulatory Commission, phone: (202) 395–4650, fax: (202) 395–7285. Environmental Analysis 17. The Commission is required to prepare an environmental assessment or an environmental impact statement for any action that may have a significant adverse effect on the human environment.15 The Commission has categorically excluded certain actions from this requirement as not having a significant effect on the human environment. Included in the exclusion are rules that are procedural, ministerial, or internal management programs or decisions,16 as well as actions under section 305(b) of the FPA.17 The rules proposed in this NOPR address the need to make a timely filing of an application for authorization to hold otherwise prohibited interlocking positions. Therefore, this NOPR falls within the categorical exemptions provided in the Commission’s regulations, and, as a result neither an environmental impact statement nor an environmental assessment is required. Regulatory Flexibility Act [Analysis or Certification] 18. The Regulatory Flexibility Act of 1980 (RFA) 18 generally requires a description and analysis of final rules that will have significant economic impact on a substantial number of small entities.19The Commission is not 15 Regulations Implementing National Environmental Policy Act, 52 FR 47897 (Order No. 486, 1987), FERC Stats. & Regulations Preambles 1986–1990 ¶ 30,783 (Dec. 10, 1987). 16 18 CFR 380.4(a)(1) (2004). 17 18 CFR 380.4(a)(16) (2004). 18 5 U.S.C. 601–12 (2000). 19 The RFA definition of ‘‘small entity’’ refers to the definition provided in the Small Business Act, which defines a ‘‘small business concern’’ as a business that is independently owned and operated and that is not dominant in its field of operation. 15 U.S.C. 632 (2000). The Small Business Size Standards component of the North American Industry Classification System defines a small electric utility as on that, including its affiliates, is primarily engaged in the generation, transmission, and/or distribution of electric energy for sale and whose total electric output for the preceding fiscal years did not exceed 4 million MWh. 13 CFR 121.201 (2004) (Section 22, Utilities, North American Industry Classification System, NAICS). PO 00000 Frm 00011 Fmt 4702 Sfmt 4702 required to make such analyses if a rule would not have such an effect. 19. The Commission does not believe that this proposed rule would have such an impact on small entities. Most persons affected by this proposed rule are officers or directors of companies that do not fall within the RFA’s definition of a small entity. Further, the proposed rule does not substantially change the current requirements and regulations that persons who are officers and directors must comply with. Therefore, the Commission certifies that this rule will not have a significant economic impact on a substantial number of small entities. Comment Procedures 20. The Commission invites comments on the matters and proposals in this notice, including any related matters or alternative proposals that commentors may wish to discuss. Comments are due June 6, 2005. Reply comments will be due 30 days thereafter. Comments must refer to Docket No. RM05–6–000, and must include the commentor’s name, the organization they represent, if applicable, and their address in their comments. Comments may be filed either in electronic or paper format. 21. Comments may be filed electronically via the eFiling link on the Commission’s Web site at https:// www.ferc.gov. The Commission accepts most standard word processing formats and commentors may attach additional files with supporting information in certain other file formats. Commentors filing electronically do not need to make a paper filing. Commentors that are not able to file comments electronically must send original and 14 copies of their comments to: Federal Energy Regulatory Commission, Office of the Secretary, 888 First Street NE., Washington, DC 20426. 22. All comments will be placed in the Commission’s public files and may be viewed, printed, or downloaded remotely as described in the Document Availability section below. Commentors on this proposal are not required to serve copies of their comments on other commentors. Document Availability 23. In addition to publishing the full text of this document in the Federal Register, the Commission provides all interested persons an opportunity to view and/or print the contents of this document via the Internet through FERC’s Home Page (https://www.ferc.gov) and in FERC’s Public Reference Room during normal business hours (8:30 a.m. to 5 p.m. eastern time) at 888 First E:\FR\FM\05APP1.SGM 05APP1 Federal Register / Vol. 70, No. 64 / Tuesday, April 5, 2005 / Proposed Rules Street, NE., Room 2A, Washington DC 20426. 24. From FERC’s Home Page on the Internet, this information is available in the Federal Energy Regulatory Records Information System (FERRIS). The full text of this document is available on FERRIS in PDF and Microsoft Word format for viewing, printing, and/or downloading. To access this document in FERRIS, type the docket number excluding the last three digits of this document in the docket number field. 25. User assistance is available for FERRIS and the FERC’s Web site during normal business hours from our Help line at (202) 502–8222 or the Public Reference Room at (202) 502–8371 Press 0, TTY (202) 502–8659. E-Mail the Public Reference Room at public.referenceroom@ferc.gov. List of Subjects in 18 CFR part 45 Electric utilities; Reporting and recordkeeping requirements. By direction of the Commission. Linda Mitry, Deputy Secretary. 3. In § 45.9, paragraph (b) is revised and paragraph (c)(5) is added to read as follows: § 45.9 Automatic authorization of certain interlocking positions. * * * * * (b) Conditions of authorization. As a condition of authorization, any person authorized to hold interlocking positions under this section must submit, prior to assuming the duties of the position, an informational report in accordance with paragraph (c) of this section, unless that person is already authorized to hold interlocking positions of the type governed by this section. Failure to timely file the informational report will constitute a failure to satisfy this condition, and will constitute automatic denial. (c) Informational report. * * * (5) The dates that the person assumed the duties and responsibilities of each position listed in paragraphs (c)(2) and (c)(3) of this section. [FR Doc. 05–6690 Filed 4–4–05; 8:45 am] BILLING CODE 6717–01–P In consideration of the foregoing, the Commission proposes to amend part 45, Chapter I, Title 18, Code of Federal Regulations, as follows: DEPARTMENT OF COMMERCE PART 45—APPLICATION FOR AUTHORITY TO HOLD INTERLOCKING POSITIONS 50 CFR Parts 223 and 224 1. The authority citation for part 45 is revised to read as follows: Authority: 16 U.S.C. 791a–825r, 2601– 2645; 31 U.S.C. 9701; 42 U.S.C. 7101–7352; 3 CFR 142. 2. Section 45.3 is revised to read as follows: § 45.3 Timing of filing application. The holding of positions within the purview of section 305(b) of the Act shall be unlawful unless the holding shall have been authorized by order of the Commission. Nothing in this part shall be construed as authorizing the holding of positions within the purview of section 305(b) of the Act prior to order of the Commission on application therefor. Applications must be filed and authorization must be granted prior to holding any interlocking positions within the purview of section 305(b) of the Act; late-filed applications will be denied. The term ‘‘holding’’, as used in this section, shall mean acting as, serving as, voting as, or otherwise performing or assuming the duties and responsibilities of officer or director within the purview of section 305(b) of the Act. VerDate jul<14>2003 15:05 Apr 04, 2005 Jkt 205001 National Oceanic and Atmospheric Administration [Docket No. 050310069–5069–01; I.D. 030205C] RIN 0648–XB30 Listing Endangered and Threatened Species and Designating Critical Habitat: Petition to List Puget Sound Steelhead as an Endangered or Threatened Species under the Endangered Species Act National Marine Fisheries Service (NMFS), National Oceanic and Atmospheric Administration (NOAA), Commerce. ACTION: Notice of finding; request for information; and initiation of status review. AGENCY: NMFS received a petition from Mr. Sam Wright on September 13, 2004, to list Puget Sound (Washington) steelhead (Oncorhynchus mykiss) as a threatened or endangered species under the Endangered Species Act (ESA). NMFS finds that the petition presents substantial scientific and commercial information indicating that the petitioned action may be warranted. Accordingly, NMFS is initiating a status review of the species. To ensure that the status review is complete and based SUMMARY: PO 00000 Frm 00012 Fmt 4702 Sfmt 4702 17223 upon the best available scientific and commercial information, NMFS is soliciting information regarding the viability of, and threats to, Puget Sound O. mykiss populations, efforts being made to protect the species, and the names of potential peer reviewers. DATES: Information and comments on the subject action must be received by June 6, 2005 ADDRESSES: You may submit comments and information by any of the following methods. Please identify submittals as pertaining to the ‘‘Puget Sound O. mykiss status review update.’’ • E-mail: PS.Omykiss.nwr@noaa.gov. Include ‘‘Puget Sound O. mykiss status review update’’ in the subject line of the message. • Federal e-rulemaking portal: https:// www.regulations.gov • Mail: Submit written comments and information to Chief, NMFS, Protected Resources Division, 1201 NE Lloyd Boulevard, Suite 1100, Portland, OR 97232. You may hand-deliver written comments to our office during normal business hours at the street address given above. • Hand Delivery/Courier: NMFS, Protected Resources 1201 NE Lloyd Boulevard, Suite 1100, Portland, OR 97232. • Fax: 503–230–5441 FOR FURTHER INFORMATION CONTACT: For further information regarding this action contact Garth Griffin, NMFS, Northwest Region, (503) 231–2005, or Marta Nammack, NMFS, Office of Protected Resources, (301) 713–1401. SUPPLEMENTARY INFORMATION: Background On September 13, 2004, NMFS received a petition from Mr. Sam Wright of Olympia, WA, to list Puget Sound steelhead as an endangered or threatened species under the ESA, and to designate critical habitat. Copies of the petition are available from NMFS by request, or on the Internet (See ADDRESSES section, above, and ‘‘References’’ section, below). ESA Statutory and Policy Provisions Section 4(b)(3) of the ESA contains provisions concerning petitions from interested persons requesting the Secretary of Commerce (Secretary) to list species under the ESA (16 U.S.C. 1533(b)(3)(A)). Section 4(b)(3)(A) requires that, to the maximum extent practicable, within 90 days after receiving such a petition, the Secretary make a finding whether the petition presents substantial scientific and commercial information indicating that the petitioned action may be warranted. E:\FR\FM\05APP1.SGM 05APP1

Agencies

[Federal Register Volume 70, Number 64 (Tuesday, April 5, 2005)]
[Proposed Rules]
[Pages 17219-17223]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-6690]


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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

18 CFR Part 45

[Docket No. RM05-6-000]


Commission Authorization To Hold Interlocking Directorates

March 25, 2005.
AGENCY: Federal Energy Regulatory Commission, Energy.

ACTION: Notice of proposed rulemaking.

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SUMMARY: The Federal Energy Regulatory Commission is proposing to amend 
its regulations to clarify the time frame within which individuals must 
file applications for authorization to hold interlocking positions, and 
the information provided in certain informational reports required for 
automatic authorization of certain interlocking positions.

DATES: Comments are due June 6, 2005.

ADDRESSES: Comments may be filed electronically via the eFiling link on 
the Commission's Web site at https://www.ferc.gov. Commentors unable to 
file comments electronically must send original and 14 copies of their 
comments to: Federal Energy Regulatory Commission, Office of the 
Secretary, 888 First Street NE., Washington, DC 20426. Refer to the 
Comment Procedures section of the preamble for additional information 
on how to file comments.

FOR FURTHER INFORMATION CONTACT:
James Akers (Technical Information), Office of Markets, Tariffs and 
Rates, Federal Energy Regulatory Commission, 888 First Street, NE., 
Washington, DC 20426, (202) 502-8101.
Melissa Mitchell (Legal Information), Office of the General Counsel, 
Federal Energy Regulatory Commission, 888 First Street, NE., 
Washington, DC 20426, (202) 502-6038.

SUPPLEMENTARY INFORMATION:
    1. Section 305(b) of the Federal Power Act (FPA) \1\ prohibits 
individuals from concurrently holding positions as officer or director 
of more than one public utility; or to hold the positions of officer or 
director of a public utility and of an entity authorized by law to 
underwrite or participate in the marketing of public utility 
securities; or to hold the positions of officer or director of a public 
utility and a company supplying electrical equipment to that particular 
public utility, unless the holding of

[[Page 17220]]

such positions has been authorized by the Commission upon a showing 
that neither public nor private interests will be adversely affected 
thereby.\2\
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    \1\ 16 U.S.C. 825d(b)(2000).
    \2\ Id.
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    2. The Commission implemented Congress' mandate in part 45 of the 
Commission's regulations.\3\ Section 45.3 of the regulations currently 
states that ``the holding of positions within the purview of [section 
305(b)] shall be unlawful unless the holding shall have been authorized 
by order of the Commission. Nothing in this part shall be construed as 
authorizing the holding of positions prior to the order of the 
Commission on application therefor. Applications shall be filed within 
30 days after election or appointment to any positions within the 
purview of section 305(b) of the Act.'' \4\
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    \3\ 18 CFR part 45 (2004).
    \4\ 18 CFR 45.3 (2004).
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    3. In this Notice of Proposed Rulemaking (NOPR), the Commission is 
proposing to clarify the time at which a person must apply for 
authorization to hold interlocking positions under section 305(b) of 
the FPA and part 45 of the Commission's regulations. Specifically, and 
as described more fully below, we propose to clarify in revised section 
45.3 that persons are prohibited from holding interlocking positions 
prior to receiving authorization from the Commission, and that 
``holding'' shall mean acting as, serving as, voting as, or otherwise 
performing or assuming the duties and responsibilities of the 
interlocking positions for which the authorization is requested. 
Similarly, we propose to clarify in revised section 45.9 when filings 
need to be made. Finally, we solicit comments on the continued waiver 
of the full requirements of part 45 for officers and directors of 
certain public utilities with market-based rate authority.

Background

    4. Section 305(b) of the FPA prohibits persons from concurrently 
holding positions as an officer or director of more than one public 
utility; or to hold the positions of officer or director of a public 
utility and of an entity authorized by law to underwrite or participate 
in the marketing of public utility securities; \5\ or to hold the 
positions of an officer or director of a public utility and of a 
company supplying electrical equipment to that particular public 
utility, unless the holding of such positions ``shall have been 
authorized by order of the Commission'' upon a finding that neither 
public nor private interests will be adversely affected thereby. The 
Commission's regulations, 18 CFR part 45 (2004), currently require that 
an application for approval be filed within 30 days of election or 
appointment to a qualifying position. If an application is filed after 
30 days, it is considered late. The Commission has stated in previous 
orders that it does not look favorably on late-filed applications for 
authorization to hold interlocking positions.\6\
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    \5\ However, section 305(b)(2) of the FPA, 16 U.S.C. 825d(b)(2) 
(2000), exempts from this prohibition certain interlocks between 
public utilities and securities underwriters and marketers.
    \6\ William T. Coleman, 21 FERC ] 61,242 at 61,535 n.3 (1982).
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    5. In examining Congress' intent in enacting section 305(b) of the 
FPA, the Commission has explained that ``among the evils sought to be 
eliminated by the enactment of section 305(b)'' was ``the lack of arm's 
length dealings between public utilities and organizations furnishing 
financial services or electrical equipment.'' \7\ In this regard, the 
legislative history indicates that with respect to section 305(b) of 
the FPA ``Congress exhibited a relentless interest in, bordering on an 
obsession with, the evils of concentration of economic power in the 
hands of a few individuals. It recognized that the conflicts of 
interest stemming from the presence of the same few persons on boards 
of companies with intersecting interests generated subtle and 
difficult-to-prove failures in the arm's length bargaining process.'' 
\8\
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    \7\ Paul H. Henson, 51 FERC ] 61,104 at 61,231 (1990), citing 
John Edward Aldred, 2 FPC 247,261 (1940).
    \8\ Hatch v. FERC, 654 f.2d 825, 831 (DC Cir. 1981) (Hatch), 
citing, e.g., 79 Cong. Rec. 10379 (1935) (remarks of Representative 
Lea), 79 Cong. Rec. 8524 (1935) (remarks of Sen. Norris), and 15 
U.S.C. 79a(b)(2)(2000); see also Paul H. Henson, 51 FERC ] 61,104 at 
61,230 n.5 (1990) (discussing this quotation).
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Applications for Authorization to Hold Interlocking Positions

    6. While the statute requires prior authorization to hold otherwise 
proscribed interlocking positions, the regulations allow for 
applications to be filed up to 30 days after the fact and also do not 
expressly address how applications filed more than 30 days late should 
be treated.
    7. Consistent with the statute's express direction as well as its 
underlying intent, the Commission proposes to clarify Sec.  45.3 to 
provide that an application must be filed, and authorization granted, 
before a person may hold otherwise proscribed interlocking positions, 
and that late-filed applications will be denied.

Automatic Authorization of Certain Interlocking Positions

    8. In addition to clarifying Sec.  45.3, the Commission also 
proposes to clarify Sec.  45.9, which governs automatic authorization 
for certain interlocking positions. Section 45.9 of the Commission's 
regulations provides that a person seeking to hold the positions of (1) 
an officer or director of a public utility and officer or director of 
another public utility (or utilities), where the same holding company 
owns, directly or indirectly, wholly or in part, the other public 
utility, (2) an officer or director of two public utilities, if one 
utility is owned, wholly or in part, by the other and (3) an officer or 
director of more than one public utility, if such person is already 
authorized under part 45 to hold different positions where the 
interlock involves affiliated public utilities, may apply for 
``automatic authorization'' to hold the interlocking positions.\9\ The 
regulations require that, as a condition of such authorization, persons 
seeking automatic authorization under Sec.  45.9 must file with the 
Commission an informational report containing the full name and 
business address of the person requesting authorization, the names of 
all public utilities that the person holds or seeks to hold positions 
with, the names of any other entity that the person serves as an 
officer or director of and a brief description of those positions, and 
an explanation of the corporate relationship between or among the 
public utilities involved. This informational report is required to be 
filed ``not later than 30 days after assuming the duties of the 
position.'' \10\ The Commission proposes to change the current 
regulation to require that informational reports for automatic 
authorization must be filed with the Commission prior to an officer or 
director assuming the duties of the requested interlocking position.
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    \9\ Automatic authorization is only for interlocking positions 
between two or more public utilities; it does not authorize a person 
to hold an interlocking position with, for example, an electrical 
equipment supplier. For those interlocking positions, an application 
under section 45.3 is required.
    \10\ 18 CFR 45.9(b) (2004)
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    9. The Commission proposes to address the issue of the timeliness 
of the informational filings for automatic authorization. Increasingly, 
the Commission is receiving informational reports under Sec.  45.9 that 
are filed after the 30-day deadline specified for submitting the 
informational reports. While the Commission believes that the current 
regulation regarding automatic authorization is clear with regard to

[[Page 17221]]

when a person must file an informational report, the Commission 
proposes to include an additional requirement in the informational 
report. Currently, the informational report outlined in Sec.  45.9(c) 
does not require persons to state when they assumed the positions for 
which they seek automatic authorization. Therefore, in order to assist 
the Commission in determining the timeliness of the informational 
report, the Commission proposes to add a requirement that persons state 
the dates that they assumed the positions for which they seek automatic 
authorization under Sec.  45.9; a person will not be entitled to 
automatic authorization if that person's informational report is 
untimely, as the person will not have satisfied the condition of timely 
submission of an informational report.

Waiver of Part 45 in Commission Orders Granting Market-Based Rate 
Authority

    10. The Commission provides certain persons with a waiver of the 
full requirements of part 45. An ``abbreviated'' filing requirement, 
with essentially ``automatic authorization'', has developed in 
Commission orders granting market-based rates for certain public 
utilities. While the Commission has explained that it cannot waive the 
statutory requirements regarding authorization of interlocking 
positions, the Commission did lessen the filing requirements and permit 
the filing of an ``abbreviated statement identifying any jurisdictional 
interlock.'' \11\ The authority to make these abbreviated filings is 
granted in orders that permit companies to charge market-based rates. 
Typical language in these market-based rates orders, regarding 
abbreviated filings, states:
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    \11\ E.g. Citizens Energy Corporation, 35 FERC ] 61,198 at 
61,455 (1986); Howell Gas Management Company, 40 FERC ] 61,336 at 
62,025 (1987); Torco Energy Marketing, Inc., 48 FERC ] 61,294 at 
61,948 (1989); National Electric Associates. Limited Partnership, 50 
FERC ] 61,378 at 62,157 (1990).

[U]ntil further order of this Commission, the full requirements of 
Part 45 of the Commission's regulations, except as noted below, are 
hereby waived with respect to any person now holding or who may hold 
an otherwise proscribed interlocking directorate involving the 
applicants. Any such person instead shall file a sworn application 
providing the following information:
    (a) Full name and business address; and
    (b) All jurisdictional interlocks, identifying the affected 
companies and the positions held by that person.\12\
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    \12\ CLECO Energy, LLC, 82 FERC ] 61,152 at 61,557 (1998).

    11. Since the abbreviated filings only require the identification 
of affected companies and positions held by the applicant, there is no 
description in the abbreviated filing of what business the affected 
company is engaged in. This lack of information makes it difficult for 
the Commission to determine the nature of the interlock and how, if at 
all, it might adversely affect public or private interests. In 
addition, this abbreviated filing is not required before the person 
begins holding the interlocking position. Since the provisions of 
section 305(b) of the FPA are intended to be prophylactic in nature and 
prevent any harm from a person holding otherwise prohibited 
interlocking positions, the lack of timely information from these 
abbreviated filings can make it very difficult to determine if the 
interlock might adversely affect public or private interests.
    12. Therefore, the Commission is examining the possibility of no 
longer granting a waiver of the full requirements of part 45 in its 
orders granting market-based rate authority. Rather, the Commission 
would require that for public utilities that receive authority to 
charge market-based rates, their officers and directors would still 
need to comply with the full requirements of part 45 and timely file 
any applications for Commission authorization to hold any interlocking 
positions that meet the requirements set forth in Sec.  305(b) of the 
FPA. The Commission seeks comments.
    13. It is important to note, however, that this proposal 
essentially to cease granting waivers of part 45 in orders granting 
market-based rate authority would not apply to those persons who may 
qualify for automatic authorization of their interlocking positions 
under Sec.  45.9 of the Commission's regulations. Automatic 
authorization would remain unchanged should we cease to grant waivers 
of the full requirements of part 45 in orders granting market-based 
rate authority.

Information Collection Statement

    14. The following collection of information contained in this 
proposed rule has been submitted to the Office of Management and Budget 
(OMB) for review under Sec.  3507(d) of the Paperwork Reduction Act of 
1995.\13\ OMB's regulations require OMB to approve certain information 
collection requirements imposed by agency rule.\14\
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    \13\ 44 U.S.C. 3507(d).
    \14\ 5 CFR 1320.11.
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    Comments are solicited on the need for this information, whether 
the information will have practical utility, the accuracy of the 
provided burden estimates, ways to enhance the quality, utility, and 
clarity of the information to be collected, and any suggested methods 
for minimizing respondent's burden, including the use of automated 
information techniques. The additional information the Commission 
proposes to require should have a minimal impact on the current 
reporting burden which is as follows:

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                                                 Number of        Number of        Hours per       Total annual
               Data collection                  respondents       responses         response          hours
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FERC-520....................................              28                1             51.8            1,450
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    Total Annual Hours for Collection (reporting + recordkeeping, if 
appropriate) = 1,450.
    Information Collection Costs: The Commission seeks comments on the 
costs to comply with these requirements. It has projected the average 
annualized cost of all respondents to be: 1,450 hours / 2,080 hours x 
$108,558 = $75,677. Cost per respondent is $2,703. The estimate of 
costs for respondents is based upon salaries for professional and 
clerical support, as well as direct and indirect costs. Direct costs 
include all costs directly attributable to providing this information, 
such as administrative costs and the cost of information technology. 
Indirect or overhead costs are costs incurred by an organization in 
support of its mission. These costs apply to activities which benefit 
the whole organization rather than any one particular function or 
activity.
    Title: FERC-520, ``Application for Authority to Hold Interlocking 
Positions''.
    Action: Proposed Data Collection.
    OMB Control Nos. 1902-0083.
    The applicant will not be penalized for failure to respond to this 
information collection unless the information collection displays a 
valid OMB control

[[Page 17222]]

number or the Commission has provided justification as to why the 
control number should not be displayed.
    Respondents: Businesses or other for profit.
    Necessity of the Information: The information collected under the 
requirements of FERC-520 is used by the Commission to implement the 
statutory provisions of Section 305(b) of the Federal Power Act and 
implemented by the Commission in the Code of Federal Regulations under 
18 CFR part 45. Under part 45, each person that desires to hold an 
interlocking position(s) must submit an application to the Commission, 
or if qualified, comply with the requirements for automatic 
authorization. Section 305(b) of the FPA makes the holding of certain 
defined interlocking positions unlawful unless the Commission has 
authorized the interlocks to be held, and requires the applicant to 
show in a form or manner as prescribed by the Commission, that neither 
public nor private interests will be adversely affected by the holding 
of the position. The proposed rule will clarify (1) the time at which a 
person must apply for authorization to hold interlocking positions 
under section 305(b) of the Federal Power Act and part 45 of the 
Commission's regulations, (2) clarify automatic authorizations for 
certain interlocking positions authorization is requested and (3) add a 
requirement that persons state the dates that they assumed the 
positions for which they seek automatic authorization under section 
45.9. It is necessary to make these clarifications and require the 
additional information to ensure the Commission receives timely 
submissions and also to have sufficient information to make a 
determination as the appropriateness of the position.
    Internal Review: The Commission has reviewed these requirements 
pertaining to holding of interlocking positions and has determined the 
proposed revision is necessary because the Commission needs to have 
adequate information filed in a timely manner. These requirements 
conform to the Commission's plan for efficient information collection, 
communication, and management within the electric industries. The 
Commission has assured itself, by means of internal review, that there 
is specific, objective support for the burden estimates associated with 
the information requirements.
    15. Interested persons may obtain information on the information 
collection by contacting the following: Federal Energy Regulatory 
Commission, 888 First Street, NE., Washington, DC 20426, Attention: 
Michael Miller, Office of the Executive Director, Phone: (202) 502-
8415, fax: (202) 273-0873, e-mail: michael.miller@ferc.gov.
    16. For submitting comments concerning the collection of 
information and the associated burden estimate, please send your 
comments to the contact listed above and to the Office of Management 
and Budget, Office of Information and Regulatory Affairs, Washington, 
DC 20503, Attention: Desk Officer for the Federal Energy Regulatory 
Commission, phone: (202) 395-4650, fax: (202) 395-7285.

Environmental Analysis

    17. The Commission is required to prepare an environmental 
assessment or an environmental impact statement for any action that may 
have a significant adverse effect on the human environment.\15\ The 
Commission has categorically excluded certain actions from this 
requirement as not having a significant effect on the human 
environment. Included in the exclusion are rules that are procedural, 
ministerial, or internal management programs or decisions,\16\ as well 
as actions under section 305(b) of the FPA.\17\ The rules proposed in 
this NOPR address the need to make a timely filing of an application 
for authorization to hold otherwise prohibited interlocking positions. 
Therefore, this NOPR falls within the categorical exemptions provided 
in the Commission's regulations, and, as a result neither an 
environmental impact statement nor an environmental assessment is 
required.
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    \15\ Regulations Implementing National Environmental Policy Act, 
52 FR 47897 (Order No. 486, 1987), FERC Stats. & Regulations 
Preambles 1986-1990 ] 30,783 (Dec. 10, 1987).
    \16\ 18 CFR 380.4(a)(1) (2004).
    \17\ 18 CFR 380.4(a)(16) (2004).
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Regulatory Flexibility Act [Analysis or Certification]

    18. The Regulatory Flexibility Act of 1980 (RFA) \18\ generally 
requires a description and analysis of final rules that will have 
significant economic impact on a substantial number of small 
entities.\19\The Commission is not required to make such analyses if a 
rule would not have such an effect.
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    \18\ 5 U.S.C. 601-12 (2000).
    \19\ The RFA definition of ``small entity'' refers to the 
definition provided in the Small Business Act, which defines a 
``small business concern'' as a business that is independently owned 
and operated and that is not dominant in its field of operation. 15 
U.S.C. 632 (2000). The Small Business Size Standards component of 
the North American Industry Classification System defines a small 
electric utility as on that, including its affiliates, is primarily 
engaged in the generation, transmission, and/or distribution of 
electric energy for sale and whose total electric output for the 
preceding fiscal years did not exceed 4 million MWh. 13 CFR 121.201 
(2004) (Section 22, Utilities, North American Industry 
Classification System, NAICS).
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    19. The Commission does not believe that this proposed rule would 
have such an impact on small entities. Most persons affected by this 
proposed rule are officers or directors of companies that do not fall 
within the RFA's definition of a small entity. Further, the proposed 
rule does not substantially change the current requirements and 
regulations that persons who are officers and directors must comply 
with. Therefore, the Commission certifies that this rule will not have 
a significant economic impact on a substantial number of small 
entities.

Comment Procedures

    20. The Commission invites comments on the matters and proposals in 
this notice, including any related matters or alternative proposals 
that commentors may wish to discuss. Comments are due June 6, 2005. 
Reply comments will be due 30 days thereafter. Comments must refer to 
Docket No. RM05-6-000, and must include the commentor's name, the 
organization they represent, if applicable, and their address in their 
comments. Comments may be filed either in electronic or paper format.
    21. Comments may be filed electronically via the eFiling link on 
the Commission's Web site at https://www.ferc.gov. The Commission 
accepts most standard word processing formats and commentors may attach 
additional files with supporting information in certain other file 
formats. Commentors filing electronically do not need to make a paper 
filing. Commentors that are not able to file comments electronically 
must send original and 14 copies of their comments to: Federal Energy 
Regulatory Commission, Office of the Secretary, 888 First Street NE., 
Washington, DC 20426.
    22. All comments will be placed in the Commission's public files 
and may be viewed, printed, or downloaded remotely as described in the 
Document Availability section below. Commentors on this proposal are 
not required to serve copies of their comments on other commentors.

Document Availability

    23. In addition to publishing the full text of this document in the 
Federal Register, the Commission provides all interested persons an 
opportunity to view and/or print the contents of this document via the 
Internet through FERC's Home Page (https://www.ferc.gov) and in FERC's 
Public Reference Room during normal business hours (8:30 a.m. to 5 p.m. 
eastern time) at 888 First

[[Page 17223]]

Street, NE., Room 2A, Washington DC 20426.
    24. From FERC's Home Page on the Internet, this information is 
available in the Federal Energy Regulatory Records Information System 
(FERRIS). The full text of this document is available on FERRIS in PDF 
and Microsoft Word format for viewing, printing, and/or downloading. To 
access this document in FERRIS, type the docket number excluding the 
last three digits of this document in the docket number field.
    25. User assistance is available for FERRIS and the FERC's Web site 
during normal business hours from our Help line at (202) 502-8222 or 
the Public Reference Room at (202) 502-8371 Press 0, TTY (202) 502-
8659. E-Mail the Public Reference Room at 
public.referenceroom@ferc.gov.

List of Subjects in 18 CFR part 45

    Electric utilities; Reporting and recordkeeping requirements.

    By direction of the Commission.
Linda Mitry,
Deputy Secretary.
    In consideration of the foregoing, the Commission proposes to amend 
part 45, Chapter I, Title 18, Code of Federal Regulations, as follows:

PART 45--APPLICATION FOR AUTHORITY TO HOLD INTERLOCKING POSITIONS

    1. The authority citation for part 45 is revised to read as 
follows:

    Authority: 16 U.S.C. 791a-825r, 2601-2645; 31 U.S.C. 9701; 42 
U.S.C. 7101-7352; 3 CFR 142.

    2. Section 45.3 is revised to read as follows:


Sec.  45.3  Timing of filing application.

    The holding of positions within the purview of section 305(b) of 
the Act shall be unlawful unless the holding shall have been authorized 
by order of the Commission. Nothing in this part shall be construed as 
authorizing the holding of positions within the purview of section 
305(b) of the Act prior to order of the Commission on application 
therefor. Applications must be filed and authorization must be granted 
prior to holding any interlocking positions within the purview of 
section 305(b) of the Act; late-filed applications will be denied. The 
term ``holding'', as used in this section, shall mean acting as, 
serving as, voting as, or otherwise performing or assuming the duties 
and responsibilities of officer or director within the purview of 
section 305(b) of the Act.
    3. In Sec.  45.9, paragraph (b) is revised and paragraph (c)(5) is 
added to read as follows:


Sec.  45.9  Automatic authorization of certain interlocking positions.

* * * * *
    (b) Conditions of authorization. As a condition of authorization, 
any person authorized to hold interlocking positions under this section 
must submit, prior to assuming the duties of the position, an 
informational report in accordance with paragraph (c) of this section, 
unless that person is already authorized to hold interlocking positions 
of the type governed by this section. Failure to timely file the 
informational report will constitute a failure to satisfy this 
condition, and will constitute automatic denial.
    (c) Informational report. * * *
    (5) The dates that the person assumed the duties and 
responsibilities of each position listed in paragraphs (c)(2) and 
(c)(3) of this section.

[FR Doc. 05-6690 Filed 4-4-05; 8:45 am]
BILLING CODE 6717-01-P

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