Issuer Delisting; Notice of Application of CITGO Petroleum Corporation To Withdraw its 77/8, 4385 [E6-971]
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Federal Register / Vol. 71, No. 17 / Thursday, January 26, 2006 / Notices
rwilkins on PROD1PC63 with NOTICES
(Commission) is soliciting comments on
the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
• Rule 15c2–7 Identification of
Quotations.
Rule 15c2–7 enumerates the
requirements with which all brokers
and dealers must comply when
submitting a quotation for a security
(other than a municipal security) to an
inter-dealer quotation system.
It is estimated that there are 8,500
brokers and dealers. Industry personnel
estimate that approximately 900 notices
are filed pursuant to Rule 15c2–7
annually. Based on industry estimates
that respondents complying with Rule
15c2–7 spend 30 seconds to add notice
of an arrangement and 1 minute to
delete notice of an arrangement, the staff
estimates that, on an annual basis,
respondents spend a total of 11.25 hours
to comply with Rule 15c2–7, based
upon past submissions. The average cost
per hour is approximately $35.
Therefore, the total cost of compliance
for brokers and dealers is approximately
$393.75.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be collected; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
Please direct your written comments
to R. Corey Booth, Director/Chief
Information Officer, Office of
Information Technology, Securities and
Exchange Commission, 100 F Street,
NE., Washington, DC 20549.
Dated: January 18, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6–970 Filed 1–25–06; 8:45 am]
16:10 Jan 25, 2006
Issuer Delisting; Notice of Application
of CITGO Petroleum Corporation To
Withdraw its 77⁄8% Senior Notes (Due
May 15, 2006), From Listing and
Registration on the New York Stock
Exchange, Inc. File No. 1–14380
January 20, 2006.
On January 12, 2006, CITGO
Petroleum Corporation, a Delaware
corporation (‘‘Issuer’’), filed an
application with the Securities and
Exchange Commission (‘‘Commission’’),
pursuant to section 12(d) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 12d2–2(d)
thereunder,2 to withdraw its 77⁄8%
senior notes (due May 15, 2006)
(‘‘Security’’), from listing and
registration on the New York Stock
Exchange, Inc. (‘‘NYSE’’).
On August 30, 2004, the Board of
Directors (‘‘Board’’) of the Issuer
adopted resolutions to withdraw the
Security from listing and registration on
NYSE. The Issuer stated that the Board
determined that it is in the best interest
of the Issuer and the holders of the
Security to delist the Security from
NYSE and to withdraw from registration
under section 12(b) of the Act.3 The
Issuer stated the reasons that factored
into the Board’s decision to withdraw
the Security from listing on NYSE
included a determination that the
benefits of continued listing were
outweighed by the administrative
burdens, particularly since the adoption
of the Sarbanes-Oxley Act of 2002 has
resulted in more stringent corporate
governance rules and increased costs of
compliance. The Issuer also stated that
in November 2005, the Issuer completed
a tender offer for the Security pursuant
to Board approval. As a result of such
tender offer, only approximately
$14,300,000 of the original $200,000,000
face amount of the Security remains
outstanding.
The Issuer stated in its application
that it has complied with the NYSE’s
rules governing an issuer’s voluntary
withdrawal of a security from listing
and registration by complying with all
applicable laws in the State of Delaware,
in which the Issuer is incorporated, and
by providing NYSE with the required
documents governing the removal of
securities from listing and registration
on NYSE.
The Issuer’s application relates solely
to the withdrawal of the Security from
Jkt 205001
U.S.C. 78l(d).
CFR 240.12d2–2(d).
3 15 U.S.C. 78l(b).
listing on NYSE and from registration
under section 12(b) of the Act,4 and
shall not affect its obligation to be
registered under section 12(g) of the
Act.5
Any interested person may, on or
before February 10, 2006, comment on
the facts bearing upon whether the
application has been made in
accordance with the rules of NYSE, and
what terms, if any, should be imposed
by the Commission for the protection of
investors. All comment letters may be
submitted by either of the following
methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/delist.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include the
File Number 1–14380 or;
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–9303.
All submissions should refer to File
Number 1–14380. This file number
should be included on the subject line
if e-mail is used. To help us process and
review your comments more efficiently,
please use only one method. The
Commission will post all comments on
the Commission’s Internet Web site
(https://www.sec.gov/rules/delist.shtml).
Comments are also available for public
inspection and copying in the
Commission’s Public Reference Room.
All comments received will be posted
without change; we do not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly.
The Commission, based on the
information submitted to it, will issue
an order granting the application after
the date mentioned above, unless the
Commission determines to order a
hearing on the matter.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.6
Nancy M. Morris,
Secretary.
[FR Doc. E6–971 Filed 1–25–06; 8:45 am]
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BILLING CODE 8010–01–P
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SECURITIES AND EXCHANGE
COMMISSION
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U.S.C. 78l(b).
U.S.C. 78l(g).
6 17 CFR 200.30–3(a)(1).
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4385
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]]>Agencies
[Federal Register Volume 71, Number 17 (Thursday, January 26, 2006)]
[Notices]
[Page 4385]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-971]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application of CITGO Petroleum
Corporation To Withdraw its 7\7/8\% Senior Notes (Due May 15, 2006),
From Listing and Registration on the New York Stock Exchange, Inc. File
No. 1-14380
January 20, 2006.
On January 12, 2006, CITGO Petroleum Corporation, a Delaware
corporation (``Issuer''), filed an application with the Securities and
Exchange Commission (``Commission''), pursuant to section 12(d) of the
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 12d2-2(d)
thereunder,\2\ to withdraw its 7\7/8\% senior notes (due May 15, 2006)
(``Security''), from listing and registration on the New York Stock
Exchange, Inc. (``NYSE'').
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78l(d).
\2\ 17 CFR 240.12d2-2(d).
---------------------------------------------------------------------------
On August 30, 2004, the Board of Directors (``Board'') of the
Issuer adopted resolutions to withdraw the Security from listing and
registration on NYSE. The Issuer stated that the Board determined that
it is in the best interest of the Issuer and the holders of the
Security to delist the Security from NYSE and to withdraw from
registration under section 12(b) of the Act.\3\ The Issuer stated the
reasons that factored into the Board's decision to withdraw the
Security from listing on NYSE included a determination that the
benefits of continued listing were outweighed by the administrative
burdens, particularly since the adoption of the Sarbanes-Oxley Act of
2002 has resulted in more stringent corporate governance rules and
increased costs of compliance. The Issuer also stated that in November
2005, the Issuer completed a tender offer for the Security pursuant to
Board approval. As a result of such tender offer, only approximately
$14,300,000 of the original $200,000,000 face amount of the Security
remains outstanding.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78l(b).
---------------------------------------------------------------------------
The Issuer stated in its application that it has complied with the
NYSE's rules governing an issuer's voluntary withdrawal of a security
from listing and registration by complying with all applicable laws in
the State of Delaware, in which the Issuer is incorporated, and by
providing NYSE with the required documents governing the removal of
securities from listing and registration on NYSE.
The Issuer's application relates solely to the withdrawal of the
Security from listing on NYSE and from registration under section 12(b)
of the Act,\4\ and shall not affect its obligation to be registered
under section 12(g) of the Act.\5\
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78l(b).
\5\ 15 U.S.C. 78l(g).
---------------------------------------------------------------------------
Any interested person may, on or before February 10, 2006, comment
on the facts bearing upon whether the application has been made in
accordance with the rules of NYSE, and what terms, if any, should be
imposed by the Commission for the protection of investors. All comment
letters may be submitted by either of the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/delist.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
the File Number 1-14380 or;
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-9303.
All submissions should refer to File Number 1-14380. This file
number should be included on the subject line if e-mail is used. To
help us process and review your comments more efficiently, please use
only one method. The Commission will post all comments on the
Commission's Internet Web site (https://www.sec.gov/rules/delist.shtml).
Comments are also available for public inspection and copying in the
Commission's Public Reference Room. All comments received will be
posted without change; we do not edit personal identifying information
from submissions. You should submit only information that you wish to
make available publicly.
The Commission, based on the information submitted to it, will
issue an order granting the application after the date mentioned above,
unless the Commission determines to order a hearing on the matter.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(1).
---------------------------------------------------------------------------
Nancy M. Morris,
Secretary.
[FR Doc. E6-971 Filed 1-25-06; 8:45 am]
BILLING CODE 8010-01-P
