Sunshine Act Meeting, 9182-9183 [06-1665]

Download as PDF 9182 Federal Register / Vol. 71, No. 35 / Wednesday, February 22, 2006 / Notices 3. Does the proposed change involve a significant reduction in a margin of safety? Response: No. The proposed changes relocate the specific ASTM standard references from the Administrative Controls Section of TS to a licensee-controlled document. Instituting the proposed changes will continue to ensure the use of applicable ASTM standards to evaluate the quality of both new and stored fuel oil designated for use in the emergency DGs. Changes to the licensee-controlled document are performed in accordance with the provisions of 10 CFR 50.59. This approach provides an effective level of regulatory control and ensures that diesel fuel oil testing is conducted such that there is no significant reduction in a margin of safety. The ‘‘clear and bright’’ test used to establish the acceptability of new fuel oil for use prior to addition to storage tanks has been expanded to allow a water and sediment content test to be performed to establish the acceptability of new fuel oil. The margin of safety provided by the DGs is unaffected by the proposed changes since there continue to be TS requirements to ensure fuel oil is of the appropriate quality for emergency DG use. The proposed changes provide the flexibility needed to improve fuel oil sampling and analysis methodologies while maintaining sufficient controls to preserve the current margins of safety. Based upon the reasoning presented above, the NRC staff proposes to determine that the amendment request involves no significant hazards consideration. Dated at Rockville, Maryland, this 10th day of February 2006. For the Nuclear Regulatory Commission. William D. Reckley, Senior Project Manager, Special Projects Branch, Division of Policy and Rulemaking, Office of Nuclear Reactor Regulation. [FR Doc. 06–1621 Filed 2–21–06; 8:45 am] BILLING CODE 7590–01–P cprice-sewell on PROD1PC66 with NOTICES SECURITIES AND EXCHANGE COMMISSION Issuer Delisting; Notice of Application of Arch Coal, Inc. To Withdraw Its 5% Perpetual Cumulative Convertible Preferred Stock (liquidation preference $50 Per Share), From Listing and Registration on the New York Stock Exchange, Inc. File No. 1–13105 1 15 February 14, 2006. On February 6, 2006, Arch Coal, Inc., a Delaware corporation (‘‘Issuer’’), filed VerDate Aug<31>2005 14:35 Feb 21, 2006 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 5% perpetual cumulative convertible preferred stock (liquidation preference $50 per share) (‘‘Security’’), from listing and registration on the New York Stock Exchange, Inc. (‘‘NYSE’’). On January 6, 2006, the Board of Directors (‘‘Board’’) of the Issuer approved resolutions to withdraw the Security from listing and registration on NYSE. The Issuer previously commenced a conversion offer (‘‘Offer’’) to pay a premium to holders of any and all of the Security who elected to convert to shares of the Issuer’s common stock, par value $.01 per share, subject to the terms of the Offer. On December 31, 2005, the Issuer accepted for conversion all shares of the Security validly tendered and not withdrawn as of the expiration date of the Offer. Upon expiration of the Offer, 150,508 shares of the Security remained outstanding. Based on information provided to the Issuer from its transfer agent, the Securities that remain outstanding are held by approximately 35 holders. The Board decided that it was in the best interest of the Issuer and its stockholders to delist and deregister the Security on NYSE due to the limited market for the Security. The Issuer stated that it has complied with the requirements of NYSE’s rules governing an issuer’s voluntary withdrawal of a security from listing and registration by complying with all applicable rules 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,3 and shall not affect its obligation to be registered under Section 12(g) of the Act.4 Any interested person may, on or before March 13, 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 Jkt 208001 U.S.C. 78l(d). CFR 240.12d2–2(d). 3 15 U.S.C. 78l(b). 4 15 U.S.C. 78l(g). 2 17 PO 00000 Frm 00102 Fmt 4703 submitted by either of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/delist.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include the File Number 1–13105 or; Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number 1–13105. 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 (http://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.5 Nancy M. Morris, Secretary. [FR Doc. E6–2435 Filed 2–21–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold the following meeting during the week of February 20, 2006: A Closed Meeting will be held on Thursday, February 23, 2006 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries 5 17 Sfmt 4703 E:\FR\FM\22FEN1.SGM CFR 200.30–3(a)(1). 22FEN1 Federal Register / Vol. 71, No. 35 / Wednesday, February 22, 2006 / Notices will attend the Closed Meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B), and (10) and 17 CFR 200.402(a)(3), (5), (7), 9(ii) and (10) permit consideration of the scheduled matters at the Closed Meeting. Commissioner Campos, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matter of the Closed Meeting scheduled for Thursday, February 23, 2006 will be: Formal orders of investigations; Institution and settlement of injunctive actions; and Institution and settlement of administrative proceedings of an enforcement nature. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: February 16, 2006. J. Lynn Taylor, Assistant Secretary. [FR Doc. 06–1665 Filed 2–17–06; 11:18 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53286; File No. SR–CBOE– 2006–16] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Order Granting Accelerated Approval to a Proposed Rule Change To Amend CBOE Rule 8.7 To Implement CBOE’s 1-Up Program on a Permanent Basis cprice-sewell on PROD1PC66 with NOTICES February 14, 2006. Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b-4 thereunder,2 notice is hereby given that on February 8, 2006, the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Aug<31>2005 14:35 Feb 21, 2006 Jkt 208001 below, which Items have been prepared by the CBOE. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons and to approve the proposal on an accelerated basis. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The CBOE proposes to amend CBOE Rule 8.7 to make its 1-up Pilot Program permanent. The text of the proposed rule change is available on the CBOE’s Web site (http://www.cboe.com), at the CBOE’s Office of the Secretary, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item III below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of the proposed rule change is to amend CBOE Rule 8.7 to request permanent approval of the CBOE’s pilot program that allows Market-Makers to submit an undecremented electronic quotation of a size as low as one contract (‘‘1-up’’) when the underlying primary market for the option disseminates a 1-up market, i.e., a market that reflects a quotation for 100 shares of the underlying security (the ‘‘Program’’). The ability to quote 1up is expressly conditioned on the process being automated; in other words, a Market-Maker may not manually adjust his quotes to reflect a 1-up size quote.3 On August 17, 2004, the Commission approved the Program on a one-year pilot basis.4 Subsequently, on August 15, 2005, the Program was extended for an additional six months, until February 3 See CBOE Rule 8.7. 4 See Securities Exchange Act Release No. 50205 (August 17, 2004), 69 FR 51869 (August 23, 2004) (approving the pilot program as set forth in SR– CBOE–2003–39). PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 9183 17, 2006, to allow the CBOE time to further consider whether the Program is a useful tool for Market-Makers to manage their risks when the underlying primary market quotes 1-up.5 The CBOE believes that the Program has been effective in serving the original purpose of the rule filing, which was to address the fact that Market-Makers may be subject to heightened and possibly inappropriate levels of risk due to their obligation to maintain electronic twosided quotes for at least 10-contracts, whereas there is no restriction on the stock specialist’s ability to disseminate a 1-up market. Additionally, when the underlying market disseminates a 1-up quote, it substantially restricts the amount of liquidity available in that security to 100 shares on that particular side of the market, which limits a Market-Maker’s ability to hedge his/her positions and increases his/her financial exposure. Accordingly, the CBOE requests that the Program be approved on a permanent basis. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Act and the rules and regulations thereunder applicable to a national securities exchange and, in particular, the requirements of section 6(b) of the Act.6 Specifically, the Exchange believes the proposed rule change is consistent with the section 6(b)(5) Act 7 requirements that the rules of an exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest. B. Self-Regulatory Organization’s Statement on Burden on Competition The CBOE does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. III. Solicitation of Comments Interested persons are invited to submit written data, views, and 5 See Securities Exchange Act Release No. 52256 (August 15, 2005), 70 FR 48787 (August 19, 2005) (approving and extending the pilot program as set forth in SR–CBOE–2005–56). 6 15 U.S.C. 78(b). 7 15 U.S.C. 78f(b)(5). E:\FR\FM\22FEN1.SGM 22FEN1

Agencies

[Federal Register Volume 71, Number 35 (Wednesday, February 22, 2006)]
[Notices]
[Pages 9182-9183]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-1665]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold the following meeting during the week 
of February 20, 2006:
    A Closed Meeting will be held on Thursday, February 23, 2006 at 2 
p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries

[[Page 9183]]

will attend the Closed Meeting. Certain staff members who have an 
interest in the matters may also be present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B), and (10) and 17 CFR 
200.402(a)(3), (5), (7), 9(ii) and (10) permit consideration of the 
scheduled matters at the Closed Meeting.
    Commissioner Campos, as duty officer, voted to consider the items 
listed for the closed meeting in closed session.
    The subject matter of the Closed Meeting scheduled for Thursday, 
February 23, 2006 will be:
    Formal orders of investigations;
    Institution and settlement of injunctive actions; and
    Institution and settlement of administrative proceedings of an 
enforcement nature.
    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact:
    The Office of the Secretary at (202) 551-5400.

    Dated: February 16, 2006.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 06-1665 Filed 2-17-06; 11:18 am]
BILLING CODE 8010-01-P