Application of Section 338 to Insurance Companies; Correction, 26826 [06-4272]
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Federal Register / Vol. 71, No. 89 / Tuesday, May 9, 2006 / Rules and Regulations
within the next 80 hours TIS, but not to
exceed the existing cyclic life limit.
(iii) For disks that have accumulated fewer
than the compliance threshold on April 13,
1995, before accumulating more than the
calculated prorated hourly life limit.
(iv) Thereafter, remove disks at or before
accumulating the prorated hourly life limit,
but not to exceed the existing cyclic life
limit.
Alternative Methods of Compliance
(k) The Manager, Los Angeles Aircraft
Certification Office, has the authority to
approve alternative methods of compliance
for this AD if requested using the procedures
found in 14 CFR 39.19.
Special Flight Permits
incorporation by reference of this service
bulletin in accordance with 5 U.S.C. 552(a)
and 1 CFR part 51. Contact Rolls-Royce plc,
P.O. Box 31, Derby, DE248BJ; UK, telephone:
011–44–1332–242424; fax: 011–44–1332–
249936, for a copy of this service
information. You can review copies at the
FAA, New England Region, Office of the
Regional Counsel, 12 New England Executive
Park, Burlington, MA; or at the National
Archives and Records Administration
(NARA). For information on the availability
of this material at NARA, call 202–741–6030,
or go to: https://www.archives.gov/federalregister/cfr/ibr-locations.html.
(l) Under 14 CFR part 39.23, we are
limiting the special flight permits for this AD
by allowing a onetime special flight if the
disc life limit has been reached.
Related Information
(m) Honeywell SB No. ALF/LF A72–1085,
Revision 1, dated January 16, 2005, pertains
to the subject of this AD.
Material Incorporated by Reference
(n) You must use the service bulletins
listed in Table 3 of this AD to perform the
inspections required by this AD. The Director
of the Federal Register approved the
TABLE 3.—INCORPORATION BY REFERENCE
Service bulletin (SB) No.
Pages
Textron Lycoming SB No. ALF 502 72–0002 .....................................................................
Total Pages: 27
Revision
Date
Issued in Burlington, Massachusetts, on
April 26, 2006.
Francis A. Favara,
Manager, Engine and Propeller Directorate,
Aircraft Certification Service.
[FR Doc. 06–4193 Filed 5–8–06; 8:45 am]
insurance trade or business subject to
section 1060, and to the acquisition of
insurance contracts through assumption
reinsurance.
This correction is effective April
10, 2006.
DATES:
BILLING CODE 4910–13–P
FOR FURTHER INFORMATION CONTACT:
Mark Weiss, (202) 622–7790 (not a tollfree number).
DEPARTMENT OF THE TREASURY
SUPPLEMENTARY INFORMATION:
Internal Revenue Service
The final and temporary regulations
(TD 9257) that are the subjects of this
correction are under sections 197, 338,
381, and 1060 of the Internal Revenue
Code.
[TD 9257]
RIN 1545–AY49
Application of Section 338 to
Insurance Companies; Correction
Need for Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendment.
mstockstill on PROD1PC68 with RULES
AGENCY:
As published, TD 9257 contains an
error that may prove to be misleading
and is in need of clarification.
SUMMARY: This document corrects final
and temporary regulations (TD 9257)
that were published in the Federal
Register on Monday, April 10, 2006 (71
FR 17990) applying to a deemed sale or
acquisition of an insurance company’s
assets pursuant to an election under
section 338 of the Internal Revenue
Code, to a sale or acquisition of an
List of Subjects in 26 CFR Part 1
VerDate Aug<31>2005
15:32 May 08, 2006
Jkt 208001
Income taxes, Reporting and
recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendment:
I
PO 00000
Frm 00010
December 23, 1992.
3
4–7
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9–10
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December 21, 1989.
December 23, 1992.
September 25, 1992.
December 23, 1992.
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December 23, 1992.
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January 16, 2005.
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November 7, 2003.
January 16, 2005.
November 7, 2003.
January 16, 2003.
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read, in part, as
follows:
I
Authority: 26 U.S.C. 7805 * * *
I Par. 2. Section 1.338.11T is corrected
by revising paragraph (d)(3)(ii)(2) to
read as follows:
§ 1.338–11T Effect of section 338 election
on insurance company targets (temporary).
Background
26 CFR Part 1
22
2
3
4
5–30
Honeywell SB No. ALF502 72–0004 ..................................................................................
Total Pages: 30
1–2
Fmt 4700
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*
*
*
*
*
(d) * * *
(3) * * *
(ii) * * *
(2) B equals old target’s undiscounted
unpaid losses (determined under
section 846(b)(1) as of the close of the
acquisition date;
*
*
*
*
*
Guy R. Traynor,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel, (Procedure and Administration).
[FR Doc. 06–4272 Filed 5–8–06; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\09MYR1.SGM
09MYR1
]]>Agencies
[Federal Register Volume 71, Number 89 (Tuesday, May 9, 2006)]
[Rules and Regulations]
[Page 26826]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-4272]
=======================================================================
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9257]
RIN 1545-AY49
Application of Section 338 to Insurance Companies; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: This document corrects final and temporary regulations (TD
9257) that were published in the Federal Register on Monday, April 10,
2006 (71 FR 17990) applying to a deemed sale or acquisition of an
insurance company's assets pursuant to an election under section 338 of
the Internal Revenue Code, to a sale or acquisition of an insurance
trade or business subject to section 1060, and to the acquisition of
insurance contracts through assumption reinsurance.
DATES: This correction is effective April 10, 2006.
FOR FURTHER INFORMATION CONTACT: Mark Weiss, (202) 622-7790 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final and temporary regulations (TD 9257) that are the subjects
of this correction are under sections 197, 338, 381, and 1060 of the
Internal Revenue Code.
Need for Correction
As published, TD 9257 contains an error that may prove to be
misleading and is in need of clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
0
Accordingly, 26 CFR part 1 is corrected by making the following
correcting amendment:
PART 1--INCOME TAXES
0
Paragraph 1. The authority citation for part 1 continues to read, in
part, as follows:
Authority: 26 U.S.C. 7805 * * *
0
Par. 2. Section 1.338.11T is corrected by revising paragraph
(d)(3)(ii)(2) to read as follows:
Sec. 1.338-11T Effect of section 338 election on insurance company
targets (temporary).
* * * * *
(d) * * *
(3) * * *
(ii) * * *
(2) B equals old target's undiscounted unpaid losses (determined
under section 846(b)(1) as of the close of the acquisition date;
* * * * *
Guy R. Traynor,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 06-4272 Filed 5-8-06; 8:45 am]
BILLING CODE 4830-01-P
