Advisory Committee on Reactor Safeguards; Meeting of the Subcommittee on Reliability and Probabilistic Risk Assessment; Notice of Meeting, 53139 [E6-14864]

Download as PDF Federal Register / Vol. 71, No. 174 / Friday, September 8, 2006 / Notices Dated: August 31, 2006. Michael R. Snodderly, Branch Chief, ACRS/ACNW. [FR Doc. E6–14864 Filed 9–7–06; 8:45 am] BILLING CODE 7590–01–P BILLING CODE 7590–01–P NUCLEAR REGULATORY COMMISSION SECURITIES AND EXCHANGE COMMISSION Advisory Committee on Reactor Safeguards; Meeting of the Subcommittee on Reliability and Probabilistic Risk Assessment; Notice of Meeting sroberts on PROD1PC70 with NOTICES Dated: September 1, 2006. Annette L. Vietti-Cook, Secretary of the Commission. [FR Doc. E6–14873 Filed 9–7–06; 8:45 am] Submission for OMB Review; Comment Request The ACRS Subcommittee on Reliability and Probabilistic Risk Assessment will hold a meeting on September 21, 2006, Room T–2B1, 11545 Rockville Pike, Rockville, Maryland. The entire meeting will be open to public attendance. The agenda for the subject meeting shall be as follows: Thursday, September 21, 2006, 8:30 a.m. until 5 p.m. The purpose of the meeting is to discuss draft final NUREG–1824 (EPRI 1011999), ‘‘Verification and Validation of Selected Fire Models for Nuclear Power Plant Applications.’’ The Subcommittee will hear presentations by and hold discussions with representatives of the NRC staff, Electric Power Research Institute (EPRI), and other interested persons regarding this matter. The Subcommittee will also be briefed by representatives of the NRC staff on draft NUREG–1852, ‘‘Demonstrating the Feasibility and Reliability of Operator Manual Actions in Response to Fire.’’ The Subcommittee will gather information, analyze relevant issues and facts, and formulate proposed positions and actions, as appropriate, for deliberation by the full Committee. Members of the public desiring to provide oral statements and/or written comments should notify the Designated Federal Official, Dr. Hossein P. Nourbakhsh (telephone 301/415–5622), five days prior to the meeting, if possible, so that appropriate arrangements can be made. Electronic recordings will be permitted. Further information regarding this meeting can be obtained by contacting the Designated Federal Official between 7:30 a.m. and 4:15 p.m. (ET). Persons planning to attend this meeting are urged to contact the above named individual at least two working days prior to the meeting to be advised of any potential changes to the agenda. VerDate Aug<31>2005 19:38 Sep 07, 2006 Jkt 208001 Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 12d1–1; SEC File No. 270– 526; OMB Control No. 3235–0584. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (the ‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information discussed below. Under current law, an investment company (‘‘fund’’) is limited in the amount of securities the fund (‘‘acquiring fund’’) can acquire from another fund (‘‘acquired fund’’). In general under the Investment Company Act of 1940 (15 U.S.C. 80a) (the ‘‘Investment Company Act’’ or ‘‘Act’’), a registered fund (and companies it controls) cannot: (i) Acquire more than three percent of another fund’s securities; (ii) invest more than five percent of its own assets in another fund; or (iii) invest more than ten percent of its own assets in other funds in the aggregate.1 In addition, a registered open-end fund, its principal underwriter, and any registered broker or dealer cannot sell that fund’s shares to another fund if, as a result: (i) The acquiring fund (and any companies it controls) owns more than three percent of the acquired fund’s stock; or (ii) all acquiring funds (and companies they control) in the aggregate own more than ten percent of the acquired fund’s stock.2 Rule 12d1–1 (17 CFR 270.12d1– 1) under the Act provides an exemption from these limitations for ‘‘cash sweep’’ arrangements, in which a fund invests all or a portion of its available cash in a money market fund rather than directly in short-term instruments. An acquiring fund relying on the exemption 1 See 15 U.S.C. 80a–12(d)(1)(A). If an acquiring fund is not registered, these limitations apply only with respect to the acquiring fund’s acquisition of registered funds. 2 See 15 U.S.C. 80a–12(d)(1)(B). PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 53139 may not pay a sales load, distribution fee, or service fee on acquired fund shares, or if it does, the acquiring fund’s investment adviser must waive a sufficient amount of its advisory fee to offset the cost of the loads or distribution fees.3 The acquired fund may be a fund in the same fund complex or in a different fund complex. In addition to providing an exemption from section 12(d)(1) of the Act, the rule provides exemptions from section 17(a) and rule 17d–1, which restrict a fund’s ability to enter into transactions and joint arrangements with affiliated persons.4 These provisions could otherwise prohibit an acquiring fund from investing in a money market fund in the same fund complex,5 or prohibit a fund that acquires five percent or more of the securities of a money market fund in another fund complex from making any additional investments in the money market fund.6 The rule also permits a registered fund to rely on the exemption to invest in an unregistered money market fund that limits its investments to those in which a registered money market fund may invest under rule 2a–7 under the Act (17 CFR 270.2a–7), and undertakes to comply with all the other provisions of rule 2a–7. In addition the acquiring fund must reasonably believe that the unregistered money market fund (i) operates in compliance with rule 2a–7, (ii) complies with sections 17(a), (d), (e), 18, and 22(e) of the Act 7 as if it were a registered open-end fund, (iii) has adopted procedures designed to ensure that it complies with these statutory provisions, (iv) maintains the records required by rules 31a–1(b)(2)(ii), 31a– 3 See Rule 12d1–1(b)(1). 15 U.S.C. 80a–17(a), 15 U.S.C. 80a–17(d); 17 CFR 270.17d–1. 5 An affiliated person of a fund includes any person directly or indirectly controlling, controlled by, or under common control with such other person. See 15 U.S.C. 80a–2(a)(3)(C) (definition of ‘‘affiliated person’’). Most funds today are organized by an investment adviser that advises or provides administrative services to other funds in the same complex. Funds in a fund complex are generally under common control of an investment adviser or other person exercising a controlling influence over the management or policies of the funds. See 15 U.S.C. 80a–2(a)(9). Not all advisers control funds they advise. The determination of whether a fund is under the control of its adviser, officers, or directors depends on all the relevant facts and circumstances. See Investment Company Mergers, Investment Company Act Release No. 25259 (Nov. 8, 2001) [66 FR 57602 (Nov. 15, 2001)], at n.11. To the extent that an acquiring fund in a fund complex is under common control with a money market fund in the same complex, the funds would rely on the rule’s exemptions from section 17(a) and rule 17d–1. 6 See 15 U.S.C. 80a–2(a)(3)(A), (B). 7 See 15 U.S.C. 80a–17(a), 15 U.S.C. 80a–17(d), 15 U.S.C. 80a–17(e), 15 U.S.C. 80a–18, 15 U.S.C. 80a– 22(e). 4 See E:\FR\FM\08SEN1.SGM 08SEN1

Agencies

[Federal Register Volume 71, Number 174 (Friday, September 8, 2006)]
[Notices]
[Page 53139]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-14864]


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NUCLEAR REGULATORY COMMISSION


Advisory Committee on Reactor Safeguards; Meeting of the 
Subcommittee on Reliability and Probabilistic Risk Assessment; Notice 
of Meeting

    The ACRS Subcommittee on Reliability and Probabilistic Risk 
Assessment will hold a meeting on September 21, 2006, Room T-2B1, 11545 
Rockville Pike, Rockville, Maryland.
    The entire meeting will be open to public attendance.
    The agenda for the subject meeting shall be as follows: Thursday, 
September 21, 2006, 8:30 a.m. until 5 p.m.
    The purpose of the meeting is to discuss draft final NUREG-1824 
(EPRI 1011999), ``Verification and Validation of Selected Fire Models 
for Nuclear Power Plant Applications.'' The Subcommittee will hear 
presentations by and hold discussions with representatives of the NRC 
staff, Electric Power Research Institute (EPRI), and other interested 
persons regarding this matter. The Subcommittee will also be briefed by 
representatives of the NRC staff on draft NUREG-1852, ``Demonstrating 
the Feasibility and Reliability of Operator Manual Actions in Response 
to Fire.'' The Subcommittee will gather information, analyze relevant 
issues and facts, and formulate proposed positions and actions, as 
appropriate, for deliberation by the full Committee.
    Members of the public desiring to provide oral statements and/or 
written comments should notify the Designated Federal Official, Dr. 
Hossein P. Nourbakhsh (telephone 301/415-5622), five days prior to the 
meeting, if possible, so that appropriate arrangements can be made. 
Electronic recordings will be permitted.
    Further information regarding this meeting can be obtained by 
contacting the Designated Federal Official between 7:30 a.m. and 4:15 
p.m. (ET). Persons planning to attend this meeting are urged to contact 
the above named individual at least two working days prior to the 
meeting to be advised of any potential changes to the agenda.

    Dated: August 31, 2006.
Michael R. Snodderly,
Branch Chief, ACRS/ACNW.
[FR Doc. E6-14864 Filed 9-7-06; 8:45 am]
BILLING CODE 7590-01-P
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