In the Matter of Digital Gas, Inc.; Order of Suspension of Trading, 67663 [06-9332]

Download as PDF Federal Register / Vol. 71, No. 225 / Wednesday, November 22, 2006 / Notices 1. Because the Trusts do not limit their investments to ‘‘eligible trust securities,’’ the Trusts do not qualify for the exemption in paragraph (c) of rule 19b–1. Therefore, applicants request an exemption under section 6(c) from section 19(b) and rule 19b–1 to the extent necessary to permit capital gains earned in connection with the sale of portfolio securities to be distributed to Unitholders along with the Series’ regular distributions. In all other respects, applicants will comply with section 19(b) and rule 19b–1. 2. Applicants state that their proposal meets the standards of section 6(c). Applicants assert that any sale of portfolio securities would be triggered by the need to meet Series’ expenses, Installment Payments or by requests to redeem Units, events over which the Sponsor and the Series have no control. Applicants further state that, because principal distributions must be clearly indicated in accompanying reports to Unitholders as a return of principal and will be relatively small in comparison to normal dividend distributions, there is little danger of confusion from failure to differentiate among distributions. given prominent notice of the impending termination or amendment at least 60 days prior to the date of termination or the effective date of the amendment, provided that: (a) No such notice need be given if the only material effect of an amendment is to reduce or eliminate the sales charge payable at the time of an exchange, to make one or more New Series eligible for the Exchange Privilege, Conversion Offer or Rollover Privilege, or to delete a Series which has terminated; and (b) no notice need be given if, under extraordinary circumstances, either (i) there is a suspension of the redemption of Units of the Series under section 22(e) of the Act and the rules and regulations promulgated under that section, or (ii) a Series temporarily delays or ceases the sale of its Units because it is unable to invest amounts effectively in accordance with applicable investment objectives, policies, and restrictions. 3. An investor who purchases Units under the Exchange Privilege, Conversion Offer or Rollover Privilege will pay a lower sales charge than that which would be paid for the Units by a new investor. Applicants’ Conditions Applicants agree that any order granting the requested relief will be subject to the following conditions: C. Net Worth Requirement pwalker on PROD1PC61 with NOTICES A. DSC and Waiver of DSC Under Certain Circumstances 1. Each Series offering Units subject to a DSC will include in its prospectus the disclosure required in Form N–1A relating to deferred sales charges, modified as appropriate to reflect the differences between UITs and open-end management investment companies, and a schedule setting forth the number and date of each installment payment. 2. Any DSC imposed on Units issued by a Series will comply with the requirements of subparagraphs (1), (2) and (3) of rule 6c–10(a) under the Act. B. Exchange Privilege, Conversion Offer and Rollover Privilege 1. The prospectus of each Series offering exchanges, rollovers, or conversions and any sales literature or advertising that mentions the existence of the Exchange Privilege, Conversion Offer or Rollover Privilege will disclose that the Exchange Privilege, Conversion Offer or Rollover Privilege is subject to modification, termination or suspension without notice, except in limited cases. 2. Whenever the Exchange Privilege, Conversion Offer or Rollover Privilege is to be terminated or its terms are to be amended materially, any holder of a security subject to that privilege will be VerDate Aug<31>2005 22:25 Nov 21, 2006 Jkt 211001 Applicants will comply in all respects with the requirements of rule 14a–3, except that the Series will not restrict their portfolio investments to ‘‘eligible trust securities.’’ D. Purchase and Sale Transactions Between a Terminating Series and a New Series 1. Each sale of Qualified Securities by a Terminating Series to a New Series will be effected at the closing price of the securities sold on a Qualified Exchange on the sale date, without any brokerage charges or other remuneration except customary transfer fees, if any. 2. The nature and conditions of such transactions will be fully disclosed to investors in the appropriate prospectus of each Terminating Series and New Series. 3. The Trustee of each Terminating Series and New Series will review the procedures discussed in the application relating to the sale of securities from a Terminating Series and the purchase of those securities for deposit in a New Series, and make such changes to the procedures as the Trustee deems necessary to ensure compliance with paragraphs (a) through (d) of rule 17a– 7. 4. A written copy of these procedures and a written record of each transaction pursuant to this order will be maintained as provided in rule 17a–7(g). PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 67663 For the Commission, by the Division of Investment Management, under delegated authority. Nancy M. Morris, Secretary. [FR Doc. E6–19739 Filed 11–21–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Digital Gas, Inc.; Order of Suspension of Trading November 17, 2006. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Digital Gas, Inc. (‘‘Digital’’), because of questions raised regarding the accuracy and adequacy of publicly disseminated information concerning, among other things, Digital’s announced agreement with Techno Rubber, Inc. and Digital’s assets. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the abovelisted company is suspended for the period from 9:30 a.m. EST, November 17, 2006, through 11:59 p.m. EST, on December 4, 2006. By the Commission. Nancy M. Morris, Secretary. [FR Doc. 06–9332 Filed 11–17–06; 11:31 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54762; File No. SR–CBOE– 2006–93] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Order Granting Accelerated Approval to a Proposed Rule Change Regarding Quarterly Options Series November 16, 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 November 8, 2006, the Chicago Board Options 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. E:\FR\FM\22NON1.SGM 22NON1

Agencies

[Federal Register Volume 71, Number 225 (Wednesday, November 22, 2006)]
[Notices]
[Page 67663]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-9332]


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SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


In the Matter of Digital Gas, Inc.; Order of Suspension of 
Trading

November 17, 2006.
    It appears to the Securities and Exchange Commission that there is 
a lack of current and accurate information concerning the securities of 
Digital Gas, Inc. (``Digital''), because of questions raised regarding 
the accuracy and adequacy of publicly disseminated information 
concerning, among other things, Digital's announced agreement with 
Techno Rubber, Inc. and Digital's assets.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in the 
securities of the above-listed company.
    Therefore, it is ordered, pursuant to Section 12(k) of the 
Securities Exchange Act of 1934, that trading in the above-listed 
company is suspended for the period from 9:30 a.m. EST, November 17, 
2006, through 11:59 p.m. EST, on December 4, 2006.

    By the Commission.
Nancy M. Morris,
Secretary.
[FR Doc. 06-9332 Filed 11-17-06; 11:31 am]
BILLING CODE 8011-01-P
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