Portland & Western Railroad, Inc.-Acquisition and Operation Exemption-Union Pacific Railroad Company, 68668-68669 [06-9416]

Download as PDF 68668 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Notices upon the revenue generated by NSX members in the three tapes.7 NASD filed the proposed rule change for immediate effectiveness. NASD proposes to implement the proposed rule change (1) for Nasdaq-listed securities on the first day of operation of the NADS/NSX TRF, which is currently anticipated to be in November 2006, and (2) for non-Nasdaq exchangelisted securities on the day on which the NASD/NSX TRF commences operation with respect to such securities. 2. Statutory Basis NASD believes that the proposed rule change is consistent with the provisions of Section 15A of the Act,8 in general, and with Section 15A(b)(5) of the Act,9 in particular, which requires, among other things, that NASD rules provide for the equitable allocation of reasonable dues, fees and other charges among members and issuers and other persons using any facility or system that NASD operates or controls. NASD believes that the proposed rule change is a reasonable and equitable fee and credit structure in that there will be no fees charged for trade reporting to the NASD/NSX TRF for locked-in transactions in exchangelisted securities effected otherwise than on an exchange, and the proposed transaction credit program is identical to existing credits for the NSX. B. Self-Regulatory Organization’s Statement on Burden on Competition NASD does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. sroberts on PROD1PC70 with NOTICES C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were neither solicited nor received. 16:58 Nov 24, 2006 Jkt 211001 Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) Impose any significant burden on competition; and (iii) Become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 10 and Rule 19b–4(f)(6) thereunder.11 At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. NASD has asked that the Commission waive the 30-day operative delay contained in Rule 19b–4(f)(6)(iii) under the Act.12 The Commission believes such waiver is consistent with the protection of investors and the public interest, for it will allow NASD to implement the proposed rule change on the first day of operation of the NASD/ NSX TRF. For these reasons, the Commission designates the proposal to be effective and operative upon filing with the Commission.13 IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments 7 See Securities Exchange Act Release Nos. 54194 (July 24, 2006), 71 FR 43258 (July 31, 2006) (SR– NSX–2006–10), and 53860 (May 24, 2006), 71 FR 31250 (June 1, 2006) (SR–NSX–2006–07). ‘‘Gross revenue’’ is defined under the existing NSX program the same way as under the proposed program for the NASD/Nasdaq TRF. NASD also notes that the proposed transaction credit program is substantially equivalent to the existing transaction credit program for the NASD/ Nasdaq TRF under NASD Rule 7001B. The only difference between the two programs is that under the NASD/Nasdaq TRF transaction credit program, members receive 50% of revenue after deducting any amounts that the NASD/Nasdaq TRF will be required to pay to the Consolidated Tape Association or the Nasdaq Securities Information Processor for capacity usage. Under the proposed transaction credit program for the NASD/NSX TRF, such expenses will not be deducted. 8 15 U.S.C. 78o–3. 9 15 U.S.C. 78o–3(b)(5). VerDate Aug<31>2005 III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NASD–2006–127 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 10 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 12 17 CFR 240.19b–4(f)(6)(iii). 13 For purposes only of waiving the 30-day operative delay of this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 11 17 PO 00000 Frm 00140 Fmt 4703 Sfmt 4703 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR-NASD–2006–127. This file number should be included on the subject line if e-mail is used. To help the Commission 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/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission’s Public Reference Room. Copies of such filing also will be available for inspection and copying at the principal office of NASD. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–NASD–2006–127 and should be submitted on or before December 18, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.14 Nancy M. Morris, Secretary. [FR Doc. E6–19967 Filed 11–24–06; 8:45 am] BILLING CODE 8011–01–P DEPARTMENT OF TRANSPORTATION Surface Transportation Board [STB Finance Docket No. 34792] Portland & Western Railroad, Inc.— Acquisition and Operation Exemption—Union Pacific Railroad Company Portland & Western Railroad, Inc. (P&W), a Class III rail carrier, has filed a verified notice of exemption under 49 CFR 1150.41 to acquire a permanent, exclusive rail freight operating easement from Union Pacific Railroad Company (UP) to operate over an approximately 5mile rail line between milepost 749.95 in Tigard, OR, and milepost 755.43 in 14 17 E:\FR\FM\27NON1.SGM CFR 200.30–3(a)(12). 27NON1 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Notices Beaverton, OR. Currently, P&W conducts local and overhead freight operations on the rail line pursuant to a lease with UP. The proposed transaction will change P&W’s property interest in the rail line, but P&W will continue to operate over the line as the only common carrier providing rail freight service. P&W has certified that its projected annual revenues as a result of this transaction will not exceed the annual revenues of a Class III railroad, but will exceed $5 million. The transaction is scheduled to be consummated by no later than November 27, 2006.1 If the verified notice contains false or misleading information, the exemption is void ab initio. Petitions to revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time. The filing of a petition to revoke will not automatically stay the transaction. sroberts on PROD1PC70 with NOTICES 1 P&W seeks a waiver of the notice requirements of 49 CFR 1150.42(e). The Board will address that request in a separate decision. In the absence of a waiver granted by the Board on or before November 27, 2006, the earliest the transaction would be able to be consummated would be the date established by the Board as the effective date of the exemption in the decision addressing the waiver request. VerDate Aug<31>2005 16:58 Nov 24, 2006 Jkt 211001 An original and 10 copies of all pleadings, referring to STB Finance Docket No. 34792, must be filed with the Surface Transportation Board, 1925 K Street, NW., Washington, DC 20423– 0001. In addition, a copy of any pleading filed with the Board must be sent to P&W’s representative: Marc D. Machlin, 600 Fourteenth Street, NW., Washington, DC 20005. Board decisions and notices are available on our Web site at ‘‘WWW.STB.DOT.GOV.’’ Decided: November 16, 2006. By the Board, David M. Konschnik, Director, Office of Proceedings. Vernon A. Williams, Secretary. [FR Doc. 06–9416 Filed 11–24–06; 8:45 am] BILLING CODE 4915–01–P UNITED STATES INSTITUTE OF PEACE LOCATION: 1200 17th Street, NW., Suite 200, Washington, DC 20036–3011. STATUS: Open Session—Portions may be closed pursuant to Subsection (c) of Section 552(b) of Title 5, United States Code, as provided in subsection 1706(h)(3) of the United States Institute of Peace Act, Public Law 98–525. November 28, 2006 Board Meeting; Approval of Minutes of the One Hundred Twenty-Fourth Meeting (September 28, 2006) of the Board of Directors; Chairman’s Report; President’s Report; Budget Update; Iraq Study Group Update; Other General Issues. AGENDA: CONTACT: Tessie F. Higgs, Executive Office, Telephone: (202) 429–3836. Dated: November 20, 2006. Patricia P. Thomson, Executive Vice President, United States Institute of Peace. [FR Doc. 06–9415 Filed 11–22–06; 10:33 am] BILLING CODE 6820–AR–M Notice of Meeting Tuesday, November 28, 2006, 9 a.m.–3 p.m. DATE/TIME: PO 00000 Frm 00141 Fmt 4703 Sfmt 4703 68669 E:\FR\FM\27NON1.SGM 27NON1

Agencies

[Federal Register Volume 71, Number 227 (Monday, November 27, 2006)]
[Notices]
[Pages 68668-68669]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-9416]


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DEPARTMENT OF TRANSPORTATION

Surface Transportation Board

[STB Finance Docket No. 34792]


Portland & Western Railroad, Inc.--Acquisition and Operation 
Exemption--Union Pacific Railroad Company

    Portland & Western Railroad, Inc. (P&W), a Class III rail carrier, 
has filed a verified notice of exemption under 49 CFR 1150.41 to 
acquire a permanent, exclusive rail freight operating easement from 
Union Pacific Railroad Company (UP) to operate over an approximately 5-
mile rail line between milepost 749.95 in Tigard, OR, and milepost 
755.43 in

[[Page 68669]]

Beaverton, OR. Currently, P&W conducts local and overhead freight 
operations on the rail line pursuant to a lease with UP. The proposed 
transaction will change P&W's property interest in the rail line, but 
P&W will continue to operate over the line as the only common carrier 
providing rail freight service.
    P&W has certified that its projected annual revenues as a result of 
this transaction will not exceed the annual revenues of a Class III 
railroad, but will exceed $5 million.
    The transaction is scheduled to be consummated by no later than 
November 27, 2006.\1\
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    \1\ P&W seeks a waiver of the notice requirements of 49 CFR 
1150.42(e). The Board will address that request in a separate 
decision. In the absence of a waiver granted by the Board on or 
before November 27, 2006, the earliest the transaction would be able 
to be consummated would be the date established by the Board as the 
effective date of the exemption in the decision addressing the 
waiver request.
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    If the verified notice contains false or misleading information, 
the exemption is void ab initio. Petitions to revoke the exemption 
under 49 U.S.C. 10502(d) may be filed at any time. The filing of a 
petition to revoke will not automatically stay the transaction.
    An original and 10 copies of all pleadings, referring to STB 
Finance Docket No. 34792, must be filed with the Surface Transportation 
Board, 1925 K Street, NW., Washington, DC 20423-0001. In addition, a 
copy of any pleading filed with the Board must be sent to P&W's 
representative: Marc D. Machlin, 600 Fourteenth Street, NW., 
Washington, DC 20005.
    Board decisions and notices are available on our Web site at 
``WWW.STB.DOT.GOV.''

    Decided: November 16, 2006.

    By the Board, David M. Konschnik, Director, Office of 
Proceedings.
Vernon A. Williams,
Secretary.
[FR Doc. 06-9416 Filed 11-24-06; 8:45 am]
BILLING CODE 4915-01-P
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