Inspection Authorization 2-Year Renewal, 35151-35152 [E7-12453]
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Federal Register / Vol. 72, No. 123 / Wednesday, June 27, 2007 / Rules and Regulations
Officer and
director
purchases
(percent)
Institution size
pwalker on PROD1PC71 with RULES
$ 50,000,000 or less ............................................................................................................................................................................
$ 50,000,001–100,000,000 ..................................................................................................................................................................
$100,000,001–150,000,000 .................................................................................................................................................................
$150,000,001–200,000,000 .................................................................................................................................................................
$200,000,001–250,000,000 .................................................................................................................................................................
$250,000,001–300,000,000 .................................................................................................................................................................
$300,000,001–350,000,000 .................................................................................................................................................................
$350,000,001–400,000,000 .................................................................................................................................................................
$400,000,001–450,000,000 .................................................................................................................................................................
$450,000,001–500,000,000 .................................................................................................................................................................
Over $500,000,000 ..............................................................................................................................................................................
(ii) The percentage limitations
contained in paragraph 8(i) may be
exceeded provided that all stock
acquired by insiders and associates of
insiders or awarded under all MRPs and
Option Plans in excess of those
limitations is acquired in the secondary
market. If acquired for such awards on
the secondary market, such acquisitions
must begin no earlier than one year after
the close of the proposed issuance or
any subsequent issuance that is made in
substantial conformity with the
purchase priorities set forth in Part
563b.
(iii) In calculating the number of
shares held by insiders and their
associates under this provision, shares
awarded but not delivered under an
ESOP, MRP, or Option Plan that are
attributable to such persons shall not be
counted as being acquired by such
persons.
(9) Provide that the amount of
common stock that may be
encompassed under all Option Plans
and MRPs must not exceed, in the
aggregate, 25 percent of the outstanding
common stock held by persons other
than the savings association’s mutual
holding company parent at the close of
the proposed issuance.
*
*
*
*
*
(c) Applicability of provisions of
§ 563b.500(a) to minority stock
issuances. Notwithstanding § 575.7(d) of
this section, § 563b.500(a)(2) and (3) do
not apply to minority stock issuances,
because the permissible sizes of ESOPs,
MRPs, and Option Plans in minority
stock issuances are subject to each of the
requirements set forth at paragraphs
(a)(3) through (a)(9) of this section.
Section 563b.500, paragraphs (a)(4)
through (14), apply for one year after the
savings association engages in a
minority stock issuance that is
conducted in accordance with the
purchase priorities set forth in part
563b. In addition to the shareholder
vote requirement for Option Plans and
MRPs set forth at § 563b.500(a)(6), any
VerDate Aug<31>2005
18:11 Jun 26, 2007
Jkt 211001
35151
Option Plans and MRPs put to a
shareholder vote after a minority stock
issuance that is conducted in
accordance with the purchase priorities
set forth in part 563b must be approved
by a majority of the votes cast by
stockholders other than the mutual
holding company.
Dated: June 18, 2007.
By the Office of Thrift Supervision.
John M. Reich,
Director
[FR Doc. E7–12168 Filed 6–26–07; 8:45 am]
35
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Facility in Room W12–140 of the West
Building, Ground Floor at 1200 New
Jersey Avenue, SE., Washington, DC,
between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
FOR FURTHER INFORMATION CONTACT: Kim
Barnette (AFS–350), Aircraft
Maintenance Division, General Aviation
and Avionics Branch, Flight Standards
Service, Federal Aviation
Administration, 800 Independence
Avenue SW., Washington, DC 20591,
telephone (202) 493–4922.
SUPPLEMENTARY INFORMATION:
BILLING CODE 6720–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 65
[Docket No. FAA–2007–27108; Amendment
No. 65–50]
RIN 2120–AI83
Inspection Authorization 2-Year
Renewal
Federal Aviation
Administration (FAA), DOT.
ACTION: Direct final rule; confirmation of
effective date.
AGENCY:
SUMMARY: On January 30, 2007, the FAA
issued a direct final rule, ‘‘Inspection
Authorization 2-Year Renewal,’’ which
amended the renewal period for
inspection authorizations and requested
comments. This document responds to
the comments received and confirms the
effective date of the rule.
DATES: The effective date for the direct
final rule published on January 30, 2007
(72 FR 4400) is confirmed as March 1,
2007.
ADDRESSES: The complete docket for the
direct final rule on Inspection
Authorization, Docket No. 27108 may be
examined at https://dms.dot.gov at any
time or go to the Docket Management
PO 00000
Frm 00015
Fmt 4700
Sfmt 4700
Background
On January 30, 2007, the FAA
published a direct final rule (72 FR
4933) amending the renewal period for
inspection authorizations. The rule
became effective on March 1, 2007.
The direct final rule is the product of
discussions between industry
representatives (including the
Professional Aviation Maintenance
Association) and the FAA. The
discussions led to a consensus to change
the 1-year inspection authorization
renewal period to once every two years.
Under the direct final rule, the
expiration date of an inspection
authorization changed from March 31 of
each year to March 31 of each oddnumbered year. The intent of the rule is
to relieve administrative costs
associated with renewing inspection
authorizations for both FAA and the IA
holders without affecting safety.
The rule retains the annual activity
requirement for each year of the 2-year
IA period. Consistent with the annual
aspects of the former rule, an IA holder
must perform one of the five activities
listed in § 65.93 (a)(1)–(5) during the
first year of the 2-year IA period. A new
paragraph (c) states if the IA holder does
not complete one of those activities by
March 31 of the first year, the holder
may not exercise the inspection
authorization privileges after that date.
However, the holder may resume
exercising IA privileges during the
E:\FR\FM\27JNR1.SGM
27JNR1
35152
Federal Register / Vol. 72, No. 123 / Wednesday, June 27, 2007 / Rules and Regulations
pwalker on PROD1PC71 with RULES
second year if the IA holder passes an
oral test given by an FAA inspector to
determine if the holder’s knowledge of
applicable regulations and standards is
current. If the holder passes the oral
test, the FAA will consider the first year
requirement completed. Each IA holder
must also perform one of the five
activities listed in § 65.93 (a)(1)–(5)
during the second year of the inspection
authorization period to be eligible for
renewal.
Discussion of Comments
The FAA received approximately 60
comments in response to the IA renewal
period direct final rule. The comments
generally were supportive of the twoyear renewal period. Commenters stated
they were happy to see the FAA become
actively involved in reviewing
inspection authorization procedures and
agreed that the change would result in
time and money savings.
Many who commented favorably on
the direct final rule also took the
opportunity to recommend other and
more significant changes to the
regulations applicable to IA holders.
Several commenters suggested
completely restructuring the cycle for
renewing IA holders to provide for
individual expiration dates for each IA
holder based on date of birth or the date
of the initial grant of IA authority. A
number of commenters said the annual
activity requirement should be
eliminated and a two-year period for the
activity requirement should be
established. The Aircraft Electronics
Association (AEA) suggested the FAA
establish a rating system for IA holders
similar to the rating system for repair
stations. Several comments addressed
matters of the FAA’s oversight of IA
holders.
These comments will be evaluated by
the FAA as it considers possible future
actions to amend the rules relating to
IAs, but they address matters beyond
the limited scope of the direct final rule.
The FAA could not adopt those
proposals without further rulemaking,
and the significance of those actions
would require FAA to issue a notice of
proposed rulemaking prior to amending
the rule.
Three commenters misunderstood one
provision in the rule. The rule permits
an IA who fails to meet the annual
activity requirement during the first
year the option to take an oral test from
an FAA inspector and thereafter
exercise IA privileges during the
remainder of the second year of the twoyear IA period. For purposes of later
renewal, the oral test would be counted
as meeting the activity for the first year.
(The individual also could choose to
VerDate Aug<31>2005
18:11 Jun 26, 2007
Jkt 211001
reapply for IA authority, the only means
available under the prior rule when the
activity requirement was not met.) The
rule does not require, as these
commenters thought, that all IA holders
must take an oral test during the twoyear IA renewal cycle to be able to
renew their authority.
Several commenters mistakenly
thought the rule requires each IA holder
to submit a list of activities each year to
the FAA that demonstrates the IA
holder’s compliance with the annual
activity requirement. This is not the
case. Rather, the rule requires an
applicant for renewal every two years to
present evidence of compliance with the
annual activity requirement for each of
the preceding two years.
A number of commenters expressed
concern that some IA holders
inadvertently may continue to exercise
IA privileges into the second year of the
two-year renewal period even though
they failed to meet the annual activity
requirement before March 31 of the first
year. The FAA is aware of this
possibility because similar events
occurred under the prior rule. Each year
under the old rule, a few IA holders
failed to renew during March and then
mistakenly continued to perform IA
responsibilities. The instances were
rare, and the FAA addressed them
without significant difficulties as part of
its routine oversight of IA holders.
There is a multi-decade history of the
annual activity requirement for IA
holders and nothing in the rule change
disturbed that requirement. Indeed, not
only was it retained, but the request for
comments on this rule served as a way
of reminding IA holders of the
longstanding annual activity
requirement. The FAA does not expect
IA holders to perform differently or to
lose sight of this core element of the rule
simply because of the two-year renewal
cycle. As in the past, the FAA will
monitor compliance with the
regulations and take enforcement action
where appropriate. The FAA also will
use the refresher course training
curriculum as a way of ensuring that IA
holders attending training are reminded
of the rule requirement, and FAA
inspectors will regularly address the
matter in the context of their routine
checks of IAs.
Finally, because 2008 will be the first
year under the new two-year renewal
cycle, FAA will remind each IA of the
annual activity requirements for March
2008 through the FAA Information for
Operations procedure.
Conclusion
After consideration of the comments
submitted in response to the final rule,
PO 00000
Frm 00016
Fmt 4700
Sfmt 4700
the FAA has determined that no further
rulemaking action is necessary.
Amendment 65–50 remains in effect as
adopted.
Issued in Washington, DC on June 20,
2007.
James J. Ballough,
Director, Flight Standards Service.
[FR Doc. E7–12453 Filed 6–26–07; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 97
[Docket No. 30557; Amdt. No. 3224]
Standard Instrument Approach
Procedures; Miscellaneous
Amendments
Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule.
AGENCY:
SUMMARY: This amendment amends
Standard Instrument Approach
Procedures (SIAPs) for operations at
certain airports. These regulatory
actions are needed because of changes
occurring in the National Airspace
System, such as the commissioning of
new navigational facilities, addition of
new obstacles, or changes in air traffic
requirements. These changes are
designed to provide safe and efficient
use of the navigable airspace and to
promote safe flight operations under
instrument flight rules at the affected
airports.
DATES: This rule is effective June 27,
2007. The compliance date for each
SIAP is specified in the amendatory
provisions.
The incorporation by reference of
certain publications listed in the
regulations is approved by the Director
of the Federal Register as of June 27,
2007.
Availability of matter
incorporated by reference in the
amendment is as follows:
For Examination—
1. FAA Rules Docket, FAA
Headquarters Building, 800
Independence Ave., SW., Washington,
DC 20591;
2. The FAA Regional Office of the
region in which affected airport is
located; or
3. The National Flight Procedures
Office, 6500 South MacArthur Blvd.,
Oklahoma City, OK 73169 or,
4. The National Archives and Records
Administration (NARA). For
information on the availability of this
ADDRESSES:
E:\FR\FM\27JNR1.SGM
27JNR1
]]>Agencies
[Federal Register Volume 72, Number 123 (Wednesday, June 27, 2007)]
[Rules and Regulations]
[Pages 35151-35152]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-12453]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 65
[Docket No. FAA-2007-27108; Amendment No. 65-50]
RIN 2120-AI83
Inspection Authorization 2-Year Renewal
AGENCY: Federal Aviation Administration (FAA), DOT.
ACTION: Direct final rule; confirmation of effective date.
-----------------------------------------------------------------------
SUMMARY: On January 30, 2007, the FAA issued a direct final rule,
``Inspection Authorization 2-Year Renewal,'' which amended the renewal
period for inspection authorizations and requested comments. This
document responds to the comments received and confirms the effective
date of the rule.
DATES: The effective date for the direct final rule published on
January 30, 2007 (72 FR 4400) is confirmed as March 1, 2007.
ADDRESSES: The complete docket for the direct final rule on Inspection
Authorization, Docket No. 27108 may be examined at https://dms.dot.gov
at any time or go to the Docket Management Facility in Room W12-140 of
the West Building, Ground Floor at 1200 New Jersey Avenue, SE.,
Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal holidays.
FOR FURTHER INFORMATION CONTACT: Kim Barnette (AFS-350), Aircraft
Maintenance Division, General Aviation and Avionics Branch, Flight
Standards Service, Federal Aviation Administration, 800 Independence
Avenue SW., Washington, DC 20591, telephone (202) 493-4922.
SUPPLEMENTARY INFORMATION:
Background
On January 30, 2007, the FAA published a direct final rule (72 FR
4933) amending the renewal period for inspection authorizations. The
rule became effective on March 1, 2007.
The direct final rule is the product of discussions between
industry representatives (including the Professional Aviation
Maintenance Association) and the FAA. The discussions led to a
consensus to change the 1-year inspection authorization renewal period
to once every two years. Under the direct final rule, the expiration
date of an inspection authorization changed from March 31 of each year
to March 31 of each odd-numbered year. The intent of the rule is to
relieve administrative costs associated with renewing inspection
authorizations for both FAA and the IA holders without affecting
safety.
The rule retains the annual activity requirement for each year of
the 2-year IA period. Consistent with the annual aspects of the former
rule, an IA holder must perform one of the five activities listed in
Sec. 65.93 (a)(1)-(5) during the first year of the 2-year IA period. A
new paragraph (c) states if the IA holder does not complete one of
those activities by March 31 of the first year, the holder may not
exercise the inspection authorization privileges after that date.
However, the holder may resume exercising IA privileges during the
[[Page 35152]]
second year if the IA holder passes an oral test given by an FAA
inspector to determine if the holder's knowledge of applicable
regulations and standards is current. If the holder passes the oral
test, the FAA will consider the first year requirement completed. Each
IA holder must also perform one of the five activities listed in Sec.
65.93 (a)(1)-(5) during the second year of the inspection authorization
period to be eligible for renewal.
Discussion of Comments
The FAA received approximately 60 comments in response to the IA
renewal period direct final rule. The comments generally were
supportive of the two-year renewal period. Commenters stated they were
happy to see the FAA become actively involved in reviewing inspection
authorization procedures and agreed that the change would result in
time and money savings.
Many who commented favorably on the direct final rule also took the
opportunity to recommend other and more significant changes to the
regulations applicable to IA holders. Several commenters suggested
completely restructuring the cycle for renewing IA holders to provide
for individual expiration dates for each IA holder based on date of
birth or the date of the initial grant of IA authority. A number of
commenters said the annual activity requirement should be eliminated
and a two-year period for the activity requirement should be
established. The Aircraft Electronics Association (AEA) suggested the
FAA establish a rating system for IA holders similar to the rating
system for repair stations. Several comments addressed matters of the
FAA's oversight of IA holders.
These comments will be evaluated by the FAA as it considers
possible future actions to amend the rules relating to IAs, but they
address matters beyond the limited scope of the direct final rule. The
FAA could not adopt those proposals without further rulemaking, and the
significance of those actions would require FAA to issue a notice of
proposed rulemaking prior to amending the rule.
Three commenters misunderstood one provision in the rule. The rule
permits an IA who fails to meet the annual activity requirement during
the first year the option to take an oral test from an FAA inspector
and thereafter exercise IA privileges during the remainder of the
second year of the two-year IA period. For purposes of later renewal,
the oral test would be counted as meeting the activity for the first
year. (The individual also could choose to reapply for IA authority,
the only means available under the prior rule when the activity
requirement was not met.) The rule does not require, as these
commenters thought, that all IA holders must take an oral test during
the two-year IA renewal cycle to be able to renew their authority.
Several commenters mistakenly thought the rule requires each IA
holder to submit a list of activities each year to the FAA that
demonstrates the IA holder's compliance with the annual activity
requirement. This is not the case. Rather, the rule requires an
applicant for renewal every two years to present evidence of compliance
with the annual activity requirement for each of the preceding two
years.
A number of commenters expressed concern that some IA holders
inadvertently may continue to exercise IA privileges into the second
year of the two-year renewal period even though they failed to meet the
annual activity requirement before March 31 of the first year. The FAA
is aware of this possibility because similar events occurred under the
prior rule. Each year under the old rule, a few IA holders failed to
renew during March and then mistakenly continued to perform IA
responsibilities. The instances were rare, and the FAA addressed them
without significant difficulties as part of its routine oversight of IA
holders.
There is a multi-decade history of the annual activity requirement
for IA holders and nothing in the rule change disturbed that
requirement. Indeed, not only was it retained, but the request for
comments on this rule served as a way of reminding IA holders of the
longstanding annual activity requirement. The FAA does not expect IA
holders to perform differently or to lose sight of this core element of
the rule simply because of the two-year renewal cycle. As in the past,
the FAA will monitor compliance with the regulations and take
enforcement action where appropriate. The FAA also will use the
refresher course training curriculum as a way of ensuring that IA
holders attending training are reminded of the rule requirement, and
FAA inspectors will regularly address the matter in the context of
their routine checks of IAs.
Finally, because 2008 will be the first year under the new two-year
renewal cycle, FAA will remind each IA of the annual activity
requirements for March 2008 through the FAA Information for Operations
procedure.
Conclusion
After consideration of the comments submitted in response to the
final rule, the FAA has determined that no further rulemaking action is
necessary. Amendment 65-50 remains in effect as adopted.
Issued in Washington, DC on June 20, 2007.
James J. Ballough,
Director, Flight Standards Service.
[FR Doc. E7-12453 Filed 6-26-07; 8:45 am]
BILLING CODE 4910-13-P
