Amendment to Regulations Governing the Filing of Proof of Financial Responsibility, 56272-56273 [E7-19464]

Download as PDF 56272 Federal Register / Vol. 72, No. 191 / Wednesday, October 3, 2007 / Rules and Regulations EPA-APPROVED MISSISSIPPI REGULATIONS State citation Title/subject State effective date EPA approval date Explanation APC–S–1. Air Emission Regulations for the Prevention, Abatement, and Control of Air Contaminants * * Section 14 ................................ * * * * Provision for the Clean Air Interstate Rule. * * * * * [FR Doc. E7–19320 Filed 10–2–07; 8:45 am] BILLING CODE 6560–50–P FEDERAL MARITIME COMMISSION 46 CFR Part 515 [Docket No. 07–06] RIN 3072–AC33 Amendment to Regulations Governing the Filing of Proof of Financial Responsibility September 27, 2007. Federal Maritime Commission. Final Rule. AGENCY: ACTION: SUMMARY: The Federal Maritime Commission (‘‘FMC’’ or ‘‘Commission’’) amends its regulations governing proof of financial responsibility for ocean transportation intermediaries (‘‘OTIs’’) required to be filed prior to commencement of OTI services. The amendment reduces the amount of time an applicant has to file the requisite proof of financial responsibility from two years to 120 days, after approval of the applicant’s license application. Upon expiration of the 120-day time period, if valid proof of financial responsibility has not been provided by the applicant, its OTI application will be considered invalid. Applications approved prior to the effective date of this Final Rule will continue to be subject to the two-year time period to submit valid proof of financial responsibility. DATES: Effective November 5, 2007. ebenthall on PRODPC61 with RULES FOR FURTHER INFORMATION CONTACT: Sandra L. Kusumoto, Director, Bureau of Certification and Licensing, Federal Maritime Commission, 800 N. Capitol Street, NW., Room 970, Washington, DC 20573–0001.(202) 523–5787, e-mail: skusumoto@fmc.gov. Amy W. Larson, General Counsel, Office of the General Counsel, Federal Maritime Commission, 800 N. Capitol Street, NW., Room 1018, Washington, VerDate Aug<31>2005 15:16 Oct 02, 2007 * 12/17/06 Jkt 214001 * 10/03/07 [Insert citation of publication]. * DC 20573–0001. (202) 523–5740, e-mail: generalcounsel@fmc.gov. SUPPLEMENTARY INFORMATION: The Commission published a Notice of Proposed Rulemaking (‘‘NPRM’’) on July 25, 2007, in the Federal Register, 72 FR 40813–14, to amend its regulations at 46 CFR 515.25(a) to require an applicant for an OTI license to provide valid proof of financial responsibility within 120 days of approval of its application, prior to issuance of a license by the Commission’s Bureau of Certification and Licensing. The current regulation allows an applicant two years from the date of approval in which to furnish proof of financial responsibility, failing which the application will be considered invalid by the Commission. The Commission proposed this change for two reasons. First, if applicants illegally provide OTI services in the two years following approval but before procurement of financial responsibility, the statutory goal of protecting the shipping public is frustrated. Second, applicants’ inability or unwillingness to procure financial responsibility may indicate questionable financial integrity, a key factor in establishing an applicant’s fitness to perform OTI activities. BCL staff analysis shows that the majority of new applicants obtain surety bonds within 120 days or less. Therefore, reducing the time for providing proof of valid financial responsibility to 120 days is unlikely to burden OTI applicants. The Commission received two comments to its NPRM. The Transportation Intermediaries Association (‘‘TIA’’), whose members include OTIs, supports the Commission’s proposal to reduce the amount of time from two years to 120 days. TIA states that its member companies are put at a competitive disadvantage when other OTIs do not comply with laws or regulations. The National Industrial Transportation League (‘‘NITL’’) also provided comments in support of the NPRM. NITL’s members include OTIs and PO 00000 Frm 00032 Fmt 4700 Sfmt 4700 * * * * * entities that use the services of OTIs. Both TIA and NITL believe that reducing the time for OTI applicants to provide proof of responsibility prior to offering OTI services will better protect the shipping public. OTI applicants whose applications were approved prior to the effective date of the Final Rule will continue to have two years from approval in which to furnish proof of financial responsibility. If no proof is furnished within this period, the OTI application would be considered invalid, thereby requiring the filing of a new application. Any new application will be subject to the 120day period for filing evidence of financial responsibility. In addition, the Commission amends 46 CFR 515.25(a) by deleting reference to supplementary investigations for the determination of an applicant’s continued qualification, if more than six months elapse between approval of the application and an applicant’s submission of financial responsibility to the Commission. The supplementary investigations will become unnecessary due to the reduction of time the applicant is permitted to obtain financial responsibility. Removal of the option of supplementary investigation from 46 CFR 515.25(a) likewise necessitates removing paragraph 515.5(b)(3), since the collection of fees for supplementary investigations will no longer be applicable. This rule is not a ‘‘major rule’’ under 5 U.S.C. 804(2) and therefore is not subject to review by the Office of Management and Budget’s Office of Information and Regulatory Affairs. In accordance with the Regulatory Flexibility Act, 5 U.S.C. 601 et seq., the Federal Maritime Commission has certified to the Chief Counsel for Advocacy, Small Business Administration, that the rule will not have a significant impact on a substantial number of small entities. The rule directly applies to the licensing requirements of OTIs, which are regulated persons (or businesses) under the Commission’s jurisdiction and E:\FR\FM\03OCR1.SGM 03OCR1 Federal Register / Vol. 72, No. 191 / Wednesday, October 3, 2007 / Rules and Regulations which qualify as small entities under the guidelines of the Small Business Administration. The rule will decrease the amount of time an applicant has to file the requisite proof of financial responsibility upon approval of applicant’s license application, from two years to 120 days. The modifications in the rule will simplify the OTI licensing application process and increase administrative efficiency, while further serving to safeguard the shipping public from unlicensed operators. The rule imposes no new or additional cost burden on persons applying for an OTI license, nor will it have a harmful effect on the general public, the U.S. economy, or any of the regulated entities under the jurisdiction of the Commission. In its NPRM, the Commission stated its intention to certify this rulemaking. No comments from interested parties contested the Commission’s certification. Thus, the rule is hereby certified. The rule contains no additional information collection or recordkeeping requirements. Therefore, the requirements of the Paperwork Reduction Act, 44 U.S.C. 3501 et seq., do not apply. List of Subjects in 46 CFR Part 515 Common carriers, Exports, Nonvessel-operating common carriers, Ocean transportation intermediaries, Financial responsibility requirements, Reporting and recordkeeping requirements, Surety bonds. I Accordingly, the Federal Maritime Commission amends 46 CFR part 515 as follows: PART 515—LICENSING, FINANCIAL RESPONSIBILITY REQUIREMENTS, AND GENERAL DUTIES FOR OCEAN TRANSPORTATION INTERMEDIARIES National Oceanic and Atmospheric Administration groundfish in the BSAI (72 FR 9451, March 2, 2007). In accordance with § 679.21(e)(7)(v), the Administrator, Alaska Region, NMFS, has determined that the 2007 halibut bycatch allowance specified for the trawl Pacific cod fishery category in the BSAI has been caught. Consequently, NMFS is closing directed fishing for Pacific cod by vessels using trawl gear in the BSAI. After the effective date of this closure the maximum retainable amounts at § 679.20(e) and (f) apply at any time during a trip. 50 CFR Part 679 Classification [Docket No. 070213033–7033–01] This action responds to the best available information recently obtained from the fishery. The Assistant Administrator for Fisheries, NOAA (AA), finds good cause to waive the requirement to provide prior notice and opportunity for public comment pursuant to the authority set forth at 5 U.S.C. 553(b)(B) as such requirement is impracticable and contrary to the public interest. This requirement is impracticable and contrary to the public interest as it would prevent NMFS from responding to the most recent fisheries data in a timely fashion and would delay the closure of directed fishing for Pacific cod by vessels using trawl gear in the BSAI. NMFS was unable to publish a notice providing time for public comment because the most recent, relevant data only became available as of September 27, 2007. The AA also finds good cause to waive the 30-day delay in the effective date of this action under 5 U.S.C. 553(d)(3). This finding is based upon the reasons provided above for waiver of prior notice and opportunity for public comment. This action is required by § 679.21 and is exempt from review under Executive Order 12866. responsibility within 120 days of notification, the Commission will consider the application to be invalid. * * * * * By the Commission. Bryant L. VanBrakle, Secretary. [FR Doc. E7–19464 Filed 10–2–07; 8:45 am] BILLING CODE 6730–01–P DEPARTMENT OF COMMERCE RIN 0648–XD08 Fisheries of the Exclusive Economic Zone Off Alaska; Pacific Cod by Vessels Using Trawl Gear in Bering Sea and Aleutian Islands Management Area National Marine Fisheries Service (NMFS), National Oceanic and Atmospheric Administration (NOAA), Commerce. ACTION: Temporary rule; closure. AGENCY: SUMMARY: NMFS is closing directed fishing for Pacific cod by vessels using trawl gear in the Bering Sea and Aleutian Islands management area (BSAI). This action is necessary to prevent exceeding the 2007 halibut bycatch allowance specified for the trawl Pacific cod fishery category in the BSAI. DATES: Effective 1200 hrs, Alaska local time (A.l.t.), September 29, 2007, through 2400 hrs, A.l.t., December 31, 2007. I 1. The authority citation for part 515 is revised to read as follows: FOR FURTHER INFORMATION CONTACT: Authority: 5 U.S.C. 553; 31 U.S.C. 9701; 46 U.S.C. app. 1702, 1707, 1709, 1710, 1712, 1714, 1716, and 1718 (recodified October 2006 as 46 U.S.C. 305, 40102, 40104, 40501– 40503, 40901–40904, 41101–41106, 41107– 41109, 41301–41302, 41305–41307, 42101, and 42301–42307); Pub. L. 105–383, 112 Stat. 3411; 21 U.S.C. 862. SUPPLEMENTARY INFORMATION: § 515.5 [Amended] 2. In Sec. 515.5, remove paragraph (b)(3). I 3. Amend Sec. 515.25(a) by removing the fourth sentence and revising the last sentence to read as follows: ebenthall on PRODPC61 with RULES I § 515.25 Filing of proof of financial responsibility. (a) * * * Should the applicant not file the requisite proof of financial VerDate Aug<31>2005 15:16 Oct 02, 2007 Jkt 214001 56273 Jennifer Hogan, 907–586–7228. NMFS manages the groundfish fishery in the BSAI according to the Fishery Management Plan for Groundfish of the Bering Sea and Aleutian Islands Management Area (FMP) prepared by the North Pacific Fishery Management Council under authority of the Magnuson-Stevens Fishery Conservation and Management Act. Regulations governing fishing by U.S. vessels in accordance with the FMP appear at subpart H of 50 CFR part 600 and 50 CFR part 679. The 2007 halibut bycatch allowance specified for the trawl Pacific cod fishery category in the BSAI is 1,334 metric tons as established by the 2007 and 2008 final harvest specifications for PO 00000 Frm 00033 Fmt 4700 Sfmt 4700 Authority: 16 U.S.C. 1801 et seq. Dated: September 27, 2007. Emily H. Menashes Acting Director, Office of Sustainable Fisheries, National Marine Fisheries Service. [FR Doc. 07–4894 Filed 9–28–07; 2:30 pm] BILLING CODE 3510–22–S E:\FR\FM\03OCR1.SGM 03OCR1

Agencies

[Federal Register Volume 72, Number 191 (Wednesday, October 3, 2007)]
[Rules and Regulations]
[Pages 56272-56273]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-19464]


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FEDERAL MARITIME COMMISSION

46 CFR Part 515

[Docket No. 07-06]
RIN 3072-AC33


Amendment to Regulations Governing the Filing of Proof of 
Financial Responsibility

September 27, 2007.
AGENCY: Federal Maritime Commission.

ACTION: Final Rule.

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SUMMARY: The Federal Maritime Commission (``FMC'' or ``Commission'') 
amends its regulations governing proof of financial responsibility for 
ocean transportation intermediaries (``OTIs'') required to be filed 
prior to commencement of OTI services. The amendment reduces the amount 
of time an applicant has to file the requisite proof of financial 
responsibility from two years to 120 days, after approval of the 
applicant's license application. Upon expiration of the 120-day time 
period, if valid proof of financial responsibility has not been 
provided by the applicant, its OTI application will be considered 
invalid. Applications approved prior to the effective date of this 
Final Rule will continue to be subject to the two-year time period to 
submit valid proof of financial responsibility.

DATES: Effective November 5, 2007.

FOR FURTHER INFORMATION CONTACT: Sandra L. Kusumoto, Director, Bureau 
of Certification and Licensing, Federal Maritime Commission, 800 N. 
Capitol Street, NW., Room 970, Washington, DC 20573-0001.(202) 523-
5787, e-mail: skusumoto@fmc.gov.
    Amy W. Larson, General Counsel, Office of the General Counsel, 
Federal Maritime Commission, 800 N. Capitol Street, NW., Room 1018, 
Washington, DC 20573-0001. (202) 523-5740, e-mail: 
generalcounsel@fmc.gov.

SUPPLEMENTARY INFORMATION: The Commission published a Notice of 
Proposed Rulemaking (``NPRM'') on July 25, 2007, in the Federal 
Register, 72 FR 40813-14, to amend its regulations at 46 CFR 515.25(a) 
to require an applicant for an OTI license to provide valid proof of 
financial responsibility within 120 days of approval of its 
application, prior to issuance of a license by the Commission's Bureau 
of Certification and Licensing. The current regulation allows an 
applicant two years from the date of approval in which to furnish proof 
of financial responsibility, failing which the application will be 
considered invalid by the Commission.
    The Commission proposed this change for two reasons. First, if 
applicants illegally provide OTI services in the two years following 
approval but before procurement of financial responsibility, the 
statutory goal of protecting the shipping public is frustrated. Second, 
applicants' inability or unwillingness to procure financial 
responsibility may indicate questionable financial integrity, a key 
factor in establishing an applicant's fitness to perform OTI 
activities.
    BCL staff analysis shows that the majority of new applicants obtain 
surety bonds within 120 days or less. Therefore, reducing the time for 
providing proof of valid financial responsibility to 120 days is 
unlikely to burden OTI applicants.
    The Commission received two comments to its NPRM. The 
Transportation Intermediaries Association (``TIA''), whose members 
include OTIs, supports the Commission's proposal to reduce the amount 
of time from two years to 120 days. TIA states that its member 
companies are put at a competitive disadvantage when other OTIs do not 
comply with laws or regulations. The National Industrial Transportation 
League (``NITL'') also provided comments in support of the NPRM. NITL's 
members include OTIs and entities that use the services of OTIs. Both 
TIA and NITL believe that reducing the time for OTI applicants to 
provide proof of responsibility prior to offering OTI services will 
better protect the shipping public.
    OTI applicants whose applications were approved prior to the 
effective date of the Final Rule will continue to have two years from 
approval in which to furnish proof of financial responsibility. If no 
proof is furnished within this period, the OTI application would be 
considered invalid, thereby requiring the filing of a new application. 
Any new application will be subject to the 120-day period for filing 
evidence of financial responsibility.
    In addition, the Commission amends 46 CFR 515.25(a) by deleting 
reference to supplementary investigations for the determination of an 
applicant's continued qualification, if more than six months elapse 
between approval of the application and an applicant's submission of 
financial responsibility to the Commission. The supplementary 
investigations will become unnecessary due to the reduction of time the 
applicant is permitted to obtain financial responsibility. Removal of 
the option of supplementary investigation from 46 CFR 515.25(a) 
likewise necessitates removing paragraph 515.5(b)(3), since the 
collection of fees for supplementary investigations will no longer be 
applicable.
    This rule is not a ``major rule'' under 5 U.S.C. 804(2) and 
therefore is not subject to review by the Office of Management and 
Budget's Office of Information and Regulatory Affairs.
    In accordance with the Regulatory Flexibility Act, 5 U.S.C. 601 et 
seq., the Federal Maritime Commission has certified to the Chief 
Counsel for Advocacy, Small Business Administration, that the rule will 
not have a significant impact on a substantial number of small 
entities. The rule directly applies to the licensing requirements of 
OTIs, which are regulated persons (or businesses) under the 
Commission's jurisdiction and

[[Page 56273]]

which qualify as small entities under the guidelines of the Small 
Business Administration. The rule will decrease the amount of time an 
applicant has to file the requisite proof of financial responsibility 
upon approval of applicant's license application, from two years to 120 
days. The modifications in the rule will simplify the OTI licensing 
application process and increase administrative efficiency, while 
further serving to safeguard the shipping public from unlicensed 
operators. The rule imposes no new or additional cost burden on persons 
applying for an OTI license, nor will it have a harmful effect on the 
general public, the U.S. economy, or any of the regulated entities 
under the jurisdiction of the Commission. In its NPRM, the Commission 
stated its intention to certify this rulemaking. No comments from 
interested parties contested the Commission's certification. Thus, the 
rule is hereby certified.
    The rule contains no additional information collection or 
recordkeeping requirements. Therefore, the requirements of the 
Paperwork Reduction Act, 44 U.S.C. 3501 et seq., do not apply.

List of Subjects in 46 CFR Part 515

    Common carriers, Exports, Non-vessel-operating common carriers, 
Ocean transportation intermediaries, Financial responsibility 
requirements, Reporting and recordkeeping requirements, Surety bonds.

0
Accordingly, the Federal Maritime Commission amends 46 CFR part 515 as 
follows:

PART 515--LICENSING, FINANCIAL RESPONSIBILITY REQUIREMENTS, AND 
GENERAL DUTIES FOR OCEAN TRANSPORTATION INTERMEDIARIES

0
1. The authority citation for part 515 is revised to read as follows:

    Authority: 5 U.S.C. 553; 31 U.S.C. 9701; 46 U.S.C. app. 1702, 
1707, 1709, 1710, 1712, 1714, 1716, and 1718 (recodified October 
2006 as 46 U.S.C. 305, 40102, 40104, 40501-40503, 40901-40904, 
41101-41106, 41107-41109, 41301-41302, 41305-41307, 42101, and 
42301-42307); Pub. L. 105-383, 112 Stat. 3411; 21 U.S.C. 862.


Sec.  515.5  [Amended]

0
2. In Sec. 515.5, remove paragraph (b)(3).

0
3. Amend Sec. 515.25(a) by removing the fourth sentence and revising 
the last sentence to read as follows:


Sec.  515.25  Filing of proof of financial responsibility.

    (a) * * * Should the applicant not file the requisite proof of 
financial responsibility within 120 days of notification, the 
Commission will consider the application to be invalid.
* * * * *

    By the Commission.
Bryant L. VanBrakle,
Secretary.
[FR Doc. E7-19464 Filed 10-2-07; 8:45 am]
BILLING CODE 6730-01-P