Amendment to Regulations Governing the Filing of Proof of Financial Responsibility, 56272-56273 [E7-19464]
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Federal Register / Vol. 72, No. 191 / Wednesday, October 3, 2007 / Rules and Regulations
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[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
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12/17/06
Jkt 214001
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10/03/07 [Insert citation of
publication].
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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
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Fmt 4700
Sfmt 4700
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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.
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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
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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.
-----------------------------------------------------------------------
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
