Prohibited Service at Savings and Loan Holding Companies Extension of Expiration Date of Temporary Exemption, 10985-10986 [08-887]
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Federal Register / Vol. 73, No. 41 / Friday, February 29, 2008 / Rules and Regulations
addressed to: U.S. Department of
Energy, Attention: Office of Electricity
and Energy Assurance, OE–30, Forrestal
Building, 1000 Independence Avenue,
SW., Washington, DC 20585.
(DPAS) regulation (15 CFR part 700) in
obtaining materials (including equipment),
services, or facilities needed to fill this
contract.
[End of Clause]
Chapter 9 of Title 48
[FR Doc. E8–3773 Filed 2–28–08; 8:45 am]
10. The authority citation for parts
911 and 952 is revised to read as
follows:
BILLING CODE 6450–01–P
I
Authority: 42 U.S.C. 2201; 2282a; 2282b;
2282c; 42 U.S.C. 7101 et seq.; 41 U.S.C. 418b;
50 U.S.C. 2401 et seq.
Office of Thrift Supervision
12 CFR Part 585
PART 911—DESCRIBING AGENCY
NEEDS
911.600
DEPARTMENT OF THE TREASURY
[OTS–2007–0008]
RIN 1550–AC14
[Amended]
11. Section 911.600 is amended by
removing the words ‘‘and those energy
programs which maximize domestic
energy supplies’’.
Prohibited Service at Savings and
Loan Holding Companies Extension of
Expiration Date of Temporary
Exemption
911.602
AGENCY:
I
[Amended]
Office of Thrift Supervision
(OTS) Treasury.
ACTION: Final rule.
12. Section 911.602 is amended by
removing paragraph (d).
I
911.604
[Amended]
13. Section 911.604 is amended by
removing paragraphs (d) and (e).
I
PART 952—SOLICITATION
PROVISIONS AND CONTRACT
CLAUSES
14. Section 952.211–70 is revised to
read as follows:
I
952.211–70 Priorities and allocations for
energy programs (solicitations).
As prescribed in 911.604(a), insert the
following provision in solicitations that
will result in the award of a contract in
support of DOE atomic energy programs.
Priorities and Allocations (Atomic Energy)
(APR 2008)
Contracts or purchase orders awarded as a
result of this solicitation shall be assigned a
[ ] DO-Rating; [ ] DX Rating; and certified
for national defense use in accordance with
the Defense Priorities and Allocations System
(DPAS) regulation (15 CFR part 700)
(Contracting officer check appropriate box.)
[End of Clause]
15. Section 952.211–71 is revised to
read as follows:
I
rfrederick on PROD1PC67 with RULES
952.211–71 Priorities and allocations for
energy programs (contracts).
As prescribed in 911.604(b), insert the
following clause in contracts and
purchase orders that are placed in
support of authorized DOE atomic
energy programs pursuant to the Atomic
Energy Act of 1954, as amended.
Priorities and Allocations (Atomic Energy)
(APR 2008)
The Contractor shall follow the provisions
of Defense Priorities and Allocations System
VerDate Aug<31>2005
15:40 Feb 28, 2008
Jkt 214001
SUMMARY: OTS is revising its rules
implementing section 19(e) of the
Federal Deposit Insurance Act (FDIA),
which prohibits any person who has
been convicted of any criminal offense
involving dishonesty, breach of trust, or
money laundering (or who has agreed to
enter into a pretrial diversion or similar
program in connection with a
prosecution for such an offense) from
holding certain positions with respect to
a savings and loan holding company
(SLHC). Specifically, OTS is extending
the expiration date of a temporary
exemption granted to persons who held
positions with respect to a SLHC as of
the date of the enactment of section
19(e). The revised expiration date for
the temporary exemption is June 1,
2008.
Effective Date: The final rule is
effective on February 29, 2008.
FOR FURTHER INFORMATION CONTACT:
Donna Deale, Director, Holding
Companies and Affiliates, Supervision
Policy, (202) 906–7488, or Karen
Osterloh, Special Counsel, Regulations
and Legislation, (202) 906–6639, Office
of Thrift Supervision, 1700 G Street,
NW., Washington, DC 20552.
SUPPLEMENTARY INFORMATION: On May 8,
2007, OTS published an interim final
rule adding 12 CFR part 585. This new
part implemented section 19(e) of the
FDIA, which prohibits any person who
has been convicted of any criminal
offense involving dishonesty, breach of
trust, or money laundering (or who has
agreed to enter into a pretrial diversion
or similar program in connection with a
prosecution for such an offense) from
DATES:
PO 00000
Frm 00015
Fmt 4700
Sfmt 4700
10985
holding certain positions with a SLHC.
Section 19(e) also authorizes the
Director of OTS to provide exemptions
from the prohibitions, by regulation or
order, if the exemption is consistent
with the purposes of the statute.
The interim final rule described the
actions that are prohibited under the
statute and prescribed procedures for
applying for an OTS order granting a
case-by-case exemption from the
prohibition. The rule also provided
regulatory exemptions to the
prohibitions, including a temporary
exemption for persons who held
positions with respect to a SLHC on
October 13, 2006, the date of enactment
of section 19(e). This temporary
exemption is set to expire on March 1,
2008, unless a case-by-case exemption is
filed prior to that expiration date.1
OTS is extending the expiration date
of the temporary exemption to June 1,
2008. This extension will avoid
needless disruptions of SLHC
operations while OTS reviews the
public comments and develops a final
rule addressing these comments. OTS
has concluded that this extension of the
exemption of the exemption is
consistent with the purposes of section
19(3) of the FDIA.
Regulatory Findings
Notice and Comment and Effective Date
For the reasons set out in the interim
final rule,2 OTS has concluded that:
notice and comment on this extension
are unnecessary and contrary to the
public interest under section 552(b)(B)
of the Administrative Procedure Act;
there is good cause for making the
extension effective immediately under
section 553(d) of the APA; and the
delayed effective date requirements of
section 302 of the Riegle Community
Development and Regulatory
Improvement Act of 1994 (CDRIA) do
not apply.
Regulatory Flexibility Act
For the reasons stated in the interim
final rule,3 OTS has concluded that this
extension does not require an initial
regulatory flexibility analysis under the
Regulatory Flexibility Act (RFA) (5
U.S.C. 601 et seq.), and that this
extension should not have a significant
impact on a substantial number of small
entities, as defined in the RFA.
1 This temporary exemption originally was
scheduled to expire on September 5, 2007. OTS
extended the expiration date to March 1, 2008. 72
FR 50644 (Sept. 4, 2008).
2 72 FR at 25953.
3 72 FR at 25953–54.
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29FER1
10986
Federal Register / Vol. 73, No. 41 / Friday, February 29, 2008 / Rules and Regulations
Paperwork Reduction Act
OTS has determined that this
extension does not involve a change to
collections of information previously
approved under the Paperwork
Reduction Act (44 U.S.C. 3501 et seq.)
Unfunded Mandates Act of 1995
For the reasons stated in the interim
final rule,4 OTS has determined that
this extension will not result in
expenditures by state, local, and tribal
governments, in the aggregate, or by the
private sector, of more than $100
million of any one year.
Executive Order 12866
OTS has determined that this
extension is not a significant regulatory
action under Executive Order 12866.
Plain Language
Section 722 of the Gramm-LeachBliley Act (12 U.S.C. 4308) requires the
Agencies to use ‘‘plain language’’ in all
final rules published after January 1,
2000. OTS believes that the final rule
containing the extension is presented in
a clear and straightforward manner.
List of Subjects in 12 CFR Part 585
Administrative practice and
procedure, Holding companies,
Reporting and recordkeeping
requirements, Savings associations.
Authority and Issuance
For the reasons in the preamble, OTS
is amending part 585 of chapter V of
title 12 of the Code of Federal
Regulations as set forth below:
I
PART 585—PROHIBITED SERVICE AT
SAVINGS AND LOAN HOLDING
COMPANIES
1. The authority citation for 12 CFR
part 585 continues to read as follows:
I
Authority: 12 U.S.C. 1462, 1462a, 1463,
1464, 1467a, and 1829(e).
2. Amend § 585.100(b)(2) introductory
text to read as follows:
I
§ 585.100 Who is exempt from the
prohibition under this part?
rfrederick on PROD1PC67 with RULES
*
*
*
*
*
(b) Temporary exemption. * * *
(2) This exemption expires on June 1,
2008, unless the savings and loan
holding company or the person files an
application seeking a case-by-case
exemption for the person under
§ 585.110 by that date. If the savings and
loan holding company or the person
files such an application, the temporary
exemption expires on:
*
*
*
*
*
4 72
FR 25954.
VerDate Aug<31>2005
15:40 Feb 28, 2008
Jkt 214001
Dated: February 25, 2008.
By the Office of Thrift Supervision.
John M. Reich,
Director.
[FR Doc. 08–887 Filed 2–28–08; 8:45 am]
BILLING CODE 6720–01–M
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Chapter I
Office of the Secretary
14 CFR Chapter II
[Docket DOT–OST–2008–0063]
Provision of Entire Aircraft With Crew
to a U.S. Certificated Air Carrier by a
Foreign Air Carrier
Department of Transportation,
Office of the Secretary; Department of
Transportation, Federal Aviation
Administration.
ACTION: Regulatory guidance.
AGENCY:
SUMMARY: This Notice sets forth the
conditions under which a foreign air
carrier may make an arrangement with
a U.S. air carrier for a flight or series of
flights, to be conducted with the foreign
air carrier’s aircraft and crew, for that
U.S. certificated air carrier’s-authorized
services in foreign air transportation.
This Notice also describes the regulatory
steps involved for seeking Department
approval for such an operation.
FOR FURTHER INFORMATION CONTACT:
Richard Clarke, Federal Aviation
Administration, Air Carrier Operations
Branch, AFS–220, (202) 493–5581, or
George Wellington, Department of
Transportation, Office of International
Aviation, X–40, (202) 366–2391.
SUPPLEMENTARY INFORMATION:
Discussion: The Office of the Secretary
of Transportation (OST) and the
Department’s Federal Aviation
Administration (FAA) have identified
the circumstances under which a
foreign air carrier may provide a U.S.
certificated air carrier with an entire
aircraft with crew without contravening
the FAA’s regulations that generally
prohibit a foreign air carrier from wet
leasing aircraft (i.e., providing legal
possession of a specific aircraft (in its
entirety) and at least one crewmember)
to a U.S. certificated air carrier. Such
transactions may occur, consistent with
FAA and OST regulations,1 where it is
1 See 14 CFR 121.153(c), § 135.25(d), § 119.53(b),
and § 212.4(b)(1) and § 212.9(b)(2). The cited
sections of the FAA’s regulations (parts 121, 135
and 119) generally prohibit a foreign air carrier from
PO 00000
Frm 00016
Fmt 4700
Sfmt 4700
clear that (i) operational control of the
flight or flights involved would rest
solely with the foreign air carrier and
not with the U.S. certificated air carrier;
(ii) legal and actual possession of the
aircraft at all times would remain with
the foreign air carrier; and (iii) OST
determines, in conjunction with FAA,
that such operations would otherwise be
in the public interest, as more fully
described below. Under those
circumstances, the FAA has
determined 2 that such transactions are
not leases subject to the foreign wet
lease prohibition in § 119.53(b),
regardless of whether the parties to the
transaction characterize the arrangement
as a wet lease.
To conduct an operation in this
manner, the foreign air carrier involved
would need to apply to the Department
for a statement of authorization under
14 CFR part 212 of the Department’s
regulations. Section 212.9 requires prior
Department approval for operations
involving the provision of aircraft and
crew by a foreign air carrier to another
air carrier where the operations
involved are in a fifth freedom market
for the foreign air carrier, and for any
such operations of 60 days or longer
duration. Section 212.9(d) also provides
that the Department may, at its
discretion and upon at least 30 days’
notice, require a statement of
authorization for these kinds of
operations in other cases (e.g., where
they are for less than 60 days’ duration).
Given our need to make the operational
control and public interest
determinations described above, we
will, in accordance with the provisions
of § 212.9(d), and effective 30 days from
the date of this Notice, require that
foreign air carriers desiring to conduct
the operations described in this Notice
obtain a statement of authorization
before conducting any such services.3
wet leasing aircraft to a U.S. certificated air carrier.
Part 212 of the Department’s Economic Regulations
provides for the wet leasing of aircraft without
regard to the identity of the wet lessor, and do not
explicitly prohibit wet lease operations by a foreign
air carrier on behalf of a U.S. carrier.
2 On May 18, 2004, the Chief Counsel of the FAA
issued an opinion that certain arrangements
characterized as wet leases by the parties to the
transaction were not true leases, because legal and
actual possession of the subject aircraft never
transferred from one party to the other. In addition,
the FAA concluded that, where a foreign air carrier
(identified as the lessor under such arrangements)
retained operational control of the aircraft, the
transaction was not subject to the wet lease
prohibition of § 119.53(b). We have placed a copy
of the FAA opinion in the Docket referenced above,
and have also attached a copy to the service copy
of this Notice.
3 We have in other instances required foreign air
carriers to seek statements of authorization under
§ 212.9(d) for various operations under that rule.
See, for example, Orders 98–4–2 and 91–5–25.
E:\FR\FM\29FER1.SGM
29FER1
]]>Agencies
[Federal Register Volume 73, Number 41 (Friday, February 29, 2008)]
[Rules and Regulations]
[Pages 10985-10986]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 08-887]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Part 585
[OTS-2007-0008]
RIN 1550-AC14
Prohibited Service at Savings and Loan Holding Companies
Extension of Expiration Date of Temporary Exemption
AGENCY: Office of Thrift Supervision (OTS) Treasury.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: OTS is revising its rules implementing section 19(e) of the
Federal Deposit Insurance Act (FDIA), which prohibits any person who
has been convicted of any criminal offense involving dishonesty, breach
of trust, or money laundering (or who has agreed to enter into a
pretrial diversion or similar program in connection with a prosecution
for such an offense) from holding certain positions with respect to a
savings and loan holding company (SLHC). Specifically, OTS is extending
the expiration date of a temporary exemption granted to persons who
held positions with respect to a SLHC as of the date of the enactment
of section 19(e). The revised expiration date for the temporary
exemption is June 1, 2008.
DATES: Effective Date: The final rule is effective on February 29,
2008.
FOR FURTHER INFORMATION CONTACT: Donna Deale, Director, Holding
Companies and Affiliates, Supervision Policy, (202) 906-7488, or Karen
Osterloh, Special Counsel, Regulations and Legislation, (202) 906-6639,
Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
SUPPLEMENTARY INFORMATION: On May 8, 2007, OTS published an interim
final rule adding 12 CFR part 585. This new part implemented section
19(e) of the FDIA, which prohibits any person who has been convicted of
any criminal offense involving dishonesty, breach of trust, or money
laundering (or who has agreed to enter into a pretrial diversion or
similar program in connection with a prosecution for such an offense)
from holding certain positions with a SLHC. Section 19(e) also
authorizes the Director of OTS to provide exemptions from the
prohibitions, by regulation or order, if the exemption is consistent
with the purposes of the statute.
The interim final rule described the actions that are prohibited
under the statute and prescribed procedures for applying for an OTS
order granting a case-by-case exemption from the prohibition. The rule
also provided regulatory exemptions to the prohibitions, including a
temporary exemption for persons who held positions with respect to a
SLHC on October 13, 2006, the date of enactment of section 19(e). This
temporary exemption is set to expire on March 1, 2008, unless a case-
by-case exemption is filed prior to that expiration date.\1\
---------------------------------------------------------------------------
\1\ This temporary exemption originally was scheduled to expire
on September 5, 2007. OTS extended the expiration date to March 1,
2008. 72 FR 50644 (Sept. 4, 2008).
---------------------------------------------------------------------------
OTS is extending the expiration date of the temporary exemption to
June 1, 2008. This extension will avoid needless disruptions of SLHC
operations while OTS reviews the public comments and develops a final
rule addressing these comments. OTS has concluded that this extension
of the exemption of the exemption is consistent with the purposes of
section 19(3) of the FDIA.
Regulatory Findings
Notice and Comment and Effective Date
For the reasons set out in the interim final rule,\2\ OTS has
concluded that: notice and comment on this extension are unnecessary
and contrary to the public interest under section 552(b)(B) of the
Administrative Procedure Act; there is good cause for making the
extension effective immediately under section 553(d) of the APA; and
the delayed effective date requirements of section 302 of the Riegle
Community Development and Regulatory Improvement Act of 1994 (CDRIA) do
not apply.
---------------------------------------------------------------------------
\2\ 72 FR at 25953.
---------------------------------------------------------------------------
Regulatory Flexibility Act
For the reasons stated in the interim final rule,\3\ OTS has
concluded that this extension does not require an initial regulatory
flexibility analysis under the Regulatory Flexibility Act (RFA) (5
U.S.C. 601 et seq.), and that this extension should not have a
significant impact on a substantial number of small entities, as
defined in the RFA.
---------------------------------------------------------------------------
\3\ 72 FR at 25953-54.
---------------------------------------------------------------------------
[[Page 10986]]
Paperwork Reduction Act
OTS has determined that this extension does not involve a change to
collections of information previously approved under the Paperwork
Reduction Act (44 U.S.C. 3501 et seq.)
Unfunded Mandates Act of 1995
For the reasons stated in the interim final rule,\4\ OTS has
determined that this extension will not result in expenditures by
state, local, and tribal governments, in the aggregate, or by the
private sector, of more than $100 million of any one year.
---------------------------------------------------------------------------
\4\ 72 FR 25954.
---------------------------------------------------------------------------
Executive Order 12866
OTS has determined that this extension is not a significant
regulatory action under Executive Order 12866.
Plain Language
Section 722 of the Gramm-Leach-Bliley Act (12 U.S.C. 4308)
requires the Agencies to use ``plain language'' in all final rules
published after January 1, 2000. OTS believes that the final rule
containing the extension is presented in a clear and straightforward
manner.
List of Subjects in 12 CFR Part 585
Administrative practice and procedure, Holding companies, Reporting
and recordkeeping requirements, Savings associations.
Authority and Issuance
0
For the reasons in the preamble, OTS is amending part 585 of chapter V
of title 12 of the Code of Federal Regulations as set forth below:
PART 585--PROHIBITED SERVICE AT SAVINGS AND LOAN HOLDING COMPANIES
0
1. The authority citation for 12 CFR part 585 continues to read as
follows:
Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, and
1829(e).
0
2. Amend Sec. 585.100(b)(2) introductory text to read as follows:
Sec. 585.100 Who is exempt from the prohibition under this part?
* * * * *
(b) Temporary exemption. * * *
(2) This exemption expires on June 1, 2008, unless the savings and
loan holding company or the person files an application seeking a case-
by-case exemption for the person under Sec. 585.110 by that date. If
the savings and loan holding company or the person files such an
application, the temporary exemption expires on:
* * * * *
Dated: February 25, 2008.
By the Office of Thrift Supervision.
John M. Reich,
Director.
[FR Doc. 08-887 Filed 2-28-08; 8:45 am]
BILLING CODE 6720-01-M
