Airworthiness Directives; EADS SOCATA Model TBM 700 Airplanes, 26318-26321 [E8-10066]
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Federal Register / Vol. 73, No. 91 / Friday, May 9, 2008 / Rules and Regulations
§ 39.13
that is likely to exist or develop on
products identified in this rulemaking
action.
[Amended]
2. Section 39.13 is amended by adding
a new airworthiness directive to read as
follows:
I
List of Subjects in 14 CFR Part 39
Air transportation, Aircraft, Aviation
safety, Incorporation by reference,
Safety.
Adoption of the Amendment
Accordingly, pursuant to the authority
delegated to me by the Administrator,
the Federal Aviation Administration
amends part 39 of the Federal Aviation
Regulations (14 CFR part 39) as follows:
I
PART 39—AIRWORTHINESS
DIRECTIVES
1. The authority citation for part 39
continues to read as follows:
I
Authority: 49 U.S.C. 106(g), 40113, 44701.
2007–26–52 Agusta S.p.A.: Amendment 39–
15519. Docket No. FAA–2008–0524;
Directorate Identifier 2007–SW–77–AD.
Supersedes AD 2001–24–07 R1,
Amendment 39–13687, Docket No.
2001–SW–15–AD.
Applicability: Model A109C, A109E, and
A109K2 helicopters, with a main rotor blade
(MRB), Part Number (P/N) 709–0103–01–all
dash numbers, certificated in any category.
Compliance: Required as indicated.
(a) For a MRB with a serial number that has
a prefix of either ‘‘EM–’’ or ‘‘A5–’’, except a
MRB with a tip cap, P/N 709–0103–29–109,
installed, within 10 hours time-in-service
(TIS), unless accomplished previously, and
thereafter at intervals not to exceed 25 hours
TIS:
(1) Tap inspect the upper and lower sides
of each tip cap for bonding separation
between the metal shells and the honeycomb
core using a steel tap hammer, P/N 109–
3101–58–1, or a coin (quarter) in the area
indicated as honeycomb core on Figure 1 of
Alert Bollettino Tecnico (BT) No. 109–106,
No. 109K–22, or No. 109EP–1, all Revision B,
and all dated December 19, 2000, as
applicable to your model helicopter. Also,
tap inspect for bonding separation in the tip
cap to blade bond area (no bonding voids are
permitted in this area).
(2) Visually inspect the upper and lower
sides of each blade tip cap for swelling or
deformation.
(3) Dye-penetrant inspect the tip cap
leading edge along the welded joint line of
the upper and lower tip cap skin shells for
a crack in accordance with the Compliance
Instructions, steps 3. through 3.2.6., of the
applicable BT.
(4) If any swelling, deformation, crack, or
bonding separation that exceeds the
prescribed limits in the applicable
maintenance manual is found, replace the
blade with an airworthy blade before further
flight.
(b) For a MRB with a tip cap, P/N 709–
0103–29–109, installed, perform the
following in accordance with Table 1:
TABLE 1
For each tip cap:
Comply:
With 600 or more hours TIS ....................................................
Within the next 5 hours TIS or 30 days, whichever occurs first, and thereafter at
intervals not to exceed 50 hours TIS.
Before reaching 600 hours TIS, and thereafter, at intervals not to exceed 50
hours TIS.
rwilkins on PROD1PC63 with RULES
With less than 600 hours TIS ..................................................
(1) Using a 10x or higher power magnifying
glass, visually inspect the tip cap leading
edge welded bead (joint line between the two
metallic shells) for a crack in accordance
with the Compliance Instructions, steps 1.
through 2. of BT No. 109–125, No. 109EP–85,
or No. 109K–48, all dated December 13, 2007,
as applicable to your model helicopter.
(2) If there is damage other than a crack,
inspect the tip cap leading edge along the
welded joint line of the shells for a crack
using a dye penetrant method in accordance
with the Compliance Instructions, steps 3.
through 3.7. of BT No. 109–125, No. 109EP–
85, or No. 109K–48, all dated December 13,
2007, as applicable to your model helicopter.
(3) If a crack is present, remove the blade
and replace it with an airworthy blade before
further flight.
(c) To request a different method of
compliance or a different compliance time
for this AD, follow the procedures in 14 CFR
39.19. Contact the Manager, Safety
Management Group, FAA, ATTN: Sharon
Miles, Rotorcraft Directorate, Fort Worth,
Texas 76193–0111, telephone (817) 222–
5122, fax (817) 222–5961, for information
about previously approved alternative
methods of compliance.
(d) The inspections shall be done in
accordance with the specified portions of the
service information described in paragraphs
(d)(1) and (d)(2) of this AD.
(1) The Director of the Federal Register
approved the incorporation by reference of
Agusta Bollettino Tecnico No. 109–125, No.
109EP–85, and No. 109K–48, all dated
VerDate Aug<31>2005
15:48 May 08, 2008
Jkt 214001
December 13, 2007, in accordance with 5
U.S.C. 552(a) and 1 CFR part 51.
(2) The Director of the Federal Register
previously approved the incorporation by
reference of Agusta Alert Bollettino Tecnico
No. 109–106, No. 109K–22, and No. 109EP–
1, all Revision B and all dated December 19,
2000, on January 7, 2002 (66 FR 60144,
December 3, 2001).
(3) Copies may be obtained from Agusta,
21017 Cascina Costa di Samarate (VA) Italy,
Via Giovanni Agusta 520, telephone 39
(0331) 229111, fax 39 (0331) 229605–222595.
(4) Copies may be inspected at the FAA,
Office of the Regional Counsel, Southwest
Region, 2601 Meacham Blvd., Room 663, Fort
Worth, Texas or at the National Archives and
Records Administration (NARA). For
information on the availability of this
material at NARA, call 202–741–6030, or go
to: https://www.archives.gov/federal_register/
code_of_federal_regulations/ibr_
locations.html.
Note: The subject of this AD is addressed
in European Aviation Safety Agency (EASA)
AD No. 2007–0306–E, dated December 14,
2007.
(e) This amendment becomes effective on
May 27, 2008, to all persons except those
persons to whom it was made immediately
effective by Emergency AD 2007–26–52,
issued December 20, 2007, which contained
the requirements of this amendment.
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Issued in Fort Worth, Texas, on May 1,
2008.
Mark R. Schilling,
Acting Manager, Rotorcraft Directorate,
Aircraft Certification Service.
[FR Doc. E8–10054 Filed 5–8–08; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2008–0527; Directorate
Identifier 2008–CE–027–AD; Amendment
39–15520; AD 2008–10–13]
RIN 2120–AA64
Airworthiness Directives; EADS
SOCATA Model TBM 700 Airplanes
Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule; request for
comments.
AGENCY:
SUMMARY: We are adopting a new
airworthiness directive (AD) for the
products listed above. This AD results
from mandatory continuing
airworthiness information (MCAI)
issued by the aviation authority of
another country to identify and correct
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09MYR1
Federal Register / Vol. 73, No. 91 / Friday, May 9, 2008 / Rules and Regulations
an unsafe condition on an aviation
product. The MCAI describes the unsafe
condition as:
(referred to after this as ‘‘the MCAI’’), to
correct an unsafe condition for the
specified products. The MCAI states:
A rupture of the alternator and vapour
cycle cooling system pulley drive assembly
has reportedly been found. Such a failure
could lead to the loss of the alternator and
vapour cycle cooling systems and could also
cause mechanical damage inside the
powerplant compartment.
A rupture of the alternator and vapour
cycle cooling system pulley drive assembly
has reportedly been found. Such a failure
could lead to the loss of the alternator and
vapour cycle cooling systems and could also
cause mechanical damage inside the
powerplant compartment.
To address this condition, AD 2008–0063–
E had been published to require a check of
the pulley drive assembly for leakage and, as
an interim action, removal of the compressor
drive belt from the assembly, and adoption
of a new operational procedure to keep the
air-conditioning system deactivated.
This AD retains the requirements of AD
2008–0063–E which is superseded,
introduces a mandatory terminating action
which consists in replacing the original
pulley drive assembly by a new one of an
improved design—corresponding to the
EADS SOCATA modification MOD 70–0231–
21—that permits reinstallation of the
compressor drive belt.
This AD requires actions that are
intended to address the unsafe
condition described in the MCAI.
DATES: This AD becomes effective May
29, 2008.
On May 29, 2008, the Director of the
Federal Register approved the
incorporation by reference of certain
publications listed in this AD.
We must receive comments on this
AD by June 9, 2008.
ADDRESSES: You may send comments by
any of the following methods:
• Federal eRulemaking Portal: Go to
https://www.regulations.gov. Follow the
instructions for submitting comments.
• Fax: (202) 493–2251.
• Mail: U.S. Department of
Transportation, Docket Operations, M–
30, West Building Ground Floor, Room
W12–140, 1200 New Jersey Avenue, SE.,
Washington, DC 20590.
• Hand Delivery: U.S. Department of
Transportation, Docket Operations, M–
30, West Building Ground Floor, Room
W12–140, 1200 New Jersey Avenue, SE.,
Washington, DC 20590, between 9 a.m.
and 5 p.m., Monday through Friday,
except Federal holidays.
Examining the AD Docket
You may examine the AD docket on
the Internet at https://
www.regulations.gov; or in person at the
Docket Management Facility between 9
a.m. and 5 p.m., Monday through
Friday, except Federal holidays. The AD
docket contains this AD, the regulatory
evaluation, any comments received, and
other information. The street address for
the Docket Office (telephone (800) 647–
5527) is in the ADDRESSES section.
Comments will be available in the AD
docket shortly after receipt.
FOR FURTHER INFORMATION CONTACT:
Albert Mercado, Aerospace Engineer,
FAA, Small Airplane Directorate, 901
Locust, Room 301, Kansas City,
Missouri 64106; telephone: (816) 329–
4119; fax: (816) 329–4090.
rwilkins on PROD1PC63 with RULES
SUPPLEMENTARY INFORMATION:
Discussion
The European Aviation Safety Agency
(EASA), which is the Technical Agent
for the Member States of the European
Community, has issued EASA AD No.:
2008–0067–E, dated April 3, 2008
VerDate Aug<31>2005
15:48 May 08, 2008
Jkt 214001
The MCAI requires you to deactivate the
air conditioning system, inspect the
pulley drive assembly for leaks, and
replace the pulley drive assembly if
leaks are found.
You may obtain further information
by examining the MCAI in the AD
docket.
Relevant Service Information
EADS SOCATA has issued Mandatory
Service Bulletin SB 70–156,
Amendment 1, dated March 2008. The
actions described in this service
information are intended to correct the
unsafe condition identified in the
MCAI.
FAA’s Determination and Requirements
of the AD
This product has been approved by
the aviation authority of another
country, and is approved for operation
in the United States. Pursuant to our
bilateral agreement with this State of
Design Authority, they have notified us
of the unsafe condition described in the
MCAI and service information
referenced above. We are issuing this
AD because we evaluated all
information provided by the State of
Design Authority and determined the
unsafe condition exists and is likely to
exist or develop on other products of the
same type design.
The MCAI and the service
information require replacement of the
pulley drive assembly part number
(P/N) T700G215504900000 with the
new P/N T700G215505710000 and
reinstallation of the compressor drive
belt by no later than March 31, 2009.
This AD is considered an interim action
because we are only mandating this
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26319
replacement if a leak is found. The
Administrative Procedure Act does not
permit the FAA to ‘‘bootstrap’’ a longterm requirement into an urgent safety
of flight action where the rule becomes
effective at the same time the public has
the opportunity to comment. The shortterm action and the long-term action are
analyzed separately for justification to
bypass prior public notice.
After issuing this AD, we may initiate
further AD action (notice of proposed
rulemaking followed by a final rule) to
require such a terminating action.
Differences Between This AD and the
MCAI or Service Information
We have reviewed the MCAI and
related service information and, in
general, agree with their substance. But
we might have found it necessary to use
different words from those in the MCAI
to ensure the AD is clear for U.S.
operators and is enforceable. In making
these changes, we do not intend to differ
substantively from the information
provided in the MCAI and related
service information.
We might have also required different
actions in this AD from those in the
MCAI in order to follow FAA policies.
Any such differences are described in a
separate paragraph of the AD. These
requirements take precedence over
those copied from the MCAI.
FAA’s Determination of the Effective
Date
An unsafe condition exists that
requires the immediate adoption of this
AD. The FAA has found that the risk to
the flying public justifies waiving notice
and comment prior to adoption of this
rule because a rupture of the alternator
and vapour cycle cooling system pulley
drive assembly has been reported. Such
a failure could lead to the loss of the
alternator and vapor cycle cooling
systems and could cause mechanical
damage inside the powerplant
compartment.
Therefore, we determined that notice
and opportunity for public comment
before issuing this AD are impracticable
and that good cause exists for making
this amendment effective in fewer than
30 days.
Comments Invited
This AD is a final rule that involves
requirements affecting flight safety, and
we did not precede it by notice and
opportunity for public comment. We
invite you to send any written relevant
data, views, or arguments about this AD.
Send your comments to an address
listed under the ADDRESSES section.
Include ‘‘Docket No. FAA–2008–0527;
Directorate Identifier 2008–CE–027–
E:\FR\FM\09MYR1.SGM
09MYR1
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Federal Register / Vol. 73, No. 91 / Friday, May 9, 2008 / Rules and Regulations
AD’’ at the beginning of your comments.
We specifically invite comments on the
overall regulatory, economic,
environmental, and energy aspects of
this AD. We will consider all comments
received by the closing date and may
amend this AD because of those
comments.
We will post all comments we
receive, without change, to https://
www.regulations.gov, including any
personal information you provide. We
will also post a report summarizing each
substantive verbal contact we receive
about this AD.
Authority for This Rulemaking
Title 49 of the United States Code
specifies the FAA’s authority to issue
rules on aviation safety. Subtitle I,
section 106, describes the authority of
the FAA Administrator. ‘‘Subtitle VII:
Aviation Programs,’’ describes in more
detail the scope of the Agency’s
authority.
We are issuing this rulemaking under
the authority described in ‘‘Subtitle VII,
Part A, Subpart III, Section 44701:
General requirements.’’ Under that
section, Congress charges the FAA with
promoting safe flight of civil aircraft in
air commerce by prescribing regulations
for practices, methods, and procedures
the Administrator finds necessary for
safety in air commerce. This regulation
is within the scope of that authority
because it addresses an unsafe condition
that is likely to exist or develop on
products identified in this rulemaking
action.
rwilkins on PROD1PC63 with RULES
Regulatory Findings
We determined that this AD will not
have federalism implications under
Executive Order 13132. This AD will
not have a substantial direct effect on
the States, on the relationship between
the national government and the States,
or on the distribution of power and
responsibilities among the various
levels of government.
For the reasons discussed above, I
certify that this AD:
(1) Is not a ‘‘significant regulatory
action’’ under Executive Order 12866;
(2) Is not a ‘‘significant rule’’ under
DOT Regulatory Policies and Procedures
(44 FR 11034, February 26, 1979); and
(3) Will not have a significant
economic impact, positive or negative,
on a substantial number of small entities
under the criteria of the Regulatory
Flexibility Act.
We prepared a regulatory evaluation
of the estimated costs to comply with
this AD and placed it in the AD docket.
VerDate Aug<31>2005
15:48 May 08, 2008
Jkt 214001
List of Subjects in 14 CFR Part 39
Air transportation, Aircraft, Aviation
safety, Incorporation by reference,
Safety.
Adoption of the Amendment
Accordingly, under the authority
delegated to me by the Administrator,
the FAA amends 14 CFR part 39 as
follows:
I
PART 39—AIRWORTHINESS
DIRECTIVES
1. The authority citation for part 39
continues to read as follows:
I
Authority: 49 U.S.C. 106(g), 40113, 44701.
§ 39.13
[Amended]
2. The FAA amends § 39.13 by adding
the following new AD:
I
2008–10–13 EADS SOCATA: Amendment
39–15520; Docket No. FAA–2008–0527;
Directorate Identifier 2008–CE–027–AD.
Effective Date
(a) This airworthiness directive (AD)
becomes effective May 29, 2008.
Affected ADs
(b) None.
Actions and Compliance
(f) Unless already done, before further
flight after May 29, 2008 (the effective date
of this AD), do the following actions:
(1) Position to ‘‘OFF’’ the air-conditioning
‘‘AIR COND’’ switch.
(2) Check for oil leakage in the pulley drive
assembly by following EADS SOCATA
Service Bulletin (SB) No. 70–156
Amendment 1, dated March 2008.
(3) If any leak is found, before further
flight, replace the pulley drive assembly part
number (P/N) T700G215504900000 with P/N
T700G215505710000 following EADS
SOCATA Service Bulletin (SB) No. 70–156
Amendment 1, dated March 2008.
(4) If no leak is found, before further flight,
remove the compressor drive belt from the
pulley drive assembly following either EADS
SOCATA Service Bulletin (SB) No. 70–156,
original issue; or EADS SOCATA Service
Bulletin (SB) No. 70–156, Amendment 1;
both dated March 2008.
(5) The air-conditioning ‘‘AIR COND’’
switch must be in the ‘‘OFF’’ position and
the compressor drive belt must remain
removed until the pulley drive assembly part
number (P/N) T700G215504900000 is
replaced with P/N T700G215505710000
following EADS SOCATA Service Bulletin
(SB) No. 70–156 Amendment 1, dated March
2008. This replacement must be done before
further flight if any leak is found and may be
done at any time as terminating action to this
AD.
Applicability
FAA AD Differences
(c) This AD applies to Models TBM 700
airplanes, serial numbers 434 through 455,
certificated in any category.
Note: This AD differs from the MCAI and/
or service information as follows:
(1) The MCAI and the service information
require replacement of the pulley drive
assembly part number (P/N)
T700G215504900000 with the improved
design P/N T700G215505710000 and
reinstallation of the compressor drive belt by
no later than March 31, 2009.
(2) This AD is considered an interim action
because we are only mandating this
replacement if a leak is found. The
Administrative Procedure Act does not
permit the FAA to ‘‘bootstrap’’ a long-term
requirement into an urgent safety of flight
action where the rule becomes effective at the
same time the public has the opportunity to
comment. The short-term action and the
long-term action are analyzed separately for
justification to bypass prior public notice.
(3) After issuing this AD, we may initiate
further AD action (notice of proposed
rulemaking followed by a final rule) to
require the replacement of the pulley drive
assembly part number (P/N)
T700G215504900000 with the new P/N
T700G215505710000, and reinstallation of
the compressor drive belt as a terminating
action. Appropriate credit would be given for
the initial actions done under this AD.
Subject
(d) Air Transport Association of America
(ATA) Code 24: Electric Power.
Reason
(e) The mandatory continuing
airworthiness information (MCAI) states:
A rupture of the alternator and vapour
cycle cooling system pulley drive assembly
has reportedly been found. Such a failure
could lead to the loss of the alternator and
vapour cycle cooling systems and could also
cause mechanical damage inside the
powerplant compartment.
To address this condition, AD 2008–0063–
E had been published to require a check of
the pulley drive assembly for leakage and, as
an interim action, removal of the compressor
drive belt from the assembly, and adoption
of a new operational procedure to keep the
air-conditioning system deactivated.
This AD retains the requirements of AD
2008–0063–E which is superseded,
introduces a mandatory terminating action
which consists in replacing the original
pulley drive assembly by a new one of an
improved design—corresponding to the
EADS SOCATA modification MOD 70–0231–
21—that permits reinstallation of the
compressor drive belt.
The MCAI requires you to deactivate the air
conditioning system, inspect the pulley drive
assembly for leaks, and replace the pulley
drive assembly if leaks are found.
PO 00000
Frm 00008
Fmt 4700
Sfmt 4700
Other FAA AD Provisions
(g) The following provisions also apply to
this AD:
(1) Alternative Methods of Compliance
(AMOCs): The Manager, Standards Office,
FAA, has the authority to approve AMOCs
for this AD, if requested using the procedures
found in 14 CFR 39.19. Send information to
E:\FR\FM\09MYR1.SGM
09MYR1
Federal Register / Vol. 73, No. 91 / Friday, May 9, 2008 / Rules and Regulations
ATTN: Albert Mercado, Aerospace Engineer,
FAA, Small Airplane Directorate, 901 Locust,
Room 301, Kansas City, Missouri 64106;
telephone: (816) 329–4119; fax: (816) 329–
4090. Before using any approved AMOC on
any airplane to which the AMOC applies,
notify your appropriate principal inspector
(PI) in the FAA Flight Standards District
Office (FSDO), or lacking a PI, your local
FSDO.
(2) Airworthy Product: For any requirement
in this AD to obtain corrective actions from
a manufacturer or other source, use these
actions if they are FAA-approved. Corrective
actions are considered FAA-approved if they
are approved by the State of Design Authority
(or their delegated agent). You are required
to assure the product is airworthy before it
is returned to service.
(3) Reporting Requirements: For any
reporting requirement in this AD, under the
provisions of the Paperwork Reduction Act
(44 U.S.C. 3501 et seq.), the Office of
Management and Budget (OMB) has
approved the information collection
requirements and has assigned OMB Control
Number 2120–0056.
Special Flight Permit
(h) Under 14 CFR 39.23, we are limiting
the special flight permits for this AD under
the following condition: The air-conditioning
‘‘AIR–COND’’ switch is set to the ‘‘OFF’’
position.
Related Information
(i) Refer to MCAI European Aviation Safety
Agency (EASA) Emergency AD No.: 2008–
0067–E, dated April 3, 2008, and EADS
SOCATA Service Bulletin (SB) No. 70–156,
Amendment 1, dated March 2008, for related
information.
rwilkins on PROD1PC63 with RULES
Material Incorporated by Reference
(j) You must use EADS SOCATA Service
Bulletin (SB) No. 70–156, original issue; or
EADS SOCATA Service Bulletin (SB) No. 70–
156, Amendment 1, both dated March 2008,
to do the actions required by this AD, unless
the AD specifies otherwise.
(1) The Director of the Federal Register
approved the incorporation by reference of
this service information under 5 U.S.C.
552(a) and 1 CFR part 51.
(2) For service information identified in
this AD, contact EADS SOCATA—Direction
des Services, 65921 Tarbes Cedex 9, France;
telephone: +33 (0)5 62 41 73 00; fax: +33 (0)5
62 41 7–54; or in the United States contact
EADS SOCATA North America, Inc., North
Perry Airport, 7501 South Airport Road.,
Pembroke Pines, Florida 33023; telephone:
(954) 893–1400; fax: (954) 964–4141.
(3) You may review copies at the FAA,
Central Region, Office of the Regional
Counsel, 901 Locust, Room 506, Kansas City,
Missouri 64106; or at the National Archives
and Records Administration (NARA). For
information on the availability of this
material at NARA, call 202–741–6030, or go
to: https://www.archives.gov/federal-register/
cfr/ibr-locations.html.
VerDate Aug<31>2005
15:48 May 08, 2008
Jkt 214001
Issued in Kansas City, Missouri, on April
30, 2008.
Patrick R. Mullen,
Acting Manager, Small Airplane Directorate,
Aircraft Certification Service.
[FR Doc. E8–10066 Filed 5–8–08; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9397]
RIN 1545–BH95
Assumption of Liabilities
Internal Revenue Service (IRS),
Treasury.
ACTION: Final regulations and removal of
temporary regulations.
AGENCY:
SUMMARY: This document contains final
regulations relating to the assumption of
liabilities under section 358(h) of the
Internal Revenue Code (Code). Section
358(h) provides that, after application of
section 358(d), the basis in stock
received in a nonrecognition transaction
shall be reduced to the fair market value
of the stock by the amount of any
liability assumed in the exchange. The
Treasury Department and the IRS have
determined that removing an exception
to section 358(h) is necessary to prevent
abuse. These regulations affect
corporations and their shareholders.
DATES: Effective Date: These regulations
are effective on May 9, 2008.
Applicability Date: For dates of
applicability, see §§ 1.358–5(a) and (b).
FOR FURTHER INFORMATION CONTACT:
Robert M. Rhyne (202) 622–7550 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
This document contains amendments
to 26 CFR part 1 under section 358(h)
of the Code. As part of the Consolidated
Appropriations Act of 2001 (Pub. L.
106–554, 114 Stat. 2763), Congress
enacted, on December 21, 2000, section
358(h), applicable to assumptions of
liability after October 18, 1999, to
address certain transactions in which
property is transferred to a corporation
in exchange for both stock and the
corporation’s assumption of certain
obligations of the transferor. In these
transactions, transferors took the
position that the obligations were not
liabilities within the meaning of section
357(c) or that they were described in
section 357(c)(3), and, therefore, the
obligations did not reduce the basis of
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26321
the stock received by transferor. These
assumed obligations, however, did
reduce the value of the stock. The
transferors then sold the stock and
claimed a loss. In this way, taxpayers
attempted to duplicate a loss in
corporate stock and to accelerate
deductions that typically are allowed
only on the economic performance of
these types of obligations.
Section 358(h)(1) addresses these
transactions by requiring that, after
application of section 358(d), the basis
in stock received in an exchange to
which section 351, 354, 355, 356, or 361
applies be reduced (but not below the
fair market value of the stock) by the
amount of any liability assumed in the
exchange. Section 358(h)(2) provides
exceptions to section 358(h)(1) where:
(A) The trade or business with which
the liability is associated is transferred
to the person assuming the liability as
part of the exchange; or (B) substantially
all of the assets with which the liability
is associated are transferred to the
person assuming the liability as part of
the exchange (the ‘‘Asset Exception’’).
The Secretary, however, has the
authority to limit these exceptions.
Section 358(h)(3) provides that the term
‘‘liability’’ for purposes of section 358(h)
includes any fixed or contingent
obligation to make payment without
regard to whether the obligation is
otherwise taken into account for
purposes of the Code.
On May 26, 2005, temporary
regulations (TD 9207) were published in
the Federal Register (70 FR 30334)
making unavailable the exception of
section 358(h)(2)(B), the Asset
Exception. A notice of proposed
rulemaking (REG–106736–00) crossreferencing those temporary regulations
was published in the Federal Register
(71 FR 30380) on the same day.
The IRS and the Treasury Department
received no comments responding to the
proposed and temporary regulations. No
public hearing was requested or held.
The IRS and the Treasury Department
have determined that making the
exception of section 358(h)(2)(B)
unavailable is necessary to prevent
abuse; therefore, this document contains
final regulations adopting the provisions
of the proposed regulations with no
change and the corresponding
temporary regulations are removed.
Special Analyses
It has been determined that this
Treasury decision is not a significant
regulatory action as defined in
Executive Order 12866. Therefore, a
regulatory assessment is not required.
Pursuant to 5 U.S.C. 553(d)(3) it has
been determined that a delayed effective
E:\FR\FM\09MYR1.SGM
09MYR1
]]>Agencies
[Federal Register Volume 73, Number 91 (Friday, May 9, 2008)]
[Rules and Regulations]
[Pages 26318-26321]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-10066]
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DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA-2008-0527; Directorate Identifier 2008-CE-027-AD;
Amendment 39-15520; AD 2008-10-13]
RIN 2120-AA64
Airworthiness Directives; EADS SOCATA Model TBM 700 Airplanes
AGENCY: Federal Aviation Administration (FAA), DOT.
ACTION: Final rule; request for comments.
-----------------------------------------------------------------------
SUMMARY: We are adopting a new airworthiness directive (AD) for the
products listed above. This AD results from mandatory continuing
airworthiness information (MCAI) issued by the aviation authority of
another country to identify and correct
[[Page 26319]]
an unsafe condition on an aviation product. The MCAI describes the
unsafe condition as:
A rupture of the alternator and vapour cycle cooling system
pulley drive assembly has reportedly been found. Such a failure
could lead to the loss of the alternator and vapour cycle cooling
systems and could also cause mechanical damage inside the powerplant
compartment.
This AD requires actions that are intended to address the unsafe
condition described in the MCAI.
DATES: This AD becomes effective May 29, 2008.
On May 29, 2008, the Director of the Federal Register approved the
incorporation by reference of certain publications listed in this AD.
We must receive comments on this AD by June 9, 2008.
ADDRESSES: You may send comments by any of the following methods:
Federal eRulemaking Portal: Go to https://
www.regulations.gov. Follow the instructions for submitting comments.
Fax: (202) 493-2251.
Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue, SE., Washington, DC 20590.
Hand Delivery: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue, SE., Washington, DC 20590, between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays.
Examining the AD Docket
You may examine the AD docket on the Internet at https://
www.regulations.gov; or in person at the Docket Management Facility
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains this AD, the regulatory evaluation,
any comments received, and other information. The street address for
the Docket Office (telephone (800) 647-5527) is in the ADDRESSES
section. Comments will be available in the AD docket shortly after
receipt.
FOR FURTHER INFORMATION CONTACT: Albert Mercado, Aerospace Engineer,
FAA, Small Airplane Directorate, 901 Locust, Room 301, Kansas City,
Missouri 64106; telephone: (816) 329-4119; fax: (816) 329-4090.
SUPPLEMENTARY INFORMATION:
Discussion
The European Aviation Safety Agency (EASA), which is the Technical
Agent for the Member States of the European Community, has issued EASA
AD No.: 2008-0067-E, dated April 3, 2008 (referred to after this as
``the MCAI''), to correct an unsafe condition for the specified
products. The MCAI states:
A rupture of the alternator and vapour cycle cooling system
pulley drive assembly has reportedly been found. Such a failure
could lead to the loss of the alternator and vapour cycle cooling
systems and could also cause mechanical damage inside the powerplant
compartment.
To address this condition, AD 2008-0063-E had been published to
require a check of the pulley drive assembly for leakage and, as an
interim action, removal of the compressor drive belt from the
assembly, and adoption of a new operational procedure to keep the
air-conditioning system deactivated.
This AD retains the requirements of AD 2008-0063-E which is
superseded, introduces a mandatory terminating action which consists
in replacing the original pulley drive assembly by a new one of an
improved design--corresponding to the EADS SOCATA modification MOD
70-0231-21--that permits reinstallation of the compressor drive
belt.
The MCAI requires you to deactivate the air conditioning system,
inspect the pulley drive assembly for leaks, and replace the pulley
drive assembly if leaks are found.
You may obtain further information by examining the MCAI in the AD
docket.
Relevant Service Information
EADS SOCATA has issued Mandatory Service Bulletin SB 70-156,
Amendment 1, dated March 2008. The actions described in this service
information are intended to correct the unsafe condition identified in
the MCAI.
FAA's Determination and Requirements of the AD
This product has been approved by the aviation authority of another
country, and is approved for operation in the United States. Pursuant
to our bilateral agreement with this State of Design Authority, they
have notified us of the unsafe condition described in the MCAI and
service information referenced above. We are issuing this AD because we
evaluated all information provided by the State of Design Authority and
determined the unsafe condition exists and is likely to exist or
develop on other products of the same type design.
The MCAI and the service information require replacement of the
pulley drive assembly part number (P/N) T700G215504900000 with the new
P/N T700G215505710000 and reinstallation of the compressor drive belt
by no later than March 31, 2009. This AD is considered an interim
action because we are only mandating this replacement if a leak is
found. The Administrative Procedure Act does not permit the FAA to
``bootstrap'' a long-term requirement into an urgent safety of flight
action where the rule becomes effective at the same time the public has
the opportunity to comment. The short-term action and the long-term
action are analyzed separately for justification to bypass prior public
notice.
After issuing this AD, we may initiate further AD action (notice of
proposed rulemaking followed by a final rule) to require such a
terminating action.
Differences Between This AD and the MCAI or Service Information
We have reviewed the MCAI and related service information and, in
general, agree with their substance. But we might have found it
necessary to use different words from those in the MCAI to ensure the
AD is clear for U.S. operators and is enforceable. In making these
changes, we do not intend to differ substantively from the information
provided in the MCAI and related service information.
We might have also required different actions in this AD from those
in the MCAI in order to follow FAA policies. Any such differences are
described in a separate paragraph of the AD. These requirements take
precedence over those copied from the MCAI.
FAA's Determination of the Effective Date
An unsafe condition exists that requires the immediate adoption of
this AD. The FAA has found that the risk to the flying public justifies
waiving notice and comment prior to adoption of this rule because a
rupture of the alternator and vapour cycle cooling system pulley drive
assembly has been reported. Such a failure could lead to the loss of
the alternator and vapor cycle cooling systems and could cause
mechanical damage inside the powerplant compartment.
Therefore, we determined that notice and opportunity for public
comment before issuing this AD are impracticable and that good cause
exists for making this amendment effective in fewer than 30 days.
Comments Invited
This AD is a final rule that involves requirements affecting flight
safety, and we did not precede it by notice and opportunity for public
comment. We invite you to send any written relevant data, views, or
arguments about this AD. Send your comments to an address listed under
the ADDRESSES section. Include ``Docket No. FAA-2008-0527; Directorate
Identifier 2008-CE-027-
[[Page 26320]]
AD'' at the beginning of your comments. We specifically invite comments
on the overall regulatory, economic, environmental, and energy aspects
of this AD. We will consider all comments received by the closing date
and may amend this AD because of those comments.
We will post all comments we receive, without change, to https://
www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact we
receive about this AD.
Authority for This Rulemaking
Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. ``Subtitle VII: Aviation
Programs,'' describes in more detail the scope of the Agency's
authority.
We are issuing this rulemaking under the authority described in
``Subtitle VII, Part A, Subpart III, Section 44701: General
requirements.'' Under that section, Congress charges the FAA with
promoting safe flight of civil aircraft in air commerce by prescribing
regulations for practices, methods, and procedures the Administrator
finds necessary for safety in air commerce. This regulation is within
the scope of that authority because it addresses an unsafe condition
that is likely to exist or develop on products identified in this
rulemaking action.
Regulatory Findings
We determined that this AD will not have federalism implications
under Executive Order 13132. This AD will not have a substantial direct
effect on the States, on the relationship between the national
government and the States, or on the distribution of power and
responsibilities among the various levels of government.
For the reasons discussed above, I certify that this AD:
(1) Is not a ``significant regulatory action'' under Executive
Order 12866;
(2) Is not a ``significant rule'' under DOT Regulatory Policies and
Procedures (44 FR 11034, February 26, 1979); and
(3) Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.
We prepared a regulatory evaluation of the estimated costs to
comply with this AD and placed it in the AD docket.
List of Subjects in 14 CFR Part 39
Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.
Adoption of the Amendment
0
Accordingly, under the authority delegated to me by the Administrator,
the FAA amends 14 CFR part 39 as follows:
PART 39--AIRWORTHINESS DIRECTIVES
0
1. The authority citation for part 39 continues to read as follows:
Authority: 49 U.S.C. 106(g), 40113, 44701.
Sec. 39.13 [Amended]
0
2. The FAA amends Sec. 39.13 by adding the following new AD:
2008-10-13 EADS SOCATA: Amendment 39-15520; Docket No. FAA-2008-
0527; Directorate Identifier 2008-CE-027-AD.
Effective Date
(a) This airworthiness directive (AD) becomes effective May 29,
2008.
Affected ADs
(b) None.
Applicability
(c) This AD applies to Models TBM 700 airplanes, serial numbers
434 through 455, certificated in any category.
Subject
(d) Air Transport Association of America (ATA) Code 24: Electric
Power.
Reason
(e) The mandatory continuing airworthiness information (MCAI)
states:
A rupture of the alternator and vapour cycle cooling system
pulley drive assembly has reportedly been found. Such a failure
could lead to the loss of the alternator and vapour cycle cooling
systems and could also cause mechanical damage inside the powerplant
compartment.
To address this condition, AD 2008-0063-E had been published to
require a check of the pulley drive assembly for leakage and, as an
interim action, removal of the compressor drive belt from the
assembly, and adoption of a new operational procedure to keep the
air-conditioning system deactivated.
This AD retains the requirements of AD 2008-0063-E which is
superseded, introduces a mandatory terminating action which consists
in replacing the original pulley drive assembly by a new one of an
improved design--corresponding to the EADS SOCATA modification MOD
70-0231-21--that permits reinstallation of the compressor drive
belt.
The MCAI requires you to deactivate the air conditioning system,
inspect the pulley drive assembly for leaks, and replace the pulley
drive assembly if leaks are found.
Actions and Compliance
(f) Unless already done, before further flight after May 29,
2008 (the effective date of this AD), do the following actions:
(1) Position to ``OFF'' the air-conditioning ``AIR COND''
switch.
(2) Check for oil leakage in the pulley drive assembly by
following EADS SOCATA Service Bulletin (SB) No. 70-156 Amendment 1,
dated March 2008.
(3) If any leak is found, before further flight, replace the
pulley drive assembly part number (P/N) T700G215504900000 with P/N
T700G215505710000 following EADS SOCATA Service Bulletin (SB) No.
70-156 Amendment 1, dated March 2008.
(4) If no leak is found, before further flight, remove the
compressor drive belt from the pulley drive assembly following
either EADS SOCATA Service Bulletin (SB) No. 70-156, original issue;
or EADS SOCATA Service Bulletin (SB) No. 70-156, Amendment 1; both
dated March 2008.
(5) The air-conditioning ``AIR COND'' switch must be in the
``OFF'' position and the compressor drive belt must remain removed
until the pulley drive assembly part number (P/N) T700G215504900000
is replaced with P/N T700G215505710000 following EADS SOCATA Service
Bulletin (SB) No. 70-156 Amendment 1, dated March 2008. This
replacement must be done before further flight if any leak is found
and may be done at any time as terminating action to this AD.
FAA AD Differences
Note: This AD differs from the MCAI and/or service information
as follows:
(1) The MCAI and the service information require replacement of
the pulley drive assembly part number (P/N) T700G215504900000 with
the improved design P/N T700G215505710000 and reinstallation of the
compressor drive belt by no later than March 31, 2009.
(2) This AD is considered an interim action because we are only
mandating this replacement if a leak is found. The Administrative
Procedure Act does not permit the FAA to ``bootstrap'' a long-term
requirement into an urgent safety of flight action where the rule
becomes effective at the same time the public has the opportunity to
comment. The short-term action and the long-term action are analyzed
separately for justification to bypass prior public notice.
(3) After issuing this AD, we may initiate further AD action
(notice of proposed rulemaking followed by a final rule) to require
the replacement of the pulley drive assembly part number (P/N)
T700G215504900000 with the new P/N T700G215505710000, and
reinstallation of the compressor drive belt as a terminating action.
Appropriate credit would be given for the initial actions done under
this AD.
Other FAA AD Provisions
(g) The following provisions also apply to this AD:
(1) Alternative Methods of Compliance (AMOCs): The Manager,
Standards Office, FAA, has the authority to approve AMOCs for this
AD, if requested using the procedures found in 14 CFR 39.19. Send
information to
[[Page 26321]]
ATTN: Albert Mercado, Aerospace Engineer, FAA, Small Airplane
Directorate, 901 Locust, Room 301, Kansas City, Missouri 64106;
telephone: (816) 329-4119; fax: (816) 329-4090. Before using any
approved AMOC on any airplane to which the AMOC applies, notify your
appropriate principal inspector (PI) in the FAA Flight Standards
District Office (FSDO), or lacking a PI, your local FSDO.
(2) Airworthy Product: For any requirement in this AD to obtain
corrective actions from a manufacturer or other source, use these
actions if they are FAA-approved. Corrective actions are considered
FAA-approved if they are approved by the State of Design Authority
(or their delegated agent). You are required to assure the product
is airworthy before it is returned to service.
(3) Reporting Requirements: For any reporting requirement in
this AD, under the provisions of the Paperwork Reduction Act (44
U.S.C. 3501 et seq.), the Office of Management and Budget (OMB) has
approved the information collection requirements and has assigned
OMB Control Number 2120-0056.
Special Flight Permit
(h) Under 14 CFR 39.23, we are limiting the special flight
permits for this AD under the following condition: The air-
conditioning ``AIR-COND'' switch is set to the ``OFF'' position.
Related Information
(i) Refer to MCAI European Aviation Safety Agency (EASA)
Emergency AD No.: 2008-0067-E, dated April 3, 2008, and EADS SOCATA
Service Bulletin (SB) No. 70-156, Amendment 1, dated March 2008, for
related information.
Material Incorporated by Reference
(j) You must use EADS SOCATA Service Bulletin (SB) No. 70-156,
original issue; or EADS SOCATA Service Bulletin (SB) No. 70-156,
Amendment 1, both dated March 2008, to do the actions required by
this AD, unless the AD specifies otherwise.
(1) The Director of the Federal Register approved the
incorporation by reference of this service information under 5
U.S.C. 552(a) and 1 CFR part 51.
(2) For service information identified in this AD, contact EADS
SOCATA--Direction des Services, 65921 Tarbes Cedex 9, France;
telephone: +33 (0)5 62 41 73 00; fax: +33 (0)5 62 41 7-54; or in the
United States contact EADS SOCATA North America, Inc., North Perry
Airport, 7501 South Airport Road., Pembroke Pines, Florida 33023;
telephone: (954) 893-1400; fax: (954) 964-4141.
(3) You may review copies at the FAA, Central Region, Office of
the Regional Counsel, 901 Locust, Room 506, Kansas City, Missouri
64106; or at the National Archives and Records Administration
(NARA). For information on the availability of this material at
NARA, call 202-741-6030, or go to: https://www.archives.gov/federal-
register/cfr/ibr-locations.html.
Issued in Kansas City, Missouri, on April 30, 2008.
Patrick R. Mullen,
Acting Manager, Small Airplane Directorate, Aircraft Certification
Service.
[FR Doc. E8-10066 Filed 5-8-08; 8:45 am]
BILLING CODE 4910-13-P
