Certification Pursuant to Energy Policy Act of 2005, 37890-37891 [2011-16009]
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37890
Federal Register / Vol. 76, No. 124 / Tuesday, June 28, 2011 / Notices
• Whether use of credit line is
restricted—A bank must inform a
customer if the customer’s activation of
the contract would prohibit the
customer from incurring additional
charges or using the credit line.
• Termination of a DCC or DSA— If
termination is permitted during the life
of the loan, a bank must explain the
circumstances under which a customer
or the bank could terminate the
contract.
• Additional disclosures—A bank
must inform consumers that it will
provide additional information before
the customer is required to pay for the
product.
• Eligibility requirements, conditions,
and exclusions—A bank must describe
any material limitations relating to the
DCC or DSA.
The content of the short and long
form may vary, depending on whether
a bank elects to provide a summary of
the conditions and exclusions in the
long form disclosures or refer the
customer to the pertinent paragraphs in
the contract. The short form requires a
bank to instruct the customer to read
carefully both the long form disclosures
and the contract for a full explanation
of the terms of the contract. The long
form gives a bank the option of either
separately summarizing the limitations
or advising the customer that a complete
explanation of the eligibility
requirements, conditions, and
exclusions is available in the contract
and identifying the paragraphs where a
customer may find that information.
mstockstill on DSK4VPTVN1PROD with NOTICES
Section 37.7
Section 37.7 requires a bank to obtain
a customer’s written affirmative election
to purchase a contract and written
acknowledgment of receipt of the
disclosures required by § 37.6. If the sale
of the contract occurs by telephone, the
customer’s affirmative election to
purchase and acknowledgment of
receipt of the required short form may
be made orally, provided the bank
maintains sufficient documentation to
show that the customer received the
short form disclosures and then
affirmatively elected to purchase the
contract; mails the affirmative written
election and written acknowledgment,
together with the long form disclosures
required by section 37.6, to the
customer within 3 business days after
the telephone solicitation, and
maintains sufficient documentation to
show it made reasonable efforts to
obtain the documents from the
customer; and permits the customer to
cancel the purchase of the contract
without penalty within 30 days after it
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mailed the long form disclosures to the
customer.
If the contract is solicited through
written materials such as mail inserts or
‘‘take one’’ applications and the bank
provides only the short form disclosures
in the written materials, then the bank
shall mail the acknowledgment, together
with the long form disclosures, to the
customer. The bank may not obligate the
customer to pay for the contract until
after the bank has received the
customer’s written acknowledgment of
receipt of disclosures, unless the bank
takes certain steps, maintains certain
documentation, and permits the
customer to cancel the purchase within
30 days after mailing the long form
disclosures to the customer. The
affirmative election and
acknowledgment may also be made
electronically.
Type of Review: Regular.
Affected Public: Businesses or other
for-profit.
Number of Respondents: 1,650.
Total Annual Responses: 1,650.
Frequency of Response: On occasion.
Total Annual Burden Hours: 39,600.
Comments submitted in response to
this notice will be summarized and
included in the request for OMB
approval. All comments will become a
matter of public record. Comments are
invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) The accuracy of the agency’s
estimate of the burden of the collection
of information;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: June 22, 2011.
Michele Meyer,
Assistant Director, Legislative & Regulatory
Activities Division.
[FR Doc. 2011–16061 Filed 6–27–11; 8:45 am]
BILLING CODE 4810–33–P
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DEPARTMENT OF THE TREASURY
Fiscal Service
Certification Pursuant to Energy Policy
Act of 2005
Financial Management Service,
Fiscal Service, Treasury.
ACTION: Notice.
AGENCY:
The Energy Policy Act of 2005
(Pub. L. 109–58) requires the Secretary
of the Treasury to publish a certification
when certain royalties withheld by
lessees amount to a particular sum. This
Notice is to provide the required
certification.
DATES: This notice is effective as of June
28, 2011.
FOR FURTHER INFORMATION CONTACT:
Teresa Dawson, Senior Counsel,
Financial Management Service, 401
14th Street, SW., Washington, DC
20227; telephone (202) 874–7000.
SUPPLEMENTARY INFORMATION: The Oil
Pollution Control Act of 1990, Public
Law 101–380, dated August 18, 1990,
authorized the appropriation of ‘‘such
sums as may be necessary to provide
compensation, including interest, to the
State of Louisiana and its lessees, for net
drainage of oil and gas resources * * *’’
The authorization also included funds
for the payment of interest on this
amount.
Congress established an alternate
means of paying this compensation in
the Energy Policy Act of 2005, Public
Law 109–58, dated August 8, 2005.
Rather than using appropriated funds to
pay compensation to lessees and the
State of Louisiana, section 383 of that
Act provided that a lessee could
withhold 100% of royalty payments due
to the United States if the lessee paid to
the State of Louisiana 44 cents of every
dollar withheld. Any royalty payment
withheld pursuant to that provision of
law would be treated as paid in
satisfaction of the lessee’s royalty
obligations to the United States. Section
383 also charged the Secretary of the
Treasury with (1) determining the
amount of royalty withheld by a lessee,
and (2) publishing a certification when
the total amount of royalty withheld by
the lessee equaled $18,115,147.16 plus
interest at 8% per annum.
To implement the payment provisions
of Section 383, in October 2006 the
Minerals Management Service (MMS) of
the United States Department of the
Interior entered into a Memorandum of
Understanding (MOU) with the State of
Louisiana and the lessee. Pursuant to
that MOU, the lessee would report
monthly to MMS the amount of
royalties due, and would remit a
SUMMARY:
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Federal Register / Vol. 76, No. 124 / Tuesday, June 28, 2011 / Notices
payment of 44% of that total to the State
of Louisiana. After the State of
Louisiana confirmed receipt of that
payment, MMS would offset the royalty
receivable created on its books for
amounts due from the lessee with a
credit for the amount of royalty
withheld. In January 2011, the
Department of the Interior’s Office of
Natural Resources Revenue (ONRR)
advised Treasury that the total amount
due pursuant to Section 383 had been
paid and requested the publication of
the required certification.
Pursuant to the delegation of
authority in Treasury Order 101–05 and
the assignment of duties in Treasury
Directive 27–02, Treasury’s Financial
Management Service (FMS) is
publishing this notice to carry out the
Secretary’s certification obligation
under the Oil Pollution Act of 2005.
FMS has reviewed the schedule of
withheld royalty payments provided by
ONRR. Based on the information
presented in that payment schedule,
FMS is publishing this notice, certifying
that, as of October 1, 2010, the royalties
reported as withheld by the lessee in
accordance with the Energy Policy Act
of 2005 amounted to $18,115,147.16
plus interest at 8% per annum. This
certification is applicable as of October
1, 2010.
of the Treasury Department Circular 570
(‘‘Circular’’), 2010 Revision, to reflect
this change.
With respect to any bonds, including
continuous bonds, currently in force
with above listed Company, bondapproving officers should secure new
bonds with acceptable sureties in those
instances where a significant amount of
liability remains outstanding. In
addition, in no event, should bonds that
are continuous in nature be renewed.
The Circular may be viewed and
downloaded through the Internet at
https://www.fms.treas.gov/c570.
Questions concerning this notice may
be directed to the U.S. Department of
the Treasury, Financial Management
Service, Financial Accounting and
Services Division, Surety Bond Branch,
3700 East-West Highway, Room 6F01,
Hyattsville, MD 20782.
Dated: June 21 2011.
Laura Carrico,
Director, Financial Accounting and Services
Division, Financial Management Service.
[FR Doc. 2011–16008 Filed 6–27–11; 8:45 am]
BILLING CODE 4810–35–M
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Designation of Four Individuals
Pursuant to Executive Order 13224
Dated: June 21, 2011.
David A. Lebryk,
Commissioner.
Office of Foreign Assets
Control, Treasury.
ACTION: Notice.
AGENCY:
[FR Doc. 2011–16009 Filed 6–27–11; 8:45 am]
BILLING CODE 4810–35–M
The Treasury Department’s
Office of Foreign Assets Control
(‘‘OFAC’’) is publishing the names of
four newly-designated individuals
whose property and interests in
property are blocked pursuant to
Executive Order 13224 of September 23,
2001, ‘‘Blocking Property and
Prohibiting Transactions With Persons
Who Commit, Threaten To Commit, or
Support Terrorism.’’
DATES: The designations by the Director
of OFAC of the four individuals
identified in this notice, pursuant to
Executive Order 13224, are effective on
June 21, 2011.
FOR FURTHER INFORMATION CONTACT:
Assistant Director, Compliance
Outreach & Implementation, Office of
Foreign Assets Control, Department of
the Treasury, Washington, DC 20220,
tel.: 202/622–2490.
SUPPLEMENTARY INFORMATION:
SUMMARY:
DEPARTMENT OF THE TREASURY
Fiscal Service
Surety Companies Acceptable on
Federal Bonds; Termination; Western
Insurance Company
Financial Management Service,
Fiscal Service, Department of the
Treasury.
ACTION: Notice.
AGENCY:
This is Supplement No. 13 to
the Treasury Department Circular 570;
2010 Revision, published July 1, 2010,
at 75 FR 38192.
FOR FURTHER INFORMATION CONTACT:
Surety Bond Branch at (202) 874–6850.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that the Certificate of
Authority issued by the Treasury to
Western Insurance Company (NAIC#
10008) under 31 U.S.C. 9305 to qualify
as an acceptable surety on Federal
bonds is terminated effective July 1,
2011. Federal bond-approving officials
should annotate their reference copies
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SUMMARY:
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Electronic and Facsimile Availability
This document and additional
information concerning OFAC are
available from OFAC’s Web site
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37891
(https://www.treas.gov/ofac) or via
facsimile through a 24-hour fax-ondemand service, tel.: 202/622–0077.
Background
On September 23, 2001, the President
issued Executive Order 13224 (the
‘‘Order’’) pursuant to the International
Emergency Economic Powers Act, 50
U.S.C. 1701–1706, and the United
Nations Participation Act of 1945, 22
U.S.C. 287c. In the Order, the President
declared a national emergency to
address grave acts of terrorism and
threats of terrorism committed by
foreign terrorists, including the
September 11, 2001 terrorist attacks in
New York, Pennsylvania, and at the
Pentagon. The Order imposes economic
sanctions on persons who have
committed, pose a significant risk of
committing, or support acts of terrorism.
The President identified in the Annex to
the Order, as amended by Executive
Order 13268 of July 2, 2002, 13
individuals and 16 entities as subject to
the economic sanctions. The Order was
further amended by Executive Order
13284 of January 23, 2003, to reflect the
creation of the Department of Homeland
Security.
Section 1 of the Order blocks, with
certain exceptions, all property and
interests in property that are in or
hereafter come within the United States
or the possession or control of United
States persons, of: (1) Foreign persons
listed in the Annex to the Order; (2)
foreign persons determined by the
Secretary of State, in consultation with
the Secretary of the Treasury, the
Secretary of the Department of
Homeland Security and the Attorney
General, to have committed, or to pose
a significant risk of committing, acts of
terrorism that threaten the security of
U.S. nationals or the national security,
foreign policy, or economy of the United
States; (3) persons determined by the
Director of OFAC, in consultation with
the Departments of State, Homeland
Security and Justice, to be owned or
controlled by, or to act for or on behalf
of those persons listed in the Annex to
the Order or those persons determined
to be subject to subsection 1(b), 1(c), or
1(d)(i) of the Order; and (4) except as
provided in section 5 of the Order and
after such consultation, if any, with
foreign authorities as the Secretary of
State, in consultation with the Secretary
of the Treasury, the Secretary of the
Department of Homeland Security and
the Attorney General, deems
appropriate in the exercise of his
discretion, persons determined by the
Director of OFAC, in consultation with
the Departments of State, Homeland
Security and Justice, to assist in,
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]]>Agencies
[Federal Register Volume 76, Number 124 (Tuesday, June 28, 2011)]
[Notices]
[Pages 37890-37891]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-16009]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Fiscal Service
Certification Pursuant to Energy Policy Act of 2005
AGENCY: Financial Management Service, Fiscal Service, Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Energy Policy Act of 2005 (Pub. L. 109-58) requires the
Secretary of the Treasury to publish a certification when certain
royalties withheld by lessees amount to a particular sum. This Notice
is to provide the required certification.
DATES: This notice is effective as of June 28, 2011.
FOR FURTHER INFORMATION CONTACT: Teresa Dawson, Senior Counsel,
Financial Management Service, 401 14th Street, SW., Washington, DC
20227; telephone (202) 874-7000.
SUPPLEMENTARY INFORMATION: The Oil Pollution Control Act of 1990,
Public Law 101-380, dated August 18, 1990, authorized the appropriation
of ``such sums as may be necessary to provide compensation, including
interest, to the State of Louisiana and its lessees, for net drainage
of oil and gas resources * * *'' The authorization also included funds
for the payment of interest on this amount.
Congress established an alternate means of paying this compensation
in the Energy Policy Act of 2005, Public Law 109-58, dated August 8,
2005. Rather than using appropriated funds to pay compensation to
lessees and the State of Louisiana, section 383 of that Act provided
that a lessee could withhold 100% of royalty payments due to the United
States if the lessee paid to the State of Louisiana 44 cents of every
dollar withheld. Any royalty payment withheld pursuant to that
provision of law would be treated as paid in satisfaction of the
lessee's royalty obligations to the United States. Section 383 also
charged the Secretary of the Treasury with (1) determining the amount
of royalty withheld by a lessee, and (2) publishing a certification
when the total amount of royalty withheld by the lessee equaled
$18,115,147.16 plus interest at 8% per annum.
To implement the payment provisions of Section 383, in October 2006
the Minerals Management Service (MMS) of the United States Department
of the Interior entered into a Memorandum of Understanding (MOU) with
the State of Louisiana and the lessee. Pursuant to that MOU, the lessee
would report monthly to MMS the amount of royalties due, and would
remit a
[[Page 37891]]
payment of 44% of that total to the State of Louisiana. After the State
of Louisiana confirmed receipt of that payment, MMS would offset the
royalty receivable created on its books for amounts due from the lessee
with a credit for the amount of royalty withheld. In January 2011, the
Department of the Interior's Office of Natural Resources Revenue (ONRR)
advised Treasury that the total amount due pursuant to Section 383 had
been paid and requested the publication of the required certification.
Pursuant to the delegation of authority in Treasury Order 101-05
and the assignment of duties in Treasury Directive 27-02, Treasury's
Financial Management Service (FMS) is publishing this notice to carry
out the Secretary's certification obligation under the Oil Pollution
Act of 2005. FMS has reviewed the schedule of withheld royalty payments
provided by ONRR. Based on the information presented in that payment
schedule, FMS is publishing this notice, certifying that, as of October
1, 2010, the royalties reported as withheld by the lessee in accordance
with the Energy Policy Act of 2005 amounted to $18,115,147.16 plus
interest at 8% per annum. This certification is applicable as of
October 1, 2010.
Dated: June 21, 2011.
David A. Lebryk,
Commissioner.
[FR Doc. 2011-16009 Filed 6-27-11; 8:45 am]
BILLING CODE 4810-35-M
