Certification Pursuant to Energy Policy Act of 2005, 37890-37891 [2011-16009]

Download as PDF 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 VerDate Mar<15>2010 16:46 Jun 27, 2011 Jkt 223001 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 PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 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: E:\FR\FM\28JNN1.SGM 28JNN1 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 http://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 mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 16:46 Jun 27, 2011 Jkt 223001 Electronic and Facsimile Availability This document and additional information concerning OFAC are available from OFAC’s Web site PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 37891 (http://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, E:\FR\FM\28JNN1.SGM 28JNN1

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]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Certification Pursuant to Energy Policy Act of 2005

AGENCY: Financial Management Service, Fiscal Service, Treasury.

ACTION: Notice.

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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