Interest on Untimely Paid Vessel Repair Duties, 17331-17332 [2012-7229]
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Federal Register / Vol. 77, No. 58 / Monday, March 26, 2012 / Rules and Regulations
sroberts on DSK5SPTVN1PROD with RULES
§ 4.27 Additional reporting by advisors of
certain large commodity pools.
(a) General definitions. For the
purposes of this section:
(1) Commodity pool operator or CPO
has the same meaning as commodity
pool operator defined in section 1a(11)
of the Commodity Exchange Act;
(2) Commodity trading advisor or CTA
has the same meaning as defined in
section 1a(12);
(3) Direct has the same meaning as
defined in section 4.10(f);
(4) Net asset value or NAV has the
same meaning as net asset value as
defined in section 4.10(b);
(5) Pool has the same meaning as
defined in section 1(a)(10) of the
Commodity Exchange Act;
(6) Reporting period means the
reporting period as defined in the forms
promulgated hereunder;
(b) Persons required to report. A
reporting person is:
(1) Any commodity pool operator that
is registered or required to be registered
under the Commodity Exchange Act and
the Commission’s regulations
thereunder; or
(2) Any commodity trading advisor
that is registered or required to be
registered under the Commodity
Exchange Act and the Commission’s
regulations thereunder.
(c) Reporting. (1) Except as provided
in paragraph (c)(2) of this section, each
reporting person shall file with the
National Futures Association, a report
with respect to the directed assets of
each pool under the advisement of the
commodity pool operator consistent
with appendix A to this part or
commodity trading advisor consistent
with appendix C to this part.
(2) All financial information shall be
reported in accordance with generally
accepted accounting principles
consistently applied.
(d) Investment advisers to private
funds. Except as otherwise expressly
provided in this section, CPOs and
CTAs that are dually registered with the
Securities and Exchange Commission
and are required to file Form PF
pursuant to the rules promulgated under
the Investment Advisers Act of 1940,
shall file Form PF with the Securities
and Exchange Commission in lieu of
filing such other reports with respect to
private funds as may be required under
this section. In addition, except as
otherwise expressly provided in this
section, CPOs and CTAs that are dually
registered with the Securities and
Exchange Commission and are required
to file Form PF pursuant to the rules
promulgated under the Investment
Advisers Act of 1940, may file Form PF
with the Securities and Exchange
VerDate Mar<15>2010
16:21 Mar 23, 2012
Jkt 226001
Commission in lieu of filing such other
reports with respect to commodity pools
that are not private funds as may be
required under this section. Dually
registered CPOs and CTAs that file Form
PF with the Securities and Exchange
Commission will be deemed to have
filed Form PF with the Commission for
purposes of any enforcement action
regarding any false or misleading
statement of a material fact in Form PF.
(e) Filing requirements. Each report
required to be filed with the National
Futures Association under this section
shall:
(1)(i) Contain an oath and affirmation
that, to the best of the knowledge and
belief of the individual making the oath
and affirmation, the information
contained in the document is accurate
and complete; Provided, however, That
it shall be unlawful for the individual to
make such oath or affirmation if the
individual knows or should know that
any of the information in the document
is not accurate and complete and
(ii) Each oath or affirmation must be
made by a representative duly
authorized to bind the CPO or CTA.
(2) Be submitted consistent with the
National Futures Association’s
electronic filing procedures.
(f) Termination of reporting
requirement. All reporting persons shall
continue to file such reports as are
required under this section until the
effective date of a Form 7W filed in
accordance with the Commission’s
regulations.
(g) Public records. Reports filed
pursuant to this section shall not be
considered Public Records as defined in
§ 145.0 of this chapter.
ACTION:
17331
Final rule.
This document adopts as a
final rule, without change, the proposed
amendments to the CBP regulations that
provide that where an owner or master
of a vessel documented under the laws
of the United States fails to timely pay
the duties determined to be due to CBP
that are associated with the purchase of
equipment for, or repair to, the vessel
while it is outside the United States,
interest will accrue on the amounts
owed to CBP and that person will be
liable for interest. The purpose of this
document is to ensure that the CBP
regulations reflect that CBP collects
interest as part of its inherent revenue
collection functions in situations where
an owner or master of a vessel fails to
pay the vessel repair duties determined
to be due within 30 days of CBP issuing
the bill.
DATES: Effective Date: April 25, 2012.
FOR FURTHER INFORMATION CONTACT:
George F. McCray, Chief, Cargo
Security, Carriers and Immigration
Branch, Regulations and Rulings, Office
of International Trade, (202) 325–0082.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
DEPARTMENT OF HOMELAND
SECURITY
On April 1, 2011, U.S. Customs and
Border Protection (CBP) published in
the Federal Register (76 FR 18132) a
proposal to amend title 19 of the Code
of Federal Regulations (19 CFR)
regarding the payment of interest on
untimely paid vessel repairs.
Specifically, CBP proposed amendments
to the regulations to provide that where
an owner or master of a vessel
documented under the laws of the
United States fails to timely pay the
duties determined to be due to CBP that
are associated with the purchase of
equipment for, or repair to, the vessel
while it is outside the United States,
interest will accrue on the amounts
owed to CBP and that person will be
liable for interest.
CBP solicited comments on the
proposed rulemaking.
U.S. Customs and Border Protection
Discussion of Comment
Editorial Note: FR DOC 2012–3390
appearing on pages 11252–11344 in the issue
of Friday, February 24, 2012 is being partially
republished due to numerous errors.
[FR Doc. C1–2012–3390 Filed 3–23–12; 8:45 a.m.]
BILLING CODE 1505–01–D
DEPARTMENT OF THE TREASURY
19 CFR PARTS 4 and 24
[CBP Dec. 12–04; USCBP–2008–0085]
RIN 1515–AD74
One commenter responded to the
solicitation of public comment in the
proposed rule. The comment was
favorable and recommended adoption of
the proposed amendments as a final
rule.
Conclusion
Interest on Untimely Paid Vessel
Repair Duties
U.S. Customs and Border
Protection, Department of Homeland
Security; Department of the Treasury.
AGENCY:
PO 00000
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Fmt 4700
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In light of the fact that a single
favorable comment was submitted in
response to CBP’s solicitation of public
comment, CBP has determined to adopt
as final the proposed rule published in
E:\FR\FM\26MRR1.SGM
26MRR1
17332
Federal Register / Vol. 77, No. 58 / Monday, March 26, 2012 / Rules and Regulations
Section 4.14 also issued under 19 U.S.C.
1466, 1498; 31 U.S.C. 9701.
the Federal Register (76 FR 18132) on
April 1, 2011 without change.
*
The Regulatory Flexibility Act and
Executive Order 12866
Because these amendments merely
reflect the agency’s revenue collection
functions and rights, and impose no
additional regulatory burden on the
importing public, pursuant to the
provisions of the Regulatory Flexibility
Act, 5 U.S.C. 601 et seq., it is certified
that the amendments will not have a
significant economic impact on a
substantial number of small entities.
Further, these amendments do not meet
the criteria for a ‘‘significant regulatory
action’’ as specified in Executive Order
12866.
Paperwork Reduction Act
As there are no new collections of
information in this document, the
provisions of the Paperwork Reduction
Act of 1995 (44 U.S.C. 3507) are
inapplicable.
Signing Authority
This rulemaking is being issued in
accordance with 19 CFR 0.1(a)(1),
pertaining to the authority of the
Secretary of the Treasury (or his/her
delegate) to approve regulations related
to certain CBP revenue functions.
List of Subjects
Administrative practice and
procedure, Cargo vessels, Customs
duties and inspection, Entry, Passenger
vessels, Penalties, Repairs, Reporting
and recordkeeping requirements,
Shipping, Vessels.
19 CFR Part 24
Accounting, Claims, Customs duties
and inspection, Exports, Imports,
Interest, Reporting and recordkeeping
requirements, Taxes, User fees, Wages.
Amendments to the Regulations
For the reasons set forth in the
preamble, parts 4 and 24 of title 19 of
the CFR (19 CFR Parts 4 and 24) are
amended as set forth below.
PART 4—VESSELS IN FOREIGN AND
DOMESTIC TRADE
1. The general authority citation for
part 4 continues, and the specific
authority citation for § 4.14 is revised, to
read as follows:
sroberts on DSK5SPTVN1PROD with RULES
■
Authority: 5 U.S.C. 301; 19 U.S.C. 66,
1431, 1433, 1434, 1624, 2071 note; 46 U.S.C.
501, 60105.
*
*
VerDate Mar<15>2010
§ 4.14 Equipment purchases for, and
repairs to, American vessels.
*
*
*
*
*
(i) * * *
(3) Application for Relief; failure to
file or denial in whole or in part. If no
Application for Relief is filed, or if a
timely filed Application for Relief is
denied in whole or in part, the VRU will
determine the amount of duty due and
issue a bill to the party who filed the
vessel repair entry. If the bill is not
timely paid, interest will accrue as
provided in § 24.3a(b)(1) of this chapter.
(j) * * *
(1) * * * The owner or master of the
vessel who fails to timely pay the duty
determined to be due is liable for
interest as provided in § 24.3a(b)(1) of
this chapter.
*
*
*
*
*
PART 24—CUSTOMS FINANCIAL AND
ACCOUNTING PROCEDURE
19 CFR Part 4
*
*
*
*
*
2. In § 4.14:
a. The section heading is revised;
b. Paragraph (i)(3) is redesignated as
paragraph (i)(4) and a new paragraph
(i)(3) is added; and
■ c. Paragraph (j)(1) is amended by
adding a new third sentence.
The revisions and additions read as
follows:
■
■
■
*
*
16:21 Mar 23, 2012
Jkt 226001
3. The general authority citation for
part 24 is revised to read as follows:
■
g. In paragraph (b)(2)(i)(B)(1), by
removing the word ‘‘shall’’ and adding
in its place the word ‘‘will’’;
■ h. In paragraph (b)(2)(i)(B)(2), by
removing the word ‘‘shall’’ and adding
in its place the word ‘‘will’’;
■ i. In paragraph (b)(2)(i)(B)(3), by
removing the word ‘‘shall’’ wherever it
appears and adding in each place the
word ‘‘will’’;
■ j. In paragraph (b)(2)(i)(B)(4), by
removing the word ‘‘shall’’ and adding
in its place the word ‘‘will’’;
■ k. In paragraph (b)(2)(i)(C), by
removing the word ‘‘shall’’ and adding
in its place the word ‘‘will’’;
■ l. In paragraph (b)(2)(ii), by removing
the word ‘‘shall’’ wherever it appears
and adding in each place the word
‘‘will’’; and
■ m. In paragraph (c)(1), by removing
the words ‘‘CBP Office of Finance,
Indianapolis, Indiana’’ and adding in
their place the language ‘‘CBP’s Revenue
Division, Office of Administration’’.
The revision reads as follows:
■
§ 24.3a CBP bills; interest assessment on
bills; delinquency; notice to principal and
surety.
*
*
*
*
*
David V. Aguilar,
Acting Commissioner, U.S. Customs and
Border Protection.
Approved: March 21, 2012.
Timothy E. Skud,
Deputy Assistant Secretary of the Treasury.
[FR Doc. 2012–7229 Filed 3–23–12; 8:45 am]
BILLING CODE 9111–14–P
Authority: 5 U.S.C. 301; 19 U.S.C. 58a–
58c, 66, 1202 (General Note 3(i), Harmonized
Tariff Schedule of the United States, 1505,
1520, 1624; 26 U.S.C. 4461, 4462; 31 U.S.C.
3717, 9701; Pub. L. 107–296, 116 Stat. 2135
(6 U.S.C. 1 et seq.).
DEPARTMENT OF HOMELAND
SECURITY
*
33 CFR Part 117
*
*
*
*
4. Section 24.3a is amended:
a. By revising the section heading;
b. In paragraph (a): by adding, after
the parenthetical phrase that ends with
the word ‘‘reliquidation’’, the language
‘‘, or vessel repair duties,’’; and by
removing the words ‘‘shall be’’ and
adding in their place the word ‘‘are’’;
■ c. In the heading text to paragraph
(b)(1), by adding after the word ‘‘for’’ the
words ‘‘vessel repair duties,’’;
■ d. In paragraph (b)(2)(i) introductory
text, by removing the word ‘‘shall’’ and
adding in its place the word ‘‘will’’;
■ e. In paragraph (b)(2)(i)(A), by
removing the word ‘‘shall’’ and adding
in its place the word ‘‘will’’;
■ f. In paragraph (b)(2)(i)(B)
introductory text, by removing the word
‘‘shall’’ and adding in its place the word
‘‘will’’;
■
■
■
PO 00000
Frm 00010
Fmt 4700
Sfmt 4700
Coast Guard
[Docket No. USCG–2012–0153]
Drawbridge Operation Regulations;
Pequonnock River, Bridgeport, CT,
Maintenance
Coast Guard, DHS.
Notice of temporary deviation
from regulations.
AGENCY:
ACTION:
The Commander, First Coast
Guard District, has issued a temporary
deviation from the regulation governing
the operation of the Metro North (Peck)
Bridge across the Pequonnock River,
mile 0.3, at Bridgeport, Connecticut.
The deviation allows the bridge to
remain in the closed position to
facilitate miter rail repair.
DATES: This deviation is effective from
April 15, 2012 through June 30, 2012.
SUMMARY:
E:\FR\FM\26MRR1.SGM
26MRR1
]]>Agencies
[Federal Register Volume 77, Number 58 (Monday, March 26, 2012)]
[Rules and Regulations]
[Pages 17331-17332]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-7229]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF HOMELAND SECURITY
U.S. Customs and Border Protection
DEPARTMENT OF THE TREASURY
19 CFR PARTS 4 and 24
[CBP Dec. 12-04; USCBP-2008-0085]
RIN 1515-AD74
Interest on Untimely Paid Vessel Repair Duties
AGENCY: U.S. Customs and Border Protection, Department of Homeland
Security; Department of the Treasury.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: This document adopts as a final rule, without change, the
proposed amendments to the CBP regulations that provide that where an
owner or master of a vessel documented under the laws of the United
States fails to timely pay the duties determined to be due to CBP that
are associated with the purchase of equipment for, or repair to, the
vessel while it is outside the United States, interest will accrue on
the amounts owed to CBP and that person will be liable for interest.
The purpose of this document is to ensure that the CBP regulations
reflect that CBP collects interest as part of its inherent revenue
collection functions in situations where an owner or master of a vessel
fails to pay the vessel repair duties determined to be due within 30
days of CBP issuing the bill.
DATES: Effective Date: April 25, 2012.
FOR FURTHER INFORMATION CONTACT: George F. McCray, Chief, Cargo
Security, Carriers and Immigration Branch, Regulations and Rulings,
Office of International Trade, (202) 325-0082.
SUPPLEMENTARY INFORMATION:
Background
On April 1, 2011, U.S. Customs and Border Protection (CBP)
published in the Federal Register (76 FR 18132) a proposal to amend
title 19 of the Code of Federal Regulations (19 CFR) regarding the
payment of interest on untimely paid vessel repairs. Specifically, CBP
proposed amendments to the regulations to provide that where an owner
or master of a vessel documented under the laws of the United States
fails to timely pay the duties determined to be due to CBP that are
associated with the purchase of equipment for, or repair to, the vessel
while it is outside the United States, interest will accrue on the
amounts owed to CBP and that person will be liable for interest.
CBP solicited comments on the proposed rulemaking.
Discussion of Comment
One commenter responded to the solicitation of public comment in
the proposed rule. The comment was favorable and recommended adoption
of the proposed amendments as a final rule.
Conclusion
In light of the fact that a single favorable comment was submitted
in response to CBP's solicitation of public comment, CBP has determined
to adopt as final the proposed rule published in
[[Page 17332]]
the Federal Register (76 FR 18132) on April 1, 2011 without change.
The Regulatory Flexibility Act and Executive Order 12866
Because these amendments merely reflect the agency's revenue
collection functions and rights, and impose no additional regulatory
burden on the importing public, pursuant to the provisions of the
Regulatory Flexibility Act, 5 U.S.C. 601 et seq., it is certified that
the amendments will not have a significant economic impact on a
substantial number of small entities. Further, these amendments do not
meet the criteria for a ``significant regulatory action'' as specified
in Executive Order 12866.
Paperwork Reduction Act
As there are no new collections of information in this document,
the provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. 3507)
are inapplicable.
Signing Authority
This rulemaking is being issued in accordance with 19 CFR
0.1(a)(1), pertaining to the authority of the Secretary of the Treasury
(or his/her delegate) to approve regulations related to certain CBP
revenue functions.
List of Subjects
19 CFR Part 4
Administrative practice and procedure, Cargo vessels, Customs
duties and inspection, Entry, Passenger vessels, Penalties, Repairs,
Reporting and recordkeeping requirements, Shipping, Vessels.
19 CFR Part 24
Accounting, Claims, Customs duties and inspection, Exports,
Imports, Interest, Reporting and recordkeeping requirements, Taxes,
User fees, Wages.
Amendments to the Regulations
For the reasons set forth in the preamble, parts 4 and 24 of title
19 of the CFR (19 CFR Parts 4 and 24) are amended as set forth below.
PART 4--VESSELS IN FOREIGN AND DOMESTIC TRADE
0
1. The general authority citation for part 4 continues, and the
specific authority citation for Sec. 4.14 is revised, to read as
follows:
Authority: 5 U.S.C. 301; 19 U.S.C. 66, 1431, 1433, 1434, 1624,
2071 note; 46 U.S.C. 501, 60105.
* * * * *
Section 4.14 also issued under 19 U.S.C. 1466, 1498; 31 U.S.C.
9701.
* * * * *
0
2. In Sec. 4.14:
0
a. The section heading is revised;
0
b. Paragraph (i)(3) is redesignated as paragraph (i)(4) and a new
paragraph (i)(3) is added; and
0
c. Paragraph (j)(1) is amended by adding a new third sentence.
The revisions and additions read as follows:
Sec. 4.14 Equipment purchases for, and repairs to, American vessels.
* * * * *
(i) * * *
(3) Application for Relief; failure to file or denial in whole or
in part. If no Application for Relief is filed, or if a timely filed
Application for Relief is denied in whole or in part, the VRU will
determine the amount of duty due and issue a bill to the party who
filed the vessel repair entry. If the bill is not timely paid, interest
will accrue as provided in Sec. 24.3a(b)(1) of this chapter.
(j) * * *
(1) * * * The owner or master of the vessel who fails to timely pay
the duty determined to be due is liable for interest as provided in
Sec. 24.3a(b)(1) of this chapter.
* * * * *
PART 24--CUSTOMS FINANCIAL AND ACCOUNTING PROCEDURE
0
3. The general authority citation for part 24 is revised to read as
follows:
Authority: 5 U.S.C. 301; 19 U.S.C. 58a-58c, 66, 1202 (General
Note 3(i), Harmonized Tariff Schedule of the United States, 1505,
1520, 1624; 26 U.S.C. 4461, 4462; 31 U.S.C. 3717, 9701; Pub. L. 107-
296, 116 Stat. 2135 (6 U.S.C. 1 et seq.).
* * * * *
0
4. Section 24.3a is amended:
0
a. By revising the section heading;
0
b. In paragraph (a): by adding, after the parenthetical phrase that
ends with the word ``reliquidation'', the language ``, or vessel repair
duties,''; and by removing the words ``shall be'' and adding in their
place the word ``are'';
0
c. In the heading text to paragraph (b)(1), by adding after the word
``for'' the words ``vessel repair duties,'';
0
d. In paragraph (b)(2)(i) introductory text, by removing the word
``shall'' and adding in its place the word ``will'';
0
e. In paragraph (b)(2)(i)(A), by removing the word ``shall'' and adding
in its place the word ``will'';
0
f. In paragraph (b)(2)(i)(B) introductory text, by removing the word
``shall'' and adding in its place the word ``will'';
0
g. In paragraph (b)(2)(i)(B)(1), by removing the word ``shall'' and
adding in its place the word ``will'';
0
h. In paragraph (b)(2)(i)(B)(2), by removing the word ``shall'' and
adding in its place the word ``will'';
0
i. In paragraph (b)(2)(i)(B)(3), by removing the word ``shall''
wherever it appears and adding in each place the word ``will'';
0
j. In paragraph (b)(2)(i)(B)(4), by removing the word ``shall'' and
adding in its place the word ``will'';
0
k. In paragraph (b)(2)(i)(C), by removing the word ``shall'' and adding
in its place the word ``will'';
0
l. In paragraph (b)(2)(ii), by removing the word ``shall'' wherever it
appears and adding in each place the word ``will''; and
0
m. In paragraph (c)(1), by removing the words ``CBP Office of Finance,
Indianapolis, Indiana'' and adding in their place the language ``CBP's
Revenue Division, Office of Administration''.
The revision reads as follows:
Sec. 24.3a CBP bills; interest assessment on bills; delinquency;
notice to principal and surety.
* * * * *
David V. Aguilar,
Acting Commissioner, U.S. Customs and Border Protection.
Approved: March 21, 2012.
Timothy E. Skud,
Deputy Assistant Secretary of the Treasury.
[FR Doc. 2012-7229 Filed 3-23-12; 8:45 am]
BILLING CODE 9111-14-P
