Partnership Transactions Involving Equity Interests of a Partner; Correction, 38940-38941 [2015-16674]
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38940
Federal Register / Vol. 80, No. 130 / Wednesday, July 8, 2015 / Rules and Regulations
shortage. This biological product
shortages list will include the following
information:
(i) The names and National Drug
Codes for such biological products, or
the alternative standards for
identification and labeling that have
been recognized as acceptable by the
Center Director;
(ii) The name of each applicant for
such biological products;
(iii) The reason for the shortage, as
determined by FDA, selecting from the
following categories: Requirements
related to complying with good
manufacturing practices; regulatory
delay; shortage of an active ingredient;
shortage of an inactive ingredient
component; discontinuation of the
manufacture of the biological product;
delay in shipping of the biological
product; demand increase for the
biological product; or other reason; and
(iv) The estimated duration of the
shortage.
(2) Confidentiality. FDA may choose
not to make information collected to
implement this paragraph available on
the biological product shortages list or
available under section 506C(c) of the
Federal Food, Drug, and Cosmetic Act
(21 U.S.C. 356c(c)) if FDA determines
that disclosure of such information
would adversely affect the public health
(such as by increasing the possibility of
hoarding or other disruption of the
availability of the biological product to
patients). FDA will also not provide
information on the public shortages list
or under section 506C(c) of the Federal
Food, Drug, and Cosmetic Act that is
protected by 18 U.S.C. 1905 or 5 U.S.C.
552(b)(4), including trade secrets and
commercial or financial information
that is considered confidential or
privileged under § 20.61 of this chapter.
(e) Noncompliance letters. If an
applicant fails to submit a notification
as required under paragraph (a) of this
section and in accordance with
paragraph (b) of this section, FDA will
issue a letter to the applicant informing
it of such failure.
(1) Not later than 30 calendar days
after the issuance of such a letter, the
applicant must submit to FDA a written
response setting forth the basis for
noncompliance and providing the
required notification under paragraph
(a) of this section and including the
information required under paragraph
(c) of this section; and
(2) Not later than 45 calendar days
after the issuance of a letter under this
paragraph, FDA will make the letter and
the applicant’s response to the letter
public, unless, after review of the
applicant’s response, FDA determines
that the applicant had a reasonable basis
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for not notifying FDA as required under
paragraph (a) of this section.
(f) Definitions. The following
definitions of terms apply to this
section:
Biological product shortage or
shortage means a period of time when
the demand or projected demand for the
biological product within the United
States exceeds the supply of the
biological product.
Intended for use in the prevention or
treatment of a debilitating disease or
condition means a biological product
intended for use in the prevention or
treatment of a disease or condition
associated with mortality or morbidity
that has a substantial impact on day-today functioning.
Life supporting or life sustaining
means a biological product that is
essential to, or that yields information
that is essential to, the restoration or
continuation of a bodily function
important to the continuation of human
life.
Meaningful disruption means a
change in production that is reasonably
likely to lead to a reduction in the
supply of a biological product by a
manufacturer that is more than
negligible and affects the ability of the
manufacturer to fill orders or meet
expected demand for its product, and
does not include interruptions in
manufacturing due to matters such as
routine maintenance or insignificant
changes in manufacturing so long as the
manufacturer expects to resume
operations in a short period of time.
Significant disruption means a change
in production that is reasonably likely
to lead to a reduction in the supply of
blood or blood components by a
manufacturer that substantially affects
the ability of the manufacturer to fill
orders or meet expected demand for its
product, and does not include
interruptions in manufacturing due to
matters such as routine maintenance or
insignificant changes in manufacturing
so long as the manufacturer expects to
resume operations in a short period of
time.
Dated: July 1, 2015.
Leslie Kux,
Associate Commissioner for Policy.
[FR Doc. 2015–16659 Filed 7–7–15; 8:45 am]
BILLING CODE 4164–01–P
PO 00000
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9722]
RIN 1545–BM35
Partnership Transactions Involving
Equity Interests of a Partner;
Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendments.
AGENCY:
This document contains
corrections to final and temporary
regulations (TD 9722) that were
published in the Federal Register on
June 12, 2015 (80 FR 33402). The final
and temporary regulations prevent a
corporate partner from avoiding
corporate-level gain through
transactions with a partnership
involving equity interests of the partner.
DATES: This correction is effective on
July 2, 2015 and applicable beginning
June 12, 2015.
FOR FURTHER INFORMATION CONTACT:
Kevin I. Babitz at (202) 317–6852 (not a
toll free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The final and temporary regulations
(TD 9722) that are the subject of this
correction are under sections 311(b),
336(a), and 337(d) of the Internal
Revenue Code.
Need for Correction
As published, the final and temporary
regulations (TD 9722) contain errors that
may prove to be misleading and are in
need of clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and
recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendments:
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
■
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.337(d)–3T is
amended by revising paragraphs (c)(2)(i)
and (f)(2)(ii) to read as follows:
■
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Federal Register / Vol. 80, No. 130 / Wednesday, July 8, 2015 / Rules and Regulations
§ 1.337(d)–3T Gain recognition upon
certain partnership transactions involving a
partner’s stock (temporary).
*
*
*
*
*
(c) * * *
(2) * * * (i) In general. With respect
to a Corporate Partner, Stock of the
Corporate Partner includes the
Corporate Partner’s stock, or other
equity interests, including options,
warrants, and similar interests, in the
Corporate Partner or a corporation that
controls the Corporate Partner within
the meaning of section 304(c), except
that section 318(a)(1) and (3) shall not
apply. Stock of the Corporate Partner
also includes interests in any entity to
the extent that the value of the interest
is attributable to Stock of the Corporate
Partner.
(f) * * *
(2) * * *
(ii) Is not distributed to the Corporate
Partner or a corporation that controls
the Corporate Partner within the
meaning of section 304(c), except that
section 318(a)(1) and (3) shall not apply.
*
*
*
*
*
§ 1.732–1T
[Amended]
Par 3. Section 1.732–1T paragraph
(c)(5)(ii) is amended by removing the
word ‘‘Nothwithstanding’’ and adding
in its place the word
‘‘Notwithstanding’’.
■
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. 2015–16674 Filed 7–2–15; 4:15 pm]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9722]
RIN 1545–BM35
Partnership Transactions Involving
Equity Interests of a Partner;
Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Final and temporary
regulations; correction.
tkelley on DSK3SPTVN1PROD with RULES
AGENCY:
This document contains
corrections to final and temporary
regulations (TD 9722) that were
published in the Federal Register on
June 12, 2015 (80 FR 33402). The final
and temporary regulations prevent a
corporate partner from avoiding
corporate-level gain through
transactions with a partnership
involving equity interests of the partner.
DATES: This correction is effective on
July 2, 2015 and applicable beginning
June 12, 2015.
FOR FURTHER INFORMATION CONTACT:
Kevin I. Babitz at (202) 317–6852 (not a
toll free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The final and temporary regulations
(TD 9722) that are the subject of this
correction are under sections 311(b),
336(a), and 337(d) of the Internal
Revenue Code.
Need for Correction
As published, the final and temporary
regulations (TD 9722) contain errors that
may prove to be misleading and are in
need of clarification.
Correction of Publication
Accordingly, the final regulations (TD
9722), that are the subject of FR Doc.
2015–14405, are corrected as follows:
1. On page 33404, in the preamble,
the first column, the tenth and eleventh
lines from the top of the column, the
language ‘‘that controls (within the
meaning of section 304(c)) the Corporate
Partner.’’ is corrected to read ‘‘that
controls the Corporate Partner within
the meaning of section 304(c), except
that section 318(a)(1) and (3) shall not
apply (section 304(c) control).’’.
2. On page 33404, in the preamble,
the first column, the eighteenth through
the twentieth line from the top of the
first full paragraph, the language ‘‘that
controls the Corporate Partner within
the meaning of section 304(c) (section
304(c) control), whereas the’’ is
corrected to read ‘‘that possesses section
304(c) control of the Corporate Partner,
whereas the’’.
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 165
[Docket No. USCG–2015–0527]
Safety Zones; Recurring Events in
Captain of the Port Boston Zone
AGENCY:
Coast Guard, DHS.
Notice of enforcement of
regulation.
ACTION:
The Coast Guard will enforce
the safety zones in the Captain of the
Port Boston Zone on the specified dates
and times listed below. This action is
necessary to ensure the protection of the
maritime public and event participants
from the hazards associated with these
annual recurring events. Under the
provisions of our regulations, no person
or vessel, except for the safety vessels
assisting with the event may enter the
safety zones unless given permission
from the COTP or the designated onscene representative. The Coast Guard
may be assisted by other Federal, State,
or local law enforcement agencies in
enforcing this regulation.
SUMMARY:
The regulation for the safety
zones described in 33 CFR 165.118 will
be enforced on July 3, 2015 between
7:00 p.m. to 11:00 p.m., on July 4, 2015
from 9:00 p.m. to 11:00 p.m., on July 10,
2015 from 6:00 a.m. to 4:00 p.m., and on
July 11, 2015 from 8:30 a.m. to 10:30
a.m., as listed in the table located in the
Supplementary Information.
DATES:
If
you have questions on this document,
call or email Mr. Mark Cutter, Coast
Guard Sector Boston Waterways
Management Division, telephone 617–
223–4000, email Mark.E.Cutter@
uscg.mil.
FOR FURTHER INFORMATION CONTACT:
The Coast
Guard will enforce the safety zones
listed in 33 CFR 165.118 on the
specified dates and times as indicated in
Table 1 below.
SUPPLEMENTARY INFORMATION:
[FR Doc. 2015–16673 Filed 7–2–15; 4:15 pm]
BILLING CODE 4830–01–P
TABLE 1
7.1
City of Lynn 4th of July Celebration Fireworks ...............................
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•
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Event Type: Firework Display.
Sponsor: City of Lynn.
Date: July 3, 2015.
Time: 7:00 p.m. to 11:00 p.m.
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]]>Agencies
[Federal Register Volume 80, Number 130 (Wednesday, July 8, 2015)]
[Rules and Regulations]
[Pages 38940-38941]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-16674]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9722]
RIN 1545-BM35
Partnership Transactions Involving Equity Interests of a Partner;
Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendments.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final and temporary
regulations (TD 9722) that were published in the Federal Register on
June 12, 2015 (80 FR 33402). The final and temporary regulations
prevent a corporate partner from avoiding corporate-level gain through
transactions with a partnership involving equity interests of the
partner.
DATES: This correction is effective on July 2, 2015 and applicable
beginning June 12, 2015.
FOR FURTHER INFORMATION CONTACT: Kevin I. Babitz at (202) 317-6852 (not
a toll free number).
SUPPLEMENTARY INFORMATION:
Background
The final and temporary regulations (TD 9722) that are the subject
of this correction are under sections 311(b), 336(a), and 337(d) of the
Internal Revenue Code.
Need for Correction
As published, the final and temporary regulations (TD 9722) contain
errors that may prove to be misleading and are in need of
clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is corrected by making the following
correcting amendments:
PART 1--INCOME TAXES
0
Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
0
Par. 2. Section 1.337(d)-3T is amended by revising paragraphs (c)(2)(i)
and (f)(2)(ii) to read as follows:
[[Page 38941]]
Sec. 1.337(d)-3T Gain recognition upon certain partnership
transactions involving a partner's stock (temporary).
* * * * *
(c) * * *
(2) * * * (i) In general. With respect to a Corporate Partner,
Stock of the Corporate Partner includes the Corporate Partner's stock,
or other equity interests, including options, warrants, and similar
interests, in the Corporate Partner or a corporation that controls the
Corporate Partner within the meaning of section 304(c), except that
section 318(a)(1) and (3) shall not apply. Stock of the Corporate
Partner also includes interests in any entity to the extent that the
value of the interest is attributable to Stock of the Corporate
Partner.
(f) * * *
(2) * * *
(ii) Is not distributed to the Corporate Partner or a corporation
that controls the Corporate Partner within the meaning of section
304(c), except that section 318(a)(1) and (3) shall not apply.
* * * * *
Sec. 1.732-1T [Amended]
0
Par 3. Section 1.732-1T paragraph (c)(5)(ii) is amended by removing the
word ``Nothwithstanding'' and adding in its place the word
``Notwithstanding''.
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2015-16674 Filed 7-2-15; 4:15 pm]
BILLING CODE 4830-01-P
