Oil and Gas and Sulphur Operations in the Outer Continental Shelf-Technical Corrections; Correction, 40812-40813 [2016-14850]

Download as PDF 40812 Federal Register / Vol. 81, No. 121 / Thursday, June 23, 2016 / Rules and Regulations Par. 13. Section 1.7874–8T is amended by revising the third sentence of paragraph (h) Example 1.(ii), the fifth sentence of paragraph (h) Example 2.(ii), the ninth sentence of paragraph (h) Example 3.(ii), and paragraph (j) to read as follows: ■ § 1.7874–8T Disregard of certain stock attributable to multiple domestic entity acquisitions (temporary). * * * (h) * * * * * Example 1. * * * (ii) * * * As a result, and because there were no redemptions of FA stock, the excluded amount is $150x (calculated as 100, the total number of prior acquisition shares, multiplied by $1.50x, the fair market value of a single share of FA stock on the completion date with respect to the DT2 acquisition). * * * * * * * * Example 2. * * * (ii) * * * As a result, the excluded amount is $112.50x, calculated as 75 (100, the total number of prior acquisition shares, less 25, the allocable redeemed shares) multiplied by $1.50x (the fair market value of a single share of FA stock on the completion date with respect to the DT2 acquisition). * * * * * * * * Example 3. * * * (ii) * * * Accordingly, the excluded amount is $112.50x, calculated as 150 (200, the total number of prior acquisition shares, less 50, the allocable redeemed shares) multiplied by $0.75x (the fair market value of a single class of FA stock on the completion date with respect to the DT2 acquisition). * * * * * * * * (j) Expiration date. The applicability of this section expires on or before April 4, 2019. ■ Par. 14. Section 1.7874–9T is amended by revising paragraph (e)(1), the first sentence of paragraph (f) Example.(ii)(A), the seventh sentence of paragraph (f) Example.(iv) and paragraph (h) to read as follows: § 1.7874–9T Disregard of certain stock in third-country transactions (temporary). asabaliauskas on DSK3SPTVN1PROD with RULES * * * * * (e) * * * (1) Acquisition of multiple foreign corporations that are tax residents of the same foreign country. When multiple foreign acquisitions occur pursuant to the same plan (or a series of related transactions) and two or more of the acquired foreign corporations were subject to tax as a resident of the same foreign country before the foreign acquisitions and all related transactions, then those foreign acquisitions are treated as a single foreign acquisition and those acquired foreign corporations VerDate Sep<11>2014 16:58 Jun 22, 2016 Jkt 238001 are treated as a single acquired foreign corporation for purposes of this section. * * * * * (f) * * * Example. * * * (ii) * * * (A) The FT acquisition is a foreign acquisition because, pursuant to the FT acquisition, FA (a foreign acquiring corporation) acquires 100 percent of the stock of FT and is thus treated as indirectly acquiring 100 percent of the properties held by FT (an acquired foreign corporation). * * * * * * * * (iv) * * * FA’s indirect acquisition of FT’s properties is a covered foreign acquisition because 35 shares of FA stock (the shares received by Individual B) are held by reason of holding stock in FT; thus, the foreign ownership percentage is 100 percent (35/35). * * * * * * * * (h) Expiration date. The applicability of this section expires on or before April 4, 2019. ■ Par. 15. Section 1.7874–10T is amended by revising paragraphs (d)(2) and (j) to read as follows: § 1.7874–10T Disregard of certain distributions (temporary). * * * * * (d) * * * (2) On the completion date, former domestic entity shareholders or former domestic entity partners, as applicable, in the aggregate, own (applying the attribution rules of section 318(a) with the modifications described in section 304(c)(3)(B)) less than five percent (by vote and value) of the stock of (or a partnership interest in) each member of the expanded affiliated group. * * * * * (j) Expiration date. This section expires on or before April 4, 2019. ■ Par. 16. Section 1.7874–11T is amended by revising paragraphs (b)(1) and (2), and (g) to read as follows: § 1.7874–11T Rules regarding inversion gain (temporary). * * * * * (b) * * * (1) General rule. Except as provided in paragraphs (b)(2) and (3) of this section, inversion gain includes income (including an amount treated as a dividend under section 78) or gain recognized by an expatriated entity for any taxable year that includes any portion of the applicable period by reason of a direct or indirect transfer of stock or other properties or license of any property either as part of the domestic entity acquisition, or after such acquisition if the transfer or license is to a specified related person. (2) Exception for property described in section 1221(a)(1). Inversion gain PO 00000 Frm 00034 Fmt 4700 Sfmt 4700 does not include income or gain recognized by reason of the transfer or license, after the domestic entity acquisition, of property that is described in section 1221(a)(1) in the hands of the transferor or licensor. * * * * * (g) Expiration date. This section expires on or before April 4, 2019. ■ Par. 17. Section 1.7874–12T is amended by revising paragraph (c) to read as follows: § 1.7874–12T Definitions (temporary). * * * * * (c) Expiration date. This section expires on or before April 4, 2019. Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2016–14649 Filed 6–22–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE INTERIOR Bureau of Safety and Environmental Enforcement 30 CFR Part 250 [Docket ID: BSEE–2016–0006; EEEE500000 16XE1700DX EX1SF0000.DAQ000] RIN 1014–AA15 Oil and Gas and Sulphur Operations in the Outer Continental Shelf—Technical Corrections; Correction Bureau of Safety and Environmental Enforcement (BSEE), Interior. ACTION: Final rule; correction. AGENCY: The Bureau of Safety and Environmental Enforcement (BSEE) is correcting a final rule that appeared in the Federal Register on June 6, 2016 (81 FR 36145). DATES: Effective July 28, 2016. FOR FURTHER INFORMATION CONTACT: Betty Cox, Regulations and Standards Branch at (703) 787–1665 or email at regs@bsee.gov. SUPPLEMENTARY INFORMATION: In the FR Doc. 2016–12487 appearing on page 36150 in the Federal Register of Monday, June 6, 2016, the following correction is made: SUMMARY: § 250.904 [Corrected] 1. On page 36150, in the first column, remove amendatory instruction 20 correcting § 250.904. E:\FR\FM\23JNR1.SGM 23JNR1 Federal Register / Vol. 81, No. 121 / Thursday, June 23, 2016 / Rules and Regulations Dated: June 17, 2016. Robert W. Middleton, Deputy Chief, Office of Offshore Regulatory Programs. [FR Doc. 2016–14850 Filed 6–22–16; 8:45 am] BILLING CODE 4310–VH–P DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 117 [Docket No. USCG–2016–0474] Drawbridge Operation Regulation; Willamette River, Portland, OR Coast Guard, DHS. Notice of deviation from drawbridge regulation. AGENCY: ACTION: The Coast Guard has issued a temporary deviation from the operating schedule that governs the Morrison Bridge across the Willamette River, mile 12.8, at Portland, Oregon. The deviation is necessary to accommodate Multnomah County’s replacement of the bridge decking. This deviation allows the bridge to only open half of the span, single leaf, to allow for the replacement of bridge decking. The deviation also allows the vertical clearance to be reduced due to the project’s containment system. DATES: This deviation is effective from 6 a.m. on April 1, 2017 until 7 p.m. on September 27, 2017. ADDRESSES: The docket for this deviation, [USCG–2016–0474] is available at https://www.regulations.gov. Type the docket number in the ‘‘SEARCH’’ box and click ‘‘SEARCH.’’ Click on Open Docket Folder on the line associated with this deviation. FOR FURTHER INFORMATION CONTACT: If you have questions on this temporary deviation, call or email Mr. Steven Fischer, Bridge Administrator, Thirteenth Coast Guard District; telephone 206–220–7282, email d13-pfd13bridges@uscg.mil. SUPPLEMENTARY INFORMATION: Multnomah County has requested that the Morrison Bridge across the Willamette River, mile 12.8, be allowed to only open half the span, 92 feet, as opposed to a full opening, 185 feet, to accommodate the replacement of the bridge decking. The County has also requested to reduce the vertical clearance of the non-opening side of the span with scaffolding erected 10 feet below the lower bridge cord for a containment system and to require at least a two hour advance notice for an asabaliauskas on DSK3SPTVN1PROD with RULES SUMMARY: VerDate Sep<11>2014 16:58 Jun 22, 2016 Jkt 238001 opening. The Morrison Bridge is a double bascule bridge. When the bascule span is in the closed-tonavigation position, the bridge provides 69 feet of vertical clearance, which will be reduced to 59 feet with the containment system in place. The normal operating schedule for the Morrison Bridge is in accordance with 33 CFR 117.897(c)(3)(iv). The vertical clearance is above Columbia River Datum 0.0. The deviation period is from 6 a.m. on April 1, 2017 until 7 p.m. on September 27, 2017. The deviation allows the Morrison Bridge operator to only open half the span for maritime traffic with at least a two hour advanced notice. Waterway usage on this part of the Willamette River includes vessels ranging from commercial tug and barge to small pleasure craft. Vessels able to pass through the Morrison Bridge in the closed position may do so at any time. A tug will be on site to assist vessels through the single leaf span opening upon request. The bridge will be able to open half the span for emergencies with a two hour notice and there is no immediate alternate route for vessels to pass. The Coast Guard will also inform the users of the waterways through our Local and Broadcast Notices to Mariners of the change in operating schedule for the bridges so that vessel operators can arrange their transits to minimize any impact caused by the temporary deviation. In accordance with 33 CFR 117.35(e), the drawbridge must return to its regular operating schedule immediately at the end of the designated time period. This deviation from the operating regulations is authorized under 33 CFR 117.35. Dated: June 17, 2016. Steven M. Fischer, Bridge Administrator, Thirteenth Coast Guard District. [FR Doc. 2016–14846 Filed 6–22–16; 8:45 am] BILLING CODE 9110–04–P DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 165 [Docket No. USCG–2016–0260] Safety Zone; San Francisco Giants Fireworks, San Francisco Bay, San Francisco, CA Coast Guard, DHS. Notice of enforcement of regulation. AGENCY: ACTION: PO 00000 Frm 00035 Fmt 4700 Sfmt 4700 40813 The Coast Guard will enforce the safety zone for the San Francisco Giants Fireworks display in the Captain of the Port, San Francisco area of responsibility during the dates and times noted below. This action is necessary to protect life and property of the maritime public from the hazards associated with the fireworks display. During the enforcement period, unauthorized persons or vessels are prohibited from entering into, transiting through, or anchoring in the safety zone, unless authorized by the Patrol Commander (PATCOM). DATES: The regulations in 33 CFR 165.1191, Table 1, Item number 1 will be enforced from 11 a.m. on June 24, 2016 to 1 a.m. on June 25, 2016. FOR FURTHER INFORMATION CONTACT: If you have questions on this notice of enforcement, call or email Lieutenant Junior Grade Christina Ramirez, U.S. Coast Guard Sector San Francisco; telephone (415) 399–3585 or email at D11-PF-MarineEvents@uscg.mil. SUPPLEMENTARY INFORMATION: The Coast Guard will enforce the safety zone established in 33 CFR 165.1191, Table 1, Item number 1 on June 24, 2016. From 11 a.m. until 10 p.m. on June 24, 2016 the safety zone will be enforced in the navigable waters around and under the fireworks barge within a radius of 100 feet throughout the loading and transit of fireworks barge at the launch site and until the start of the fireworks display. As indicated below, during the fireworks display, the size of the safety zone will increase to accommodate fallout and other debris during the display. From 11 a.m. until 5 p.m. on June 24, 2016 the fireworks barge will be loading pyrotechnics at Pier 50 in San Francisco, CA. From 5 p.m. to 9:30 p.m. on June 24, 2016 the fireworks barge will remain at Pier 50. From 9:30 p.m. to 10 p.m. on June 24, 2016 the loaded fireworks barge will transit from Pier 50 to the launch site near Pier 48 in approximate position 37°46′36″ N., 122°22′56″ W. (NAD83). At the conclusion of the baseball game, approximately 10 p.m. on June 24, 2016, the safety zone will increase in size and encompass the navigable waters around and under the fireworks barge within a radius of 700 feet in approximate position 37°46′36″ N., 122°22′56″ W. (NAD83) for the San Francisco Giants Fireworks display in 33 CFR 165.1191, Table 1, Item number 1. Upon the conclusion of the fireworks display, the safety zone shall terminate. Under the provisions of 33 CFR 165.1191, unauthorized persons or vessels are prohibited from entering into, transiting through, or anchoring in SUMMARY: E:\FR\FM\23JNR1.SGM 23JNR1

Agencies

[Federal Register Volume 81, Number 121 (Thursday, June 23, 2016)]
[Rules and Regulations]
[Pages 40812-40813]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-14850]


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DEPARTMENT OF THE INTERIOR

Bureau of Safety and Environmental Enforcement

30 CFR Part 250

[Docket ID: BSEE-2016-0006; EEEE500000 16XE1700DX EX1SF0000.DAQ000]
RIN 1014-AA15


Oil and Gas and Sulphur Operations in the Outer Continental 
Shelf--Technical Corrections; Correction

AGENCY: Bureau of Safety and Environmental Enforcement (BSEE), 
Interior.

ACTION: Final rule; correction.

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SUMMARY: The Bureau of Safety and Environmental Enforcement (BSEE) is 
correcting a final rule that appeared in the Federal Register on June 
6, 2016 (81 FR 36145).

DATES: Effective July 28, 2016.

FOR FURTHER INFORMATION CONTACT: Betty Cox, Regulations and Standards 
Branch at (703) 787-1665 or email at regs@bsee.gov.

SUPPLEMENTARY INFORMATION: In the FR Doc. 2016-12487 appearing on page 
36150 in the Federal Register of Monday, June 6, 2016, the following 
correction is made:


Sec.  250.904  [Corrected]

    1. On page 36150, in the first column, remove amendatory 
instruction 20 correcting Sec.  250.904.


[[Page 40813]]


    Dated: June 17, 2016.
Robert W. Middleton,
Deputy Chief, Office of Offshore Regulatory Programs.
[FR Doc. 2016-14850 Filed 6-22-16; 8:45 am]
 BILLING CODE 4310-VH-P
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