Federal Register / Vol. 79, No. 176 / Thursday, September 11, 2014 / Proposed Rules 54223 

(ii) If you eddy current inspected an 

RB211–Trent 700 engine, before the effective 

date of this AD, using RB211 Trent 700 and 

Trent 800 Series Propulsion Systems Alert 

NMSB No. RB.211–72–AG085, Revision 1, 

dated September 27, 2010, you met the ECI 

requirement of paragraph (e)(1)(iii) of this 

AD. However, you are still required to 

perform the repetitive inspections required 

by paragraphs (e)(1)(ii) and (e)(1)(iii) of this 

AD. 

(2) RB211–Trent 800 Engines 

(i) If you borescope inspected an RB211– 

Trent 800 engine, before the effective date of 

this AD, using RB211 Trent 800 Series 

Propulsion System Alert NMSB No. RB.211– 

72–AG264, Revision 3, dated December 21, 

2010; or Revision 4, dated February 25, 2011, 

you met the requirements of paragraph 

(e)(2)(i) of this AD. 

(ii) If you eddy current inspected an 

RB211–Trent 800 engine, before the effective 

date of this AD, using RB211 Trent 700 and 

Trent 800 Series Propulsion Systems Alert 

NMSB No. RB.211–72–AG085, Revision 1, 

dated September 27, 2010, you met the ECI 

requirement of paragraph (e)(2)(i) of this AD. 

However, you are still required to perform 

the repetitive inspections required by 

paragraphs (e)(2)(ii) and (e)(2)(iii) of this AD. 

(3) RB211–Trent 500 Engines 

(i) If you borescope inspected an RB211– 

Trent 500 engine, before the effective date of 

this AD, using RB211 Trent 500 and Trent 

900 Series Propulsion Systems NMSB No. 

RB.211–72–G448, Revision 2, dated 

December 23, 2010, you met the requirement 

of paragraph (e)(3)(i) of this AD. 

(ii) If you eddy current inspected an 

RB211–Trent 500 engine, before the effective 

date of this AD, using RB211 Trent 500 and 

Trent 900 Series Propulsion Systems NMSB 

No. RB.211–72–G448, Revision 2, dated 

December 23, 2010, you met the ECI 

requirement of paragraph (e)(3)(iii) of this 

AD. However, you are still required to 

perform the repetitive inspections required 

by paragraphs (e)(3)(ii) and (e)(3)(iii) of this 

AD. 

(4) RB211–Trent 900 Engines 

(i) If you borescope inspected an RB211– 

Trent 900 engine, before the effective date of 

this AD, using RB211 Trent 500 and Trent 

900 Series Propulsion Systems NMSB No. 

RB.211–72–G448, Revision 2, dated 

December 23, 2010, you met the 

requirements of paragraph (e)(4)(i) of this AD. 

(ii) If you eddy current inspected an 

RB211–Trent 900 engine, before the effective 

date of this AD, using RB211 Trent 500 and 

Trent 900 Series Propulsion Systems NMSB 

No. RB.211–72–G448, Revision 2, dated 

December 23, 2010, you met the ECI 

requirement of paragraph (e)(4)(i) of this AD. 

However, you are still required to perform 

the repetitive inspections required by 

paragraphs (e)(4)(ii) and (e)(4)(iii) of this AD. 

(g) Definition 

For the purpose of this AD, a shop visit is 

defined as the introduction of an engine into 

the shop and disassembly sufficient to 

expose the IPC module rear face. 

(h) Alternative Methods of Compliance 

(AMOCs) 

The Manager, Engine Certification Office, 

FAA, may approve AMOCs for this AD. Use 

the procedures in 14 CFR 39.19 to make your 

request. 

(i) Related Information 

(1) For more information about this AD, 

contact Kenneth Steeves, Aerospace 

Engineer, Engine Certification Office, FAA, 

Engine & Propeller Directorate, 12 New 

England Executive Park, Burlington, MA 

01803; phone: 781–238–7765; fax: 781–238– 

7199; email: kenneth.steeves@faa.gov. 

(2) Refer to MCAI European Aviation 

Safety Agency, AD 2014–0152, dated June 20, 

2014 and corrected on June 25, 2014, for 

more information. You may examine the 

MCAI in the AD docket on the Internet at 

http://www.regulations.gov by searching for 

and locating it in Docket No. FAA–2007– 

28059. 

(3) RR Alert NMSB No. RB.211–72–AG264, 

Revision 5, dated March 21, 2011; RR Alert 

NMSB No. RB.211–72–AG270, Revision 4, 

dated March 21, 2011; RR Alert NMSB No. 

RB.211–72–AG085, Revision 2, dated July 7, 

2011; RR NMSB No. RB.211–72–G448, 

Revision 3, dated July 7, 2011; RR Alert 

NMSB No. RB.211–72–AH059, dated 

December 11, 2012; and RR Alert NMSB No. 

RB.211–72–AH058, dated December 13, 

2012, which are not incorporated by 

reference in this AD, can be obtained from 

Rolls-Royce plc, using the contact 

information in paragraph (i)(4) of this AD. 

(4) For service information identified in 

this AD, contact Rolls-Royce plc, Corporate 

Communications, P.O. Box 31, Derby, 

England, DE248BJ; phone: 011–44–1332– 

242424; fax: 011–44–1332–245418; Internet: 

http://www.rolls-royce.com/contact/civil_

team.jsp. 

(5) You may view this service information 

at the FAA, Engine & Propeller Directorate, 

12 New England Executive Park, Burlington, 

MA 01803. For information on the 

availability of this material at the FAA, call 

781–238–7125. 

Issued in Burlington, Massachusetts, on 

August 28, 2014. 

Colleen M. D’Alessandro, 

Assistant Directorate Manager, Engine & 

Propeller Directorate, Aircraft Certification 

Service. 

[FR Doc. 2014–21677 Filed 9–10–14; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Chapter 1 

[Docket Number No. FAA–2014–0463] 

Policy on the Non-Aeronautical Use of 

Airport Hangars; Extension for 

Comments 

AGENCY: Federal Aviation 

Administration (FAA). 

ACTION: Notice of proposed policy; 30 

day extension for comments. 

SUMMARY: The Federal Aviation 

Administration (FAA) has recently 

issued a notice of proposed policy. 

Significant interest among the aviation 

community, industry representatives, 

and congressional representatives has 

compelled the FAA to extend the 

comment period by 30 days. FAA will 

consider comments submitted to the 

docket by Monday, October 6, 2014. 

DATES: Comments regarding this policy 

must be received on or before October 

6, 2014. 

ADDRESSES: You may send comments 

[identified by Docket Number FAA– 

2014–0463] using any of the following 

methods: 

• Government-wide rulemaking Web 

site: Go to http://www.regulations.gov 

and follow the instructions for sending 

your comments electronically. 

• Mail: Docket Operations, U.S. 

Department of Transportation, West 

Building, Ground Floor, Room W12– 

140, Routing Symbol M–30, 1200 New 

Jersey Avenue SE., Washington, DC 

20590. 

• Fax: 1–202–493–2251. 

• Hand Delivery: To Docket 

Operations, Room W12–140 on the 

ground floor of the West Building, 1200 

New Jersey Avenue SE., Washington, 

DC 20590, between 9 a.m. and 5 p.m., 

Monday through Friday, except Federal 

holidays. 

FOR FURTHER INFORMATION CONTACT: 

Kevin C. Willis, Manager, Airport 

Compliance Division, ACO–100, Federal 

Aviation Administration, 800 

Independence Avenue SW., 

Washington, DC 20591, telephone (202) 

267–3085; facsimile: (202) 267–4629. 

SUPPLEMENTARY INFORMATION: Privacy: 

We will post all comments we receive, 

without change, to http://

www.regulations.gov, including any 

personal information you provide. 

Using the search function of our docket 

Web site, anyone can find and read the 

comments received into any of our 

dockets, including the name of the 

individual sending the comment (or 

signing the comment for an association, 

business, labor union, etc.). You may 

review DOT’s complete Privacy Act 

Statement in the Federal Register 

published on April 11, 2000 (65 FR 

19477–78). 

Statutory Authority 

This notice is published under the 

authority described in Title 49 of the 

United States Code, Subtitle VII, part B, 

chapter 471, section 47122(a). 


asabaliauskas on DSK5VPTVN1PROD with PROPOSALS
54224 Federal Register / Vol. 79, No. 176 / Thursday, September 11, 2014 / Proposed Rules 

1 15 U.S.C. 77a et seq. 

2Public Law 111–203, 124 Stat. 1376 (2010). 

3Section 712(d) of the Dodd-Frank Act provides 

that the SEC and the CFTC, in consultation with the 

Board of Governors of the Federal Reserve System, 

shall jointly further define the terms ‘‘swap,’’ 

‘‘security-based swap,’’ ‘‘swap dealer,’’ ‘‘securitybased swap dealer,’’ ‘‘major swap participant,’’ 

‘‘major security-based swap participant,’’ ‘‘eligible 

contract participant,’’ and ‘‘security-based swap 

agreement.’’ These terms are defined in Sections 

721 and 761 of the Dodd-Frank Act and, with 

respect to the term ‘‘eligible contract participant,’’ 

in Section 1a(18) of the Commodity Exchange Act 

[7 U.S.C. 1a(18)], as re-designated and amended by 

Section 721 of the Dodd-Frank Act. The SEC and 

the CFTC adopted final rules further defining these 

terms. See Further Definition of ‘‘Swap Dealer,’’ 

‘‘Security-Based Swap Dealer,’’ ‘‘Major Swap 

Participant,’’ ‘‘Major Security-Based Swap 

Participant’’ and ‘‘Eligible Contract Participant’’, 

Release No. 34–66868 (Apr. 27, 2012), 77 FR 30596 

(May 23, 2012), and Further Definition of ‘‘Swap,’’ 

‘‘Security-Based Swap,’’ and ‘‘Security-Based Swap 

Agreement’’; Mixed Swaps; Security-Based Swap 

Agreement Recordkeeping, Release No. 33–9338 

(Jul. 18, 2012), 77 FR 48208 (Aug. 13, 2012) 

(‘‘Product Definitions Adopting Release’’). 

4 15 U.S.C. 78a et seq. 

5See Sections 761(a)(2) and 768(a)(1) of the 

Dodd-Frank Act (amending Section 3(a)(10) of the 

Exchange Act [15 U.S.C. 78c(a)(10)] and Section 

2(a)(1) of the Securities Act [15 U.S.C. 77b(a)(1)], 

respectively). 

6See 15 U.S.C. 77e. 

7The term ‘‘eligible contract participant’’ is 

defined in Section 1a(18) of the Commodity 

Exchange Act [7 U.S.C. 1a(18)]. The definition of 

the term ‘‘eligible contract participant’’ in the 

Securities Act refers to the definition of ‘‘eligible 

contract participant’’ in the Commodity Exchange 

Act. See Section 5(e) of the Securities Act [15 U.S.C. 

77e(e)]. The eligible contract participant definition 

includes several categories of persons: Financial 

institutions; insurance companies; investment 

companies; commodity pools; business entities, 

such as corporations, partnerships, and trusts; 

employee benefit plans; government entities, such 

as the United States, a State or local municipality, 

a foreign government, a multinational or 

supranational government entity, or an 

instrumentality, agency or department of such 

entities; market professionals, such as broker 

dealers, futures commission merchants, floor 

brokers, and investment advisors; and natural 

persons with a specified dollar amount invested on 

a discretionary basis. The SEC and the CFTC 

adopted final rules further defining the term 

‘‘eligible contract participant.’’ See footnote 3 

above. 

8See Section 768(b) of the Dodd-Frank Act 

(adding new Section 5(d) of the Securities Act [15 

U.S.C. 77e(d)]) (Notwithstanding the provisions of 

Issued in Washington, DC, on September 5, 

2014. 

Randall S. Fiertz, 

Director, Office of Airport Compliance and 

Management Analysis. 

[FR Doc. 2014–21697 Filed 9–10–14; 8:45 am] 

BILLING CODE 4910–13–P 

SECURITIES AND EXCHANGE 

COMMISSION 

17 CFR Part 230 

[Release No. 33–9643; File No. S7–09–14] 

RIN 3235–AL41 

Treatment of Certain Communications 

Involving Security-Based Swaps That 

May Be Purchased Only by Eligible 

Contract Participants 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Proposed rule. 

SUMMARY: We are proposing a rule under 

the Securities Act of 1933 to provide 

that certain communications involving 

security-based swaps that may be 

purchased only by eligible contract 

participants will not be deemed for 

purposes of Section 5 of the Securities 

Act to constitute offers of such securitybased swaps or any guarantees of such 

security-based swaps that are securities. 

Under the proposed rule, the 

publication or distribution of price 

quotes relating to security-based swaps 

that may be purchased only by persons 

who are eligible contract participants 

and are traded or processed on or 

through a facility that either is 

registered as a national securities 

exchange or as a security-based swap 

execution facility, or is exempt from 

registration as a security-based swap 

execution facility pursuant to a rule, 

regulation, or order of the Commission, 

would not be deemed to constitute an 

offer, an offer to sell, or a solicitation of 

an offer to buy or purchase such 

security-based swaps or any guarantees 

of such security-based swaps that are 

securities for purposes of Section 5 of 

the Securities Act. 

DATES: Comments should be received on 

or before November 10, 2014. 

ADDRESSES: Comments may be 

submitted by any of the following 

methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/

rules/proposed.shtml); 

• Send an email to rule-comments@

sec.gov. Please include File Number S7– 

09–14 on the subject line; or 

• Use the Federal eRulemaking Portal 

(http://www.regulations.gov). Follow the 

instructions for submitting comments. 

Paper Comments 

• Send paper comments to Kevin M. 

O’Neill, Deputy Secretary, Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549–1090. 

All submissions should refer to File 

Number S7–09–14. This file number 

should be included on the subject line 

if email is used. To help us process and 

review your comments more efficiently, 

please use only one method. We will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/

rules/proposed.shtml). Comments also 

are available for Web site viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE., 

Washington, DC 20549, on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. All comments 

received will be posted without change; 

we do not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. 

FOR FURTHER INFORMATION CONTACT: 

Andrew Schoeffler, Special Counsel, 

Office of Capital Markets Trends, 

Division of Corporation Finance, at 

(202) 551–3860, U.S. Securities and 

Exchange Commission, 100 F Street NE., 

Washington, DC 20549–3628. 

SUPPLEMENTARY INFORMATION: We are 

proposing Rule 135d under the 

Securities Act of 1933 (‘‘Securities 

Act’’).1

I. Background 

On July 21, 2010, the President signed 

the Dodd-Frank Wall Street Reform and 

Consumer Protection Act (‘‘Dodd-Frank 

Act’’) 2 into law. Title VII of the DoddFrank Act (‘‘Title VII’’) provides the 

Securities and Exchange Commission 

(‘‘SEC’’ or the ‘‘Commission’’) and the 

Commodity Futures Trading 

Commission (‘‘CFTC’’) with the 

authority to regulate over-the-counter 

derivatives. Under Title VII, the CFTC 

regulates ‘‘swaps,’’ the SEC regulates 

‘‘security-based swaps,’’ and the CFTC 

and SEC jointly regulate ‘‘mixed 

swaps.’’ 3

Title VII amended the Securities Act 

and the Securities Exchange Act of 1934 

(‘‘Exchange Act’’) 4 to include ‘‘securitybased swaps’’ in the definition of 

‘‘security’’ for purposes of those 

statutes. 5 As a result, ‘‘security-based 

swaps’’ are subject to the provisions of 

the Securities Act and the Exchange Act 

and the rules and regulations 

thereunder applicable to securities. The 

Securities Act requires that any offer 

and sale of a security must either be 

registered under the Securities Act or be 

made pursuant to an exemption from 

registration.6 As a result, counterparties 

entering into security-based swap 

transactions need either to rely on an 

available exemption from the 

registration requirements of the 

Securities Act or register such 

transactions. Title VII amended the 

Securities Act to require that securitybased swap transactions involving 

persons who are not eligible contract 

participants 7 must be registered under 

the Securities Act.8


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