Federal Register / Vol. 62, No. 94 / Thursday, May 15, 1997 / Notices 26831

petition must satisfy the specificity

requirements described above.

Not later than 15 days prior to the first

prehearing conference scheduled in the

proceeding, a petitioner shall file a

supplement to the petition to intervene

which must include a list of the

contentions which are sought to be

litigated in the matter. Each contention

must consist of a specific statement of

the issue of law or fact to be raised or

controverted. In addition, the petitioner

shall provide a brief explanation of the

bases of the contention and a concise

statement of the alleged facts or expert

opinion which support the contention

and on which the petitioner intends to

rely in proving the contention at the

hearing. The petitioner must also

provide references to those specific

sources and documents of which the

petitioner is aware and on which the

petitioner intends to rely to establish

those facts or expert opinion. The

petitioner must provide sufficient

information to show that a genuine

dispute exists with the applicant on a

material issue of law or fact.

Contentions shall be limited to matters

within the scope of the amendment

under consideration. The contention

must be one which, if proven, would

entitle the petitioner to relief. A

petitioner who fails to file such a

supplement which satisfies these

requirements with respect to at least one

contention will not be permitted to

participate as a party.

Those permitted to intervene become

parties to the proceeding, subject to any

limitations in the order granting leave to

intervene, and have the opportunity to

participate fully in the conduct of the

hearing, including the opportunity to

present evidence and cross-examine

witnesses.

If a hearing is requested, the

Commission will make a final

determination on the issue of no

significant hazards consideration. The

final determination will serve to decide

when the hearing is held.

If the final determination is that the

amendment request involves no

significant hazards consideration, the

Commission may issue the amendment

and make it immediately effective,

notwithstanding the request for a

hearing. Any hearing held would take

place after issuance of the amendment.

If the final determination is that the

amendment request involves a

significant hazards consideration, any

hearing held would take place before

the issuance of any amendment.

A request for a hearing or a petition

for leave to intervene must be filed with

the Secretary of the Commission, U.S.

Nuclear Regulatory Commission,

Washington, DC 20555, Attention:

Docketing and Services Branch, or may

be delivered to the Commission’s Public

Document Room, the Gelman Building,

2120 L Street, NW., Washington, DC, by

the above date. Where petitions are filed

during the last 10 days of the notice

period, it is requested that the petitioner

promptly so inform the Commission by

a toll-free telephone call to Western

Union at 1–800–248–5100 (in Missouri,

1–800–342–6700). The Western Union

operator should be given Datagram

Identification Number N1023 and the

following message addressed to Gail H.

Marcus: petitioner’s name and

telephone number, date petition was

mailed, plant name, and publication

date and page number of this Federal

Register notice. A copy of the petition

should also be sent to the Office of the

General Counsel, U.S. Nuclear

Regulatory Commission, Washington,

DC 20555, and to Bradley D. Jackson,

Esq., Foley and Lardner, P.O. Box 1497,

Madison, WI 53701–1497, attorney for

the licensee.

Nontimely filings of petitions for

leave to intervene, amended petitions,

supplemental petitions and/or requests

for hearing will not be entertained

absent a determination by the

Commission, the presiding officer or the

presiding Atomic Safety and Licensing

Board that the petition and/or request

should be granted based upon a

balancing of the factors specified in 10

CFR 2.714(a)(1)(i)-(v) and 2.714(d).

For further details with respect to this

action, see the application for

amendment dated May 2, 1997, which

is available for public inspection at the

Commission’s Public Document Room,

the Gelman Building, 2120 L Street,

NW., Washington, DC, and at the local

public document room located at the

University of Wisconsin, Cofrin Library,

2420 Nicolet Drive, Green Bay, WI.

Dated at Rockville, Maryland, this 8th day

of May 1997.

For the Nuclear Regulatory Commission.

Richard J. Laufer,

Project Manager, Project Directorate III–3,

Division of Reactor Projects III/IV, Office of

Nuclear Reactor Regulation.

[FR Doc. 97–12735 Filed 5–14–97; 8:45 am]

BILLING CODE 7590–01–P

PENSION BENEFIT GUARANTY

CORPORATION

Interest Assumption for Determining

Variable-Rate Premium; Interest

Assumptions for Multiemployer Plan

Valuations Following Mass Withdrawal

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Notice of interest rates and

assumptions.

SUMMARY: This notice informs the public

of the interest rates and assumptions to

be used under certain Pension Benefit

Guaranty Corporation regulations. These

rates and assumptions are published

elsewhere (or are derivable from rates

published elsewhere), but are collected

and published in this notice for the

convenience of the public. Interest rates

are also published on the PBGC’s home

page (http://www.pbgc.gov).

DATES: The interest rate for determining

the variable-rate premium under part

4006 applies to premium payment years

beginning in May 1997. The interest

assumptions for performing

multiemployer plan valuations

following mass withdrawal under part

4281 apply to valuation dates occurring

in June 1997.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General

Counsel, Office of the General Counsel,

Pension Benefit Guaranty Corporation,

1200 K Street, NW., Washington, DC

20005, 202–326–4024 (202–326–4179

for TTY and TDD).

SUPPLEMENTARY INFORMATION:

Variable-Rate Premiums

Section 4006(a)(3)(E)(iii)(II) of the

Employee Retirement Income Security

Act of 1974 and § 4006.4(b)(1) of the

PBGC’s regulation on Premium Rates

(29 CFR part 4006) prescribe use of an

assumed interest rate in determining a

single-employer plan’s variable-rate

premium. The rate is a specified

percentage (currently 80 percent) of the

annual yield on 30-year Treasury

securities for the month preceding the

beginning of the plan year for which

premiums are being paid (the ‘‘premium

payment year’’). The yield figure is

reported in Federal Reserve Statistical

Releases G.13 and H.15.

The assumed interest rate to be used

in determining variable-rate premiums

for premium payment years beginning

in May 1997 (i.e., 80 percent of the yield

figure for April 1997) is 5.67 percent.

The following table lists the assumed

interest rates to be used in determining

variable-rate premiums for premium

payment years beginning between June

1996 and May 1997.

For premium payment years beginning in:

The required

interest

rate is:

June 1996 ....................................... 5.54

July 1996 ........................................ 5.65

August 1996 .................................... 5.62

September 1996 ............................. 5.47

October 1996 .................................. 5.62
26832 Federal Register / Vol. 62, No. 94 / Thursday, May 15, 1997 / Notices

1 15 U.S.C. 78s(b)(1).

2Securities Exchange Act Release No. 38437

(Mar. 25, 1997), 62 FR 15552 (Apr. 1, 1997)

(publishing notice of File No. SR–Amex–97–14).

3Securities Exchange Act Release No. 31118

(Aug. 28, 1992), 57 FR 40484 (Sept. 3, 1992)

(approving File No. SR–Amex–91–07); Securities

Exchange Act Release No. 35537 (Mar. 27, 1995), 60

FR 16894 (Apr. 3, 1995) (approving File No. SR–

Amex–95–02).

4The Commission notes that it approved the

Amex’s proposal on May 5, 1997, and the Amex

began trading Amex-listed securities priced at or

above $10 in sixteenths on May 7, 1997. Securities

Exchange Act Release No. 38571 (May 5, 1997).

5 15 U.S.C. 78f(b)(5).

6 15 U.S.C. 78s(b)(3)(A).

7 17 CFR 240.19b–4.

For premium payment years beginning in:

The required

interest

rate is:

November 1996 .............................. 5.45

December 1996 .............................. 5.18

January 1997 .................................. 5.24

February 1997 ................................ 5.46

March 1997 ..................................... 5.35

April 1997 ........................................ 5.54

May 1997 ........................................ 5.67

Multiemployer Plan Valuations

Following Mass Withdrawal

The PBGC’s regulation on Duties of

Plan Sponsor Following Mass

Withdrawal (29 CFR part 4281)

prescribes the use of interest

assumptions under the PBGC’s

regulation on Allocation of Assets in

Single-employer Plans (29 CFR part

4044). The interest assumptions

applicable to valuation dates in June

1997 under part 4044 are contained in

an amendment to part 4044 published

elsewhere in today’s Federal Register.

Tables showing the assumptions

applicable to prior periods are codified

in appendix B to 29 CFR part 4044.

Issued in Washington, D.C., on this 12th

day of May 1997.

John Seal,

Acting Executive Director, Pension Benefit

Guaranty Corporation.

[FR Doc. 97–12775 Filed 5–14–97; 8:45 am]

BILLING CODE 7708–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–38590; File No. SR–CHX–

97–08]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the

Chicago Stock Exchange, Incorporated

Relating to Trading in Sixteenths

May 9, 1997.

Pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’),1 notice is hereby given that on

May 7, 1997 the Chicago Stock

Exchange, Incorporated (‘‘CHX’’ or

‘‘Exchange’’) filed with the Securities

and Exchange Commission

(‘‘Commission’’) the proposed rule

change as described in Items I, II, and

III below, which Items have been

prepared by the self-regulatory

organization. The Commission is

publishing this notice to solicit

comments on the proposed rule change

from interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Exchange proposes to add

interpretation and policy .01 to Rule 22

of Article XX of the Exchange’s Rules.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission, the

self-regulatory organization included

statements concerning the purpose of

and basis for the proposed rule change

and discussed any comments it received

on the proposed rule change. The text

of these statements may be examined at

the places specified in Item IV below.

The self-regulatory organization has

prepared summaries, set forth in

Sections A, B, and C below, of the most

significant aspects of such statements.

A. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

1. Purpose

As described below, the purpose of

the proposed rule change is to provide

for bids and offers to be made in a

minimum variation of one-sixteenth of

$1.00 for securities dually traded on the

Exchange and on the American Stock

Exchange, Inc. (‘‘Amex’’) that are priced

above $0.25.

On March 14, 1997, the Amex

submitted a proposed rule change to the

Commission requesting approval to

trade Amex securities that are priced

$10 and higher in minimum fractional

changes of 1⁄16 of $1.00 per share.2 The

Commission has already approved these

changes for Amex securities selling

under $10 and above $0.25.3

Unlike the Amex’s minimum

fractional change rule, the Exchange’s

Minimum Fractional Changes rule (Art.

XX, Rule 22) provides that, for most

securities, the minimum fractional

change for bids and offers is 1⁄8 of $1.00

per share. This rule also gives the

Exchange’s Committee on Floor

Procedure the authority to fix minimum

variations of less than this amount for

bids and offers in specific securities or

classes of securities. Pursuant to this

authority, the Exchange proposes to

change its minimum variation to 1⁄16 of

$1.00 per share, for securities traded on

both the CHX and the Amex that are

selling above $0.25. This change will

become effective upon the

Commission’s approval and

implementation of SR–Amex–97–14.4

2. Statutory Basis

The Exchange believes the proposed

rule change is consistent with section

6(b)(5) of the Act in that it is designed

to promote just and equitable principles

of trade, to remove impediments and to

perfect the mechanism of a free and

open market and a national market

system, and, in general, to protect

investors and the public interest.5

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange believes the proposed

rule change does not impose any burden

on competition that is not necessary or

appropriate in furtherance of the

purposes of the Act.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members Participants, or Others

The Exchange has neither solicited

nor received written comments on the

proposed rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The foregoing rule change constitutes

a state policy, practice, or interpretation

with respect to the meaning,

administration, or enforcement of an

existing rule of the Exchange pursuant

to Section 19(b)(3)(A) of the Act 6 and

subparagraph (e) of Rule 19b–4

thereunder.7 At any time within sixty

days of the filing of such proposed rule

change, the Commission may summarily

abrogate such rule change if it appears

to the Commission that such action is

necessary or appropriate in the public

interest, for the protection of investors,

or otherwise in furtherance of the

purposes of the Act.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange