Federal Register / Vol. 69, No. 193 / Wednesday, October 6, 2004 / Notices 59963

Labor may grant exemptions from the 

prohibited transaction provisions of 

sections 406 and 407(a) of ERISA, and 

directs the Secretary to establish an 

exemption procedure with respect to 

such provisions. On July 31, 1996, the 

Department published Prohibited 

Transaction Exemption 96–62, which, 

pursuant to the exemption procedure set 

forth in 29 CFR 2570, subpart B, permits 

a plan to seek approval on an 

accelerated basis of otherwise 

prohibited transactions. A class 

exemption will only be granted on the 

conditions that the plan demonstrate to 

the Department that the transaction is 

substantially similar to those described 

in at least two prior individual 

exemptions granted by the Department 

and that it presents little, if any, 

opportunity for abuse or risk of loss to 

a plan’s participants and beneficiaries. 

This ICR is intended to provide the 

Department with sufficient information 

to support a finding that the exemption 

meets the statutory standards of section 

408(a) of ERISA, and to provide affected 

parties with the opportunity to 

comment on the proposed transaction, 

while at the same time reducing the 

regulatory burden associated with 

processing individual exemptions for 

transactions prohibited under ERISA. 

II. Review Focus 

The Department is particularly 

interested in comments that: 

• Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of the agency, including 

whether the information will have 

practical utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submissions 

of responses. 

III. Current Actions 

The Office of Management and 

Budget’s (OMB) approval of this ICR 

will expire on November 30, 2004. After 

considering comments received in 

response to this notice, the Department 

intends to submit the ICR to OMB for 

continuing approval. No change to the 

existing ICR is proposed or made at this 

time. 

Agency: Employee Benefits Security 

Administration. 

Title: Prohibited Transaction 

Exemption 96–62; Accelerated Approval 

of an Otherwise Prohibited Transaction. 

Type of Review: Extension of a 

currently approved collection of 

information. 

OMB Number: 1210–0098. 

Affected Public: Business or other forprofit, Not-for-profit institutions, 

Individuals. 

Total Respondents: 42. 

Total Responses: 42. 

Frequency: On occasion. 

Estimated Total Burden Hours: 53. 

Total Annual Costs (Operating and 

Maintenance): $43,491.

Dated: September 30, 2004. 

Gerald B. Lindrew, 

Deputy Director, Employee Benefits Security 

Administration, Office of Policy and 

Research.

[FR Doc. 04–22431 Filed 10–5–04; 8:45 am] 

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Employee Benefits Security 

Administration 

Proposed Extension of Information 

Collection Request Submitted for 

Public Comment and 

Recommendations Prohibited 

Transaction Class Exemption 81–8

AGENCY: Employee Benefits Security 

Administration, Department of Labor.

ACTION: Notice.

SUMMARY: The Department of Labor, as 

part of its continuing effort to reduce 

paperwork and respondent burden 

conducts a preclearance consultation 

program to provide the general public 

and other Federal agencies with an 

opportunity to comment on proposed 

and continuing collections of 

information in accordance with the 

Paperwork Reduction Act of 1995 (PRA 

95) (44 U.S.C. 3506(c)(2)(A)). This 

program helps to ensure that requested 

data can be provided in the desired 

format, reporting burden (time and 

financial resources) is minimized, 

collection instruments are clearly 

understood, and the impact of collection 

requirements on respondents can be 

properly assessed. 

Currently, the Employee Benefits 

Security Administration is soliciting 

comments concerning the proposed 

extension of a currently approved 

collection of information, Prohibited 

Transaction Class Exemption 81–8 on 

investment of plan assets in certain 

types of short-term investments. A copy 

of the proposed information collection 

request (ICR) can be obtained by 

contacting the office listed below in the 

addresses section of this notice.

DATES: Written comments must be 

submitted on or before December 6, 

2004.

ADDRESSES: Mr. Gerald B. Lindrew, 

Office of Policy and Research, U.S. 

Department of Labor, Employee Benefits 

Security Administration, 200 

Constitution Avenue, NW., Room N–

5647, Washington, DC 20210. 

Telephone: (202) 693–8410; Fax (202) 

693–4745. These are not toll-free 

numbers.

SUPPLEMENTARY INFORMATION: 

I. Background 

Prohibited Transaction Class 

Exemption 81–8 permits the investment 

of plan assets that involve the purchase 

or other acquisition, holding, sale, 

exchange or redemption by or on behalf 

of an employee benefit plan in certain 

types of short-term investments. These 

include investments in banker’s 

acceptances, commercial paper, 

repurchase agreements, certificates of 

deposit, and bank securities. Absent the 

exemption, certain aspects of these 

transactions might be prohibited by 

section 406 of the Employee Retirement 

Income Security Act (ERISA). 

Provided that the requirements of the 

exemption are met, the exemption 

allows plans to invest in certain short 

term investments in debt obligations 

issued by certain persons who provide 

services to the plan or who are affiliated 

with such service providers that 

otherwise might be prohibited under 

sections 406 and 407(a) of ERISA. 

Without this exemption, these types of 

short term transactions might not be 

permitted. 

In order to ensure that the exemption 

is not abused, that the rights of 

participants and beneficiaries are 

protected, and that the conditions of the 

exemption have been satisfied, the 

Department has included in the 

exemption two basic disclosure 

requirements. Both affect only the 

portion of the exemption dealing with 

repurchase agreements. The first 

requirement calls for the repurchase 

agreements between the seller and the 

plan to be in writing. The second 

requirement obliges the seller of such 

repurchase agreements to agree to 

provide financial statements to the plan 

at the time of the sale and as future 

statements are issued. The seller must 

also represent, either in the repurchase 

agreement or prior to the negotiation of 

59964 Federal Register / Vol. 69, No. 193 / Wednesday, October 6, 2004 / Notices 

each repurchase agreement transaction, 

that there has been no material adverse 

change in the seller’s financial 

condition since the date that the most 

recent financial statement was furnished 

which has not been disclosed to the 

plan fiduciary with whom the written 

agreement is made. 

Without the recording and disclosure 

requirements included in this ICR, 

participants and beneficiaries of a plan 

would not be protected in their 

investments, the Department would be 

unable to monitor a plan’s activities for 

compliance, and plans would be at a 

disadvantage in assessing the value of 

certain short-term investment activities. 

II. Desired Focus of Comments 

The Department of Labor is 

particularly interested in comments 

that: 

• Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of the agency, including 

whether the information will have 

practical utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; 

• Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submission of 

responses. 

III. Current Actions 

The Office of Management and 

Budget’s (OMB) approval of this ICR 

will expire on November 30, 2004. After 

considering comments received in 

response to this notice, the Department 

intends to submit the ICR to OMB for 

continuing approval. No change to the 

existing ICR is proposed or made at this 

time. 

Agency: Department of Labor, 

Employee Benefits Security 

Administration. 

Title: Prohibited Transaction Class 

Exemption 81–8 for Investment of Plan 

Assets in Certain Types of Short-Term 

Investments. 

Type of Review: Extension of a 

currently approved collection of 

information. 

OMB Number: 1210–0061. 

Affected Public: Individuals or 

households; Business or other for-profit; 

Not-for-profit institutions. 

Total Respondents: 45,969. 

Total Responses: 229,845. 

Frequency of Response: On occasion. 

Estimated Burden Hours: 31,900. 

Estimated Burden Costs: $85,000. 

Comments submitted in response to 

this notice will be summarized and/or 

included in the request for Office of 

Management and Budget approval of the 

information collection request; they will 

also become a matter of public record.

Dated: September 30, 2004. 

Gerald B. Lindrew, 

Deputy Director, Employee Benefits Security 

Administration, Office of Policy and 

Research.

[FR Doc. 04–22432 Filed 10–5–04; 8:45 am] 

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Mine Safety and Health Administration 

Proposed Information Collection 

Request Submitted for Public 

Comment and Recommendations; 

Health Standards for Diesel 

Particulates (Underground Metal and 

Nonmetal Mines)

ACTION: Extension of comment period 

for an additional 30-day period to 

accommodate request for additional 

time. 

SUMMARY: The Department of Labor, as 

part of its continuing effort to reduce 

paperwork and respondent burden 

conducts a pre-clearance consultation 

program to provide the general public 

and Federal agencies with an 

opportunity to comment on proposed 

and/or continuing collections of 

information in accordance with the 

Paperwork Reduction Act of 1995 

(PRA95) [44 U.S.C. 3506 (c)(2)(A)]. This 

program helps to ensure that requested 

data can be provided in the desired 

format, reporting burden (time and 

financial resources) is minimized, 

collection instruments are clearly 

understood, and the impact of collection 

requirements on respondents can be 

properly assessed. 

Currently, the Mine Safety and Health 

Administration (MSHA) is soliciting 

comments concerning the extension of 

the information collection related to the 

30 CFR Sections 57.5060, 57.5066, 

57.5070, 57.5071, and 57.5075—Health 

Standards for Diesel Particulates 

(Underground Metal and Nonmetal 

Mines). The notice was published on 

August 11, 2004 (69 FR 48897).

DATES: Submit comments on or before 

December 6, 2004

ADDRESSES: Send comments to Melissa 

Stoehr, Acting Chief, Records 

Management Branch, 1100 Wilson 

Boulevard, Room 2134, Arlington, VA 

22209–3939. Commenters are 

encouraged to send their comments on 

computer disk, or via E-mail to 

stoehr.melissa@dol.gov. Ms. Stoehr can 

be reached at (202) 693–9827 (voice), or 

(202) 693–9801 (facsimile).

FOR FURTHER INFORMATION CONTACT:

Contact the employee listed in the 

ADDRESSES section of this notice.

SUPPLEMENTARY INFORMATION: 

I. Background 

These sections require mine operators 

to take certain actions to limit the 

concentration of diesel particulate 

matter (DPM) to which metal and 

nonmetal miners are exposed in 

underground areas of a mine where 

miners normally work or travel. If a 

mine has technological constraints in 

meeting this time requirement, then the 

mine operator can file a special 

extension application after January 19, 

2006, under § 57.5060(c). Section 

57.5071 requires mine operators to 

sample the air as often as necessary to 

determine that DPM concentrations do 

not exceed the limit. Also under this 

section, if a mine environment is above 

the DPM concentration limit, mine 

operators will have to take corrective 

actions and post the corrective actions 

taken. Mine operators must also provide 

adequate respiratory protection to 

overexposed miners and enroll them in 

a respiratory protection program until 

engineering and administrative controls 

are shown to be effective in limiting the 

DPM levels to the concentration limit. 

Mine operators must also take certain 

actions to ensure that diesel-powered 

equipment is maintained and operated 

in a manner that will limit DPM 

exposures. Section 57.5066(b) requires 

mine operators to tag diesel-powered 

equipment at any time there is any 

apparent emission-related defect in the 

equipment.

Each time that there is an emission 

related problem on a diesel-powered 

machine and the machine is tagged, 

there also must be a record made of the 

equipment tagged. For each diesel 

machine that has been tagged, an 

examination must be conducted 

concerning the tagged equipment and a 

record must be made of the 

examination. Section 57.5066(c) 

requires operators to assure that miners 

performing emissions-related 

maintenance have adequate training or