76498 Federal Register / Vol. 69, No. 244 / Tuesday, December 21, 2004 / Notices 

STP Nuclear Operating Company, 

Docket Nos. 50–498 and 50–499, South 

Texas Project, Units 1 and 2, Matagorda 

County, Texas 

Date of amendment request: August 

12, 2004, as superseded by letter dated 

October 5, 2004, as supplemented by 

letter dated October 11, 2004. 

Brief description of amendments: The 

amendments revise Technical 

Specification (TS) 3/4.4.5, in 

conjunction with the new 

administrative control TS 6.8.3.o and 

reporting requirement TS 6.9.1.7, to 

establish a new programmatic, largely 

performance-based framework for 

ensuring SG tube integrity. The reactor 

coolant system leakage requirements of 

TS 3.4.6.2 are also revised. 

Date of issuance: November 24, 2004. 

Effective date: As of the date of 

issuance and shall be implemented 

within 60 days of issuance. 

Amendment Nos.: Unit 1—164; Unit 

2—154. 

Facility Operating License Nos. NPF–

76 and NPF–80: The amendments 

revised the Technical Specifications. 

Date of initial notice in Federal 

Register: August 31, 2004 (69 FR 

53113). The October 5, 2004, letter 

which superseded the August 12, 2004, 

letter and the supplement dated October 

11, 2004, provided additional 

information that clarified the 

application, did not expand the scope of 

the application as originally noticed, 

and did not significantly change the 

staff’s original proposed no significant 

hazards consideration determination as 

published in the Federal Register. 

The Commission’s related evaluation 

of the amendments is contained in a 

Safety Evaluation dated November 24, 

2004. 

No significant hazards consideration 

comments received: No. 

STP Nuclear Operating Company, 

Docket Nos. 50–498 and 50–499, South 

Texas Project, Units 1 and 2, Matagorda 

County, Texas 

Date of amendment request: August 

26, 2004. 

Brief description of amendments: The 

amendments eliminate the requirements 

in the TS associated with hydrogen 

recombiners and hydrogen monitors. A 

notice of availability for this TS 

improvement using the consolidated 

line item improvement process was 

published in the Federal Register on 

September 25, 2003 (68 FR 55416). 

Date of issuance: November 30, 2004. 

Effective date: As of the date of 

issuance and shall be implemented 

within 60 days of issuance. 

Amendment Nos.: Unit 1—165; Unit 

2—155. 

Facility Operating License Nos. NPF–

76 and NPF–80: The amendments 

revised the Technical Specifications. 

Date of initial notice in Federal 

Register: September 28, 2004 (69 FR 

57996). 

The Commission’s related evaluation 

of the amendments is contained in a 

Safety Evaluation dated November 30, 

2004. 

No significant hazards consideration 

comments received: No.

Dated at Rockville, Maryland, this 13th day 

of December 2004.

For the Nuclear Regulatory Commission. 

James E. Lyons, 

Deputy Director, Division of Licensing Project 

Management, Office of Nuclear Reactor 

Regulation.

[FR Doc. 04–27614 Filed 12–20–04; 8:45 am] 

BILLING CODE 7590–01–P

SECURITIES AND EXCHANGE 

COMMISSION 

[Release Nos. 33–8514; 34–50864; File No. 

265–23] 

Advisory Committee on Smaller Public 

Companies

AGENCY: Securities and Exchange 

Commission.

ACTION: Notice of establishment of the 

Advisory Committee on Smaller Public 

Companies. 

SUMMARY: The Chairman of the 

Securities and Exchange Commission 

(‘‘Commission’’), with the concurrence 

of the other Commissioners, intends to 

establish the Securities and Exchange 

Commission Advisory Committee on 

Smaller Public Companies to assist the 

Commission in evaluating the current 

securities regulatory system relating to 

disclosure, financial reporting, internal 

controls, and offering exemptions for 

smaller public companies.

FOR FURTHER INFORMATION CONTACT:

Gerald J. Laporte, Chief, or Kevin M. 

O’Neill, Special Counsel, at (202) 942–

2950, Office of Small Business Policy, 

Division of Corporation Finance, 

Securities and Exchange Commission, 

450 Fifth Street, NW., Washington, DC 

20549–0310.

SUPPLEMENTARY INFORMATION: In 

accordance with the requirements of the 

Federal Advisory Committee Act, 5 

U.S.C. App. 1, the Securities and 

Exchange Commission (‘‘Commission’’) 

is publishing this notice that the 

Chairman of the Commission, with the 

concurrence of the other 

Commissioners, intends to establish the 

Securities and Exchange Commission 

Advisory Committee on Smaller Public 

Companies (the ‘‘Committee’’). The 

Committee’s objective is to assess the 

impact of the current regulatory system 

for smaller companies under the 

securities laws of the United States and 

make recommendations for changes. 

To achieve the Committee’s goals, 

between 11 and 21 members will be 

appointed who can represent effectively 

the varied interests affected by the range 

of issues to be considered. The 

Committee’s membership may include 

officers and directors of smaller 

companies; accountants, lawyers and 

other professional service providers to 

smaller companies; regulators; 

investors; and members of the public at 

large. The Committee’s membership will 

be fairly balanced in terms of the points 

of view represented and the functions to 

be performed. 

The Committee may be established 15 

days after publication of this notice in 

the Federal Register by filing a charter 

for the Committee complying with the 

Federal Advisory Committee Act with 

the Committee on Banking, Housing, 

and Urban Affairs of the United States 

Senate and the Committee on Financial 

Services of the United States House of 

Representatives. A copy of the charter 

also will be filed with the Chairman of 

the Commission, furnished to the 

Library of Congress, placed in the Public 

Reference Room at the Commission’s 

headquarters and posted on the 

Commission’s Internet Web site at 

www.sec.gov/info/smallbus.shtml. The 

Committee’s charter is expected to 

direct it to consider the following areas, 

including the impact in each area of the 

Sarbanes-Oxley Act of 2002, Pub. L. 

107–204, 116 Stat. 745 (July 30, 2002): 

• Corporate disclosure and reporting 

requirements and federally-imposed 

corporate governance requirements for 

smaller public companies, including 

differing regulatory requirements based 

on market capitalization, other 

measurements of size or market 

characteristics;

• Accounting standards and financial 

reporting requirements applicable to 

smaller public companies; 

• Frameworks for internal control over 

financial reporting applicable to smaller 

public companies, methods for 

management’s assessment of such 

internal control, and standards for 

auditing such internal control; and 

•The process, requirements and 

exemptions relating to offerings of 

securities by smaller companies, 

particularly public offerings. 

The charter will direct the Committee 

to conduct its work with a view to 

protecting investors, considering 

whether the costs imposed by the 

current securities regulatory system for 

Federal Register / Vol. 69, No. 244 / Tuesday, December 21, 2004 / Notices 76499

1The Commission notes that the CSE changed its 

name to the National Stock Exchange, Inc. See

Securities Exchange Act Release No. 48774 

(November 12, 2003), 68 FR 65332 (November 19, 

2003) (File No. SR–CSE–2003–12).

2PCX and its subsidiary the Archipelago 

Exchange were elected co-chairs of the operating 

committee (‘‘Operating Committee’’ or 

‘‘Committee’’) for the Joint Self-Regulatory 

Organization Plan Governing the Collection, 

Consolidation and Dissemination of Quotation and 

Transaction Information for Nasdaq-Listed 

Securities Traded on Exchanges on an Unlisted 

Trading Privilege Basis (‘‘Nasdaq UTP Plan’’ or 

‘‘Plan’’) by the Participants.

3See letter from Bridget M. Farrell, Co-Chairman, 

and Michael P. Rountree, Co-Chairman, Plan 

Operating Committee, to Jonathan G. Katz, 

Secretary, Commission, dated December 14, 2004.

4 17 CFR 240.11Aa3–2(c)(4).

5 17 CFR 240.11Aa3–2(c)(4).

6Section VI.C.1. of the Plan, as approved by the 

Operating Committee in the 13th Amendment, 

states that ‘‘[t]he Processor shall disseminate on the 

UTP Quote Data Feed the best bid and offer 

information supplied by each Participant, including 

the NASD. * * *’’

7 17 CFR 240.11Aa3–2(a).

8 17 CFR 240.11Aa3–2(d). Commission Rule 

11Aa3–2(d) requires a self-regulatory organization 

participant of national market system plan to 

comply with the terms of that plan.

9See Securities Exchange Act Release No. 46139 

(June 28, 2001), 67 FR 44888 (July 5, 2002) (‘‘13th 

Amendment Notice’’).

10See Securities Exchange Act Release No. 43863 

(January 19, 2001), 66 FR 8020 (January 26, 2001).

11 17 CFR 240.11Aa3–2.

smaller companies are proportionate to 

the benefits, identifying methods of 

minimizing costs and maximizing 

benefits, and facilitating capital 

formation by smaller companies. The 

Commission expects that the Committee 

will provide recommendations as to 

where and how the Commission would 

draw lines to demarcate companies that 

warrant tailored regulatory treatment 

based on size. 

The Committee will operate for 

approximately 13 months from the date 

it is established unless, before the 

expiration of that time period, its 

charter is extended or renewed in 

accordance with the Federal Advisory 

Committee Act or unless the 

Commission determines that the 

Committee’s continuance is no longer in 

the public interest. 

The Committee will meet at such 

intervals as are necessary to carry out its 

functions. The charter is expected to 

provide that meetings of the full 

Committee will occur no more 

frequently than six times per year. 

Meetings of subgroups of the full 

Committee may occur more frequently. 

The charter will provide that the 

duties of the Committee are to be solely 

advisory. The Commission alone will 

make any determinations of action to be 

taken and policy to be expressed with 

respect to matters within the 

Commission’s authority with respect to 

which the Committee provides advice or 

makes recommendations. 

The Chairman of the Commission 

affirms that that establishment of the 

Committee is necessary and in the 

public interest.

By the Commission. 

Dated: December 16, 2004.

Jonathan G. Katz, 

Secretary.

[FR Doc. 04–27862 Filed 12–20–04; 8:45 am] 

BILLING CODE 8010–01–Mt

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–50855; File No. S7–24–89] 

Joint Industry Plan; Solicitation of 

Comments and Order Granting 

Summary Effectiveness To Request To 

Extend the Operation of the Reporting 

Plan for Nasdaq-Listed Securities 

Traded on Exchanges on an Unlisted 

Trading Privilege Basis, Submitted by 

the Pacific Exchange, Inc., the National 

Association of Securities Dealers, Inc., 

the American Stock Exchange LLC, the 

Boston Stock Exchange, Inc., the 

Chicago Stock Exchange, Inc., the 

Cincinnati Stock Exchange, Inc., and 

the Philadelphia Stock Exchange, Inc. 

and To Extend Certain Exemptive 

Relief 

December 14, 2004. 

I. Introduction and Description 

On December 14, 2004, the Pacific 

Exchange, Inc. (‘‘PCX’’) on behalf of 

itself and the National Association of 

Securities Dealers, Inc. (‘‘NASD’’), the 

American Stock Exchange LLC 

(‘‘Amex’’), the Boston Stock Exchange, 

Inc. (‘‘BSE’’), the Chicago Stock 

Exchange, Inc. (‘‘CHX’’), the Cincinnati 

Stock Exchange, Inc. (‘‘CSE’’),1 and the 

Philadelphia Stock Exchange, Inc. 

(‘‘PHLX’’) (hereinafter referred to 

collectively as ‘‘Participants’’),2 as 

members of the operating committee 

(‘‘Operating Committee’’ or 

‘‘Committee’’) of the Plan submitted to 

the Securities and Exchange 

Commission (‘‘Commission’’) a request 

to extend the operation of the Plan and 

also to extend certain exemptive relief 

as described below.3

The Nasdaq UTP Plan governs the 

collection, processing, and 

dissemination on a consolidated basis of 

quotation and last sale information for 

each of its Participants. This 

consolidated information informs 

investors of the current quotation and 

recent trade prices of The Nasdaq Stock 

Market, Inc. (‘‘Nasdaq’’) securities. It 

enables investors to ascertain from one 

data source the current prices in all the 

markets trading Nasdaq securities. The 

Plan serves as the required transaction 

reporting plan for its Participants, 

which is a prerequisite for their trading 

Nasdaq securities. Currently, the Plan is 

scheduled to expire on December 15, 

2004. 

This order grants summary 

effectiveness, pursuant to Rule 11Aa3–

2(c)(4) under the Securities Exchange 

Act of 1934 (‘‘Act’’),4 to the request to 

extend operation of the Plan, as 

modified by all changes previously 

approved, and to the request to extend 

certain exemptive relief (‘‘Date 

Extension’’). Pursuant to Rule 11Aa3–

2(c)(4) under the Act,5 the Date 

Extension will be effective summarily 

upon publication in the Federal 

Register on temporary basis not to 

exceed 120 days.

II. Exemptive Relief 

While both Nasdaq and the NASD 

operate under the umbrella of a single 

Plan Participant, the submission of two 

distinct best bids and offers (‘‘BBOs’’) 

could be deemed inconsistent with 

Section VI.C.1 of the Plan.6 Pursuant to 

the 13th Amendment of the Plan and 

Rule 11Aa3–2(a),7 Nasdaq cannot be 

granted Plan Participant status until it is 

registered as a national securities 

exchange. While Nasdaq submits a 

distinct BBO from the NASD and until 

Nasdaq is registered as a national 

securities exchange, the NASD will 

submit quotes to the Plan’s Securities 

Information Processor (‘‘SIP’’) in a 

manner different than specified in 

Section VI.C.1. of the Plan and, thus, in 

conflict with Commission Rule 11Aa3–

2(d).8

As discussed at length in the notice of 

the 13th Amendment,9 the Commission 

had determined to relieve the potential 

conflict among the SuperMontage 

approval order,10 Rule 11Aa3–2,11 and