Federal Register / Vol. 78, No. 216 / Thursday, November 7, 2013 / Notices 66955 

1The Department has considered exemption 

applications received prior to December 27, 2011 

under the exemption procedures set forth in 29 CFR 

Part 2570, Subpart B (55 FR 32836, 32847, August 

10, 1990). 

(1) 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; 

(2) 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; 

(3) Enhance the quality, utility and 

clarity of the information to be 

collected; and 

(4) 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. 

Overview of this information 

collection: 

(1) Type of information collection: 

New collection under activities related 

to the National Crime Victimization 

Survey Redesign Research (NCVS–RR) 

program: Methodological Research to 

Support the National Crime 

Victimization Survey: Self-Report Data 

on Rape and Sexual Assault—Pilot Test. 

(2) Title of the Form/Collection: 

National Survey on Health and Safety 

(NSHS). 

(3) Agency form number, if any, and 

the applicable component of the 

department sponsoring the collection: 

NSHS1; NSHS2; NSHS3; and NSHS4, 

Bureau of Justice Statistics, Office of 

Justice Programs, Department of Justice. 

(4) Affected public who will be asked 

or required to respond, as well as a brief 

abstract. Primary: Females ages 18 or 

older in 5 Core Based Statistical Areas 

(CBSAs) in the United States. These 

CBSAs include— 

• New York-Northern New JerseyLong Island, NY–NJ–PA; 

• Los Angeles-Long Beach-Santa Ana, 

CA; 

• Miami-Fort Lauderdale-Pompano 

Beach, FL; 

• Dallas-Fort Worth-Arlington-TX; 

and 

• Phoenix-Mesa-Glendale, AZ. 

The NSHS will test alternative survey 

methods for measuring rape and sexual 

assault and develop improved collection 

procedures for these crimes. 

(5) An estimate of the total number of 

respondents and the amount of time 

estimated for an average respondent to 

respond/reply: 

• Approximately 50 victim service 

agencies, and 100 universities and 

colleges will be contacted to serve as 

liaisons between potential respondents 

about the survey. The average length of 

contact with these agencies is 

approximately 120 minutes per agency 

for a total of 300 burden hours. 

• Approximately, 76,740 households 

will be contacted to screen for eligible 

participants. The expected burden 

placed on these households is 4 minutes 

per household for a total of 5,116 

burden hours. 

• Approximately 19,320 females ages 

18 or older will be interviewed for 

eligibility in the NSHS. The majority of 

respondents, approximately 17,968 

(93%), will be administered only the 

screening portion of the NSHS which is 

designed to filter out those females who 

have not experienced rape or sexual 

assault. The expected burden placed on 

these respondents is 18 minutes per 

respondent for a total of 5,796 burden 

hours. 

• The complement of this group of 

respondents will be 1,352 (7%) 

identified victims of rape or sexual 

assault. The expected burden placed on 

these respondents is 15 minutes for a 

total of 338 burden hours. 

(6) An estimate of the total public 

burden (in hours) associated with the 

collection: The total respondent burden 

is approximately 11,867 hours. 

If additional information is required 

contact Jerri Murray, Department 

Clearance Officer, United States 

Department of Justice, Justice 

Management Division, Policy and 

Planning Staff, Two Constitution 

Square, 145 N Street NE., Room 3W– 

1407B, Washington, DC 20530. 

Dated: November 4, 2013. 

Jerri Murray, 

Department Clearance Officer for PRA, 

United States Department of Justice. 

[FR Doc. 2013–26687 Filed 11–6–13; 8:45 am] 

BILLING CODE 4410–18–P 

DEPARTMENT OF LABOR 

Employee Benefits Security 

Administration 

Exemptions From Certain Prohibited 

Transaction Restrictions 

AGENCY: Employee Benefits Security 

Administration, Labor. 

ACTION: Grant of individual exemptions. 

SUMMARY: This document contains 

exemptions issued by the Department of 

Labor (the Department) from certain of 

the prohibited transaction restrictions of 

the Employee Retirement Income 

Security Act of 1974 (ERISA or the Act) 

and/or the Internal Revenue Code of 

1986 (the Code). This notice includes 

the following: 2013–10, UBS AG and Its 

Current and Future Affiliates and 

Subsidiaries, D–11506; 2013–11, Wells 

Fargo Bank, N.A., D–11640; 2013–12, 

Sears Holding Savings Plan, Sears 

Holdings Puerto Rico Savings Plan and 

the Lands’ End, Inc. Retirement Plan, D– 

11739, D–11740, and D–11741; 2013– 

13, American International Group, Inc. 

Incentive Savings Plan, American 

General Agents’ & Managers’ Thrift 

Plan, and Chartis Insurance CompanyPuerto Rico Capital Growth Plan, D– 

11767, D–11768 and D–11769. 

SUPPLEMENTARY INFORMATION: A notice 

was published in the Federal Register of 

the pendency before the Department of 

a proposal to grant such exemption. The 

notice set forth a summary of facts and 

representations contained in the 

application for exemption and referred 

interested persons to the application for 

a complete statement of the facts and 

representations. The application has 

been available for public inspection at 

the Department in Washington, DC The 

notice also invited interested persons to 

submit comments on the requested 

exemption to the Department. In 

addition the notice stated that any 

interested person might submit a 

written request that a public hearing be 

held (where appropriate). The applicant 

has represented that it has complied 

with the requirements of the notification 

to interested persons. No requests for a 

hearing were received by the 

Department. Public comments were 

received by the Department as described 

in the granted exemption. 

The notice of proposed exemption 

was issued and the exemption is being 

granted solely by the Department 

because, effective December 31, 1978, 

section 102 of Reorganization Plan No. 

4 of 1978, 5 U.S.C. App. 1 (1996), 

transferred the authority of the Secretary 

of the Treasury to issue exemptions of 

the type proposed to the Secretary of 

Labor. 

Statutory Findings 

In accordance with section 408(a) of 

the Act and/or section 4975(c)(2) of the 

Code and the procedures set forth in 29 

CFR Part 2570, Subpart B (76 FR 66637, 

66644, October 27, 2011) 1 and based 

upon the entire record, the Department 

makes the following findings: 

(a) The exemption is administratively 

feasible; 

(b) The exemption is in the interests 

of the plan and its participants and 

beneficiaries; and 


tkelley on DSK3SPTVN1PROD with NOTICES
66956 Federal Register / Vol. 78, No. 216 / Thursday, November 7, 2013 / Notices 

2This exemption does not address tax issues. The 

Department has been informed by the Internal 

Revenue Service and the Department of the 

Treasury that they are considering providing 

limited relief from the requirements of sections 

72(t)(4), 401(a)(9), and 4974 of the Code with 

respect to retirement plans that hold Auction Rate 

Securities. The Department has also been informed 

by the Internal Revenue Service that if Auction Rate 

Securities are purchased from a Plan in a 

transaction described in sections I and III at a price 

that exceeds the fair market value of those 

securities, then the excess value would be treated 

as a contribution for purposes of applying 

applicable contribution and deduction limits under 

sections 219, 404, 408, and 415 of the Code. 

3The Department notes that the Act’s general 

standards of fiduciary conduct also would apply to 

the transactions described herein. In this regard, 

section 404 requires, among other things, that a 

fiduciary discharge his duties respecting a plan 

solely in the interest of the plan’s participants and 

beneficiaries and in a prudent manner. 

Accordingly, a plan fiduciary must act prudently 

with respect to, among other things, the decision to 

sell the Auction Rate Security to UBS for the par 

value of the Auction Rate Security, plus any 

accrued but unpaid interest or dividends. The 

Department further emphasizes that it expects Plan 

fiduciaries, prior to entering into any of the 

proposed transactions, to fully understand the risks 

associated with this type of transaction following 

disclosure by UBS of all relevant information. 

(c) The exemption is protective of the 

rights of the participants and 

beneficiaries of the plan. 

UBS AG and Its Current and Future 

Affiliates and Subsidiaries 

(Collectively, UBS) Located in New 

York, New York [Prohibited 

Transaction Exemption 2013–10; 

Exemption Application No. D–11506] 

Exemption 

Section I. Sales of Auction Rate 

Securities From Plans to UBS: Unrelated 

to a Settlement Agreement 

The restrictions of section 

406(a)(1)(A) and (D) and section 

406(b)(1) and (2) of the Act and the 

taxes imposed by section 4975 of the 

Code, by reason of section 4975(c)(1)(A), 

(D), and (E) of the Code, shall not apply, 

effective February 1, 2008, to the sale by 

a Plan (as defined in section V(e)) of an 

Auction Rate Security (as defined in 

section V(c)) to UBS, where such sale 

(an Unrelated Sale) is unrelated to, and 

not made in connection with, a 

Settlement Agreement (as defined in 

section V(f)), provided that the 

conditions set forth in Section II have 

been met. 

Section II. Conditions Applicable to 

Transactions Described in Section I 

(a) The Plan acquired the Auction 

Rate Security in connection with 

brokerage or advisory services provided 

by UBS; 

(b) The last auction for the Auction 

Rate Security was unsuccessful; 

(c) Except in the case of a Plan 

sponsored by UBS for its own 

employees (a UBS Plan), the Unrelated 

Sale is made pursuant to a written offer 

by UBS (the Unrelated Offer) containing 

all of the material terms of the Unrelated 

Sale, including, but not limited to, the 

most recent rate information for the 

Auction Rate Security (if reliable 

information is available). Either the 

Unrelated Offer or other materials 

available to the Plan provide the 

identity and par value of the Auction 

Rate Security. Notwithstanding the 

foregoing, in the case of a pooled fund 

maintained or advised by UBS, this 

condition shall be deemed met to the 

extent each Plan invested in the pooled 

fund (other than a UBS Plan) receives 

written notice regarding the Unrelated 

Sale, where such notice contains the 

material terms of the Unrelated Sale 

(including, but not limited to, the 

material terms described in the 

preceding sentence); 

(d) The Unrelated Sale is for no 

consideration other than cash payment 

against prompt delivery of the Auction 

Rate Security; 

(e) The sales price for the Auction 

Rate Security is equal to the par value 

of the Auction Rate Security, plus any 

accrued but unpaid interest or 

dividends; 2

(f) The Plan does not waive any rights 

or claims in connection with the 

Unrelated Sale; 

(g) The decision to accept the 

Unrelated Offer or retain the Auction 

Rate Security is made by a Plan 

fiduciary or Plan participant or 

beneficial owner of an individual 

retirement account (an IRA, as described 

in section V(e) below) who is 

independent (as defined in section V(d)) 

of UBS. Notwithstanding the foregoing: 

(1) in the case of an IRA, which is 

beneficially owned by an employee, 

officer, director or partner of UBS, or a 

relative of any such persons, the 

decision to accept the Unrelated Offer or 

retain the Auction Rate Security may be 

made by such employee, officer, 

director or partner; or (2) in the case of 

a UBS Plan or a pooled fund maintained 

or advised by UBS, the decision to 

accept the Unrelated Offer may be made 

by UBS after UBS has determined that 

such purchase is in the best interest of 

the UBS Plan or pooled fund; 3

(h) Except in the case of a UBS Plan 

or a pooled fund maintained or advised 

by UBS, neither UBS nor any affiliate 

exercises investment discretion or 

renders investment advice within the 

meaning of 29 CFR 2510.3–21(c) with 

respect to the decision to accept the 

Unrelated Offer or retain the Auction 

Rate Security; 

(i) The Plan does not pay any 

commissions or transaction costs with 

respect to the Unrelated Sale; 

(j) The Unrelated Sale is not part of an 

arrangement, agreement or 

understanding designed to benefit a 

party in interest to the Plan; 

(k) UBS and its affiliates, as 

applicable, maintain, or cause to be 

maintained, for a period of six (6) years 

from the date of the Unrelated Sale, 

such records as are necessary to enable 

the persons described below in 

paragraph (l)(1), to determine whether 

the conditions of this exemption, if 

granted, have been met, except that— 

(1) No party in interest with respect 

to a Plan which engages in an Unrelated 

Sale, other than UBS and its affiliates, 

as applicable, shall be subject to a civil 

penalty under section 502(i) of the Act 

or the taxes imposed by section 4975(a) 

and (b) of the Code, if such records are 

not maintained, or not available for 

examination, as required, below, by 

paragraph (l)(1); and 

(2) A separate prohibited transaction 

shall not be considered to have occurred 

solely because, due to circumstances 

beyond the control of UBS or its 

affiliates, as applicable, such records are 

lost or destroyed prior to the end of the 

six-year period; 

(l)(1) Except as provided below in 

paragraph (l)(2), and notwithstanding 

any provisions of subsections (a)(2) and 

(b) of section 504 of the Act, the records 

referred to above in paragraph (k) are 

unconditionally available at their 

customary location for examination 

during normal business hours by— 

(A) Any duly authorized employee or 

representative of the Department, the 

Internal Revenue Service, or the U.S. 

Securities and Exchange Commission; 

or 

(B) Any fiduciary of any Plan, 

including any IRA owner, that engages 

in a Sale, or any duly authorized 

employee or representative of such 

fiduciary; or 

(C) Any employer of participants and 

beneficiaries and any employee 

organization whose members are 

covered by a Plan that engages in the 

Unrelated Sale, or any authorized 

employee or representative of these 

entities; 

(2) None of the persons described 

above in paragraph (l)(1)(B)–(C) shall be 

authorized to examine trade secrets of 

UBS, or commercial or financial 

information which is privileged or 

confidential; and 

(3) Should UBS refuse to disclose 

information on the basis that such 

information is exempt from disclosure, 

UBS shall, by the close of the thirtieth 

(30th) day following the request, 


tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 78, No. 216 / Thursday, November 7, 2013 / Notices 66957 

provide a written notice advising that 

person of the reasons for the refusal and 

that the Department may request such 

information. 

Section III. Sales of Auction Rate 

Securities From Plans to UBS: Related 

to a Settlement Agreement 

The restrictions of section 

406(a)(1)(A) and (D) and section 

406(b)(1) and (2) of ERISA and the taxes 

imposed by section 4975 of the Code, by 

reason of section 4975(c)(1)(A), (D) and 

(E) of the Code, shall not apply, effective 

February 1, 2008, to the following 

transactions: (a) The acquisition by a 

Plan, as described in section V(e), of 

certain rights issued to owners of 

Auction Rate Securities by UBS AG 

(ARS Rights) in connection with a 

Settlement Agreement, (b) the sale of an 

Auction Rate Security to UBS pursuant 

to such ARS Rights, where such sale (a 

Settlement Sale) is related to, and made 

in connection with, a Settlement 

Agreement, and (c) the sale of an 

Auction Rate Security to UBS where 

such sale is made pursuant to Section 

15 of the Texas Settlement Agreement 

(the Section 15 Texas Settlement Sale), 

provided that the conditions set forth in 

Section IV below are met. 

Section IV. Conditions Applicable to 

Transactions Described in Section III 

(a) The terms and delivery of the offer 

of ARS Rights (the ARS Rights Offer) are 

consistent with the requirements set 

forth in the Settlement Agreement; 

(b) UBS sends notice of the ARS 

Rights Offer to the Plans, including an 

explanatory cover letter and prospectus 

for the ARS Rights under the Securities 

Act of 1933 (the Securities Act), as 

amended. Notwithstanding the above, 

notice is not required to be sent to the 

underlying investors in pooled funds 

maintained or advised by UBS (but shall 

be provided to the pooled funds); 

(c) Under the terms of the ARS Rights 

Offer, over certain periods of time 

described below (the Exercise Periods), 

Eligible Customers who accept the ARS 

Rights Offer are entitled to put (i.e., 

sell), for par value (plus accrued but 

unpaid interest or dividends), any of 

their Auction Rate Securities to UBS at 

a time of their choosing, and UBS is 

entitled to call any of those Auction 

Rate Securities at any time, for par value 

(plus accrued but unpaid interest or 

dividends). 

(d) Eligible Customers holding ARS 

Rights who validly accept the ARS 

Rights Offer will grant to UBS the sole 

discretion and right to sell or otherwise 

dispose of, and/or enter orders in the 

auction process with respect to, the 

Eligible Customers’ eligible Auction 

Rate Securities on their behalf until the 

expiration date of the related ARS Right, 

without prior notification, so long as the 

Eligible Customers receive a payment of 

par plus accrued but unpaid interest or 

dividends upon any sale or disposition; 

(e) Plans pay no commissions or 

transaction costs in connection with the 

acquisition of ARS Rights; 

(f) In the case of a UBS Plan or pooled 

fund advised by UBS, the decision to 

accept the ARS Rights Offer and any 

subsequent decision to put Auction Rate 

Securities to UBS or, under the Texas 

Settlement, sell the Auction Rate 

Securities to UBS, may be made by UBS 

after UBS has determined that such 

transaction is in the best interest of the 

UBS Plan or pooled fund. 

(g) In the case of an IRA owned by an 

employee, officer, director or partner of 

UBS or a relative of any such persons, 

the IRA owner makes an independent 

determination whether to accept the 

ARS Rights Offer and any subsequent 

decision to put Auction Rate Securities 

to UBS or, under the Texas Settlement, 

sell the Auction Rate Securities to UBS; 

(h) In the case of Plans not described 

in paragraph IV(f) or IV(g) above, a 

person independent of UBS makes the 

determination whether to accept the 

ARS Rights Offer and any subsequent 

decision to put Auction Rate Securities 

to UBS during the applicable Exercise 

Period or, under the Texas Settlement, 

sell the Auction Rate Securities to UBS, 

except with respect to permitted calls 

under the ARS Rights, consistent with a 

registration statement under the 

Securities Act, as amended; 

(i) The ARS Rights Offer, or other 

documents available to the Plan, 

specifically describe, among other 

things: 

(1) How a Plan may determine: the 

Auction Rate Securities held by the Plan 

with UBS, the purchase dates for the 

Auction Rate Securities, and (if reliable 

information is available) the most recent 

rate information for the Auction Rate 

Securities; 

(2) The number of shares and par 

value of the Auction Rate Securities 

available for purchase under the ARS 

Rights Offer; 

(3) The background of the ARS Rights 

Offer; 

(4) That participating in the ARS 

Rights Offer will not result in or 

constitute a waiver of any claim of the 

tendering Plan; 

(5) The methods and timing by which 

Plans may accept the ARS Rights Offer; 

(6) The purchase dates, or the manner 

of determining the purchase dates, for 

Auction Rate Securities tendered 

pursuant to the ARS Rights Offer; 

(7) The timing for acceptance by UBS 

of tendered Auction Rate Securities; 

(8) The timing of payment for Auction 

Rate Securities accepted by UBS for 

payment; 

(9) The expiration date of the ARS 

Rights Offer; 

(10) The fact that UBS may make 

purchases of Auction Rate Securities 

outside of the ARS Rights Offer and may 

otherwise buy, sell, hold or seek to 

restructure, redeem or otherwise 

dispose of the Auction Rate Securities; 

(11) A description of the risk factors 

relating to the ARS Rights Offer as UBS 

deems appropriate; 

(12) How to obtain additional 

information concerning the ARS Rights 

Offer; and 

(13) The manner in which 

information concerning material 

amendments or changes to the ARS 

Rights Offer will be communicated to 

affected Plans; 

(j) The terms of any Settlement Sale 

or Section 15 Texas Settlement Sale are 

consistent with the requirements set 

forth in the applicable Settlement 

Agreement and, where applicable, the 

terms set forth in the ARS Rights 

prospectus. 

(k) All of the conditions in Section II 

have been met with respect to the ARS 

Rights Offer; and 

(l) All of the conditions in Section 15 

of the Texas Settlement Agreement have 

been met with respect to any Section 15 

Texas Settlement Sale. 

Section V. Definitions 

For purposes of this exemption: 

(a) The term affiliate means: Any 

person directly or indirectly, through 

one or more intermediaries, controlling, 

controlled by, or under common control 

with such other person; 

(b) The term control means: The 

power to exercise a controlling 

influence over the management or 

policies of a person other than an 

individual; 

(c) The term Auction Rate Security 

means a security that: 

(1) Is either a debt instrument 

(generally with a long-term nominal 

maturity) or preferred stock; and 

(2) Has an interest rate or dividend 

that is reset at specific intervals through 

a Dutch Auction process; 

(d) A person is independent of UBS 

if the person is: 

(1) Not UBS or an affiliate; and 

(2) not a relative (as defined in ERISA 

section 3(15)) of the party engaging in 

the transaction; 

(e) The term Plan means: an 

individual retirement account or similar 

account described in section 

4975(e)(1)(B) through (F) of the Code (an 


tkelley on DSK3SPTVN1PROD with NOTICES
66958 Federal Register / Vol. 78, No. 216 / Thursday, November 7, 2013 / Notices 

4For purposes of this exemption, references to 

section 406 of the Act should be read to refer as 

well to the corresponding provisions of section 

4975 of the Code. 

IRA); an employee benefit plan as 

defined in section 3(3) of ERISA; or an 

entity holding plan assets within the 

meaning of 29 CFR 2510.3–101, as 

modified by ERISA section 3(42); and 

(f) The term Settlement Agreement 

means: A written legal settlement 

agreement involving UBS and a U.S. 

state or federal authority (a Settlement) 

that provides for the purchase of an 

Auction Rate Security by UBS from a 

Plan and/or the issuance of ARS Rights. 

Effective Date: This exemption is 

effective as of February 1, 2008. 

For a more complete statement of the 

facts and representations supporting the 

Department’s decision to grant this 

exemption, refer to the notice of 

proposed exemption published on July 

22, 2013, at 78 FR 43930. 

Written Comments 

During the comment period, the 

Department received one written 

comment (the Comment) from UBS with 

respect to the notice of proposed 

exemption (the Proposed Exemption) 

and no requests for a public hearing. 

The Comment is intended to clarify 

certain requirements in sections III and 

IV of the Proposed Exemption. UBS’s 

Comment and the Department’s 

responses are described below. 

1. Section III Requirement that the 

Conditions in Section IV Be Met. UBS 

believes that the proviso at the end of 

Section III(c) of the Proposed Exemption 

(on page 43932), which reads, 

‘‘provided that the conditions set forth 

in Section IV below are met,’’ may be 

understood in that context to require 

that the conditions of Section IV apply 

only to the transactions described in 

Section III(c), rather than to each of the 

three types of transactions described in 

Section III. Therefore, in order to clarify 

that all transactions described in 

Section III must meet the conditions set 

forth in Section IV in order to be 

covered by the Proposed Exemption, 

UBS requests: (i) that certain language 

in Section III, which reads, ‘‘If the 

proposed exemption is granted, the 

restrictions of section 406(a)(1)(A) and 

(D) and section 406(b)(1) and (2) of 

ERISA and the taxes imposed by section 

4975 of the Code, by reason of section 

4975(c)(1)(A), (D) and (E) of the Code, 

shall not apply, effective February 1, 

2008, to the following transactions’’ be 

revised to read, ‘‘If the proposed 

exemption is granted, the restrictions of 

section 406(a)(1)(A) and (D) and section 

406(b)(1) and (2) of ERISA and the taxes 

imposed by section 4975 of the Code, by 

reason of section 4975(c)(1)(A), (D) and 

(E) of the Code, shall not apply, effective 

February 1, 2008, to the transactions 

described herein if the conditions set 

forth in Section IV are met’’ and (ii) that 

the aforementioned proviso in Section 

III(c) be removed. 

In response to this comment, the 

Department has made the requested 

revisions in order to clarify that the 

conditions of Section IV apply to all of 

the transactions described in Section III. 

2. Notice Requirement in Section 

IV(b). UBS reads the condition in 

Section IV(b) of the Proposed 

Exemption, as currently written, to 

require that notice of the ARS Rights 

Offer be sent to all Plans as defined in 

Section V of the Proposed Exemption. 

As the provision relates to ARS Rights 

under particular Settlement 

Agreements, UBS suggests that it would 

be more accurate to require that the 

notice be sent to all plans as required by 

the applicable Settlement Agreements. 

Accordingly, UBS requests that the first 

sentence in Section IV(b), which reads, 

‘‘UBS sends notice of the ARS Rights 

Offer to the Plans, including an 

explanatory cover letter and prospectus 

for the ARS Rights under the Securities 

Act of 1933 (the Securities Act), as 

amended’’ be revised to read, ‘‘UBS 

sends notice of the ARS Rights Offer to 

the plans identified in the applicable 

Settlement Agreement, including an 

explanatory cover letter and prospectus 

for the ARS Rights under the Securities 

Act of 1933 (the Securities Act), as 

amended.’’ 

In response to this comment, the 

Department has made the requested 

revision to Section IV(b) of the Proposed 

Exemption to clarify the meaning of this 

condition and to avoid any implication 

that notice must be sent to any plans 

other than those identified under the 

terms of the applicable Settlement 

Agreement. 

Accordingly, after giving full 

consideration to the entire record, 

including the Comment, the Department 

has determined to grant the exemption 

as modified herein. 

For further information regarding the 

Comment and other matters discussed 

herein, Interested Persons are 

encouraged to obtain copies of the 

exemption application file (Exemption 

Application No. D–11506) the 

Department is maintaining in this case. 

The complete application file, as well as 

all supplemental submissions received 

by the Department, are made available 

for public inspection in the Public 

Disclosure Room of the Employee 

Benefits Security Administration, Room 

N–1513, U.S. Department of Labor, 200 

Constitution Avenue NW., Washington, 

DC 20210. 

FOR FURTHER INFORMATION CONTACT: 

Anna Mpras Vaughan of the 

Department, telephone (202) 693–8565. 

(This is not a toll-free number.) 

Wells Fargo Bank, N.A. (the Bank) 

Located in Sioux Falls, South Dakota 

[Prohibited Transaction Exemption 

2013–11; Exemption Application No. 

D–11640] 

Exemption 

The restrictions of sections 

406(a)(1)(A), 406(a)(1)(D), 406(b)(1), and 

406(b)(2) of the Act and the sanctions 

resulting from the application of section 

4975 of the Code,4 by reason of section 

4975(c)(1)(A), (D), and (E) of the Code, 

shall not apply, effective September 8, 

2009, to the cash sale by four employee 

benefit plans (the Plans), whose assets 

were invested in the Bank’s collateral 

pools (the Collateral Pools), of certain 

interests (the Interests) in two mediumterm notes (the Notes), for the aggregate 

purchase price (the Purchase Price) of 

$375,182, to the Bank, a party in interest 

with respect to the Plans. 

This exemption is subject to the 

following conditions: 

(a) The sale was a one-time 

transaction for cash; 

(b) Each Plan received an amount 

which was equal to the greater of either: 

(1) The current cost of its Interests in the 

Notes (i.e., the original purchase price 

less distributions received by the Plan 

through the purchase date); or (2) the 

fair market value of its Interests in the 

Notes, as determined by a valuation of 

the underlying assets performed by 

Stone Tower Debt Advisors LLC, an 

unrelated party, there being no market 

for the Notes at the time of sale; 

(c) The Plans did not pay any 

commissions or other expenses in 

connection with the sale; 

(d) The Bank, in its capacity as 

securities lending agent and manager of 

the Collateral Pools, determined that the 

sale of the Plans’ Interests in the Notes 

was appropriate for and in the interests 

of the Plans at the time of the 

transaction; 

(e) The Bank took all appropriate 

actions necessary to safeguard the 

interests of the Plans in connection with 

the transaction, given that the Plans 

were not eligible to participate in an 

exchange offer (the Exchange Offer) and 

the Purchase Price was substantially 

higher than the fair market value of the 

Plans’ Interests in the Notes; 

(f) If the exercise of any of the Bank’s 

rights, claims or causes of action in 

connection with its ownership of the 

Notes (including the notes received in 


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5For purposes of this exemption, references to 

specific provisions of Title I of the Act, unless 

otherwise specified, refer also to the corresponding 

provisions of the Code. 

6 It is represented that the fiduciaries of the PR 

Plan have not made an election under section 

1022(i)(2) of the Act, whereby such plan would be 

treated as a trust created and organized in the 

United States for purposes of tax qualification 

under section 401(a) of the Code. Further, it is 

represented that jurisdiction under Title II of the 

Act does not apply to the PR Plan. Accordingly, the 

Department, herein, is not providing any relief for 

the prohibitions, as set forth in Title II of the Act, 

for the acquisition and holding of the Rights by the 

PR Plan. 

the Exchange Offer) results in the Bank 

recovering from Stanfield Victoria 

Finance Ltd., the issuer of the Notes, or 

any third party, an aggregate amount 

that is more than the sum of: 

(1) The Purchase Price paid by the 

Bank to the Plans for the Interests in the 

Notes; and 

(2) The interest that would have been 

payable on the Notes from and after the 

date the Bank purchased the Plans’ 

Interests in the Notes, at the rate 

specified in the Notes, the Bank will 

refund such excess amounts promptly to 

the Plans (after deducting all reasonable 

expenses incurred in connection with 

the recovery); 

(g) The Bank and its affiliates, as 

applicable, maintain, or cause to be 

maintained, for a period of six (6) years 

from the date of any covered transaction 

such records as are necessary to enable 

the persons described below in 

paragraph (h)(i), to determine whether 

the conditions of this exemption have 

been met, except that— 

(1) No party in interest with respect 

to a Plan which engages in the covered 

transaction, other than the Bank and its 

affiliates, as applicable, shall be subject 

to a civil penalty under section 502(i) of 

the Act or the taxes imposed by section 

4975(a) and (b) of the Code, if such 

records are not maintained, or not 

available for examination, as required, 

below, by paragraph (h)(i); and 

(2) A separate prohibited transaction 

shall not be considered to have occurred 

solely because, due to circumstances 

beyond the control of the Bank or its 

affiliate, as applicable, such records are 

lost or destroyed prior to the end of the 

six-year period. 

(h)(1) Except as provided, below, in 

paragraph (h)(2), and notwithstanding 

any provisions of subsections (a)(2) and 

(b) of section 504 of the Act, the records 

referred to, above, in paragraph (g) are 

unconditionally available at their 

customary location for examination 

during normal business hours by— 

(A) Any duly authorized employee or 

representative of the Department, the 

Internal Revenue Service, or the 

Securities Exchange Commission; or 

(B) Any fiduciary of any plan that 

engages in the covered transaction, or 

any duly authorized employee or 

representative of such fiduciary; or 

(C) Any employer of participants and 

beneficiaries and any employee 

organization whose members are 

covered by a plan that engages in the 

covered transaction, or any authorized 

employee or representative of these 

entities; or 

(D) Any participant or beneficiary of 

a plan that engages in the covered 

transaction, or duly authorized 

employee or representative of such 

participant or beneficiary; 

(ii) None of the persons described 

above, in paragraph (h)(1)(B)–(D) shall 

be authorized to examine trade secrets 

of the Bank and its affiliates, as 

applicable, or commercial or financial 

information which is privileged or 

confidential; and 

(E) Should the Bank and its affiliates, 

as applicable, refuse to disclose 

information on the basis that such 

information is exempt from disclosure, 

the Bank and its affiliates, as applicable, 

shall, by the close of the thirtieth (30th) 

day following the request, provide a 

written notice advising that person of 

the reasons for the refusal and that the 

Department may request such 

information. 

Effective Date: This exemption is 

effective as of September 8, 2009. 

Written Comments 

In the Notice of Proposed Exemption 

(the Notice), the Department invited all 

interested persons to submit written 

comments and/or requests for a public 

hearing on the proposed exemption 

within 35 days of the date of the 

publication of the Notice in the Federal 

Register on July 9, 2013. All comments 

and requests for a hearing were due by 

August 13, 2013. 

During the comment period, the 

Department received no comments and 

no request for a hearing. Accordingly, 

after giving full consideration to the 

entire record, the Department has 

decided to grant the exemption. The 

complete application file (Application 

No. D–11640), and all supplemental 

submissions received by the 

Department, are available for public 

inspection in the Public Disclosure 

Room of the Employee Benefits Security 

Administration, Room N–1513, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210. 

For a more complete statement of the 

facts and representations supporting the 

Department’s decision to grant this 

exemption, refer to the notice of 

proposed exemption published in the 

Federal Register on July 9, 2013, at 78 

FR 41101. 

FOR FURTHER INFORMATION CONTACT: Ms. 

Anna Mpras Vaughan of the 

Department, telephone (202) 693–8565. 

(This is not a toll-free number.) 

Sears Holdings Savings Plan (the 

Savings Plan), Sears Holdings Puerto 

Rico Savings Plan (the PR Plan), and 

The Lands’ End, Inc. Retirement Plan 

(the Lands’ End Plan) (Collectively, the 

Plans) Located in Hoffman Estates, IL 

and Dodgeville, WI [Prohibited 

Transaction Exemption 2013–12; 

Exemption Application Nos. D–11739, 

D–11740, and D–11741] 

Exemption 

Section I. Transactions 

Effective for the period beginning 

September 7, 2012 and ending October 

8, 2012: 

(a) The restrictions of sections 

406(a)(1)(A), 406(a)(1)(E), 406(a)(2), 

406(b)(1), 406(b)(2), and 407(a)(1)(A) of 

the Act and the sanctions resulting from 

the application of section 4975 of the 

Code, by reason of section 4975(c)(1)(A) 

and 4975(c)(1)(E) of the Code,5 shall not 

apply: 

(1) To the acquisition of certain 

subscription right(s)(the Right or Rights) 

by the Savings Plan and the Lands’ End 

Plan from Sears Holdings Corporation 

(Holdings) in connection with an 

offering (the Offering) by Holdings of 

shares of common stock (SHO Stock) in 

Sears Hometown and Outlet Stores, Inc. 

(SHO); and 

(2) To the holding of the Rights by the 

Savings Plan and the Lands’ End Plan 

during the subscription period of the 

Offering; provided that the conditions as 

set forth, below, in Section II of this 

exemption were satisfied for the 

duration of the acquisition and holding. 

(b) The restrictions of sections 

406(a)(1)(A), 406(a)(1)(E), 406(a)(2), 

406(b)(1), 406(b)(2), and 407(a)(1)(A) of 

the Act 6 shall not apply: 

(1) To the acquisition of the Rights by 

the PR Plan from Holdings in 

connection with the Offering by 

Holdings of the SHO Stock; and 

(2) To the holding of the Rights by the 

PR Plan during the subscription period 

of the Offering; provided that the 

conditions as set forth, below, in 

Section II of this exemption were 

satisfied for the duration of the 

acquisition and holding. 


tkelley on DSK3SPTVN1PROD with NOTICES
66960 Federal Register / Vol. 78, No. 216 / Thursday, November 7, 2013 / Notices 

Section II. Conditions 

(a) The receipt of the Rights by the 

Plans occurred in connection with the 

Offering in which all shareholders of the 

common stock of Holdings (Holdings 

Stock), including the Plans, were treated 

in the same manner; 

(b) The acquisition of the Rights by 

the Plans resulted solely from an 

independent act of Holdings, as a 

corporate entity; 

(c) Each shareholder of Holdings 

Stock, including each of the Plans, 

received the same proportionate number 

of Rights based on the number of shares 

of Holdings Stock held by each such 

shareholder; 

(d) All decisions with regard to the 

holding and disposition of the Rights by 

the Plans were made by an independent 

qualified fiduciary (the I/F); 

(e) The I/F determined that it would 

be in the interest of the Plans to sell all 

of the Rights received in the Offering by 

the Plans in blind transactions on the 

NASDAQ Capital Market; and 

(f) No brokerage fees, commissions, 

subscription fees, or other charges: were 

paid by the Plans with respect to the 

acquisition and holding of the Rights; or 

were paid to any broker affiliated with 

the I/F, Holdings, or SHO in connection 

with the sale of the Rights. 

Effective Date: This exemption is 

effective for the Offering period, 

beginning September 7, 2012 and 

ending October 8, 2012. 

Written Comments 

In the Notice of Proposed Exemption 

(the Notice), the Department invited all 

interested persons to submit written 

comments and requests for a hearing 

within forty-five (45) days of the date of 

the publication of the Notice in the 

Federal Register on July 9, 2013. All 

comments and requests for a hearing 

were due initially by August 23, 2013. 

With the Department’s permission, the 

comment period was extended to 

September 6, 2013, to allow Holdings 

(the Applicant) additional time to 

ascertain the appropriate method of 

providing notice to a group of 

employees whose addresses had 

previously generated return mail to the 

Applicant. 

During the comment period, the 

Department received no requests for 

hearing. The Department did receive 

approximately forty-nine (49) telephone 

calls from interested persons, none of 

which raised substantive issues with 

respect to the transactions that are the 

subject of this exemption. 

The only written comment received 

by the Department during the comment 

period was submitted by the Applicant. 

The comment letter, dated September 6, 

2013, incorporated comments from the 

I/F, Evercore Trust Company, N.A. 

In the comment letter, the Applicant 

requests the following clarifications/ 

corrections to the Summary of Facts and 

Representations section of the Notice. 

1. Scope of Participation in the Plans. 

In the first paragraph in Representation 

1, the Applicant requests that the 

sentence, ‘‘Employees of Holdings and 

its affiliates participate in the Plans,’’ be 

revised to read: ‘‘Employees of certain 

affiliates of Holdings participate in the 

Plans.’’ 

In addition, in the first paragraph of 

Representation 2, the Applicant requests 

that the sentence, ‘‘Sears, Roebuck and 

Co. (Sears Roebuck) and all of its 

wholly-owned (direct and indirect) 

subsidiaries (except Lands’ End Inc. 

(Lands’ End)) and Sears Holdings 

Management Corporation, with respect 

to certain employees, have adopted the 

Savings Plan and are employers under 

such plan,’’ be revised to read: ‘‘Sears, 

Roebuck and Co. (Sears Roebuck) and 

all of its wholly-owned (direct and 

indirect) subsidiaries (except Lands’ 

End Inc. (Lands’ End) and Sears de 

Puerto Rico, Inc.), Kmart Holding 

Corporation and its wholly-owned 

(direct and indirect) subsidiaries 

(excluding employees residing in Puerto 

Rico), and Sears Holdings Management 

Corporation, with respect to certain 

employees, have adopted the Savings 

Plan and are employers under such 

plan.’’ 

2. Participants Holding Employer 

Stock. In the second paragraph of 

Representation 2, the Applicant wishes 

to clarify that the number of participants 

holding employer stock in the Savings 

Plan on the Record Date was 24,015, 

rather than 25,015. Also, the Applicant 

states that the number of participants 

listed in Representations 2, 3, and 4 of 

the Notice represents the number of 

participants in each plan holding 

employer stock as of the Record Date, 

rather than the number of participants 

in each plan. 

3. The PR Plan. With respect to 

Representation 3 of the Notice, the 

Applicant wishes to clarify that while 

the PR Plan is now sponsored and 

maintained by Holdings, it was 

originally established by Sears Roebuck, 

covers employees of Sears Roebuck and 

Kmart Corporation residing in Puerto 

Rico and was created by the merger of 

the prior Kmart Retirement Savings Plan 

for Puerto Rico Employees into the prior 

Sears Puerto Rico Savings Plan, as of 

March 31, 2012. In addition, the 

Applicant requests the following 

changes to Representation 3 of the 

Notice: 

(a) In the first paragraph of 

Representation 3, ‘‘and Kmart 

Corporation,’’ should be inserted after 

the phrase, ‘‘(Sears Roebuck de Puerto 

Rico).’’ 

(b) In the first paragraph of 

Representation 3, the phrase, ‘‘and was 

established by the merger of the prior 

Kmart Corporation Retirement Savings 

Plan for Puerto Rico Employees with 

and into the prior Sears Puerto Rico 

Savings Plan as of March 31, 2012,’’ 

should be inserted after the phrase, 

‘‘Commonwealth of Puerto Rico.’’ 

(c) In the second paragraph of 

Representation 3, the phrase, ‘‘1.4 

percent (1.4%)’’ should be revised to 

read, approximately ‘‘.033 percent 

(.033%).’’ 

4. Land’s End Plan. In Representation 

4, the Applicant wishes to clarify that 

the Lands’ End Plan was established by 

Lands’ End and is sponsored and 

maintained by Lands’ End. 

5. Sears Holdings Stock Issued and 

Outstanding/Holdings Stock Held by PR 

Plan. The Applicant wishes to clarify 

that the figure of 106 million shares of 

Holdings Stock issued and outstanding, 

as set forth in Representations 2, 3, and 

4 of the Notice, is an approximate 

figure, and the exact number is 

‘‘106,444,571.’’ 

6. Other Clarifications. In the first 

paragraph of Representation 5, the 

Applicant wishes to clarify that the 

phrase, ‘‘other than the Lands’ End 

Plan,’’ be inserted after the word, 

‘‘Plans,’’ and that the word, ‘‘Company,’’ 

be deleted, and the word, 

‘‘Corporation,’’ be substituted instead. 

7. Edward S. Lampert. In 

Representation 6, the Applicant wishes 

to clarify that Mr. Lampert became the 

CEO of Holdings as of February 1, 2013. 

8. Number of SHO Stock/SHO 

Business. In Representation 7, the 

Applicant wishes to clarify that the 

number of SHO stores should read 

‘‘1,230,’’ rather than ‘‘11,238.’’ In 

addition, the Applicant wishes to clarify 

that SHO did not conduct business as a 

separate company and had no material 

assets or liabilities, prior to August 31, 

2012, rather than through the date of the 

Offering. 

9. Depository Trust Company (DTC) 

Interim Trading. The Applicant wishes 

to clarify that in Representation 11, the 

DTC established an interim ‘‘trading’’ 

period, rather than an interim ‘‘tracing’’ 

period for the Rights. Further, the 

Applicant indicates that the report from 

the I/F states that this interim trading 

period continued through September 17, 

2012, rather than September 16, 2012. 

10. Net Proceeds. The Applicant 

wishes to clarify that the net proceeds 

from the sale of the Rights generated for 


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7For purposes of this exemption, references to 

specific provisions of Title I of the Act, unless 

otherwise specified, refer also to the corresponding 

provisions of the Code. 

8 It is represented that the fiduciaries of the 

Chartis Plan have not made an election, under 

section 1022(i)(2) of the Act, whereby such plan 

would be treated as a trust created and organized 

in the United States for purposes of tax 

qualification under section 401(a) of the Code. 

Further, it is represented that jurisdiction under 

Title II of the Act does not apply to the Chartis Plan. 

Accordingly, the Department, herein, is not 

providing any relief from the prohibitions, as set 

forth in Title II of the Act, in connection with the 

acquisition and holding of the Warrants by the 

Chartis Plan. 

the Savings Plan and the PR Plan, 

according to the report from the I/F, was 

$3,490,605.16, rather than 

$3,490,606.15, as set forth in the Notice. 

11. SEC Fees. The Applicant wishes 

to clarify that the SEC fees paid by the 

Master Trust in connection with the sale 

of the Rights were $78.63, rather than 

$778.63. 

The Department concurs with the 

Applicant’s requested clarifications/ 

corrections to the Notice. Accordingly, 

after full consideration and review of 

the entire record, including the 

comment filed by the Applicant, the 

Department has determined to grant the 

exemption, as set forth above. The 

written comment from the Applicant 

has been included as part of the public 

record of the exemption application. 

The complete application files (D– 

11739, D–11740 and D–11741) are 

available for public inspection in the 

Public Disclosure Room of the 

Employee Benefits Security 

Administration, Room N–1513, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington DC 20210. 

For a more complete statement of the 

facts and representations supporting the 

Department’s decision to grant this 

exemption refer to the Notice published 

on July 9, 2013, at 78 FR 41110. 

FOR FURTHER INFORMATION CONTACT: Ms. 

Angelena C. Le Blanc of the Department, 

telephone (202) 693–8551. (This is not 

a toll-free number.) 

American International Group, Inc. 

Incentive Savings Plan (the Savings 

Plan), American General Agents’ & 

Managers’ Thrift Plan (the Thrift Plan), 

and Chartis Insurance Company— 

Puerto Rico Capital Growth Plan (the 

Chartis Plan) (Collectively, the Plans) 

Located in New York, NY and Puerto 

Rico [Prohibited Transaction 

Exemption 2013–13; Exemption 

Application Nos. D–11767, D–11768, 

and D–11769] 

Exemption 

The restrictions of sections 

406(a)(1)(A), 406(a)(1)(E), 406(a)(2), 

406(b)(1), 406(b)(2) and 407(a) of the Act 

and the sanctions resulting from the 

application of section 4975 of the Code, 

by reason of section 4975(c)(1)(A) and 

(E) of the Code,7 shall not apply for the 

ten-year period, effective January 19, 

2011 through January 19, 2021, to: 

(1) The acquisition by the Savings 

Plan and the Thrift Plan of certain 

warrant rights (the Warrants) from 

American International Group, Inc. 

(AIG), a party in interest with respect to 

the Savings Plan and the Thrift Plan; 

and 

(2) The holding of the Warrants by the 

Savings Plan and the Thrift Plan. 

(b) The restrictions of sections 

406(a)(1)(A), 406(a)(1)(E), 406(a)(2), 

406(b)(1), 406(b)(2) and 407(a) of the 

Act 8 shall not apply to: 

(1) The acquisition by the Chartis Plan 

of the Warrants from AIG, a party in 

interest with respect to the Chartis Plan; 

and 

(2) The holding of the Warrants by the 

Plans. 

Section II. Conditions 

The relief provided in this exemption 

is conditioned upon adherence to the 

material facts and representations set 

forth in the application file, and upon 

compliance with the conditions, as set 

forth herein. 

(a) All decisions regarding the 

acquisition and holding of the Warrants 

by the Plans were made by AIG; 

(b) The Plans’ acquisition of the 

Warrants resulted from an independent 

act of AIG as a corporate entity, and 

without any participation on the part of 

the Plans; 

(c) The receipt of the Warrants by the 

Plans occurred in connection with a 

recapitalization plan approved by the 

Board of Directors of AIG, in which all 

holders of AIG common stock, including 

the Plans, were treated exactly the same 

with respect to the acquisition of the 

Warrants; 

(d) All holders of AIG common stock, 

including the Plans, were issued the 

same proportionate number of Warrants 

based on the number of shares of AIG 

common stock held by such 

shareholder; 

(e) The acquisition of the Warrants by 

the Plans was made in a manner that 

was consistent with provisions of each 

such Plan for the individually-directed 

investment of participant accounts; 

(f) The Plans did not pay any fees or 

commissions in connection with the 

acquisition of the Warrants; 

(g) The Plans did not pay, nor will the 

Plans pay, any fees or commissions in 

connection with the holding of the 

Warrants; 

(h) The Plans did not pay, nor will the 

Plans pay, any brokerage fees or 

commissions to any broker affiliated 

with AIG, Chartis, or the Trustees in 

connection with the sale of the 

Warrants; and 

(i) AIG will provide annual written 

notices to all participants in the Plans 

holding Warrants to remind them to sell 

their Warrants before such Warrants 

expire on January 19, 2021. 

Effective Date: This exemption is 

effective for the period commencing 

January 19, 2011 through January 19, 

2021. 

Written Comments 

In the Notice of Proposed Exemption 

(the Notice), the Department invited all 

interested persons to submit written 

comments and/or requests for a public 

hearing on the proposed exemption 

within 45 days of the date of the 

publication of the Notice in the Federal 

Register on July 22, 2013. All comments 

and requests for hearing were due by 

September 5, 2013. 

During the comment period, the 

Department received no requests for a 

hearing and one written comment, dated 

September 6, 2013. The comment 

reflected the commenter’s failure to 

fully understand the Notice. The 

Department provided an explanation to 

the commenter by telephone, that was 

satisfactory to the commenter, and the 

comment was withdrawn. 

Accordingly, after giving full 

consideration to the entire record, 

including the comment, the Department 

has decided to grant the exemption. The 

complete application file (Application 

Nos. D–11767, D–11768, and D–11769), 

and all supplemental submissions 

received by the Department, are 

available for public inspection in the 

Public Disclosure Room of the 

Employee Benefits Security 

Administration, Room N–1513, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210. 

For a more complete statement of the 

facts and representations supporting the 

Department’s decision to grant this 

exemption, refer to the Notice published 

on July 22, 2013, at 78 FR 43938. 

FOR FURTHER INFORMATION CONTACT: Mr. 

Asrar Ahmed of the Department, 

telephone (202) 693–8557. (This is not 

a toll-free number.) 

General Information 

The attention of interested persons is 

directed to the following: 

(1) The fact that a transaction is the 

subject of an exemption under section 

408(a) of the Act and/or section 

4975(c)(2) of the Code does not relieve 

a fiduciary or other party in interest or 


tkelley on DSK3SPTVN1PROD with NOTICES
66962 Federal Register / Vol. 78, No. 216 / Thursday, November 7, 2013 / Notices 

disqualified person from certain other 

provisions to which the exemption does 

not apply and the general fiduciary 

responsibility provisions of section 404 

of the Act, which among other things 

require a fiduciary to discharge his 

duties respecting the plan solely in the 

interest of the participants and 

beneficiaries of the plan and in a 

prudent fashion in accordance with 

section 404(a)(1)(B) of the Act; nor does 

it affect the requirement of section 

401(a) of the Code that the plan must 

operate for the exclusive benefit of the 

employees of the employer maintaining 

the plan and their beneficiaries; 

(2) This exemption is supplemental to 

and not in derogation of, any other 

provisions of the Act and/or the Code, 

including statutory or administrative 

exemptions and transactional rules. 

Furthermore, the fact that a transaction 

is subject to an administrative or 

statutory exemption is not dispositive of 

whether the transaction is in fact a 

prohibited transaction; and 

(3) The availability of this exemption 

is subject to the express condition that 

the material facts and representations 

contained in the application accurately 

describes all material terms of the 

transaction which is the subject of the 

exemption. 

Signed at Washington, DC, this 31st day of 

October, 2013. 

Lyssa E. Hall, 

Director of Exemption Determinations, 

Employee Benefits Security Administration, 

U.S. Department of Labor. 

[FR Doc. 2013–26630 Filed 11–6–13; 8:45 am] 

BILLING CODE 4510–29–P 

DEPARTMENT OF LABOR 

Occupational Safety and Health 

Administration 

[Docket No. OSHA–2013–0006] 

Advisory Committee on Construction 

Safety and Health (ACCSH) 

AGENCY: Occupational Safety and Health 

Administration (OSHA), Labor. 

ACTION: Announcement of a meeting of 

ACCSH and request for nominations for 

membership on ACCSH. 

SUMMARY: ACCSH will meet December 

5–6, 2013, in Washington, DC. OSHA 

also announces the Assistant Secretary 

of Labor request for nominations for 

membership on ACCSH. 

DATES:

ACCSH meeting: ACCSH will meet 

from 1 to 4 p.m., e.t., Thursday, 

December 5, 2013, and Friday, 

December 6, 2013. Submit (postmark, 

send, transmit) comments, requests to 

address the ACCSH meeting, speaker 

presentations (written or electronic), 

requests for special accommodations for 

the ACCSH meeting, by November 15, 

2013. 

Nominations for ACCSH membership: 

Submit nominations for ACCSH 

membership January 6, 2014. 

ADDRESSES: 

Submission of comments, requests to 

speak, and speaker presentations for the 

ACCSH meeting, and nominations for 

ACCSH membership: Submit comments, 

requests to speak, and speaker 

presentations for the ACCSH meeting, 

and nominations and supporting 

material for ACCSH membership, using 

one of the following methods: 

Electronically: Submit materials, 

including attachments, electronically at 

http://www.regulations.gov, which is 

the Federal eRulemaking Portal. Follow 

the on-line instructions for submissions. 

Facsimile (Fax): If the submission, 

including attachments, does not exceed 

10 pages, you may fax it to the OSHA 

Docket Office at (202) 693–1648. 

Regular mail, express mail, hand 

delivery, or messenger (courier) service: 

Submit materials to the OSHA Docket 

Office, Docket No. OSHA–2013–0006, 

Room N–2625, U.S. Department of 

Labor, 200 Constitution Avenue NW., 

Washington, DC 20210; telephone (202) 

693–2350 (TTY (877) 889–5627). 

OSHA’s Docket Office accepts deliveries 

(hand deliveries, express mail, and 

messenger service) during normal 

business hours, 8:15 a.m.–4:45 p.m., e.t., 

weekdays. 

Instructions: Submissions must 

include the agency name and docket 

number for this Federal Register notice 

(Docket No. OSHA–2013–0006). Due to 

security-related procedures, 

submissions by regular mail may 

experience significant delays. Please 

contact the OSHA Docket Office for 

information about security procedures 

for making submissions. For additional 

information on submitting comments, 

requests to speak, and speaker 

presentations, see the SUPPLEMENTARY

INFORMATION section of this notice. 

OSHA will post comments, requests 

to speak, and speaker presentations, 

including any personal information 

provided, without change, at http:// 

www.regulations.gov. Therefore, OSHA 

cautions you about submitting personal 

information such as Social Security 

numbers and birthdates. 

Location of the ACCSH meeting: 

ACCSH will meet in Room C–5515, 1A– 

B, U.S. Department of Labor, 200 

Constitution Avenue NW., Washington, 

DC 20210. 

Requests for special accommodations 

at the ACCSH meeting: Please submit 

requests for special accommodations to 

attend the ACCSH meeting to Ms. 

Frances Owens, OSHA, Office of 

Communications, Room N–3647, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210; 

telephone (202) 693–1999; email 

owens.frances@dol.gov. 

FOR FURTHER INFORMATION CONTACT: 

For press inquiries: Mr. Frank 

Meilinger, Director, OSHA Office of 

Communications, Room N–3647, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210; 

telephone (202) 693–1999; email 

meilinger.francis2@dol.gov. 

For general information about 

ACCSH, the ACCSH meeting, and 

ACCSH membership: Mr. Damon 

Bonneau, OSHA, Directorate of 

Construction, Room N–3468, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210; 

telephone (202) 693–2020; email 

bonneau.damon@dol.gov. 

Copies of this Federal Register notice: 

Electronic copies of this Federal 

Register notice are available at http:// 

www.regulations.gov. This notice, as 

well as news releases and other relevant 

information, also are available on the 

OSHA Web page at http:// 

www.osha.gov. 

SUPPLEMENTARY INFORMATION:

I. ACCSH Meeting 

Background: ACCSH will meet 

December 5–6, 2013, in Washington, 

DC. Some ACCSH members will attend 

the meeting by teleconference. The 

meeting is open to the public. OSHA 

transcribes ACCSH meetings and 

prepares detailed minutes of meetings. 

OSHA places the transcript and minutes 

in the public docket for the meeting. 

The docket also includes speaker 

presentations, comments, and other 

materials submitted to ACCSH. 

ACCSH advises the Secretary of Labor 

and the Assistant Secretary of Labor for 

Occupational Safety and Health 

(Assistant Secretary) in the formulation 

of standards affecting the construction 

industry, and on policy matters arising 

in the administration of the safety and 

health provisions under the Contract 

Work Hours and Safety Standards Act 

(Construction Safety Act (CSA)) (40 

U.S.C. 3701 et seq.) and the 

Occupational Safety and Health Act of 

1970 (OSH Act) (29 U.S.C. 651 et seq.) 

(see also 29 CFR 1911.10 and 1912.3). In 

addition, the OSH Act and CSA require 

that OSHA consult with ACCSH before 

the Agency proposes any occupational 

safety and health standard affecting 

construction activities (29 CFR 1911.10; 

40 U.S.C. 3704). 


tkelley on DSK3SPTVN1PROD with NOTICES