This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents. Prices of

new books are listed in the first FEDERAL

REGISTER issue of each week.

Rules and Regulations Federal Register

47435 

Vol. 74, No. 178 

Wednesday, September 16, 2009 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 101 

[Docket No. FAA–2007–27390; Amendment 

No. 101–8] 

RIN 2120–AI88 

Requirements for Amateur Rocket 

Activities 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule; correction. 

SUMMARY: The FAA is making an 

editorial change to the amateur rocket 

regulations. This action corrects an 

unintentional error in the difference 

between statute and nautical miles. The 

intent is to ensure the regulations are 

clear and accurate. 

DATES: This amendment is effective 

September 16, 2009. 

FOR FURTHER INFORMATION CONTACT: For 

technical questions concerning this final 

rule, contact Charles P. Brinkman, 

Licensing and Safety Division (AST– 

200), Commercial Space Transportation, 

Federal Aviation Administration, 800 

Independence Avenue, Washington, DC 

20591, telephone (202) 267–7715, e-mail 

Phil.Brinkman@faa.gov. For legal 

questions concerning this final rule, 

contact Gary Michel, Office of the Chief 

Counsel, Federal Aviation 

Administration, 800 Independence 

Avenue, Washington, DC 20591, 

telephone (202) 267–3148. 

SUPPLEMENTARY INFORMATION: 

Background 

On Friday, July 31, 2009 (74 FR 

38092), the FAA published a technical 

amendment to the final rule 

‘‘Requirements for Amateur Rocket 

Activities.’’ The final rule was 

published on December 4, 2008 (73 FR 

73768). During the review process, we 

determined that an additional minor 

amendment is needed in part 101. 

In the first line of § 101.25(e), the 

number ‘‘8’’ (kilometers) is changed to 

‘‘9.26’’ to correct the metric conversion 

when the word ‘‘statute’’ is replaced 

with the word ‘‘nautical’’. 

Technical Correction 

This technical correction merely 

ensures correct placement of 

miscellaneous words. There are no other 

changes to the existing regulatory text. 

Justification for Immediate Adoption 

Because this action is editorial, the 

FAA finds that notice and public 

comment under 5 U.S.C. section 553(b) 

is unnecessary. For the same reason, the 

FAA finds good cause exists under 5 

U.S.C. section 553(d) for making this 

rule effective upon publication. 

List of Subjects for 14 CFR Part 101 

Aircraft, Aviation safety. 

The Amendment 

■ In consideration of the foregoing, the 

FAA amends 14 CFR part 101, as 

follows: 

PART 101––MOORED BALLOONS, 

KITES, UNMANNED ROCKETS AND 

UNMANNED FREE BALLOONS 

■ 1. The authority citation for part 101 

continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40103, 40113– 

40114, 45302, 44502, 44514, 44701–44702, 

44721, 46308. 

§ 101.25 [Amended] 

■ 2. Amend § 101.25(e) by removing the 

number ‘‘8’’ and adding the number 

‘‘9.26’’ in its place and removing the 

word ‘‘statute’’ and adding the word 

‘‘nautical’’ in its place. 

Issued in Washington, DC, on September 

10, 2009. 

Brenda D. Courtney, 

Acting Director, Office of Rulemaking. 

[FR Doc. E9–22341 Filed 9–15–09; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

Food and Drug Administration 

21 CFR Part 524 

[Docket No. FDA–2009–N–0665] 

Ophthalmic and Topical Dosage Form 

New Animal Drugs; Diclofenac 

AGENCY: Food and Drug Administration, 

HHS. 

ACTION: Final rule. 

SUMMARY: The Food and Drug 

Administration (FDA) is amending the 

animal drug regulations to reflect 

approval of a supplemental new animal 

drug application (NADA) filed by 

Boehringer Ingelheim Vetmedica, Inc. 

The supplemental NADA provides for a 

revised human food safety warning for 

use of diclofenac sodium topical cream 

in horses. 

DATES: This rule is effective September 

16, 2009. 

FOR FURTHER INFORMATION CONTACT: 

Melanie R. Berson, Center for Veterinary 

Medicine (HFV–110), Food and Drug 

Administration, 7500 Standish Pl., 

Rockville, MD 20855, 240–276–8337, email: melanie.berson@fda.hhs.gov. 

SUPPLEMENTARY INFORMATION: 

Boehringer Ingelheim Vetmedica, Inc., 

2621 North Belt Highway, St. Joseph, 

MO 64506–2002, filed a supplement to 

NADA 141–186 that provides for use of 

SURPASS (1% diclofenac sodium) 

Topical Cream in horses for the control 

of pain and inflammation associated 

with osteoarthritis. The supplemental 

NADA provides for a revised human 

food safety warning on product labeling. 

The supplemental NADA is approved as 

of August 25, 2009, and the regulations 

are amended in 21 CFR 524.590 to 

reflect the approval. 

Approval of this supplemental NADA 

did not require review of additional 

safety or effectiveness data or 

information. Therefore, a freedom of 

information summary is not required. 

The agency has determined under 21 

CFR 25.33(d)(1) that this action is of a 

type that does not individually or 

cumulatively have a significant effect on 

the human environment. Therefore, 

neither an environmental assessment 

nor an environmental impact statement 

is required. 


sroberts on DSKD5P82C1PROD with RULES
47436 Federal Register / Vol. 74, No. 178 / Wednesday, September 16, 2009 / Rules and Regulations 

This rule does not meet the definition 

of ‘‘rule’’ in 5 U.S.C. 804(3)(A) because 

it is a rule of ‘‘particular applicability.’’ 

Therefore, it is not subject to the 

congressional review requirements in 5 

U.S.C. 801–808. 

List of Subjects in 21 CFR Part 524 

Animal drugs. 

■ Therefore, under the Federal Food, 

Drug, and Cosmetic Act and under the 

authority delegated to the Commissioner 

of Food and Drugs and redelegated to 

the Center for Veterinary Medicine, 21 

CFR part 524 is amended as follows: 

PART 524—OPHTHALMIC AND 

TOPICAL DOSAGE FORM NEW 

ANIMAL DRUGS 

■ 1. The authority citation for 21 CFR 

part 524 continues to read as follows: 

Authority: 21 U.S.C. 360b. 

§ 524.590 [Amended] 

■ 2. In § 524.590, remove the first 

sentence of paragraph (c)(3) ‘‘Not for use 

in horses intended for food.’’ and in its 

place add ‘‘Do not use in horses 

intended for human consumption.’’. 

Dated: September 11, 2009. 

Bernadette Dunham, 

Director, Center for Veterinary Medicine. 

[FR Doc. E9–22292 Filed 9–15–09; 8:45 am] 

BILLING CODE 4160–01–S 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Parts 1 and 602 

[TD 9463] 

RIN 1545–BG77 

Modifications of Commercial Mortgage 

Loans Held by a Real Estate Mortgage 

Investment Conduit (REMIC) 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Final regulation. 

SUMMARY: This document contains final 

regulations that expand the list of 

permitted loan modifications to include 

certain modifications that are often 

made to commercial mortgages. Changes 

to the regulations are necessary to better 

accommodate evolving practices in the 

commercial-mortgage industry. These 

changes will affect lenders, borrowers, 

servicers, and sponsors of 

securitizations of mortgages in REMICs. 

DATES: Effective Date: These regulations 

are effective on or after September 16, 

2009. 

Applicability Date: For date of 

applicability, see § 1.860A–1(b). 

FOR FURTHER INFORMATION CONTACT: 

Diana Imholtz or Susan Thompson 

Baker at (202) 622–3930 (not a toll-free 

number). 

SUPPLEMENTARY INFORMATION: 

Paperwork Reduction Act 

The collection of information 

contained in this final regulation has 

been reviewed and approved by the 

Office of Management and Budget in 

accordance with the Paperwork 

Reduction Act of 1995 (44 U.S.C. 

3507(d)) under control number 1545– 

2110. The collection of information in 

this final regulation is in § 1.860G– 

2(b)(7). This information is required in 

order to show that certain modifications 

to mortgages permitted by this final 

regulation will not cause the modified 

mortgage to cease to be a qualified 

mortgage. The collection of information 

is voluntary to obtain a benefit. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a valid OMB control 

number. 

Books or records relating to a 

collection of information must be 

retained as long as their contents may 

become material in the administration 

of any internal revenue law. Generally, 

tax returns and tax return information 

are confidential, as required by 26 

U.S.C. 6103. 

Background 

This document contains amendments 

to 26 CFR part 1 under section 860G of 

the Internal Revenue Code (Code). In 

Notice 2007–17 (2007–1 CB 748 (March 

19, 2007)), the IRS and the Treasury 

Department requested input on whether 

the present REMIC regulations should 

be amended to permit additional types 

of modifications incurred in connection 

with commercial mortgage loans. See 

§ 601.601(d)(2)(ii)(b). The IRS and the 

Treasury Department received several 

comments in response to this request 

(the Notice 2007–17 Comments). After 

consideration of the Notice 2007–17 

Comments, the IRS and the Treasury 

Department published in the Federal 

Register (72 FR 63523) on November 9, 

2007, proposed regulations (REG– 

127770–07) that would expand the list 

of permitted loan modifications to 

include certain modifications that are 

often made to commercial mortgages. 

The IRS and the Treasury Department 

received additional comments in 

response to the proposed regulations 

(the Proposed Regulation Comments). A 

public hearing was requested and was 

held on April 4, 2008 (73 FR 12041). 

After consideration of the Proposed 

Regulation Comments, the proposed 

regulations are adopted as revised by 

this Treasury decision. 

Summary of Comments and 

Explanation of Provisions 

Except as specifically provided in 

§ 1.860G–2(b)(3), if there is a significant 

modification of an obligation that is 

held by a REMIC, then the modified 

obligation is treated as one that was 

newly issued in exchange for the 

unmodified obligation that it replaced. 

See § 1.860G–2(b)(1). For this purpose, 

the rules in § 1.1001–3(e) determine 

whether a modification is ‘‘significant.’’ 

See § 1.860G–2(b)(2). Because of when it 

is treated as having been acquired in the 

deemed exchange, a significantly 

modified obligation generally fails to be 

a qualified mortgage. Section 1.860G– 

2(b)(3), however, contains a list of 

modifications that are expressly 

permitted without regard to the section 

1001 modification rules. 

The final regulations expand this list 

of permitted exceptions to include 

changes in collateral, guarantees, and 

credit enhancement of an obligation and 

changes to the recourse nature of an 

obligation. These changes are permitted 

so long as the obligation continues to be 

principally secured by an interest in real 

property. The final regulations also 

clarify when a release of a lien on real 

property securing a qualified mortgage 

does not disqualify the mortgage. 

The Proposed Regulation Comments 

included requests for clarification and 

recommendations relating to the 

following: (i) The lien release rule; (ii) 

the requirement to retest the collateral 

value; (iii) the appraisal requirement; 

(iv) changes in the nature of an 

obligation from nonrecourse to recourse; 

(v) investment trusts; and (vi) other 

proposals set forth in the Notice 2007– 

17 Comments that were not included in 

the proposed regulations. 

1. The Lien Release Rule 

The proposed regulations would 

provide that a lien release pursuant to 

certain changes in collateral would not 

cause a qualified mortgage to cease to be 

a qualified mortgage on the date the lien 

is released. Commentators indicated 

that, as drafted, the proposed 

regulations could be interpreted to 

prohibit other types of lien releases, 

including lien releases that are 

occasioned by a default or reasonably 

foreseeable default under § 1.860G– 

2(b)(3)(i) and lien releases that are 

permitted pursuant to the terms of the 

mortgage loan and are not modifications 

for purposes of § 1.1001–3. In response 


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