24514 Federal Register / Vol. 65, No. 81 / Wednesday, April 26, 2000 / Notices

Open Session (2 p.m.–5 p.m.)

Open Session Minutes, March 2000

Closed Session Items for August 2000

Chairman’s Report

Director’s Report

Executive Committee Annual Report

NSB 2001 Calendar

Committee Reports

Director’s 1999 Merit Review Report

NSB Report on Communication and

Outreach

NSF Budget and Planning

National S&E Infrastructure

Marta Cehelsky,

Executive Officer.

[FR Doc. 00–10502 Filed 4–24–00; 12:50 pm]

BILLING CODE 7555–01–M

NUCLEAR REGULATORY

COMMISSION

Sunshine Act Meetings

AGENCY HOLDING THE MEETING: Nuclear

Regulatory Commission.

DATES: Weeks of April 24, May 1, 8, 15,

22 and 29, 2000.

PLACE: Commissioners’ Conference

Room, 11555 Rockville Pike, Rockville,

MD.

STATUS: Public and closed.

MATTERS TO BE CONSIDERED: 

Week of April 24

There are no meetings scheduled for

the Week of April 24.

Week of May 1—Tentative

Tuesday, May 2

9:30 a.m. Briefing on Oconee License

Renewal (public meeting)

(Contact: Dave Lange, 301–415–1730)

Wednesday, May 3

9:25 a.m. Affirmation Session (public

meeting) (if needed)

9:30 a.m. Briefing on Efforts Regarding

Release of Solid Material (public

meeting)

(Contact: Frank Cardile, 301–415–

6185)

Week of May 8—Tentative

Monday, May 8

10 a.m. Briefing on Lessons Learned

from the Nuclear Criticality

Accident at Tokai-Mura and the

Implications on the NRC’s Program

(public meeting)

(Contact: Bill Troskoski, 301–415–

8076)

Tuesday, May 9

8:55 a.m. Affirmation Session (public

meeting) (if needed)

9 a.m. Meeting with Stakeholders on

Efforts Regarding Release of Solid

Material (public meeting)

Contact: Frank Cardile, 301–415–

6185)

Week of May 15—Tentative

Tuesday, May 16

9:25 a.m. Affirmation Session (public

meeting) (if needed)

Week of May 22—Tentative

Thursday, May 25

8:30 a.m. Briefing on Operating

Reactors and Fuel Facilities (public

meeting)

10:15 a.m. Briefing on Status of

Regional Programs, Performance

and Plans (public meeting)

1:30 p.m. Briefing on Improvements to

2.206 Process (public meeting)

Week of May 29—Tentative

Tuesday, May 30

9:25 a.m. Affirmation Session (public

meeting) (if needed)

The schedule for Commission

meetings is subject to change on short

notice. To verify the status of meetings

call (recording)—(301) 415–1292.

CONTACT PERSON FOR MORE INFORMATION:

Bill Hill, (301) 415–1661.

The NRC Commission Meeting

Schedule can be found on the Internet

at http://www.nrc.gov/SECY/smj/

schedule.htm.

This notice is distributed by mail to

several hundred subscribers; if you no

longer wish to receive it, or would like

to be added to it, please contact the

Office of the Secretary, Attn: Operations

Branch, Washington, DC 20555 (301–

415–1661). In addition, distribution of

this meeting notice over the Internet

system is available. If you are interested

in receiving this Commission meeting

schedule electronically, please send an

electronic message to wmh@nrc.gov or

dkw@nrc.gov.

Dated: April 21, 2000.

William M. Hill, Jr.,

SECY Tracking Officer, Office of the

Secretary.

[FR Doc. 00–10506 Filed 4–24–00; 12:45 am]

BILLING CODE 7590–01–M

NUCLEAR REGULATORY

COMMISSION

Consolidated Guidance About

Materials Licenses: Program-Specific

Guidance About Special Nuclear

Material of Less Than Critical Mass

Licenses

AGENCY: U.S. Nuclear Regulatory

Commission (NRC).

ACTION: Notice of availability and

request for comments.

SUMMARY: The NRC is announcing the

availability of, and requesting comments

on, draft NUREG–1556, Volume 17,

‘‘Consolidated Guidance about Materials

Licenses: Program-Specific Guidance

about Special Nuclear Material of Less

Than Critical Mass Licenses,’’ dated

March 2000.

The NRC is using Business Process

Redesign techniques to redesign its

materials licensing process, as described

in NUREG–1539, ‘‘Methodology and

Findings of the NRC’s Materials

Licensing Process Redesign.’’ A critical

element of the new process is

consolidating and updating numerous

guidance documents into a NUREGseries of reports. This draft NUREG

report is the 17th guidance document

developed to support an improved

materials licensing process.

This guidance is intended for use by

applicants, licensees, and the NRC staff,

and will also be available to Agreement

States. This document combines and

updates the guidance found in

Regulatory Guide 10.3, ‘‘Guide for the

Preparation of Applications for Special

Nuclear Material Licenses of Less Than

Critical Mass Quantities.’’ This draft

report takes a more risk-informed,

performance-based approach to

licensing quantities of special nuclear

material of less than critical mass, and

reduces the information (amount and

level of detail) needed to support an

application to use this material. This

document is strictly for public comment

and is not for use in preparing or

reviewing licenses until it is published

in final form. It is being distributed for

comment to encourage public

participation in its development.

DATES: The comment period ends July

25, 2000. Comments received after that

time will be considered if practicable.

ADDRESSES: Submit written comments

to: Chief, Rules and Directives Branch,

Division of Administrative Services,

Office of Administration, U.S. Nuclear

Regulatory Commission, Washington,

DC 20555–0001. Hand-deliver

comments to 11545 Rockville Pike,

Rockville, Maryland, between 7:15 a.m.

and 4:30 p.m. on Federal workdays.

Comments may also be submitted

through the Internet by addressing

electronic mail to dlm1@nrc.gov.

Those considering public comment

may request a free single copy of draft

NUREG–1556, Volume 17, by writing to

the U.S. Nuclear Regulatory

Commission, ATTN: Mrs. Carrie Brown,

Mail Stop TWFN 9–C–24, Washington,

DC 20555–0001. Alternatively, submit

requests through the Internet by

Federal Register / Vol. 65, No. 81 / Wednesday, April 26, 2000 / Notices 24515

addressing electronic mail to

cxb@nrc.gov. A copy of draft NUREG–

1556, Volume 17, is also available for

inspection and/or copying for a fee in

the NRC Public Document Room, 2120

L Street, NW. (Lower Level),

Washington, DC 20555–0001.

The Presidential Memorandum dated

June 1, 1998, entitled, ‘‘Plain Language

in Government Writing,’’ directed that

the Federal government’s writing be in

plain language. The NRC requests

comments on this licensing guidance

NUREG specifically with respect to the

clarity and effectiveness of the language

used. Comments should be sent to the

address listed above.

FOR FURTHER INFORMATION CONTACT: Mrs.

Carrie Brown, TWFN 9-F–24, Division

of Industrial and Medical Nuclear

Safety, Office of Nuclear Material Safety

and Safeguards, U.S. Nuclear Regulatory

Commission, Washington, DC 20555,

telephone (301) 415–8092; electronic

mail address: cxb@nrc.gov.

Electronic Access

Draft NUREG–1556, Vol. 17 is

available electronically by visiting the

NRC’s Home Page (http://www.nrc.gov/

nrc/nucmat.html).

Dated at Rockville, Maryland, this 6th day

of April, 2000.

For the Nuclear Regulatory Commission.

Anthony N. Tse,

Acting Chief, Rulemaking and Guidance

Branch, Division of Industrial and Medical

Nuclear Safety, NMSS.

[FR Doc. 00–10391 Filed 4–25–00; 8:45 am]

BILLING CODE 7590–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–24399; File No. 812–11886]

The Kelmoore Strategy TM Variable

Trust, et al.

April 19, 2000.

AGENCY: Securities and Exchange

Commission (the ‘‘Commission’’ or

‘‘SEC’’).

ACTION: Notice of application for an

order pursuant to Section 6(c) of the

Investment Company Act of 1940 (the

‘‘1940 Act’’ for exemptions from the

provisions of Sections 9(a), 13(a), 15(a)

and 15(b) of the 1940 Act and Rules 6e–

2(b)(15) and 6e–3(T)(b)(15) thereunder.

SUMMARY OF APPLICATION: Applicants

seek exemptive relief to the extent

necessary to permit shares of any

current or future investment portfolios

of The Kelmoore Strategy TM Variable

Trust (‘‘Trust’’), and shares of any other

investment company or portfolio that is

designed to fund insurance products

and for which Kelmoore Investment

Company, Inc. or nay of its affiliates

may serve in the future as investment

adviser, manager, principal underwriter,

sponsor administrator (‘‘Future Trusts’’)

(the Trust together with Future Trusts

are the ‘‘Trusts’’), to be sold to and held

by separate accounts funding variable

annuity and variable life insurance

contracts (collectively referred to herein

as ‘‘Variable Contracts’’) issued by both

affiliated and unaffiliated life insurance

companies and by qualified pension and

retirement plans (‘‘Qualified Plans’’ or

‘‘Plans’’) outside of the separate account

context.

APPLICANTS: The Kelmoore Strategy TM

Variable Trust (the ‘‘Trust’’) and

Kelmoore Investment Company, Inc.

(‘‘Kelmoore’’).

FILING DATE: The application was filed

on December 14, 1999, and amended

and restated on March 22, 2000.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the Commission orders a

hearing. Interested persons may request

a hearing by writing to the Secretary of

the Commission and serving Applicants

with a copy of the request, personally or

by mail. Hearing requests must be

received by the Commission by 5:30

p.m. on May 15, 2000, and accompanied

by proof of service on the Applicants in

the form of an affidavit or, for lawyers,

a certificate of service. Hearing requests

should state the nature of the writer’s

interest, the reason for the request, and

the issues contested. Persons who wish

to be notified of a hearing may request

notification by writing to the Secretary

of the Commission.

ADDRESSES: Secretary, Securities and

Exchange Commission, 450 Fifth Street,

N.W., Washington, DC 20549–0609.

Applicants: Kelmoore Investment

Company, Inc., 2471 East Bayshore

Road, Suite 501, Palo Alto, CA 94303,

Attn: Ralph M. Kelmon, Jr., President.

FOR FURTHER INFORMATION CONTACT:

Kevin P. McEnery, Senior counsel, or

Susan M. Olson, Branch Chief, Office of

Insurance Products, Division of

Investment Management, at (202) 942–

0670.

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application. The complete application is

available for a fee from the SEC’s Public

Reference Branch, 450 Fifth Street,

N.W., Washington, D.C. 20549–0102

(tel. (202) 942–8090).

Applicant’s Representations

1. The Trust is a Delaware business

trust that is registered under the 1940

Act as an open-end management

investment company. The Trust

currently consists of a single investment

portfolio, The Kelmoore Strategy TM

Covered Option Fund (the ‘‘Fund’’). The

Trust may offer one or more additional

investment portfolios in the future (each

a ‘‘Future Fund, and together with the

Fund, the Funds’’).

2. Kelmoore is registered as an

investment adviser under the 1940 Act,

and serves as the investment adviser to

the Trust and also acts as the

underwriter of the shares of the Trust.

3. Once the Trust commences

operations, shares representing interests

in the Fund will be offered to insurance

companies (each a ‘‘Participating

Insurance Company’’) as an investment

vehicle for separate accounts (‘‘Separate

Accounts’’) supporting Variable

Contracts.

4. At the time of their investment in

the Trust, the Participating Insurance

Companies have or will establish their

own Separate Accounts and design their

own Variable Contracts. Each

participating Insurance Company, on

behalf of its Separate Account, has or

will enter into an agreement with the

Trust concerning such Participating

Insurance Company’s participation in

the Fund. Each Participating Insurance

Company has or will have the legal

obligation of satisfying all applicable

requirements under both state and

federal law. The role of the Trust under

this agreement, insofar as the federal

securities laws are applicable, will

consist of, among other things, offering

shares of the Funds to the participating

Separate Accounts and complying with

any conditions that the Commission

may impose upon granting the order

requested in the application.

Applicants also propose that the Trust

may offer and sell shares representing

interests in the Funds directly to

Qualified Plans outside the separate

account context.

Applicants’ Legal Analysis

1. Applicants and their affiliates

request an order pursuant to Section

6(c) of the 1940 Act exempting each

insurance company and insurance

company separate account supporting

Variable Contracts which may hereafter

invest in the Trusts from the provisions

of Sections 9(a), 13(a), 15(a), and 15(b)

of the 1940 Act, and Rules 6e–2(b)(15)

and 6e–3(T)(b)(15) thereunder, to the

extent necessary to permit shares of the

Trusts to be sold to and held by separate

accounts funding Variable Contracts

issued by both affiliated and unaffiliated

insurance companies and by Qualified

Plans. Applicants also request that the

relief, to the extent necessary, extend to