4244 Federal Register / Vol. 76, No. 16 / Tuesday, January 25, 2011 / Rules and Regulations 

Section 230.193 is also issued under sec. 

943, Pub. L. 111–203, 124 Stat. 1376. 

* * * * * 

4. Add § 230.193 to read as follows: 

§ 230.193 Review of underlying assets in 

asset-backed securities transactions. 

An issuer of an ‘‘asset-backed 

security,’’ as that term is defined in 

Section 3(a)(77) of the Securities 

Exchange Act of 1934 (15 U.S.C. 

78c(a)(77)), offering and selling such a 

security pursuant to a registration 

statement shall perform a review of the 

pool assets underlying the asset-backed 

security. At a minimum, such review 

must be designed and effected to 

provide reasonable assurance that the 

disclosure regarding the pool assets in 

the form of prospectus filed pursuant to 

§ 230.424 of this chapter is accurate in 

all material respects. The issuer may 

conduct the review or an issuer may 

employ a third party engaged for 

purposes of performing the review. If 

the findings and conclusions of the 

review are attributed to the third party, 

the third party must be named in the 

registration statement and consent to 

being named as an expert in accordance 

with § 230.436 of this chapter. 

Instruction to § 230.193: An issuer of 

an ‘‘asset-backed security’’ may rely on 

one or more third parties to fulfill its 

obligation to perform a review under 

this section, provided that the reviews 

performed by the third parties and the 

issuer, in the aggregate, comply with the 

minimum standard in this section. The 

issuer must comply with the 

requirements of this section for each 

third party engaged by the issuer to 

perform the review for purposes of this 

section. An issuer may not rely on a 

review performed by an unaffiliated 

originator for purposes of performing 

the review required under this section. 

Dated: January 20, 2011. 

By the Commission. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–1503 Filed 1–24–11; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9505] 

RIN 1545–BG36 

Hybrid Retirement Plans 

Correction 

In rule document 2010–25941 

beginning on page 64123 in the issue of 

Tuesday, October 19, 2010, make the 

following correction: 

§ 1.411(a)(13)–1 [Corrected] 

On page 64137, in § 1.411(a)(13)–1,in 

the first column, in paragraph 

(e)(1)(iii)(E), in the fourth and fifth lines, 

‘‘section 411(a)(13)(B) but would 

otherwise apply’’ should read ‘‘section 

411(a)(13)(B) would otherwise apply’’. 

[FR Doc. C1–2010–25941 Filed 1–24–11; 8:45 am] 

BILLING CODE 1505–01–D 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9391] 

RIN 1545–BF85 

Source Rules Involving U.S. 

Possessions and Other Conforming 

Changes; Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correcting amendment. 

SUMMARY: This document contains a 

correction to final regulations (TD 9391) 

that were published in the Federal 

Register on Wednesday, April 9, 2008 

(73 FR 19350) providing rules under 

section 937(b) of the Internal Revenue 

Code for determining whether income is 

derived from sources within a U.S. 

possession or territory specified in 

section 937(a)(1) (generally referred to 

in this preamble as a ‘‘territory’’) and 

whether income is effectively connected 

with the conduct of a trade or business 

within a territory as well as providing 

guidance under section 932 and other 

provisions related to the territories. 

DATES: This correction is effective on 

January 25, 2011, and is applicable on 

April 9, 2008. 

FOR FURTHER INFORMATION CONTACT: J. 

David Varley, (202) 435–5262 (not a tollfree number). 

SUPPLEMENTARY INFORMATION: 

Background 

The final regulations and removal of 

temporary regulations that are the 

subjects of this document are under 

sections 1, 170A, 861, 871, 876, 881, 

884, 901, 931, 932, 933, 934, 935, 937, 

957, 1402, 6012, 6038, and 6046 of the 

Internal Revenue Code. 

Need for Correction 

As published, final regulations (TD 

9391) contain an error that may prove to 

be misleading and is in need of 

clarification. 

List of Subjects in 26 CFR Part 1 

Income taxes, Reporting and 

recordkeeping requirements. 

Correction of Publication 

Accordingly, 26 CFR part 1 is 

corrected by making the following 

correcting amendment: 

PART 1—INCOME TAXES 

■ Paragraph 1. The authority citation 

for part 1 continues to read in part as 

follows: 

Authority: 26 U.S.C. 7805 * * * 

■ Par. 2. Section 1.932–1 is amended by 

revising paragraph (e)(1) to read as 

follows: 

§ 1.932–1 Coordination of United States 

and Virgin Islands income taxes. 

* * * * * 

(e) * * * (1) U.S. returns. Except as 

otherwise provided for returns filed 

under paragraph (c)(2)(ii) of this section, 

a return required under the rules of 

paragraphs (b) and (c) of this section to 

be filed with the United States must be 

filed as directed in the applicable forms 

and instructions. 

* * * * * 

LaNita Van Dyke, 

Chief, Publications and Regulations Branch, 

Legal Processing Division, Associate Chief 

Counsel, Procedure and Administration. 

[FR Doc. 2011–1408 Filed 1–24–11; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE INTERIOR 

Bureau of Ocean Energy Management 

30 CFR Part 285 

[Docket ID: BOEM–2010–0045] 

RIN 1010–AD71 

Regulation and Enforcement; 

Renewable Energy Alternate Uses of 

Existing Facilities on the Outer 

Continental Shelf—Acquire a Lease 

Noncompetitively 

AGENCY: Bureau of Ocean Energy 

Management, Regulation and 

Enforcement (BOEMRE), Interior. 

ACTION: Withdrawal of direct final rule. 

SUMMARY: BOEMRE is withdrawing the 

direct final rule to amend BOEMRE’s 

renewable energy regulatory provisions 

that pertain to noncompetitive 

acquisition of leases, published on 

November 26, 2010 (75 FR 72679), 

under Docket ID: BOEM–2010–0045. In 

the direct final rule, BOEMRE stated 

that if it received significant adverse 


srobinson on DSKHWCL6B1PROD with RULES
Federal Register / Vol. 76, No. 16 / Tuesday, January 25, 2011 / Rules and Regulations 4245 

comments during the rule’s 30-day 

comment period, it would publish a 

notice of withdrawal in the Federal 

Register. 

BOEMRE has determined that it has 

received significant adverse comments 

during the comment period and, 

therefore, is withdrawing the direct final 

rule. BOEMRE intends to publish a 

notice of proposed rulemaking within 

30 days of the date of this notice in 

order to reinitiate rulemaking. The 

proposed rule will have a 30-day public 

comment period. All comments 

received in response to the original 

November 26, 2010, notice will be 

considered in relation to the proposed 

rule unless they are withdrawn by the 

commenters, so those who commented 

on the original November 26, 2010, 

direct final rule need not re-submit their 

comments. 

However, parties who responded to 

the November 26, 2010, notice may 

submit additional comments on the 

proposed rulemaking. 

FOR FURTHER INFORMATION CONTACT: 

Timothy Redding at (703) 787–1219. 

Dated: January 18, 2011. 

Michael R. Bromwich, 

Director, Bureau of Ocean Energy 

Management, Regulation and Enforcement. 

[FR Doc. 2011–1505 Filed 1–24–11; 8:45 am] 

BILLING CODE 4310–MR–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

38 CFR Parts 3, 17, and 21 

RIN 2900–AN27 

Herbicide Exposure and Veterans With 

Covered Service in Korea 

AGENCY: Department of Veterans Affairs. 

ACTION: Final rule. 

SUMMARY: This document adopts as a 

final rule the Department of Veterans 

Affairs’ (VA) proposal to amend VA 

adjudication, medical, and vocational 

rehabilitation and employment 

regulations to incorporate relevant 

provisions of the Veterans Benefits Act 

of 2003. Specifically, this document 

amends VA regulations regarding 

herbicide exposure of certain veterans 

who served in or near the Korean 

demilitarized zone and regulations 

regarding spina bifida in their children. 

It also amends VA’s medical regulations 

by correcting the Health Administration 

Center’s hand-delivery address. 

DATES: Effective Date: This final rule is 

effective February 24, 2011. 

Applicability Date: This final rule 

shall apply to all applications for 

benefits that are received by VA on or 

after February 24, 2011 and to all 

applications for benefits that were 

pending before VA, the United States 

Court of Appeals for Veterans Claims, or 

the United States Court of Appeals for 

the Federal Circuit on February 24, 

2011. 

FOR FURTHER INFORMATION CONTACT: 

Thomas Kniffen, Regulations Staff 

(211D), Compensation and Pension 

Service, Veterans Benefits 

Administration, Department of Veterans 

Affairs, 810 Vermont Avenue, NW., 

Washington, DC 20420, (202) 461–9366. 

(This is not a toll-free number.) 

SUPPLEMENTARY INFORMATION: On July 

24, 2009, VA published a proposal in 

the Federal Register (74 FR 36640), to 

amend its adjudication, medical, and 

vocational rehabilitation and 

employment regulations by 

incorporating relevant provisions from 

the Veterans Benefits Act of 2003, 

Public Law 108–183. More specifically, 

based on Section 102 of the Act, 

codified at 38 United States Code 

(U.S.C.) 1821, VA proposed to amend 

VA regulations regarding herbicide 

exposure of certain veterans who served 

in or near the Korean demilitarized zone 

and regulations regarding spina bifida in 

such veterans’ children. Additionally, 

VA proposed to amend medical 

regulations by correcting the Health 

Administration Center’s hand-delivery 

address. We provided a 60-day 

comment period and interested persons 

were invited to submit comments on or 

before September 22, 2009. We received 

five written comments from the public 

based on the proposed rule. Two of the 

responses were comments from Vietnam 

Veterans of America (VVA) and 

National Veterans Legal Services 

Program (NVLSP). The remaining three 

comments were from the general public. 

One commenter supported 

promulgation of the proposed 

regulation. The commenter asserted 

approval when stating, ‘‘If passed will 

be a great help towards helping Korea 

DMZ Vets with their exposure.’’ The 

commenter later stated: ‘‘This in fact 

would promote fairness and be 

beneficial to Vets that served along the 

DMZ. However, it appears that the new 

proposed presumption Agent Orange 

exposure rule, [sic] will not benefit 

Korea DMZ Veterans that served outside 

of the 1968/1969 timeframe.’’ 

NVLSP also asserted approval of the 

rule by stating that it ‘‘eliminates the 

need for the claimant to prove a fact that 

would be difficult to prove on his or her 

own* * *such a presumption makes 

the VA claims adjudication process 

more efficient by making it easier for VA 

to decide these claims;’’ however, 

NVLSP also expressed the view that the 

presumption of exposure set forth in the 

proposed rule applies to too narrow a 

period. NVLSP asserted that the period 

should conform to the statutory window 

of September 1, 1967 through August 

31, 1971, stated in the Veterans Benefits 

Act of 2003 and that the proposed rule 

fails to provide for residual exposure to 

herbicides for periods long after 

herbicide spraying had ceased. 

Similarly, VVA expressed that VA is 

‘‘taking a step in the right direction’’ by 

putting ‘‘certain veterans who served in 

Korea along the Demilitarized Zone 

(DMZ) on par with veterans who served 

in Vietnam and were also exposed to 

herbicides.’’ VVA contended that, based 

on past and current scientific evidence 

regarding the long-term effects of 

herbicides, it is clear that herbicides 

‘‘can continue to be toxic and 

hazardous’’ long after they are applied, 

and that veterans who served in Korea 

along the DMZ after July 1969 and have 

a condition consistent with exposure to 

herbicides ‘‘are being left out in the 

cold.’’ VVA stated the view that VA’s 

proposal to limit the period covered by 

the rule is not supported by scientific 

and medical evidence. 

Based upon these comments, VA has 

determined that revisions to the 

proposed rule, which defined the 

presumed exposure period as the period 

from April 1, 1968 to July 31, 1969, are 

necessary in order to adequately reflect 

the statutory provisions in section 102 

of the Veterans Benefits Act of 2003, 

codified at 38 U.S.C. 1821. Section 

1821(c) states, ‘‘[A] veteran of covered 

service in Korea is any individual, 

without regard to the characterization of 

that individual’s service, who—(1) 

Served in the active military, naval, or 

air service in or near the Korean 

demilitarized zone [DMZ], as 

determined by the Secretary in 

consultation with the Secretary of 

Defense, during the period beginning on 

September 1, 1967, and ending on 

August 31, 1971; and (2) is determined 

by the Secretary, in consultation with 

the Secretary of Defense, to have been 

exposed to an herbicide agent during 

such service in or near the Korean 

demilitarized zone.’’ We believe it is 

reasonable and consistent with the 

intent of Congress to concede exposure 

for veterans who served in or near the 

Korean DMZ after herbicide application 

ceased, because of the potential for 

exposure to residuals of herbicides 

applied in that area. See 149 Cong. Rec. 

H11705–01 (2003) (noting that in order 

to account for residual exposure ‘‘it is 

appropriate to extend the qualifying 

service period beyond 1969 to account 


srobinson on DSKHWCL6B1PROD with RULES