Federal Register / Vol. 65, No. 14 / Friday, January 21, 2000 / Proposed Rules 3399

is believed to be as satisfactory, and

thus, this action is recommended.

Regulatory Flexibility Certification

In accordance with the Regulatory

Flexibility Act of 1980 (5 U.S.C. 605(b)),

the NRC certifies that this rule will not,

if promulgated, have a significant

economic impact on a substantial

number of small entities. This proposed

rule affects only the licensing and

operation of nuclear power plants,

independent spent fuel storage facilities,

and NAC. The companies that own

these plants do not fall within the scope

of the definition of ‘‘small entities’’ set

forth in the Regulatory Flexibility Act or

the Small Business Size Standards set

out in regulations issued by the Small

Business Administration at 13 CFR Part

121.

Backfit Analysis

The NRC has determined that the

backfit rule (10 CFR 50.109 or 10 CFR

72.62) does not apply to this proposed

rule because this amendment does not

involve any provisions that would

impose backfits as defined in the backfit

rule. Therefore, a backfit analysis is not

required.

List of Subjects in 10 CFR Part 72

Criminal penalties, Manpower

training programs, Nuclear materials,

Occupational safety and health,

Reporting and recordkeeping

requirements, Security measures, Spent

fuel.

For the reasons set out in the

preamble and under the authority of the

Atomic Energy Act of 1954, as amended;

the Energy Reorganization Act of 1974,

as amended; and 5 U.S.C. 553; the NRC

is proposing to adopt the following

amendments to 10 CFR Part 72.

PART 72—LICENSING

REQUIREMENTS FOR THE

INDEPENDENT STORAGE OF SPENT

NUCLEAR FUEL AND HIGH-LEVEL

RADIOACTIVE WASTE

1. The authority citation for Part 72

continues to read as follows:

Authority: Secs. 51, 53, 57, 62, 63, 65, 69,

81, 161, 182, 183, 184, 186, 187, 189, 68 Stat.

929, 930, 932, 933, 934, 935, 948, 953, 954,

955, as amended, sec. 234, 83 Stat. 444, as

amended (42 U.S.C. 2071, 2073, 2077, 2092,

2093, 2095, 2099, 2111, 2201, 2232, 2233,

2234, 2236, 2237, 2238, 2282); sec. 274, Pub.

L. 86–373, 73 Stat. 688, as amended (42

U.S.C. 2021); sec. 201, as amended, 202, 206,

88 Stat. 1242, as amended, 1244, 1246 (42

U.S.C. 5841, 5842, 5846); Pub. L. 95–601, sec.

10, 92 Stat. 2951 as amended by Pub. L. 10d–

48b, sec. 7902, 10b Stat. 31b3 (42 U.S.C.

5851); sec. 102, Pub. L. 91–190, 83 Stat. 853

(42 U.S.C. 4332); secs. 131, 132, 133, 135,

137, 141, Pub. L. 97–425, 96 Stat. 2229, 2230,

2232, 2241, sec. 148, Pub. L. 100–203, 101

Stat. 1330–235 (42 U.S.C. 10151, 10152,

10153, 10155, 10157, 10161, 10168).

Section 72.44(g) also issued under secs.

142(b) and 148(c), (d), Pub. L. 100–203, 101

Stat. 1330–232, 1330–236 (42 U.S.C.

10162(b), 10168(c),(d)). Section 72.46 also

issued under sec. 189, 68 Stat. 955 (42 U.S.C.

2239); sec. 134, Pub. L. 97–425, 96 Stat. 2230

(42 U.S.C. 10154). Section 72.96(d) also

issued under sec. 145(g), Pub. L. 100–203,

101 Stat. 1330–235 (42 U.S.C. 10165(g)).

Subpart J also issued under secs. 2(2), 2(15),

2(19), 117(a), 141(h), Pub. L. 97–425, 96 Stat.

2202, 2203, 2204, 2222, 2244, (42 U.S.C.

10101, 10137(a), 10161(h)). Subparts K and L

are also issued under sec. 133, 98 Stat. 2230

(42 U.S.C. 10153) and sec. 218(a), 96 Stat.

2252 (42 U.S.C. 10198).

2. In § 72.214, Certificate of

Compliance 1015 is added to read as

follows:

§ 72.214 List of approved spent fuel

storage casks.

* * * * *

Certificate Number: 1015.

SAR Submitted by: NAC

International, Inc.

SAR Title: Final Safety Analysis

Report for the NAC UMS Universal

Storage System.

Docket Number: 72–1015.

Certificate Expiration Date: [insert 20

years after the effective date of the final

rule].

Model Number: NAC–UMS.

* * * * *

Dated at Rockville, Maryland, this 27th day

of December, 1999.

For the Nuclear Regulatory Commission.

Patricia G. Norry,

Acting Executive Director for Operations.

[FR Doc. 00–1454 Filed 1–20–00; 8:45 am]

BILLING CODE 7590–01–D

SECURITIES AND EXCHANGE

COMMISSION

17 CFR Chapter II

[Release Nos. 33–7790, 34–42331, 35–27125,

39–2381, IC–24238, IA–1850; File No. S7–

02–00]

List of Rules To Be Reviewed Pursuant

to the Regulatory Flexibility Act

AGENCY: Securities and Exchange

Commission.

ACTION: Publication of list of rules

scheduled for review.

SUMMARY: The Securities and Exchange

Commission is today publishing a list of

rules to be reviewed pursuant to Section

610 of the Regulatory Flexibility Act.

The list is published to provide the

public with notice that these rules are

scheduled for review by the agency and

to invite public comment on them.

DATES: Public comments are due by

February 15, 2000.

ADDRESSES: Persons wishing to submit

written comments should file three

copies with Jonathan G. Katz, Secretary,

Securities and Exchange Commission,

450 Fifth Street, NW, Room 6184,

Washington, DC 20549–0609. All

submissions should refer to File No. S7–

XX–00, and will be available for public

inspection and copying at the

Commission’s Public Reference Room,

Room 1026, at the same address.

FOR FURTHER INFORMATION CONTACT:

Anne H. Sullivan, Office of the General

Counsel, Securities and Exchange

Commission 202–942–0954.

SUPPLEMENTARY INFORMATION: The

Regulatory Flexibility Act (‘‘RFA’’)

codified at 5 U.S.C. 600–611 requires

agencies to review rules which have a

significant economic impact upon a

substantial number of small entities

every ten years. The purpose of the

review is to ‘‘to determine whether such

rules should be continued without

change, or should be amended or

rescinded * * * to minimize any

significant economic impact of the rules

upon a substantial number of such small

entities’’ (5 U.S.C. 610(a)).

The RFA sets forth specific

considerations that must be addressed

in the review of each rule:

• the continued need for the rule;

• the nature of complaints or

comments received concerning the rule

from the public;

• the complexity of the rule;

• the extent to which the rule

overlaps, duplicates or conflicts with

other Federal rules, and, to the extent

feasible, with State and local

governmental rules; and

• the length of time since the rule has

been evaluated or the degree to which

technology, economic conditions, or

other factors have changed in the area

affected by the rule (5 U.S.C. 610(c)).

The Commission particularly solicits

public comment on whether the rules

listed below affect small businesses in

new or different ways than when they

were first adopted. The Securities and

Exchange Commission, as a matter of

policy, reviews all rules which it

publishes for notice and comment to

assess not only their continued

compliance with the RFA, but also to

assess generally their continued utility.

When the Commission implemented the

Act in 1980, it stated that it ‘‘intend[ed]

to conduct a broader review [than that

3400 Federal Register / Vol. 65, No. 14 / Friday, January 21, 2000 / Proposed Rules

required by the RFA], with a view to

identifying those rules in need of

modification or even rescission.’’ Sec.

Act. Rel. No. 6302 (Mar. 20, 1980). 46

FR 19251. The list below is therefore

broader than that required by the RFA

(and may include rules that do not have

a substantial impact on a significant

number of small entities). Where the

Commission has previously made a

determination of a rule’s impact on

small businesses, the determination is

noted on the list.

Pursuant to the RFA, the rules and

forms listed below are scheduled for

review by staff of the Commission

during the next twelve months. The

rules are grouped according to which

Division or Office of the Commission

will review each rule:

Form To Be Reviewed by the Division

of Corporation Finance

Title: Form S–8.

Citation: 17 CFR 239.16b.

Authority: 15 U.S.C. 77a et seq.

Description: Form S–8 is a registration

statement under the Securities Act of

1933 used for the registration of

securities issued to employees under

employee benefit plans and other

compensatory arrangements.

Prior Commission Determination

Under 5 U.S.C. 601: In connection with

the release adopting major revisions to

Form S–8 published in the Federal

Register on June 13, 1990, the

Commission concluded in its Final

Regulatory Flexibility Analysis that the

changes would benefit small entities by

decreasing significantly the impact of

reporting, recordkeeping and

compliance requirements upon

registrants and plans registering on

Form S–8. On March 8, 1999, the

Commission published subsequent

amendments designed to deter fraud in

connection with the use of Form S–8. In

the Final Regulatory Flexibility

Analysis, the Commission determined

that no new regulatory burdens were

being imposed.

Rule To Be Reviewed by the Office of

the Chief Accountant

Title: Article 12 of Regulation S–X.

Citation: 17 CFR 210.12–01 through

210.12–29.

Authority: 15 U.S.C. 77a et seq.; 15

U.S.C. 78a et seq.; 15 U.S.C. 79a et seq.;

and 15 U.S.C. 80a–1 et seq.

Description: Article 12 prescribes the

form and content of schedules that

should be attached to a registrant’s

financial statements.

Prior Commission Final Action Under

5 U.S.C. 601: Article 12 was

significantly revised in Accounting

Series Release No. 280, which was

published in the Federal Register on

September 2, 1980. The Article has been

revised subsequently, with the most

recent amendments published in

Financial Reporting Release No. (FR) 44

on December 13, 1994. FR 44 eliminated

several schedules as part of the

Commission’s disclosure simplification

program. These changes were designed

to reduce the burden on small issuers

and others.

Rule To Be Reviewed by the Division of

Market Regulation

Title: Rule 14e–4 (Prohibited

Transactions in Connection with Partial

Tender Offers).

Citation: 17 CFR 240.14e–4.

Authority: 15 U.S.C. 78c, 78j, 78n,

78o, and 78w.

Description: Rule 14e–4 prohibits

‘‘short tendering,’’ i.e., tendering more

shares than a person owns in order to

avoid or reduce the risk of pro rata

acceptance in partial tender and

‘‘hedged tendering’’ in connection with

partial tender offers, i.e., tendering and

then selling a portion of the tendered

shares in the market.

Prior Commission Determination

Under 5 U.S.C. 601: In connection with

the release proposing rule 14e–4, which

was published in the Federal Register

on March 8, 1989, the Chairman of the

Commission certified that the rule

would not have a significant economic

impact on a substantial number of small

entities. The Commission received no

comments on the certification.

Rules and Forms To Be Reviewed by

the Division of Investment Management

Title: Rule 11a–3.

Citation: 17 CFR 270.11a–3.

Authority: 15 U.S.C. 80a–6(c), 80a–

11(a), 80a–37, and 80a–39.

Description: Rule 11a–3 under the

Investment Company Act of 1940 sets

forth conditions under which an openend investment company (‘‘fund’’),

other than a separate account, may offer

a security holder of the fund, or of any

other fund in the same fund group, to

exchange his security for a security of

the offering fund.

Prior Commission Final Action Under

5 U.S.C. 601: The Commission prepared

a Final Regulatory Flexibility Analysis

(‘‘FRFA’’) in connection with the release

adopting rule 11a–3, published in the

Federal Register on August 24, 1989.

The Commission stated that the

exemptive rule was intended to reduce

significantly the expense and burden to

funds, including small funds, of filing

applications regarding exchange offers.

In addition, to the extent that funds

relying on the rule would be required to

make disclosures, the Commission

concluded those requirements would

not result in a significant economic

impact on a substantial number of small

entities. The Commission adopted

conforming amendments to the rule’s

definition of ‘‘deferred sales load’’ in

September 1996, which did not affect

the Commission’s FRFA.

Title: Rule 32a–3.

Citation: 17 CFR 270.32a–3.

Authority: 15 U.S.C. 80a–6(c), 80a–37,

and 80a–39.

Description: Rule 32a–3 under the

Investment Company Act of 1940

provides an exemption from the

provision of Section 32(a)(1) of that Act

regarding the time period during which

a registered management investment

company must select an independent

public accountant.

Prior Commission Final Action Under

5 U.S.C. 601: In connection with the

release proposing Rule 32a–3, which

was published in the Federal Register

on March 8, 1989, the Chairman

certified that if adopted, the rule would

not have a significant economic effect

on a substantial number of small

entities. The Commission received no

comments on the certification.

Title: Form N–17f–2.

Citation: 17 CFR 274.220.

Authority: 15 U.S.C. 80a–37 and 80a–

39.

Description: Form N–17f–2 under the

Investment Company Act of 1940 is

filed under Rule 17f–2 of that Act. The

Form is the cover page for a certificate

of accounting of securities and similar

investments of a management

investment company that are

maintained in the custody of that

company.

Prior Commission Final Action Under

5 U.S.C. 601: In connection with the

release proposing rule Form N–17f–2,

which was published in the Federal

Register on August 9, 1989, the

Chairman certified that if adopted, the

form would not have a significant

economic effect on a substantial number

of small entities. The Commission

received no comments on the

certification.

Title: Form ADV–E.

Citation: 17 CFR 279.8.

Authority: 15 U.S.C. 80b–1 et seq.

Description: Form ADV–E under the

Investment Advisers Act of 1940 is the

form used as a cover page for a

certificate of accounting of securities

and funds in possession or custody of

an investment adviser.

Prior Commission Final Action Under

5 U.S.C. 601: The Chairman signed a

Regulatory Flexibility Certification in

connection with the release adopting

Form ADV–E. The release was

Federal Register / Vol. 65, No. 14 / Friday, January 21, 2000 / Proposed Rules 3401

published in the Federal Register on

August 4, 1989. The Certification states

that, if adopted, the Form will not have

a significant economic impact on a

substantial number of small entities.

The Certification states that Form ADV–

E would serve as a cover sheet to

accountant examination certificates, and

consequently, only entities required to

file an examination certificate would be

required to file the proposed form. The

Certification also states that the form

would neither require additional

information to be gathered or disclosed,

nor impose a new filing burden.

Therefore, the form would not have a

significant economic impact on a

substantial number of small entities.

Title: Form U–13–1.

Citation: 17 CFR 259.113.

Authority: 15 U.S.C. 79e, 79f, 79g, 79j,

79l, 79m, 79q, and 79t.

Description: Form U–13–1 under the

Public Utility Holding Company Act of

1935 is the application to be filed for

approval of a company as a mutual

service company pursuant to Rule 88

under the Act or the declaration to be

filed with respect to the organization

and conduct of business of a subsidiary

service company pursuant to Rule 88

under the Act.

Prior Commission Final Action Under

5 U.S.C. 601: The Form was adopted

prior to the enactment of the Regulatory

Flexibility Act, and has not been

amended since the enactment of the

RFA. The Commission has taken no

prior action on this Form under the

RFA.

Title: Form U–12(I)–A.

Citation: 17 CFR 259.212a.

Authority: 15 U.S.C. 79e, 79f, 79g, 79j,

79l 79m, 79q and 79t.

Description: Form U–12(I)–A under

the Public Utility Holding Company Act

of 1935 is a statement to be filed by a

person employed by a registered

holding company or employed by a

subsidiary of a registered holding

company who engages in any activity

within the scope of Section 12(I) of the

Act.

Prior Commission Final Action Under

5 U.S.C. 601: In connection with the

release proposing revisions to Form U–

12(I)–A published in the Federal

Register on November 4, 1992, the

Chairman of the Commission certified

that the amended rules would not have

a significant impact on a substantial

number of small entities. The

Commission received no comments on

the certification.

Title: Form U–12(I)–B.

Citation: 17 CFR 259.212b.

Authority: 15 U.S.C. 79e, 79f, 79g, 79j,

79l, 79m, 79q, and 79t.

Description: Form U–12(I)–B under

the Public Utility Holding Company Act

of 1935 is an advance statement to be

filed every three years by a person

employed by a registered holding

company or employed by a subsidiary of

a registered holding company who

engages in any activity within the scope

of Section 12(I) of the Act and whose

anticipated activities contemplate only

routine expenses as specified in Rule

71(b) under the Act.

Prior Commission Final Action Under

5 U.S.C. 601: In connection with the

release adopting revisions to Form U–

12(I)–B published in the Federal

Register on April 28, 1994, the

Chairman of the Commission certified

that the amended rules would not have

a significant impact on a substantial

number of small entities.

Title: Form U–R–1.

Citation: 17 CFR 259.221.

Authority: 15 U.S.C. 79e, 79f, 79g, 79j,

79l, 79m, 79q, and 79t.

Description: Form U–R–1 under the

Public Utility Holding Company Act of

1935 is a declaration to be filed

pursuant to Rule 62 under the Act for

solicitations in connection with any

reorganization subject to the rule.

Prior Commission Final Action Under

5 U.S.C. 601: The Form was adopted

prior to the enactment of the Regulatory

Flexibility Act and has not been

amended since the enactment of the

RFA. The Commission has taken no

prior action on this Form under the

RFA.

Title: Form U–13–60.

Citation: 17 CFR 259.313.

Authority: 15 U.S.C. 79m.

Description: Form U–13–60 under the

Public Utility Holding Company Act of

1935 is to be filed pursuant to Rule 94

under the Act by mutual service

companies and subsidiary service

companies required under the rule to

file annual reports under Section 13 of

the Act.

Prior Commission Final Action Under

5 U.S.C. 601: The Form was adopted

prior to the enactment of the Regulatory

Flexibility Act and has not been

amended since the enactment of the

RFA. The Commission has taken no

prior action on this Form under the

RFA.

Title: Form U–3A3–1.

Citation: 17 CFR 259.403.

Authority: 15 U.S.C. 79e, 79f, 79g, 79j,

79l, 79m, 79q and 79t.

Description: Form U–3A3–1 under the

Public Utility Holding Company Act of

1935 is a statement to be filed pursuant

to Rule 3 under the Act by a bank

claiming exemption from any

obligation, duty, or liability as a holding

company under the Act.

Prior Commission Final Action Under

5 U.S.C. 601: The Form was adopted

prior to the enactment of the Regulatory

Flexibility Act, and has not been

amended since the enactment of the

RFA. The Commission has taken no

prior action on this Form under the

RFA.

The Commission invites public

comment on both the list and on the

rules to be reviewed.

By the Commission.

Dated: January 12, 2000.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–1475 Filed 1–20–00; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG–208254–90]

RIN 1545–AO72

Source of Compensation for Labor or

Personal Services

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice of proposed rulemaking

and notice of public hearing.

SUMMARY: This document contains a

proposed Income Tax Regulation

describing the appropriate basis for

determining the source of income from

labor or personal services performed

partly within and partly without the

United States. This proposed regulation

would modify the existing final

regulation under section 861 of the

Internal Revenue Code (Code). This

regulation would affect foreign and

United States persons that perform

services partly within and partly

without the United States during the

taxable year. This document also

provides a notice of a public hearing on

this proposed regulation.

DATES: Written and electronic comments

and outlines of topics to be discussed at

the public hearing scheduled for April

19, 2000, must be received by March 29,

2000.

ADDRESSES: Send submissions to:

CC:DOM:CORP:R (REG–208254–90),

room 5226, Internal Revenue Service,

POB 7604, Ben Franklin Station,

Washington, DC 20044. Submissions

may be hand delivered Monday through

Friday between the hours of 8 a.m. and

5 p.m. to: CC:DOM:CORP:R (REG–

208254–90), Courier’s Desk, Internal

Revenue Service, 1111 Constitution