Federal Register / Vol. 71, No. 225 / Wednesday, November 22, 2006 / Notices 67663 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

1. Because the Trusts do not limit their 

investments to ‘‘eligible trust 

securities,’’ the Trusts do not qualify for 

the exemption in paragraph (c) of rule 

19b–1. Therefore, applicants request an 

exemption under section 6(c) from 

section 19(b) and rule 19b–1 to the 

extent necessary to permit capital gains 

earned in connection with the sale of 

portfolio securities to be distributed to 

Unitholders along with the Series’

regular distributions. In all other 

respects, applicants will comply with 

section 19(b) and rule 19b–1. 

2. Applicants state that their proposal 

meets the standards of section 6(c). 

Applicants assert that any sale of 

portfolio securities would be triggered 

by the need to meet Series’ expenses, 

Installment Payments or by requests to 

redeem Units, events over which the 

Sponsor and the Series have no control. 

Applicants further state that, because 

principal distributions must be clearly 

indicated in accompanying reports to 

Unitholders as a return of principal and 

will be relatively small in comparison to 

normal dividend distributions, there is 

little danger of confusion from failure to 

differentiate among distributions. 

Applicants’ Conditions 

Applicants agree that any order 

granting the requested relief will be 

subject to the following conditions: 

A. DSC and Waiver of DSC Under 

Certain Circumstances 

1. Each Series offering Units subject to 

a DSC will include in its prospectus the 

disclosure required in Form N–1A 

relating to deferred sales charges, 

modified as appropriate to reflect the 

differences between UITs and open-end 

management investment companies, 

and a schedule setting forth the number 

and date of each installment payment. 

2. Any DSC imposed on Units issued 

by a Series will comply with the 

requirements of subparagraphs (1), (2) 

and (3) of rule 6c–10(a) under the Act. 

B. Exchange Privilege, Conversion Offer 

and Rollover Privilege 

1. The prospectus of each Series 

offering exchanges, rollovers, or 

conversions and any sales literature or 

advertising that mentions the existence 

of the Exchange Privilege, Conversion 

Offer or Rollover Privilege will disclose 

that the Exchange Privilege, Conversion 

Offer or Rollover Privilege is subject to 

modification, termination or suspension 

without notice, except in limited cases. 

2. Whenever the Exchange Privilege, 

Conversion Offer or Rollover Privilege is 

to be terminated or its terms are to be 

amended materially, any holder of a 

security subject to that privilege will be 

given prominent notice of the 

impending termination or amendment 

at least 60 days prior to the date of 

termination or the effective date of the 

amendment, provided that: (a) No such 

notice need be given if the only material 

effect of an amendment is to reduce or 

eliminate the sales charge payable at the 

time of an exchange, to make one or 

more New Series eligible for the 

Exchange Privilege, Conversion Offer or 

Rollover Privilege, or to delete a Series 

which has terminated; and (b) no notice 

need be given if, under extraordinary 

circumstances, either (i) there is a 

suspension of the redemption of Units 

of the Series under section 22(e) of the 

Act and the rules and regulations 

promulgated under that section, or (ii) a 

Series temporarily delays or ceases the 

sale of its Units because it is unable to 

invest amounts effectively in 

accordance with applicable investment 

objectives, policies, and restrictions. 

3. An investor who purchases Units 

under the Exchange Privilege, 

Conversion Offer or Rollover Privilege 

will pay a lower sales charge than that 

which would be paid for the Units by 

a new investor. 

C. Net Worth Requirement 

Applicants will comply in all respects 

with the requirements of rule 14a–3, 

except that the Series will not restrict 

their portfolio investments to ‘‘eligible 

trust securities.’’

D. Purchase and Sale Transactions 

Between a Terminating Series and a 

New Series 

1. Each sale of Qualified Securities by 

a Terminating Series to a New Series 

will be effected at the closing price of 

the securities sold on a Qualified 

Exchange on the sale date, without any 

brokerage charges or other remuneration 

except customary transfer fees, if any. 

2. The nature and conditions of such 

transactions will be fully disclosed to 

investors in the appropriate prospectus 

of each Terminating Series and New 

Series. 

3. The Trustee of each Terminating 

Series and New Series will review the 

procedures discussed in the application 

relating to the sale of securities from a 

Terminating Series and the purchase of 

those securities for deposit in a New 

Series, and make such changes to the 

procedures as the Trustee deems 

necessary to ensure compliance with 

paragraphs (a) through (d) of rule 17a–

7. 

4. A written copy of these procedures 

and a written record of each transaction 

pursuant to this order will be 

maintained as provided in rule 17a–7(g). 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Nancy M. Morris, 

Secretary. 

[FR Doc. E6–19739 Filed 11–21–06; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

In the Matter of Digital Gas, Inc.; Order 

of Suspension of Trading 

November 17, 2006. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Digital Gas, 

Inc. (‘‘Digital’’), because of questions 

raised regarding the accuracy and 

adequacy of publicly disseminated 

information concerning, among other 

things, Digital’s announced agreement 

with Techno Rubber, Inc. and Digital’s 

assets. 

The Commission is of the opinion that 

the public interest and the protection of 

investors require a suspension of trading 

in the securities of the above-listed 

company. 

Therefore, it is ordered, pursuant to 

Section 12(k) of the Securities Exchange 

Act of 1934, that trading in the abovelisted company is suspended for the 

period from 9:30 a.m. EST, November 

17, 2006, through 11:59 p.m. EST, on 

December 4, 2006. 

By the Commission. 

Nancy M. Morris, 

Secretary. 

[FR Doc. 06–9332 Filed 11–17–06; 11:31 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–54762; File No. SR–CBOE–

2006–93] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Order Granting Accelerated Approval 

to a Proposed Rule Change Regarding 

Quarterly Options Series 

November 16, 2006. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on November 

8, 2006, the Chicago Board Options 


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