Federal Register / Vol. 77, No. 135 / Friday, July 13, 2012 / Rules and Regulations 41259 

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Dated: July 10, 2012. 

Debra H. Richardson, 

Deputy General Manager. 

[FR Doc. 2012–17097 Filed 7–12–12; 8:45 am] 

BILLING CODE 3670–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2012–0310; Airspace 

Docket No. 12–ANM–6] 

Modification of Class E Airspace; 

Plentywood, MT 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule. 

SUMMARY: This action modifies Class E 

airspace at Plentywood Sher-Wood 

Airport, Plentywood, MT. Controlled 

airspace is necessary to accommodate 

aircraft using Area Navigation (RNAV) 

Global Positioning System (GPS) 

standard instrument approach 

procedures at Plentywood Sher-Wood 

Airport. This improves the safety and 

management of Instrument Flight Rules 

(IFR) operations at the airport. This 

action also makes a minor adjustment to 

the geographic coordinates of the 

airport. 

DATES: Effective date, 0901 UTC, 

September 20, 2012. The Director of the 

Federal Register approves this 

incorporation by reference action under 

1 CFR part 51, subject to the annual 

revision of FAA Order 7400.9 and 

publication of conforming amendments. 

FOR FURTHER INFORMATION CONTACT: 

Eldon Taylor, Federal Aviation 

Administration, Operations Support 

Group, Western Service Center, 1601 

Lind Avenue SW., Renton, WA 98057; 

telephone (425) 203–4537. 

SUPPLEMENTARY INFORMATION: 

History 

On April 23, 2012, the FAA published 

in the Federal Register a notice of 

proposed rulemaking (NPRM) to modify 

controlled airspace at Plentywood, MT 

(77 FR 24159). Interested parties were 

invited to participate in this rulemaking 

effort by submitting written comments 

on the proposal to the FAA. No 

comments were received. Subsequent to 

publication it was brought to the 

attention of the FAA a minor adjustment 

to the geographic coordinates of the 

airport needed to be made. 

Class E airspace designations are 

published in paragraph 6005, of FAA 

Order 7400.9V dated August 9, 2011, 

and effective September 15, 2011, which 

is incorporated by reference in 14 CFR 

71.1. The Class E airspace designations 

listed in this document will be 

published subsequently in that Order. 

The Rule 

This action amends Title 14 Code of 

Federal Regulations (14 CFR) Part 71 by 

modifying Class E airspace extending 

upward from 700 feet above the surface 

at Plentywood Sher-Wood Airport, 

Plentywood, MT. Controlled airspace is 

necessary to accommodate IFR aircraft 

using RNAV (GPS) standard instrument 

approach procedures at the airport. This 

action is necessary for the safety and 

management of IFR operations. The 

geographic coordinates of the airport are 

adjusted to coincide with the FAA’s 

aeronautical database. 

The FAA has determined this 

regulation only involves an established 

body of technical regulations for which 

frequent and routine amendments are 

necessary to keep them operationally 

current. Therefore, this regulation: (1) Is 

not a ‘‘significant regulatory action’’ 

under Executive Order 12866; (2) is not 

a ‘‘significant rule’’ under DOT 

Regulatory Policies and Procedures (44 

FR 11034; February 26, 1979); and 

(3) does not warrant preparation of a 

regulatory evaluation as the anticipated 

impact is so minimal. Since this is a 

routine matter that will only affect air 

traffic procedures and air navigation, it 

is certified this rule, when promulgated, 

will not have a significant economic 

impact on a substantial number of small 

entities under the criteria of the 

Regulatory Flexibility Act. The FAA’s 

authority to issue rules regarding 

aviation safety is found in Title 49 of the 

U.S. Code. Subtitle 1, Section 106 

discusses the authority of the FAA 

Administrator. Subtitle VII, Aviation 

Programs, describes in more detail the 

scope of the agency’s authority. This 

rulemaking is promulgated under the 

authority described in Subtitle VII, Part 

A, Subpart I, Section 40103. Under that 

section, the FAA is charged with 

prescribing regulations to assign the use 

of airspace necessary to ensure the 

safety of aircraft and the efficient use of 

airspace. This regulation is within the 

scope of that authority as it modifies 

controlled airspace at Plentywood SherWood Airport, Plentywood, MT. 

Environmental Review 

The FAA has determined that this 

action qualifies for categorical exclusion 

under the National Environmental 

Policy Act in accordance with FAA 

Order 1050.1E, ‘‘Environmental 

Impacts: Policies and Procedures,’’ 

paragraph 311a. This airspace action is 

not expected to cause any potentially 

significant environmental impacts, and 

no extraordinary circumstances exist 

that warrant preparation of an 

environmental assessment. 

List of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (air). 

Adoption of the Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

amends 14 CFR part 71 as follows: 

PART 71—DESIGNATION OF CLASS A, 

B, C, D AND E AIRSPACE AREAS; AIR 

TRAFFIC SERVICE ROUTES; AND 

REPORTING POINTS 

■ 1. The authority citation for 14 CFR 

part 71 continues to read as follows: 

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

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 

1963 Comp., p. 389. 

§ 71.1 [Amended] 

■ 2. The incorporation by reference in 

14 CFR 71.1 of the Federal Aviation 

Administration Order 7400.9V, Airspace 


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41260 Federal Register / Vol. 77, No. 135 / Friday, July 13, 2012 / Rules and Regulations 

1 7 U.S.C. 6(c). 

2Section 712(d)(1) provides: ‘‘Notwithstanding 

any other provision of this title and subsections (b) 

and (c), the Commodity Futures Trading 

Commission and the Securities and Exchange 

Commission, in consultation with the Board of 

Governors [of the Federal Reserve System], shall 

further define the terms ‘swap’, ‘security-based 

swap’, ‘swap dealer’, ‘security-based swap dealer’, 

‘major swap participant’, ‘major security-based 

swap participant’, and ‘security-based swap 

agreement’ in section 1a(47)(A)(v) of the 

Commodity Exchange Act (7 U.S.C. 1a(47)(A)(v)) 

and section 3(a)(78) of the Securities Exchange Act 

of 1934 (15 U.S.C. 78c(a)(78)).’’ 

3Section 721(c) provides: ‘‘To include 

transactions and entities that have been structured 

to evade this subtitle (or an amendment made by 

this subtitle), the Commodity Futures Trading 

Commission shall adopt a rule to further define the 

terms ‘swap’, ‘swap dealer’, ‘major swap 

participant’, and ‘eligible contract participant’.’’ 

4Effective Date for Swap Regulation, 76 FR 42508 

(issued and made effective by the Commission on 

July 14, 2011; published in the Federal Register on 

July 19, 2011). Section 712(f) of the Dodd-Frank Act 

states that ‘‘in order to prepare for the effective 

dates of the provisions of this Act,’’ including the 

general effective date set forth in section 754, the 

Commission may ‘‘exempt persons, agreements, 

contracts, or transactions from provisions of this 

Act, under the terms contained in this Act.’’ Section 

754 specifies that unless otherwise provided in 

Title VII, provisions requiring a rulemaking become 

effective ‘‘not less than 60 days after publication of 

the final rule’’ (but not before July 16, 2011). 

5Concurrent with the July 14 Order, the 

Commission’s Division of Clearing and 

Intermediary Oversight (which is now two 

divisions—the Division of Clearing and Risk 

(‘‘DCR’’) and the Division of Swap Dealer and 

Intermediary Oversight (‘‘DSIO’’)) and the Division 

of Market Oversight (‘‘DMO’’) (together ‘‘the 

Divisions’’) identified certain provisions of the 

Dodd-Frank Act and CEA as amended that would 

take effect on July 16, 2011, but that may not be 

eligible for the exemptive relief provided by the 

Commission in its July 14 Order—specifically, the 

amendments made to the CEA by Dodd-Frank Act 

sections 724(c), 725(a), and 731. On July 14, 2011, 

the Divisions issued Staff No-Action Relief 

addressing the application of these provisions after 

July 16, 2011. Available at: http://www.cftc.gov/

ucm/groups/public/@lrlettergeneral/documents/

letter/11-04.pdf. 

6 76 FR at 42522 (July 19, 2011). 

7Amendment to July 14, 2011 Order for Swap 

Regulation, 76 FR 80233 (Dec. 23, 2011). 

Designations and Reporting Points, 

dated August 9, 2011, and effective 

September 15, 2011 is amended as 

follows: 

Paragraph 6005 Class E airspace areas 

extending upward from 700 feet or more 

above the surface of the earth. 

* * * * * 

ANM MT E5 Plentywood, MT [Modified] 

Plentywood Sher-Wood Airport, MT 

(Lat. 48°47′20′′ N., long. 104°31′23′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 6.8-mile 

radius of Plentywood Sher-Wood Airport; 

and that airspace extending upward from 

1,200 feet above the surface bounded by a 

line beginning at lat. 49°00′00′′ N., long. 

105°02′00′′ W.; to lat. 49°00′00′′ N., long. 

104°02′00′′ W.; to lat. 48°32′35′′ N., long. 

104°02′00′′ W.; to lat. 48°27′00′′ N., long. 

104°11′12′′ W.; to lat. 48°26′00′′ N., long. 

104°41′00′′ W.; to lat. 48°17′00′′ N., long. 

104°43′00′′ W.; to lat. 48°17′00′′ N., long. 

105°52′00′′ W.; to lat. 48°32′00′′ N., long. 

105°51′00′′ W.; thence to the point of origin. 

Issued in Seattle, Washington, on July 3, 

2012. 

John Warner, 

Manager, Operations Support Group, Western 

Service Center. 

[FR Doc. 2012–16946 Filed 7–12–12; 8:45 am] 

BILLING CODE 4910–13–P 

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Chapter I 

Second Amendment to July 14, 2011 

Order for Swap Regulation 

AGENCY: Commodity Futures Trading 

Commission. 

ACTION: Final order. 

SUMMARY: On May 16, 2012, the 

Commodity Futures Trading 

Commission (‘‘CFTC’’ or the 

‘‘Commission’’) published in the 

Federal Register a Notice of Proposed 

Amendment (‘‘Notice’’) to extend the 

temporary exemptive relief the 

Commission granted on July 14, 2011 

(‘‘July 14 Order’’) from certain 

provisions of the Commodity Exchange 

Act (‘‘CEA’’) that otherwise would have 

taken effect on the general effective date 

of title VII of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act (‘‘the Dodd-Frank Act’’)—July 16, 

2011. This final order extends the July 

14 Order with certain modifications. 

Specifically, it removes references to the 

entities terms, including ‘‘swap dealer,’’ 

‘‘major swap participant,’’ and ‘‘eligible 

contract participant’’ in light of the final 

joint rulemaking of the CFTC and 

Securities and Exchange Commission 

(‘‘SEC’’) further defining those terms 

issued on April 18, 2012; extends the 

potential latest expiration date of the 

July 14 Order to December 31, 2012, or, 

depending on the nature of the relief, 

such other compliance date as may be 

determined by the Commission; allows 

the clearing of agricultural swaps, as 

described herein; and removes any 

reference to the exempt commercial 

market (‘‘ECM’’) and exempt board of 

trade (‘‘EBOT’’) grandfather relief 

previously issued by the Commission. 

DATES: This final order is effective July 

3, 2012. 

FOR FURTHER INFORMATION CONTACT: 

Mark D. Higgins, Counsel, (202) 418– 

5864, mhiggins@cftc.gov, Office of the 

General Counsel; David Aron, Counsel, 

(202) 418–6621, daron@cftc.gov, Office 

of the General Counsel; David Van 

Wagner, Chief Counsel, (202) 418–5481, 

dvanwagner@cftc.gov, Division of 

Market Oversight; Ali Hosseini, Special 

Counsel, (202) 418–6144, 

ahosseini@cftc.gov, Division of Market 

Oversight, Commodity Futures Trading 

Commission, Three Lafayette Centre, 

1155 21st Street NW., Washington, DC 

20581; or Anne Polaski, Special 

Counsel, (312) 596–0575, 

apolaski@cftc.gov, Division of Clearing 

and Risk; Commodity Futures Trading 

Commission, 525 West Monroe, 

Chicago, Illinois 60661. 

SUPPLEMENTARY INFORMATION: 

Background 

On July 14, 2011, the Commission 

exercised its exemptive authority under 

CEA section 4(c) 1 and its authority 

under section 712(f) of the Dodd-Frank 

Act by issuing the July 14 Order that 

addressed the potential that the final, 

joint CFTC–SEC rulemakings further 

defining the terms in sections 712(d) 2

and 721(c) 3 would not be in effect as of 

July 16, 2011 (i.e., the general effective 

date set forth in section 754 of the 

Dodd-Frank Act).4 In so doing, the 

Commission sought to address concerns 

that had been raised about the 

applicability of various regulatory 

requirements to certain agreements, 

contracts, and transactions after July 16, 

2011, and thereby ensure that current 

practices would not be unduly 

disrupted during the transition to the 

new regulatory regime.5 The July 14 

Order provided that the relief granted 

thereunder would expire no later than 

December 31, 2011.6

On December 23, 2011, the 

Commission published in the Federal 

Register a final order (the ‘‘First 

Amended July 14 Order’’) amending the 

July 14 Order in two ways.7 First, the 

Commission extended the potential 

latest expiry date from December 31, 

2011 to July 16, 2012 or, depending on 

the nature of the relief, such other 

compliance date as may be determined 

by the Commission, to address the 

potential that, as of December 31, 2011, 

the aforementioned joint CFTC–SEC 

joint rulemakings would not be 

effective. Second, the Commission 

included within the relief set forth in 

the First Amended July 14 Order any 

agreement, contract or transaction that 

fully meets the conditions in part 35 as 

in effect prior to December 31, 2011. 

This amendment addressed the fact that 

such transactions, which were not 

included within the scope of the 

original July 14 Order because the 

exemptive rules in part 35 covered them 


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