Federal Register / Vol. 62, No. 144 / Monday, July 28, 1997 / Rules and Regulations 40255

Promotion, and Consumer Information

Act of 1990 (7 U.S.C. 6201–6212); the

Soybean Promotion, Research, and

Consumer Information Act of 1990 (7

U.S.C. 6301–6311); the Fluid Milk

Promotion Act of 1990 (7 U.S.C. 6401–

6417); the Fresh Cut Flowers and Fresh

Cut Greens Promotion and Consumer

Information Act (7 U.S.C. 6801–6814);

the Sheep Promotion, Research, and

Information Act of 1994 (7 U.S.C. 7101–

7111); The Commodity Promotion,

Research, and Information Act of 1996

(7 U.S.C. 7411–7425); the Canola and

Rapeseed Research, Promotion, and

Consumer Information Act (7 U.S.C.

7441–7452); the National Kiwifruit

Research, Promotion, and Consumer

Information Act (7 U.S.C. 7461–7473);

and, the Popcorn Promotion, Research,

and Consumer Information Act (7 U.S.C.

7481–7491). This authority includes

determining the programs and activities

to be undertaken and assuring that they

are coordinated with the overall

departmental programs to develop

foreign markets for U.S. agricultural

products.

* * * * *

Subpart N—Delegations of Authority

by the Assistant Secretary for

Marketing and Regulatory Programs

5. Section 2.79 is amended by adding

new paragraphs (a)(8)(1viii) through

(lxii) to read as follows:

§ 2.79 Administrator, Agricultural

Marketing Service.

(a) * * *

(8) * * *

(lviii) Commodity Promotion and

Evaluation (7 U.S.C. 7401);

(lix) Commodity Promotion, Research,

and Information Act of 1996 (7 U.S.C.

7411–7425), except as specified in

§ 2.43(a)(24);

(lx) The Canola and Rapeseed

Research, Promotion, and Consumer

Information Act (7 U.S.C. 7441–7452),

except as specified in § 2.43(a)(24);

(lxi) The National Kiwifruit Research,

Promotion, and Consumer Information

Act (7 U.S.C. 7461–7473), except as

specified in § 2.43(a)(24); and

(lxii) The Popcorn Promotion,

Research, and Consumer Information

Act (7 U.S.C. 7481–7491), except as

specified in § 2.43(a)(24).

* * * * *

Dated: July 21, 1997.

Dan Glickman,

Secretary of Agriculture.

Dated: July 11, 1997.

Dallas R. Smith,

Under Secretary for Farm and Foreign

Agricultural Services.

Dated: July 9, 1997.

Michael V. Dunn,

Assistant Secretary for Marketing and

Regulatory Programs.

[FR Doc. 97–19799 Filed 7–25–97; 8:45 am]

BILLING CODE 3410–01–P

DEPARTMENT OF AGRICULTURE

Agricultural Marketing Service

7 CFR Part 1208

[FV–97–703]

Fresh Cut Flowers and Fresh Cut

Greens Promotion and Information

Order

AGENCY: Agricultural Marketing Service,

USDA.

ACTION: Final rule.

SUMMARY: This document removes the

requirement of the Fresh Cut Flowers

and Fresh Cut Greens Promotion and

Information Order (Order) that each

qualified handler pays to the National

PromoFlor Council (Council) an

assessment in the amount of 0.5 percent

on wholesale sales of fresh cut flowers

and greens as specified in the Order.

The remaining provisions of the Order

and regulations issued thereunder will

be terminated at a later date. This action

is necessary because termination of the

Order was favored by a majority of the

qualified handlers voting in a

referendum conducted from June 2

through 20, 1997.

EFFECTIVE DATE: July 29, 1997.

FOR FURTHER INFORMATION: Sonia N.

Jimenez, Research and Promotion

Branch, Fruit and Vegetable Division,

AMS, USDA, P.O. Box 96456, Room

2535–S, Washington, DC 20090–6456,

telephone (202) 720–9915 or (888) 720–

9917.

SUPPLEMENTARY INFORMATION: This

action is issued under the Fresh Cut

Flowers and Fresh Cut Greens

Promotion and Information Act of 1993

[7 U.S.C. 6801–6814] (Act).

Prior documents in this proceeding:

Fresh Cut Flowers and Fresh Cut Greens

Promotion and Information Order,

December 29, 1994 [59 FR 67139];

Referendum Procedures, April 14, 1997

[62 FR 18033]; and Referendum Order,

April 21, 1997 [62 FR 19301].

This action has been determined to be

non-significant for purposes of

Executive Order 12866 and therefore

has not been reviewed by OMB.

This action has been reviewed under

Executive Order 12988, Civil Justice

Reform. It is not intended to have

retroactive effect. This action will not

preempt any State or local laws,

regulations, or policies, unless they

present an irreconcilable conflict with

this termination order.

Regulatory Flexibility Analysis

In accordance with the Regulatory

Flexibility Act [5 U.S.C. 601 et seq.]

(RFA), the Agricultural Marketing

Service has considered the economic

impact of this action on small entities.

The Act, which authorizes the

creation of a generic program of

promotion and information for fresh cut

flowers and greens, became effective on

December 14, 1993.

Section 7(a) of the Act provides that

the Secretary of Agriculture (Secretary)

shall conduct a referendum not later

than 3 years after the issuance of an

order to ascertain whether the order

then in effect shall be continued. The

Order was issued on December 29, 1994.

Paragraph (a)(2) of § 7 of the Act

requires that the Order be approved by

a simple majority of all votes cast in the

referendum. In addition, paragraph (b)

of § 7 of the Act specifies that each

qualified handler eligible to vote in the

referendum shall be entitled to cast one

vote for each separate facility of the

person that is an eligible separate

facility. The voting period for the

referendum was June 2 through 20,

1997.

Only those wholesale handlers

(including, but not limited to, wholesale

jobbers, bouquet and floral article

manufacturers, auction houses that clear

the sale of cut flowers and greens, and

retail distribution centers), producers,

and importers who have annual sales of

$750,000 or more of fresh cut flowers

and greens and who sell those products

to exempt handlers, retailers, or

consumers are considered qualified

handlers and assessed under the Order.

There are approximately 643 qualified

handlers who are covered by the

program. Small agricultural service

firms, which include the qualified

handlers covered under the Order, have

been defined by the Small Business

Administration [13 CFR 121.601] as

those whose annual receipts are less

than $5 million. Only 127 qualified

handlers have been identified to have $5

million in annual sales.

It is concluded that the majority of

qualified handlers may be classified as

small entities.
40256 Federal Register / Vol. 62, No. 144 / Monday, July 28, 1997 / Rules and Regulations

This action terminates the

requirements of the Order for qualified

handlers to remit assessments.

Currently, an estimated 643 qualified

handlers pay about $10 million

annually. When the Order was

published in the Federal Register on

December 29, 1994, the U.S. Department

of Agriculture (USDA) stated that, with

regard to the RFA, although the

maximum assessment collection was

expected to total about $10 million

annually, the economic impact of a 1.0

percent or less assessment on each

qualified handler would not be

significant. This holds true today with

the current 0.5 percent assessment rate.

Under this termination order, qualified

handlers would no longer be required to

pay assessments.

Statistics reported by the National

Agricultural Statistics Service show that

in 1995 sales of domestic cut flowers

and cut greens totaled approximately

$521.3 million at the wholesale level.

The leading producing states by

wholesale value are California, with

about 49 percent of the total of flower

and cut green production, followed by

Florida, Colorado and Hawaii. Sales

information for 1996 will not be

available until after publication of this

rule.

The value of imports of cut flowers in

1996 was $557.7 million. Major

countries exporting cut flowers to the

United States, by value, are Colombia

which accounts for about 66 percent of

the value, followed by the Netherlands

(10 percent), Ecuador (12 percent), Costa

Rica (3 percent), and Mexico (3 percent).

The Act and Order also provide for

refunds of assessments, under certain

conditions, for those handlers who

requested the refund before the initial

referendum was held, and if the Order

is rejected by voters in the referendum.

Therefore, the exact impact of this

action will vary according to the amount

of assessments handlers have been

remitting and would remit under the

Order and whether such handlers

requested a refund.

This action will not impose any

additional reporting or recordkeeping

requirements on either large or small

qualified handlers of cut flowers and

greens.

The Department has not identified

any relevant Federal rules that

duplicate, overlap, or conflict with this

rule.

Background

This action terminates Order

requirements to pay assessments and is

governed by § 7(d) of the Act. The Act

authorizes a national fresh cut flowers

and greens promotion, research, and

information program, also known as

PromoFlor. In accordance with the Act,

USDA developed and implemented the

Order [7 CFR 1208.1–1208.85], which

became effective on December 29, 1994.

Section 7(a) of the Act requires that

the Secretary conduct a referendum not

later than 3 years after issuance of an

order to determine whether qualified

handlers favor continuation of the order.

The order directing that a referendum be

conducted was published in the Federal

Register on April 21, 1997 [62 FR

19301]. The representative period for

establishing voter eligibility for the

referendum was the period from January

1, 1996, through December 31, 1996. A

referendum was conducted by mail

ballot from July 2 through 20, 1997.

Termination of the Order was favored

by 58 percent of the qualified handlers

casting valid ballots in the referendum.

Therefore, pursuant to § 7(d) of the

Act and § 1208.60 of the Order, it is

hereby found and determined that

termination of the Order is favored by

a majority of the qualified handlers

voting in the referendum and that the

Order should therefore be terminated.

Section 7(d) of the Act provides that,

if the Secretary determines that

termination of the Order is favored by

a majority of all votes cast in the

referendum, the Secretary shall

terminate, as appropriate the collection

of assessments under the Order not later

than 180 days after the referendum

results are announced. Further, the

Secretary is required to terminate, as

appropriate, activities under the Order

as soon as practicable and in an orderly

manner. A separate order will be

published in the Federal Register

terminating the remaining Order

requirements and provisions.

In accordance with § 1208.61, the

Council will recommend not more than

five of its members to the Secretary to

serve as trustees for purposes of

liquidating the assets of the Council.

Termination of the Order and any of

its provisions, including the

requirements to remit assessments, shall

not:

(a) Affect or waive any right, duty,

obligation, or liability which shall have

arisen or which may thereafter arise in

connection with any provision of the

Order; or

(b) Release or extinguish any violation

of this Order; or

(c) Affect or impair any rights or

remedies of the United States, or of the

Secretary, or of any other person with

respect to any such violation.

Section 5(h)(4) of the Act [7 U.S.C.

6804(h)(4)] provides that refunds of

assessments shall be made out of the

escrow account to those qualified

handlers who applied for such refunds

prior to the conduct of the referendum

and submitted satisfactory proof that

they paid the assessment for which

refund is requested. If the amount in the

escrow account is not sufficient to

refund the total amount of assessments

demanded, the amount of all such

refunds shall be prorated among all

eligible qualified handlers that demand

the refunds. Section 1208.61 of the

Order provides that refunds are to be

made within 30 days of the date the

results of the referendum are released by

the Secretary.

Order

It is therefore ordered, That the terms

and provisions of Subpart A of the

Order requiring fresh cut flowers and

greens qualified handlers to pay an

assessment used to finance the national

program for fresh cut flowers and fresh

cut greens promotion and information [7

CFR Part 1208] are hereby terminated.

It is also found and determined upon

good cause that it is impracticable,

unnecessary, and contrary to the public

interest to give preliminary notice or to

engage in further public procedure prior

to putting this action into effect, and

that good cause exists for not

postponing the effective date of this

action until 30 days after publication in

the Federal Register because: (1) This

action terminates the requirements of

the Order that each qualified handler

remit assessments; (2) termination of the

Order was favored by a majority of

qualified handlers voting in the

referendum; and (3) the Act requires

that, upon such a determination by

referendum, collection of assessments

should terminate no later than 180 days

after the referendum.

List of Subjects in 7 CFR Part 1208

Administrative practice and

procedure, Advertising, Consumer

information, Marketing agreements,

Plants, Promotion, Reporting and

recordkeeping requirements.

PART 1208—FRESH CUT FLOWERS

AND FRESH CUT GREENS

PROMOTION AND INFORMATION

ORDER

Subpart A—Fresh Cut Flowers and

Fresh Cut Greens Promotion and

Information Order

1. The authority citation for 7 CFR

Part 1208 continues to read as follows:

Authority: 7 U.S.C. 6801 et seq.

2. A note is added to § 1208.50 to read

as follows:
Federal Register / Vol. 62, No. 144 / Monday, July 28, 1997 / Rules and Regulations 40257

§ 1208.50 Assessments.

* * * * *

Note to § 1208.50: The requirement to pay

assessments is terminated as of July 29, 1997.

Dated: July 22, 1997.

Lon Hatamiya,

Administrator Agricultural Marketing

Service.

[FR Doc. 97–19705 Filed 7–25–97; 8:45 am]

BILLING CODE 3410–02–P

FEDERAL RESERVE SYSTEM

12 CFR Parts 207, 220, 221 and 224

[Regulations G, T, U and X]

Securities Credit Transactions; List of

Marginable OTC Stocks; List of

Foreign Margin Stocks

AGENCY: Board of Governors of the

Federal Reserve System.

ACTION: Final rule; determination of

applicability of regulations.

SUMMARY: The List of Marginable OTC

Stocks (OTC List) is composed of stocks

traded over-the-counter (OTC) in the

United States that have been determined

by the Board of Governors of the Federal

Reserve System to be subject to the

margin requirements under certain

Federal Reserve regulations. The List of

Foreign Margin Stocks (Foreign List) is

composed of foreign equity securities

that have met the Board’s eligibility

criteria under Regulation T. The OTC

List and the Foreign List are published

four times a year by the Board. This

document sets forth additions to and

deletions from the previous OTC List

and the previous Foreign List.

EFFECTIVE DATE: August 11, 1997.

FOR FURTHER INFORMATION CONTACT:

Peggy Wolffrum, Securities Regulation

Analyst, Division of Banking

Supervision and Regulation, (202) 452–

2781, Board of Governors of the Federal

Reserve System, Washington, DC 20551.

For the hearing impaired only, contact

Dorothea Thompson,

Telecommunications Device for the Deaf

(TDD) at (202) 452–3544.

SUPPLEMENTARY INFORMATION: Listed

below are the deletions from and

additions to the Board’s OTC List,

which was last published on April 28,

1997 (62 FR 22881), and became

effective May 12, 1997. A copy of the

complete OTC List is available from the

Federal Reserve Banks.

The OTC List includes those stocks

traded over-the-counter in the United

States that meet the criteria in

Regulations G, T, and U (12 CFR Parts

207, 220 and 221, respectively). This

determination also affects the

applicability of Regulation X (12 CFR

Part 224). These stocks have the degree

of national investor interest, the depth

and breadth of market, and the

availability of information respecting

the stock and its issuer to warrant

regulation in the same fashion as

exchange-traded securities. The OTC

List also includes any OTC stock

designated for trading in the national

market system (NMS security) under

rules approved by the Securities and

Exchange Commission (SEC).

Additional OTC stocks may be

designated as NMS securities in the

interim between the Board’s quarterly

publications. They will become

automatically marginable upon the

effective date of their NMS designation.

The names of these stocks are available

at the SEC and at the National

Association of Securities Dealers, Inc.

and will be incorporated into the

Board’s next quarterly publication of the

OTC List.

Also listed below are the deletions

from and additions to the Foreign List,

which was last published on April 28,

1997 (62 FR 22881), and became

effective May 12, 1997. A copy of the

complete Foreign List is available from

the Federal Reserve banks.

Public Comment and Deferred Effective

Date

The requirements of 5 U.S.C. 553 with

respect to notice and public

participation were not followed in

connection with the issuance of this

amendment due to the objective

character of the criteria for inclusion

and continued inclusion on the Lists

specified in 12 CFR 207.6 (a) and (b),

220.17 (a), (b), (c) and (d), and 221.7 (a)

and (b). No additional useful

information would be gained by public

participation. The full requirements of 5

U.S.C. 553 with respect to deferred

effective date have not been followed in

connection with the issuance of this

amendment because the Board finds

that it is in the public interest to

facilitate investment and credit

decisions based in whole or in part

upon the composition of these Lists as

soon as possible. The Board has

responded to a request by the public

and allowed approximately a two-week

delay before the Lists are effective.

List of Subjects

12 CFR Part 207

Banks, Banking, Credit, Margin,

Margin requirements, National Market

System (NMS Security), Reporting and

recordkeeping requirements, Securities.

12 CFR Part 220

Banks, Banking, Brokers, Credit,

Margin, Margin requirements,

Investments, National Market System

(NMS Security), Reporting and

recordkeeping requirements, Securities.

12 CFR Part 221

Banks, Banking, Credit, Margin,

Margin requirements, National Market

System (NMS Security), Reporting and

recordkeeping requirements, Securities.

12 CFR Part 224

Banks, Banking, Borrowers, Credit,

Margin, Margin requirements, Reporting

and recordkeeping requirements,

Securities.

Accordingly, pursuant to the

authority of sections 7 and 23 of the

Securities Exchange Act of 1934, as

amended (15 U.S.C. 78g and 78w), and

in accordance with 12 CFR 207.2(k) and

207.6 (Regulation G), 12 CFR 220.2 and

220.17 Regulation T), and 12 CFR

221.2(j) and 221.7 (Regulation U), there

is set forth below a listing of deletions

from and additions to the OTC List and

the Foreign List.

Deletions From the List of Marginable OTC

Stocks

Stocks Removed for Failing Continued Listing

Requirements

ALLERGAN LIGAN RETINOID

THERAPEUTICS, INC.

Units (expire 06–05–97)

AVERT, INC.

Warrants (expire 04–30–97)

BELL CABLEMEDIA PLC

American Depositary Receipts

BIOTECHNICA INTERNATIONAL, INC.

$.01 par common

BLACK HAWK GAMING & DEVELOPMENT

COMPANY

Class B, warrants (expire 06–30–97)

BRE-X MINERALS, LIMITED

No par common

CELEBRITY ENTERTAINMENT, INC.

$.01 par common

CODE–ALARM, INC.

No par common

COUNTRY STAR RESTAURANTS, INC.

Series A, 6% par cumulative preferred

DELGRATIA MINING CORPORATION

No par common

ERD WASTE CORPORATION

$.001 par common

ESSEX CORPORATION

$.10 par common

FIRST MORTGAGE CORPORATION

No par common

FLAGSTAR COMPANIES, INC.

$.50 par common, Series A, $.10 par

cumulative convertible preferred

GRAPHIX ZONE, INC.

No par common

GROOTVLEI PROPRITARY MINES

American Depositary Receipts

INAMED CORPORATION

$.01 par common

INTEGRATED WASTE SERVICES, INC.