Federal Register / Vol. 62, No. 157 / Thursday, August 14, 1997 / Notices 43573

11Release Nos. 34–37425, 34–37957, and 34–

38645, respectively.

12 In approving this rule filing, the Commission

has considered the proposed rule filing’s impact on

efficiency, competition, and capital formation. 15

U.S.C. 78c(f).

13 17 CFR 200.30–3(a)(12).

carry out the purposes of the Act to

comply with, and enforce compliance

by its members and associated persons

with, the provisions of the Act, the rules

and regulations thereunder, the rules of

the NASD and the federal securities

laws. Furthermore, the amendments are

designed (with amendments to the

Rules of the Association simultaneously

approved in Release No. 34–38908, as

discussed above) to insure a fair

representation of the NASD’s members

in the selection of its directors and

administration of its affairs as well as to

comply with the public and nonindustry participation requirements of

the Act. It is envisioned that these rules

and any subsequent changes that may be

implemented from time-to-time will

enable the NASD to better comply with

the requirements of Section 15A(b)(2) in

particular and the Act in general.

The Commission finds good cause for

approving the proposed rule change

prior to the 30th day after the date of

publication of notice of filing thereof in

that accelerated approval will enhance

the NASD’s ability to carry out its

regulatory obligations under the Act.

The Commission believes that the

proposed rule change is intended to

accomplish certain allocations and

delegations of authority necessary to

reorganize the NASD, and establish as

separate subsidiaries NASD Regulation

and Nasdaq in accordance with the

September 1995 recommendations of

The Select Committee on Structure and

Governance in order to enable the

NASD to meet its regulatory and

business obligations. The Delegation

Plan sets forth the purpose, functions,

governance, procedures, and

responsibilities of the NASD, NASD

Regulation and Nasdaq following the

reorganization of the NASD. The

NASD’s Board of Governors, which has

been reorganized to be consistent with

the proposed rule change, has held

meetings to carry out the business of the

Association. The subsidiaries also have

held meetings of the Board of Directors

of NASD Regulation and Nasdaq in

order to carry out the business of the

subsidiaries during the period in which

the Delegation Plan has been effective.

The instant proposed rule change was

previously published for comment and

approved by the Commission on a

temporary basis for periods of 120 days,

six months, and six months.11 The

second six month approval period is

scheduled to expire on November 15,

1997. No comment letters concerning

the instant proposed rule change were

received by the Commission.

Accordingly, the Commission believes

that accelerating the approval of the

proposed rule change as further

amended by Amendment No. 5 will

benefit members and the public interest

by more fully implementing the

reorganization of the NASD and its

subsidiaries.12

V. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with the

provisions of 5 U.S.C. 552, will be

available for inspection and copying in

the Commission’s Public Reference

Room. Copies of such filing will also be

available for inspection and copying at

the principal office of the NASD. All

submissions should refer to the file

number in the caption above and should

be submitted by September 4, 1997.

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act, that the

proposed rule change SR–NASD–96–29,

as amended by Amendment No. 5, be,

and hereby is, approved through

November 15, 1997.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.13

Jonathan G. Katz,

Secretary.

[FR Doc. 97–21446 Filed 8–13–97; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

[Declaration of Disaster #2973]

State of Alabama

As a result of the President’s major

disaster declaration on July 25, 1997, I

find that Baldwin, Choctaw, and Mobile

Counties in the State of Alabama

constitute a disaster area due to

damages caused by storms, flooding,

and high winds which occurred July

17–22, 1997. Applications for loans for

physical damages may be filed until the

close of business on September 23,

1997, and for loans for economic injury

until the close of business on April 28,

1998 at the address listed below or other

locally announced locations: U.S. Small

Business Administration, Disaster Area

2 Office, One Baltimore Place, Suite

300, Atlanta, GA 30308.

In addition, applications for economic

injury loans from small businesses

located in the following contiguous

counties may be filed until the specified

date at the above location: Clarke,

Escambia, Marengo, Monroe, Sumter,

and Washington Counties in Alabama;

Clarke, George, Greene, Jackson,

Lauderdale, and Wayne Counties in

Mississippi; and Escambia County in

Florida.

Percent

Physical Damage:

Homeowners with credit available elsewhere ........................ 8.000

Homeowners without credit available elsewhere ........................ 4.000

Businesses with credit available

elsewhere ................................ 8.000

Businesses and non-profit organizations without credit available elsewhere ........................ 4.000

Others (including non-profit organizations) with credit available

elsewhere ................................ 7.250

For Economic Injury:

Businesses and small agricultural

cooperatives without credit

available elsewhere ................. 4.000

The number assigned to this disaster

for physical damage is 297306. For

economic injury the numbers are

956800 for Alabama; 956900 for

Mississippi; and 957000 for Florida.

(Catalog of Federal Domestic Assistance

Program Nos. 59002 and 59008)

Dated: August 1, 1997.

Bernard Kulik,

Associate Administrator for Disaster

Assistance.

[FR Doc. 97–21509 Filed 8–13–97; 8:45 am]

BILLING CODE 8025–01–P

SMALL BUSINESS ADMINISTRATION

[Declaration of Disaster #2975]

State of Colorado

As a result of the President’s major

disaster declaration on August 1, 1997,

I find that Larimer, Logan, and Morgan

Counties in the State of Colorado

constitute a disaster area due to