920 Federal Register / Vol. 62, No. 4 / Tuesday, January 7, 1997 / Rules and Regulations

(33.8% and 32.7%, respectively) has

decreased as compared to October and

November 1995 (49.6% and 36.1%,

respectively). A decrease in Class I

utilization is also apparent for the

January through March 1996 period as

compared to the same months of 1995.

Class I utilization declined from 34.7

percent for January 1995 to 32.1 percent

in January 1996, 35.7 percent to 33.1

percent for the month of February, and

from 34.2 percent to 31.7 percent for

March of such years. This suggests that

sufficient supplies of milk for fluid use

should be available during the months

of December 1996 through March 1997

for Iowa order distributing plants.

Therefore, a decrease in the shipping

requirement is warranted. By reducing

the shipping requirement percentage for

the December 1996 through March 1997

period to 20 percent, a reasonable

balance will be reached which will

prevent uneconomic shipments from

occurring, as well as assure a sufficient

milk supply.

It is hereby found and determined

that 30 days’ notice of the effective date

hereof is impractical, unnecessary, and

contrary to the public interest in that:

(a) This temporary revision is

necessary to reflect current marketing

conditions and to maintain orderly

marketing conditions in the marketing

area for the months of December 1996

through March 1997;

(b) This temporary revision does not

require of persons affected substantial or

extensive preparation prior to the

effective date; and

(c) Notice of the proposed temporary

revision was given interested parties

and they were afforded opportunity to

file written data, views, or arguments

concerning this temporary revision.

Therefore, good cause exists for

making this temporary revision effective

less than 30 days from the days from the

date of issuance.

List of Subject in 7 CFR Part 1079

Milk marketing orders.

For the reasons set forth in the

preamble, 7 CFR Part 1079 is amended

as follows:

PART 1079—MILK IN THE IOWA

MARKETING AREA

1. The authority for 7 CFR Part 1079

continues to read as follows:

Authority: 7 U.S.C. 601-674.

§ 1079.7 [Amended]

2. In § 1079.7(b), the introductory text

is amended by revising the words ‘‘30

percent’’ to read ‘‘20 percent’’ effective

December 1, 1996, through March 31,

1997.

Dated: December 31, 1996.

Richard M. McKee,

Director, Dairy Division.

[FR Doc. 97–278 Filed 1–6–97; 8:45 am]

BILLING CODE 3410–02–P

TENNESSEE VALLEY AUTHORITY

18 CFR Part 1314

Book-Entry Procedures for TVA Power

Securities Issued Through the Federal

Reserve Banks

AGENCY: Tennessee Valley Authority

(TVA).

ACTION: Final rule.

SUMMARY: This final rule revises the

procedures governing the issuance of,

and transactions in, all TVA Power

Securities issued in book-entry form

through the Federal Reserve Banks.

These revisions incorporate recent

changes in commercial and property

law and bring TVA’s book-entry

procedures into accord with the revised

book-entry procedures of the United

States Department of Treasury.

EFFECTIVE DATE: January 7, 1997.

FOR FURTHER INFORMATION CONTACT:

Edward S. Christenbury at (423) 632–

2241.

SUPPLEMENTARY INFORMATION: TVA, a

wholly owned corporate agency and

instrumentality of the United States, is

authorized to issue bonds, notes, and

other evidences of indebtedness to assist

its power program. Many TVA Power

Securities are available exclusively in

book-entry form and are thus subject to

TVA’s book-entry procedures. This final

rule revises TVA’s book-entry

procedures to incorporate recent

changes in commercial and property

law and to bring them into accord with

the revised book-entry procedures of the

United States Department of Treasury

published in the Federal Register on

August 23, 1996 (61 FR 43,626).

Because the revised Treasury

Regulations become effective on January

1, 1997, it is in the public interest that

this final rule become effective as close

to this date as possible to facilitate

TVA’s performance of its

responsibilities under Section 15d and

other sections of the TVA Act, 16 U.S.C.

831–831dd. The notice, public

comment, and delayed effective date are

therefore contrary to the public interest

and inapplicable to this final rule.

List of Subjects in 18 CFR Part 1314

Accounting, Bonds, Brokers, Federal

Reserve System, Reporting and

recordkeeping requirements, Securities.

For the reasons set forth in the

preamble, part 1314 of chapter XIII of

title 18 of the Code of Federal

Regulations is revised to read as follows:

PART 1314—BOOK-ENTRY

PROCEDURES FOR TVA POWER

SECURITIES ISSUED THROUGH THE

FEDERAL RESERVE BANKS

Sec.

1314.1 Applicability and effect.

1314.2 Definition of terms.

1314.3 Authority of Reserve Banks.

1314.4 Law governing the rights and

obligations of TVA and Reserve Banks;

law governing the rights of any Person

against TVA and Reserve Banks; law

governing other interests.

1314.5 Creation of Participant’s Security

Entitlement; security interests.

1314.6 Obligations of TVA.

1314.7 Liability of TVA and Reserve Banks.

1314.8 Identification of accounts.

1314.9 Waiver of regulations.

1314.10 Additional provisions.

Authority: 16 U.S.C. 831–831dd.

§ 1314.1 Applicability and effect.

(a) Applicability. The regulations in

this part govern the issuance of, and

transactions in, all TVA Power

Securities issued by TVA in book-entry

form through the Reserve Banks.

(b) Effect. The TVA Power Securities

to which the regulations in this part

apply are obligations which, by the

terms of their issue, are available

exclusively in book-entry form through

the Reserve Banks’ Book-entry System.

§ 1314.2 Definition of terms.

Unless the context requires otherwise,

terms used in this part 1314 that are not

defined in this section have the

meanings as set forth in 31 CFR 357.2.

Definitions and terms used in 31 CFR

part 357 should be read as though

modified to effectuate their application

to Book-entry TVA Power Securities

where applicable.

Book-entry System means the

automated book-entry system operated

by the Reserve Banks acting as the fiscal

agent for TVA on which Book-entry

TVA Power Securities are issued,

recorded, transferred, and maintained in

book-entry form.

(b) Book-entry TVA Power Security

means any TVA Power Security issued

or maintained in the Book-entry System

of the Reserve Banks.

(c) CUSIP Number is a unique

identification for each security issue

established by the Committee on

Uniform Security Identification

Procedures.

(d) Depository Institution means any

Participant.

(e) Entitlement Holder means a Person

to whose account an interest in a Book-
Federal Register / Vol. 62, No. 4 / Tuesday, January 7, 1997 / Rules and Regulations 921

1A copy of the TVA Basic Bond Resolution may

be obtained upon request directed to TVA, 400

West Summit Hill Drive, Knoxville, Tennessee

37902–1499, Attn.: Treasurer.

entry TVA Power Security is credited on

the records of a Securities Intermediary.

(f) Funds Account means a reserve

and/or clearing account at a Reserve

Bank to which debits or credits are

posted for transfers against payment,

book-entry securities transaction fees, or

principal and interest payments.

(g) Other TVA Power Evidences of

Indebtness means any TVA Power

Security issued under section 2.5 of the

TVA Basic Bond Resolution (see

paragraph (r) of this section).

(h) Participant (also called ‘‘holder’’

in the TVA Basic Bond Resolution)

means a Person that maintains a

Participant’s Security Account with a

Reserve Bank.

(i) Participant’s Security Account

means an account in the name of a

Participant at a Reserve Bank to which

Book-entry Securities held for a

Participant are or may be credited.

(j) Person means and includes an

individual, corporation, company,

governmental entity, association, firm,

partnership, trust, estate, representative,

and any other similar organization, but

does not mean or include the United

States or a Reserve Bank.

(k) Reserve Banks means the Federal

Reserve Banks of the Federal Reserve

System and their branches.

(l) Reserve Bank Operating Circular

means the publication issued by each

Reserve Bank that sets forth the terms

and conditions under which the Reserve

Bank maintains book-entry securities

accounts and transfers book-entry

securities.

(m) Securities Documentation means

the applicable documents establishing

the terms of a Book-entry TVA Power

Security.

(n) Securities Intermediary means:

(1) A Person that is registered as a

‘‘clearing agency’’ under the Federal

securities law; a Reserve Bank; any

other Person that provides clearance or

settlement services with respect to a

Book-entry TVA Power Security that

would require it to register as a clearing

agency under the Federal securities laws

but for an exclusion or exemption from

the registration requirement, if its

activities as a clearing corporation,

including promulgation of rules, are

subject to regulation by a Federal or

State governmental authority; or

(2) A Person (other than an

individual, unless such individual is

registered as a broker or dealer under

the Federal securities laws), including a

bank or broker, that in the ordinary

course of business maintains securities

accounts for others and is acting in that

capacity.

(o) Security Entitlement means the

rights and property interests of an

Entitlement Holder with respect to a

Book-entry TVA Power Security.

(p) State means any State of the

United States, the District of Columbia,

Puerto Rico, the Virgin Islands, or any

other territory or possession of the

United States.

(q) TVA means the Tennessee Valley

Authority, a wholly owned corporate

agency and instrumentality of the

United States of America created and

existing under the Tennessee Valley

Authority Act of 1933, as amended (16

U.S.C. 831–831dd).

(r) TVA Basic Bond Resolution means

the Basic Tennessee Valley Authority

Power Bond Resolution 1 adopted by the

TVA Board of Directors on October 6,

1960, as heretofore and hereafter

amended.

(s) TVA Power Bond means any TVA

Power Security issued by TVA under

section 2.2 of the TVA Basic Bond

Resolution and the supplemental

resolution adopted by the TVA Board of

Directors authorizing the issuance

thereof.

(t) TVA Power Bond Anticipation

Obligation means any TVA Power

Security issued under section 2.3 of the

TVA Basic Bond Resolution.

(u) TVA Power Note means any Other

TVA Power Evidences of Indebtedness

in the form of a note having a maturity

at the date of issue of less than one year.

(v) TVA Power Security means a TVA

Power Bond, TVA Power Bond

Anticipation Obligation, TVA Power

Note, or Other TVA Power Evidence of

Indebtedness issued by TVA under

section 15d of the TVA Act, as

amended, and the TVA Basic Bond

Resolution.

§ 1314.3 Authority of Reserve Banks.

(a) Each Reserve Bank is hereby

authorized as fiscal agent of TVA to

perform the following functions with

respect to the issuance of Book-entry

TVA Power Securities offered and sold

by TVA to which this part 1314 applies,

in accordance with the Securities

Documentation, Reserve Bank Operating

Circulars, this part 1314, and

procedures established by the Secretary

of the United States Treasury consistent

with these authorities:

(1) To service and maintain Bookentry TVA Power Securities in accounts

established for such purposes;

(2) To make payments with respect to

such securities, as directed by TVA;

(3) To effect transfer of Book-entry

TVA Power Securities between

Participants’ Securities Accounts as

directed by the Participants;

(4) To perform such other duties as

fiscal agent as may be requested by

TVA.

(b) Each Reserve Bank may issue

Reserve Bank Operating Circulars not

inconsistent with this part 1314,

governing the details of its handling of

Book-entry TVA Power Securities,

Security Entitlements, and the operation

of the Book-entry System under this part

1314.

§ 1314.4 Law governing the rights and

obligations of TVA and Reserve Banks; law

governing the rights of any Person against

TVA and Reserve Banks; law governing

other interests.

(a) Except as provided in paragraph

(b) of this section, the following rights

and obligations are governed solely by

the book-entry regulations contained in

this part 1314, the Securities

Documentation (but not including any

choice of law provisions in such

documentation), and Reserve Bank

Operating Circulars;

(1) The rights and obligations of TVA

and Reserve Banks with respect to:

(i) A book-entry TVA Power Security

or Security Entitlement; and

(ii) The operation of the Book-entry

System as it applies to TVA Power

Securities; and

(2) The rights of any Person, including

a Participant, against TVA and Reserve

Banks with respect to:

(i) A Book-entry TVA Power Security

or Security Entitlement; and

(ii) The operation of the Book-entry

System as it applies to TVA Power

Securities.

(b) A security interest in a Security

Entitlement that is in favor of a Reserve

Bank from a Participant and that is not

recorded on the books of a Reserve Bank

pursuant to § 1314.5(c) is governed by

the law (not including the conflict-oflaw rules) of the jurisdiction where the

head office of the Reserve Bank

maintaining the Participant’s securities

account is located. A security interest in

a Security Entitlement that is in favor of

a Reserve Bank from a Person that is not

a Participant, and that is not recorded

on the books of a Reserve Bank pursuant

to § 1314.5(c), is governed by the law

determined in the manner specified in

paragraph (d) of this section.

(c) If the jurisdiction specified in the

first sentence of paragraph (b) of this

section is a State that has not adopted

Revised Article 8, then the law specified

in paragraph (b) of this section shall be

the law of that State as though Revised

Article 8 had been adopted by that

State.

(d) To the extent not otherwise

inconsistent with this part 1314, and
922 Federal Register / Vol. 62, No. 4 / Tuesday, January 7, 1997 / Rules and Regulations

notwithstanding any provision in the

Security Documentation setting forth a

choice of law, the provisions set forth in

31 CFR 357.11 regarding law governing

other interests apply and should be read

as though modified to effectuate the

application of 31 CFR 357.11 to Bookentry TVA Power Securities.

§ 1314.5 Creation of Participant’s Security

Entitlement; security interests.

(a) A Participant’s Security

Entitlement is created when a Reserve

Bank indicates by book-entry that a

Book-entry TVA Power Security has

been credited to a Participant’s security

account.

(b) A security interest in a Security

Entitlement of a Participant in favor of

the United States to secure deposits of

public money, including without

limitation deposits to the Treasury tax

and loan accounts, or other security

interest in favor of the United States that

is required by Federal statute, regulation

or agreement, and that is marked on the

books of a Reserve Bank, is thereby

effected and perfected, and has priority

over any other interest in the securities.

Where a security interest in favor of the

United States in a Security Entitlement

of a participant is marked on the books

of a Reserve bank, such Reserve Bank

may rely, and is protected in relying,

exclusively on the order of an

authorized representative of the United

States directing the transfer of the

security. For purposes of this paragraph,

an ‘‘authorized representative of the

United States’’ is the official designated

in the applicable regulations or

agreement to which a Reserve Bank is a

party governing the security interest.

(c) TVA and Reserve Banks have no

obligation to agree to act on behalf of

any Person or to recognize the interest

of any transferee of a security interest or

other limited interest in favor of any

Person except to the extent of any

specific requirement of Federal law or

regulation or to the extent set forth in

any specific agreement with the Reserve

Bank on whose books the interest of the

Participant is recorded. To the extent

required by such law or regulation or set

forth in an agreement with a Reserve

Bank or in a Reserve Bank Operating

Circular, a security interest in a Security

Entitlement that is in favor of a Reserve

Bank or a Person may be created and

perfected by a Reserve Bank marking its

books to record the security interest.

Subject to paragraph (b) of this section

with respect to a security interest in

favor of the United States, a security

interest in a Security Entitlement

marked on the books of a Reserve Bank

shall have priority over any other

interest in the securities.

(d) In addition to the method

provided in paragraph (c) of this

section, a security interest, including a

security interest in favor of a Reserve

Bank, may be perfected by any method

by which a security interest may be

perfected under applicable law as

described in § 1314.4(b) or (d). The

perfection, effect of perfection or nonperfection, and priority of a security

interest are governed by such applicable

law. A security interest in favor of a

Reserve Bank shall be treated as a

security interest in favor of a clearing

corporation in all respects under such

law, including with respect to the effect

of perfection and priority of such

security interest. A Reserve Bank

Operating Circular shall be treated as a

rule adopted by a clearing corporation

for such purposes.

§ 1314.6 Obligations of TVA.

(a) Except in the case of a security

interest in favor of the United States or

a Reserve Bank or otherwise as provided

in § 1314.5(c), for the purposes of this

part 1314, TVA and Reserve Banks shall

treat the Participant to whose securities

account an interest in a Book-entry TVA

Power Security has been credited as the

Person exclusively entitled to issue a

transfer message, to receive interest and

other payments with respect thereof,

and otherwise to exercise all the rights

and powers with respect to such

security, notwithstanding any

information or notice to the contrary.

Neither TVA nor the Reserve Banks are

liable to a Person asserting or having an

adverse claim to a Security Entitlement

or to a Book-entry TVA Power Security

in a Participant’s security account,

including any such claim arising as a

result of the transfer or disposition of a

Book-entry TVA Power Security by a

Reserve Bank pursuant to a transfer

message that the Reserve Bank

reasonably believes to be genuine.

(b) The obligation of TVA to make

payments with respect to Book-entry

TVA Power Securities is discharged at

the time payment in the appropriate

amount is made as follows:

(1) Interest or other payments on

Book-entry TVA Power Securities are

either credited by a Reserve Bank to a

Funds Account maintained at such bank

or otherwise paid as directed by the

Participant.

(2) Book-entry TVA Power Securities

are redeemed in accordance with their

terms by a Reserve Bank withdrawing

the securities from the Participant’s

security account in which they are

maintained and by either crediting the

amount of the redemption proceeds,

including both principal and interest,

where applicable, to a Funds Account at

such bank or otherwise paying such

principal and interest as directed by the

Participant. No action by the Participant

ordinarily is required in connection

with the redemption of a Book-entry

TVA Power Security.

§ 1314.7 Liability of TVA and Reserve

Banks.

TVA and the Reserve Banks may rely

on the information provided in a

transfer message and are not required to

verify the information. TVA and the

Reserve Bank shall not be liable for any

action taken in accordance with the

information set out in a transfer message

or evidence submitted in support

thereof.

§ 1314.8 Identification of accounts.

Book-entry accounts may be

established in such form or forms as

customarily permitted by the entity

(e.g., Depository Institution, Securities

Intermediary, etc.) maintaining them,

except that each account established by

such entity (other than a Reserve Bank)

should include data to permit both

customer identification by name,

address, and taxpayer identifying

number, as well as a determination of

the Book-entry TVA Power Securities

being held in such account by amount,

maturity, date, and CUSIP number, and

of transactions relating thereto.

§ 1314.9 Waiver of regulations.

TVA reserves the right in TVA’s

discretion to waive any provision of the

regulations in this part in any case or

class of cases for the convenience of

TVA or in order to relieve any Person

of unnecessary hardship, if such action

is not inconsistent with law and does

not adversely affect any substantial

existing rights, and TVA is satisfied that

such action will not subject TVA to any

substantial expense or liability.

§ 1314.10 Additional provisions.

(a) Additional requirements. In any

case or any class of cases arising under

the regulations in this part, TVA may

require such additional evidence and a

bond of indemnity, with or without

surety, as may in the judgment of TVA

be necessary for the protection of the

interests of TVA.

(b) Notice of attachment for TVA

Power Securities in Book-entry System.

The interest of a debtor in a Security

Entitlement may be reached by a

creditor only by legal process upon the

Securities Intermediary with whom the

debtor’s securities account is

maintained, except where a Security

Entitlement is maintained in the name

of a secured party, in which case the

debtor’s interest may be reached by legal

process upon the secured party. The
Federal Register / Vol. 62, No. 4 / Tuesday, January 7, 1997 / Rules and Regulations 923

regulations in this part do not purport

to establish whether a Reserve Bank is

required to honor an order or other

notice of attachment in any particular

case or class of cases.

Dated: December 31, 1996.

John L. Dugger,

Assistant General Counsel.

[FR Doc. 97–228 Filed 1–6–97; 8:45 am]

BILLING CODE 8120–01–M

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Food and Drug Administration

21 CFR Part 5

Delegations of Authority and

Organization; Office of the

Commissioner

AGENCY: Food and Drug Administration,

HHS.

ACTION: Final rule.

SUMMARY: The Food and Drug

Administration (FDA) is amending the

delegations of authority regulations that

cover general redelegations of authority

from the Commissioner of Food and

Drugs to other officers of FDA. The

amendment delegates the FDA Deputy

User Fee Waiver Officer authority to

consider and decide requests under

certain circumstances for waivers or

reductions of user fees. Redelegation of

this authority would allow for more

efficient operations.

EFFECTIVE DATE: Janaury 7, 1997.

FOR FURTHER INFORMATION CONTACT:

Suzanne M. O’Shea, Office of the

Chief Mediator and Ombudsman

(HF–7), Food and Drug

Administration, 5600 Fishers Lane,

Rockville, MD 20857, 301–827–

3390, or

Donna G. Page, Division of

Management Systems and Policy

(HFA–340), Food and Drug

Administration, 5600 Fishers Lane,

Rockville, MD 20857, 301–827–

4816.

SUPPLEMENTARY INFORMATION: FDA is

amending the delegations of authority

under § 5.20 General redelegations of

authority from the Commissioner to

other officers of the Food and Drug

Administration (21 CFR 5.20) by

revising § 5.20(h) to add the title of

Deputy User Fee Waiver Officer to those

authorized to perform all of the

functions of the Commissioner under

the Prescription Drug User Fee Act of

1992 (21 U.S.C. 379h(d)), as amended

hereafter, relating to the authority to

waive or reduce user fees. The Chief

Mediator and Ombudsman and the

Deputy Chief Mediator and Ombudsman

currently have this authority. This

action is being taken in order to

redelegate authority to the Deputy User

Fee Waiver Officer, which will provide

a more efficient process for considering

and making decisions on requests for

waivers or reduction of user fees.

Further redelegation of this authority

is not authorized at this time. Authority

delegated to a position by title may be

exercised by a person officially

designated to serve in such position in

an acting capacity or on a temporary

basis.

List of Subjects in 21 CFR Part 5

Authority delegations (Government

agencies), Imports, Organization and

functions (Government agencies).

Therefore, under the Federal Food,

Drug, and Cosmetic Act and under

authority delegated to the Commissioner

of Food and Drugs, 21 CFR part 5 is

amended as follows:

PART 5—DELEGATIONS OF

AUTHORITY AND ORGANIZATION

1. The authority citation for 21 CFR

part 5 is revised to read as follows:

Authority: 5 U.S.C. 504, 552, App. 2; 7

U.S.C. 138a, 2271; 15 U.S.C. 638, 1261–1282,

3701–3711a; secs. 2–12 of the Fair Packaging

and Labeling Act (15 U.S.C. 1451–1461); 21

U.S.C. 41–50, 61–63, 141–149, 467f, 679(b),

801–886, 1031–1309; secs. 201–903 of the

Federal Food, Drug, and Cosmetic Act (21

U.S.C. 321–394); 35 U.S.C. 156; secs. 301,

302, 303, 307, 310, 311, 351, 352, 361, 362,

1701–1706, 2101 of the Public Health Service

Act (42 U.S.C. 241, 242, 242a, 242l, 242n,

243, 262, 263, 264, 265, 300u–300u–5,

300aa–1); 42 U.S.C. 1395y, 3246b, 4332,

4831(a), 10007–10008; E.O. 11490, 11921,

and 12591.

2. Section 5.20 is amended by revising

paragraph (h) to read as follows:

§ 5.20 General redelegations of authority

from the Commissioner to other officers of

the Food and Drug Administration.

* * * * *

(h) The Chief Mediator and

Ombudsman is designated as User Fee

Waiver Officer and is authorized to

perform all of the functions of the

Commissioner under the Prescription

Drug User Fee Act of 1992 (21 U.S.C.

379h(d)), as amended hereafter, relating

to the authority to waive or reduce user

fees. The User Fee Waiver Officer’s

authority may be redelegated to the

Deputy Chief Mediator and Ombudsman

and to the Deputy User Fee Waiver

Officer, without further redelegation.

The Deputy Commissioner for

Operations is designated User Fee

Appeals Officer and is authorized to

hear and decide user fee waiver appeals.

The decision of the User Fee Appeals

Officer will constitute final agency

action on such matters.

* * * * *

Dated: December 31, 1996.

William K. Hubbard,

Associate Commissioner for Policy

Coordination.

[FR Doc. 97–290 Filed 1–6–97; 8:45 am]

BILLING CODE 4160–01–F

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 602

[TD 8708]

RIN 1545–AL98

Computation of Foreign Taxes Deemed

Paid Under Section 902 Pursuant to a

Pooling Mechanism for Undistributed

Earnings and Foreign Taxes

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Final regulations.

SUMMARY: This document contains final

income tax regulations relating to the

computation of foreign taxes deemed

paid under section 902. Changes to the

applicable law were made by the Tax

Reform Act of 1986 and by the

Technical and Miscellaneous Revenue

Act of 1988 (TAMRA). These

regulations provide guidance needed to

comply with these changes and affect

foreign corporations and their United

States corporate shareholders.

DATES: These regulations are effective

January 7, 1997.

Applicability: For the specific dates of

applicability of these regulations, see

§§ 1.902–1(g) and 1.902–3(l).

FOR FURTHER INFORMATION CONTACT:

Caren S. Shein (202) 622–3850 (not a

toll free number).

SUPPLEMENTARY INFORMATION:

Paperwork Reduction Act

The collection of information

contained in these final regulations has

been reviewed and approved by the

Office of Management and Budget in

accordance with the Paperwork

Reduction Act (44 U.S.C. 3507) under

control number 15451458. Responses to

these collections of information are

required by the IRS to implement the

section 902 pooling regime enacted in

the Tax Reform Act of 1986.

An agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless the collection of information

displays a valid control number.