Federal Register / Vol. 62, No. 191 / Thursday, October 2, 1997 / Notices 51711

10 15 U.S.C. § 78k–1(a)(1)(C)(i).

11Reports were required to be submitted by the

Exchange prior to each extension of the pilot

program. In addition, the Exchange submitted a

report prior to its request for permanent approval

of the Lead Market Maker program. The

Commission hereby incorporates by reference the

findings and conclusions contained in the original

approval order and subsequent extension orders for

the Lead Market Maker program. Securities

Exchange Act Release Nos. 27631 (January 17,

1990), 55 FR 2462; 29475 (July 23, 1991), 56 FR

36183; 31063 (August 21, 1992), 57 FR 39255; 92–

36 (December 22, 1992), 57 FR 62414; 33854 (April

1, 1994), 59 FR 16873; 34710 (September 23, 1994),

59 FR 50306; 36293 (September 28, 1995), 60 FR

52242; 37767 (September 30, 1996), 61 FR 52483.

12Securities Exchange Act Release No. 37767

(September 30, 1996), 61 FR 52483.

13 15 U.S.C. § 78f(b)(5), 15 U.S.C. § 78s(b)(2).

14 15 U.S.C. § 78s(b)(2).

15 17 CFR 200.30–3(a)(12).

facilitate transactions in securities, to

promote just and equitable principles of

trade, and to protect investors and the

public interest. In addition, the

Commission finds that the proposed

rule change is consistent with Section

11A(a)(1)(C)(i) of the Act 10 in that the

LMM pilot program contributes to the

Exchange’s maintenance of a fair and

orderly market and assures economic

and efficient execution of securities

transactions. The Commission notes that

since 1990, when PCX began operating

the LMM pilot program, PCX has made

a number of refinements to the program

over this period and has submitted

numerous reports to the SEC covering

the operation of the program. During

this period, the use of the LMM program

has grown significantly, yet there have

been only several minor complaints and

rule infractions reported.11

The Commission finds good cause for

approving the proposed rule change

prior to the thirtieth after the date of

publication of notice of filing thereof in

the Federal Register in order to permit

the uninterrupted continuation of the

LMM program. As set forth in its most

recent report to the Commission, the

PCX has represented that it has not

received significant complaints

regarding the operation of the pilot

program nor have problems arisen in

connection with operation of the pilot

program. Moreover, the current pilot

program was subject to a full comment

period last year 12 and no comments

were received. Accordingly, the

Commission believes it is consistent

with Sections 6(b)(5) and 19(b)(2) of the

Act 13 to approve the proposed rule

change on an accelerated basis.

IV. 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, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the PCX. All submissions

should refer to File No. SR–PCX–97–33

and should be submitted by October 23,

1997.

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act,14 that the

proposed rule change (SR–PCX–97–33)

is hereby approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.15

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–26147 Filed 10–1–97; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Office of the Secretary

Reports, Forms and Recordkeeping

Requirements Agency Information

Collection Activity Under OMB Review

AGENCY: Office of the Secretary, DOT.

ACTION: Notice.

SUMMARY: In compliance with the

Paperwork Reduction Act of 1995 (44

U.S.C. Chapter 3501 et seq.), this notice

announces that the Information

Collection Request (ICR) abstracted

below has been forwarded to the Office

of Management and Budget (OMB) for

review and comment. The ICR describes

the nature of the information collection

and its expected burden. The Federal

Register Notice with a 60-day comment

period soliciting comments on the

following collection of information was

published on July 18, 1997 [62 FR,

38605–38606].

DATES: Comments must be submitted on

or before November 3, 1997.

FOR FURTHER INFORMATION CONTACT: Mr.

Richard Weaver, Information Collection

Clearance Officer, Maritime

Administration, MAR–318, Room 7301,

400 Seventh Street, SW., Washington,

DC 20590. Telephone 202–366–5755 or

fax 202–366–3889. Copies of this

collection can also be obtained from that

office.

SUPPLEMENTARY INFORMATION:

Maritime Administration (MARAD)

Title: Request for Transfer of

Ownership, Registry, and Flag, or

Charter, Lease, or Mortgage of U.S.

Citizen Owned Documented Vessels.

Type of Request: Extension of a

currently approved collection.

OMB Control Number: 2133–0006.

Affected Public: Respondents are

vessel owners who have applied for

foreign transfer of U.S.-flag vessels.

Abstract: MARAD is required to

approve the sale, transfer, charter, lease,

or mortgage of U.S. documented vessels

to non-citizens, or the transfer of such

vessels to foreign registry and flag, or

the transfer of foreign flag vessels by

their owners as required by various

contractual requirements. These

provisions are implemented by 46 CFR

part 221.

Need: This information collection

requires a vessel owner to submit an

application for a prospective foreign

transfer of a U.S.-flag vessel. This

information will assist in the

determination of whether the vessel

proposed for transfer will initially

require retention under the U.S.-flag

statutory regulation. In such instances,

the application is reviewed and cleared

for approval by specialists within

MARAD, Department of Commerce, and

Department of Defense.

Estimated Annual Burden Hours: 440

hours.

Annual Responses: 220.

Send comments to the Office of

Information and Regulatory Affairs,

Office of Management and Budget, 725–

17th Street, NW., Washington, DC

20503, Attention MARAD Desk Officer.

Comments are invited on: whether the

proposed collection of information is

necessary for the proper performance of

the functions of the Department,

including whether the information will

have practical utility; the accuracy of

the Department’s estimate of the burden

of the proposed information collection;

ways to enhance the quality, utility and

clarity of the information to be

collected; and ways to minimize the

burden of the collection of information

on respondents, including the use of

automated collection techniques or

other forms of information technology.
51712 Federal Register / Vol. 62, No. 191 / Thursday, October 2, 1997 / Notices

Issued in Washington, DC, on September

26, 1997.

Vanester M. Williams,

Clearance Officer, United States Department

of Transportation

[FR Doc. 97–26155 Filed 10–1–97; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Approval of Noise Compatibility

Program Fort Smith Regional Airport,

Fort Smith, AR

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Notice.

SUMMARY: The Federal Aviation

Administration (FAA) announces its

findings on the noise compatibility

program submitted by Fort Smith

Airport Commission under the

provisions of Title 49 U.S.C., Chapter

475 and CFR part 150. These findings

are made in recognition of the

description and nonfederal

responsibilities in Senate Report No.

96–52 (1980). On March 13, 1997, the

FAA determined that the noise exposure

maps submitted by the Fort Smith

Airport Commission, under Part 150,

were in compliance with the applicable

requirements. On September 9, 1997,

the Administrator approved the noise

compatibility program. Nine of the

thirteen recommendations of the

program were approved.

EFFECTIVE DATES: The effective date of

the FAA’s approval of the Fort Smith

Regional Airport noise compatibility

program is September 9, 1997.

FOR FURTHER INFORMATION CONTACT: For

further information contact Mr. Tim

Tandy, Department of Transportation,

Federal Aviation Administration, 2601

Meacham Boulevard, Fort Worth, Texas,

76137, (817) 222–5635. Documents

reflecting this FAA action may be

reviewed at this same location.

SUPPLEMENTARY INFORMATION: This

notice announces that the FAA has

given its overall approval to the noise

compatibility program for Fort Smith

Regional Airport, effective September 9,

1997.

Under Title 49 USC, Section 47504

(hereinafter referred to as ‘‘Title 49‘‘) an

airport operator who has previously

submitted a noise exposure map may

submit to the FAA a noise compatibility

program which sets forth the measures

taken or proposed by the airport

operator for the reduction of existing

noncompatible land uses within the

area covered by the noise exposure

maps. Title 49 requires such programs

to be developed in consultation with

interested and affected parties including

local communities, government

agencies, airport users, and FAA

personnel.

Each airport noise compatibility

program developed in accordance with

Federal Aviation Regulations (FAR) part

150 is a local program, not a Federal

program. The FAA does not substitute

its judgment for that of the airport

proprietor with respect to which

measures should be recommended for

action. The FAA’s approval or

disapproval of FAR part 150 program

recommendations is measured

according to the standards expressed in

part 150 and Title 49 and is limited to

the following determinations:

a. The noise compatibility program

was developed in accordance with the

provisions and procedures of FAR part

150;

b. Program measures are reasonably

consistent with achieving the goals of

reducing existing noncompatible land

uses around the airport and preventing

the introduction of additional

noncompatible land uses;

c. Program measures would not create

an undue burden on interstate or foreign

commerce, unjustly discriminate against

types of classes of aeronautical uses,

violate the terms of airport grant

agreements, or intrude into areas

preempted by the Federal Government;

and

d. Program measures relating to the

use of flight procedures can be

implemented within the period covered

by the program without derogating

safety, adversely affecting the efficient

use and management of the navigable

airspace and air traffic control systems,

or adversely affecting other powers and

responsibilities of the Administrator

prescribed by law.

Specific limitations with respect to

FAA’s approval of an airport noise

compatibility program are delineated in

FAR part 150, section 150.5 Approval is

not a determination concerning the

acceptability of land uses under Federal,

state, or local law. Approval does not by

itself constitute on FAA implementing

action. A request for Federal action or

approval to implement specific noise

compatibility measure may be required,

and an FAA decision on the request

may require an environmental

assessment of the proposed action.

Approval does not constitute a

commitment by the FAA to financially

assist in the implementation of the

program nor a determination that all

measures covered by the program are

eligible for grant-in-aid funding from the

FAA. Where Federal funding is sought,

requests for project grants mut be

submitted to the FAA Arkansas/

Louisiana Airports Development Office

in Fort Worth, Texas.

Fort Smith Airport Commission

submitted to the FAA on August 9,

1996, the noise exposure maps,

descriptions, and other documentation

produced during the noise compatibility

planning study conducted from July 15,

1994 through February 14, 1997. The

Fort Smith Regional Airport noise

exposure maps were determined by

FAA to be in compliance with

applicable requirements on March 12,

1997. Notice of this determination was

published in the Federal Register on

March 28, 1997.

The Fort Smith Regional Airport FAR

part 150 Study contains a proposed

noise compatibility program comprised

of actions designed for phased

implementation by airport management

and adjacent jurisdictions from the date

of study completion to (or beyond) the

year 2000. It was requested that the FAA

evaluate and approve this material as a

noise compatibility program as

described in Title 49. The FAA began its

review of the program on March 13,

1997 and was required by a provision of

the Act to approve or disapprove the

program within 180 days (other than the

use of new flight procedures for noise

control). Failure to approve or

disapprove such program within the

180-day period shall be deemed to be an

approval of such program.

The submitted program contained

thirteen proposed actions for noise

mitigation on and off the airport. The

FAA completed its review and

determined that the procedural and

substantive requirements of Title 49 and

FAR part 150 have been satisfied. The

overall program, therefore, was

approved by the Administrator effective

September 9, 1997.

Outright approval was granted for

nine of the specific program elements.

The following four program elements

were disapproved pending submittal of

additional information. Element 1

recommended that high performance

aircraft, including military jet fighter

and trainers, be restricted to straight-out

takeoffs from Runways 07 and 25 until

reaching 3,000 feet mean sea level, or

approximately 3 nautical miles from the

runway end. Element 2 recommended

that pilots of commercial and business

jets be requested to fly noise abatement

procedures published in FAA Advisory

Circular 91–53A or procedures

published by the National Business

Aircraft Association. Element 3

recommended the development of

procedures whereby military aircraft

capable of performing afterburner