Federal Register / Vol. 62, No. 24 / Wednesday, February 5, 1997 / Notices 5497

[FR Doc. 97–2786 Filed 2–4–97; 8:45 am]

BILLING CODE 7710–FW–P

[Docket No. A97–10]

Hertel, Wisconsin 54845 (Thomas M.

Mrozik, Petitioner); Notice and Order

Accepting Appeal and Establishing

Procedural Schedule Under 39 U.S.C.

404(b)(5)

January 30, 1997.

Before Commissioners: Edward J.

Gleiman, Chairman; H. Edward Quick,

Jr., Vice-Chairman; George W. Haley;

W.H. ‘‘Trey’’ LeBlanc III.

Docket Number: A97–10.

Name of Affected Post Office: Hertel,

Wisconsin 54845.

Name(s) of Petitioner(s): Thomas M.

Mrozik.

Type of Determination: Consolidation.

Date of Filing of Appeal Papers:

January 28, 1997.

Categories of Issues Apparently

Raised:

1. Effect on the community [39 U.S.C.

§ 404(b)(2)(A)].

2. Effect on postal services [39 U.S.C.

§ 404(b)(2)(C)].

After the Postal Service files the

administrative record and the

Commission reviews it, the Commission

may find that there are more legal issues

than those set forth above. Or, the

Commission may find that the Postal

Service’s determination disposes of one

or more of those issues.

The Postal Reorganization Act

requires that the Commission issue its

decision within 120 days from the date

this appeal was filed (39 U.S.C. § 404

(b)(5)). In the interest of expedition, in

light of the 120-day decision schedule,

the Commission may request the Postal

Service to submit memoranda of law on

any appropriate issue. If requested, such

memoranda will be due 20 days from

the issuance of the request and the

Postal Service shall serve a copy of its

memoranda on the petitioners. The

Postal Service may incorporate by

reference in its briefs or motions, any

arguments presented in memoranda it

previously filed in this docket. If

necessary, the Commission also may ask

petitioners or the Postal Service for

more information.

The Commission Orders

(a) The Postal Service shall file the

record in this appeal by February 12,

1997.

(b) The Secretary of the Postal Rate

Commission shall publish this Notice

and Order and Procedural Schedule in

the Federal Register.

By the Commission.

Margaret P. Crenshaw,

Secretary.

APPENDIX

January 28, 1997 ................ Filing of Appeal letter.

January 30, 1997 ................ Commission Notice and Order of Filing of Appeal.

February 21, 1997 ............... Last day of filing of petitions to intervene [see 39 CFR § 3001.111(b)].

March 4, 1997 ..................... Petitioner’s Participant Statement or Initial Brief [see 39 CFR § 3001.115(a) and (b)].

March 24, 1997 ................... Postal Service’s Answering Brief [see 39 CFR § 3001.115(c)].

April 8, 1997 ........................ Petitioner’s Reply Brief should Petitioner choose to file one [see 39 CFR § 3001.115(d)].

April 15, 1997 ...................... Deadline for motions by any party requesting oral argument. The Commission will schedule oral argument only

when it is a necessary addition to the written filings [see 39 CFR § 3001.116].

May 28, 1997 ...................... Expiration of the Commission’s 120-day decisional schedule [see 39 U.S.C. § 404(b)(5)].

[FR Doc. 97–2787 Filed 2–4–97; 8:45 am]

BILLING CODE 7710–FW–P

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–22483; File No. 812–10484]

Anchor Pathway Fund, et al.

January 29, 1997.

AGENCY: Securities and Exchange

Commission (the ‘‘SEC’’ or the

‘‘Commission’’).

ACTION: Notice of application for

exemptions under the Investment

Company Act of 1940 (the ‘‘1940 Act’’).

APPLICANTS: Anchor Pathway Fund

(‘‘APT’’) and SunAmerica Series Trust

(‘‘SST’’).

RELEVANT 1940 ACT SECTIONS: Order

requested pursuant to Section 10(e)(3) of

the 1940 Act suspending the operation

of Section 10(a) of the 1940 Act.

SUMMARY OF APPLICATION: Applicants

seeks an order, pursuant to Section

10(e)(3) of the 1940 Act, extending the

sixty-day period provided for by Section

10(e)(2) of the 1940 Act to March 21,

1997, in order to provide time for the

identification, nomination and election

of additional trustees. Applicants

further request that the order grant

retroactive relief for the period from

January 21, 1997, the expiration date of

the initial sixty-day period, to the date

on which the order is issued.

FILING DATE: The application was filed

on January 9, 1997.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the Commission orders a

hearing. Interested persons may request

a hearing on this application by writing

to the Secretary of the SEC and serving.

Applicants with a copy of the request,

in person or by mail. Hearing requests

must be received by the Commission by

5:30 p.m., on February 24, 1997, and

accompanied by proof of service on the

Applicants in the form of an affidavit or,

for lawyers, a certificate of service.

Hearing requests should state the nature

of the requester’s interest, the reason for

the request and the issues contested.

Persons may request notification of the

date of a hearing by writing to the

Secretary of the SEC.

ADDRESSES: Secretary, SEC. 450 Fifth

Street, N.W., Washington, D.C. 20549.

Applicants, c/o Joan E. Boros, Esq.,

Katten, Muchin & Zavis, 1025 Thomas

Jefferson Street, N.W., East Lobby, Suite

700, Washington, D.C. 20007–5201, or

Robert M. Zakem, Esq., SunAmerica

Asset Management Corp., The SunAmerica Center, 733 Third Avenue,

New York, NY 10017–3204.

FOR FURTHER INFORMATION CONTACT:

Megan L. Dunphy, Staff Attorney, or

Patrice M. Pitts, Branch Chief, Office of

Insurance Products, Division of

Investment Management, at (202) 942–

0670.

SUPPLEMENTARY INFORMATION: Following

is a summary of the application. The

complete application is available for a

fee from the Public Reference Branch of

the SEC.

Applicant’s Representations

1. APT and SST (collectively, the

‘‘Trusts’’) each are open-end, series type

management investment companies

organized as Massachusetts business

trusts. APT and SST are registered

under the 1940 Act, and their shares are

registered under the Securities Act of

1933, as amended.

2. The Boards of Trustees of APT and

SST (collectively, the ‘‘Boards’’) are

identical in composition. Before
5498 Federal Register / Vol. 62, No. 24 / Wednesday, February 5, 1997 / Notices

November 23, 1996, each Board had five

members, two of whom were not

‘‘interested persons’’ as that term is

defined by Section 2(a)(19) of the 1940

Act. One of the disinterested Trustees

died on November 23, 1996, reducing

each Board to four members, only one

of whom is not an interested person.

The remaining disinterested Trustee

expressed his intention to resign

effective February 1, 1997. Following

the resignation, each Board will be

reduced to three members, all of whom

will be interested persons.

3. The Boards are seeking diligently to

identify replacements for the two

disinterested Trustees. The remaining

Trustees must approve the nomination

of suitable candidates. Shareholders of

the Trusts and owners of the Contracts

also must approve the new nomination

of the new Trustees.

4. No actions will be taken by the

Boards that require a vote of

disinterested Trustees until after the

Boards have been fully constituted and

shareholders have elected the nominees.

Nor have any such actions been taken

since November 23, 1996.

Applicants’ Legal Analysis

1. Applicants request that the

Commission issue an order pursuant to

Section 10(e)(3) of the 1940 Act

extending the sixty day period provided

for by Section 10(e)(2) of the 1940 Act

to March 21, 1997. Applicants further

request that the order grant retroactive

relief for the period from January 21,

1997, the expiration date of the initial

sixty day period, to the date on which

the order is issued.

2. Section 10(a) of the 1940 Act

provides, among other things, that no

registered investment company shall

have a board of directors more than 60

percent of whose members are persons

or officers or employees of such

registered company. Section 10(e) of the

Act sets forth time limitations for filing

vacancies created by reason of the

death, disqualification or bona fide

resignation of any director(s). Section

10(e)(2) further provides that the

operation of Section 10(a) shall be

suspended for a period of sixty days if

a vote of shareholders is required to fill

the vacancy(ies). Section 10(e)(3)

authorizes the Commission, by order

upon application, to prescribe a longer

period as not inconsistent with the

protection of investors.

3. Section 16(a) of the 1940 Act

requires, in pertinent part, that

immediately after filling a vacancy on a

board of directors, at least two-thirds of

the directors shall have been elected to

such office by the shareholders of the

registered investment company.

Applicants must submit the election of

the Boards to the shareholders of the

Trusts to comply with Section 16(a).

4. Applicants assert that the Boards

have not yet identified appropriate

candidates to fill the two vacancies

which must be filled by Trustees who

are not interested persons of the Trusts.

Applicants represent that their efforts

have been pursued with diligence, but

to date have not resulted in the selection

of appropriate nominees.

5. Applicants represent that once they

have identified, interviewed and cleared

potential nominees, their nomination

will be considered at the meetings of the

Boards scheduled for February 25, 1997.

At those meetings, Applicants anticipate

that the Boards will authorize the

preparation and filing with the

Commission of proxy materials relating

to the election of the Boards and other

significant matters that require

shareholders approval.

6. Applicants assert that it is in the

best interests of the separate accounts

investing in the Applicants and the

owners of variable annuity contracts

funded through those separate accounts

to take the necessary time to identify

qualified and competent disinterested

Trustees. Applicants represent that

efforts have been undertaken and are

continuing to obtain two disinterested

Trustees, but that is now appears that

the vacancies will not be filled until

March 21, 1997.

7. Applicants represent that

retroactive relief is necessary because

they were not immediately notified of

the death of one distinterested Trustee,

and that sixty days is not sufficient time

to prepare and file with the

Commission, and for the Commission to

consider, issue a notice and grant an

order upon, an application for

exemptive relief.

Conclusion

For the reasons stated above,

Applicants assert that their requests for

relief are consistent with the protection

of investors.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–2781 Filed 2–4–97; 8:45 am]

BILLING CODE 8010–01–M

[Release No. IC–22485; File No. 812–10286]

The Mutual Life Insurance Company of

New York, et al.

January 29, 1997.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’).

ACTION: Notice of Application for

Exemption under the Investment

Company Act of 1940 (‘‘1940 Act’’).

APPLICANTS: The Mutual Life Insurance

Company of New York (‘‘MONY’’),

MONY Life Insurance Company of

America (‘‘MONY America,’’ and

collectively with MONY, ‘‘the

Companies’’) and MONY America

Variable Account A (‘‘MONY America

Account,’’ and collectively with the

MONY Account, ‘‘the Accounts’’).

RELEVANT 1940 ACT SECTIONS: Order

requested pursuant to Section 26(b) of

the 1940 Act approving a proposed

substitution of securities and pursuant

to Section 17(b) of the 1940 Act granting

exemptions from the provisions of

Sections 17(a)(1) and 17(a)(2) of the

1940 Act.

SUMMARY OF APPLICATION: Applicants

seek an order approving the substitution

of shares of the U.S. Government Series

(‘‘U.S. Government Portfolio’’) of OCC

Accumulation Trust (‘‘Trust’’) for shares

of the Bond Series (‘‘Bond Portfolio’’) of

the Trust. Applicants also seek an

exemption from Section 17(a)(1) and

17(a)(2) of the 1940 Act to the extent

necessary to permit Applicants to carry

out the above referenced substitution in

part by redeeming shares of the Bond

Portfolio in-kind and using the

redemption proceeds to purchase shares

of the U.S. Government Portfolio.

FILING DATE: The application was filed

on August 7, 1996.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the Commission orders a

hearing. Interested persons may request

a hearing by writing to the Secretary of

the SEC and serving the applicants with

a copy of the request, personally or by

mail. Hearing requests must be received

by the Commission by 5:30 p.m., on

February 24, 1997, and should be

accompanied by proof of service on

Applicants in the form of an affidavit or,

for lawyers, a certificate of service.

Hearing requests should state the nature

of the writer’s interest, the reason for the

request, and the issues contested. Any

person may request notification of a

hearing by writing to the Secretary of

the SEC.

ADDRESSES: Secretary, SEC, 450 Fifth

Street, N.W., Washington, D.C. 20549.

Applicants, c/o Frederick C. Tedeshi,