Federal Register / Vol. 62, No. 200 / Friday, October 17, 1997 / Notices 54149

13 15 U.S.C. § 78s(b)(2).

14 17 CFR 200.30–3(a)(12).

Moreover, the Commission believes

that the proposal should have a limited

impact on the timeliness of order

executions on the Phlx. In this regard,

the Commission notes that under the

proposal a specialist will maintain the

ability to execute manually an order

residing on POES prior to the expiration

of the POES window. Accordingly, if

the specialist determines that price

improvement is unlikely to occur, the

specialist may execute the order at the

Stop Price prior to the end of the 30

second period. In addition, the effect of

the proposal on the overall timeliness of

Phlx executions is further limited by the

fact that the POES window only is

applicable to certain market orders and

then only in 1⁄8 point markets or greater.

Finally, the Commission believes that

the competition between Phlx

specialists and other markets for order

flow should provide a continuing

incentive for specialists to execute

customer orders promptly, thereby

serving to further alleviate any potential

adverse impact that the proposal may

have on the provision of timely

executions of customer orders.

IV. Conclusion

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act,13 that the

proposed rule change (SR–Phlx–97–32)

is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.14

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–27544 Filed 10–16–97; 8:45 am]

BILLING CODE 8010–01–M

STATE DEPARTMENT

[Public Notice No. 2615]

Overseas Security Advisory Council

(OSAC) Meeting Notice; Closed

Meeting

The Department of State announces a

meeting of the U.S. State Department—

Overseas Security Advisory Council on

November 4, 5, and 6, at the U.S.

Department of State, Washington, D.C.

Pursuant to Section 10(d) of the Federal

Advisory Committee Act and 5 U.S.C.

552b(c) (1) and (4), it has been

determined the meeting will be closed

to the public. Matters relative to

classified national security information

as well as privileged commercial

information will be discussed. The

agenda calls for the discussion of

classified and corporate proprietary/

security information as well as private

sector physical and procedural security

policies and protective programs at

sensitive U.S. Government and private

sector locations overseas.

For more information contact Nick

Proctor, Overseas Security Advisory

Council, Department of State,

Washington, D. C. 20522–1003, phone:

202–663–0869.

Dated: September 26, 1997.

Gregorie W. Bujac,

Director of the Diplomatic Security Service.

[FR Doc. 97–27538 Filed 10–15–97; 8:45 am]

BILLING CODE 4710–24–M

DEPARTMENT OF TRANSPORTATION

Office of the Secretary

Reports, Forms and Record Keeping

Requirements; Agency Information

Collection Activity Under OMB Review

AGENCY: Office of the Secretary, DOT.

ACTION: Notice.

SUMMARY: In compliance with the

Paperwork Reduction Act 1995 (44

U.S.C. Chapter 35), 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 October 29,1996 (61 FR

55835–55836) and a Notice of Final

Determination was published on June

10, 1997 (62 FR 31655–31661).

DATES: Comments must be submitted on

or before November 17, 1997.

FOR FURTHER INFORMATION CONTACT:

For information about the submission to

OMB, Form OMB 83–I, including

supporting statements for this collection

contact the US DOT Dockets, Room PL

401, Department of Transportation, 400

Seventh Street, SW., Washington, DC

20590, 1–800–647–5527. For Technical

issues in the submission: Mr. Robert F.

Schultz, Jr., Office of Motor Carrier

Research and Standards, (202) 366–

2718, Federal Highway Administration,

Department of Transportation, 400

Seventh Street, SW., Washington, DC

20590. Office hours are from 7:45 a.m.

to 4:15 p.m., E.T., Monday through

Friday, except Federal holidays.

SUPPLEMENTARY INFORMATION:

Federal Highway Administration

(FHWA)

Title: Motor Carrier Regulatory Relief

and Safety Demonstration Project.

OMB Number: 2125–0575.

Type of Request: Reinstatement,

without change, of a previously

approved collection for which approval

has expired.

Affected Public: Motor Carriers

operating commercial motor vehicles

with a gross vehicle weight rating

between 10,001 and 26,000 pounds in

interstate commerce.

Abstract: The National Highway

System Designation Act of 1995

(Payable–59, 109 Stat. 568) was signed

by the President on November 28, 1995.

Section 344 of the Act requires FHWA

to implement a pilot program under

which motor carriers operating

commercial motor vehicles (CMS) with

a gross vehicle weight rating between

10,001 and 26,000 pounds in interstate

commerce may qualify for exemption

from certain Federal Motor Carrier

Safety Regulations (FMCSRS) (49 CFR

part 325 et seq.). The Act directs the

FHWA to establish criteria for

admission to the pilot, and to monitor

the performance of those participating

in the pilot. Section 344 also states that

‘‘[the Secretary] shall complete the

review [of the pilot program] by the last

day of the 3-year period beginning on

the date of the enactment of this

paragraph [November 28, 1995]. [On

November 28, 1998] the Secretary shall,

after notice and an opportunity for

public comment, grant such exemptions

or modify or repeal existing regulations

to the extent appropriate.’’ By this

language, Congress has directed the

FHWA in explicit terms. The agency is

bound not to just conduct and evaluate

the pilot, but to grant exemptions, and

modify or repeal regulations,

immediately upon its conclusion, save

only the time necessary to solicit public

comment. On August 28, 1996, the

agency published a notice for this

collection, providing a proposed plan

for this Project, soliciting public

comment on the proposed Project, and

referring to the agency’s intent to

request emergency processing. On

October 29, 1996, the FHWA published

a Supplemental Notice seeking public

comment on the specific issue of

whether the rules of the Project would

preempt conflicting laws of the States.

In February 1997, OMB granted

emergency approval to the collection

requirements of this Project until

August 31, 1997. On June 10, 1997 the

agency published a Notice of Final

Determination on the Project, providing