Federal Register / Vol. 62, No. 215 / Thursday, November 6, 1997 / Notices 60115

5Applicants state that the Acquiring Funds in

which First Trust does not hold of record more than

5% of the outstanding shares also are unable to rely

on rule 17a–8 because they are affiliated with the

Acquired Funds for reasons other than those set

forth in the rule. Applicants state that these Funds

are affiliated with the Acquired Funds because they

are affiliated with the Adviser under section

2(a)(3)(E) and, after the Merger (in which U.S. Bank

and the Adviser will be merged), the Adviser will

be an affiliate of the Acquired Funds under section

2(a)(3)(A) by virtue of U.S. Bank’s ownership of

more than 5% of the outstanding shares of certain

of the Acquired Funds.

6Applicants state that the one Acquired Fund

(the U.S. Treasury Money Market Fund) that U.S.

Bank does not hold of record 5% or more of the

outstanding shares also is unable to rely on rule

17a–8 because it is affiliated with the Acquiring

Fund for reasons other than those set forth in rule

17a–8. Applicants state that the Acquired Fund is

affiliated with the Adviser under section 2(a)(3)(E)

and, after the Merger, the Adviser will be an

affiliate of the Acquiring Funds under section

2(a)(3)(C).

Applicants’ Legal Analysis

1. Section 17(a) of the Act generally

prohibits an affiliated person of a

registered investment company, or any

affiliated person of that person, acting as

principal, from selling any security to,

or purchasing any security from the

company. Section 2(a)(3) of the Act

defines an ‘‘affiliated person’’ of another

person to include any person that owns

5% or more of the outstanding voting

securities of the other person, and any

person directly or indirectly controlling,

controlled by, or under common control

with the other person; or, if the other

person is an investment company, any

investment adviser of the investment

company.

2. Rule 17a–8 under the Act exempts

from the prohibitions of section 17(a)

mergers, consolidations, or purchases or

sales of substantially all of the assets of

registered investment companies that

are affiliated persons solely by reason of

having a common investment adviser,

common directors/trustees, and/or

common officers, provided that certain

conditions are satisfied.

3. Applicants believe that they may

not rely upon rule 17a–8 because the

Funds may be affiliated for reasons

other than those set forth in the rule.

First Trust and its affiliates hold of

record more than 5% of the outstanding

shares of certain Acquiring Funds and

hold or share voting power and/or

investment discretion with respect to a

portion of those shares.5 In addition,

U.S. Bank and its affiliates hold of

record more than 5% of the outstanding

shares of certain Acquired Funds and

hold or share voting power and/or

investment discretion with respect to a

portion of those shares.6 Because of

these ownership interests, the Acquiring

Fund may be deemed an affiliated

person of an affiliated person of the

Acquired Fund, and vice versa, for

reasons not based solely on their

common adviser. Consequently,

applicants are requesting an order

pursuant to section 17(b) of the Act

exempting them from section 17(a) to

the extent necessary to consummate the

Reorganization.

4. Section 17(b) of the act provides

that the SEC may exempt a transaction

from the provisions of section 17(a) if

the terms of the proposed transaction,

including the consideration to be paid

or received, are reasonable and fair and

do not involve overreaching on the part

of any person concerned; the proposed

transaction is consistent with the policy

of each registered investment company

concerned; and the proposed

transaction is consistent with the

general purposes of the Act.

5. Applicants submit that the terms of

the Reorganization satisfy the standards

set forth in section 17(b), in that the

terms are fair and reasonable and do not

involve overreaching on the part of any

person concerned. Applicants note that

the First American Boards and the

Trustees, including the disinterested

directors and trustees, found that

participation in the Reorganization is in

the best interests of each Fund and that

the interests of the existing shareholders

of each Fund will not be diluted as a

result of the Reorganization. Applicants

also note that the exchange of the

Acquired Funds’ shares for the

Acquiring Funds’ shares will be based

on the Funds’ relative net asset values.

For the SEC, by the Division of Investment

Management, under delegated authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 97–29354 Filed 11–5–97; 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 and request for

comments.

SUMMARY: In compliance with the

Paperwork Reduction Act of 1995 (44

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

announces that the Information

Collection (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 April 9, 1997, (62 FR

17276–17277).

DATES: Comments must be submitted on

or before December 8, 1997.

FOR FURTHER INFORMATION CONTACT:

Judith Street, ABC–100; Federal

Aviation Administration; 800

Independence Avenue, SW.;

Washington, DC 20591; Telephone

number (202) 267–9895.

SUPPLEMENTARY INFORMATION:

Federal Aviation Administration (FAA)

Title: Representatives of the

Administrator, FAR 183.

OMB control number: 2120–0033.

Type of request: Extension of

currently approved collection.

Affected Public: Individuals seeking

to represent the Administrator in

examining, testing, and certifying

airmen for the purpose of issuing them

airmen certificates.

Abstract: Title 49, U.S.C., Section

44702, authorizes appointment of

properly qualified private persons to be

representatives of the Administrator for

examining, testing, and certifying

airmen for the purpose of issuing them

airmen certificates. The information

collected is used to determine eligibility

of the representatives. This submission

will no longer cover the application for

airmen medical examiners since that

reporting burden now has its own OMB

control number of 2120–0604.

Annual Estimated Burden Hours:

3,114.

Number of Respondents: 7,152.

Addressee: Send comments to the

Office of Information and Regulatory

Affairs, Office of Management and

Budget, 725–17th Street, NW.,

Washington, DC 20503, Attention FAA

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.
60116 Federal Register / Vol. 62, No. 215 / Thursday, November 6, 1997 / Notices

Issued in Washington, DC on October 31,

1997.

Vanester M. Williams,

Clearance Officer, United States Department

of Transportation.

[FR Doc. 97–29318 Filed 11–5–97; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Office of the Secretary

Minority Business Resource Center

Advisory Committee

AGENCY: Office of the Secretary, (DOT).

ACTION: Notice of meeting.

SUMMARY: Pursuant to section 10(a)(2) of

the Federal Advisory Committee Act

(Pub. L. 92–463; 5 U.S.C. App. 1), notice

is hereby given of a meeting of the

Minority Business Resource Center

Advisory Committee to be held

Wednesday, December 10, 1997, from

9:30–11:30 a.m. at the Department of

Transportation, 400 7th Street, SW.,

Conference Room 8236–8240,

Washington, DC 20590. The agenda for

the meeting is as follows:

—Advocacy

—DOT DBE Program (SNPRM)

—Affirmative Action Issues

—Outreach

—Financial Services

Attendance is open to the interested

public but limited to the space

available. With the approval of the

Chairman, members of the public may

present oral statements at the meeting.

Persons wishing to attend and persons

wishing to present oral statements

should notify the Office of Small and

Disadvantaged Business Utilization,

Minority Business Resource Center by

4:00 p.m. on Monday, December 8,

1997. Information pertaining to the

meeting may be obtained from Mrs.

Marie A. Hendricks, Office of Small and

Disadvantaged Business Utilization, 400

7th Street, SW., Washington, DC 20590,

telephone (202) 366–1930 or (800) 532–

1169. Any member of the public may

present a written statement to the

Committee at any time.

Issued in Washington, D.C. on October 31,

1997.

Luz A. Hopewell,

Director, Office of Small and Disadvantaged

Business Utilization.

[FR Doc. 97–29317 Filed 11–5–97; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Technical Standard Orders: Aircraft

Bearings

AGENCY: Federal Aviation

Administration.

ACTION: Notice of availability for public

comment.

SUMMARY: This notice announces the

availability of and requests comments

on a proposed Technical Standard

Order (TSO) pertaining to aircraft

bearings. The proposed TSO prescribes

the regulatory performance standards

that manufacturer-specified parts and

appliances must meet to be identified

with the marking ‘‘TSO–C149.’’

DATES: Comments must identify the

TSO file number and be received on or

before January 5, 1998.

ADDRESSES: Send all comments on the

proposed technical standard order to:

Technical Programs and Continued

Airworthiness Branch, AIR–120,

Aircraft Engineering Division, Aircraft

Certification Service—File No. TSO–

C149, Federal Aviation Administration,

800 Independence Avenue, SW.,

Washington, DC 20591. Or deliver

comments to: Federal Aviation

Administration, Room 815, 800

Independence Avenue, SW.,

Washington, DC 20591.

FOR FURTHER INFORMATION CONTACT:

Ms. Bobbie J. Smith, Technical

Programs and Continued Airworthiness

Branch, AIR–120, Aircraft Engineering

Division, Aircraft Certification Service,

Federal Aviation Administration, 800

Independence Avenue, SW.,

Washington, DC 20591, FAX No. (202)

267–5340.

Comments Invited

Interested persons are invited to

comment on the proposed TSO listed in

this notice by submitting such written

data, views, or arguments as they desire

to the above specified address.

Comments received on the proposed

technical standard order may be

examined, before and after the comment

closing date, in Room 815, FAA

Headquarters Building (FOB–10A), 800

Independence Avenue, SW.,

Washington, DC 20591, weekdays

except Federal holidays, between 8:30

a.m. and 4:30 p.m. All communications

received on or before the closing date

for comments specified above will be

considered by the Director of the

Aircraft Certification Service before

issuing the final TSO.

Background

The FAA established the Aviation

Rulemaking Advisory Committee

(ARAC) in January 1991 to provide an

ongoing mechanism to accept

recommendations from the aviation

industry in the regulatory process (56

FR 2190; January 22, 1991; and 58 FR

9230; February 19, 1993). In March

1993, the FAA established the Parts

Working Group as part of ARAC (58 FR

16572; March 29, 1993). The Parts

Working Group was tasked with

recommending to ARAC new

regulations and guidance material, as

appropriate, pertaining to the issuance

and administration of approvals of

replacement and modification parts for

civil aircraft. The proposed TSO in this

notice is based on a draft proposed TSO

developed by the Parts Working Group

and recommended to the FAA by the

ARAC.

The standards or proposed TSO–C149

apply to aircraft bearings intended for

anti-friction rotation and/or oscillatory

applications in the manufacture and

maintenance of aircraft products.

Proposed TSO–C149 provides

alternative requirements for making

each individual bearing. Each bearing

must be marked with at least the name

or symbol of the manufacturer, the

manufacturer’s part number, and the

TSO number. When this is not practical,

marking may be accomplished in a

manner approved by the Administrator.

Also, in addition to the marking

specified in 14 CFR 607(d), the seal

type, the lubrication date (if applicable),

and the manufacturer’s inspection lot

number shall be marked on each

package and container.

How to Obtain Copies

A copy of the proposed TSO–C149

may be obtained via Internet (http:/

www.faa.gov/avr/air/100home.htm) or

on request from the office listed under

FOR FURTHER INFORMATION CONTACT.

Issued in Washington, DC, on October 27,

1997.

Abbas A. Rizvi,

Acting Manager, Aircraft Engineering

Division, Aircraft Certification Service.

[FR Doc. 97–29351 Filed 11–5–97; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Technical Standard Orders: Aircraft

Seals

AGENCY: Federal Aviation

Administration.