Federal Register / Vol. 62, No. 214 / Wednesday, November 5, 1997 / Notices 59927

Facility Operating License No. NPF–2:

Amendment revises the Technical

Specifications.

Date of initial notice in Federal

Register: September 10, 1997 (62 FR

47695).

The Commission’s related evaluation

of the amendment is contained in a

Safety Evaluation dated October 23,

1997.

No significant hazards consideration

comments received: No

Local Public Document Room

location: Houston-Love Memorial

Library, 212 W. Burdeshaw Street, Post

Office Box 1369, Dothan, AL.

Tennessee Valley Authority, Docket No.

50–390 Watts Bar Nuclear Plant, Unit 1,

Rhea County, TN

Date of application for amendment:

June 20, 1997.

Brief description of amendment:

Modify the Watts Bar Technical

Specifications (TS) to incorporate the

use of Code Case N–514 into the

methodology for the PressureTemperature Limits Report.

Date of issuance: October 21, 1997.

Effective date: October 21, 1997.

Amendment No.: 9.

Facility Operating License No. NPF–

90: Amendment revises the TS.

Date of initial notice in Federal

Register: September 10, 1997 (62 FR

47700).

The Commission’s related evaluation

of the amendment is contained in a

Safety Evaluation dated October 21,

1997.

No significant hazards consideration

comments received: None

Local Public Document Room

location: Chattanooga-Hamilton County

Library, 1001 Broad Street, Chattanooga,

TN 37402.

Wolf Creek Nuclear Operating

Corporation, Docket No. 50–482, Wolf

Creek Generating Station, Coffey

County, KS

Date of amendment request: July 3,

1997, as supplemented by letter dated

August 20, 1997.

Brief description of amendment: The

amendment revises Surveillance

Requirements 4.3.1.2 and 4.3.2.2, and

Technical Specifications 3/4.3.1 and 3/

4.3.2, and associated Bases Sections B 3/

4.3.1 and B 3/4.3.2 to eliminate periodic

response time testing requirements for

selected pressure and differential

pressure sensors in the reactor trip

system and engineered safety features

actuation system instrumentation

channels.

Date of issuance: October 20, 1997.

Effective date: October 20, 1997, to be

implemented prior to restart from the

ninth refueling outage currently

scheduled to start on October 4, 1997.

Amendment No.: 113.

Facility Operating License No. NPF–

42: The amendment revised the

Technical Specifications.

Date of initial notice in Federal

Register: July 30, 1997 (62 FR 40862).

The August 20, 1997, supplemental

letter provided additional clarifying

information and did not change the

initial no significant hazards

consideration determination. The

Commission’s related evaluation of the

amendment is contained in a Safety

Evaluation dated October 20, 1997.

No significant hazards consideration

comments received: No.

Local Public Document Room

locations: Emporia State University,

William Allen White Library, 1200

Commercial Street, Emporia, KS 66801

and Washburn University School of Law

Library, Topeka, KS 66621.

Dated at Rockville, Maryland, this 29th day

of October 1997.

For the Nuclear Regulatory Commission.

Elinor G. Adensam,

Acting Director, Division of Reactor Projects—

III/IV, Office of Nuclear Reactor Regulation.

[FR Doc. 97–29138 Filed 11–4–97; 8:45 am]

BILLING CODE 7590–01–P

THE PRESIDENT’S COUNCIL ON

SUSTAINABLE DEVELOPMENT

The Eighteenth Meeting of the

President’s Council on Sustainable

Development (PCSD) in Atlanta,

Georgia

Summary: The President’s Council on

Sustainable Development (PCSD), a

Presidential Commission with

representation from industry,

government, environmental, and Native

American organizations, will convene

its eighteenth meeting in Atlanta,

Georgia on Thursday, November 20,

1997.

Under its current charter, the

Administration asked the Council to

continue its work by continuing to forge

consensus on policy, demonstrating

implementation, getting the word out

about sustainable development, and

evaluating progress. The Council will

advise the President in four specific

areas: domestic implementation of

policy options to reduce greenhouse gas

emissions, next steps in building the

new environmental management system

of the 21st century, promoting multijurisdictional and community

cooperation in metropolitan and rural

areas, and policies that fosters the

United States’ leadership role in

sustainable development

internationally.

At the Council’s last meeting in Tulsa,

Oklahoma on September 22, 1997,

members were briefed on the science

impacts, technology impacts, and

economics related to climate change.

The Council also heard from Tulsa’s

community about ways in which the

climate change issue affects their lives.

At this next meeting, the Council will

receive input from a community forum

on climate change, focus on technology

options to reduce greenhouse gas

emissions and hear from a series of

experts in the field. Specifically, the

discussion will address the following

agenda items:

• Current sources of greenhouse gas

emissions; and

• Technology opportunities in a

variety of sectors within the United

States economy to reduce greenhouse

gas emissions.

Public comment period: The Council

will seek public comment on potential

Council activities to implement the

Administration’s directive.

Specifically, the Council is interested

in hearing from the public on the

following questions:

• How might climate change affect

the quality of life in the Atlanta region?

• Are there local opportunities in

Atlanta, Georgia and surrounding

regions to reduce greenhouse gas

emissions?

• What policy recommendations

should the Council give to President

Clinton to more quickly develop and

deploy energy efficient technologies?

The Council’s previous

recommendations to the President may

be found in two reports: Sustainable

America: A New Consensus for

Prosperity, Opportunity, and a Healthy

Environment for the Future (March

1996) and Building on Consensus: A

Progress Report on Sustainable America

(January 1997). Copies of both reports

can be ordered by calling 1–800–363–

3732 or downloaded off the Internet at

‘‘http://www.whitehouse.gov/PCSD’’.

Dates/Times: Thursday, November 20,

1997 from 9:00 a.m. to 1:00 p.m.

Place: Georgia Public Broadcasting

Building, 206 14th Street in the main

floor television studio, Atlanta, Georgia,

30318. PH: 404–685–2253; FAX: 404–

756–2417.

Status: Open to the public. Public

comments are welcome and may be

submitted orally on November 20 or in

writing any time prior to or during the

meeting. Please submit written

comments prior to meeting to: PCSD,

Public Comments, 730 Jackson Place,

NW, Washington, D.C. 20503, or fax to:
59928 Federal Register / Vol. 62, No. 214 / Wednesday, November 5, 1997 / Notices

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b–4.

3 In Amendment No. 1, the NASD amended Rule

2710(b)(7)(F)(i) to replace the phrase ‘‘listed on the

Nasdaq National Market, the New York Stock

Exchange, or American Stock Exchange’’ with

‘‘designated as a Nasdaq National Market security

or listed on the New York Stock Exchange or

American Stock Exchange.’’ Letter from Suzanne E.

Rothwell, Chief Counsel, Corporate Financing,

NASD Regulation, to Kathy England, Assistant

Director, Division of Market Regulation, SEC (June

18, 1997).

4 17 CFR 240.13e–3.

5See Notice to Members 95–73 (September 1995)

(‘‘NTM 95–73’’). A copy of NTM 95–73 was

submitted as Exhibit 2 to the NASD’s proposal and

is available for inspection and copying in the

Commission’s Public Reference Room.

202/408–6839, E-mail:

‘‘infopcsd@aol.com’’.

Contact: Paul Flaim, Administrative

Assistant, at 202/408–5296.

Sign Language Interpreter: Please call

the contact if you will need a sign

language interpreter.

Martin A. Spitzer,

Executive Director, President’s Council on

Sustainable Development.

[FR Doc. 97–29288 Filed 11–4–97; 8:45 am]

BILLING CODE 3125–01–P

SECURITIES AND EXCHANGE

COMMISSION

[File No. 500–1]

Orlando Super Card, Inc.; Order of

Suspension of Trading

November 3, 1997.

It appears to the Securities and

Exchange Commission that there is a

lack of current and accurate information

concerning the securities of Orlando

Super Card, Inc. (‘‘Orlando Super

Card’’) because of questions regarding

(1) the trading and true value of the

common stock of Orlando Super Card;

and (2) the accuracy and adequacy of

publicly disseminated information

concerning Orlando Super Card’s

financial prospects.

The Commission is of the opinion that

the public interest and the protection of

investors require a suspension of trading

in the securities of the above-listed

company.

Therefore, it is ordered, pursuant to

Section 12(k) of the Securities Exchange

Act of 1934, that trading in the abovelisted company is suspended for the

period from 9:30 a.m. EST, November 3,

1997 through 11:59 p.m. EST, on

November 14, 1997.

By the Commission.

Jonathan G. Katz,

Secretary.

[FR Doc. 97–29353 Filed 11–3–97; 11:15 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–39284; File No. SR–NASD–

97–38]

Self-Regulatory Organizations;

National Association of Securities

Dealers, Inc.; Order Granting Approval

to Proposed Rule Change, and

Amendment No. 1 thereto, Relating to

the Application of the NASD Corporate

Financing Requirements To Exchange

Offers, Mergers and Acquisitions, and

Other Similar Transactions

October 29, 1997.

On May 23, 1997, the National

Association of Securities Dealers, Inc.

(‘‘NASD’’ or ‘‘Association’’) submitted

to the Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’),

pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a

proposed rule change to clarify the

application of Rules 2710 and 2720 to

exchange offers, merger and acquisition

transactions, and other similar corporate

reorganizations. On June 19, 1997, the

NASD submitted Amendment No. 1 to

the proposed rule change.3

The proposed rule change and

Amendment No. 1 were published for

comment in Securities Exchange Act

Release No. 38822 (July 8, 1997), 62 FR

38150 (July 16, 1997). No comments

were received on the proposal. This

order approves the proposed rule

change as amended.

I. Introduction

Rule 2710 of the Conduct Rules of the

NASD (‘‘Corporate Financing Rule’’)

requires that members file with the

Corporate Financing Department of the

NASD public offerings of securities for

review of the proposed underwriting

terms and arrangements, which terms

and arrangements must comply with

that rule. Rule 2720 of the Conduct

Rules (‘‘Conflicts Rule’’) establishes

standards in addition to those in Rule

2710 to address the conflicts-of-interest

that occur in connection with a public

offering of the securities of a member,

the parent of a member, an affiliate of

a member, or other issuer with whom

the member has a conflict-of-interest.

For an offering to be subject to filing

under the Corporate Financing and

Conflicts Rules, a member must be

considered to be ‘‘participating’’ in the

offering and the offering must be one

that is subject to the filing requirements.

Paragraph (a)(5) of Rule 2710 defines

‘‘participation or participating in a

public offering’’ to include participation

in the preparation of the offering or

other documents, participation in the

distribution of the offering on an

underwritten, non-underwritten, or any

other basis, furnishing of customer and/

or broker lists for solicitation, or

participation in any advisory or

consulting capacity to the issuer related

to the offering, but not the preparation

of an appraisal in a savings and loan

conversion or a bank offering or the

preparation of a fairness opinion

pursuant to Rule 13e–3 under the Act.4

With respect to offerings subject to

compliance with the Rules, the

Corporate Financing and Conflict Rules

apply to most ‘‘public offerings’’ of

securities, which is defined in Rule

2720(b)(14) to include, among other

things, ‘‘offerings made pursuant to a

merger or acquisition.’’ Neither the

Corporate Financing Rule nor the

Conflicts Rule currently identifies the

types of mergers and acquisitions

subject to filing and compliance with

those rules. The NASD has, therefore,

determined to amend Rules 2710 and

2720 to clarify the application of the

requirements of the Corporate Financing

and Conflicts Rules to exchange offers,

mergers and acquisitions, and similar

corporate reorganizations and make

other related amendments. In view of

the increasing amount of merger and

acquisition activity, the NASD believes

that the proposed amendments to Rule

2710 and 2720 will provide certainty

and eliminate confusion regarding their

application to such transactions.

With respect to the time-sensitive

nature of many mergers and

acquisitions, exchange offers, and

similar corporate reorganizations that

would become subject to filing as a

result of approval of the proposed rule

change, the NASD previously

announced a policy to expedite the

review of such offerings by the

Corporate Financing Department.5 In

general, it is anticipated that a comment

letter will be issued by the Corporate

Financing Department of the NASD

within 48 hours of receipt of the filing