Federal Register / Vol. 62, No. 236 / Tuesday, December 9, 1997 / Rules and Regulations 64687

evaluation. The audit standards to be

applied to ATP awards are the

‘‘Government Auditing Standards’’

(GAS) issued by the Comptroller

General of the United States (also

known as yellow book standards) and

the ATP program-specified audit

guidelines. The ATP program-specific

audit guidelines include guidance on

the number of audits required under an

award. In the interest of efficiency, the

recipients are encouraged to retain their

own independent CPA firm to perform

these audits. The Department of

Commerce’s Office of Inspector General

(OIG) reserves the right to conduct

audits as deemed necessary and

appropriate.

13. Section 295.14 is removed.

14. Section 295.22 is revised to read

as follows:

§ 295.22 Limitations on assistance.

(a) An award will be made under this

subpart only if the award will facilitate

the formation of a joint venture or the

initiation of a new research and

development project by an existing joint

venture.

(b) The total value of any in-kind

contributions used to satisfy the cost

sharing requirement may not exceed 30

percent of the non-federal share of the

total project costs.

15. Section 295.25 is added to subpart

B as follows:

§ 295.25 Special rule for the valuation of

transfers between separately-owned joint

venture members.

(a) Applicability. This section applies

to transfers of goods, including

computer software, and services

provided by the transferor related to the

maintenance of those goods, when those

goods or services are transferred from

one joint venture member to other

separately-owned joint venture

members.

(b) Rule. The greater amount of the

actual cost of the transferred goods and

services as determined in accordance

with applicable Federal cost principles,

or 75 percent of the best customer price

of the transferred goods and services,

shall be deemed to be allowable costs;

provided, however, that in no event

shall the aggregate of these allowable

costs exceed 30 percent of the nonFederal share of the total cost of the

joint research and development

program.

(c) Definition. The term ‘‘best

customer price’’ shall mean the GSA

schedule price, or if such price is

unavailable, the lowest price at which a

sale was made during the last twelve

months prior to the transfer of the

particular good or service.

16. Sections 295.31 and 295.32 are

revised to read as follows:

§ 295.31 Qualification of proposers.

Awards under this subpart will be

available to all businesses, subject to the

limitations set out in §§ 295.3 and

295.32.

§ 295.32 Limitations on assistance.

(a) The Program will not directly

provide funding under this subpart to

any governmental entity, academic

institution or independent research

organization.

(b) For proposals submitted to ATP

after December 31, 1997, awards to large

businesses made under this subpart

shall not exceed 40 percent of the total

project costs of those awards in any year

of the award.

(c) Awards under this subpart may

not exceed $2,000,000, or be for more

than three years, unless the Secretary

provides a written explanation to the

authorizing committees of both Houses

of Congress and then, only after thirty

days during which both Houses of

Congress are in session. No funding for

indirect costs, profits, or management

fees shall be available for awards made

under this subpart.

(d) The total value of any in-kind

contributions used to satisfy a cost

sharing requirement may not exceed 30

percent of the non-federal share of the

total project costs.

17. In part 295 remove the word

‘‘applicants’’ or ‘‘applicant’’ and add in

its place the word ‘‘proposers’’ or

‘‘proposer’’ in the following places:

§ 295.7(a), (b) and (c); § 295.21 section

heading; subpart C heading; and

§ 295.31 section heading.

[FR Doc. 97–32215 Filed 12–8–97; 8:45 am]

BILLING CODE 3510–13–M

SECURITIES AND EXCHANGE

COMMISSION

17 CFR Part 274

[Release Nos. 33–7478; IC–22920; File No.

S7–19–97]

RIN 3235–AG73

Update of Registration Form to Reflect

Fee Rate Change for Registration of

Certain Investment Company

Securities

AGENCY: Securities and Exchange

Commission.

ACTION: Amendments to form.

SUMMARY: The Securities and Exchange

Commission (‘‘Commission’’) is

updating the fee rate information in the

instructions to the form under the

Investment Company Act of 1940 that

prescribes the method by which certain

investment companies calculate and pay

registration fees on securities they issue

(the form was last published at 62 FR

47941 (Sept. 12, 1997)). On November

28, 1997, legislation was enacted that

sets a new fee rate of $295 per

$1,000,000 offered or sold (prorated for

amounts less than $1,000,000).

Registration fees under this new rate are

calculated by multiplying the aggregate

offering or sales amount by .000295.

This amendment updates the reference

to the current fee rate in the instructions

to the form.

EFFECTIVE DATE: December 9, 1997.

FOR FURTHER INFORMATION CONTACT:

Robin S. Gross, Staff Attorney, Office of

Regulatory Policy at (202) 942–0690, or

Carolyn A. Miller, Senior Financial

Analyst, Office of Financial Analysis at

(202) 942–0513, Division of Investment

Management, Securities and Exchange

Commission, 450 5th Street, N.W., Mail

Stop 10–2, Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: The

Commission today is amending

Instruction C.9 to Form 24F–2 [17 CFR

274.24] under the Investment Company

Act of 1940 [15 U.S.C. 80a] (the

‘‘Investment Company Act’’).

Form 24F–2 is the Form on which

certain investment companies file an

annual notice of securities sold

pursuant to rule 24f–2 under the

Investment Company Act [17 CFR

270.24f–2]. The Instruction to Item

5(vii) explains that the multiplier for

calculation of the registration fee is

determined by the Commission in

accordance with section 6(b) of the

Securities Act of 1933 [15 U.S.C. 77f(b)].

The Instruction informs filers of the

multiplier that was in effect as of the

date of the most recent printing of the

Form, but indicates that this rate is

subject to change from time to time,

without notice, by act of Congress

through appropriations for the

Commission or other laws.

On November 28, 1997, legislation

was enacted that sets the fee rate at $295

per $1,000,000 offered or sold (prorated

for amounts less than $1,000,000). Fees

will be calculated by multiplying the

aggregate offering or sales amount by

.000295.

The Commission is amending the

Instruction to Item 5(vii) of Form

24F–2 to reflect the change in the fee

rate.

Statutory Authority

The Commission is amending Form

24F–2 pursuant to the authority set forth

in sections 24 and 38(a) of the
64688 Federal Register / Vol. 62, No. 236 / Tuesday, December 9, 1997 / Rules and Regulations

Investment Company Act [15 U.S.C.

80a–24, –37(a)].

Text of Form Amendments

For the reasons set out in the

preamble, Form 24F–2, referenced in

§ 274.24, Title 17, Chapter II of the Code

of Federal Regulations, is amended as

follows:

PART 274—FORMS PRESCRIBED

UNDER THE INVESTMENT COMPANY

ACT OF 1940

1. The authority citation for Part 274

continues to read as follows:

Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s,

78c(b), 78l, 78m, 78n, 78o(d), 80a–8, 80a–24,

and 80a–29, unless otherwise noted.

2. Form 24F–2 (referenced in

§ 274.24) is amended by revising the

second and third sentences of

Instruction C.9 to Item 5(vii) to read as

follows:

Note: Form 24F–2 does not, and the

amendments will not, appear in the Code of

Federal Regulations.

Form 24F–2

Annual Notice of Securities Sold

Pursuant to Rule 24f–2

* * * * *

Instructions

* * * * *

C. Computation of Registration Fee

* * * * *

9. Item 5(vii)—* * * As of November

28, 1997, the fee rate was $295 per

$1,000,000 offered or sold (prorated for

amounts less than $1,000,000). The

registration fee is calculated by

multiplying the aggregate offering or

sales amount by .000295. * * *

* * * * *

For the Commission, by the Office of the

Secretary, pursuant to delegated authority.

Dated: December 2, 1997.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–31961 Filed 12–8–97; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF ENERGY

Federal Energy Regulatory

Commission

18 CFR Part 35

[Docket Nos. RM95–8–003 and RM94–7–

004; Order No. 888–B]

Promoting Wholesale Competition

Through Open Access NonDiscriminatory Transmission Services

by Public Utilities; Recovery of

Stranded Costs by Public Utilities and

Transmitting Utilities

Issued November 25, 1997.

AGENCY: Federal Energy Regulatory

Commission, Energy.

ACTION: Final rule; order on rehearing.

SUMMARY: The Federal Energy

Regulatory Commission affirms, with

certain clarifications, the fundamental

calls made in its order on rehearing of

the final rule in this proceeding. The

final rule directed public utilities to

open their transmission lines to

competitors and to offer them the same

charges and conditions they apply to

themselves. The rule also gave utilities

an opportunity to seek recovery of

certain stranded costs, i.e., costs that

were prudently incurred to serve

customers that use open access

transmission under the final rule to shift

to another power supplier. The

Commission in this order clarifies its

position on recovery of stranded costs in

the case of municipalizations and

municipal annexations, where

customers previously served by a public

utility become customers of a municipal

utility instead.

EFFECTIVE DATE: February 9, 1998.

FOR FURTHER INFORMATION CONTACT:

David D. Withnell (Legal Information—

Docket No. RM95–8–003), Office of

the General Counsel, Federal Energy

Regulatory Commission, 888 First

Street, N.E., Washington, D.C. 20426,

(202) 208–2063.

Deborah B. Leahy (Legal Information—

Docket No. RM94–7–004), Office of

the General Counsel, Federal Energy

Regulatory Commission, 888 First

Street, N.E., Washington, D.C. 20426,

(202) 208–2039.

Daniel T. Hedberg (Technical

Information—Docket No. RM95–8–

003), Office of Electric Power

Regulation, Federal Energy Regulatory

Commission, 888 First Street, N.E.,

Washington, D.C. 20426, (202) 208–

0243.

Joseph M. Power (Technical

Information—Docket No. RM94–7–

004), Office of Electric Power

Regulation, Federal Energy Regulatory

Commission, 888 First Street, N.E.,

Washington, D.C. 20426, (202) 208–

0243.

SUPPLEMENTARY INFORMATION: In

addition to publishing the full text of

this document in the Federal Register,

the Commission also provides all

interested persons an opportunity to

inspect or copy the contents of this

document during normal business hours

in Room 2A, 888 First Street, N.E.,

Washington, D.C. 20426. The complete

text on diskette in WordPerfect format

may be purchased from the

Commission’s copy contractor, La Dorn

Systems Corporation. La Dorn Systems

Corporation is located in the Public

Reference Room at 888 First Street, N.E.,

Washington, D.C. 20426.

The Commission Issuance Posting

System (CIPS), an electronic bulletin

board service, also provides access to

the texts of formal documents issued by

the Commission. CIPS is available at no

charge to the user. CIPS can be accessed

over the Internet by pointing your

browser to the URL address: http://

www.ferc.fed.us. Select the link to CIPS.

The full text of this document can be

viewed, and saved, in ASCII format and

an entire day’s documents can be

downloaded in WordPerfect 6.1 format

by searching the miscellaneous file for

the last seven days. CIPS also may be

accessed using a personal computer

with a modem by dialing 202–208–

1397, if dialing locally, or 1–800–856–

3920, if dialing long distance. To access

CIPS, set your communications software

to 19200, 14400, 12000, 9600, 7200,

4800, 2400, or 1200 bps, full duplex, no

parity, 8 data bits and 1 stop bit. The

full text of this order will be available

on CIPS in ASCII and WordPerfect 6.1

format. CIPS user assistance is available

at 202–208–2474.

Table of Contents

I. Introduction

II. Public Reporting Burden

III. Background

IV. Discussion

A. Open Access Issues

1. Discounting

2. Reciprocity

3. Indemnification/Liability

4. Qualifying Facilities (QF)/Real Power

Loss Service

5. Right of First Refusal/Reservation of

Transmission Capacity

6. Energy Imbalance Service

a. Appropriate bandwidth for small

utilities

b. Settlements establishing a deviation

bandwidth or minimum imbalance

7. Transmission Provider ‘‘Taking Service’’

Under Its Tariff for Power Purchased on

Behalf of Bundled Retail Customers

a. Jurisdiction

b. Purchases for retail native load