65842 Federal Register / Vol. 62, No. 241 / Tuesday, December 16, 1997 / Notices

2The Commission has modified the text of the

summaries prepared by PTC.

3 15 U.S.C. 78q–1(b)(3)(F).

4 15 U.S.C. 78s(b)(3)(A)(i).

5 17 CFR 240.19b–4(e)(1).

6 17 CFR 200.30–3(a)(12).

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The proposed rule change amends

PTC’s rules to make them consistent

with the revisions to Articles 8 and 9 of

the Uniform Commercial Code (‘‘UCC’’)

of the State of New York.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission, PTC

included statements concerning the

purpose of and basis for the proposed

rule change and discussed any

comments it received on the proposed

rule change. The text of these statements

may be examined at the places specified

in Item IV below. PTC has prepared

summaries, set forth in sections (A), (B),

and (C) below, of the most significant

aspects of such statement.2

(A) Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

The purpose of the proposed rule

change is to amend PTC’s rules to make

them consistent with the amendments

to Article 8 and Article 9 of the UCC

(collectively ‘‘Article 8’’) that are

effective in the State of New York on

October 10, 1997. According to PTC, the

proposed amendments retain the

meaning of PTC’s existing rules under

the new Article 8 format and

terminology by deleting certain crossreferences to the former Article 8 and

replacing obsolete terminology.

PTC believes the proposed rule

change is consistent with Section

17A(b)(3)(F) of the Act 3 and the rules

and regulations thereunder because it

calls for the prompt and accurate

clearance and settlement of securities

transactions and protects investors and

the public interest, by conforming PTC’s

rules to changes in the New York State

law in order to retain the meaning of

PTC’s existing rules.

(B) Self-Regulatory Organization’s

Statement on Burden on Competition

PTC does not believe that the

proposed rule change imposes any

burden on competition.

(C) Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants or Others

Participants have requested that PTC

make the proposed rule change. PTC has

not solicited nor received any written

comments on the proposed rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The foregoing rule change has become

effective pursuant to Section

19(b)(3)(A)(i) of the Act 4 and pursuant

to Rule 19b–4(e)(1) 5 promulgated

thereunder because the proposal

constitutes a stated policy, practice, or

interpretation with respect to the

meaning, administration, or

enforcement of existing PTC rules. At

any time within sixty days of the filing

of such rule change, the Commission

may summarily abrogate such rule

change if it appears to the Commission

that such action is necessary or

appropriate in the public interest, for

the protection of investors, or otherwise

in furtherance of the purposes of the

Act.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with the

provisions of 5 U.S.C. § 552, will be

available for inspection and copying in

the Commission’s Public Reference

Section, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing also will be available for

inspection and copying at the principal

office of PTC. All submissions should

refer to File No. SR–PTC–97–04 and

should be submitted by January 6, 1998.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–32752 Filed 12–15–97; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

[Declaration of Disaster #2993]

State of Mississippi (and Contiguous

Parishes in Louisiana)

Pearl River County and the

contiguous Counties of Forrest,

Hancock, Harrison, Lamar, Marion, and

Stone in the State of Mississippi, and St.

Tammany and Washington Parishes in

the State of Louisiana constitute a

disaster area as a result of damages

caused by a tornado which occurred on

November 21, 1997. Applications for

loans for physical damage as a result of

this disaster may be filed until the close

of business on January 30, 1998 and for

economic injury until the close of

business on September 1, 1998 at the

address listed below or other locally

announced locations: U.S. Small

Business Administration, Disaster Area

2 Office, One Baltimore Place, Suite

300, Atlanta, GA 30308.

The interest rates are:

For Physical Damage

Homeowners with credit available

elsewhere—7.625%

Homeowners without credit available

elsewhere—3.812%

Businesses with credit available

elsewhere—8.000%

Businesses and non-profit

organizations without credit available

elsewhere—4.000%

Others (including non-profit

organizations) with credit available

elsewhere—7.125%

For Economic Injury

Businesses and small agricultural

cooperatives without credit available

elsewhere—4.000%

The numbers assigned to this disaster

for physical damage are 299312 for

Mississippi and 299412 for Louisiana.

For economic injury the numbers are

967300 for Mississippi and 967400 for

Louisiana.

(Catalog of Federal Domestic Assistance

Program Nos. 59002 and 59008.)

Dated: December 1, 1997.

Ginger Lew

Acting Administrator.

[FR Doc. 97–32725 Filed 12–15–97; 8:45 am]

BILLING CODE 8025–01–P