6484 Federal Register / Vol. 62, No. 29 / Wednesday, February 12, 1997 / Rules and Regulations

exercise value of the short put, no

deduction is required.

(c) With respect to transactions

involving unlisted options, every broker

or dealer shall determine the value of

unlisted option positions in accordance

with the provision of paragraph (c)(2)(i)

of § 240.15c3–1, and shall deduct the

percentages of all securities positions or

unlisted options in the proprietary or

other accounts of the broker or dealer

specified in this paragraph (c). However,

where computing the deduction

required for a security position as if the

security position had no related unlisted

option position and positions in

unlisted options as if uncovered would

result in a lesser deduction from net

worth, the broker or dealer may

compute such deductions separately.

Uncovered Calls

(1) Where a broker or dealer is short

a call, deducting 15 percent (or such

other percentage required by paragraphs

(c)(2)(vi) (A) through (K) of § 240.15c3–

1) of the current market value of the

security underlying such option

reduced by any excess of the exercise

value of the call over the current market

value of the underlying security. In no

event shall the deduction provided by

this paragraph be less than $250 for

each option contract for 100 shares.

Uncovered Puts

(2) Where a broker or dealer is short

a put, deducting 15 percent (or such

other percentage required by paragraphs

(c)(2)(vi) (A) through (K) of § 240.15c3–

1) of the current market value of the

security underlying the option reduced

by any excess of the market value of the

underlying security over the exercise

value of the put. In no event shall the

deduction provided by this paragraph

be less than $250 for each option

contract for 100 shares.

Covered Calls

(3) Where a broker or dealer is short

a call and long equivalent units of the

underlying security, deducting 15

percent (or such other percentage

required by paragraphs (c)(2)(vi) (A)

through (K) of § 240.15c3–1) of the

current market value of the underlying

security reduced by any excess of the

current market value of the underlying

security over the exercise value of the

call. No reduction under this paragraph

shall have the effect of increasing net

capital.

Covered Puts

(4) Where a broker or dealer is short

a put and short equivalent units of the

underlying security, deducting 15

percent (or such other percentage

required by paragraphs (c)(2)(vi) (A)

through (K) of § 240.15c3–1) of the

current market value of the underlying

security reduced by any excess of the

exercise value of the put over the market

value of the underlying security. No

such reduction shall have the effect of

increasing net capital.

Conversion Accounts

(5) Where a broker or dealer is long

equivalent units of the underlying

security, long a put written or endorsed

by a broker or dealer and short a call in

its proprietary or other accounts,

deducting 5 percent (or 50 percent of

such other percentage required by

paragraphs (c)(2)(vi) (A) through (K) of

§ 240.15c3–1) of the current market

value of the underlying security.

(6) Where a broker or dealer is short

equivalent units of the underlying

security, long a call written or endorsed

by a broker or dealer and short a put in

his proprietary or other accounts,

deducting 5 percent (or 50 percent of

such other percentage required by

paragraphs (c)(2)(vi) (A) through (K) of

§ 240.15c3–1) of the market value of the

underlying security.

Long Options

(7) Where a broker or dealer is long

a put or call endorsed or written by a

broker or dealer, deducting 15 percent

(or such other percentage required by

paragraphs (c)(2)(vi) (A) through (K) of

§ 240.15c3–1) of the market value of the

underlying security, not to exceed any

value attributed to such option in

paragraph (c)(2)(i) of § 240.15c3–1.

By the Commission.

Dated: February 6, 1997.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–3479 Filed 2–11–97; 8:45 am]

BILLING CODE 8010–01–P

DEPARTMENT OF TRANSPORTATION

Coast Guard

33 CFR Part 117

[CGDO1–95–171]

RIN 2115–AE47

Drawbridge Operation Regulations;

Passaic River, New Jersey

AGENCY: Coast Guard, DOT.

ACTION: Final rule.

SUMMARY: The Coast Guard is changing

the regulations governing the Routes 1

& 9 (Lincoln Highway) Bridge, mile 1.8,

the Point-No-Point Railroad Bridge, mile

2.6, both in Newark, New Jersey, and

the Route 7 (Rutgers Street) Bridge, mile

8.9, in Belleville, New Jersey which

cross the Passaic River. The change will

provide openings on signal if at least

four hours notice is given. This change

was requested by the Consolidated Rail

Corporation (CONRAIL) and New Jersey

Department of Transportation (NJDOT)

because of the limited openings of these

bridges. This action will relieve the

bridge owners of the burden of having

personnel constantly available to open

the bridges and should provide for the

reasonable needs of navigation. Other

changes remove redundant

requirements that are included in the

Part 117 general operating regulations,

provide maximum allowable time

delays for specific railroad bridge

openings, remove unnecessary language,

and reorder the paragraphs for clarity

and consistency.

EFFECTIVE DATE: March 14, 1997.

ADDRESSES: Documents referred to in

this preamble are available by writing to

the First Coast Guard District, Bridge

Branch at Bldg. 135A, Governors Island,

New York 10004–5073. The telephone

number is (212) 668–7994.

FOR FURTHER INFORMATION CONTACT: Gary

Kassof, Chief, Bridge Branch, (212) 668–

7021.

SUPPLEMENTARY INFORMATION:

Regulatory History

On June 21, 1996, the Coast Guard

published a notice of proposed

rulemaking entitled ‘‘Drawbridge

Operation Regulations; Passaic River,

New Jersey’’ in the Federal Register (61

FR 31881). The Coast Guard received

three comments on the notice of

proposed rulemaking. No public hearing

was requested, and none was held.

Background and Purpose

The Routes 1 & 9 (Lincoln Highway),

Point-No-Point Railroad, and Route 7

(Rutgers Street) Bridges have respective

vertical clearances, when in the closed

position, of 40′, 16′, and 8′ above mean

high water (MHW). All three bridges

had previously been required to open on

signal. This rule will permit these

bridges to open on signal if at least four

hours notice is given.

Due to the closure of the River Oil

Terminal in August, 1992, requests for

openings of bridges across the Passaic

River have decreased. For the years

1992, 1993, and 1994, the Routes 1 & 9

(Lincoln Highway) Bridge opened 95, 35

and 29 times, respectively, for vessel

transits; the Point-No-Point Bridge

opened 243, 145 and 124 times; the

Route 7 (Rutgers Street) Bridge opened

129, 161 and 169 times. The previous

regulations are being changed to provide
Federal Register / Vol. 62, No. 29 / Wednesday, February 12, 1997 / Rules and Regulations 6485

CONRAIL and NJDOT relief from having

an operator in constant attendance at

the bridges since there is limited

demand for bridge openings.

Discussion of Comments and Changes

Three comments were received in

response to the notice of proposed

rulemaking. Two offered no objection;

the other from the City of Newark

Department of Engineering wanted

assurances that no openings would be

permitted at the Route 1 & 9 bridge

during rush hours. The City of Newark

provided no evidence and made no

assertion that there is presently any

interruption to vehicular traffic under

the existing rule. The new rule, which

requires four hours for openings,

provides no greater potential for

interrupting vehicular traffic than the

existing rule. Should excessive vehicle

congestion ever occur at this bridge, the

City of Newark may petition the Coast

Guard for an amendment to this rule.

Due to vessel draft requirements and the

need for certain vessels to transit during

specific tidal stages, openings will be

granted during rush hours, if proper

advance notice is given.

To provide consistency with Coast

Guard regulatory practice, proposed

paragraph 117.739(a)(2) is amended to

delete manpower, communications and

maintenance requirements for the New

Jersey Transit crew operation. The

requirement for two qualified operators

is changed to ‘‘adequate number of

operators’’, and requirements regarding

the number of vehicles, type of

communications and deployment of

crew members are deleted. In addition,

the requirement for ‘‘adequate security

measures’’ is deleted.

Regulatory Evaluation

This rule is not a significant

regulatory action under section 3(f) of

Executive Order 12866 and does not

require an assessment of potential costs

and benefits under section 6(a)(3) of that

order. It has not been reviewed by the

Office of Management and Budget under

that order. It is not significant under the

regulatory policies and procedures of

the Department of Transportation (DOT)

(44 FR 11040; February 26, 1979). The

Coast Guard expects the economic

impact of this rule to be so minimal that

a full Regulatory Evaluation, is

unnecessary. This conclusion is based

on the fact that this rule will not prevent

mariners from passing through the

bridges as long as they provide four

hours advance notice. Currently, two

facilities in Newark, New Jersey,

national Fuels and W.A. Steamlines,

receive some of their product by barge.

During the winter months, National

Fuels occasionally receives heating oil

crude by barge in anticipation of

demand for home heating fuel.

Similarly, W.A. Steamlines sometimes

has gasoline delivered by barge to

increase its reserves in the winter

months. Since these deliveries are

scheduled well in advance, the advance

notice requirement will have minimal

impact on these facilities. Small marinas

located along the Passaic River provide

dockage for less than 100 recreational

vessels, many transiting the drawbridges

without requiring openings. Considering

the recreational nature of these trips, an

advance notice requirement will have a

minimal impact on recreational boating

facilities and recreational boaters.

Small Entities

The Coast Guard has considered the

economic impact of this rule on small

entities under the Regulatory Flexibility

Act (5 U.S.C. 601 et seq.). For the

reasons discussed in the Regulatory

Evaluation above, the Coast Guard has

determined that this rule will not have

a significant economic impact on a

substantial number of small entities.

Collection of Information

This rule contains no collection of

information requirements under the

Paperwork Reduction Act (44 U.S.C.

3501 et seq.).

Federalism

The Coast Guard has analyzed this

rule under the principles and criteria

contained in Executive Order 12612 and

has determined that this rule does not

have sufficient federalism implications

to warrant the preparation of a

Federalism Assessment.

Environment

The Coast Guard considered the

environmental impact of this rule and

concluded that, under paragraph

2.B.2.e.(32)(e) of Commandant

Instruction M16475.1B, (as revised by

60 FR 32197, June 20, 1995), this rule

promulgates operating regulations for

drawbridges and is categorically

excluded from further environmental

documentation.

List of Subjects in 33 CFR Part 117

Bridges.

Final Regulation

For the reasons set out in the

preamble, the Coast Guard amends 33

CFR part 117 as follows:

PART 117—[AMENDED]

1. The authority citation for part 117

continues to read as follows:

Authority: 33 U.S.C. 499; 49 CFR 1.46; 33

CFR 1.05–1(g); section 117.255 also issued

under the authority of Pub. L. 102–587, 106

Stat. 5039.

2. Section 117.739 is revised to read

as follows:

§ 117.739 Passaic River.

(a) The following requirements apply

to all bridges in this section across the

Passaic River:

(1) The owners of these bridges shall

provide, and keep in good legible

condition, clearance gauges with figures

not less than twelve (12) inches high

designed, installed and maintained

according to the provisions of § 118.160

of this chapter.

(2) New Jersey Transit Rail

Operations’ (NJTRO) roving crews shall

consist of an adequate number of

operators to ensure NJTRO bridges are

operated according to the requirements

of this section.

(b) The draw of the Routes 1 & 9

(Lincoln Highway) Bridge, mile 1.8, at

Newark, shall open on signal if at least

four hours notice is given.

(c) The draw of CONRAIL’s Point-NoPoint Railroad Bridge, mile 2.6, at

Newark, shall open on signal if at least

four hours notice is given to the

CONRAIL Movement Desk. After the

signal to open is given, the opening may

be delayed no more than ten minutes.

(d) The draw of the Jackson Street

Bridge, mile 4.6, at Harrison, shall open

on signal; except that notice must be

given before 2:30 a.m. for openings

between 3 a.m. and 8:30 a.m. and before

2:30 p.m for openings between 4:30 p.m.

and 7 p.m.

(e) The draw of Amtrak’s Dock Bridge,

mile 5.0, at Harrison, shall open on

signal; except that from 7:20 a.m. to 9:20

a.m. and 4:30 p.m. to 6:50 p.m., Monday

through Friday except federal holidays,

the draw need not be opened. At all

other times, an opening may be delayed

no more than ten minutes, unless the

drawtender and the vessel operator,

communicating by radiotelephone,

agree to a longer delay.

(f) The draw of the Bridge Street

Bridge, mile 5.6, at Harrison, shall open

on signal; except that notice must be

given before 2:30 a.m. for openings

between 3 a.m. and 8:30 a.m. and before

2:30 p.m. for openings between 4:30

p.m. and 7 p.m.

(g) The draw of the NJTRO NewarkHarrison (Morristown Line) Bridge, mile

5.8, at Harrison, New Jersey shall open

on signal if at least one hour advance

notice is given to the drawtender at

Upper Hack Bridge mile 6.9, across the

Hackensack River at Secaucus, N.J. In

the event the HX drawtender is at the

Lower Hack Bridge, mile 3.4 on the
6486 Federal Register / Vol. 62, No. 29 / Wednesday, February 12, 1997 / Rules and Regulations

Hackensack River, at Jersey City then up

to an additional half hour delay in

opening is permitted. After the signal to

open is given, the opening may be

delayed no more than ten minutes.

From 7:15 a.m. to 9 a.m. and from 4:30

p.m. to 6:50 p.m., Monday through

Friday except federal holidays, the draw

need not open.

(h) The draw of the Route 280 (Stickel

Memorial) Bridge, mile 5.8, at Harrison,

shall open on signal if at least eight

hours notice is given. In an emergency,

the draw shall open as soon as possible

but not more than two hours after the

opening request.

(i) The draw of the Clay Street Bridge,

mile 6.0, at Harrison, shall open on

signal; except that notice must be given

before 2:30 a.m. for openings between 3

a.m. and 8:30 a.m. and before 2:30 p.m.

for openings between 4:30 p.m. and 7

p.m.

(j) The draw of the Route 7 (Rutgers

Street) Bridge, mile 6.9, at Belleville,

shall open on signal if at least four

hours notice is given.

(k) The draw of the NJTRO (West

Arlington) Bridge, mile 8.0, at Kearney,

shall open on signal from 7 a.m. to 11

p.m. if at least eight hours notice is

given. After the signal to open is given,

the opening may be delayed no more

than ten minutes. From 11 p.m. to 7

a.m., the draw need not be opened.

(l) The draw of the Avondale Bridge,

mile 10.7, at Lyndhurst, shall open on

signal; except that notice must be given

before 2:30 a.m. for openings between 3

a.m. and 8:30 a.m. and before 2:30 p.m.

for openings between 4:30 p.m. and 7

p.m.

(m) The draw of the NJTRO Bridge,

mile 11.7, at Lyndhurst, shall open on

signal from 8 a.m. to 4 p.m. if at least

six hours notice is given. After the

signal to open is given, the opening may

be delayed no more than ten minutes.

From 4 p.m. to 8 a.m., the draw need

not be opened.

(n) The draw of the Route 3 Bridge,

mile 11.8, at Rutherford, shall open on

signal if at least six hours notice is

given.

(o) The draw of the Douglas O. Mead

(Union Avenue) Bridge, mile 13.2, at

Rutherford, shall open on signal; except

that:

(1) From 4 p.m. to 8 a.m., the draw

shall open if at least eight hours notice

is given; and

(2) On Christmas and New Year’s Day,

the draw shall open if notice is given

prior to 4 p.m. the day prior.

(p) The draw of the following bridges

need not be opened for the passage of

vessels:

(1) Gregory Avenue Bridge, mile 14.0,

at Wallington.

(2) Second Street Bridge, mile 14.7, at

Wallington.

(3) West Eighth Street Bridge, mile

15.3, at Garfield.

Dated: January 28, 1997.

J.L. Linnon,

Rear Admiral, U.S. Coast Guard, Commander,

First Coast Guard District.

[FR Doc. 97–3484 Filed 2–11–97; 8:45 am]

BILLING CODE 4910–14–M

ENVIRONMENTAL PROTECTION

AGENCY

40 CFR Part 180

[OPP–300452; FRL–5585–1]

RIN 2070–AB78

Bifenthrin; Pesticide Tolerances for

Emergency Exemptions

AGENCY: Environmental Protection

Agency (EPA).

ACTION: Final rule.

SUMMARY: This regulation establishes a

time-limited tolerance for combined

residues of the insecticide bifenthrin in

or on the raw agricultural commodities

broccoli and cauliflower in connection

with EPA’s granting of emergency

exemptions under section 18 of the

Federal Insecticide, Fungicide, and

Rodenticide Act authorizing use of

bifenthrin on broccoli and cauliflower

in California. This regulation establishes

a maximum permissible level for

residues of bifenthrin in these foods

pursuant to section 408(l)(6) of the

Federal Food, Drug and Cosmetic Act,

as amended by the Food Quality

Protection Act of 1996. These tolerances

will expire and be revoked

automatically without further action by

EPA on January 31, 1998.

DATES: This regulation becomes

effective February 12, 1997. This

regulation expires and is revoked

automatically without further action by

EPA on January 31, 1998. Objections

and requests for hearings must be

received by EPA on April 14, 1997.

ADDRESSES: Written objections and

hearing requests, identified by the

docket control number, [OPP–300452],

must be submitted to: Hearing Clerk

(1900), Environmental Protection

Agency, Rm. M3708, 401 M St., SW.,

Washington, DC 20460. Fees

accompanying objections and hearing

requests shall be labeled ‘‘Tolerance

Petition Fees’’ and forwarded to: EPA

Headquarters Accounting Operations

Branch, OPP (Tolerance Fees), P.O. Box

360277M, Pittsburgh, PA 15251. A copy

of any objections and hearing requests

filed with the Hearing Clerk identified

by the document control number, [OPP–

300452], should be submitted to: Public

Response and Program Resources

Branch, Field Operations Division

(7506C), Office of Pesticide Programs,

Environmental Protection Agency, 401

M St., SW., Washington, DC 20460. In

person, bring a copy of objections and

hearing requests to Rm. 1132, CM #2,

1921 Jefferson Davis Hwy., Arlington,

VA.

A copy of objections and hearing

requests filed with the Hearing Clerk

may also be submitted electronically by

sending electronic mail (e-mail) to: oppdocket@epamail.epa.gov. Copies of

objections and hearing requests must be

submitted as an ASCII file avoiding the

use of special characters and any form

of encryption. Copies of objections and

hearing requests will also be accepted

on disks in WordPerfect 5.1 file format

or ASCII file format. All copies of

objections and hearing requests in

electronic form must be identified by

the docket number [OPP–300452]. No

Confidential Business Information (CBI)

should be submitted through e-mail.

Electronic copies of objections and

hearing requests on this rule may be

filed online at many Federal Depository

Libraries.

FOR FURTHER INFORMATION CONTACT: By

mail: Margarita Collantes, Registration

Division (7505W), Environmental

Protection Agency, 401 M St., SW.,

Washington, DC 20460. Office location,

telephone number, and e-mail address:

Sixth Floor, Crystal Station #1, 2800

Jefferson Davis Highway, Arlington, VA

22202, (703) 308–8347, e-mail:

collantes.margarita@epamail.epa.gov.

SUPPLEMENTARY INFORMATION: EPA

pursuant to section 408(e) and (l)(6) of

the Federal Food, Drug, and Cosmetic

Act (FFDCA), 21 U.S.C. 346a(e) and

(l)(6), is establishing a tolerance for

residues of the insecticide bifenthrin, (2-

methyl[1,1′-biphenyl]-3-yl)methyl-3-(2-

chloro-3,3,3,-trifluoro-1-propenyl)-2,2-

dimethylcyclopropanecarboxylate in or

on broccoli at 0.1 parts per million

(ppm) and cauliflower at 0.05 ppm.

These tolerances will expire and be

revoked automatically without further

action by EPA on January 31, 1998.

I. Background and Statutory Authority

The Food Quality Protection Act of

1996 (FQPA) (Pub. L. 104–170) was

signed into law August 3, 1996. FQPA

amends both the Federal Food, Drug,

and Cosmetic Act (FFDCA), 21 U.S.C.

301 et seq., and the Federal Insecticide,

Fungicide, and Rodenticide Act

(FIFRA), 7 U.S.C. 136 et seq. The FQPA

amendments went into effect