Federal Register / Vol. 62, No. 6 / Thursday, January 9, 1997 / Notices 1347

hazards of radiation and to assure that

the Commonwealth’s program will

continue to be compatible with the

program of the Commission for the

regulation of like materials. The

Commonwealth and the Commission

will use their best efforts to keep each

other informed of proposed changes in

their respective rules and regulations

and licensing, inspection and

enforcement policies and criteria, and to

obtain the comments and assistance of

the other party thereon.

Article VII

The Commission and the

Commonwealth agree that it is desirable

to provide reciprocal recognition of

licenses for the materials listed in

Article I licensed by the other party or

by any other Agreement State.

Accordingly, the Commission and the

State agree to use their best efforts to

develop appropriate rules, regulations,

and procedures by which such

reciprocity will be accorded.

Article VIII

The Commission, upon its own

initiative after reasonable notice and

opportunity for hearing to the

Commonwealth, or upon request of the

Governor of the Commonwealth, may

terminate or suspend all or part of this

Agreement and reassert the licensing

and regulatory authority vested in it

under the Act if the Commission finds

that (1) such termination or suspension

is required to protect public health and

safety, or (2) the Commonwealth has not

complied with one or more of the

requirements of Section 274 of the Act.

The Commission may also, pursuant to

Section 274j of the Act, temporarily

suspend all or part of this Agreement if,

in the judgement of the Commission, an

emergency situation exists requiring

immediate action to protect public

health and safety and the

Commonwealth has failed to take

necessary steps. The Commission shall

periodically review this Agreement and

actions taken by the Commonwealth

under this Agreement to ensure

compliance with Section 274 of the Act.

Article IX

This Agreement shall become

effective on [April 24, 1996,] (date to be

determined) and shall remain in effect

unless and until such time as it is

terminated pursuant to Article VIII.

Done at [Boston, Massachusetts]

(location to be determined), in triplicate,

this [24]th Day of [April, 1996] (date to

be determined).

For the United States Nuclear Regulatory

Commission.

lllllllllllllllllllll

Shirley Ann Jackson,

Chairman.

For the Commonwealth of Massachusetts.

lllllllllllllllllllll

William F. Weld,

Governor.

[FR Doc. 97–403 Filed 1–8–97; 8:45 am]

BILLING CODE 7590–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–26640]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

January 3, 1997.

Notice is hereby given that the

following filing(s) has/have been made

with the Commission pursuant to

provisions of the Act and rules

promulgated thereunder. All interested

persons are referred to the application(s)

and/or declaration(s) for complete

statements of the proposed

transaction(s) summarized below. The

application(s) and/or declaration(s) and

any amendments thereto is/are available

for public inspection through the

Commission’s Office of Public

Reference.

Interested persons wishing to

comment or request a hearing on the

application(s) and/or declaration(s)

should submit their views in writing by

January 27, 1997, to the Secretary,

Securities and Exchange Commission,

Washington, D.C. 20549, and serve a

copy on the relevant applicant(s) and/or

declarant(s) at the address(es) specified

below. Proof of service (by affidavit or,

in case of an attorney at law, by

certificate) should be filed with the

request. Any request for hearing shall

identify specifically the issues of fact or

law that are disputed. A person who so

requests will be notified of any hearing,

if ordered, and will receive a copy of

any notice or order issued in the matter.

After said date, the application(s) and/

or declaration(s), as filed or as amended,

may be granted and/or permitted to

become effective.

Entergy Corporation (70–8977)

Entergy Corporation, 639 Loyola

Avenue, New Orleans, Louisiana 70113

(‘‘Entergy’’), a registered holding

company, has filed a declaration with

the commission pursuant to sections

6(a) and 7 of the Act.

Entergy adopted an employee stock

option plan, known as the Entergy Stock

Investment Plan (‘‘Plan’’), dated October

29, 1993. In connection with the

implementation of the Plan, the

Commission, by order dated December

28, 1993 (HCAR No. 25963), authorized

Entergy, from time to time through

March 31, 1997, to (i) grant options

(‘‘Options’’) to eligible employees (as

hereinafter defined) to purchase up to

2,000,000 shares of its common stock,

$5 par value, or any successor security

(‘‘Stock’’), and (ii) to issue and sell up

to 2,000,000 shares of such Stock upon

the exercise of such Options. In

addition, Entergy was authorized to

purchase, from time to time through

March 31, 1997, up to 2,000,000 shares

of Stock to be held as treasury shares,

pending resale to such employees, for

the purpose of satisfying the anticipated

requirements of the Plan.

The Plan, as currently in effect,

provides for three consecutive annual

offerings of Stock, with the first such

annual period commencing on April 1,

1994 and the third and final such

annual period termininating March 31,

1997. Entergy now proposes to renew

and extend the Plan for an additional

three year period commencing April 1,

1997, and to amend the Plan to provide

for such renewal and extension and for

the sale of up to 2,000,000 additional

shares of Stock during this extended

term.

Accordingly, Entergy requests

authorization, from time to time during

the period through March 31, 2000, to

grant additional Options pursuant to the

terms of the Plan, as amended, and, in

connection with the execution of such

Options (and the Options previously

granted), to sell up to an aggregate

maximum of 4,000,000 shares of its

Stock (including the 2,000,000 shares

currently authorized) which may be

either authorized but unissued shares or

previously issued shares purchased by

Entergy on the open market and held by

the Corporation as treasury shares.

Entergy intends, pursuant to rule 42, to

purchase on the open market, from time

to time through March 31, 2000, up to

an aggregate maximum of 4,000,000

shares of Stock (including the 2,000,000

shares currently authorized), to be held

as treasury shares pending resale to

participating employees pursuant to the

terms of the Plan.

Funds for the purchase of shares of

Stock on the open market to satisfy the

requirements of the Plan will be

obtained from internally generated

funds. Proceeds from the sale of shares

of Stock under the Plan will become

part of the general coporate funds of

Entergy and will be used (i) to purchase

Stock of Entergy sold or to be sold by

Entergy under the Plan, or (ii) for other

general corporate purposes. Any

authorization that is required under the
1348 Federal Register / Vol. 62, No. 6 / Thursday, January 9, 1997 / Notices

1 15 U.S.C. § 78s(b)(1).

2 17 CFR 240.19b–4.

3See Letter from David T. Rusoff, Foley & Lardner

to David Sieradzki, SEC, dated December 11, 1996

(‘‘Amendment No. 1’’). Amendment No. 1 changes

the period of time for an Approved Lessor to lease

a seat on the exchange from ‘‘a reasonable time’’ to

within 60 days after becoming an Approved Lessor.

The Exchange will have the authority to extend the

60 day time period upon the request of an

Approved Lessor for good cause shown. In addition,

Article IA, Rule 1, Interpretation and Policy .01 is

amended to reduce the percentage ownership

required to be considered a control person from

10% to 5%. This is consistent with recent changes

to Article VI, Rule 2, where the 5% standard was

used.

4See Letter from David T. Rusoff, Foley & Lardner

to David Sieradzki, SEC, dated December 17, 1996

(‘‘Amendment No. 2’’). Amendment No. 2 adds

language describing the amendment to Article XIV,

Rule 2, relating to the imposition of transaction

fees.

5See Letter from David T. Rusoff, Foley & Lardner

to Katherine England, SEC, dated December 30,

1996 (‘‘Amendment No. 3’’). Amendment No. 3

changes language in Article I, Rule 10 relating to the

ability of the Exchange to waive the requirement

that no person own or have voting power for more

than ten percent of the outstanding memberships.

The former language, which provided that the

requirement may be waived by the Exchange

‘‘under appropriate circumstances,’’ has been

replaced by ‘‘for good cause shown.’’ In addition,

the Amendment makes several technical, nonsubstantive changes to the filing.

Act for entergy to issue or sell shares of

Stock for corporate purposes other than

as set forth herein would be the subject

to a separate filing or filings with the

Commission.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–444 Filed 1–8–97; 8:45 am]

BILLING CODE 8010–01–M

Sunshine Act Meetings

Notice is hereby given, pursuant to

the provisions of the Government in the

Sunshine Act, Pub. L. 94–409, that the

Securities and Exchange Commission

will hold the following meetings during

the week of January 13, 1997.

An open meeting will be held on

Monday, January 13, 1997, at 10:00 a.m.

A closed meeting will be held on

Thursday, January 16, 1997, at 2:30 p.m.

Commissioners, Counsel to the

Commissioners, the Secretary to the

Commission, and recording secretaries

will attend the closed meeting. Certain

staff members who have an interest in

the matters may also be present.

The General Counsel of the

Commission, or his designee, has

certified that, in his opinion, one or

more of the exemptions set forth in 5

U.S.C. 552b(c)(4), (8), (9)(A) and (10)

and 17 CFR 200.402(a)(4), (8), (9)(i) and

(10), permit consideration of the

scheduled matters at the closed meeting.

Commissioner Wallman, as duty

officer, voted to consider the items

listed for the closed meeting in a closed

session.

The subject matter of the open

meeting scheduled for Monday, January

13, 1997, at 10:00 a.m., will be:

Consideration of whether to issue a

release proposing rules and soliciting

comments to require the front of

prospectuses to be drafted in plain

English and amending current rules to

provide standards on the meaning of

clear, concise and understandable

disclosure in prospectuses. For further

information, contact Ann D. Wallace in

the Division of Corporation Finance at

(202) 942–2980, or Kathleen Clarke in

the Division of Investment Management

at (202) 942–0724.

The subject matter of the closed

meeting scheduled for Thursday,

January 16, 1997, at 2:30 p.m., will be:

Injunction and settlement of

injunctive actions.

Institution and settlement of

administrative proceedings of an

enforcement nature.

Opinion.

At times, changes in Commission

priorities require alterations in the

scheduling of meeting items. For further

information and to ascertain what, if

any, matters have been added, deleted

or postponed, please contact: The Office

of the Secretary at (202) 942–7070.

Dated: January 7, 1997.

Jonathan G. Katz,

Secretary.

[FR Doc. 97–621 Filed 1–7–97; 12:34 pm]

BILLING CODE 8010–01–M

[Release No. 34–38114; File No. SR–CHX–

96–30]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

the Chicago Stock Exchange,

Incorporated Relating to Standards for

Approved Lessors of Exchange

Memberships

January 3, 1997.

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

Securities Exchange Act of 1934

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

notice is hereby given that on November

12, 1996, the Chicago Stock Exchange,

Incorporated (‘‘CHX’’ or ‘‘Exchange’’)

filed with the Securities and Exchange

Commission (‘‘Commission’’) the

proposed rule change. On December 11,

1996, the Exchange filed Amendment

No. 1 3 to the proposed rule change, on

December 17, 1996, the Exchange filed

Amendment No. 2 4 and on December

30, 1996, filed Amendment No. 3 5 to

the proposed rule change as described

in Items I and II below, which Items

have been prepared by the selfregulatory organization. The

Commission is publishing this notice to

solicit comments on the proposed rule

change from interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Exchange proposes to amend

Article I, Article VIII and Article XIV of,

and add a new Article IA to, the CHX’s

Rules, to create standards for Approved

Lessors (as defined below) of Exchange

memberships.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission, the

self-regulatory organization 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.

The self-regulatory organization has

prepared summaries, set forth in

Sections A, B, and C below, of the most

significant aspects of such statements.

A. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

1. Purpose

The purpose of the proposed rule

change is to create a new form of

membership known as an ‘‘Approved

Lessor.’’ An Approved Lessor will be an

individual or entity that desires to

purchase a membership in the CHX for

the sole purpose of providing a

financing mechanism for another person

or entity that desires to become a

member or member organization

(‘‘lessee’’). A lessor that registers with

and is approved by the CHX will be an

Approved Lessor.

When an Approved Lessor has

entered into this financing relationship

(or lease) with a lessee, the Approved

Lessor will not be considered a

‘‘member’’ or ‘‘member organization’’ of

the CHX for purposes of the Act, or for

purposes of the CHX’s Certificate of

Incorporation, Constitution and Rules

except that an Approved Lessor will

have the right to vote on proposals to

liquidate or dissolve the Exchange and

shall possess liquidation rights, as set

forth in Article IX, Sec. 2 of the

Constitution, upon such dissolution. In

addition, an Approved Lessor shall be