5918 Federal Register / Vol. 65, No. 25 / Monday, February 7, 2000 / Notices

For the Nuclear Regulatory Commission.

William M. Dean,

Chief, Inspection Program Branch, Division

of Inspection Program Management, Office

of Nuclear Reactor Regulation.

[FR Doc. 00–2710 Filed 2–4–00; 8:45 am]

BILLING CODE 7590–01–U

RAILROAD RETIREMENT BOARD

Proposed Collection; Comment

Request

SUMMARY: In accordance with the

requirement of Section 3506(c)(2)(A) of

the Paperwork Reduction Act of 1995

which provides opportunity for public

comment on new or revised data

collections, the Railroad Retirement

Board (RRB) will publish periodic

summaries of proposed data collections.

Comments are invited on: (a) Whether

the proposed information collection is

necessary for the proper performance of

the functions of the agency, including

whether the information has practical

utility; (b) the accuracy of the RRB’s

estimate of the burden of the collection

of the information; (c) ways to enhance

the quality, utility, and clarity of the

information to be collected; and (d)

ways to minimize the burden related to

the collection of information on

respondents, including the use of

automated collection techniques or

other forms of information technology.

Title and purpose of information

collection: Application and Claim for

Unemployment Benefits and

Employment Service, OMB 3220–0022.

Section 2 of the Railroad

Unemployment Insurance Act (RUIA),

provides unemployment benefits for

qualified railroad employees. These

benefits are generally payable for each

day of unemployment in excess of four

during a registration period (normally a

period of 14 days). Section 12 of the

RUIA provides that the RRB establish,

maintain and operate free employment

facilities directed toward the

reemployment of railroad employees.

The procedures for applying for the

unemployment benefits and

employment service and for registering

and claiming the benefits are prescribed

in 20 CFR 325.

RRB Form UI–1, Application for

Unemployment Benefits and

Employment Service, is completed by a

claimant for unemployment benefits

once in a benefit year, at the time of first

registration. Completion of Form UI–1

also registers an unemployment

claimant for the RRB’s employment

service. Significant non-burden

impacting, formatting and editorial

changes are being proposed to Form UI–

1.

The RRB also utilizes Form UI–3,

Claim for Unemployment Benefits, for

use in claiming unemployment benefits

for days of unemployment in a

particular registration period, normally

a period of 14 days. The RRB proposes

minor non-burden impacting editorial

changes to UI–3.

Completion of Forms UI–1 and UI–3

is required to obtain or retain benefits.

The number of responses required of

each claimant varies, depending on

their period of unemployment. The RRB

estimates that approximately 11,200

Form UI–1’s are filed annually.

Completion time is estimated at 10

minutes. The RRB estimates that

approximately 67,500 Form UI–3’s are

filed annually. Completion time is

estimated at 6 minutes.

ADDITIONAL INFORMATION OR COMMENTS:

To request more information or to

obtain a copy of the information

collection justification, forms, and/or

supporting material, please call the RRB

Clearance Officer at (312) 751–3363.

Comments regarding the information

collection should be addressed to

Ronald J. Hodapp, Railroad Retirement

Board, 844 N. Rush Street, Chicago,

Illinois 60611–2092. Written comments

should be received within 60 days of

this notice.

Chuck Mierzwa,

Clearance Officer.

[FR Doc. 00–2615 Filed 2–4–00; 8:45 am]

BILLING CODE 7905–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–24271; 812–11954]

AirTouch Communications, Inc.;

Notice of Application

January 28, 2000.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of application for an

order under section 3(b)(2) of the

Investment Company Act of 1940 (the

‘‘Act’’).

SUMMARY OF APPLICATION: AirTouch

Communications, Inc. (‘‘AirTouch’’)

requests an order under section 3(b)(2)

of the Act declaring that it is engaged

primarily in a business other than that

of investing, reinvesting, owning,

holding, or trading in securities.

Filing Dates: The application was

filed on January 24, 2000.

Hearing or Notification of Hearing: An

order granting the requested relief will

be issued unless the SEC orders a

hearing. interested persons may request

a hearing by writing to the SEC’s

Secretary and serving applicants with a

copy of the request, personally or by

mail. Hearing requests should be

received by the SEC by 5:30 p.m. on

February 22, 2000, and should be

accompanied by proof of service on

applicant, in the form of an affidavit or,

for lawyers, a certificate of service.

Hearing requests should state the nature

of the writer’s interest, the reason for the

request, and the issues contested.

Persons who wish to be notified of a

hearing may request notification by

writing to the SEC’s Secretary.

ADDRESSES: Secretary, SEC, 450 5th

Street, NW, Washington, DC 20549–

0609. AirTouch, One California Street,

San Francisco, CA 94111.

FOR FURTHER INFORMATION CONTACT: J.

Amanda Machen, Senior Counsel, (202)

942–7120, or Michael Mundt, Branch

Chief, (202) 942–0564 (Office of

Investment Company Regulation,

Division of Investment Management).

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application. The complete application

may be obtained for a fee at the SEC’s

Public Reference Branch, 450 5th Street,

NW, Washington, DC 20549–0102 (Tel.

202–942–8090).

Applicant’s Representations

1. AirTouch is a Delaware corporation

and a subsidiary of Vodafone AirTouch

Public Limited Company (‘‘Vodafone

AirTouch’’). AirTouch states that it is

the third largest provider of cellular and

personal communication services in the

United States. Vodafone AirTouch owns

approximately 96.8% of the outstanding

voting securities of AirTouch. AirTouch

states that at the present time it is not

an investment company under section

3(a) of the Act.

2. On September 21, 1999, Vodafone

AirTouch entered into an agreement

with Bell Atlantic Corporation (‘‘Bell

Atlantic’’) to create a new joint venture

(‘‘Wireless’’), a Delaware general

partnership, through which they will

conduct their U.S. wireless

telecommunications business. AirTouch

and Bell Atlantic will transfer their U.S.

mobile telecommunications businesses

and assets to Wireless (the

‘‘Transaction’’), with AirTouch

contributing approximately 46% of the

value of its total unconsolidated assets.

GTE Corp., following its merger with

Bell Atlantic, also will contribute its

cellular and personal communication

services assets to Wireless. After

contribution of these assets, AirTouch

Federal Register / Vol. 65, No. 25 / Monday, February 7, 2000 / Notices 5919

1Section 2(a)(9) of the Act defines ‘‘control’’ as

the power to exercise a controlling influence over

the management or policies of a company. That

section creates a presumption that an owner of

more than 25% of the outstanding voting securities

of a company controls the company.

2 If the requested order is granted, Vodafone

AirTouch’s counsel have advised Vodafone

AirTouch that it is not an investment company

under section 3(a) of the Act.

3See Tonopah Mining Company of Nevada, 26

S.E.C. 426, 427 (1947).

1 17 CFR 240.11Aa3–2.

2OPRA is a National Market System Plan

approved by the Commission pursuant to Section

11A of the Act and Rule 11Aa3–2 thereunder. See

Securities Exchange Act Release No. 17638 (Mar.

18, 1981).

The Plan provides for the collection and

dissemination of last sale and quotation information

on options that are traded on the member

exchanges. The five exchanges that agreed to the

OPRA Plan are the American Stock Exchange

(‘‘AMEX’’); the Chicago Board Options Exchange

(‘‘CBOE’’); the New York Stock Exchange (‘‘NYSE’’);

the Pacific Exchange (‘‘PCX’’); and the Philadelphia

Stock Exchange (‘‘PHLX’’).

will hold a 45% general partner interest

in Wireless and Bell Atlantic will hold

the remaining 55% general partner

interest. The Transaction is expected to

be consummated in early March 2000.

AirTouch states that, following the

Transaction, on an unconsolidated

basis, approximately 62% of its total

assets will consist of securities of

operating companies that AirTouch

controls (within the meaning of section

2(a)(9) of the Act), including Wireless,

approximately 17% will consist of

securities of wholly- and majorityowned subsidiaries, approximately 19%

will consist of other securities, and

approximately 2% will consist of assets

other than securities.1

Applicant’s Legal Analysis

1. Under section 3(a)(1)(C) of the Act,

an issuer is an investment company if

it is engaged or proposes to engage in

the business of investing, reinvesting,

owning, holding, or trading in

securities, and owns or proposes to

acquire investment securities having a

value exceeding 40% of the value of the

issuer’s total assets (exclusive of

Government securities and cash items)

on an unconsolidated basis. Section

3(a)(2) of the Act defines ‘‘investment

securities’’ to include all securities

except Government securities, securities

issued by employees’ securities

companies, and securities issued by

majority-owned subsidiaries of the

owner which are not investment

companies and which are not excepted

from the definition of investment

company by section 3(c)(1) or section

3(c)(7) of the Act.

2. AirTouch states that as a result of

the Transaction, it may meet the

definition of an investment company

under section 3(a)(1)(C) of the Act

because Wireless will not be a whollyor majority-owned subsidiary and,

therefore, AirTouch’s ‘‘investment

securities,’’ as defined in section 3(a)(2)

of the Act, may represent approximately

81% of its total assets on an

unconsolidated basis.

3. Section 3(b)(2) of the Act provides

that, notwithstanding section 3(a)(1)(C)

of the Act, the SEC may issue an order

declaring an issuer to be primarily

engaged in a business or businesses

other than that of investing, reinvesting,

owning, holding, or trading in securities

either directly, through majority-owned

subsidiaries, or controlled companies

conducting similar types of businesses.

AirTouch requests an order under

section 3(b)(2) declaring that it is

primarily engaged through its whollyand majority-owned subsidiaries and

controlled companies in a business

other than that of investing, reinvesting,

owning, holding, or trading in

securities.2

4. In determining whether a company

is primarily engaged in a noninvestment company business under

section 3(b)(2), the SEC considers: (a)

The applicant’s historical development;

(b) its public representations of policy;

(c) the activities of its officers and

directors; (d) the nature of its present

assets; and (e) the sources of its present

income.3

(a) Historical Development. AirTouch

states that it has been an operating

company since 1984, developing mobile

telecommunications networks and

providing telecommunications services

in the U.S. and, beginning in 1989,

overseas.

(b) Public Representations of Policy.

AirTouch states that it has never held,

and does not now hold, itself out as an

investment company. AirTouch asserts

that, in its annual reports, shareholder

communications, prospectuses, SEC

filings, and on its Internet web site, it

consistently has held itself out to the

public as an operator of mobile

telecommunications networks and

provider of telecommunications

services.

(c) Activities of Officers and Directors.

AirTouch states that its officers and

directors are actively engaged in the

management of its wholly- and majorityowned subsidiaries and controlled

companies through which AirTouch

conducts its telecommunications

business. AirTouch states that it has

approximately 14,000 full-time

employees, only two of whom spend

any time on investment activities.

(d) Nature of Assets. AirTouch states

that, as of September 30, 1999, its assets

other than securities, together with

securities of wholly- and majorityowned subsidiaries, represented

approximately 65%, securities and

controlled companies represented

approximately 16%, and other securities

represented approximately 19% of its

total assets on an unconsolidated basis.

AirTouch further states that, following

the consummation of the Transaction,

on a pro forma basis, its assets other

than securities, together with securities

of wholly- and majority-owned

subsidiaries, will represent

approximately 19%, securities of

controlled companies, including

Wireless, will represent approximately

62%, and other securities will represent

approximately 19% of its total assets on

a unconsolidated basis.

(e) Sources of Income. AirTouch

states that for the twelve months ended

March 31, 1999, it had net income of

$844 million, of which 40.1% was

attributable to its wholly- and majorityowned subsidiaries, 45.3% was

attributable to controlled companies,and

14.6% was attributable to investments.

AirTouch states that post-Transaction,

on a pro forma basis, for the twelve

months ended March 31, 1999, its net

income was $925 million, of which

86.7% was attributable to controlled

companies, including Wireless, and

13.3% was attributable to investments.

5. AirTouch thus states that it meets

the factors that the SEC considers in

determining whether an issuer is

primarily engaged in a business other

than that of investing, reinvesting,

owning, holding, or trading in

securities.

For the SEC, by the Division of Investment

Management, under delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–2605 Filed 2–4–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–42362; File No. SR–OPRA–

00–02]

Options Price Reporting Authority;

Notice of Filing and Order Granting

Accelerated Effectiveness of

Amendment to OPRA Plan Adopting a

Temporary Capacity Allocation Plan

January 28, 2000.

Pursuant to Rule 11Aa3–2 under the

Securities Exchange Act of 1934

(‘‘Act’’),1 notice is hereby given that on

January 28, 2000, the Options Price

Reporting Authority (‘‘OPRA’’) 2

submitted to the Securities and