64734 Federal Register / Vol. 65, No. 210 / Monday, October 30, 2000 / Notices

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b–4.

3See October 18, 2000 letter from Linda Christie,

Exchange, to Heidi Pilpel, Special Counsel,

Division of Market Regulation, SEC (‘‘Amendment

No. 1’’). In Amendment No. 1, the Exchange

requested that the proposed rule change be filed

under Section 19(b)(3)(A) of the Act and Rule 19b–

4(f)(6) thereunder. 15 U.S.C. 78s(b)(3)(A) and 17

CFR 240.19b–4(f)(6). The Exchange also requested

that the Commission treat the original proposed

rule change as the 5 day prefiling notice required

under Rule 19b–4(f)(6); and requested that the

Commission waive the 30-day period before the

proposal becomes effective to permit the proposed

rule change to become immediately effective.

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

5 17 CFR 240.19b–4(f)(6).

6See Securities Exchange Act Release No. 41210

(March 24, 1999), 64 FR 15857 (April 1, 1999), (SR–

Phlx–96–14).

7The Commission requested that the Exchange

provide a report that: (i) addresses the overall

reliability of the System and identifies any System

outages or other technical problems; (ii) provides a

summary of the Exchange’s surveillance efforts; (iii)

discusses the strategies employed by the users and

committers and evaluates whether the system is

useful to market participants; (iv) provides feedback

from Exchange members and non-members

regarding their experience with the system; and (v)

measures the system’s impact and effect on the

primary market of eligible securities. The Exchange

submitted its report in September 2000, which

report identified no significant problems with the

operation of the System.

8 15 U.S.C. 78f(b)(5).

9 15 U.S.C. 78s(b)(3)(A).

10 17 CFR 240.19b–4(f)(6).

13. In the event that a Qualified Plan

should ever become an owner of 10% or

more of the assets of a Fund, such

Qualified Plan will execute a

participation agreement with the

relevant Trust including the conditions

set forth herein, to the extent applicable.

A Qualified Plan will execute an

application containing an

acknowledgment of this condition at the

time of its initial purchase of shares of

the relevant Fund.

Conclusion

For the reasons summarized above,

Applicants submit that the requested

exemptions are necessary and

appropriate in the public interest and

consistent with the protection of

investors and the purposes fairly

intended by the policy and provisions of

the Act.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–27749 Filed 10–27–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43477); File No. SR–Phlx–

00–84]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the

Philadelphia Stock Exchange, Inc.

Amending PHLX Rule 237 to Extend

the Pilot Program for eVWAP until

November 30, 2001

October 23, 2000.

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

September 1, 2000, the Philadelphia

Stock Exchange, Inc. (‘‘PHLX’’ or

‘‘Exchange’’), filed a proposed rule

change with the Securities and

Exchange Commission (‘‘SEC’’ or

‘‘Commission’’). The proposed rule

change is described in Items I, II, and III

below, which Items have been prepared

by Exchange. On October 18, 2000, the

Exchange filed Amendment No. 1 to the

proposed rule change.3 The Exchange

filed the proposed rule change, as

amended, pursuant to Section

19(b)(3)(A) of the Act,4 and Rule 19b–

4(f)(6) thereunder,5 which renders the

proposed rule change effective upon

filing with the Commission. The

Commission is publishing this notice to

solicit comments on the proposed rule

change, as amended, from interested

persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Exchange proposes to extend the

pilot program for the Volume Weighted

Average Price Trading System

(‘‘eVWAP’’ or ‘‘System’’) until

November 30, 2001.

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

Exchange 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

Exchange 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 eVWAP is a pre-opening order

matching session for the electronic

execution of large-sized stock orders at

the volume weighted average price. The

Exchange received Commission

approval to operate eVWAP as a one

year pilot on March 24, 1999.6 The

System became operational on August

27, 1999. As a condition to the pilot

program, the Commission requested that

the Exchange prepare a comprehensive

report pertaining to the operation and

effectiveness of the eVWAP.7

The Exchange now proposes to extend

the current pilot program until

November 30, 2001. Extension of the

pilot program for another year will

allow the Exchange and the Commission

additional time to assess the

effectiveness of the System and its

impact on investors and the market as

a whole.

2. Statutory Basis

The Exchange believes that the

proposed rule change is consistent with

Section 6(b)(5) of the Act 8 in that it is

designed to prevent fraudulent and

manipulative acts and practices, to

promote just and equitable principles of

trade, to remove impediments to and

perfect the mechanism of a free and

open market and a national market

system, and, in general, to protect

investors and the public interest.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange does not believe that

the proposed rule change, as amended,

will result in any burden on

competition that is not necessary or

appropriate in furtherance of the

purposes of the Act.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants or Others

The Exchange has neither solicited

nor received written comments on the

proposed rule change, as amended.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The foregoing rule change has become

effective upon filing pursuant to Section

19(b)(3)(A)(iii) of the Act 9 and Rule

19b–4(f)(6) 10 thereunder because the

proposed rule change does not (i)

significantly affect the protection of

investors or the public interest; (ii)

impose any significant burden on

competition; and (iii) become operative

for 30 days from the date on which the

proposed rule change was filed, or such

shorter time as the Commission may

designate. At any time within 60 days

Federal Register / Vol. 65, No. 210 / Monday, October 30, 2000 / Notices 64735

11For purposes only of accelerating the operative

date of this proposal, the Commission has

considered its impact on efficiency, competition,

and capital formation. 15 U.S.C. 78c(f). 12 17 CFR 200.30–3(a)(12).

of the filing of such proposed 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.

The Commission finds that it is

appropriate to accelerate the effective

date of the proposed rule change and to

permit the proposed rule change to

become immediately effective because

the proposal simply extends a

previously approved pilot program. By

extending the pilot program, the

Commission will enable the Exchange to

continue to offer the System without

interruption, and will allow the

Commission and the Exchange to

further assess the effectiveness of the

System and its impact on investors and

the market as a whole. In addition, the

Commission finds that the Exchange

provided the required prefiling written

notice of its intent to file this proposed

rule change when it filed the original

proposed rule change.11

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views and

arguments concerning the foregoing

including whether the proposed rule

change is consistent with the Act.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, NW,

Washington, DC 20549–0609. 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

Room. Copies of such filing will also be

available for inspection and copying at

the principal office of the Exchange. All

submissions should refer to File No.

SR–Phlx–00–84 and should be

submitted by November 20, 2000.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.12

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–27719 Filed 10–27–00; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

[Declaration of Disaster #3304]

State of Michigan

As a result of the President’s major

disaster declaration on October 17,

2000, I find that Wayne County,

Michigan constitutes a disaster area due

to damages caused by severe storms and

flooding that occurred September 10–

11, 2000. Applications for loans for

physical damage as a result of this

disaster may be filed until the close of

business on December 16, 2000 and for

economic injury until the close of

business on July 17, 2001, 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.

In addition, applications for economic

injury loans from small businesses

located in the contiguous counties of

Macomb, Monroe, Oakland, and

Washtenaw in the State of Michigan

may be filed until the specified date at

the above location.

The interest rates are:

Percent

For Physical Damage:

Homeowners with credit

available elsewhere ........... 7.375

Homeowners without credit

available elsewhere ........... 3.687

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 ........... 6.750

For Economic Injury:

Businesses and small agricultural cooperatives without

credit available elsewhere 4.000

The numbers assigned to this disaster

are 330406 for physical damage and

9J3400 for economic injury.

(Catalog of Federal Domestic Assistance

Program Nos. 59002 and 59008)

Dated: October 20, 2000.

Allan I. Hoberman,

Acting Associate Administrator for Disaster

Assistance.

[FR Doc. 00–27782 Filed 10–27–00; 8:45 am]

BILLING CODE 8025–01–P

SOCIAL SECURITY ADMINISTRATION

Agency Information Collection

Activities: Proposed Request and

Comment Request

In compliance with Public Law 104–

13, the Paperwork Reduction Act of

1995, SSA is providing notice of its

information collections that require

submission to the Office of Management

and Budget (OMB). SSA is soliciting

comments on the accuracy of the

agency’s burden estimate; the need for

the information; its practical utility;

ways to enhance its quality, utility and

clarity; and on ways to minimize burden

on respondents, including the use of

automated collection techniques or

other forms of information technology.

I. The information collections listed

below will be submitted to OMB within

60 days from the date of this notice.

Therefore, comments and

recommendations regarding the

information collections would be most

useful if received by the Agency within

60 days from the date of this

publication. Comments should be

directed to the SSA Reports Clearance

Officer at the address listed at the end

of this publication. You can obtain a

copy of the collection instruments by

calling the SSA Reports Clearance

Officer on (410) 965–4145, or by writing

to him at the address listed at the end

of this publication.

1. Child Relationship Statement—

0960–0116. The Social Security

Administration (SSA) uses the

information collected on Form SSA–

2519 to help determine the entitlement

of children to Social Security benefits

under section 216(h)(3) of the Social

Security Act (Deemed Child Provision).

The respondents are persons providing

information about the relationship

between the worker and his/her alleged

biological child, in connection with the

child’s application for benefits.

Number of Respondents: 50,000.

Frequency of Response: 1.

Average Burden Per Response: 15

minutes.

Estimated Annual Burden: 12,500

hours.

2. Request to Resolve Questionable

Quarters of Coverage (QC); Request for

QC History Based on Relationship—

0960–0575. Form SSA–512 is used by

the States to request clarification from