1000 Federal Register / Vol. 87, No. 5 / Friday, January 7, 2022 / Notices 

interval between the date of purchase of 

the Shares and the valuation date with 

respect to the repurchase of such Shares 

is less than a specified period. Any 

Repurchase Fee will apply equally to all 

shareholders of the applicable Fund, 

regardless of class, consistent with 

Section 18 of the Act and Rule 18f–3 

under the Act. To the extent a Fund 

determines to waive, impose scheduled 

variations of, or eliminate any 

Repurchase Fees, it will do so 

consistently with the requirements of 

Rule 22d–1 under the Act as if the 

Repurchase Fee were a CDSC and as if 

the Fund were an open-end investment 

company and the Fund’s waiver of, 

scheduled variation in, or elimination 

of, the Repurchase Fee will apply 

uniformly to all shareholders of the 

Fund. 

Applicants’ Legal Analysis 

Multiple Classes of Shares 

1. Section 18(a)(2) of the Act provides 

that a closed-end investment company 

may not issue or sell a senior security 

that is a stock unless certain 

requirements are met. Applicants state 

that the creation of multiple classes of 

shares of the Funds may violate Section 

18(a)(2), which is made applicable to 

BDCs through Section 61(a) of the Act, 

because the Funds may not meet such 

requirements with respect to a class of 

shares that may be a senior security. 

2. Section 18(c) of the Act provides, 

in relevant part, that a closed-end 

investment company may not issue or 

sell any senior security if, immediately 

thereafter, the company has outstanding 

more than one class of senior security. 

Applicants state that the creation of 

multiple classes of Shares of the Funds 

may be prohibited by Section 18(c), 

which is made applicable to BDCs 

through Section 61(a) of the Act, as a 

class may have priority over another 

class as to payment of dividends 

because shareholders of different classes 

would pay different fees and expenses. 

3. Section 18(i) of the Act provides 

that each share of stock issued by a 

registered management investment 

company will be a voting stock and 

have equal voting rights with every 

other outstanding voting stock. 

Applicants state that multiple classes of 

shares of the Funds may violate Section 

18(i) of the Act, which is made 

applicable to BDCs through Section 

61(a) of the Act, because each class 

would be entitled to exclusive voting 

rights with respect to matters solely 

related to that class. 

4. Section 6(c) of the Act provides that 

the Commission may exempt any 

person, security or transaction or any 

class or classes of persons, securities or 

transactions from any provision of the 

Act, or from any rule or regulation 

under the Act, if and to the extent such 

exemption is necessary or 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. Applicants 

request an exemption under Section 6(c) 

from Sections 18(a)(2), 18(c) and 18(i) 

(which are made applicable to BDCs by 

Section 61(a) of the Act) to permit the 

Funds to issue multiple classes of 

Shares. 

5. Applicants submit that the 

proposed allocation of expenses relating 

to distribution and voting rights among 

multiple classes is equitable and will 

not discriminate against any group or 

class of shareholders. Applicants submit 

that the proposed arrangements would 

permit a Fund to facilitate the 

distribution of its Shares and provide 

investors with a broader choice of fee 

options. Applicants assert that the 

proposed BDC multiple class structure 

does not raise the concerns underlying 

Section 18 of the Act to any greater 

degree than open-end management 

investment companies’ multiple class 

structures that are permitted by Rule 

18f–3 under the Act. 

Applicants’ Condition 

Applicants agree that any order 

granting the requested relief will be 

subject to the following condition: 

1. Each Fund will comply with the 

provisions of Rules 6c–10 (except to the 

extent a Fund will comply with FINRA 

Rule 2310 rather than FINRA Rule 

2341), 12b–1, 17d–3, 18f–3, 22d–1, and, 

where applicable, 11a–3 under the 1940 

Act, as amended from time to time, or 

any successor rules thereto, as if those 

rules applied to BDCs. In addition, each 

Fund will comply with FINRA Rule 

2310, as amended from time to time, or 

any successor rule thereto, and will 

make available to any distributor of a 

Fund’s shares all of the information 

necessary to permit the distributor to 

prepare client account statements in 

compliance with FINRA Rule 2231. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00065 Filed 1–6–22; 8:45 am] 

BILLING CODE 8011–01–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. FD 36573] 

Western Nevada Railroad, LLC—Lease 

and Operation Exemption—Line in 

Churchill County, Nev. 

Western Nevada Railroad, LLC 

(WNRR), a noncarrier, has filed a 

verified notice of exemption under 49 

CFR 1150.31 to enter into an agreement 

to lease and operate 4,100 feet of 

existing track at the Fernley Business 

Park (FBP) at or near Fernley/Darwin, 

Churchill County, Nev. (the Line). 

WNRR states that the Line connects to 

a rail line owned by Union Pacific 

Railroad Company (UP), over which 

BNSF Railway Company (BNSF) also 

has service rights. According to WNRR, 

the Line is currently private industry 

track that is served by UP and BNSF 

with switching service provided by a 

third-party contract switching operator, 

Western Nevada Transload, LLC (WNT). 

WNRR states that it will enter into a 

lease and operating agreement for the 

Line with Fernley Business Park, LLC, 

the owner of FBP. WNRR states that it 

will also obtain the right to construct 

additional industrial tracks in FBP to 

attract additional customers and rail 

business, and that WNT will continue to 

provide contract switching service on 

the Line until the buildout is complete 

and additional rail-served industries 

locate at FBP. 

WNRR states that no interchange 

commitments are being imposed on its 

operations by the lease and operating 

agreement. WNRR certifies that its 

projected revenues as a result of the 

transaction will not exceed those that 

would qualify it as a Class III carrier and 

will not exceed $5 million. 

The transaction may be consummated 

on or after January 21, 2022, the 

effective date of the exemption (30 days 

after the verified notice was filed). 

If the verified notice contains false or 

misleading information, the exemption 

is void ab initio. Petitions to revoke the 

exemption under 49 U.S.C. 10502(d) 

may be filed at any time. The filing of 

a petition to revoke will not 

automatically stay the effectiveness of 

the exemption. Petitions for stay must 

be filed no later than January 14, 2022 

(at least seven days before the 

exemption becomes effective). 

All pleadings, referring to Docket No. 

FD 36573, should be filed with the 

Surface Transportation Board via efiling on the Board’s website. In 

addition, a copy of each pleading must 

be served on WNRR’s representative, 

Eric M. Hocky, Clark Hill PLC, Two 

Commerce Square, 2001 Market Street, 

Suite 2620, Philadelphia, PA 19103. 


tkelley on DSK125TN23PROD with NOTICE 
Federal Register / Vol. 87, No. 5 / Friday, January 7, 2022 / Notices 1001 

According to WNRR, this action is 

categorically excluded from 

environmental review under 49 CFR 

1105.6(c) and from historic reporting 

requirements under 49 CFR 1105.8(b). 

Board decisions and notices are 

available at www.stb.gov. 

Decided: December 30, 2021. 

By the Board, Scott M. Zimmerman, Acting 

Director, Office of Proceedings. 

Kenyatta Clay, 

Clearance Clerk. 

[FR Doc. 2022–00069 Filed 1–6–22; 8:45 am] 

BILLING CODE 4915–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

Membership in the National Parks 

Overflights Advisory Group 

AGENCY: Federal Aviation 

Administration, (FAA), DOT. 

ACTION: Solicitation of applications. 

SUMMARY: The Federal Aviation 

Administration (FAA) and the National 

Park Service (NPS) invite interested 

persons to apply to fill one current and 

two upcoming vacancies on the 

National Parks Overflights Advisory 

Group (NPOAG). This notice invites 

interested persons to apply for the 

openings. The current opening is for a 

representative of Native American 

tribes. The upcoming openings are for 

another representative of Native 

American tribes and a representative of 

general aviation concerns. 

DATES: Persons interested in these 

membership openings will need to 

apply by February 7, 2022. 

FOR FURTHER INFORMATION CONTACT: 

Keith Lusk, Special Programs Staff, 

Federal Aviation Administration, 

Western-Pacific Region Headquarters, 

777 S Aviation Boulevard, Suite 150, El 

Segundo, CA 90245, telephone: (424) 

405–7017, email: Keith.Lusk@faa.gov. 

SUPPLEMENTARY INFORMATION: 

Background 

The National Parks Air Tour 

Management Act of 2000 (the Act) was 

enacted on April 5, 2000, as Public Law 

106–181, and subsequently amended in 

the FAA Modernization and Reform Act 

of 2012. The Act required the 

establishment of the advisory group 

within one year after its enactment. The 

NPOAG was established in March 2001. 

The advisory group is comprised of 

representatives of general aviation, 

commercial air tour operators, 

environmental concerns, and Native 

American tribes. The Administrator of 

the FAA and the Director of NPS (or 

their designees) serve as ex officio 

members of the group. Representatives 

of the Administrator and Director serve 

alternating 1-year terms as chairman of 

the advisory group. 

In accordance with the Act, the 

advisory group provides ‘‘advice, 

information, and recommendations to 

the Administrator and the Director— 

(1) On the implementation of this title 

[the Act] and the amendments made by 

this title; 

(2) On commonly accepted quiet 

aircraft technology for use in 

commercial air tour operations over a 

national park or tribal lands, which will 

receive preferential treatment in a given 

air tour management plan; 

(3) On other measures that might be 

taken to accommodate the interests of 

visitors to national parks; and 

(4) At the request of the Administrator 

and the Director, safety, environmental, 

and other issues related to commercial 

air tour operations over a national park 

or tribal lands.’’ 

Membership 

The current NPOAG is made up of 

one member representing general 

aviation, three members representing 

the commercial air tour industry, four 

members representing environmental 

concerns, and two members 

representing Native American tribes. 

Members serve three year terms. Current 

members of the NPOAG are as follows: 

Melissa Rudinger representing general 

aviation; Eric Lincoln, James Viola, and 

John Becker representing commercial air 

tour operators; Robert Randall, Dick 

Hingson, Les Blomberg, and John 

Eastman representing environmental 

interests; and Carl Slater representing 

Native American tribes, with one 

current opening. The three-year term of 

Mr. Slater expires on February 18, 2022 

and the three-year term of Ms. Rudinger 

expires on April 3, 2022. 

Selections 

In order to retain balance within the 

NPOAG, the FAA and NPS are seeking 

candidates interested in filling the one 

current vacant seat and one upcoming 

opening representing Native American 

tribes and the one upcoming seat 

representing general aviation concerns. 

The FAA and NPS invite persons 

interested in these openings on the 

NPOAG to contact Mr. Keith Lusk 

(contact information is written above in 

FOR FURTHER INFORMATION CONTACT). 

Requests to serve on the NPOAG must 

be made to Mr. Lusk in writing and 

postmarked or emailed on or before 

February 7, 2022. Any request to fill one 

of these seats must describe the 

requestor’s affiliation with general 

aviation or federally-recognized Native 

American tribes, as appropriate. The 

request should also explain what 

expertise the requestor would bring to 

the NPOAG as related to issues and 

concerns with aircraft flights over 

national parks or tribal lands. The term 

of service for NPOAG members is 3 

years. Members may re-apply for 

another term. 

On August 13, 2014, the Office of 

Management and Budget issued revised 

guidance regarding the prohibition 

against appointing or not reappointing 

federally registered lobbyists to serve on 

advisory committees (79 FR 47482). 

Therefore, before appointing an 

applicant to serve on the NPOAG, the 

FAA and NPS will require the 

prospective candidate to certify that 

they are not a federally registered 

lobbyist. 

Issued in El Segundo, CA, on January 4, 

2022. 

Keith Lusk, 

Program Manager, Special Programs Staff, 

Western-Pacific Region. 

[FR Doc. 2022–00098 Filed 1–6–22; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Motor Carrier Safety 

Administration 

[Docket No. FMCSA–2022–0002] 

Agency Information Collection 

Activities; Emergency Approval of a 

New Information Collection Request: 

Apprenticeship Pilot Program 

AGENCY: Federal Motor Carrier Safety 

Administration (FMCSA), Department 

of Transportation (DOT). 

ACTION: Notice of request for emergency 

OMB approval. 

SUMMARY: In compliance with the 

Paperwork Reduction Act (PRA) of 

1995, this notice announces that the 

new Information Collection Request 

(ICR) discussed below has been 

forwarded to the Office of Management 

and Budget (OMB) for review and 

emergency approval. FMCSA requests 

that OMB approve this collection by 

January 13, 2021. 

DATES: Comments must be submitted on 

or before January 12, 2022. 

ADDRESSES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within by January 12, 2022 to 

www.reginfo.gov/public/do/PRAMain. 

All comments received are part of the 

public record. Comments will generally 


tkelley on DSK125TN23PROD with NOTICE