14716 Federal Register / Vol. 62, No. 59 / Thursday, March 27, 1997 / Notices

2See Securities Exchange Act Release No. 38113

(January 3, 1997), 62 FR 442 (January 9, 1997).

3 15 U.S.C. § 78f.

4 15 U.S.C. § 78(b)(5). 5 17 CFR 240.19b–4(e)(6). 6 17 CFR 200.30–3(a)(12).

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

On January 3, 1997, the Exchange

received approval to reduce the

minimum transaction size for opening

and closing transactions in customized

foreign currency options from 100

contracts to 50 contracts.2 In an

oversight, the Exchange unintentionally

did not make a conforming change to

the provision in subsection (i) of Rule

1069. That provision currently states

that ‘‘when exercising customized

options, the lesser of 100 contracts or

the remaining number of contracts must

be exercised and the exercise limits in

Rule 1002 will apply.’’ The minimum

exercise amount should also have been

reduced to 50 contracts. As the rule

currently is written, an investor who

only purchases 50 contracts and holds

them until expiration could exercise all

50 contracts pursuant to the ‘‘remaining

number of contracts’’ clause, however,

the Exchange did not intend to impose

a higher minimum exercise requirement

than the minimum trading requirement.

Accordingly, pursuant to this filing, the

Phlx proposes to reduce the minimum

exercise amount to the lesser of 50

contracts or the remaining number of

contracts in the holder’s position.

2. Statutory Basis

The proposed rule change is

consistent with Section 6 of the Act 3 in

general, and in particular, with Section

6(b)(5),4 in that it is designed to promote

just and equitable principles of trade,

prevent fraudulent and manipulative

acts and practices, facilitate transactions

in securities, remove impediments to

and perfect the mechanism of a free and

open market and a national market

system, and protect investors and the

public interest by imposing an exercise

minimum which is consistent with the

trading size minimums for the product.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The PHLX does not believe that the

proposed rule change will impose any

inappropriate burden on competition.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received from

Members, Participants, or Others

No written comments were either

solicited or received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Because the foregoing proposed rule

change: (1) does not significantly affect

the protection of investors or the public

interest; (2) does not impose any

significant burden on competition; and

(3) does not become operative for 30

days from March 11, 1997, the date on

which it was filed, and the Exchange

provided the Commission with written

notice of its intent to file the proposed

rule change at least five business days

prior to the filing date, the rule change

proposal has become effective pursuant

to Section 19(b)(3)(A) of the Act and

Rule 19b–4(e)(6) thereunder.5

At any time within 60 days of the

filing of the 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.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, NW,

Washington, DC 20549. 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

Section, 450 Fifth Street, NW,

Washington, DC 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the Phlx. All submissions

should refer to File No. SR–Phlx–97–08

and should be submitted by April 17,

1997.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.6

Jonathan G. Katz,

Secretary.

[FR Doc. 97–7783 Filed 3–26–97; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Intent To Rule on Application

To Use the Revenue From a Passenger

Facility Charge (PFC) at Palm Beach

International Airport, West Palm

Beach, Florida

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice of intent to rule on

application.

SUMMARY: The FAA proposes to rule and

invites public comment on the

application to use the revenue from a

PFC at Palm Beach International Airport

under the provisions of the Aviation

Safety and Capacity Expansion Act of

1990 (Title IX of the Omnibus Budget

Reconciliation Act of 1990) (Pub. L.

101–508) and Part 158 of the Federal

Aviation Regulations (14 CFR Part 158).

DATES: Comments must be received on

or before April 28, 1997.

ADDRESSES: Comments on this

application may be mailed or delivered

in triplicate to the FAA at the following

address: Orlando Airports District

Office, 5950 Hazeltine National Dr.,

Suite 400, Orlando Florida 32822.

In addition, one copy of any

comments submitted to the FAA must

be mailed or delivered to Mr. Bruce V.

Pelly, Director of Airports of the Palm

Beach County Department of Airports at

the following address: Palm Beach

International Airport, Building 846,

West Palm Beach, Florida 33406–1491.

Air carriers and foreign air carriers

may submit copies of written comments

previously provided to the Palm Beach

County Department of Airports under

section 158.23 of Part 158.

FOR FURTHER INFORMATION CONTACT:
Federal Register / Vol. 62, No. 59 / Thursday, March 27, 1997 / Notices 14717

Mr. Bart Vernace, Airport Plans &

Programs Manager, Orlando Airports

District Office, 5950 Hazeltine National

Dr., Suite 400, Orlando, Florida 32822,

407–812–6331. The application may be

reviewed in person at this same

location.

SUPPLEMENTARY INFORMATION: The FAA

proposes to rule and invites public

comment on the application to use the

revenue from a PFC at Palm Beach

International Airport under the

provisions of the Aviation Safety and

Capacity Expansion Act of 1990 (Title

IX of the Omnibus Budget

Reconciliation Act of 1990) (Public Law

101–508) and Part 158 of the Federal

Aviation Regulations (14 CFR Part 158).

On March 20, 1997, the FAA

determined that the application to use

the revenue from a PFC submitted by

Palm Beach County Department of

Aviation was substantially complete

within the requirements of section

158.25 of Part 158. The FAA will

approve or disapprove the application,

in whole or in part, no later than July

8, 1997.

The following is a brief overview of

PFC Application No. 97–03–U–00–PBI.

Level of the proposed PFC: $3.00.

Proposed charge effective date: July 1,

1997.

Proposed charge expiration date: May

1, 1999.

Total estimated PFC revenue:

$13,605,792.

Brief description of proposed

project(s): 97A Land Acquisition

(Noise); 97B Direct Connect to I–95; 98C

Land Acquisition (Noise); 99D Land

Acquisition (Noise); 99E Part 150 Study.

Class or classes of air carriers which

the public agency has requested not be

required to collect PFCs: Air Taxi and

Commercial Operators filing FAA Form

1800–31.

Any person may inspect the

application in person at the FAA office

listed above under FOR FURTHER

INFORMATION CONTACT.

In addition, any person may, upon

request, inspect the application, notice

and other documents germane to the

application in person at the Palm Beach

County Department of Airports.

Issued in Orlando, Florida on March 20,

1997.

Charles E. Blair,

Manager, Orlando Airports District Office,

Southern Region.

[FR Doc. 97–7824 Filed 3–26–97; 8:45 am]

BILLING CODE 4910–13–M

Federal Highway Administration

[FHWA Docket No. MC–97–13]

Development of a Directory of Offerors

of Truck and Bus Brake Mechanic

Training Courses and Materials

AGENCY: Federal Highway

Administration (FHWA), DOT.

ACTION: Notice; request for information.

SUMMARY: The FHWA is requesting

information from companies and

organizations that offer, to the motor

carrier industry, training courses and

training material concerning the

maintenance of heavy truck and bus

brake systems. The information will be

used to develop a brake training

resources directory to assist motor

carriers in identifying companies or

organizations that provide personal

training and/or training materials that

could be useful in helping motor

carriers improve their brake

maintenance programs. The directory

will not serve as an endorsement or

approval by the FHWA of the

companies and organizations listed

therein. The directory would be

intended only to provide motor carriers

with a detailed listing of all known

offerors of brake training information,

and brief descriptions of the courses or

products and services that are available.

This action is being taken to help motor

carriers reduce the incidence of brakerelated violations of the Federal Motor

Carrier Safety Regulations, thereby

improving safety on the Nation’s

highways.

DATES: Written comments must be

received on or before May 27, 1997.

ADDRESSES: Submit written, signed

comments to FHWA Docket No. MC–

97–13, room 4232, HCC–10, Office of

the Chief Counsel, Federal Highway

Administration, 400 Seventh Street,

SW., Washington, D.C. 20590. All

comments received will be available for

examination at the above address from

8:30 a.m. to 3:30 p.m., e.t., Monday

through Friday, except Federal holidays.

Those desiring notification of receipt of

comments must include a selfaddressed, stamped postcard.

FOR FURTHER INFORMATION CONTACT: Mr.

Larry W. Minor, Office of Motor Carrier

Research and Standards, (202) 366–

4009; or Mr. Charles E. Medalen, Office

of Chief Counsel, (202) 366–1354,

Federal Highway Administration, 400

Seventh Street, SW., Washington, D.C.

20590. Office hours are from 7:45 a.m.

to 4:15 p.m., e.t., Monday through

Friday, except Federal holidays.

SUPPLEMENTARY INFORMATION:

Background

The Conference Committee report on

the 1993 Department of Transportation

Appropriations Act (Pub. L. 102–388,

October 6, 1992) directed the FHWA to

follow the instructions of the House

report in obligating certain research

funds, including funding research on

means to improve the training of heavy

truck brake mechanics. H.R. Conf. Rep.

No. 102–924, at 35 (1992). The House

report on the appropriations bill stated

that ‘‘the Committee believes the

Federal Highway Administration should

use the expertise available at the

Trucking Research Institute for safety

and research activities related to

commercial motor vehicles.’’ H.R. Rep.

No. 102–639, at 85–86 (1992). The

House report specifically recommended

that the FHWA enter into a contract or

cooperative agreement with the

Trucking Research Institute (TRI) to

study methods of improving the training

of heavy truck brake mechanics. The

TRI is a non-profit organization created

by the American Trucking Associations

Foundation, Inc.

The FHWA entered into a multi-task

contract with the TRI covering several

research subjects including brake

mechanic training. The brake mechanic

training portion of the research program

was structured in two phases. Phase 1

covered problem identification, a review

of data available from the FHWA’s

Motor Carrier Management Information

System (MCMIS), carrier surveys, and

discussion with industry experts. Phase

2 is being used for follow-up activities

to resolve problems identified in Phase

1.

Recommendations Presented in the

Phase I Report

The TRI submitted its final report on

Phase 1 (‘‘Commercial Vehicle Brake

Violations in Roadside Inspections’’) to

the FHWA on June 2, 1995. A copy of

the report for Phase I has been placed

in the docket. The final report included

the following recommendations to the

FHWA and the motor carrier industry:

1. Motor carriers must accept the

ultimate responsibility for the

maintenance of their vehicles.

2. A vehicle demonstration program,

incorporating the best current

technology to provide a nearly

maintenance-free brake system, should

be developed to encourage the industry

to produce and accept automatic slack

adjusters, long-stroke chambers, and

low-deflection components.

3. Brake suppliers and/or vehicle

OEMs should develop and market a