16080 Federal Register / Vol. 62, No. 65 / Friday, April 4, 1997 / Rules and Regulations

1Pursuant to the Reg. Flex. Act, 5 U.S.C. § 601(3),

the Commission has adopted appropriate

definitions of ‘‘small business’’ for purposes of the

Reg. Flex. Act. See 17 CFR 270.0–10, 275.0–7,

240.0–10, 230.157, 250.110, and 260.0–7. The

Commission recently proposed amendments to

certain of these definitions. Definitions of ‘‘Small

Business’’ or ‘‘Small Organization’’ Under the

Investment Company Act of 1940, the Investment

Advisers Act of 1940, the Securities Exchange Act

of 1934, and the Securities Act of 1933, Securities

Act Rel. No. 7383, 62 FR 4106 (Jan. 28, 1997). The

Commission extended the comment period for the

proposed amendments to April 30, 1997, 62 FR

13356 (Mar. 20, 1997). Based on an analysis of the

language and legislative history of the Reg. Flex.

Act, Congress does not appear to have intended that

Act to apply to natural persons (as opposed to

individual proprietorships) or to foreign entities.

The Commission understands that staff at the Small

Business Administration have taken the same

position.

2At present, this threshold is $5 million. Thus,

non-regulated entities, such as general partnerships,

privately held corporations or professional service

organizations, with assets of $5 million or less may

qualify for penalty-reduction.

business or small organization as

defined by Commission rules adopted

for the purpose of compliance with the

Regulatory Flexibility Act.1 An entity

not included in these definitions will be

considered ‘‘small’’ for purposes of this

policy if it meets the total asset amount

that applies to issuers as set forth in

§ 230.157a of this chapter.2

(b) This policy does not create a right

or remedy for any person. This policy

shall not apply to any remedy that may

be sought by the Commission other than

civil money penalties, whether or not

such other remedy may be characterized

as penal or remedial.

Dated: March 27, 1997.

By the Commission.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–8360 Filed 4–3–97; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Coast Guard

33 CFR Part 165

[COTP Mobile, AL 97–005]

RIN 2115–AA97

Safety Zone Regulations: Pelican

Passage Dauphin Island, AL

AGENCY: Coast Guard, DOT.

ACTION: Temporary rule.

SUMMARY: The Coast Guard is

establishing a safety zone for Pelican

Passage extending 1⁄2 mile south and 3⁄4

mile east and west of Dauphin Island

Pier, Dauphin Island, Alabama.

The zone is needed to protect

personnel and property associated with

the Dauphin Island Spring Festival

Acrobatic airshow, Dauphin Island,

Alabama. Entry into this zone is

prohibited unless authorized by the

Captain of the Port.

DATES: This regulation is effective from

3 p.m. to 4 p.m. on April 5, 1997.

FOR FURTHER INFORMATION CONTACT:

LTJG H. Elena McCullough, (334) 441–

5286, 150 North Royal Street, Mobile,

AL 36652–2924.

SUPPLEMENTARY INFORMATION: In

accordance with 5 U.S.C. 553, a notice

of proposed rule making was not

published for this regulation and good

cause exists for making it effective in

less than 30 days after Federal Register

publication. Publishing an NPRM and

delaying its effective date would be

contrary to the public interest since

immediate action is needed to prevent

damage to the vessels involved.

Background and Purpose

The event requiring this regulation

will begin at 3 p.m. on April 5, 1997.

The Town of Dauphin Island will be

sponsoring an airshow, with low level

acrobatics, in the Pelican Passage

extending 1⁄2 mile south and 3⁄4 mile

east and west of Dauphin Island Pier,

Dauphin Island, Alabama, bounded by

the previously listed coordinates. The

airshow will terminate at 4 p.m. on

April 5, 1997. This regulation is issued

pursuant to 33 U.S.C. 1231 as set out in

the authority citation for all of Part 165.

The safety zone in bounded by 30–15N,

088–08.2W; 30–14N, 088–08.2W; 30–

13.5N, 088–06.5N; and 30–14.5N, 088–

06.5W.

Regulatory Evaluation

This temporary rule is not a

significant regulatory evaluation under

Executive Order 12866 and is not

significant under the ‘‘Department of

Transportation Regulatory Policies and

Procedures’’ (44 FR 11040; February 26,

1979). The Coast Guard expects the

economic impact of this rule to be so

minimal that a full regulatory evaluation

is unnecessary. This regulation will

only be in effect for a short period of

time, and the impacts on routine

navigation are expected to be minimal.

Collection of Information

This rule contains no collection of

information requirements under the

Paperwork Reduction Act (44 U.S.C.

3501 et seq.).

Federalism

The Coast Guard has analyzed this

rule under the principles and criteria

contained in Executive Order 12612 and

has determined that it does not have

sufficient federalism implications to

warrant the preparation of a Federalism

Assessment.

Environment

The Coast Guard considered the

environmental impact of this proposal

and concluded that under section 2.B.2.

of Commandant Instruction M16475.1

(series), this proposal is categorically

excluded from further environmental

documentation. A Categorical Exclusion

Determination is available by contacting

Commander (mps), Eight Coast Guard

District, 501 Magazine Street, New

Orleans, LA 70130–3396.

List of Subjects in 33 CFR Part 165

Marine safety, Waterways.

Regulation

For the reasons set out in the

preamble, 33 CFR 165 is amended as

follows:

PART 165—[AMENDED]

1. The authority citation for part 165

continues to read as follows:

Authority: 33 U.S.C. 1231; 50 U.S.C. 191;

33 CFR 1.05–1(g), 6.04–1, 6.04–6, and 160.5;

49 CFR 1.46.

2. Section 165.T08–009 is added to

read as follows:

§ 165.T08.009 Safety Zone: Pelican

Passage, Dauphin Island, AL.

(a) Location. The following area is a

safety zone: Pelican Passage extending

1⁄2 mile south and 3⁄4 mile east and west

of Dauphin Island Pier, Dauphin Island,

Alabama. The zone is needed to protect

personnel and property associated with

the Town of Dauphin Island will be

sponsoring an airshow, with low level

acrobatics.

(b) Effective date: This section is

effective from 3 p.m. to 4 p.m. on April

5, 1997, unless terminated sooner by the

Captain of the Port.

(c) Regulations: In accordance with

the general regulations in § 165.23 of

this part, entry into this zone is

prohibited unless authorized by the

Captain of the Port.

Dated: March 14, 1997.

S.E. Hartley,

Commander, U.S. Coast Guard, Captain of

the Port, Acting.

[FR Doc. 97–8504 Filed 4–3–97; 8:45 am]

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