27780 Federal Register / Vol. 63, No. 97 /Wednesday, May 20, 1998 / Notices

2As noted above, a member who wishes to act as

a market maker and as a floor broker on the same

business day is subject to the restrictions of CBOE

Rule 8.8. See note 1, supra.

3A member (or the Exchange) providing

authorization under CBOE Rule 3.8(a)(4)(C) may

specify the capacity in which the nominee may act

(ie., the nominee may be authorized to act solely as

a floor broker, solely as market maker, or in both

capacities), Telephone conversation between Arthur

B. Reinstein, Assistant General Counsel, CBOE, and

Yvonne Fraticelli, Attorney, Division of Market

Regulation, Commission, on May 8, 1998.

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

5 17 CFR 240.19b–4(e)(1).

6 In reviewing this proposal, the Commission has

considered the proposal’s impact on efficiency,

competition, and capital formation. 15 U.S.C. 78c(f). 7 17 CFR 200.30–3(a)(12).

to trade for his/her own account

pursuant to CBOE Rule 3.8(a)(4)(C)

means authorization of the nominee to

trade as an independent market maker

and/or as an independent floor broker.2

Accordingly, the proposal amends

CBOE Rule 3.8 by replacing the

references to trading by a nominee for

his/her own account with references to

trading by a nominee as an independent

market maker and/or as an independent

floor broker.

According to the CBOE, this

clarification is consistent with the

manner in which the CBOE departments

that have administered CBOE Rule

3.8(a)(4)(C) have interpreted the rule

and is intended to eliminate any

potential ambiguity as to whether CBOE

Rule 3.8(a)(4)(C) only authorizes a

nominee to act as an independent

market maker.3 Additionally, the CBOE

believes that, as a matter or regulatory

policy, there is no reason to distinguish

between a nominee acting as an

independent market maker and a

nominee acting as an independent floor

broker given that, in either instance, the

nominee must have prior written

authorization to do so from both the

nominee’s member organization and

from the Exchange, the nominee must

be a registered broker-dealer, and the

nominee’s transactions will be

guaranteed by the nominee’s member

organization.

The proposed rule change also

replaces the references in CBOE Rule

3.8(a)(4)(C) to the CBOE’s Market

Surveillance Department with a

reference to the Exchange. The reason

for this change is twofold. First, the

CBOE’s Market Surveillance Department

recently was combined into the CBOE’s

Department of Market Regulation.

Second, the Exchange body or bodies

that grant approvals under CBOE Rule

3.8(a)(4)(C) may change over time.

Currently, Exchange approval under

CBOE Rule 3.8(a)(4)(C) is required from

both the CBOE’s Department of Market

Regulation and the CBOE’s Membership

Committee.

Finally, the CBOE notes that all of the

provisions in paragraphs (a)(2), (a)(3),

and (a)(4) of CBOE Rule 3.8 which are

applicable to nominees are also

applicable to a person who has

registered his or her membership for a

member organization because, under

Section 2.4 of the CBOE Constitution

(‘‘Registration of Individual

Memberships for Member

Organizations’’) such a person

represents a member organization is lieu

of a nominee. Therefore, the

requirements of CBOE Rule 3.8(a)(4)(C)

also are applicable to a person who has

registered his or her membership for a

member organization and desires to also

act as an independent market maker

and/or as an independent floor broker.

The Exchange believes that the

proposed rule change is consistent with

Section 6(b) of the Act, in general, and

furthers the objectives of Section 6(b)(5),

in particular, in that the proposed

change will clarify the Exchange’s rules

and is thus designed to remove

impediments to and perfect the

mechanism of a free and open market.

(B) Self-Regulatory Organization’s

Statement on Burden on Competition

The CBOE does not believe that the

proposed rule change will impose any

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 solicited

or received with respect to the proposed

rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Because the foregoing rule change

constitutes a stated policy, practice, or

interpretation with respect to the

meaning, administration, or

enforcement of an existing rule of the

Exchange, it has become effective

pursuant to Section 19(b)(3)(A) of the

Act 4 and subparagraph (e)(1) of Rule

19b–4 thereunder.5 At any time within

60 days 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.6

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views and

arguments concerning the foregoing,

including whether it is consistent with

the Act. Persons making written

submissions should file six copies

thereof with the Secretary, Securities

and Exchange Commission, 450 Fifth

Street, N.W., Washington, D.C., 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 that

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 at

the Commission’s Public Reference

Section, 450 Fifth Street, N.W.,

Washington, D.C. Copies of such filing

will also be available for inspection and

copying at the principal office of the

CBOE. All submissions should refer to

File No. SR–CBOE–98–19 and should be

submitted by June 10, 1998.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.7

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–13383 Filed 5–19–98; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

Data Collection Available for Public

Comments and Recommendations

ACTION: Notice and request for

comments.

SUMMARY: In accordance with the

Paperwork Reduction Act of 1995, this

notice announces the Small Business

Administration’s intentions to request

approval on a new, and/or currently

approved information collection.

DATES: Comments should be submitted

on or before July 20, 1998.

FOR FURTHER INFORMATION CONTACT:

Curtis B. Rich, Management Analyst,

Small Business Administration, 409 3rd

Street, S.W., Suite 5000, Washington,

D.C. 20416. Phone Number: 202–205–

6629.

SUPPLEMENTARY INFORMATION:

Title: ‘‘Servicing Agent Agreement’’.

Type of Request: New Request.

Form No: 1506.

Description of Respondents: Persons

filling out Servicing Agent Agreement

and Certified Development Companies.

Annual Responses: 4,800.

Annual Burden: 800.
Federal Register / Vol. 63, No. 97 /Wednesday, May 20, 1998 / Notices 27781

Comments: Send all comments

regarding this information collection to

Gail Hepler, Financial Analyst, Office of

Financial Assistance, Small Business

Administration, 409 3rd Street, S.W.,

Suite 8300, Washington, D.C. 20416.

Phone No: 202–205–7530. Send

comments regarding whether this

information collection is necessary for

the proper performance of the function

of the agency, accuracy of burden

estimate, in addition to ways to

minimize this estimate, and ways to

enhance the quality.

Dated: May 8, 1998.

Jacqueline White,

Chief, Administrative Information Branch.

[FR Doc. 98–13341 Filed 5–19–98; 8:45 am]

BILLING CODE 8025–01–M

DEPARTMENT OF STATE

Bureau of Political-Military Affairs

[Public Notice 2825]

Revocation of Munitions Exports

Licenses and Other Approvals for India

AGENCY: Department of State.

ACTION: Notice.

SUMMARY: Notice is hereby given that all

licenses and other approvals to export

or otherwise transfer defense articles

and defense services from the United

States to India, or transfer U.S. origin

defense articles and defense services

from a foreign destination to India, or

temporarily import defense articles from

India pursuant to Section 38 of the

Arms Export Control Act are revoked

immediately.

EFFECTIVE: May 13, 1998.

FOR FURTHER INFORMATION CONTACT: Rose

Biancaniello, Deputy Director,

Department of State, Office of Defense

Trade Controls, Department of State,

703–812–2568.

SUPPLEMENTARY INFORMATION: On May

13, 1998, the President determined

pursuant to Section 102 of the Arms

Export Control Act (22 U.S.C. 2779aa–

1) (‘‘the Glenn Amendment’’) that India

a non-nuclear weapons state, detonated

nuclear explosive devices on May 11,

1998, and directed the relevant United

States Government agencies—and

instrumentalities to take the necessary

actions to impose the sanctions

described in Section 102(b)(2) of that

Act. That provision of law provides for

the determination to India of sales of

defense articles, defense services, or

design and construction services under

the Arms Export Control Act, and

termination of licenses for the export of

any item on the United States Munitions

List (USML). Consistent with such law

and in furtherance of the foreign policy

interests of the United States, the

Department of State, through

publication of this notice, is revoking all

licenses and other approvals for the

permanent and temporary export and

temporary import of defense articles and

defense services to or from India and

will deny all applications and other

requests for approval to export or

otherwise transfer or retransfer defense

articles and defense services to India.

This revocation order includes all types

of licenses/authorizations;

manufacturing, technical assistance and

distribution agreements; the use of any

exemption in the International Traffic in

Arms Regulations (ITAR); and, any

authorization to retransfer from a

foreign destination. This order also

extends to the activities and

authorizations concerning brokering

covered by Part 129 of the ITAR.

Therefore, in accordance with Section

123.21 of the ITAR, licenses must be

returned immediately to the Department

of State, Office of Defense Trade

Controls.

Dated: May 15, 1998.

Eric D. Newsom,

Acting Assistant Secretary for PoliticalMilitary Affairs.

[FR Doc. 98–13570 Filed 5–19–98; 8:45 am]

BILLING CODE 4710–25–M

OFFICE OF THE UNITED STATES

TRADE REPRESENTATIVE

Allocation of the 200,000 Metric Ton

Increase in the Amount Available

Under the Raw Cane Sugar Tariff-rate

Quota

AGENCY: Office of the United States

Trade Representative.

ACTION: Notice.

SUMMARY: The Office of the United

States Trade Representative (USTR) is

providing notice of the allocation among

supplying countries and customs areas

for the 200,000 metric ton increase in

the amount available under the current

raw cane sugar tariff-rate quota triggered

by the fact that the stocks to use ratio

for sugar reported in the U.S.

Department of Agriculture’s World

Agricultural Supply and Demand

Estimates on May 12, 1998, was 14.2

percent.

EFFECTIVE DATE: May 20, 1998.

ADDRESSES: Inquiries may be mailed or

delivered to Elizabeth Jones, Economist,

Office of Agricultural Affairs (Room

415), Office of the United States Trade

Representative, 600 17th Street, NW,

Washington, DC 20508.

FOR FURTHER INFORMATION CONTACT:

Elizabeth Jones, Office of Agricultural

Affairs, 202–395–6127.

SUPPLEMENTARY INFORMATION: Pursuant

to Additional U.S. Note 5 to chapter 17

of the Harmonized Tariff Schedule of

the United States (HTS), the United

States maintains a tariff-rate quota for

imports of raw cane sugar. On

September 17, 1997, the Secretary of

Agriculture announced the in-quota

quantity for the tariff-rate quota for raw

cane sugar for the period October 1,

1997–September 30, 1998, and

announced an administrative plan

under which the quantity available

would be increased by 200,000 metric

tons, raw value, if the stocks-to-use ratio

reported in the May 1998 U.S.

Department of Agriculture’s World

Agricultural Supply and Demand

Estimates (WASDE) is less than or equal

to 15.5 percent. On May 12, 1998, the

WASDE reported a stocks to use ratio of

14.2 percent, thereby triggering a

200,000 metric ton increase in the

quantity available under the tariff-rate

quota.

Section 404(d)(3) of the Uruguay

Round Agreements Act (19 U.S.C.

3601(d)(3)) authorizes the President to

allocate the in-quota quantity of a tariffrate quota for any agricultural product

among supplying countries or customs

areas. The President delegated this

authority to the United States Trade

Representative under paragraph (3) of

Presidential Proclamation No. 6763 (60

FR 1007). Additional U.S. Note 5(b)(i) to

chapter 17 of the HTS also provides that

the quota amounts established under

that note may be allocated among

supply countries and areas by the

United States Trade Representative.

Raw cane sugar allocation

Accordingly, USTR is allocating the

200,000 metric ton increase in the

amount available under the raw can

sugar tariff-rate quota to the following

countries or areas in metric tons, raw

value. This allocation is based on the

countries’ historical trade to the United

States: