3178 Federal Register / Vol. 63, No. 13 / Wednesday, January 21, 1998 / Notices

7. When a Sub-adviser change is

proposed when the Portfolio has an

Affiliated Sub-adviser, the Portfolio’s

Board, including a majority of the

Independent Trustees, will make a

separate finding reflected in its minutes,

that such change is in the best interest

of the Portfolio and its investors and

does not involve a conflict of interest

from which RMA, Sector, or the

Affiliated Sub-adviser derives an

inappropriate advantage.

8. RMA will provide general

management services to the Portfolio,

subject to Portfolio Board review. Sector

will, subject to Portfolio Board review

and approval, (i) together with RMA, set

the Portfolio’s overall investment

strategies, (ii) select Sub-advisers, (iii)

allocate and, when appropriate,

reallocate the Portfolio’s assets among

Sub-advisers, (iv) monitor and evaluate

Sub-adviser performances, and (v)

supervise Sub-adviser compliance with

the Portfolio’s investment objective,

policies, and restrictions.

9. Independent counsel

knowledgeable about the Act and the

duties of Independent Trustees will be

retained to represent the Independent

Trustees. The selection of such counsel

will be placed within the discretion of

the Independent Trustees.

10. Sector will provide the Portfolio’s

Board no less frequently than quarterly

with information about Sector’s

profitability for each series of the

Portfolio relying on the relief requested

in the application. Whenever a Subadviser is hired or terminated, Sector

will provide the Portfolio’s Board with

information showing the expected

impact on Sector’s profitability, and

quarterly reports will reflect the impact

on profitability of the hiring or

termination of Sub-advisers during the

quarter.

11. No director, trustee, or officer of

Sector, RMA, or the Portfolio will own

directly or indirectly (other than

through a pooled investment vehicle

over which such person does not have

control) any interest in a Sub-adviser

except for: (a) Ownership of interests in

RMA or Sector or any entity that

controls, is controlled by, or is under

common control with RMA or Sector; or

(b) ownership of less than 1% of the

outstanding securities of any class of

equity or debt of a publicly traded

company that is either a Sub-adviser or

an entity that controls, is controlled by,

or is under common control with a Subadviser.

For the SEC, by the Division of Investment

Management, pursuant to delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–1347 Filed 1–20–98; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. PE–97–66]

Petitions for Exemption; Summary of

Petitions Received; Dispositions of

Petitions Issued

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice of petitions for

exemption received and of dispositions

of prior petitions.

SUMMARY: Pursuant to FAA’s rulemaking

provisions governing the application,

processing, and disposition of petitions

for exemption (14 CFR part 11), this

notice contains a summary of certain

petitions seeking relief from specified

requirements of the Federal Aviation

Regulations (14 CFR Ch. I), dispositions

of certain petitions previously received,

and corrections. The purpose of this

notice is to improve the public’s

awareness of, and participation in, this

aspect of FAA’s regulatory activities.

Neither publication of this notice nor

the inclusion or omission of information

in the summary is intended to affect the

legal status of any petition or its final

disposition.

DATES: Comments on petitions received

must identify the petition docket

number involved and must be received

on or before January 26, 1998.

ADDRESSES: Send comments on any

petition in triplicate to: Federal

Aviation Administration, Office of the

Chief Counsel, Attn: Rule Docket (AGC–

200), Petition Docket No. 29099, 800

Independence Avenue, SW.,

Washington, DC 20591.

Comments may also be sent

electronically to the following internet

address: 9–NPRM–CMTS@faa.dot.gov.

The petition, any comments received,

and a copy of any final disposition are

filed in the assigned regulatory docket

and are available for examination in the

Rules Docket (AGC–200), Room 915G,

FAA Headquarters Building (FOB 10A),

800 Independence Avenue, SW.,

Washington, DC 20591; Telephone (202)

267–3132.

FOR FURTHER INFORMATION CONTACT:

Angela Anderson (202) 267–9681 or

Tawana Matthews (202) 267–9783

Office of Rulemaking (ARM–1) Federal

Aviation Administration, 800

Independence Avenue, SW.,

Washington, DC 20591.

This notice is published pursuant to

paragraphs (c), (e), and (g) of § 11.27 of

part 11 of the Federal Aviation

Regulations (14 CFR Part 11).

Issued in Washington, DC, on January 14,

1998.

Gary A. Michel,

Acting Assistant Chief Counsel for

Regulations.

Petitions for Exemption

Docket No.: 29099.

Petitioner: Embry-Riddle Aeronautical

University.

Sections of the FAR Affected: 14 CFR

61.55(b)(2), 61.56(c)(1), 61.57 (a) (b) (c)

(d), 61.58(a) (1) and (2), and 61.195(e)

Description of Relief Sought: To

permit the petitioner to use Level D

flight simulators to meet certain flight

experience and recency of experience

requirements of section 61 for instructor

pilots prior to certification of the

petitioner’s part 142 training center for

each appropriate Level D flight

simulator program.

[FR Doc. 98–1374 Filed 1–20–98; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. PE–97–67]

Petitions for Exemption; Summary of

Petitions Received; Dispositions of

Petitions Issued

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice of petitions for

exemption received and of dispositions

of prior petitions.

SUMMARY: Pursuant to FAA’s rulemaking

provisions governing the application,

processing, and disposition of petitions

for exemption (14 CFR part 11), this

notice contains a summary of certain

petitions seeking relief from specified

requirements of the Federal Aviation

Regulations (14 CFR Ch. I), dispositions

of certain petitions previously received,

and corrections. The purpose of this

notice is to improve the public’s

awareness of, and participation in, this

aspect of FAA’s regulatory activities.

Neither publication of this notice nor

the inclusion or omission of information

in the summary is intended to affect the

legal status of any petition or its final

disposition.

DATE: Comments on petitions received

must identify the petition docket