34210 Federal Register / Vol. 63, No. 120 /Tuesday, June 23, 1998 / Notices

6See Amendment No. 1.

7 In approving this rule, the Commission has

considered the proposed rule’s impact on

efficiency, competition, and capital formation. 15

U.S.C. 78c(f).

8 15 U.S.C. 78f(b)(5).

9 15 U.S.C. 78s(b)(2).

10 17 CFR 200.30–3(a)(12).

options during an initial evaluation

period, and then over time to expand

the changed procedure to cover a larger

number of equity options unless, upon

evaluation, such expansion appears not

to be warranted. Members will be given

advance notice of each class of options

to which these revised procedures

apply.

In addition, the proposed rule change

authorizes the Chairman of the

appropriate Floor Procedure Committee

or his or her designee to disable RAES

Auto-Step-Up for specified classes or

series of options or in respect of

specified markets when ‘‘quotes in such

options or markets are deemed not to be

reliable.’’ This authority would be

expected to be exercised in

circumstances such as communication

or system problems, fast markets, and

similar situations that could make

quotes unreliable. For instance, the

Exchange is infrequently faced with

delays in the dissemination of quotes

because of queues on the Options Price

Reporting Authority (‘‘OPRA’’). When

the Exchange is made aware of OPRA

delays, it knows that there is a delay in

the dissemination of quotes from the

other exchanges. As a result, those

quotes likely would be stale. Under that

circumstance, the Chairmen of the Floor

Procedure Committees might decide to

exercise their exemptive authority

under the proposal. The Exchange has

represented to the Commission that it

expects such authority to be exercised

infrequently.6

III. Discussion

After careful review, the Commission

finds that the proposed rule change is

consistent with the requirements of the

Act. In particular, the Commission

believes the proposal is consistent with

Section 3(f) 7 and Section 6(b)(5) 8 of the

Act. Section 6(b)(5) requires, among

other things, that the rules of an

exchange be designed to promote just

and equitable principles of trade and to

protect investors and the public interest.

By automating the execution of

eligible retail orders for equity options

through the RAES Auto-Step-Up, the

amended Interpretation and Policy .02

should help to insure that investors

receive prompt, automatic execution of

RAES orders at the best available prices,

even if those prices are being quoted in

a market other than the Exchange, when

the better prices in other markets do not

improve on the CBOE’s market by more

than one tick. This proposal should

minimize the delay inherent in

manually handling orders in this

circumstance, and thereby reduce the

risk to investors that, as a result of an

adverse move in the market while their

orders are being manually handled, they

may receive an inferior execution.

Moreover, the amendment to

Interpretation and Policy .02 is

consistent with Section 3(f) of the Act.

Among other things, that Section

requires the Commission to consider

whether proposed rule changes will

promote competition. The RAES AutoStep-Up feature, when activated, should

enhance competition by requiring

executions on the CBOE at better prices

found on other exchanges.

The Commission finds good cause for

approving the proposed rule change, as

amended, prior to the thirtieth day after

the date of publication of notice thereof

in the Federal Register. This will permit

customers to receive the benefits of

automatic price improvement under the

proposed rule change more quickly. In

addition, the Commission recognizes

that orders are already eligible for

manual price improvement when routed

to the floor. This proposal merely

automates that price improvement for

those options to which the Auto-StepUp feature applies. Moreover, the

Commission notes that the full 21 day

comment period has expired, and no

adverse comments were received.

IV. Conclusion

It is therefore ordered, pursuant to

section 19(b)(2) of the Act,9 that the

proposed rule change (SR–CBOE–98–

13), as amended, is hereby approved on

an accelerated basis.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.10

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–16583 Filed 6–22–98; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Office of The Secretary

Reports, Forms and Recordkeeping

Requirements Agency Information

Collection Activity Under OMB Review

AGENCY: Office of the Secretary, DOT.

ACTION: Notice.

SUMMARY: In compliance with the

Paperwork Reduction Act of 1995 (44

U.S.C. Chapter 35), this notice

announces that the Information

Collection Requests (ICRs) abstracted

below have been forwarded to the Office

of Management and Budget (OMB) for

review and comment. The ICRs describe

the nature of the information collection

and their expected burden. The Federal

Register Notice with a 60-day comment

period soliciting comments on (1)

Incident and Annual Reports for Gas

Pipeline Operators 2137–0522, was

published on April 14, 1998 [63 FR

18251–18252]; (2) Transportation of

Hazardous Liquids by Pipeline:

Recordkeeping and Accident Reporting

2137–0047, was published on April 14,

1998 [63 FR 18251–18252]; and (3)

Reporting of Safety-Related Conditions

on Gas, Hazardous Liquid, and Carbon

Dioxide Pipelines and Liquefied Natural

Gas Facilities 2137–0578, was published

on April 14, 1998 [63 FR 18251–18252].

DATES: Comments on this notice must be

received on or before July 23, 1998.

FOR FURTHER INFORMATION CONTACT:

Marvin Fell, Office of Pipeline Safety

Research and Special Programs

Administration, U.S. Department of

Transportation 400 Seventh Street, SW.,

Washington, D.C. 20590, (202) 366–

6205, or fax (202) 36604566 or by

electronic mail

‘‘marvin.fell@rspa.dot.gov’’.

SUPPLEMENTARY INFORMATION:

Research and Special Programs

Administration (RSPA)

(1). Title: Incident and Annual

Reports for Gas Pipeline Operators.

OMB Control Number: 2137–0522.

Form(s): 7100.1, 7100.2, 7100.1–1,

7100.2–1.

Type of Request: Extension of a

currently approved collection.

Affected Public: Gas pipeline

operators.

Abstract: 49 CFR 191 requires that gas

pipeline operators report certain

pipeline incidents that involve injuries,

fatalities, fires, property damage or

environmental damage. Additionally,

gas pipeline operators must submit

annual reports on their operations to the

Department of Transportation.

Estimated Annual Burden Hours:

6717 hours.

(2). Title: Transportation of Hazardous

Liquids by Pipeline: Recordkeeping and

Accident Reporting.

OMB Number: 2137–0047.

Form(s): DOT 7000–1.

Type of Request: Extension of a

currently approved collection.

Affected Public: Hazardous Liquid

Pipeline Operators.

Abstract: Federal statute requires that

hazardous liquid pipeline operators

prepare and maintain written records
Federal Register / Vol. 63, No. 120 /Tuesday, June 23, 1998 / Notices 34211

and reports and to make them available

to the Department of Transportation on

request. Additional 49 CFR 195 requires

hazardous liquid operators report

accidents to the Department of

Transportation.

Annual Estimate of Burden: 49,210

hours.

(3). Title: Reporting of Safety-Related

Conditions on Gas, Hazardous Liquid,

and Carbon Dioxide Pipelines and

Liquefied Natural Gas Facilities.

OMB Number: 2137–0578.

Type of Request: Extension of a

currently approved collection.

Form(s): N/A.

Affected Public: Pipeline and

Liquefied Natural Gas facility operators.

Abstract: 49 U.S.C. 60102 requires

each operator of a pipeline facility

(except master meter) to submit to the

Department of Transportation a written

report on any safety-related condition

that causes or has caused a significant

change or restriction in the operation of

pipeline facility or a condition that is a

hazard to life, property or the

environment.

Annual Estimated Burden Hours: 282.

Send comments to the Office of

Information and Regulatory Affairs,

Office of Management and Budget, 725–

17th Street, NW., Washington, DC

20503, Attention RSPA Desk Officer.

Comments are invited on: whether the

proposed collection of information is

necessary for the proper performance of

the functions of the Department,

including whether the information will

have practical utility; the accuracy of

the Department’s estimate of the burden

of the proposed information collection;

ways to enhance the quality, utility and

clarity of the information to be

collected; and ways to minimize the

burden of the collection of information

on respondents, including the use of

automated collection techniques or

other forms of information technology.

A comment to OMB is best assured of

having its full effect if OMB receives it

within 30 days of publication.

Issued in Washington, DC on June 16,

1998.

Phillip A. Leach,

Clearance Officer, United States Department

of Transportation.

[FR Doc. 98–16662 Filed 6–22–98; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Aviation Proceedings, Agreements

Filed During the Week Ending June 12,

1998

The following Agreements were filed

with the Department of Transportation

under the provisions of 49 U.S.C.

Sections 412 and 414. Answers may be

filed within 21 days of date of filing.

Docket Number: OST–98–3951.

Date Filed: June 11, 1998.

Parties: Members of the International

Air Transport Association.

Subject: PTC2 Telex Mail Vote 943,

Algeria-Europe/Mideast/Western Africa,

r1-Economy Class fares r2-Normal/First/

Interm. Intended effective date: June 22,

1998

Cynthia Hatten,

Federal Register Liaison.

[FR Doc. 98–16602 Filed 6–22–98; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Notice of Applications for Certificates

of Public Convenience and Necessity

and Foreign Air Carrier Permits Filed

Under Subpart Q During the Week

Ending June 12, 1998

The following Applications for

Certificates of Public Convenience and

Necessity and Foreign Air Carrier

Permits were filed under Subpart Q of

the Department of Transportation’s

Procedural Regulations (See 14 CFR

302.1701 et. seq.). The due date for

Answers, Conforming Applications, or

Motions to Modify Scope are set forth

below for each application. Following

the Answer period DOT may process the

application by expedited procedures.

Such procedures may consist of the

adoption of a show-cause order, a

tentative order, or in appropriate cases

a final order without further

proceedings.

Docket Number: OST–98–3946.

Date Filed: June 9, 1998.

Due Date for Answers, Conforming

Applications, or Motions to Modify

Scope: June 16, 1998.

Description

Application of United Parcel Service

Co. pursuant to the Department’s Notice

served May 26, 1998, and Subpart Q,

requests a certificate of public

convenience and necessity authorizing

it to engage in all-cargo foreign air

transportation between any point or

points in the United States via

intermediate points to any point or

points in Colombia and beyond.

Docket Number: OST–98–3955.

Date Filed: June 12, 1998.

Due Date for Answers, Conforming

Applications, or Motions to Modify

Scope: July 10, 1998.

Description

Application of United Parcel Service

Co. pursuant to 49 U.S.C. Section 41102,

and Subpart Q of the Regulations,

requests an amendment to its certificate

of public convenience and necessity for

Route 557 so as to authorize it to engage

in the scheduled foreign air

transportation of property and mail

between any point or points in the

United States and any point or points in

the following countries, in addition to

the points currently contained in UPS’s

Certificate for Route 557: Albania,

Armenia, Aruba, Azerbaijan, Belarus,

Bosnia, Botswana, Bulgaria, Cote d’

Ivoire, Costa Rica, Croatia, Czech

Republic, Dominican Republic, El

Salvador, Estonia, Ethiopia, Georgia,

Ghana, Greece, Guatemala, Honduras,

Hungary, Iceland, Jordan, Kuwait,

Kyrgyz Republic, Latvia, Lithuania,

Macao, Macedonia, Malawi, Malta,

Moldova, Namibia, The Netherlands

Antilles, Nicaragua, Poland, Peru, Qatar,

Slovakia, Slovenia, Tajikistan, Tanzania,

Trinidad and Tobago, Turkmenistan,

Uganda, Uzbekistan, and Zaire.

Cynthia Hatten,

Federal Register Liaison.

[FR Doc. 98–16603 Filed 6–22–98; 8:45 am]

BILLING CODE 4910–62–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Agency Information Collection Activity

Under OMB Review

AGENCY: Department of Transportation,

Federal Aviation Administration (DOT/

FAA).

ACTION: Notice.

SUMMARY: In compliance with the

Paperwork Reduction Act (44 U.S.C.

3501 et seq.) this notice announces that

the information collection request

described below has been forwarded to

the Office of Management and Budget

(OMB) for review. The FAA is

requesting an emergency clearance by

July 14, 1998, in accordance with 5 CFR

1320.13. The following information

describes the nature of the information

collection and its expected burden.

SUPPLEMENTARY INFORMATION: .

Title: Inflight Medical Incident

Report.

Need: The Aviation Medical

Assistance Act of 1998 directs the

Administrator of the Federal Aviation

Administration to reevaluate the

equipment in medical kits and

emergency training requirements for

flight attendants, and to determine

whether automatic external

defibrillators should be required

equipment on air carriers and possibly

at airports. To make this determination,