36268 Federal Register / Vol. 63, No. 127 /Thursday, July 2, 1998 / Notices

Welfare Benefits Administration, 200

Constitution Avenue, NW, Washington,

DC 20210, (202) 219–4782 (this is not a

toll-free number), FAX (202) 219–4745.

SUPPLEMENTARY INFORMATION:

I. Background

Prohibited Transaction Exemption

91–55 permits purchases and sales by

certain ‘‘individual retirement

accounts,’’ as defined in Internal

Revenue Code section 408 (IRAs) of

American Eagle bullion coins (‘‘Coins’’)

in principal transactions from or to

broker-dealers in Coins which are

‘‘authorized purchasers’’ of Coins in

bulk quantities from the United States

Mint and which are also ‘‘disqualified

persons,’’ within the meaning of Code

section 4975(e)(2), with respect to IRAs.

The exemption also describes the

circumstances under which the interestfree extension of credit in connection

with such sales and purchases is

permitted. In the absence of an

exemption, such purchases and sales

and extensions of credit would be

impermissible under the Employee

Retirement Income Security Act of 1974

(ERISA).

II. Current Actions

This existing collection of information

should be continued because without

the relief provided by this exemption,

purchases and sales of such Coins and

extensions of credit in connection with

such sales and purchases would be

prohibited transactions. The

recordkeeping requirements

incorporated within the exemption are

intended to protect the interest of plan

participants and beneficiaries. The

exemption requires that certain

information be disclosed relating to

covered transactions in Coins.

Type of Review: Extension.

Agency: Pension and Welfare Benefits

Administration.

Title: Prohibited Transaction

Exemption 91–55.

OMB Number: 1210–0079.

Affected Public: Business or other forprofit, Not-for-profit institutions,

Individuals.

Total Respondents: 12.

Frequency: On occasion.

Total Responses: 200,000.

Average Time Per Response: 5

minutes for confirmation statement and

recordkeeping, 1 minute for one-time

disclosure document.

Estimated Total Burden Hours:

36,666.

Comments submitted in response to

this notice will be summarized and/or

included in the request for Office of

Management and Budget approval of the

information collection request; they will

also become a matter of public record.

Dated: June 26, 1998.

Gerald B. Lindrew,

Deputy Director, Office of Policy and

Research, Pension and Welfare Benefits

Administration.

[FR Doc. 98–17570 Filed 7–1–98; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Extension of Information

Collection Request Submitted for

Public Comment and

Recommendations; Prohibited

Transaction Exemption 85–68 To

Permit Employee Benefit Plans To

Invest in Customer Notes of Employers

ACTION: Notice.

SUMMARY: The Department of Labor, as

part of its continuing effort to reduce

paperwork and respondent burden,

provides the general public and Federal

agencies with an opportunity to

comment on proposed and/or

continuing collections of information in

accordance with the Paperwork

Reduction Act of 1995 (PRA 95) (44

U.S.C. 3506(c)(2)(A)). This program

helps to ensure that requested data can

be provided in the desired format,

reporting burden (time and financial

resources) is minimized, collection

instruments are clearly understood, and

the impact of collection requirements on

respondents can be properly assessed.

Currently, the Pension and Welfare

Benefits Administration is soliciting

comments concerning the proposed

extension of a currently approved

collection of information, Prohibited

Transaction Exemption 85–68. A copy

of the proposed information collection

request (ICR) can be obtained by

contacting the individual listed below

in the contact section of this notice.

DATES: Written comments must be

submitted on or before August 31, 1998.

The Department of Labor

(Department) is particularly interested

in comments which:

• Evaluate whether the proposed

collection of information is necessary

for the proper performance of the

functions of the agency, including

whether the information will have

practical utility;

• Evaluate the accuracy of the

agency’s estimate of the burden of the

proposed collection of information,

including the validity of the

methodology and assumptions used;

• Enhance the quality, utility, and

clarity of the information to be

collected; and

• Minimize the burden of the

collection of information on those who

are to respond, including through the

use of appropriate automated,

electronic, mechanical, or other

technological collection techniques or

other forms of information technology,

e.g., permitting electronic submissions

of responses.

ADDRESSES: Gerald B. Lindrew,

Department of Labor, Pension and

Welfare Benefits Administration, 200

Constitution Avenue, NW, Washington,

DC 20210, (202) 219–4782 (not a tollfree number), FAX (202) 219–4745.

SUPPLEMENTARY INFORMATION:

I. Background

Pursuant to section 408 of ERISA, the

Department has authority to grant an

exemption from the prohibitions of

sections 406 and 407(a) if it can

determine that the exemption is

administratively feasible, in the interest

of participants and beneficiaries, and

protective of the rights of participants

and beneficiaries of the plan. Prohibited

Transaction Class Exemption 85–68

describes the conditions under which a

plan is permitted to acquire customer

notes accepted by an employer of

employees covered by the plan in the

ordinary course of the employer’s

primary business activity. The

exemptions covers sales as well as

contributions of customer notes by an

employer to its plan.

II. Current Actions

The ICR included in this exemption is

intended to ensure that the conditions

of ERISA section 408 have been satisfied

with respect to transactions involving

customer notes. Specifically, the

exemption requires that the employer

provide a written guarantee to

repurchase a note which becomes more

than 60 days delinquent, that such notes

be secured by a perfected security

interest in the property financed by the

note, and that the collateral be insured.

Because this ICR ensures that the

transactions are protective of the rights

of participants and beneficiaries, the

Pension and Welfare Benefits

Administration intends to request an

extension of this ICR beyond its

September 30, 1998 expiration date.

Type of Review: Extension.

Agency: Department of Labor, Pension

and Welfare Benefits Administration.

Title: Prohibited Transaction Class

Exemption 85–68.

OMB Number: 1210–0094.
Federal Register / Vol. 63, No. 127 /Thursday, July 2, 1998 / Notices 36269

Affected Public: Business or other forprofit, Not-for-profit institutions,

Individuals.

Frequency: On occasion.

Total Responses: 1.

Estimated Total Burden Hours: 1.

Comments submitted in response to

this notice will be summarized and/or

included in the request for Office of

Management and Budget approval of the

information collection request; they will

also become a matter of public record.

Dated: June 26, 1998.

Gerald B. Lindrew,

Deputy Director, Office of Policy and

Research, Pension and Welfare Benefits

Administration.

[FR Doc. 98–17571 Filed 7–1–98; 8:45 am]

BILLING CODE 4510–29–M

NATIONAL FOUNDATION ON THE

ARTS AND HUMANITIES

National Council on The Humanities;

Meeting

July 1, 1998.

Pursuant to the provisions of the

Federal Advisory Committee Act (Public

L. 92–463, as amended) notice is hereby

given that a meeting of the National

Council on the Humanities will be held

in Washington, D.C. on July 16–17,

1998.

The purpose of the meeting is to

advise the Chairman of the National

Endowment for the Humanities with

respect to policies, programs, and

procedures for carrying out his

functions, and to review applications for

financial support and gifts offered to the

Endowment and to make

recommendations thereon to the

Chairman.

The meeting will be held in the Old

Post Office Building, 1100 Pennsylvania

Avenue, N.W., Washington, D.C. A

portion of the morning and afternoon

sessions on July 16–17, 1998, will not be

open to the public pursuant to

subsections (c)(4), (6) and (9)(B) of

section 552b of Title 5, United States

Code because the Council will consider

information that may disclose: trade

secrets and commercial or financial

information obtained from a person and

privileged or confidential; information

of a personal nature the disclosure of

which will constitute a clearly

unwarranted invasion of personal

privacy; and information the disclosure

of which would significantly frustrate

implementation of proposed agency

action. I have made this determination

under the authority granted me by the

Chairman’s Delegation of Authority

dated July 19, 1993.

The agenda for the session on July 16,

1998 will be as follows:

Committee Meetings

(Closed to the Public)

Discussion of Specific Grant

Applications Before the Council

9:00–11:00 a.m.

Research/Education Programs—Room

M07

(Open to the Public)

Policy Discussion

9:00–10:00 a.m.

Preservation and Access & Challenge

Grants—Room 415

Public Programs—Room 420

Federal/state Partnership—Room 507

11:15 a.m. until Adjourned

Research/Education Programs—Room

M07

(Closed to the Public)

10:00 a.m. until Adjourned

Discussion of specific grant

applications before the Council

12:30—1:30 p.m.

National Humanities Medal

Meeting—Room 430

The morning session on July 17, 1998

will convene at 8:30 a.m., in the 1st

Floor Council Room M–09, and will be

open to the public, as set out below. The

agenda for the morning session will be

as follows:

Minutes of the Previous Meeting

Reports

A. Introductory Remarks

B. Staff Report

C. Reports on Policy & General Matters

1. Overview

2. Research and Education Programs

3. Preservation and Access &

Challenge Grants

4. Public Programs

5. Federal/State Partnership

The remainder of the proposed

meeting will be given to the

consideration of specific applications

and closed to the public for the reasons

stated above.

Further information about this

meeting can be obtained from Ms.

Nancy E. Weiss, Advisory Committee

Management Officer, Washington, D.C.

20506, or call area code (202) 606–8322,

TDD (202) 606–8282. Advance notice of

any special needs or accommodations is

appreciated.

Nancy E. Weiss,

Advisory Committee Management Officer.

[FR Doc. 98–17680 Filed 7–1–98; 8:45 am]

BILLING CODE 7536–01–M

THE NATIONAL FOUNDATION ON THE

ARTS AND THE HUMANITIES

Meetings of Humanities Panel

AGENCY: The National Endowment for

the Humanities.

ACTION: Notice of meetings.

SUMMARY: Pursuant to the provisions of

the Federal Advisory Committee Act

(Public Law 92–463, as amended),

notice is hereby given that the following

meetings of the Humanities Panel will

be held at the Old Post Office, 1100

Pennsylvania Avenue NW., Washington,

DC 20506.

FOR FURTHER INFORMATION CONTACT:

Nancy E. Weiss, Advisory Committee

Management Officer, National

Endowment for the Humanities,

Washington, DC 20506; telephone (202)

606–8322. Hearing-impaired individuals

are advised that information on this

matter may be obtained by contacting

the Endowment’s TDD terminal on this

matter may be obtained by contacting

the Endowment’s TDD terminal on (202)

606–8282.

SUPPLEMENTARY INFORMATION: The

proposed meetings are for the purpose

of panel review, discussion, evaluation

and recommendation on applications

for financial assistance under the

National Foundation on the Arts and the

Humanities Act of 1965, as amended,

including discussion of information

given in confidence to the agency by the

grant applicants. Because the proposed

meetings will consider information that

is likely to disclose trade secrets and

commercial or financial information

obtained from a person and privileged

or confidential and/or information of a

personal nature the disclosure of which

would constitute a clearly unwarranted

invasion of personal privacy, pursuant

to authority granted me by the

Chairman’s Delegation of Authority to

Close Advisory Committee meetings,

dated July 19, 1993, I have determined

that these meetings will be closed to the

public pursuant to subsections (c) (4),

and (6) of section 552b of Title 5, United

States Code.

1. Date: July 10, 1998.

Time: 8:30 a.m. to 6:00 p.m.

Room: 415.

Program: This meeting will review

applications for Colleges and

Universities I, submitted to the Office of

Challenge Grants for projects at the May

1, 1998 deadline.

2. Date: July 13, 1998.

Time: 8:30 a.m. to 6:00 p.m.

Room: 415.

Program: This meeting will review

applications for Art and Anthropology

Museums, submitted to the Office of