Federal Register / Vol. 63, No. 138 / Monday, July 20, 1998 / Notices 38853

2. Evaluate the accuracy of the

agencies/components estimate of the

burden of the proposed collection of

information including the validity of the

methodology and assumptions used;

3. Enhance the quality, utility, and

clarity of the information to be

collected; and

4. 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 submission of

responses.

If you have comments, suggestions, or

need a copy of the proposed information

collection instrument with instructions,

if applicable, or additional information,

please contact Patricia Good, 202–307–

7297, Chief, Policy and Liaison Section,

Office of Diversion Control, Drug

Enforcement Administration,

Washington, DC 20537.

Overview of This Information

(1) Type of information collection:

Extension of a currently approved

collection.

(2) The title of the form/collection:

Removal of Restrictions on Employing

Certain Individuals.

(3) The agency form number, if any,

and the applicable component of the

Department sponsoring the collection:

Form No.: None.

Applicable component of the

Department sponsoring the collection:

Office of Diversion Control, Drug

Enforcement Administration, U.S.

Department of Justice

(4) Affected public who will be asked

or required to respond, as well as a brief

abstract:

Primary: Business or other for-profit.

Other: Individuals or households, not

for Profit Institutions, Federal

Government, State, Local or Tribal

Government.

Abstract: The collection of

information is necessary to maintain a

closed system of distribution by

requiring notification from DEA

registrants of their intent to employ

persons who have been convicted of a

felony offense.

(5) An estimate of the total number of

respondents and the amount of time

estimated for an average respondent to

respond/reply: 100 respondents. 1

response per year × 30 minutes per

response = .50 hrs.

(6) An estimate of the total public

burden (in hours) associated with the

collection: 50 annual burden hours. 100

respondents × .50 hrs. per respondent

per year.

Under the Paperwork Reduction Act,

a person is not required to respond to

a collection of information unless it

displays a currently valid OMB control

number. Public reporting burden for this

collection of information is estimated to

average 30 minutes per response,

including the time for reviewing

instructions, searching existing data

sources, gathering and maintaining the

data needed, and completing and

reviewing the collection of information.

Send comments regarding this burden

estimate or any other aspect of this

collection of information, including

suggestions for reducing this burden, to

the FOI and Records Management

Section, Drug Enforcement

Administration, Washington, DC 20537;

and to the Office of Management and

Budget, Paperwork Reduction Project

No. 1117–0032, Washington, DC 20503.

If additional information is required

contact: Mr. Robert B. Briggs, Clearance

Officer, United States Department of

Justice, Information Management and

Security Staff, Justice Management

Division, Suite 850, Washington Center,

1001 G. Street, NW, Washington, DC

20530.

Dated: July 13, 1998.

Robert B. Briggs,

Department Clearance Officer, United States

Department of Justice.

[FR Doc. 98–19173 Filed 7–17–98; 8:45 am]

BILLING CODE 4410–09–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

[Prohibited Transaction Exemption 98–36;

Exemption Application No. D–10525, et al.]

Grant of Individual Exemptions;

Collection Bureau Services

AGENCY: Pension and Welfare Benefits

Administration, Labor.

ACTION: Grant of individual exemptions.

SUMMARY: This document contains

exemptions issued by the Department of

Labor (the Department) from certain of

the prohibited transaction restrictions of

the Employee Retirement Income

Security Act of 1974 (the Act) and/or

the Internal Revenue Code of 1986 (the

Code).

Notices were published in the Federal

Register of the pendency before the

Department of proposals to grant such

exemptions. The notices set forth a

summary of facts and representations

contained in each application for

exemption and referred interested

persons to the respective applications

for a complete statement of the facts and

representations. The applications have

been available for public inspection at

the Department in Washington, D.C. The

notices also invited interested persons

to submit comments on the requested

exemptions to the Department. In

addition the notices stated that any

interested person might submit a

written request that a public hearing be

held (where appropriate). The

applicants have represented that they

have complied with the requirements of

the notification to interested persons.

No public comments and no requests for

a hearing, unless otherwise stated, were

received by the Department.

The notices of proposed exemption

were issued and the exemptions are

being granted solely by the Department

because, effective December 31, 1978,

section 102 of Reorganization Plan No.

4 of 1978 (43 FR 47713, October 17,

1978) transferred the authority of the

Secretary of the Treasury to issue

exemptions of the type proposed to the

Secretary of Labor.

Statutory Findings

In accordance with section 408(a) of

the Act and/or section 4975(c)(2) of the

Code and the procedures set forth in 29

CFR Part 2570, Subpart B (55 FR 32836,

32847, August 10, 1990) and based upon

the entire record, the Department makes

the following findings:

(a) The exemptions are

administratively feasible;

(b) They are in the interests of the

plans and their participants and

beneficiaries; and

(c) They are protective of the rights of

the participants and beneficiaries of the

plans.

Collection Bureau Services, Profit

Sharing Plan and Trust (the Plan),

Located in Missoula, MT

[Prohibited Transaction Exemption 98–36;

Exemption Application No. D–10525]

Exemption

The restrictions of sections 406(a),

406(b)(1) and (b)(2) of the Act and the

sanctions resulting from the application

of section 4975 of the Code, by reason

of section 4975(c)(1)(A) through (E) of

the Code, shall not apply to (1) the

proposed lease (the Lease) by the Plan

of certain improved real property (the

Property) to Collection Bureau Services

(the Employer), a party in interest with

respect to the Plan, and (2) the possible

purchase of the Property by the

Employer in the future, pursuant to the

Employer’s option to purchase the

Property under the Lease.

This exemption is subject to the

following conditions:
38854 Federal Register / Vol. 63, No. 138 / Monday, July 20, 1998 / Notices

(1) The Plan is represented for all

purposes under the Lease by a qualified,

independent fiduciary;

(2) The terms and conditions of the

Lease are at least as favorable to the Plan

as those the Plan could obtain in a

comparable arm’s length transaction

with an unrelated party;

(3) The rent paid to the Plan under the

Lease is no less than the fair market

rental value of the Property, as

established by a qualified, independent

appraiser;

(4) The rent is adjusted, at a

minimum, every three years, based

upon an updated independent appraisal

of the Property, but in no event shall

such adjustments result in the rent

being less than the rental amount for the

Property existing for the preceding

period;

(5) The Lease is triple net (with all

expenses for maintenance, taxes, and

insurance to be borne by the Employer

as the tenant);

(6) The independent fiduciary for the

Plan (the I/F) reviews the terms and

conditions of the Lease on behalf of the

Plan and determines that the Lease is in

the best interests of, and appropriate for,

the Plan;

(7) The I/F monitors and enforces

compliance with all of the terms and

conditions of the Lease, and of this

exemption, throughout the duration of

the Lease;

(8) The I/F expressly approves any

improvements by the Employer to the

Property, any renewal of the Lease

beyond the initial term, and any sale of

the Property to the Employer, pursuant

to the Employer’s option to purchase the

Property under the Lease;

(9) In the event that the Employer

exercises its option to purchase the

Property under the Lease, the Employer

pays the Plan an amount which is the

greater of either (a) the original

acquisition cost of the Property, plus

holding expenses, or (b) the fair market

value of the Property, as of the date of

the sale, as established by a qualified,

independent appraiser; and

(10) At all times throughout the

duration of the Lease, the fair market

value of the Property represents no more

than 25 percent of the total assets of the

Plan.

For a more complete statement of the

facts and representations supporting the

Department’s decision to grant this

exemption, refer to the notice of

proposed exemption published on May

29, 1998 at 63 FR 29456.

FOR FURTHER INFORMATION CONTACT: Ms.

Karin Weng of the Department,

telephone (202) 219–8881. (This is not

a toll-free number.)

McClain’s R.V., Inc. 401(k) Profit

Sharing Plan (the Plan), Located in

Lake Dallas, Texas

[Prohibited Transaction Exemption 98–37;

Exemption Application No. D–10583]

Exemption

The restrictions of sections 406(a),

406(b)(1) and (b)(2) of the Act and the

sanctions resulting from the application

of section 4975 of the Code, by reason

of section 4975(c)(1)(A) through (E) of

the Code, shall not apply to the sale of

certain unimproved real property (the

Land) by the Plan to Larry McClain, the

sole shareholder of McClain’s R.V. Inc.,

the sponsor of the Plan, and a party in

interest with respect to the Plan,

provided that the following conditions

are satisfied:

(a) The sale will be a one-time cash

transaction;

(b) The Plan will receive the greater

of: (1) The original acquisition cost of

the Land plus the aggregate holding

costs incurred by the Plan; or (2) the

current fair market value of the Land

(plus an appropriate premium related to

the adjacency of the Land to other real

property owned by McClain’s R.V. Inc.),

as established by an independent

qualified appraiser at the time of the

sale; and

(c) The Plan will pay no commissions

or other expenses associated with the

sale.

For a more complete statement of the

facts and representations supporting the

Department’s decision to grant this

exemption, refer to the notice of

proposed exemption published on May

18, 1998 at 63 FR 27330.

FOR FURTHER INFORMATION CONTACT:

Ekaterina A. Uzlyan of the Department

at (202) 219–8883. (This is not a toll-free

number.)

General Information

The attention of interested persons is

directed to the following:

(1) The fact that a transaction is the

subject of an exemption under section

408(a) of the Act and/or section

4975(c)(2) of the Code does not relieve

a fiduciary or other party in interest or

disqualified person from certain other

provisions to which the exemptions

does not apply and the general fiduciary

responsibility provisions of section 404

of the Act, which among other things

require a fiduciary to discharge his

duties respecting the plan solely in the

interest of the participants and

beneficiaries of the plan and in a

prudent fashion in accordance with

section 404(a)(1)(B) of the Act; nor does

it affect the requirement of section

401(a) of the Code that the plan must

operate for the exclusive benefit of the

employees of the employer maintaining

the plan and their beneficiaries;

(2) These exemptions are

supplemental to and not in derogation

of, any other provisions of the Act and/

or the Code, including statutory or

administrative exemptions and

transactional rules. Furthermore, the

fact that a transaction is subject to an

administrative or statutory exemption is

not dispositive of whether the

transaction is in fact a prohibited

transaction; and

(3) The availability of these

exemptions is subject to the express

condition that the material facts and

representations contained in each

application accurately describes all

material terms of the transaction which

is the subject of the exemption.

Signed at Washington, D.C., this 15th day

of July, 1998.

Ivan Strasfeld,

Director of Exemption Determinations,

Pension and Welfare Benefits Administration,

U.S. Department of Labor.

[FR Doc. 98–19233 Filed 7–17–98; 8:45 am]

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

[Application No. D–10324, et al.]

Proposed Exemptions; Pacific Income

Advisers, Inc.

AGENCY: Pension and Welfare Benefits

Administration, Labor.

ACTION: Notice of proposed exemptions.

SUMMARY: This document contains

notices of pendency before the

Department of Labor (the Department) of

proposed exemptions from certain of the

prohibited transaction restrictions of the

Employee Retirement Income Security

Act of 1974 (the Act) and/or the Internal

Revenue Code of 1986 (the Code).

Written Comments and Hearing

Requests

All interested persons are invited to

submit written comments or request for

a hearing on the pending exemptions,

unless otherwise stated in the Notice of

Proposed Exemption, within 45 days

from the date of publication of this

Federal Register Notice. Comments and

requests for a hearing should state: (1)

The name, address, and telephone

number of the person making the

comment or request, and (2) the nature

of the person’s interest in the exemption

and the manner in which the person

would be adversely affected by the