Federal Register / Vol. 63, No. 135 /Wednesday, July 15, 1998 / Notices 38223

5 15 U.S.C. 78s(b)(2).

6 17 CFR 200.30–3(a)(12).

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b–4.

3See Letter from Murray L. Ross, Esq., Vice

President and Secretary, Phlx, to Michael

Walinskas, Esq., Deputy Associate Director,

Division of Market Regulation, Commission, dated

June 6,1998 (‘‘Amendment No. 1’’). In Amendment

No. 1, the Phlx consents to have the proposed rule

change published for notice and comment and

treated pursuant to Section 19(b)(2) of the Act. In

addition, in Amendment No. 1 the Phlx proposes

to adopt Commentary .01 to Phlx Rule 931 which

will require approved lessors to update Form U–4,

submitted pursuant to Phlx Rule 931(d), within

thirty days of learning that the information

contained in Form U–4 has become incomplete or

inaccurate. Where an amendment to Form U–4

involves a statutory disqualification as defined in

Sections 3(a)(39) and 15(b)(4) of the Act,

Commentary .01 will require that the amended

Form U–4 be submitted not later than ten (10) days

after the statutory disqualification occurs.

4 15 U.S.C. 78f.

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

expeditiously PMP limit orders, the PCX

is furthering the purposes of Section

11A(a)(1)(B) of the Act.

IV. Conclusion

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act,5 that the

proposed rule change (SR–PCX–98–12)

is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–18843 Filed 7–14–98; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–40180; File No. SR–Phlx–

98–22]

July 8, 1998.

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

the Philadelphia Stock Exchange, Inc.,

and Amendment No. 1 Thereto

Relating to Amendments to Phlx Rule

931 Regarding Approved Lessors

Pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on May 18,

1998, the Philadelphia Stock Exchange,

Inc. (‘‘Phlx’’ or ‘‘Exchange’’) filed with

the Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’)

the proposed rule change as described

in Items I, II, and III below, which Items

have been prepared by the Phlx. On

June 8, 1998, the Phlx filed an

amendment to the proposal.3 The

Commission is publishing this notice to

solicit comments on the proposed rule

change, as amended, from interested

persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Phlx seeks to amend Phlx Rule

931, ‘‘Approved Lessor.’’ The text of the

proposed rule change is available at the

Office of the Secretary, the Phlx, and at

the Commission.

II. Self-Regulatory Organization’s

Statements Regarding the Proposed

Rule Change

In its filing with the Commission, the

Phlx included statements concerning

the purpose of, and basis for, the

proposed rule change and discussed any

comments it received on the proposed

rule change. The text of these statements

may be examined at the places specified

in Item IV below. The Phlx has prepared

summaries, set forth in sections A, B,

and C below, of the most significant

aspects of such statements.

A. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

The Phlx proposes to amend Phlx

Rule 931 to substitute the word

‘‘Exchange’’ for the word ‘‘Corporation’’

throughout the rule and to require

disclosure on an initial and periodic

(quarterly) basis of lists of limited

partners, limited liability organization

members and shareholders of corporate

entities of approved lessors. Phlx Rule

931(d), as amended, will require a lessor

who is a natural person to file with the

Exchange an attestation in a form

prescribed by the Exchange as to the

source of funds used to purchase the

membership in addition to a completed

Form U–4. For a lessor who is not a

natural person, Phlx Rule 931(d) will

require that a statement of assets,

liabilities and net work and (1) if a

partnership, an executed partnership

agreement along with executed Form U–

4 for all partners who are natural

persons; (2) if a limited liability entity

other than a corporation, an executed

copy of the operating agreement along

with accompanying Form U–4 for all

such members who are natural persons;

or (3) if a corporation, the corporate

articles of incorporation, corporate bylaws, a listing of all officers, directors

and shareholders along with

accompanying Form U–4s. For a lessor

who is not a natural person, Phlx Rule

931(e) will require periodic reports to be

submitted to the Exchange within

seventeen business days after the

conclusion of the reporting period, in a

form prescribed by the Exchange,

including but not limited to the

following information: (i) As of the last

business day of each calendar quarter, a

list of all limited partners if the lessor

is a limited partnership, a membership

list if the lessor is a limited liability

entity other than a corporation along

with any new subscription agreements

and shareholder list if the lessor is a

corporation, and (ii) any material

change in the corporate or organizations

structure within ten days of the change

in the structure.

According to the Phlx, the proposed

amended rule codifies existing practices

of the Exchange’s Office of the Secretary

and Examinations Department

respecting processing of applications for

approval as an approved lessor of the

Phlx. The proposal will allow the

Exchange to monitor any changes in the

ownership interest respecting the

membership or memberships held by

approved lessors. The proposal will also

allow the Exchange to monitor for any

potential statutory disqualifications

respecting shareholders, partners and

members of limited liability entities by

requiring the filing of Form U–4 and

amendments to Form U–4 for natural

persons as well as various corporate,

organizational agreements or

partnership interest disclosures for

other entities.

The Phlx believes that the proposed

rule change is consistent with Section 6

of the Act,4 in general, and Section

6(b)(5),5 in particular, in that it is

designed to promote just and equitable

principles of trade, prevent fraudulent

and manipulative acts and practices, to

foster cooperation and coordination

with persons engaged in regulating,

clearing, settling, processing

information with respect to, and

facilitating transactions in securities, to

remove impediments to and perfect the

mechanism of a free and open market

and a national market system, as well as

to protect investors and the public

interest.

B. Self-Regulatory Organization’s

Statement on Burden Competition

The Phlx does not believe that the

proposed rule change will impose any

inappropriate burden on competition.

C. Self-Regulation Organization’s

Statement on Comments on the

Proposed Rule Change Received from

Members, Participants or Others

No written comments were either

solicited or received.
38224 Federal Register / Vol. 63, No. 135 /Wednesday, July 15, 1998 / Notices

6 17 CFR 200.30–3(a)(12).

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within 35 days of the date of

publication of this notice in the Federal

Register or within such longer period (i)

as the Commission may designate up to

90 days of such date if it finds such

longer period to be appropriate and

publishes its reasons for so finding or

(ii) as to which the Phlx consents, the

Commission will:

(A) by order approve such proposed

rule change, or,

(B) institute proceedings to determine

whether the proposed rule change

should be disapproved.

IV. Solicitation Comments

Interested persons are invited to

submit written data, views and

arguments concerning the foregoing,

including whether the proposed rule

change, as amended, is consistent with

the Act. Persons making written

submissions should file six copies

thereof with the Secretary, Securities

and Exchange Commission, 450 Fifth

Street, NW, Washington, DC 20549.

Copies of the submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are file with the

Commission, and all communications

relating to the rule change between the

Commission and any person, other than

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 in

the Commission’s Public Reference

Section, 450 Fifth Street, NW,

Washington, DC 20549. Copies of such

filing will also be available for

imspection and copying at the principal

office of the Phlx. All submissions

should refer to File SR–Phlx–98–22 and

should be submitted within 21 days

after the date of this publication.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–18763 Filed 7–14–98; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Environmental Impact Statement:

Cincinnati/Northern Kentucky

International Airport; Covington,

Kentucky

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice of intent.

SUMMARY: The Federal Aviation

Administration announces that it will

prepare an Environmental Impact

Statement (EIS) for implementation of

projects proposed in the Master Plan for

Cincinnati/Northern Kentucky

International Airport.

FOR FURTHER INFORMATION CONTACT:

Peggy S. Kelley, Federal Aviation

Administration, Airports District Office,

3385 Airways Blvd, Suite 302,

Memphis, Tennessee 38116–3841;

Telephone 901–544–3495, Ext. 19.

SUPPLEMENTARY INFORMATION: The

Federal Aviation Administration will

prepare and consider an EIS for

implementation of proposed projects in

the Master Plan Update for Cincinnati/

Northern Kentucky International

Airport.

The Kenton Country Airport Board

completed its Master Plan Update in

1996. The Master Plan was accepted by

FAA June 7, 1996. The Airport Layout

Plan was conditionally approved June 7,

1996, subject to environmental analysis.

Major airfield improvements proposed

in the Master Plan and to be assessed in

the EIS are a third parallel north/south

runway, 8000 feet long, located

approximately 4300 feet west of the

existing Runway 18R–36L; an extension

of Runway 9–27, 2000 feet to the west;

and construction of additional taxiways

or taxiway extensions. Other

improvements include proposed

terminal expansion; proposed aviation

related development; associated road

relocation and construction; and

parking improvements.

The Kenton County Airport Board

conducted numerous workshops and a

public hearing during the development

of the Master Plan Study. To ensure that

the full range of issues related to the

proposed projects are addressed and

that all significant issues are identified,

FAA intends to consult and coordinate

with Federal, State and local agencies

which have jurisdiction by law or have

specific expertise with respect to any

environmental impacts associated with

the proposed projects. The meeting for

public agencies will be held at

Cincinnati/Northern Kentucky

International Airport Board Room,

located on the second level of Terminal

One at the Airport, at 1:00 p.m.,

Tuesday, August 18, 1998. FAA will

also solicit input from the public with

two meetings. The first public scoping

meeting will be Tuesday, August 18,

1998, from 5:00 to 8:00 p.m. at Oak Hills

High School, 3200 Ebenezer Road,

Cincinnati, Ohio, and the second public

scoping meeting will be Wednesday,

August 19, 1998, from 5:00 to 8:00 p.m.

at Conner Middle School, 3300 Cougar

Path, Hebron, Kentucky. In addition to

providing input at the public scoping

meetings, the public may submit written

comments on the scope of the

environmental study to the address

identified in FOR FURTHER INFORMATION

CONTACT. Comments should be

submitted within 30 days of the

publication of this Notice.

Issued on July 9, 1998 in Memphis,

Tennessee.

Charles L. Harris,

Assistant Manager, Memphis Airports District

Office.

[FR Doc. 98–18858 Filed 7–14–98; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice to Prepare an Environmental

Impact Statement and Conduct

Scoping for a Terminal Radar

Approach Control (TRACON) Facility

and Associated Air Traffic Control

(ATC) Procedural Changes in and Near

the Baltimore-Washington

Metropolitan Area

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Notice of intent to prepare an

Environmental Impact Statement and

conduct Scoping meetings.

SUMMARY: The Federal Aviation

Administration is issuing this notice to

advise the public that an Environmental

Impact Statement (EIS) will be prepared

and considered for the consolidation

and construction of a new Terminal

Radar Approach Control (TRACON)

facility in the Baltimore/Washington

area. There are four stand-alone

TRACONs within the study area located

at Baltimore—Washington International

Airport, Ronald Reagan Washington

National Airport, and Washington

Dulles International Airport; and the

FAA operated TRACON located at

Andrews Air Force Base, Maryland. The

Federal Aviation Administration

intends to prepare a tiered

Environmental Impact Statement. The

first tier will address the physical