Federal Register / Vol. 63, No. 142 / Friday, July 24, 1998 / Notices 39925

4 15 U.S.C. 78q–1(b)(3)(F). 5 17 CFR 200.30–3(a)(12).

and section K is deleted. Section II.F has

been revised to refer to the new defined

term of Mutual Fund/Annuity Services

Members.

Addendum F—(Statement of Policy in

Relation to Same Day Funds Settlement)

Section II is revised to refer to the

new defined term of Mutual Fund/

Annuity Services Members.

Addendum I—(Standards of Financial

Responsibility and Operational

Capability for Fund Members)

The lead-in to this Addendum and the

lead-in to Section I.A. are revised to

clarify that this addendum pertains to

Fund Members.

Addendum Q—(Standards of Financial

Responsibility and Operational

Capability for Annuities Carrier

Members)

The lead-in to Section II is modified

to clarify that the prescribed

information must be furnished by

applicants, in addition to current

Annuities Carrier Members. Additional

modifications which conform to

insurance industry terminology are

made.

NSCC believes that the proposed rule

change is consistent with the

requirements of Section 17A of the Act

and the rules and regulations

thereunder because it provides for the

equitable allocation of dues, fees, and

other charges among NSCC’s members.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

NSCC does not believe that the

proposed rule change will impact or

impose a burden on competition.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants or Others

No written comments have been

solicited or received. NSCC will notify

the Commission of any written

comments received by NSCC.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Section 17A(b)(3)(F) of the Act

requires that the rules of a clearing

agency be designed to remove

impediments to and perfect the

mechanisms of a national system for the

prompt and accurate clearance and

settlement of securities transactions.4

The Commission believes that the rule

change is consistent with this obligation

because the proposal will reduce the

number of memberships an entity

would need to have in order to use MFS

and APS. Because the requirements for

these membership categories are

identical, it is duplicative to require

participants to obtain two separate

memberships to use these services.

Therefore, combining the membership

categories promote efficiencies and

helps promote the development of the

national clearance and settlement

system.

NSCC has requested that the

Commission find good cause for

approving the proposed rule change

prior to the thirtieth day after

publication of the notice of filing. The

Commission finds good cause for

approving the proposed rule change

prior to the thirtieth day after

publication of the notice of filing

because accelerated approval will

permit NSCC to make the Mutual Fund/

Annuity Services membership category

available immediately. Thus, NSCC will

be able to reduce the current

administrative burdens on both itself

and on its participants.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing,

including whether the proposed rule

change is consistent with the Act.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communications relating to the

proposed 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, N.W.,

Washington, D.C. 20549. Copies of such

filing also will be available for

inspection and copying at the principal

office of NSCC. All submissions should

refer to File No. SR–NSCC–98–2 and

should be submitted by August 14,

1998.

It is therefore, ordered, pursuant to

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

proposed rule change (File No. SR–

NSCC–98–2) be and hereby is approved

on an accelerated basis.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.5

Jonathan G. Katz,

Secretary.

[FR Doc. 98–19752 Filed 7–23–98; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

Reporting and Recordkeeping

Requirements Under OMB Review

AGENCY: Small Business Administration.

ACTION: Notice of Reporting

Requirements Submitted for OMB

Review.

SUMMARY: Under the provisions of the

Paperwork Reduction Act (44 U.S.C.

Chapter 35), agencies are required to

submit proposed reporting and

recordkeeping requirements to OMB for

review and approval, and to publish a

notice in the Federal Register notifying

the public that the agency has made

such a submission.

DATES: Submit comments on or before

August 24, 1998. If you intend to

comment but cannot prepare comments

promptly, please advise the OMB

Reviewer and the Agency Clearance

Officer before the deadline.

COPIES: Request for clearance (OMB 83–

1), supporting statement, and other

documents submitted to OMB for

review may be obtained from the

Agency Clearance Officer.

ADDRESSES: Address all comments

concerning this notice to: Agency

Clearance Officer, Jacqueline White,

Small Business Administration, 409 3rd

Street, S.W., 5th Floor, Washington,

D.C. 20416; and OMB Reviewer, Victoria

Wassmer, Office of Information and

Regulatory Affairs, Office of

Management and Budget, New

Executive Office Building, Washington,

D.C. 20503.

FOR FURTHER INFORMATION CONTACT:

Jacqueline White, Agency Clearance

Officer, (202) 205–6629.

SUPPLEMENTARY INFORMATION:

Title: 8(a) Export Survey Initiative.

Form No.: 2068.

Frequency: New Collection.

Description of Respondents: 8(a)

Firms.

Annual Responses: 200.

Annual Burden: 33.

Dated: July 20, 1998.

Jacqueline White,

Chief, Administrative Information Branch.

[FR Doc. 98–19856 Filed 7–23–98; 8:45 am]

BILLING CODE 8025–01–P