Federal Register / Vol. 63, No. 147 / Friday, July 31, 1998 / Notices 40943

must consist of a specific statement of

the issue of law or fact to be raised or

controverted. In addition, the petitioner

shall provide a brief explanation of the

bases of the contention and a concise

statement of the alleged facts or expert

opinion which support the contention

and on which the petitioner intends to

rely in proving the contention at the

hearing. The petitioner must also

provide references to those specific

sources and documents of which the

petitioner is aware and on which the

petitioner intends to rely to establish

those facts or expert opinion. Petitioner

must provide sufficient information to

show that a genuine dispute exists with

the applicant on a material issue of law

or fact. Contentions shall be limited to

matters within the scope of the

amendment under consideration. The

contention must be one which, if

proven, would entitle the petitioner to

relief. A petitioner who fails to file such

a supplement which satisfies these

requirements with respect to at least one

contention will not be permitted to

participate as a party.

Those permitted to intervene become

parties to the proceeding, subject to any

limitations in the order granting leave to

intervene, and have the opportunity to

participate fully in the conduct of the

hearing, including the opportunity to

present evidence and cross-examine

witnesses.

If a hearing is requested, the

Commission will make a final

determination on the issue of no

significant hazards consideration. The

final determination will serve to decide

when the hearing is held.

If the final determination is that the

amendment request involves no

significant hazards consideration, the

Commission may issue the amendment

and make it immediately effective,

notwithstanding the request for a

hearing. Any hearing held would take

place after issuance of the amendment.

If the final determination is that the

amendment request involves a

significant hazards consideration, any

hearing held would take place before

the issuance of any amendment.

A request for a hearing or a petition

for leave to intervene must be filed with

the Secretary of the Commission, U.S.

Nuclear Regulatory Commission,

Washington, DC 20555–0001, Attention:

Rulemakings and Adjudications Staff, or

may be delivered to the Commission’s

Public Document Room, the Gelman

Building, 2120 L Street, NW.,

Washington, DC, by the above date. A

copy of the petition should also be sent

to the Office of the General Counsel,

U.S. Nuclear Regulatory Commission,

Washington, DC 20555–0001, and to

Douglas K. Porter, Esquire, Southern

California Edison Company, P.O. Box

800, Rosemead, California 91770,

attorney for the licensee.

Nontimely filings of petitions for

leave to intervene, amended petitions,

supplemental petitions and/or requests

for hearing will not be entertained

absent a determination by the

Commission, the presiding officer or the

presiding Atomic Safety and Licensing

Board that the petition and/or request

should be granted based upon a

balancing of the factors specified in 10

CFR 2.714(a)(1)(i)–(v) and 2.714(d).

For further details with respect to this

action, see the application for

amendment dated July 22, 1998, which

is available for public inspection at the

Commission’s Public Document Room,

the Gelman Building, 2120 L Street,

NW., Washington, DC, and at the local

public document room located at the

Main Library, University of California,

P.O. Box 19557, Irvine, California

92713.

Dated at Rockville, Maryland, this 27th day

of July, 1998.

For the Nuclear Regulatory Commission.

James W. Clifford,

Senior Project Manager, Project Directorate

IV–2, Division of Reactor Projects III/IV, Office

of Nuclear Reactor Regulation.

[FR Doc. 98–20481 Filed 7–30–98; 8:45 am]

BILLING CODE 7590–01–P

POSTAL SERVICE

Plant-Verified Drop Shipment (PVDS)

Clearance Documents—Revised Form

8125 and New Form 8125–C

AGENCY: Postal Service.

ACTION: Notice.

SUMMARY: This notice adopts revisions

to PS Form 8125, Plant-Verified Drop

Shipment (PVDS) Verification and

Clearance, adopts new Form 8125–C,

Plant-Verified Drop Shipment (PVDS)

Verification and Clearance—

Consolidated, and provides notice of the

elimination of Form 2866–IP, In-Plant

Verification for Second- and FourthClass Matter.

EFFECTIVE DATE: January 10, 1999.

FOR FURTHER INFORMATION CONTACT:

Cheryl Beller, (202) 268–5166.

SUPPLEMENTARY INFORMATION: On April

29, 1998, the Postal Service published

in the Federal Register (63 FR 23479–

23481) proposed revisions to PS Form

8125, Plant-Verified Drop Shipment

(PVDS) Verification and Clearance, and

a new PS Form 8125–C, Plant-Verified

Drop Shipment (PVDS) Verification and

Clearance—Consolidated, intended for

use as a computer-generated facsimile.

The Postal Service also proposed

eliminating PS Form 2866–IP, In-Plant

Verification for Second- and FourthClass Matter, used by some Periodicals

mailers who pay postage through the

Centralized Postage Payment (CPP)

program, and replacing it with PS Form

8125 or Form 8125–C.

Evaluation of Comments Received

There was only one written response

to the proposed revisions. The

commenter noted that information about

mailing piece counts and piece weights

is not available until very late in their

mailing process and suggested that it is

always important to report this

information on Form 8125–C.

Form 8125–C was developed to

establish a standardized format for

reporting multiple PVDS mailings from

an individual mailer that are cleared at

origin on the same day for entry at a

single destination postal facility. Fields

that are not required and that are not

used by the mailer may be omitted. The

‘‘Number of Pieces’’ and ‘‘Piece Weight’’

columns may be omitted if there is

sufficient information on the Form

8125–C to allow the origin post office

and destination entry postal facility to

identify the mailings reported on the

form and to compare the information on

the form with the physical mail.

For example, if mailings are prepared

in containers such as sacks or pallets,

information in the columns related to

the permit holder, permit number, and

payment type; postage statement

number or group identification; product

name; number and type of containers;

total gross weight; and class and type of

mail would be sufficient to allow both

the origin and entry postal facilities to

compare the mail to the Form 8125–C to

ensure that the information on it

correctly represents the mail. If,

however, the mailer is reporting

multiple mailings that consist of

individual mailpieces that are not

prepared in containers (e.g., bedloaded

parcels), the mailer would be required

to report the number of pieces in each

mailing on Form 8125–C. For mailings

consisting of identical weight pieces,

mailers should report the piece weight

where possible.

Facsimile Forms 8125 and 8125–C

must contain all required data elements

in the same relative locations as the

Postal Service forms appearing on the

Postal Web site and in the Postal

Bulletin notice that will be published to

announce the use of the new forms (PB

21977, July 30, 1998).
40944 Federal Register / Vol. 63, No. 147 / Friday, July 31, 1998 / Notices

Availability of Forms

The Postal Service expects the revised

hard copy PS Form 8125 to be available

to mailers this summer from local post

offices. The Postal Service is not

printing a hard copy Form 8125–C. Both

Form 8125 and Form 8125–C will be

available on the U.S. Postal Service

website at <www.usps.com> use by

mailers in creating facsimile documents.

A future Postal Bulletin article will

include both forms and language

revising references to these forms in the

Domestic Mail Manual.

Date of Use

Mailers are encouraged to begin using

facsimiles of the revised PS Form 8125

and the new PS Form 8125–C facsimile

(July 1998) immediately. Effective

January 10, 1999, mailers must use only

the July 1998 versions of Forms 8125

and 8125–C. Also effective January 10,

1999, Periodicals mailers may no longer

use Form 2866–IP, In-Plant Verification

for Second-and Fourth-Class Matter, for

publications paid under the CPP system.

Stanley F. Mires,

Chief Counsel, Legislative.

[FR Doc. 98–20520 Filed 7–30–98; 8:45 am]

BILLING CODE 7710–12–P

SECURITIES AND EXCHANGE

COMMISSION

[Investment Company Act Rel. No. 23331;

International Series Rel. No. 1148; 812–

11026]

Industrial Development Bank of India;

Notice of Application

July 24, 1998.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of an application under

section 6(c) of the Investment Company

Act of 1940 (‘‘Act’’) for an exemption

from all provisions of the Act.

SUMMARY OF THE APPLICATION: Applicant

Industrial Development Bank of India

(‘‘IDBI’’), an industrial development

financial institution, requests an order

exempting it from all provisions of the

Act in connection with the offer and

sale of its securities in the United States.

FILING DATES: The application was filed

on February 24, 1998. Applicants have

agreed to file an amendment, the

substance of which is included in this

notice, during the notice period.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the SEC orders a hearing.

Interested persons may request a

hearing by writing to the SEC’s

Secretary and serving applicant with a

copy of the request, personally or by

mail. Hearing requests should be

received by the SEC by 5:30 p.m. on

August 18, 1998, and should be

accompanied by proof of service on

applicant in the form of an affidavit or,

for lawyers, a certificate of service.

Hearing requests should state the nature

of the writer’s interest, the reason for the

request, and the issues contested.

Persons may request notification by

writing to the SEC’s Secretary.

ADDRESSES: Secretary, SEC, 450 Fifth

Street, N.W., Washington, D.C. 20549.

Applicant, c/o Davis Polk & Wardwell,

450 Lexington Avenue, New York, NY

10017, Attn: Pierre de Saint Phalle.

FOR FURTHER INFORMATION CONTACT:

Rachel H. Graham, Senior Counsel,

Christine Y. Greenlees, Branch Chief,

(202) 942–0564 (Division of Investment

Management, Office of Investment

Company Regulation).

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application. The complete application

may be obtained for a fee from the SEC’s

Public Reference Branch, 450 Fifth

Street, N.W., Washington, D.C. 20549

(telephone (202) 942–8090).

Applicant’s Representations

1. Applicant, a specialized

development bank, was established in

1964 by the government of India

(‘‘Government’’) pursuant to the

Industrial Development Bank of India

Act (‘‘IDBI Act’’). Applicant states that

it is the largest industrial development

financial institution in India and is a

charge of coordinating the activities of

all institutions engaged in the financing,

promotion, or development of industry

throughout India. 2. IDBI has been designated as a

Development Bank under the IDBI Act.

As a result, IDBI’s financing objectives

are largely influenced by Government

policies. IDBI also has been designated

as a Public Financial Institution under

the Indian Companies Act of 1956,

which entitles it to certain benefits

under the tax code and other laws.

3. IDBI primarily provides direct

financing to traditional (e.g.,

manufacturing) and non-traditional

(e.g., tourism) enterprises for the

establishment, expansion,

diversification, and modernization of

medium and large-scale industrial

projects. IDBI’s other direct financing

activities include equipment loans and

leasing, asset credit, direct discounting

of bills of exchange and promissory

notes, foreign exchange loans, long-term

working capital loans, venture capital

financing, and short-term general

corporate financing. IDBI also provides

indirect assistance, such as loan

refinancing, through banks and various

regional financial institutions. IDBI

generally does not acquire loans or

investments in the secondary market

and has traditionally held its loans and

investments until their maturity.

4. Under the IDBI Act, IDBI has had

access to low cost funds from the

Government and the Reserve Bank of

India (‘‘RBI’’) for the purpose of granting

loans at concessional rates. IDBI also

has borrowed, directly and indirectly,

from such institutions as the World

Bank and the Asian Development Bank,

and it has contracted lines of credit with

the Export-Import Bank of Japan and

Government-sponsored export credit

agencies through European banks.

5. IDBI’s credit exposure to individual

companies or business groups is kept

below ceilings mandated by the RBI for

Public Financial Institutions (such as

IDBI) and for commercial banks. In

addition, IDBI generally does not bear

any exchange rate risk with respect to

its foreign currency loans, because it

matches the currency of the loans with

its sources of funds. In certain cases, the

Government bears the exchange rate risk

either as primary borrower under loans

from multilateral agencies or under

government-sponsored exchange risk

pools.

6. In addition to its lending activities,

IDBI underwrites securities issued by

industrial concerns and, to some extent,

subscribes directly to their capital

issues. Through its in-house merchant

banking division, IDBI provides feebased services such as capital market

issue management, loan/guarantee

syndication, and advisory services for

corporate restructuring, mergers, and

acquisitions. IDBI also offers foreign

exchange and debenture trustee

services. In addition, due to

deregulation of the Indian financial

sector, IDBI has established separate

subsidiaries to engage in commercial

banking, stockbroking, and asset

management.

7. IDBI is administered in accordance

with the provisions of the IDBI Act as

well as other provisions of Indian law

applicable to business enterprises. IDBI

also is subject to extensive regulations

by both the RBI and the Securities and

Exchange Board of India (‘‘SEBI’’). The

RBI regulates IDBI as a Public Financial

Institution and not as a banking

institution or trust company.

Specifically, the RBI regulates IDBI’s

commercial lending, issuance of

certificates of deposit and finance letters

of credit, and foreign currency trading.

IDBI adheres to RBI-issued capital

adequacy guidelines for non-bank

financial institutions, which are