Federal Register / Vol. 74, No. 45 / Tuesday, March 10, 2009 / Rules and Regulations 10175 

DATES: This correction is effective 

March 10, 2009, and is applicable on 

February 11, 2009. 

FOR FURTHER INFORMATION CONTACT: 

Sean W. Mullaney, (202) 622–3860 (not 

a toll-free number). 

SUPPLEMENTARY INFORMATION: 

Background 

The final and temporary regulations 

that are the subject of this document are 

under sections 367 and 1248 of the 

Internal Revenue Code. 

Need for Correction 

As published Wednesday, February 

11, 2009 (74 FR 6824), final and 

temporary regulations (TD 9444) 

contains an error that may prove to be 

misleading and is in need of 

clarification. 

List of Subjects in 26 CFR Part 1 

Income taxes, Reporting and 

recordkeeping requirements. 

Correction of Publication 

■ Accordingly, 26 CFR part 1 is 

corrected by making the following 

correcting amendment: 

PART 1—INCOME TAXES 

■ Paragraph 1. The authority citation 

for part 1 continues to read in part as 

follows: 

Authority: 26 U.S.C. 7805 *** 

■ Par. 2. Section 1.367(a)–9T is 

amended by revising the paragraph of 

(b)(1) as follows: 

§ 1.367(a)–9T Treatment of deemed 

section 351 exchanges pursuant to section 

304(a)(1) (temporary). 

* * * * * 

(b) * * * 

(1) The gain realized by the United 

States person with respect to the 

transferred stock in connection with the 

deemed section 351 exchange exceeds; 

* * * * * 

Guy Traynor, 

Acting Chief, Publications and Regulations 

Branch, Legal Processing Division, Associate 

Chief Counsel, (Procedure and 

Administration). 

[FR Doc. E9–4995 Filed 3–9–09; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9446] 

RIN 1545–BG09 

Gain Recognition Agreements With 

Respect to Certain Transfers of Stock 

or Securities by United States Persons 

to Foreign Corporations; Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correcting amendment. 

SUMMARY: This document contains a 

correction to final regulations (TD 9446) 

that were published in the Federal 

Register on Wednesday, February 11, 

2009 (74 FR 6952) under section 367(a) 

of the Internal Revenue Code 

concerning gain recognition agreements 

filed by United States persons with 

respect to transfers of stock or securities 

to foreign corporations. 

DATES: This correction is effective 

March 10, 2009, and is applicable on 

February 11, 2009. 

FOR FURTHER INFORMATION CONTACT: S. 

James Hawes, (202) 622–3860 (not a tollfree number). 

SUPPLEMENTARY INFORMATION: 

Background 

The final regulations that are the 

subject of this document are under 

sections 338 and 367 of the Internal 

Revenue Code. 

Need for Correction 

As published, final regulations (TD 

9446) contains an error that may prove 

to be misleading and is in need of 

clarification. 

List of Subjects in 26 CFR Part 1 

Income taxes, Reporting and 

recordkeeping requirements. 

Correction of Publication 

■ Accordingly, 26 CFR part 1 is 

corrected by making the following 

correcting amendment: 

PART 1—INCOME TAXES 

■ Paragraph 1. The authority citation 

for part 1 continues to read in part as 

follows: 

Authority: 26 U.S.C. 7805 * * * 

■ Par. 2. Section 1.367(a)–8 is amended 

by revising paragraph (k)(3) to read as 

follows: 

§ 1.367(a)–8 Gain recognition agreement 

requirements. 

* * * * * 

(k) * * * 

(3) * * * A disposition of the 

transferred stock or securities pursuant 

to an exchange to which section 351, 

354 (but only in a reorganization 

described in section 368(a)(1)(B)), or 721 

applies, shall not constitute a triggering 

event if the U.S. transferor enters in to 

a new gain recognition agreement that 

provides that the dispositions described 

in paragraphs (k)(3)(i) and (ii) of this 

section shall constitute triggering events 

for purposes of the new gain recognition 

agreement. 

* * * * * 

Guy Traynor, 

Acting Chief, Publications and Regulations 

Branch, Legal Processing Division, Associate 

Chief Counsel, (Procedure and 

Administration). 

[FR Doc. E9–4998 Filed 3–9–09; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

38 CFR Part 2 

RIN 2900–AN09 

Delegations of Authority: Regulation 

Policy and Management 

AGENCY: Department of Veterans Affairs. 

ACTION: Final rule. 

SUMMARY: This document amends the 

Department of Veterans Affairs (VA) 

regulations that delegate authority to 

manage, direct, and coordinate VA’s 

rulemaking activities to certain officials. 

The amendments reflect the Secretary of 

Veterans Affairs’ decisions to designate 

the General Counsel as the Department’s 

Regulatory Policy Officer and to transfer 

the Office of Regulation Policy and 

Management to the Office of the General 

Counsel. These amendments are 

intended to provide VA with a single 

point of contact who can respond to the 

Secretary’s rulemaking concerns. 

DATES: Effective Date: March 10, 2009. 

FOR FURTHER INFORMATION CONTACT: 

Robert C. McFetridge, Director, 

Regulation Policy and Management 

(02REG), Office of the General Counsel, 

U.S. Department of Veterans Affairs, 810 

Vermont Avenue, NW., Washington, DC 

20420, telephone (202) 461–4902. (This 

is not a toll-free number.) 

SUPPLEMENTARY INFORMATION: The Office 

of Regulation Policy and Management 

(ORPM) was established to provide 

centralized management and 

coordination for VA’s decentralized 

rulemaking process. The head of ORPM 

was designated as the Assistant to the