Federal Register / Vol. 74, No. 40 / Tuesday, March 3, 2009 / Notices 9317 

1Request of the United States Postal Service to 

Add Express Mail & Priority Mail Contract 5 to 

Competitive Product List and Notice of 

Establishment of Rates and Class Not of General 

Applicability, February 20, 2009 (Request). 

2Attachment A to the Request consists of the 

redacted Decision of the Governors of the United 

States Postal Service on Establishment of Rate and 

Class Not of General Applicability for Express Mail 

and Priority Mail Services (Governors’ Decision No. 

09–3). The Governors’ Decision includes an 

attachment which provides an analysis of the 

proposed Express Mail and Priority Mail Contract 

5 and certification of the Governors’ vote. 

Attachment B is the redacted version of the 

contract. Attachment C shows the requested 

changes to the Mail Classification Schedule product 

list. Attachment D provides a statement of 

supporting justification for the Request. Attachment 

E provides the certification of compliance with 39 

U.S.C. 3633(a). 

and Communications, Expedited 

Shipping, asserts that the service to be 

provided under the contract will cover 

its attributable costs, make a positive 

contribution to institutional costs, and 

increase contribution toward the 

requisite 5.5 percent of the Postal 

Service’s total institutional costs. Id., 

Attachment D. Thus, Ms. Parks 

contends there will be no issue of 

subsidization of competitive products 

by market dominant products as a result 

of this contract. Id. 

Related contract. A redacted version 

of the specific Express Mail & Priority 

Mail Contract 4 is included with the 

Request. The contract is for 3 years and 

is to be effective 1 day after the 

Commission provides all necessary 

regulatory approvals. The Postal Service 

represents that the contract is consistent 

with 39 U.S.C. 3633(a) and 39 CFR 

3015.7(c). See id., Attachment A and 

Attachment E. It notes that actual 

performance under this contract could 

vary from estimates, but concludes that 

the risks are manageable. Id., 

Attachment A. 

The Postal Service filed much of the 

supporting materials, including the 

Governors’ Decision and the specific 

Express Mail & Priority Mail Contract 4, 

under seal. In its Request, the Postal 

Service maintains that the contract and 

related financial information, including 

the customer’s name and the 

accompanying analyses that provide 

prices, terms, conditions, and financial 

projections should remain under seal. 

Id. at 2–3. 

II. Notice of Filings 

The Commission establishes Docket 

Nos. MC2009–17 and CP2009–24 for 

consideration of the Request pertaining 

to the proposed Express Mail & Priority 

Mail Contract 4 product and the related 

contract, respectively. In keeping with 

practice, these dockets are addressed on 

a consolidated basis for purposes of this 

order; however, future filings should be 

made in the specific docket in which 

issues being addressed pertain. 

Interested persons may submit 

comments on whether the Postal 

Service’s filings in the captioned 

dockets are consistent with the policies 

of 39 U.S.C. 3632, 3633, or 3642 and 39 

CFR part 3015 and 39 CFR 3020 subpart 

B. Comments are due no later than 

March 4, 2009. The public portions of 

these filings can be accessed via the 

Commission’s Web site (http:// 

www.prc.gov). 

The Commission appoints Paul L. 

Harrington to serve as Public 

Representative in these dockets. 

III. Ordering Paragraphs 

It is Ordered: 

1. The Commission establishes Docket 

Nos. MC2009–17 and CP2009–24 for 

consideration of the matters raised in 

each docket. 

2. Pursuant to 39 U.S.C. 505, Paul L. 

Harrington is appointed to serve as 

officer of the Commission (Public 

Representative) to represent the 

interests of the general public in these 

proceedings. 

3. Comments by interested persons in 

these proceedings are due no later than 

March 4, 2009. 

4. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Steven W. Williams, 

Secretary. 

[FR Doc. E9–4414 Filed 3–2–09; 8:45 am] 

BILLING CODE 7710–FW–P 

POSTAL REGULATORY COMMISSION 

[Docket Nos. MC2009–18 and CP2009–25; 

Order No. 185] 

New Competitive Postal Product 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is noticing a 

recently-filed Postal Service request to 

add Express Mail & Priority Mail 

Contract Mail 5 to the Competitive 

Product List. The Postal Service has also 

filed a related contract. This notice 

addresses procedural steps associated 

with these filings. 

DATES: Comments are due March 4, 

2009. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at http:// 

www.prc.gov. 

FOR FURTHER INFORMATION CONTACT: 

Stephen L. Sharfman, General Counsel, 

202–789–6820 and 

stephen.sharfman@prc.gov. 

SUPPLEMENTARY INFORMATION: 

I. Introduction 

On February 20, 2009, the Postal 

Service filed a formal request pursuant 

to 39 U.S.C. 3642 and 39 CFR 3020.30 

et seq. to add Express Mail & Priority 

Mail Contract 5 to the Competitive 

Product List.1 The Postal Service asserts 

that the Express Mail & Priority Mail 

Contract 5 product is a competitive 

product ‘‘not of general applicability’’ 

within the meaning of 39 U.S.C. 

3632(b)(3). Request at 1. The Request 

has been assigned Docket No. MC2009– 

18. 

The Postal Service 

contemporaneously filed a contract 

related to the proposed new product 

pursuant to 39 U.S.C. 3632(b)(3) and 39 

CFR 3015.5. The contract has been 

assigned Docket No. CP2009–25. 

Request. The Request incorporates (1) 

A redacted version of the Governors’ 

Decision authorizing the new product; 

(2) a redacted version of the contract; (3) 

requested changes in the Mail 

Classification Schedule product list; (4) 

a statement of supporting justification as 

required by 39 CFR 3020.32; and (5) 

certification of compliance with 39 

U.S.C. 3633(a).2 Substantively, the 

Request seeks to add Express Mail & 

Priority Mail Contract 5 to the 

Competitive Product List. Request at 1– 

2. 

In the statement of supporting 

justification, Kim Parks, Manager, Sales 

and Communications, Expedited 

Shipping, asserts that the service to be 

provided under the contract will cover 

its attributable costs, make a positive 

contribution to institutional costs, and 

increase contribution toward the 

requisite 5.5 percent of the Postal 

Service’s total institutional costs. Id., 

Attachment D. Thus, Ms. Parks 

contends there will be no issue of 

subsidization of competitive products 

by market dominant products as a result 

of this contract. Id. 

Related contract. A redacted version 

of the specific Express Mail & Priority 

Mail Contract 5 is included with the 

Request. The contract is for 3 years and 

is to be effective 1 day after the 

Commission provides all necessary 

regulatory approvals. The Postal Service 

represents that the contract is consistent 

with 39 U.S.C. 3633(a) and 39 CFR 

3015.7(c). See id., Attachment A and 

Attachment E. It notes that actual 

performance under this contract could 

vary from estimates, but concludes that 

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9318 Federal Register / Vol. 74, No. 40 / Tuesday, March 3, 2009 / Notices 

1 44 U.S.C. 3501–3520. 

2The rule defines a Financial Intermediary as: (i) 

Any broker, dealer, bank, or other person that holds 

securities issued by the fund in nominee name; (ii) 

a unit investment trust or fund that invests in the 

fund in reliance on section 12(d)(i)(E) of the Act; 

and (iii) in the case of a participant directed 

employee benefit plan that owns the securities 

issued by the fund, a retirement plan’s 

administrator under section 316(A) of the Employee 

Retirement Security Act of 1974 (29 U.S.C. 

1002(16)(A) or any person that maintains the plans’ 

participant records. Financial Intermediary does not 

include any person that the fund treats as an 

individual investor with respect to the fund’s 

policies established for the purpose of eliminating 

or reducing any dilution of the value of the 

outstanding securities issued by the fund. Rule 22c– 

2(c)(1). 

the risks are manageable. Id., 

Attachment A. 

The Postal Service filed much of the 

supporting materials, including the 

Governors’ Decision and the specific 

Express Mail & Priority Mail Contract 5, 

under seal. In its Request, the Postal 

Service maintains that the contract and 

related financial information, including 

the customer’s name and the 

accompanying analyses that provide 

prices, terms, conditions, and financial 

projections should remain under seal. 

Id. at 2–3. 

II. Notice of Filings 

The Commission establishes Docket 

Nos. MC2009–18 and CP2009–25 for 

consideration of the Request pertaining 

to the proposed Express Mail & Priority 

Mail Contract 5 product and the related 

contract, respectively. In keeping with 

practice, these dockets are addressed on 

a consolidated basis for purposes of this 

order; however, future filings should be 

made in the specific docket in which 

issues being addressed pertain. 

Interested persons may submit 

comments on whether the Postal 

Service’s filings in the captioned 

dockets are consistent with the policies 

of 39 U.S.C. 3632, 3633, or 3642 and 39 

CFR part 3015 and 39 CFR 3020 subpart 

B. Comments are due no later than 

March 4, 2009. The public portions of 

these filings can be accessed via the 

Commission’s Web site (http:// 

www.prc.gov). 

The Commission appoints Paul L. 

Harrington to serve as Public 

Representative in these dockets. 

III. Ordering Paragraphs 

It is Ordered: 

1. The Commission establishes Docket 

Nos. MC2009–18 and CP2009–25 for 

consideration of the matters raised in 

each docket. 

2. Pursuant to 39 U.S.C. 505, Paul L. 

Harrington is appointed to serve as 

officer of the Commission (Public 

Representative) to represent the 

interests of the general public in these 

proceedings. 

3. Comments by interested persons in 

these proceedings are due no later than 

March 4, 2009. 

4. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Steven W. Williams, 

Secretary. 

[FR Doc. E9–4415 Filed 3–2–09; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Rule 22c–2; SEC File No. 270–541; OMB 

Control No. 3235–0620. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.) the Securities 

and Exchange Commission (the 

‘‘Commission’’) has submitted to the 

Office of Management and Budget a 

request for extension of the previously 

approved collection of information 

discussed below. 

Rule 22c–2 (17 CFR 270.22c–2 

‘‘Mutual Fund Redemption Fees’’) 

under the Investment Company Act of 

1940 (15 U.S.C. 80a) (the ‘‘Investment 

Company Act’’ or ‘‘Act’’) requires the 

board of directors (including a majority 

of independent directors) of most 

registered investment companies 

(‘‘funds’’) to either approve a 

redemption fee of up to two percent or 

determine that imposition of a 

redemption fee is not necessary or 

appropriate for the fund. Rule 22c–2 

also requires a fund to enter into written 

agreements with their financial 

intermediaries (such as broker-dealers 

and retirement plan administrators) 

under which the fund, upon request, 

can obtain certain shareholder identity 

and trading information from the 

intermediaries. The written agreement 

must also allow the fund to direct the 

intermediary to prohibit further 

purchases or exchanges by specific 

shareholders that the fund has 

identified as being engaged in 

transactions that violate the fund’s 

market timing policies. These 

requirements enable funds to obtain the 

information that they need to monitor 

the frequency of short-term trading in 

omnibus accounts and enforce their 

market timing policies. 

The rule includes three ‘‘collections 

of information’’ within the meaning of 

the Paperwork Reduction Act of 1995 

(‘‘PRA’’).1 First, the rule requires boards 

to either approve a redemption fee of up 

to two percent or determine that 

imposition of a redemption fee is not 

necessary or appropriate for the fund. 

Second, funds must enter into 

information sharing agreements with all 

of their ‘‘financial intermediaries’’ 2 and 

maintain a copy of the written 

information sharing agreement with 

each intermediary in an easily 

accessible place for six years. Third, 

pursuant to the information sharing 

agreements, funds must have systems 

that enable them to request frequent 

trading information upon demand from 

their intermediaries, and to enforce any 

restrictions on trading required by funds 

under the rule. 

The collections of information created 

by Rule 22c–2 are necessary for funds to 

effectively assess redemption fees, 

enforce their policies in frequent 

trading, and monitor short-term trading, 

including market timing, in omnibus 

accounts. These collections of 

information are mandatory for funds 

that redeem shares within seven days of 

purchase. The collections of information 

also are necessary to allow Commission 

staff to fulfill its examination and 

oversight responsibilities. 

Rule 22c–2(a)(1) requires the board of 

directors of all registered investment 

companies and series thereof (except for 

money market funds, ETFs, or funds 

that affirmatively permit short-term 

trading of its securities) to approve a 

redemption fee for the fund, or instead 

make a determination that a redemption 

fee is either not necessary or appropriate 

for the fund. Commission staff 

understands that the boards of all funds 

currently in operation have undertaken 

this process for the funds they currently 

oversee, and the rule does not require 

boards to review this determination 

periodically once it has been made. 

Accordingly, we expect that only boards 

of newly registered funds or newly 

created series thereof would undertake 

this determination. Commission staff 

estimates that approximately 300 funds 

or series thereof (excluding money 

market funds and ETFs) are newly 

formed each year and would need to 

make this determination. 

Commission staff estimates that it 

takes approximately 2 hours of the 

boards’ time, as a whole, to approve a 

mstockstill on PROD1PC66 with NOTICES