9838 Federal Register / Vol. 74, No. 43 / Friday, March 6, 2009 / Notices 

Pennsylvania Fund Tax Exempt 

Municipal Investment Trust 

[File No. 811–2326] 

Summary: Applicant, a unit 

investment trust, seeks an order 

declaring that it has ceased to be an 

investment company. On December 15, 

1997, applicant made a liquidating 

distribution to its unitholders, based on 

net asset value. Applicant incurred no 

expenses in connection with the 

liquidation. 

Filing Date: The application was filed 

on January 23, 2009. 

Applicant’s Address: 388 Greenwich 

St., New York, NY 10013. 

Northwest Tax Exempt Bond Fund 

Second & Subsequent Series 

[File No. 811–2442] 

Summary: Applicant, a unit 

investment trust, seeks an order 

declaring that it has ceased to be an 

investment company. On July 17, 1995, 

applicant made a liquidating 

distribution to its unitholders, based on 

net asset value. Applicant incurred no 

expenses in connection with the 

liquidation. 

Filing Date: The application was filed 

on January 23, 2009. 

Applicant’s Address: 388 Greenwich 

St., New York, NY 10013. 

Michigan Fund Tax Exempt Municipal 

Investment Trust 

[File No. 811–2304] 

Summary: Applicant, a unit 

investment trust, seeks an order 

declaring that it has ceased to be an 

investment company. On February 29, 

1996, applicant made a liquidating 

distribution to its unitholders, based on 

net asset value. Applicant incurred no 

expenses in connection with the 

liquidation. 

Filing Date: The application was filed 

on January 23, 2009. 

Applicant’s Address: 388 Greenwich 

St., New York, NY 10013. 

Domini Advisor Trust 

[File No. 811–21653] 

Summary: Applicant, a feeder fund in 

a master-feeder structure, seeks an order 

declaring that it has ceased to be an 

investment company. On November 28, 

2008, each of applicant’s four series 

transferred its assets to a corresponding 

series of Domini Social Investment 

Trust, based on net asset value. 

Expenses of $159,972 incurred in 

connection with the reorganization were 

paid by Domini Social Investments LLC, 

applicant’s investment adviser. 

Filing Date: The application was filed 

on February 13, 2009. 

Applicant’s Address: 536 Broadway, 

7th Floor, New York, NY 10012. 

Domini Institutional Trust 

[File No. 811–7599] 

Summary: Applicant, a feeder fund in 

a master-feeder structure, seeks an order 

declaring that it has ceased to be an 

investment company. On November 28, 

2008, applicant transferred its assets to 

a corresponding series of Domini Social 

Investment Trust, based on net asset 

value. Expenses of $159,972 incurred in 

connection with the reorganization were 

paid by Domini Social Investments LLC, 

investment adviser to applicant’s master 

fund, a series of Domini Social Trust. 

Filing Date: The application was filed 

on February 13, 2009. 

Applicant’s Address: 536 Broadway, 

7th Floor, New York, NY 10012. 

TH Lee, Putnam Investment Trust 

[File No. 811–10373] 

Summary: Applicant, a closed-end 

investment company, seeks an order 

declaring that it has ceased to be an 

investment company. On June 24, 2008, 

applicant made a final liquidating 

distribution to its shareholders, based 

on net asset value. Expenses of 

approximately $113,264 incurred in 

connection with the liquidation were 

paid by applicant. 

Filing Date: The application was filed 

on February 18, 2009. 

Applicant’s Address: One Post Office 

Sq., Boston, MA 02109. 

Old Mutual Insurance Series Fund 

[File No. 811–8009] 

Summary: Applicant seeks an order 

declaring that it has ceased to be an 

investment company. The Board of 

Directors approved the liquidation of 

the Applicant, an open-end 

management company, on August 22, 

2008. Shareholder approval of the 

liquidation was not required. Applicant 

distributed all its assets to shareholders 

on December 15, 2008, except that 

certain assets which were not reduced 

to cash, including rights to amounts 

received in certain securities class 

action litigation, were transferred to a 

liquidating trust and the interests in the 

liquidating trust were distributed to 

shareholders. Total expenses of the 

liquidation are $240,580.50, of which 

$130,000 associated with the 

establishment and maintenance of the 

aforementioned liquidating trust is the 

obligation of Applicant’s investment 

adviser, Old Mutual Capital, Inc. 

(subject to reimbursement from the 

proceeds of distribution from class 

action settlement or tax reclaims 

received by the liquidating trust). The 

balance of $110,580.50, including legal 

expenses of $44,080.50, was paid by 

Applicant prior to the liquidation 

(either directly or through the 

establishment of a reserve account 

maintained by Applicant’s custodian, 

The Bank of New York, Mellon). 

Filing Dates: The application was 

filed on December 24, 2008, and 

amended on February 23, 2009. 

Applicant’s Address: 4643 South 

Ulster Street, Suite 600, Denver, 

Colorado 80237. 

For the Commission, by the Division of 

Investment Management, pursuant to 

delegated authority. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4767 Filed 3–5–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Securities Act of 1933, Release No. 

9010/March 3, 2009; Securities 

Exchange Act of 1934, Release No. 

59487/March 3, 2009; Order Regarding 

Review of FASB Accounting Support 

Fee for 2009 Under Section 109 of the 

Sarbanes-Oxley Act of 2002 

The Sarbanes-Oxley Act of 2002 (the 

‘‘Act’’) provides that the Securities and 

Exchange Commission (the 

‘‘Commission’’) may recognize, as 

generally accepted for purposes of the 

securities laws, any accounting 

principles established by a standard 

setting body that meets certain criteria. 

Consequently, Section 109 of the Act 

provides that all of the budget of such 

a standard setting body shall be payable 

from an annual accounting support fee 

assessed and collected against each 

issuer, as may be necessary or 

appropriate to pay for the budget and 

provide for the expenses of the standard 

setting body, and to provide for an 

independent, stable source of funding, 

subject to review by the Commission. 

Under Section 109(f) of the Act, the 

amount of fees collected for a fiscal year 

shall not exceed the ‘‘recoverable budget 

expenses’’ of the standard setting body. 

Section 109(h) amends Section 13(b)(2) 

of the Securities Exchange Act of 1934 

to require issuers to pay the allocable 

share of a reasonable annual accounting 

support fee or fees, determined in 

accordance with Section 109 of the Act. 

On April 25, 2003, the Commission 

issued a policy statement concluding 

that the Financial Accounting Standards 

Board (‘‘FASB’’) and its parent 

organization, the Financial Accounting 

Foundation (‘‘FAF’’), satisfied the 

criteria for an accounting standard 

mstockstill on PROD1PC66 with NOTICES

Federal Register / Vol. 74, No. 43 / Friday, March 6, 2009 / Notices 9839 

1Financial Reporting Release No. 70. 

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

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A)(iii). 

4 17 CFR 240.19b–4(f)(3). 

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

6 15 U.S.C. 78f(b)(1). 

setting body under the Act, and 

recognizing the FASB’s financial 

accounting and reporting standards as 

‘‘generally accepted’’ under Section 108 

of the Act.1 As a consequence of that 

recognition, the Commission undertook 

a review of the FASB’s accounting 

support fee for calendar year 2009. In 

connection with its review, the 

Commission also reviewed the budget 

for the FAF and the FASB for calendar 

year 2009. 

Section 109 of the Act also provides 

that the standard setting body can have 

additional sources of revenue for its 

activities, such as earnings from sales of 

publications, provided that each 

additional source of revenue shall not 

jeopardize, in the judgment of the 

Commission, the actual or perceived 

independence of the standard setter. In 

this regard, the Commission also 

considered the interrelation of the 

operating budgets of the FAF, the FASB 

and the Governmental Accounting 

Standards Board (‘‘GASB’’), the FASB’s 

sister organization, which sets 

accounting standards used by state and 

local governmental entities. The 

Commission has been advised by the 

FAF that neither the FAF, the FASB nor 

the GASB accept contributions from the 

accounting profession. 

After its review, the Commission 

determined that the 2009 annual 

accounting support fee for the FASB is 

consistent with Section 109 of the Act. 

Accordingly, it is ordered, pursuant to 

Section 109 of the Act, that the FASB 

may act in accordance with this 

determination of the Commission. 

By the Commission. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–4780 Filed 3–5–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59462; File No. SR–CBOE– 

2009–010] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Inc.; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change To Amend Exchange 

Regulatory Circular RG02–101 Issued 

Under Rule 17.50(g)(6)—Imposition of 

Fines for Minor Rule Violations 

February 26, 2009. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that on February 

18, 2009, Chicago Board Options 

Exchange, Inc. filed with the Securities 

and Exchange Commission (the 

‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the Exchange. The 

Exchange filed the proposal pursuant to 

Section 19(b)(3)(A)(iii) of the Act 3 and 

Rule 19b–4(f)(3) thereunder.4 The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Chicago Board Options Exchange, 

Inc. (‘‘CBOE’’ or ‘‘Exchange’’) proposes 

to amend Regulatory Circular RG02–101 

(Violations of Trading Conduct and 

Decorum Policies) issued in accordance 

with Exchange Rule 17.50(g)(6)— 

Imposition of Fines for Minor Rule 

Violations to provide the Exchange with 

the flexibility to allow Exchange 

members and their associated persons to 

bring certain foods and/or drinks to the 

trading floor as set forth by the 

Exchange in a separate Regulatory 

Circular. CBOE is also proposing several 

non-substantive changes. The text of the 

proposed rule change is available on the 

Exchange’s Web site (http:// 

www.cboe.com/Legal), at the Exchange’s 

Office of the Secretary, and at the 

Commission. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization 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 those statements may be examined at 

the places specified in Item IV below 

and is set forth in sections (A), (B), and 

(C) below. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

CBOE is proposing to amend 

Regulatory Circular RG02–101 to enable 

the Exchange to adopt policies 

providing exceptions to the existing 

prohibition of food and drinks on the 

trading floor. In adopting this flexibility, 

the Exchange may notify members 

through a separate Regulatory Circular 

of food or drinks that would be 

permissible on the trading floor and, if 

applicable, any limitations on such 

permissible food and drinks. Violations 

of the food or drink policy would 

continue to be subject to the existing 

fine schedule as set forth in Exhibit 5. 

CBOE is proposing to adopt this 

flexibility to accommodate Members 

and Associated Persons that are unable 

to leave the trading floor during the day. 

CBOE is also proposing several nonsubstantive changes. First, CBOE is 

proposing to remove the previous 

Regulatory Circular number as a new 

number will be assigned when the 

amended circular is issued. In addition, 

CBOE is proposing to update the contact 

information included on the Regulatory 

Circular. In particular, the Exchange is 

proposing issue the circular from its 

Legal Division and Member and 

Regulatory Services Division rather than 

the Floor Officials Committee. Further, 

CBOE is proposing to amend the 

Regulatory Circular to reflect existing 

staff that may be contacted regarding 

questions about the Regulatory Circular 

and remove contact information that is 

no longer current. CBOE is also 

proposing to delete an unnecessary 

comma in the reference to one of the 

earlier circulars listed. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) the Act,5 in general, and 

furthers the objectives of Section 6(b)(1) 

of the Act 6 in particular, to enable the 

Exchange to enforce compliance by its 

members and persons associated with 

its members with the rules of the 

Exchange. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CBOE does not believe that the 

proposed rule change will impose any 

burden on competition not necessary or 

appropriate in furtherance of the 

purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

mstockstill on PROD1PC66 with NOTICES