61808 Federal Register / Vol. 82, No. 249 / Friday, December 29, 2017 / Notices 

3The requested relief would apply to direct sales 

of shares in Creation Units by a Fund to a Fund of 

Funds and redemptions of those shares. Applicants, 

moreover, are not seeking relief from section 17(a) 

for, and the requested relief will not apply to, 

transactions where a Fund could be deemed an 

Affiliated Person, or a Second-Tier Affiliate, of a 

Fund of Funds because an Adviser or an entity 

controlling, controlled by or under common control 

with an Adviser provides investment advisory 

services to that Fund of Funds. 

connection with certain services, 

transactions, and underwritings, (ii) 

excessive layering of fees, and (iii) 

overly complex fund structures, which 

are the concerns underlying the limits 

in sections 12(d)(1)(A) and (B) of the 

Act. 

8. Applicants request an exemption 

from sections 17(a)(1) and 17(a)(2) of the 

Act to permit persons that are Affiliated 

Persons, or Second-Tier Affiliates, of the 

Funds, solely by virtue of certain 

ownership interests, to effectuate 

purchases and redemptions in-kind. The 

deposit procedures for in-kind 

purchases of Creation Units and the 

redemption procedures for in-kind 

redemptions of Creation Units will be 

the same for all purchases and 

redemptions and Deposit Instruments 

and Redemption Instruments will be 

valued in the same manner as those 

investment positions currently held by 

the Funds. Applicants also seek relief 

from the prohibitions on affiliated 

transactions in section 17(a) to permit a 

Fund to sell its shares to and redeem its 

shares from a Fund of Funds, and to 

engage in the accompanying in-kind 

transactions with the Fund of Funds.3

The purchase of Creation Units by a 

Fund of Funds directly from a Fund will 

be accomplished in accordance with the 

policies of the Fund of Funds and will 

be based on the NAVs of the Funds. 

9. Section 6(c) of the Act permits the 

Commission to exempt any persons or 

transactions from any provision of the 

Act if such exemption is necessary or 

appropriate in the public interest and 

consistent with the protection of 

investors and the purposes fairly 

intended by the policy and provisions of 

the Act. Section 12(d)(1)(J) of the Act 

provides that the Commission may 

exempt any person, security, or 

transaction, or any class or classes of 

persons, securities, or transactions, from 

any provision of section 12(d)(1) if the 

exemption is consistent with the public 

interest and the protection of investors. 

Section 17(b) of the Act authorizes the 

Commission to grant an order 

permitting a transaction otherwise 

prohibited by section 17(a) if it finds 

that (a) the terms of the proposed 

transaction are fair and reasonable and 

do not involve overreaching on the part 

of any person concerned; (b) the 

proposed transaction is consistent with 

the policies of each registered 

investment company involved; and (c) 

the proposed transaction is consistent 

with the general purposes of the Act. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2017–28166 Filed 12–28–17; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #15414 and #15415; 

ALASKA Disaster Number AK–00037] 

Presidential Declaration of a Major 

Disaster for Public Assistance Only for 

the State of Alaska 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of Alaska (FEMA–4351–DR), 

dated 12/20/2017. 

Incident: Severe Storm. 

Incident Period: 09/28/2017 through 

09/30/2017. 

DATES: Issued on 12/20/2017. 

Physical Loan Application Deadline 

Date: 02/19/2018. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 09/20/2018. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing And 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW, Suite 6050, 

Washington, DC 20416, (202) 205–6734. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

12/20/2017, Private Non-Profit 

organizations that provide essential 

services of a governmental nature may 

file disaster loan applications at the 

address listed above or other locally 

announced locations. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties: North Slope Borough. 

The Interest Rates are: 

Percent 

For Physical Damage: 

Non-Profit Organizations With 

Credit Available Elsewhere ... 2.500 

Percent 

Non-Profit Organizations Without Credit Available Elsewhere ..................................... 2.500 

For Economic Injury: 

Non-Profit Organizations Without Credit Available Elsewhere ..................................... 2.500 

The number assigned to this disaster 

for physical damage is 15414B and for 

economic injury is 154150. 

(Catalog of Federal Domestic Assistance 

Number 59008) 

Jerome Edwards, 

Acting Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2017–28162 Filed 12–28–17; 8:45 am] 

BILLING CODE 8025–01–P 

SOCIAL SECURITY ADMINISTRATION 

[Docket No. SSA–2017–0067] 

Rate for Assessment on Direct 

Payment of Fees to Representatives in 

2018 

AGENCY: Social Security Administration 

(SSA). 

ACTION: Notice. 

SUMMARY: We are announcing that the 

assessment percentage rate under the 

Social Security Act (Act), is 6.3 percent 

for 2018. 

FOR FURTHER INFORMATION CONTACT: 

Jeffrey C. Blair, Associate General 

Counsel for Program Law, Office of the 

General Counsel, Social Security 

Administration, 6401 Security 

Boulevard, Baltimore, MD 21235–6401. 

Phone: (410) 965–3157, email 

Jeff.Blair@ssa.gov. 

SUPPLEMENTARY INFORMATION: A 

claimant may appoint a qualified 

individual as a representative to act on 

his or her behalf in matters before the 

Social Security Administration (SSA). If 

the claimant is entitled to past-due 

benefits and was represented either by 

an attorney or by a non-attorney 

representative who has met certain 

prerequisites, the Act provides that we 

may withhold up to 25 percent of the 

past-due benefits and use that money to 

pay the representative’s approved fee 

directly to the representative. 

When we pay the representative’s fee 

directly to the representative, we must 

collect from that fee payment an 

assessment to recover the costs we incur 

in determining and paying 

representatives’ fees. The Act provides 

that the assessment we collect will be 

the lesser of two amounts: A specified 

dollar limit; or the amount determined 


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