Federal Register / Vol. 60, No. 87 / Friday, May 5, 1995 / Rules and Regulations 22255

employee, or spouse or minor child of

a covered OTS employee, from retaining

a loan from an OTS-regulated savings

association on its original terms if the

loan was incurred prior to April 30,

1991, or employment by the OTS,

whichever date is later, or as a result of

the sale or transfer of the loan to a

savings association or the conversion or

merger of the lender into an OTSregulated savings association. Any

renewal or renegotiation of a preexisting loan or extension of credit is

covered by paragraphs (c)(1) and (c)(2)

of this section.

(d) Restrictions arising from third

party relationships. If any of the entities

listed in paragraphs (d)(1) through (d)(7)

of this section have securities that a

covered OTS employee would be

prohibited from having by paragraph (b)

of this section, or loans or extensions of

credit that a covered OTS employee

would be prohibited from obtaining

under paragraph (c) of this section, the

employee shall promptly report such

interests to the Chief Counsel or

designee. The Chief Counsel or designee

may require the employee to terminate

the third party relationship, undertake

an appropriate disqualification, or take

other appropriate action necessary,

under the particular circumstances, to

avoid a statutory violation or a violation

of part 2635 of this title or this part,

including an appearance of misuse of

position or loss of impartiality. This

paragraph (d) applies to any:

(1) Partnership in which the

employee, or spouse or minor child of

the employee, is a general partner;

(2) Partnership in which the

employee, or spouse or minor child of

the employee, individually or jointly

holds more than a 10 percent limited

partnership interest;

(3) Closely held corporation in which

the employee, or spouse or minor child

of the employee, individually or jointly

holds more than a 10 percent equity

interest;

(4) Trust in which the employee, or

spouse or minor child of the employee,

has a legal or beneficial interest;

(5) Investment club or similar

informal investment arrangement

between the employee, or spouse or

minor child of the employee, and

others;

(6) Qualified profit sharing, retirement

or similar plan in which the employee,

or spouse or minor child of the

employee, has an interest; or

(7) Other entity if the employee, or

spouse or minor child of the employee,

individually or jointly holds more than

a 25 percent equity interest.

(e) Prohibited recommendations.

Employees of the OTS shall not make

recommendations or suggestions,

directly or indirectly, concerning the

acquisition or sale, or other divestiture

of securities of any OTS-regulated

savings association or savings

association holding company.

(f) Prohibited purchase of assets. No

covered OTS employee, or spouse or

minor child of a covered OTS employee,

shall purchase, directly or indirectly, an

asset (e.g., real property, automobiles,

furniture, or similar items) from a

savings association or savings

association affiliate, including a savings

association holding company, unless it

is sold at a public auction or by other

means which assure that the selling

price is the asset’s fair market value.

(g) Waivers. An agency designee may

grant a written waiver from any

provision of this section based on a

determination made with the advice and

legal clearance of the DAEO or Office of

the Chief Counsel that the waiver is not

inconsistent with part 2635 of this title

or otherwise prohibited by law and that,

under the particular circumstances,

application of the prohibition is not

necessary to avoid the appearance of

misuse of position or loss of

impartiality, or otherwise to ensure

confidence in the impartiality and

objectivity with which agency programs

are administered. A waiver under this

paragraph may impose appropriate

conditions, such as requiring execution

of a written disqualification.

§ 3101.110 Additional rules for United

States Customs Service employees.

The following rules apply to the

employees of the United States Customs

Service and are in addition to

§§ 3101.101 through 3101.104:

(a) Prohibition on outside

employment. No employee of the USCS

shall work for a customs broker,

international carrier, bonded

warehouse, foreign trade zone, cartman,

law firm engaged in the practice of

customs law or importation department

of a business, nor be employed in any

private capacity related to the

importation or exportation of

merchandise.

(b) Restrictions arising from

employment of relatives. If the spouse of

a USCS employee, or other relative who

is dependent on or resides with a USCS

employee, is employed in a position

that the employee would be prohibited

from occupying by paragraph (a) of this

section, the employee shall file a report

of family member employment with his

or her supervisor. Supervisors shall

forward such reports to the appropriate

Regional Counsel for transmittal to the

Chief Counsel. The employee shall be

disqualified from participation in any

matter involving the relative or the

relative’s employer unless an agency

designee, with the advice and legal

clearance of the DAEO or Office of the

Chief Counsel, authorizes the employee

to participate in the matter using the

standard in § 2635.502(d) of this title.

§ 3101.111 Additional rules for United

States Secret Service employees.

[Reserved]

[FR Doc. 95–10941 Filed 5–4–95; 8:45 am]

BILLING CODE 4810–25–P

DEPARTMENT OF AGRICULTURE

Agricultural Marketing Service

7 CFR Part 1036

[DA–95–13]

Milk in the Eastern Ohio-Western

Pennsylvania Marketing Area;

Termination of Certain Provisions of

the Order

AGENCY: Agricultural Marketing Service,

USDA.

ACTION: Final rule.

SUMMARY: This rule terminates the

advertising and promotion provisions of

the Eastern Ohio-Western Pennsylvania

Federal milk order. Termination of the

provisions was requested by several

associations of dairy farmers whose

milk is pooled under the order. Two

comments were filed in response to the

proposed termination, and both were in

favor of terminating these provisions.

Termination eliminates redundant

expenses in administering regional

advertising and promotion programs

without affecting producers’

participation.

EFFECTIVE DATE: Amendments 2 and 3

(§§ 1036.73 and 1036.105 through

1036.121) are effective July 1, 1995.

Amendment 4 (§ 1036.122) is effective

August 1, 1995.

FOR FURTHER INFORMATION CONTACT:

Constance M. Brenner, Marketing

Specialist, USDA/AMS/Dairy Division,

Order Formulation Branch, Room 2971,

South Building, P.O. Box 96456,

Washington, DC 20090–6456, (202) 720–

2357.

SUPPLEMENTARY INFORMATION: Prior

document in this proceeding:

Notice of Proposed Termination:

Issued March 21, 1995; published

March 24, 1995 (60 FR 15523).

The Regulatory Flexibility Act (5

U.S.C. 601–612) requires the Agency to

examine the impact of a proposed rule

on small entities. Pursuant to 5 U.S.C.

605(b), the Administrator of the

Agricultural Marketing Service has
22256 Federal Register / Vol. 60, No. 87 / Friday, May 5, 1995 / Rules and Regulations

certified that this rule will not have a

significant economic impact on a

substantial number of small entities.

This rule lessens the regulatory impact

of the order on dairy farmers and will

not affect milk handlers.

The Department is issuing this rule in

conformance with Executive Order

12866.

This final rule has been reviewed

under Executive Order 12778, Civil

Justice Reform. This rule is not intended

to have a retroactive effect. This rule

will not preempt any state or local laws,

regulations, or policies, unless they

present an irreconcilable conflict with

this rule.

The Agricultural Marketing

Agreement Act of 1937, as amended (7

U.S.C. 601–674), provides that

administrative proceedings must be

exhausted before parties may file suit in

court. Under section 608c(15)(A) of the

Act, any handler subject to an order may

file with the Secretary a petition stating

that the order, any provisions of the

order, or any obligation imposed in

connection with the order is not in

accordance with the law and requesting

a modification of an order or to be

exempted from the order. A handler is

afforded the opportunity for a hearing

on the petition. After a hearing, the

Secretary would rule on the petition.

The Act provides that the district court

of the United States in any district in

which the handler is an inhabitant, or

has its principal place of business, has

jurisdiction in equity to review the

Secretary’s ruling on the petition,

provided a bill in equity is filed not

later than 20 days after the date of the

entry of the ruling.

This order of termination is issued

pursuant to the provisions of the

Agricultural Marketing Agreement Act

and of the order regulating the handling

of milk in the Eastern Ohio-Western

Pennsylvania marketing area.

Notice of proposed rulemaking was

published in the Federal Register on

March 24, 1995 (60 FR 15523)

concerning a proposed termination of

certain provisions of the order.

Interested persons were afforded an

opportunity to file written data, views

and arguments thereon. Two comments

supporting (and none opposing) the

proposed termination were received.

After consideration of all relevant

material, including the proposal in the

notice, the comments received, and

other available information, it is hereby

found and determined that the

following provisions of the order do not

tend to effectuate the declared policy of

the Act:

Sections 1036.105 through 1036.122,

the undesignated center heading

preceding them, and the reference to

these provisions in § 1036.73.

Statement of Consideration

This rule terminates the advertising

and promotion provisions of the Eastern

Ohio-Western Pennsylvania Federal

milk order. Milk Marketing Inc. (MMI),

Dairylea Cooperative Inc., and TriCounty Producers Cooperative, all

associations of dairy farmers whose

milk is pooled on the Eastern OhioWestern Pennsylvania Federal milk

order, requested termination of the

provisions.

The cooperatives stated that the

primary purpose of these provisions, at

the time of their implementation, was to

increase producer participation in the

advertising and promotion of milk and

dairy products. However, the Dairy and

Tobacco Adjustment Act of 1983

mandated that all dairy farmers

contribute to such activities through a

national program that includes all

Federal order marketing areas (7 CFR

part 1150). The cooperatives asserted

that the advertising and promotion

provisions of the order are redundant

and create unnecessary expenses in

view of the existence of qualified

regional programs that are funded under

the national advertising and promotion

program. The efficiency and

effectiveness of producer funds would

be enhanced with termination of the

Federal order advertising and promotion

provisions. Thus, the cooperatives

requested removal of the advertising

and promotion provisions to eliminate

administrative costs without affecting

the integrity of the Federal order

program or the national Dairy

Promotion Program.

Comments favoring the termination of

the provisions were received from

National Farmers Organization (NFO)

and a dairy farmer whose milk is pooled

on Order 36. NFO reiterated the

comments made by the three proponent

cooperatives. The dairy farmer’s

comments favored the proposed

termination of the provisions.

The advertising and promotion

provisions of the Eastern Ohio-Western

Pennsylvania Federal order should be

terminated. Termination of the aforesaid

sections of Order 36 would reduce

administrative costs of the Order, while

funding for dairy research and

promotion would be maintained via 7

CFR part 1150, the Dairy Promotion

Program. In addition, producers whose

milk is pooled under the order support

elimination of these provisions.

Section 608c(16)(A) of the Act

authorizing Federal milk orders

provides that any order provisions may

be terminated separately whenever the

Secretary makes a determination that

such provisions obstruct or do not tend

to effectuate the declared policy of the

Act.

Therefore, the aforesaid provisions of

the order are hereby terminated.

List of Subjects in 7 CFR Part 1036

Milk marketing orders.

For the reasons set forth in the

preamble, the following provisions in

Title 7, Part 1036, are amended as

follows:

PART 1036—MILK IN THE EASTERN

OHIO-WESTERN PENNSYLVANIA

MARKETING AREA

1. The authority citation for 7 CFR

Part 1036 continues to read as follows:

Authority: 7 U.S.C. 601–674.

§ 1036.73 [Amended]

2. In § 1036.73, paragraph (a)(2)(iii) is

amended, effective July 1, 1995, by

adding the word ‘‘and’’, and paragraph

(a)(2)(iv) is removed and reserved.

§§ 1036.105 through 1036.121 [Removed]

3. Sections 1036.105 through

1036.121 are removed, effective July 1,

1995.

§ 1036.122 [Removed]

4. Section 1036.122 and the

undesignated center heading preceding

it are removed, effective August 1, 1995.

Dated: May 1, 1995.

David R. Shipman,

Acting Deputy Assistant Secretary, Marketing

and Regulatory Programs.

[FR Doc. 95–11042 Filed 5–4–95; 8:45 am]

BILLING CODE 3410–02–P

FEDERAL RESERVE SYSTEM

12 CFR Part 265

[Docket No. R–0877]

Rules Regarding Delegation of

Authority

AGENCY: Board of Governors of the

Federal Reserve System.

ACTION: Final rule.

SUMMARY: The Board is amending its

delegation rules to allow Federal

Reserve Banks to approve certain public

welfare investments by state member

banks under the Board’s Regulation H.

This amendment should provide for

more expeditious processing of these

requests.

EFFECTIVE DATE: June 5, 1995.

FOR FURTHER INFORMATION CONTACT:

Stephanie Martin, Senior Attorney

(202–452–3198), Legal Division; Sandra