[Federal Register Volume 65, Number 78 (Friday, April 21, 2000)]
[Notices]
[Pages 21397-21398]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-9993]


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DEPARTMENT OF COMMERCE

International Trade Administration


Export Trade Certificate of Review

AGENCY: International Trade Administration, Commerce.

ACTION: Notice of Revocation of Export Trade Certificate of Review 
No.89-00008.

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SUMMARY: The Secretary of Commerce issued an export trade certificate 
of review to FEXCORP. Because this certificate holder has failed to 
file an annual report as required by law, the Secretary is revoking the 
certificate. This notice summarizes the notification letter sent to 
FEXCORP.

FOR FURTHER INFORMATION CONTACT: Morton Schnabel, Director, Office of 
Export Trading Company Affairs, International Trade Administration, 
202/482-5131. This is not a toll-free number.

SUPPLEMENTARY INFORMATION: Title III of the Export Trading Company Act 
of 1982 (``the Act'') (Pub. L. No. 97-290, 15 U.S.C. 4011-21) 
authorizes the Secretary of Commerce to issue export trade certificates 
of review. The regulations implementing Title III (``the Regulations'') 
are found at 15 CFR part 325 (1997). Pursuant to this authority, a 
certificate of review was issued on June 12, 1989 to FEXCORP.
    A certificate holder is required by law to submit to the Department 
of Commerce annual reports that update financial and other information 
relating to business activities covered by its certificate (Section 308 
of the Act, 15 U.S.C. 4018, Section 235.14(a) of the Regulations, 15 
CFR 325.14(a)). The annual report is due within 45 days after the 
anniversary date of the issuance of the certificate of review (Sections 
325.14(b) of the Regulations, 15 CFR 325.14 (b)). Failure to submit a 
complete annual report may be the basis for revocation (Sections 
325.10(a) and 325.14(c) of the Regulations, 15 CFR 325.10(a) (3) and 
325.14(c)).
    On June 7, 1999, the Department of Commerce sent to FEXCORP a 
letter containing annual report questions with a reminder that its 
annual report was due on July 27, 1999. Additional reminders were sent 
on September 9, 1999 and on November 8, 1999. The Department has 
received no written response to any of these letters.
    On January 11, 2000,and in accordance with Section 325.10(c)(1) of 
the Regulations, (15 CFR 325.10(c)(1)), the Department of Commerce sent 
a letter by certified mail to notify FEXCORP that the Department was

[[Page 21398]]

formally initiating the process to revoke its certificate for failure 
to file an annual report. In addition, a summary of this letter 
allowing FEXCORP thirty days to respond was published in the Federal 
Register on January 19, 2000 at 63 FR 42614. Pursuant to 325.10(c) (2) 
of the Regulations (15 CFR 325.10(c) (2)), the Department considers the 
failure of FEXCORP to respond to be an admission of the statements 
contained in the notification letter.
    The Department has determined to revoke the certificate issued to 
FEXCORP for its failure to file an annual report. The Department has 
sent a letter, dated April 13, 2000, to notify FEXCORP International 
Inc. of its determination. The revocation is effective thirty (30) days 
from the date of publication of this notice. Any person aggrieved by 
this decision may appeal to an appropriate U.S. district court within 
30 days from the date on which this notice is published in the Federal 
Register (325.10(c) (4) and 325.11 of the Regulations, 15 CFR 324.10(c) 
(4) and 325.11 of the Regulations, 15 CFR 325.10(c) (4) and 325.11).

    Dated: April 18, 2000.
Morton Schnabel,
Director, Office of Export Trading Company Affairs.
[FR Doc. 00-9993 Filed 4-20-00; 8:45 am]
BILLING CODE 3510-DR-P