Federal Register / Vol. 66, No. 89 / Tuesday, May 8, 2001 / Rules and Regulations 23153

1 12 U.S.C. 1815(d).

2 12 CFR 543.14 (2000).

3See 12 CFR 552.13(l) (2000).

consider a reasonable number of

regulatory alternatives before

promulgating a rule. The OCC has

determined that the final rule will not

result in expenditures by State, local,

and tribal governments, or by the

private sector, of $100 million or more

in any one year. Accordingly, this

rulemaking is not subject to section 202

of the Unfunded Mandates Act.

List of Subjects in 12 CFR Part 8

National banks.

Authority and Issuance

For reasons set forth in the preamble,

the OCC amends part 8 of Chapter I of

title 12 of the Code of Federal

Regulations as follows:

PART 8—ASSESSMENT OF FEES

1. The authority citation for part 8 is

revised to read as follows:

Authority: 12 U.S.C. 93a, 481, 482, 1867,

3102, and 3108; 15 U.S.C. 78c and 78l; and

26 D.C. Code 102.

2. The heading of part 8 is revised to

read as set forth above.

3. Section 8.6 is amended by revising

the section heading and paragraph (a) to

read as follows:

§ 8.6 Fees for special examinations and

investigations.

(a) Fees. Pursuant to the authority

contained in 12 U.S.C. 481 and 482, the

Office of the Comptroller of the

Currency assesses a fee for:

(1) Examining the fiduciary activities

of national and District of Columbia

banks and related entities;

(2) Conducting special examinations

and investigations of national banks,

District of Columbia banks, and Federal

branches or Federal agencies of foreign

banks;

(3) Conducting special examinations

and investigations of an entity with

respect to its performance of activities

described in section 7(c) of the Bank

Service Company Act (12 U.S.C.

1867(c)), if the OCC determines that

assessment of the fee is warranted with

regard to a particular bank because of

the high risk or unusual nature of the

activities performed; the significance to

the bank’s operations and income of the

activities performed; or the extent to

which the bank has sufficient systems,

controls, and personnel to adequately

monitor, measure, and control risks

arising from such activities;

(4) Conducting special examinations

and investigations of affiliates of

national banks, District of Columbia

banks, and Federal branches or Federal

agencies of foreign banks; and

(5) Conducting examinations and

investigations made pursuant to 12 CFR

part 5, Rules, Policies, and Procedures

for Corporate Activities.

* * * * *

Dated: April 26, 2001.

John D. Hawke, Jr.,

Comptroller of the Currency.

[FR Doc. 01–11572 Filed 5–7–01; 8:45 am]

BILLING CODE 4810–33–P

DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

12 CFR Part 552

[No. 2001–34]

RIN 1550–AB46

Conversion From Stock Form

Depository Institution to Federal Stock

Association

AGENCY: Office of Thrift Supervision,

Treasury.

ACTION: Direct final rule.

SUMMARY: The Office of Thrift

Supervision (OTS) is amending its

regulation on conversions from stock

from depository institutions to federal

stock savings associations. This direct

final rule clarifies that the resulting

federal stock savings association in such

transactions succeeds to all the rights,

property, and obligations of the

converting institution. This amendment

merely codifies OTS’s interpretation of

its existing regulation.

DATES: The direct final rule is effective

July 9, 2001, without further notice,

unless OTS receives significant adverse

comments by June 7, 2001. If OTS

receives such comments, it will publish

a timely withdrawal informing the

public that this rule will not take effect.

ADDRESSES: Mail: Send comments to

Regulation Comments, Chief Counsel’s

Office, Office of Thrift Supervision,

1700 G Street, NW., Washington, DC

20552, Attention Docket No. 2001–34.

Delivery: Hand deliver comments to

the Guard’s Desk, East Lobby Entrance,

1700 G Street, NW., from 9:00 a.m. to

4:00 p.m. on business days, Attention

Regulation Comments, Chief Counsel’s

Office, Docket No. 2001–34.

Facsimiles: Send facsimile

transmissions to FAX Number (202)

906–6518, Attention Docket No. 2001–

34.

E-Mail: Send e-mails to

regs.comments@ots.treas.gov, Attention

Docket No. 2001–34, and include your

name and telephone number.

Public Inspection: Comments and the

related index will be posted on the OTS

Internet Site at www.ots.treas.gov. In

addition, you may inspect comments at

the Public Reading Room, 1700 G St.

NW., by appointment. To make an

appointment for access, call (202) 906–

5922, send an e-mail to

public.info@ots.treas.gov, or send a

facsimile transmission to (202) 906–

7755. (Prior notice identifying the

materials you will be requesting will

assist us in serving you.) Appointments

will be scheduled on business days

between 10:00 a.m. and 4:00 p.m. In

most cases, appointments will be

available the next business day

following the date a request is received.

FOR FURTHER INFORMATION CONTACT:

Aaron B. Kahn, (202) 906–6263, Special

Counsel, or Kevin A. Corcoran, (202)

906–6962, Assistant Chief Counsel,

Business Transactions Division, Chief

Counsel’s Office, Office of Thrift

Supervision, 1700 G Street, NW.,

Washington DC 20552.

SUPPLEMENTARY INFORMATION:

Background

OTS’s regulations at 12 CFR 552.2–6

provides that, with OTS approval, any

stock depository institution that is, or is

eligible to become, a member of a

Federal Home Loan Bank may convert

to a federal stock savings association if

the converting institution has deposits

insured by the Federal Deposit

Insurance Corporation (FDIC) at the

time of conversion, and complies with

all applicable statutes and regulations,

including section 5(d) of the Federal

Deposit Insurance Act.1 This regulation

does not explicitly address the

succession of the federal association

resulting from such a conversion to the

rights, obligations and property of the

converting institution. However, as a

matter of practice OTS treats federal

stock associations that have resulted

from direct conversions pursuant to 12

CFR 552.2–6 as the corporate successors

of the converting institutions.

OTS regulations addressing similar

transactions explicitly provide that the

resulting federal association succeeds to

the rights, obligations, and property of

a converted or disappearing entity. This

is true, for example, for conversions of

mutual depository institutions to federal

mutual savings associations 2 and the

merger or consolidation of stock

institutions that result in a federal stock

association.3

To clarify the legal consequences of

direct conversions under 12 CFR 552.2–

6, OTS is amending that regulation to

provide explicitly that a converted

23154 Federal Register / Vol. 66, No. 89 / Tuesday, May 8, 2001 / Rules and Regulations

4 60 FR 43108 (Aug. 18, 1995).

5Pub. L. No. 103–325, 12 U.S.C. 4802.

6Pub. L. No. 96–354, 5 U.S.C. 601.

federal stock association succeeds to all

the rights, obligations and property of

its corporate predecessor.

This action will not change the

existing treatment of federal stock

associations that have converted from a

stock depository institution. Rather, the

amendment merely codifies the agency’s

existing interpretation of its regulation.

The text of the amendment has been

derived from a comparable provision

pertaining to the merger and

consolidation of federal stock

associations that appears at 12 CFR

552.13(l).

Rulemaking Procedures

Direct final rulemaking is a technique

for expediting the issuance of noncontroversial rules. Under this

procedure, an agency may publish a rule

in the Federal Register with a statement

that, unless a significant adverse

comment is received within a specified

time period, the rule will become

effective as a final rule on a particular

date. If a significant adverse comment is

filed, however, the agency must

withdraw the direct final rule and

complete standard notice and comment

procedures. This procedure permits an

agency to issue final rules

expeditiously, while at the same time

offering the public the opportunity to

challenge the agency’s view that the rule

is non-controversial.

The Administrative Conference of the

United States adopted Recommendation

95–4 encouraging the use of direct final

rulemaking,4 and recommending that

agencies develop a direct final

rulemaking process for issuing rules that

are unlikely to result in significant

adverse comments. OTS recently used

the direct final rule procedure to remove

a regulation on the transfer and

repurchase of government securities.

See 65 FR 16302 and 16350 (March 28,

2000) and 65 FR 30527 (May 12, 2000).

OTS has concluded that this rule is

non-controversial and should elicit no

significant adverse comment.

Accordingly, the agency has determined

that it is appropriate to apply direct

final rulemaking procedures. Therefore,

consistent with the Administrative

Conference’s recommendations, OTS is

applying the following procedures in

this rulemaking:

OTS is publishing this notice of direct

final rule in the final rule section of the

Federal Register and is including an

opportunity for public comment on the

substance of the change (i.e., a 30-day

public comment period). OTS has also

included a statement of basis and

purpose for the rule and has discussed

relevant substantive issues in the

discussion above.

The direct final rule will

automatically become effective in 60

days, unless OTS receives a significant

adverse comment within the 30-day

comment period. If a timely, significant

adverse comment is received, OTS will

withdraw the direct final rule before the

stated effective date. To be a significant

adverse comment, the comment must

explain why the rule would be

inappropriate, including challenges to

the rule’s underlying premise or

approach, or why the rule would be

ineffective or unacceptable without a

change.

To ensure that the promulgation of a

final rule will not be delayed if

significant adverse comments are

submitted, OTS has published a related

notice of proposed rulemaking (NPRM)

elsewhere in today’s Federal Register.

This related notice cross-references the

direct final rule. The related notice

indicates that if a timely, significant

adverse comment on the matter is

received, OTS will address all public

comments in subsequent final rule

based on the NPRM. If no significant

adverse comments are timely received,

OTS will take no further action on the

NPRM.

Effective Date

This direct final rule imposes no

additional requirements on insured

depository institutions. This rule is

therefore exempt from the requirement

found in section 302 of the Riegle

Community Development and

Regulatory Improvement Act of 1994 5

that regulations must not take effect

before the first day of the quarter

following publication.

Regulatory Flexibility Act

Pursuant to section 605(b) of the

Regulatory Flexibility Act,6 the Director

certifies that this direct final rule will

not have a significant economic impact

on a substantial number of small

entities. The rule merely codifies an

existing OTS interpretation.

Executive Order 12866

OTS has determined that this direct

final rule is not a ‘‘significant regulatory

action’’ for purposes of Executive Order

12866.

Unfunded Mandates Reform Act of

1995

OTS has determined that the

requirements of this direct final rule

will not result in expenditures by State,

local, and tribal governments or by the

private sector of $100 million or more

in any one year. Accordingly, a

budgetary impact statement is not

required under section 202 of the

Unfunded Mandates Reform Act of

1995.

Federalism

Executive Order 13132 imposes

certain requirements on an agency when

formulating and implementing polices

that have federalism implications or

taking actions that preempt state law.

OTS has determined that this direct

final rule will not have substantial

direct effects on the States, on the

relationship between the national

government and the States, or on the

distribution of power and

responsibilities among the various

levels of government, and will not

preempt State law.

List of Subjects in 12 CFR Part 552

Reporting and recordkeeping

requirements, Savings associations,

Securities.

Accordingly, the Office of Thrift

Supervision hereby amends title 12,

chapter V of the Code of Federal

Regulations as set forth below.

PART 552—INCORPORATION,

ORGANIZATION, AND CONVERSION

OF FEDERAL STOCK ASSOCIATIONS

1. The authority citation for Part 552

continues to read as follows:

Authority: 12 U.S.C. 1462, 1462a, 1463,

1464, 1467a.

2. Section 552.2–6 is amended by

designating the existing section as

paragraph (a) and adding paragraph (b)

to read as follows:

§ 552.2–6 Conversion from stock form

depository institution to Federal stock

association.

(a) * * *

(b) Any and all of the assets and other

property (whether real, personal, mixed,

tangible or intangible, including choses

in action, rights, and credits) of the

former stock form depository institution

become assets and property of the

Federal stock association when the

conversion occurs. Similarly, any and

all of the obligations and debts of or

claims against the former stock form

depository institution become

obligations and debts of and claims

against the Federal stock association

when the conversion occurs. In effect,

the Federal stock association is the same

as the former stock form depository

institution with respect to any and all

assets, property, claims and debts of or

Federal Register / Vol. 66, No. 89 / Tuesday, May 8, 2001 / Rules and Regulations 23155

claims against the former stock form

depository institution.

Dated: May 2, 2001.

By the Office of Thrift Supervision.

Ellen Seidman,

Director.

[FR Doc. 01–11573 Filed 5–7–01; 8:45 am]

BILLING CODE 6720–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 2000–NE–12–AD; Amendment

39–12218; AD 2001–08–14]

RIN 2120–AA64

Airworthiness Directives: Turbomeca

S.A. Arrius Models 2B, 2B1, and 2F

Turboshaft Engines; Correction

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Final rule; correction.

SUMMARY: This document makes a

correction to Airworthiness Directive

(AD) 2001–08–14 applicable to

Turbomeca S.A. Arrius models 2B, 2B1,

and 2F turboshaft engines, that was

published in the Federal Register on

April 26, 2001 (66 FR 20910). The

amendment number of 39–12191 used

in this AD is incorrect. This document

corrects that amendment number. In all

other respects, the original document

remains the same.

EFFECTIVE DATE: May 31, 2001.

FOR FURTHER INFORMATION CONTACT:

James Rosa, Aerospace Engineer, Engine

Certification Office, FAA, Engine and

Propeller Directorate, 12 New England

Executive Park, Burlington, MA 01803;

telephone (781) 238–7152, fax (781)

238–7199.

SUPPLEMENTARY INFORMATION: A final

rule airworthiness directive (FR Doc.

01–10021) applicable to Turbomeca S.A.

Arrius models 2B, 2B1, and 2F

turboshaft engines was published in the

Federal Register on April 26, 2001 (66

FR 20912). The following correction is

needed:

1. On page 20910, in the first column,

in the Heading of the document, the

docket line is corrected to read ‘‘[Docket

No. 2000–NE–12–AD; Amendment 39–

12218; AD 2001–08–14]’’.

PART 39—[CORRECTED]

§ 39.13 [Corrected]

2. On page 20911, in the first column,

under amendatory instruction 2, the

heading of AD 2001–08–14 is corrected

to read as follows:

2001–08–14 Turbomeca S.A. Arrius Models

2B, 2B1, and 2F Turboshaft Engines:

Amendment 39–12218. Docket No.

2000–NE–12–AD.

* * * * *

Issued in Burlington, MA, on April 30,

2001.

Francis A. Favara,

Acting Manager, Engine and Propeller

Directorate, Aircraft Certification Service.

[FR Doc. 01–11456 Filed 5–7–01; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Food and Drug Administration

21 CFR Part 803

[Docket No. 98N–0170]

Medical Devices; Medical Device

Reporting Regulations; Technical

Amendment

AGENCY: Food and Drug Administration,

HHS.

ACTION: Final rule; technical

amendment.

SUMMARY: The Food and Drug

Administration (FDA) is amending its

regulations governing Medical Device

Reporting (MDR) requirements. When

the final regulation was last amended,

the regulation published with some

errors and omissions that, if

uncorrected, may prove to be

misleading. This document corrects

those errors.

DATES: This rule is effective May 8,

2001.

FOR FURTHER INFORMATION CONTACT:

Susan E. Bounds, Center for Devices and

Radiological Health (HFZ–500), Food

and Drug Administration, 1350 Piccard

Dr., Rockville, MD 20850, 301–594–

2735.

SUPPLEMENTARY INFORMATION:

I. Background

In the Federal Register of January 26,

2000 (65 FR 4112), FDA published a

final rule (the January 2000 rule) that

amended its MDR regulations governing

reporting by manufacturers, importers,

distributors, and user facilities of

adverse events related to medical

devices. These amendments were made

to implement revisions to the Federal

Food, Drug, and Cosmetic Act (the act)

under the Food and Drug

Administration Modernization Act of

1997 (FDAMA). These regulations

became effective March 27, 2000. Under

certain provisions of FDAMA, reporting

requirements for distributors were

eliminated, but reporting requirements

for importers, and requirements for

distributors to keep records concerning

adverse device events and make them

available to FDA upon request continue

to apply. To accommodate these

changes, part 804 (21 CFR part 804) was

removed and language was integrated

into part 803 (21 CFR part 803) that

reflected the retention of importer

reporting requirements and

recordkeeping requirements for

distributors. Another change made by

the January 2000 rule revised

procedures to require annual, rather

than semiannual, summary reporting by

user facilities, and eliminated reporting

certification requirements. As a result of

these substantive amendments, many

nonsubstantive changes were made to

the organization of provisions in part

803. During preparation of the final rule

for publication, however, a number of

typographical and editorial errors

occurred. In the subsequent months,

FDA discovered other errors. The

purpose of these amendments is to

correct the errors identified in part 803.

This document is published as a final

rule with the effective date shown

above. FDA has determined that this

final rule has no substantive impact on

the public. FDA, therefore, for good

cause, finds under 5 U.S.C.553(b)(3)(B)

and (d)(3) that notice and public

comment are unnecessary and that this

rule may take effect upon publication.

II. Need for Amendments

A. Incorporation of Importer Reporting

Requirements Into Part 803

Section 213 of FDAMA eliminated

reporting requirements for distributors

previously found at part 804. At the

same time, reporting requirements for

importers were retained and those

previously referenced in part 804 were

incorporated in part 803. Accordingly,

the word ‘‘distributor’’ was removed

from applicable paragraphs and the

word ‘‘importer’’ was integrated into the

text. During preparation of the final rule

amending the regulations to incorporate

importer requirements, however, the

word ‘‘importer’’ was not properly

integrated into §§ 803.10, 803.20,

803.50, and 803.52. FDA is amending

the regulations to correct this error.

B. Elimination of Reporting Certification

and Modification of Semi-Annual

Reporting

Section 213(a)(2) of FDAMA revoked

section 519(d) of the act (21 U.S.C.

360i(d)) resulting in the elimination of

certification requirements. Section

213(c)(1)(A) revised section 519(b)(1)(C)

of the act to require annual, rather than