Federal Register / Vol. 66, No. 101 / Thursday, May 24, 2001 / Notices 28765

1 15 U.S.C. 78l(d).

2 17 CFR 240.12d2–2(d).

3 15 U.S.C. 78l(b).

4 15 U.S.C. 78l(g). 5 17 CFR 200.30–3(a)(1).

effective amendment filings to the form.

The Commission estimates that each

registrant filing an initial Form N–8B–

2 would spend 44 hours in preparing

and filing the form and that the total

hour burden for all initial Form N–8B–

2 filings would be 1,056 hours. Also, the

Commission estimates that each UIT

filing a post-effective amendment to

Form N–8B–2 would spend 16 hours in

preparing and filing the amendment and

that the total hour burden for all posteffective amendments to the form would

be 176 hours. By combining the total

hour burdens estimated for initial Form

N–8B–2 filings and post-effective

amendments filings to the form, the

Commission estimates that the total

annual burden hours for all registrants

on Form N–8B–2 would be 1,232.

Estimates of average burden hours are

made solely for the purposes of the

Paperwork Reduction Act, and are not

derived from a comprehensive or even

a representative survey or study of the

costs of Commission rules and forms.

Written comments are invited on: (a)

Whether the proposed collection of

information is necessary for the proper

performance of the functions of the

agency, including whether the

information will have practical utility;

(b) the accuracy of the agency’s estimate

of the burden of the collection of

information; (c) ways to enhance the

quality, utility, and clarity of the

information collected; and (d) ways to

minimize the burden of the collection of

information on respondents, including

through use of automated collection

techniques or other forms of information

technology. Consideration will be given

to comments and suggestions submitted

in writing within 60 days of this

publication.

Please direct your written comments

to Michael E. Bartell, Associate

Executive Director, Office of

Information Technology, Securities and

Exchange Commission, 450 Fifth Street,

NW., Washington, D.C. 20549.

Dated: May 17, 2001.

Jonathan G. Katz,

Secretary.

[FR Doc. 01–13159 Filed 5–23–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[File No. 1–14800]

Issuer Delisting; Notice of Application

To Withdraw From Listing and

Registration; (CollegeLink.com,

Common Stock, $.001 Par Value)

May 18, 2001.

CollegeLink.com, a Delaware

corporation (‘‘Issuer’’), has filed an

application with the Securities and

Exchange Commission (‘‘Commission’’),

pursuant to section 12(d) of the

Securities Exchange Act of 1934

(‘‘Act’’) 1 and Rule 12d2–2(d)

thereunder,2 to withdraw its Common

Stock, $.001 par value (‘‘Security’’),

from listing and registration on the

American Stock Exchange LLC

(‘‘Amex’’).

The Issuer stated in its application

that it has met the requirements of

Amex Rule 18 by complying with all

applicable laws in effect in the State of

Delaware, in which it is incorporated,

and with the Amex’s rules governing an

issuer’s voluntary withdrawal of a

security from listing and registration.

In making the decision to withdraw

the Security from listing on the

Exchange, the Issuer considered:

(1) Its non-compliance with the Amex

maintenance standards concerning the

price per share of an issuer’s security,

and

(2) Its non-compliance with the Amex

maintenance standards concerning the

net tangible assets of an issuer.

The Issuer represents that it will seek

to facilitate the Security being quoted on

the OTC Bulletin Board effective May

22, 2001. The Issuer’s application

relates solely to the Security’s

withdrawal from listing on the Amex

and from registration under section

12(b) of the Act 3 and shall not affect its

obligation to be registered under section

12(g) of the Act.4

Any interested person may, on or

before June 8, 2001, submit by letter to

the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

NW., Washington, DC 20549–0609, facts

bearing upon whether the application

has been made in accordance with the

rules of the Amex and what terms, if

any, should be imposed by the

Commission for the protection of

investors. The Commission, based on

the information submitted to it, will

issue an order granting the application

after the date mentioned above, unless

the Commission determines to order a

hearing on the matter.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.5

Jonathan G. Katz,

Secretary.

[FR Doc. 01–13160 Filed 5–23–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–24979; 812–10320]

Tremont Corporation; Notice of

Application

May 17, 2001.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’).

ACTION: Notice of application for an

order under sections 2(a)(9) and 3(b)(2)

of the Investment Company Act of 1940

(the ‘‘Act’’).

Summary of Application: Tremont

Corporation (‘‘Applicant’’ or

‘‘Tremont’’) requests an order declaring

that it controls NL Industries, Inc.

(‘‘NL’’) and that applicant is primarily

engaged in a business other than that of

investing, reinvesting, owning, holding

or trading in securities.

Filing Dates: The application was

filed on August 30, 1996, and amended

on May 14, 1997, and April 27, 2001.

Hearing or Notification of Hearing: An

order granting the application will be

issued unless the SEC orders a hearing.

Interested persons may request a

hearing by writing to the SEC’s

Secretary and serving applicant with a

copy of the request, personally or by

mail. Hearing requests should be

received by the SEC by 5:30 p.m. on

June 11, 2001, and should be

accompanied by proof of service on

applicant, in the form of an affidavit or,

for lawyers, a certificate of service.

Hearing requests should state the nature

of the writer’s interest, the reason for the

request, and the issues contested.

Persons may request notification of a

hearing by writing to the SEC’s

Secretary.

ADDRESSES: Secretary, SEC, 450 5th

Street, NW., Washington, DC 20549–

0609. Applicant, 1999 Broadway, Suite

4300, Denver, CO 80202.

FOR FURTHER INFORMATION CONTACT:

Christine Y. Greenless, Branch Chief, or

Nadya B. Roytblat, Assistant Director, at

(202) 942–0564 (Division of Investment

Management, Office of Investment

Company Regulation).

28766 Federal Register / Vol. 66, No. 101 / Thursday, May 24, 2001 / Notices

1Applicant states that approximately 60.2% of

NL’s outstanding voting securities is held by Valhi,

Inc. (‘‘Valhi’’). Applicant also states that 80.02% of

its outstanding voting securities is held by Tremont

Group, Inc. (‘‘TGI’’), a company that is 80.01% held

by Valhi and 19.99% held by Tremont Holdings

LLC (‘‘Tremont Holdings’’), a single member limited

liability company owned by NL. Tremont Holdings

holds directly an additional 0.13% of applicant’s

outstanding voting securities. Applicant further

states that TGI may be deemed to control applicant

and Mr. Harold C. Simmons may be deemed to

control Valhi.

2See Tonopah Mining Company of Nevada, 26

S.E.C. 426 (1946).

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application. The complete application

may be obtained for a fee at the SEC’s

Public Reference Branch, 450 5th Street,

N.W., Washington, D.C. 20549–0102

(tel. (202) 942–8090).

Applicant’s Representations

1. Applicant, a Delaware corporation

formed in 1987 as a wholly-owned

subsidiary of NL, is primarily engaged

in the business of producing and selling

titanium metals and titanium dioxide.

Applicant’s shares are listed and traded

on the New York and Pacific Stock

Exchanges. Applicant conducts its

operations through Titanium Metals

Corporation (‘‘TIMET’’) and NL.

Applicant states that TIMET is one of

the world’s leading integrated producers

of titanium metal products. Applicant

further states that it owns approximately

39% of TIMET’s outstanding voting

securities and primarily controls

TIMET. Applicant also states that NL is

an international producer and marketer

of titanium dioxide pigments to

customers worldwide. Applicant owns

approximately 20.4% of NL’s

outstanding voting securities.1

Applicant states that, as of December 31,

2000, its interests in TIMET and NL

represented approximately 23% and

68%, respectively, of applicant’s total

assests (exclusive of Government

securities and cash items) on an

unconsolidated basis. Applicant also

has wholly-owned subsidiaries TRECO

L.L.C. that is engaged in the real estate

business and relies on section 3(c)(1) of

the Act, and NL Insurance Limited of

Vermont (‘‘NLIV’’), an insurance

company that is exempt pursuant to

section 3(c)(3) of the Act.

Applicant’s Legal Analysis

1. Under section 3(a)(1)(C) of the Act,

an issuer is an investment company if

it is engaged or proposes to engage in

the business of investing, owning,

holding, or trading in securities, and

owns or proposes to acquire investment

securities having a value in excess of 40

percent of the value of the issuer’s total

assets (exclusive of Government

securities and cash items) on an

unconsolidated basis. Under section

3(a)(2) of the Act, investment securities

iclude all securities except Government

securities, securities issued by employee

securities companies, and securities

issued by majority-owned subsidiaries

of the owner which (i) are not

investment companies, and (ii) are not

relying on the exclusions from the

definition of investment company in

section #3(c)(1) or 3(c)(7) of the Act.

2. Section 3(b)(2) of the Act provides

that, notwithstanding section 3(a)(1)(C)

of the Act, the SEC may issue an order

declaring an issuer to be primarily

engaged in a business other than that of

investing, reinvesting, owning, holding,

or trading in securities either directly,

through majority-owned subsidiaries, or

through controlled companies

conducting similar types of businesses.

Section 2(a)(9) of the Act defines

‘‘control’’ as the power to exercise a

controlling influence over the

management or policies of a company.

That section creates a presumption that

an owner of more than 25% of a

company’s outstanding voting securities

controls the company, and that an

owner of 25% or less of a company’s

outstanding voting securities does not

control the company. Section 2(a)(9)

further provides that any such

presumption may be rebutted by

evidence.

3. Applicant requests an order under

section 2(a)(9) of the Act declaring that

it controls NL and under section 3(b)(2)

declaring that applicant is primarily

engaged, through TIMET and NL as

controlled companies, in a business

other than that of investing, reinvesting,

owning, holding or trading in securities.

4. Applicants states that it controls NL

within the meaning of section 2(a)(9) of

the Act, notwithstanding that it owns

less than 25% of NL’s outstanding

voting securities, through significant

and active participation in the

management of NL. Five of the members

of the board of directors of Tremont

(‘‘Tremont board’’) are also members of

NL’s seven member board of directors.

Mr. J. Landis Martin, Chairman of the

Board, Chief Executive Officer and

President of Tremont also serves as the

Chief Executive Officer and President of

NL. Ms. Susan E. Alderton, a member of

the Tremont board, also serves as Chief

Financial Officer, Vice President and

Treasurer of NL. Mr. Harold C.

Simmons, a member of the Tremont

board, also serves as Chairman of the

Board of NL. Applicant states that the

directors and officers of Tremont play

an active role in setting NL’s general

policies and provide support to NL’s

management, and that a finding of

control under section 2(a)(9) therefore is

appropriate.

5. Under section 3(b)(2) of the Act, in

determining whether an applicant is

primarily engaged in a non-investment

company business, the SEC considers

the following factors: (a) Applicant’s

historical development; (b) applicant’s

public representations of policy; (c) the

activities of applicant’s officers and

directors; (d) the nature of applicant’s

present assets; and (e) the sources of

applicant’s present income.2

a. Historical Development: Applicant

states that since its formation in 1987,

it has been engaged primarily in the

businesses of petroleum services and

bentonite mining, as well as the

production and sale of titanium metals

and titanium dioxide.

b. Public Representations of Policy:

Applicant states that it has consistently

held itself out as a holding company

conducting its business operations

through TIMET, NL, and TRECO.

Applicant states that it does not hold

and has never held itself out as an

investment company within the

meaning of the Act.

c. Activities of Officers and Directors:

Applicant states that the primary

activities of its officers and directors are

participating in the governing and

operational activities of TIMET and NL.

d. Nature of Assets: Applicant states

that, as of December 31, 2000, its

interest in TIMET represented 23%, and

its interest in NL represented 68%, of

applicant’s total assets on an

unconsolidated basis (exclusive of

Government securities and cash items).

e. Sources of Income: Applicant states

that, for the four quarters ended

December 31, 2000, it had net income

after taxes of $9.2 million, of which

91.5% was attributable to TIMET, NL

and NLIV.

6. Applicant thus asserts that it meets

the requirements for an order under

section 3(b)(2) of the Act.

For the Commission, by the Division of

Investment Management, under delegated

authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 01–13080 Filed 5–23–01; 8:45 am]

BILLING CODE 8010–01–M