Federal Register / Vol. 66, No. 104 / Wednesday, May 30, 2001 / Notices 29379

Executive Office Building, Washington,

DC 20503.

Lois K. Holland,

Departmental Reports, Management Officer.

[FR Doc. 01–13471 Filed 5–29–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

Proposed Collection; Comment

Request for Reporting and Procedures

Regulations

AGENCY: Office of Foreign Assets

Control, Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, as part of its continuing effort

to reduce paperwork and respondent

burden, invites the general public and

other Federal agencies to take this

opportunity to comment on proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Currently, the Office of

Foreign Assets Control (‘‘OFAC’’) within

the Department of the Treasury is

soliciting comments concerning OFAC’s

information collection requirements

contained within OFAC’s Reporting and

Procedures Regulations set forth at 31

CFR Part 501.

DATES: Written comments should be

received on or before July 30, 2001 to be

assured of consideration.

ADDRESSES: Direct all written comments

to Dennis P. Wood, Chief, Compliance

Programs Division, or Barbara C.

Hammerle, Acting Chief Counsel, Office

of Foreign Assets Control, Department

of the Treasury, 1500 Pennsylvania

Avenue, NW., Annex—2d Floor,

Washington, DC 20220.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information

about the filings or procedures should

be directed to Dennis P. Wood, Chief,

Compliance Programs Division, Office

of Foreign Assets Control, Department

of the Treasury, 1500 Pennsylvania

Avenue, N.W., 1500 Pennsylvania

Avenue, Annex — 2d Floor,

Washington, D.C. 20220.

SUPPLEMENTARY INFORMATION:

Title: Reporting and Procedures

Regulations.

OMB Number: 1505–0164.

Agency Form Number: TD–F–90–

22.50.

Abstract: The collections of

information are contained in §§ 501.601

through 501.605, 501.801 and 501.803

through 501.807 and pertain to the

operation of various economic sanctions

programs administered by OFAC under

31 CFR Chapter V. Section 501.601

relates to the maintenance of records

and § 501.602 relates to OFAC demands

for information relative to any

transaction or property subject to the

provisions of 31 CFR Chapter V. Section

501.603 imposes reporting requirements

pertaining to blocked assets and

retained funds transfers. This

information is required by OFAC to

monitor compliance with regulatory

requirements, to support diplomatic

negotiations concerning the targets of

sanctions, and to support settlement

negotiations addressing U.S. claims.

Section 501.604 requires the filing of

reports for compliance purposes by U.S.

financial institutions where a funds

transfer is not required to be blocked but

is rejected because the underlying

transaction is otherwise prohibited.

Section 501.605 requires reporting of

information pertaining to litigation,

arbitration, and other binding

alternative dispute resolution

proceedings in the United States to

prevent the intentional or inadvertent

transfer through such proceedings of

blocked property or retained funds.

Sections 501.801 and 501.803 through

501.805 relate to license requests; the

amendment, modification or revocation

of licenses; rulemaking; and document

requests. Section 501.806 sets forth the

procedures to be followed by a person

seeking to have funds released at a

financial institution if the person

believes that the funds were blocked

due to mistaken identity. Section

501.807 sets forth the procedures to be

followed by persons seeking

administrative reconsideration of their

designation or that of a vessel as

blocked, or who wish to assert that the

circumstances resulting in the

designation are no longer applicable.

The likely respondents and

recordkeepers affected by the

information collections contained in

part 501 are financial institutions,

business organizations, and legal

representatives. The estimated total

annual reporting and/or recordkeeping

burden is approximately 26,250 hours.

The estimated annual burden per

respondent/record keeper varies from

thirty minutes to 10 hours, depending

on individual circumstances, with an

estimated average of 1.25 hours. The

estimated number of respondents and/or

record keepers is 21,000. The estimated

annual frequency of responses: 1–12.

Current Actions: There are no changes

being made to the notice at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Financial

institutions, business organizations, and

legal representatives.

Estimated Number of Respondents:

21,000.

Estimated Time Per Respondent: 1.25

hours.

Estimated Total Annual Burden

Hours: 26,250.

The following paragraph applies to all

of the collections of information covered

by this notice:

An agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless the collection of information

displays a valid OMB control number.

Books or records relating to a collection

of information must be retained for five

years.

Request for Comments

Comments submitted in response to

this notice will be summarized and/or

included in the request for OMB

approval. All comments will become a

matter of public record. Comments are

invited on: (a) Whether the collection of

information is necessary for the proper

performance of the functions of the

agency, including whether the

information has 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 to be

collected;

(d) ways to minimize the burden of

the collection of information on

respondents, including through the use

of automated collection techniques or

other forms of information technology;

and (e) estimates of capital or start-up

costs and costs of operation,

maintenance, and purchase of services

to provide information.

Approved: May 23, 2001.

Barbara C. Hammerle,

Acting Chief Counsel, Office of Foreign Assets

Control.

[FR Doc. 01–13518 Filed 5–29–01; 8:45 am]

BILLING CODE 4810–25–P

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

Proposed Collection; Comment

Request for Payments to Persons Who

Hold Certain Categories of Judgments

Against Cuba or Iran

AGENCY: Office of Foreign Assets

Control, Treasury.

ACTION: Notice and request for

comments.