32538 Federal Register / Vol. 66, No. 116 / Friday, June 15, 2001 / Rules and Regulations

1Release No. 33–7035 part III. B. note 37 (59 FR

21644).

Regulatory Policies and Procedures (44

FR 11034; February 26, 1979); and (3)

does not warrant preparation of a

Regulatory Evaluation as the anticipated

impact is so minimal. Since this is a

routine matter that will only affect air

traffic procedures and air navigation, it

is certified that this rule, will not have

a significant economic impact on a

substantial number of small entities

under the criteria of the Regulatory

Flexibility Act.

List of Subjects in 14 CFR Part 71

Airspace, Incorporation by reference,

Navigation (air).

Adoption of the Amendment

In consideration of the foregoing, the

Federal Aviation Administration

amends 14 CFR part 71 as follows:

PART 71—DESIGNATION OF CLASS A,

CLASS B, CLASS C, CLASS D, AND

CLASS E AIRSPACE AREAS;

AIRWAYS; ROUTES; AND REPORTING

POINTS

1. The authority citation for 14 CFR

part 71 continues to read as follows:

Authority: 49 U.S.C. 106(g), 40103, 40113,

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–

1963, Comp., p. 389.

§ 71.1 [Amended]

2. The incorporation by reference in

14 CFR 71.1 of the Federal Aviation

Administration Order 7400.9H,

Airspace Designations and Reporting

Points, dated September 1, 2000, and

effective September 16, 2000, is

amended as follows:

Paragraph 6005 Class E airspace areas

extending upward from 700 feet or more

above the surface of the earth.

* * * * *

ANM WY E5 Cody, WY [Revised]

Cody, Yellowstone Regional Airport,

WY

(Lat. 44°31′12′′N., long. 109°01′27′′W.)

That airspace extending upward from

700 feet above the surface within the 7-

mile radius of the Yellowstone Regional

Airport, and from the 020° bearing from

the airport clockwise to the 120° bearing

from the airport extending to 13.4-miles.

* * * * *

Issued in Seattle, Washington, on May 22,

2001.

Dan A. Boyle,

Assistant Manager, Air Traffic Division,

Northwest Mountain Region.

[FR Doc. 01–15170 Filed 6–14–01; 8:45 am]

BILLING CODE 4910–13–M

SECURITIES AND EXCHANGE

COMMISSION

17 CFR Parts 239 and 249

[Release Nos. 33–7983; 34–44406

International Series Release No. 1249];File

No. S7–3–99

RIN 3235–AH62

International Disclosure Standards;

Correction

AGENCY: Securities and Exchange

Commission.

ACTION: Final rule; technical

amendments.

SUMMARY: The Securities and Exchange

Commission (‘‘Commission’’) is

adopting technical amendments to final

rules adopted in Release No. 33–7745

(September 28, 1999), which were

published in the Federal Register on

October 5, 1999 (64 FR 53900). The

rules relate to the international

disclosure standards of Form 20–F

under the Securities Exchange Act of

1934 and registration statements on

Form F–2 and F–3 under the Securities

Act of 1933.

EFFECTIVE DATE: June 15, 2001.

FOR FURTHER INFORMATION CONTACT:

Amy Kate O’Brien, Office of

International Corporate Finance,

Division of Corporation Finance at (202)

942–2990, or at 450 Fifth Street, NW.,

Washington, DC 20549–0302.

SUPPLEMENTARY INFORMATION: On

September 28, 1999, the Commission

adopted changes to Form 20–F under

the Securities Exchange Act of 1934 and

to Forms F–2 and F–3 under the

Securities Act of 1933. Form 20–F is

used by foreign private issuers to file

registration statements and annual

reports under the Securities Exchange

Act of 1934, and Forms F–2 and F–3 are

the short form registration statements

used by foreign private issuers under

the Securities Act of 1933. Subsequent

to the adoption of the revised forms,

questions arose regarding the

requirements of the forms. Accordingly,

the amendments to the forms set forth

in this Release clarify the requirements

regarding the age of financial

statements, codify the long-standing

practice of accepting two years audited

income statement and statement of cash

flows information if the financial

statements are presented in accordance

with United States Generally Accepted

Accounting Principles (‘‘U.S. GAAP’’),

and correct cross-references in Form 20–

F and Forms F–2 and F–3. These

changes will clarify language that could

create confusion regarding the

requirements of the forms. The changes

are technical corrections that reflect

long-standing practice, and do not alter

the current requirements for companies

filing on the forms.

In connection with the adoption of

revisions to Form 20–F under the

Securities Exchange Act of 1934, we

adopted Item 8.A.4 and Instruction 1 to

Item 8.A.4 regarding the age of financial

statements in a registration statement.

As revised, Instruction 1 to Item 8.A.4

incorrectly implies that audited

financial information for a period of less

than a full year satisfies the requirement

that audited annual financial statements

are no more than 15 months old at the

time of the offering or listing. The

correction deletes the last sentence in

the first paragraph of Instruction 1 to

Item 8.A.4 in order to remedy any

potential confusion. This correction will

clarify that a foreign private issuer

cannot satisfy the 15-month audited

annual financial statement requirement

by filing financial statements that cover

less than a full fiscal year, even if those

statements are audited. Audited

financial statements for a period of less

than a full year, however, will continue

to satisfy the requirement that the

audited financial statements in an initial

public offering are no more than 12

months old at the time of the filing, as

stated in the last sentence of Item 8.A.4

of Form 20–F.

The technical amendments also add

new Instruction 1 to Item 8.A.2 to

expressly incorporate the reporting

requirements for filers preparing

financial statements in accordance with

U.S. GAAP as previously set forth in

Release No. 33–7053 (April 19, 1994),

which was published in the Federal

Register on April 26, 1994 (59 FR

21644). This practice has eased the

reporting burden on qualifying filers,

and the Commission did not intend to

alter it by amending Form 20–F. As

stated in the Release,

If the financial statements are prepared in

accordance with U.S. GAAP, the audited

income statement and statement of cash

flows would only be required for two years.

Selected financial data for the full five fiscal

years would still be required, using the

accounting principles used for reporting to

its shareholders.1

Additionally, the amendment

conforms Item 3.A (Selected Financial

Data) of Form 20–F by adding an

instruction to include predecessor

information as already required in

Instruction 1 to Item 8 (Financial

Information). Predecessor information

has always been required for Selected

Financial Data. Our omission of an

Federal Register / Vol. 66, No. 116 / Friday, June 15, 2001 / Rules and Regulations 32539

2 5 U.S.C. 553(b)(3)(B).

3For similar reasons, the amendments do not

require analysis under the Regulatory Flexibility

Act or analysis of major rule status under the Small

Business Regulatory Enforcement Fairness Act. See

5 U.S.C. 601(2) (for purposes of Regulatory

Flexibility Act analyses, the term ‘‘rule’’ means any

rule for which the agency publishes a general notice

of proposed rulemaking); 5 U.S.C. 804(3)(C) (for

purposes of congressional review of agency

rulemaking, the term ‘‘rule’’ does not include any

rule of agency organization, procedure, or practice

that does not substantially affect the rights or

obligations of non-agency parties).

4See U.S.C. 553(d)(3).

express reference to this requirement in

the instruction to Item 3.A was not

intended to signal a change in policy.

Finally, the amendment corrects various

cross-references in Forms F–2 and F–3

under the Securities Act of 1933.

Certain Findings

Under the Administrative Procedure

Act (‘‘APA’’), notice of proposed

rulemaking is not required when an

agency, for good cause, finds ‘‘that

notice and public procedure thereon are

impracticable, unnecessary, or contrary

to the public interest.’’ 2 The correcting

amendments to Form 20–F and Forms

F–2 and F–3 are technical changes that

(1) clarify that there is no change in the

long-standing requirement for full

period, audited financial statements; (2)

incorporate the long-standing practice of

accepting two years income statement

and cash flow information for filers

presenting financial information in

accordance with U.S. GAAP; (3)

reconcile the instructions to Item 3.A

and Item 8 of Form 20–F; and (4) correct

cross-references in the forms. For these

reasons, the Commission finds that

there is no need to publish notice of

these amendments.3

The APA also requires publication of

a rule at least 30 days before its effective

date unless the agency finds otherwise

for good cause.4 For the same reasons

described with respect to opportunity

for notice and comment, the

Commission finds there is good cause

for the amendments to take effect

immediately.

List of Subjects in 17 CFR Parts 239 and

249

Reporting and recordkeeping

requirements, Securities.

Text of the Amendments

In accordance with the foregoing, the

Commission amends Title 17, chapter II

of the Code of Federal Regulations as

follows:

PART 239—FORMS PRESCRIBED

UNDER THE SECURITIES ACT OF 1933

1. The authority citation for part 239

continues to read in part as follows:

Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s,

77z–2, 77sss, 78c, 78l, 78m, 78n, 78o(d),

78u–5, 78w(a), 78ll(d), 79e, 79f, 79g, 79j, 79l,

79m, 79n, 79q, 79t, 80a–8, 80a–24, 80a–29,

80a–30 and 80a–37, unless otherwise noted.

* * * * *

2. Amend Form F–2 (referenced in

§ 239.32) Item 4 by removing the words

‘‘Item 10 (The Offer and Listing)’’ and

adding in their place the words ‘‘Item 9

(Offer and Listing), Item 10 (Additional

Information)’’.

Note: The text of Form F–2 does not and

this amendment will not appear in the Code

of Federal Regulations.

3. Amend Form F–3 (referenced in

§ 239.33) Item 4 by removing the words

‘‘Item 10 (The Offer and Listing)’’ and

adding in their place the words ‘‘Item 9

(Offer and Listing), Item 10 (Additional

Information)’’.

Note: The text of Form F–3 does not and

this amendment will not appear in the Code

of Federal Regulations.

PART 249—FORMS, SECURITIES

EXCHANGE ACT OF 1934

4. The authority citation for part 249

continues to read, in part, as follows:

Authority: 15 U.S.C. 78a, et seq., unless

otherwise noted.

* * * * *

5. Amend Form 20–F (referenced in

§ 249.220f) by:

a. In Item 3, designate the current text

of Instructions to Item 3.A as Instruction

2 and add new Instruction 1;

b. In Item 8, paragraph 1 to

Instructions to Item 8.A.4, remove the

last sentence; and

c. In Item 8, add Instruction 3 to

Instructions to Item 8.A.2 to read as

follows:

Note: The text of Form 20-F does not and

this amendment will not appear in the Code

of Federal Regulations.

Securities and Exchange Commission

OMB Approval

OMB Number: 3235–0288

Expires: June 20, 2002

Estimated average burden hours per

response—1991.00

Form 20–F—Registration Statement

Pursuant to Section 12(b) or (g) of the

Securities Exchange Act of 1934

* * * * *

Instructions to Item 3.A

1. This item refers to the company, but

note that in some cases, you may have to

provide selected financial data for a

predecessor. See the definition of

predecessor in Exchange Act Rule 12b–2 and

Securities Act Rule 405.

2. * * *

* * * * *

Instructions to Item 8.A.2

1. * * *

3. In initial registration statements, if the

financial statements presented pursuant to

Item 8.A.2 are prepared in accordance with

U.S. generally accepted accounting

principles, the earliest of the three years may

be omitted if that information has not

previously been included in a filing made

under the Securities Act of 1933 or the

Securities Exchange Act of 1934. Selected

financial data presented pursuant to Item 3.A

of Form 20–F for the full five fiscal years is

still required.

* * * * *

June 11, 2001.

By the Commission.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–15137 Filed 6–14–01; 8:45 am]

BILLING CODE 8010–01–P

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Food and Drug Administration

21 CFR Part 522

Implantation or Injectable Dosage

Form New Animal Drugs; Ceftiofur

Sterile Powder for Injection

AGENCY: Food and Drug Administration,

HHS.

ACTION: Final rule.

SUMMARY: The Food and Drug

Administration (FDA) is amending the

animal drug regulations to reflect

approval of a supplemental new animal

drug application (NADA) filed by

Pharmacia and Upjohn Co. The

supplemental NADA provides for

subcutaneous injection of a solution of

reconstituted ceftiofur sodium powder

in cattle.

DATES: This rule is effective June 15,

2001.

FOR FURTHER INFORMATION CONTACT:

Naba K. Das, Center for Veterinary

Medicine (HFV–130), Food and Drug

Administration, 7500 Standish Pl.,

Rockville, MD 20855, 301–827–7569.

SUPPLEMENTARY INFORMATION: Pharmacia

and Upjohn Co., 7000 Portage Rd.,

Kalamazoo, MI 49001–0199, filed

supplemental NADA 140–338 that

provides for use of Naxcel (ceftiofur

sodium) sterile powder for injection by

subcutaneous injection of a solution of

reconstituted ceftiofur sodium powder

in cattle for the treatment of several

bacterial diseases.