32974 Federal Register / Vol. 66, No. 118 / Tuesday, June 19, 2001 / Notices

11 15 U.S.C. 78o–3(b)(6). 12 17 CFR 200.30–3(a)(12).

completely avoid the obligation of

reporting trades through ACT.

Nasdaq considered and rejected the

possibility of increasing the monthly fee

for the ACT Service Desk to more

accurately reflect the true costs of

providing this service. Nasdaq created

the ACT Service Desk as a low-cost

service and has steadfastly resisted

raising the price of that service since its

inception, in large part due to the

perception that few alternatives for the

service existed. This perception no

longer reflects reality. Moreover, a fee

that accurately reflected the cost of

providing the ACT Service Desk would

not have been significantly lower than

the cost associated with Nasdaq ACT.

ACT Service Desk users, which

typically need only the trade entry and

trade query function (and not risk

management) can purchase that service

for $150 per month, $93.00 more than

they pay for the ACT Service Desk

today. For that additional fee, users can

report up to 20 trades per day (as

opposed five per day on the ACT

Service Desk), and they can do so more

efficiently.

While Nasdaq believes that the

elimination of the ACT Service Desk

will not materially or unduly burden the

current users of that service, it

recognizes the inconvenience to users

that have grown accustomed to this

method of trade reporting. To minimize

the disruption of its members’

operations, Nasdaq will wait 90 days

following Commission approval of this

rule proposal before eliminating the

ACT Service Desk. Nasdaq will also

provide ACT Service Desk users with at

least two forms of notice of its schedule

for eliminating the service, and will

provide accompanying information

about firms’ options for establishing

new trade reporting practices. Finally,

Nasdaq will, during this 90-day post

approval period, offer current ACT

Service Desk users the option of

transitioning to Nasdaq ACT for $57.00

per month to enable them to assess

whether that service meets their needs.

ACT Service Desk users that transition

to Nasdaq ACT after that 90-day period

will be assessed the regular fees for

Nasdaq ACT, as described in NASD

Rule 7010(g).

2. Statutory Basis

Nasdaq believes that the proposed

rule change is consistent with the

provisions of Section 15A(b)(6) of the

Act,11 which requires, among other

things, that the Association’s rules must

be designed to foster cooperation and

coordination with persons engaged in

regulating, clearing, settling, processing

information with respect to, and

facilitating transactions in securities, to

remove impediments to and perfect the

mechanism of a free and open market

and a national market system, and, in

general, to protect investors and the

public interest. Nasdaq believes that the

proposed rule change is wholly

consistent with the purposes of the Act

in that it will not materially reduce the

availability of cost effective and efficient

mechanisms to report trades, and

therefore facilitates clearance and

settlement. Additionally, Nasdaq

believes the proposed rule change will

not materially detract from the process

through which members engage in the

comparison and clearing of securities

transactions.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

Nasdaq does not believe that the

proposed rule change will result in any

burden on competition that is not

necessary or appropriate in furtherance

of the purposes of the Act, as amended.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants or Others

Nasdaq staff has discussed the

substance of this rule filing with what

Nasdaq believes is a representative

sample of current ACT Service Desk

users that have reported an average of

one or more trades per day during the

last three months. Most of the members

that Nasdaq contacted indicated that the

elimination of the ACT Service Desk

would not materially detract from the

operation of their firms. Only one

member firm stated that this proposal

would have a material impact, and

Nasdaq has committed to assisting that

firm, and any others that may

experience difficulty in transitioning

away from the ACT Service Desk.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within 35 days of the date of

publication of this notice in the Federal

Register or within such longer period (i)

as the Commission may designate up to

90 days of such date if it finds such

longer period to be appropriate and

publishes its reasons for so finding or

(ii) as to which the Exchange consents,

the Commission will:

A. By order approve such proposed

rule change, or

B. Institute proceedings to determine

whether the proposed rule change

should be disapproved.

Nasdaq has requested accelerated

approval of the proposed rule change.

While the Commission will not grant

accelerated approval at this time, the

Commission will consider granting

accelerated approval of the proposal at

the close of an abbreviated comment

period of 15 days from the date of

publication of the proposal in the

Federal Register.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views and

arguments concerning the foregoing,

including whether the proposed rule

change is consistent with the Act.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, NW.,

Washington, DC 20549–0609. Copies of

the submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with the

provisions of 5 U.S.C. 552, will be

available for inspection and copying in

the Commission’s Public Reference

Room. Copies of such filing will also be

available for inspection and copying at

the principal office of Nasdaq. All

submissions should refer to file number

SR–NASD–2001–36 and should be

submitted by July 5, 2001.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.12

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–15363 Filed 6–18–01; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Membership of a National

Parks Overflights Advisory Group

AGENCY: National Park Service, Interior,

Federal Aviation Administration, DOT.

ACTION: Notice.

SUMMARY: The National Park Service

(NPS) and Federal Aviation

Administration (FAA) in accordance

with the National Parks Air Tour

Management Act of 2000, announce the

membership of the National Parks

Federal Register / Vol. 66, No. 118 / Tuesday, June 19, 2001 / Notices 32975

Overflights Advisory Group (NPOAG).

The NPOAG is formed to provide

continuing advice and counsel with

respect to commercial air tour

operations over and near national parks.

This notice informs the public of the

members initially selected to serve on

the advisory group and next actions of

the advisory group.

DATES: The National Parks Overflights

Advisory Group was established on

April 5, 2001; this notice announces

those members initially selected to serve

as the Advisory Group.

FOR FURTHER INFORMATION CONTACT:

Howard Nesbitt, Flight Standards

Service, Federal Aviation

Administration, 800 Independence

Ave., SW., Washington, DC 20591,

telephone: (202) 493–4981, or Marvin

Jensen, Soundscapes Office, National

Park Service, 1201 Oak Ridge Drive,

Suite 200, Ft. Collins, Colorado, 80525,

telephone: (970) 225–3563.

SUPPLEMENTARY INFORMATION:

Background

The National Parks Air Tour

Management Act of 2000 (the Act) was

enacted on April 5, 2000, as Public Law

106–181. The Act applies to

‘‘commercial air tour operations’’

occurring over a unit of the national

park system or tribal lands within or

abutting a national park. The Act

defines a commercial air tour operation

and lists the factors that the

Administrator may consider in

determining whether or not an operator

is conducting a commercial air tour

operation. See Section 803 of the Act, to

be codified at 49 U.S.C. section

40128(f)(4)(B). Once defined as a

commercial air tour operation, that

operation would be subject to the air

tour management plan (ATMP) for that

park. The process for the development

of an ATMP will be delineated in future

rulemaking which will codify the Act.

In the meantime, to meet the mandate

of the public law, the FAA and NPS

publish this notice announcing the

initial selections of membership on the

Advisory Group who will serve to

advise and counsel the persons

implementing the regulations when they

are adopted.

Advisory Group Requirements of Pub.

L. 106–181

The Act requires the establishment of

the advisory group within 1 year after

its enactment. The advisory group is to

be comprised of a balanced group of

representatives of general aviation;

commercial air tour operations;

environmental concerns; and Indian

tribes. The Administrator and the

Director (or their designees) are to serve

as ex officio members of the group.

Representatives of the Administrator

and Director will serve alternating 1-

year terms as chairman of the advisory

group. The Administrator’s

representative will serve the first term,

which will terminate at the end of the

calendar year following the year in

which the advisory group is established.

The advisory group will ‘‘provide

advice, information, and

recommendations to the Administrator

and the Director—

(1) on the implementation of this title

[the Act] and the amendments made by

this title;

(2) on commonly accepted quiet

aircraft technology for use in

commercial air tour operations over a

national park or tribal lands, which will

receive preferential treatment in a given

air tour management plan;

(3) on other measures that might be

taken to accommodate the interests of

visitors to national parks; and

(4) at the request of the Administrator

and the Director, safety, environmental,

and other issues related to commercial

air tour operations over a national park

or tribal lands.’’

Members of the advisory group may

be allowed certain travel expenses as

authorized by section 5703 of title 5,

United States Code, for intermittent

Government service.

Request for Public Participation in the

Advisory Group

On March 12, 2001, the FAA and NPS

invited members of the public who are

interested in serving on the advisory

group to contact persons listed under

FOR FURTHER INFORMATION CONTACT.

Eleven requests were received. The FAA

and NPS have selected the following

persons to serve initially on the

Advisory Group: Joseph Corrao,

Helicopter Association International;

Andrew Cebula, Aircraft Owners and

Pilots Association; David Kennedy,

National Air Transportation

Association; Chip Dennerlein, National

Parks Conservation Association; Charles

Maynard, Friends of the Great Smoky

Mountain National Park; and Boyd

Evison, former National Park

Superintendent and Regional Director.

Ms. Germane White will represent the

Confederated Salish and Kootani.

After the issuance of a final regulation

implementing the Act, the agencies will

consider other requests for membership

on the Advisory Group. This may

include persons who may, after the

issuance of final rules implementing the

Act, find that they have an interest to

serve in an advisory role in the

implementation of the regulations. At

this time, however, the agencies find

that the persons selected will serve as a

balanced representation of the various

interests of the national parks.

Next Actions of the Advisory Group

The FAA and NPS anticipate the

Advisory Group may wish to hold at

least one session before the issuance of

final regulations on the legislation to

establish organizational and

administrative rules of conduct. The

public will be informed of any such

meetings by notice in the Federal

Register.

Issued in Washington, DC on June 12,

2001.

Jane F. Garvey,

Administrator.

[FR Doc. 01–15419 Filed 6–18–01; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. PE–2001–45]

Petitions for Exemption; Summary of

Petitions Received

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice of petitions for

exemption received.

SUMMARY: Pursuant to FAA’s rulemaking

provisions governing the application,

processing, and disposition of petitions

for exemption part 11 of Title 14, Code

of Federal Regulations (14 CFR), this

notice contains a summary of certain

petitions seeking relief from specified

requirements of 14 CFR. The purpose of

this notice is to improve the public’s

awareness of, and participation in, this

aspect of FAA’s regulatory activities.

Neither publication of this notice nor

the inclusion or omission of information

in the summary is intended to affect the

legal status of any petition or its final

disposition.

DATES: Comments on petitions received

must identify the petition docket

number involved and must be received

on or before July 10, 2001.

ADDRESSES: Send comments on any

petition to the Docket Management

System, U.S. Department of

Transportation, Room Plaza 401, 400

Seventh Street, SW., Washington, DC

20590–0001. You must identify the

docket number FAA–2000–XXXX at the

beginning of your comments. If you

wish to receive confirmation that FAA

received your comments, include a selfaddressed, stamped postcard.