34270 Federal Register / Vol. 66, No. 124 / Wednesday, June 27, 2001 / Notices

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Extension of Information

Collection Request Submitted for

Public Comment and

Recommendations: Prohibited

Transaction Class Exemption 96–62

ACTION: Notice.

SUMMARY: The Department of Labor, as

part of its continuing effort to reduce

paperwork and respondent burden,

conducts a preclearance consultation

program to provide the general public

and Federal agencies with an

opportunity to comment on proposed

and continuing collections of

information in accordance with the

Paperwork Reduction Act of 1995 (PRA

95)(44 U.S.C. 3506(c)(2)(A)). This helps

to ensure that requested data can be

provided in the desired format,

reporting burden (time and financial

resources) is minimized, collection

instruments are clearly understood, and

the impact of collection requirements on

respondents can be properly assessed.

Currently, the Pension and Welfare

Benefits Administration is soliciting

comments concerning the extension of a

currently approved collection of

information, Prohibited Transaction

Class Exemption 96–62, the expedited

process for approval of exemptions. A

copy of the proposed information

collection request (ICR) can be obtained

by contacting the office listed below in

the addresses section of this notice.

DATES: Written comments must be

submitted on or before August 27, 2001.

ADDRESSES: Gerald B. Lindrew, Office of

Policy and Research, U.S. Department of

Labor, Pension and Welfare Benefits

Administration, 200 Constitution

Avenue, NW, Room N–5647,

Washington, D.C. 20210, (202) 219–

4782, FAX (202) 219–4745. These are

not toll-free numbers.

SUPPLEMENTARY INFORMATION:

I. Background

Section 408(a) of the Employee

Retirement Income Security Act of 1974

(ERISA) provides that the Secretary of

Labor may grant exemptions from the

prohibited transaction provisions of

section 406 and 407(a) of ERISA, and

directs the Secretary to establish an

exemption procedure with respect to

such provisions. On July 31, 1996, the

Department published Prohibited

Transaction Exemption 96–62, which,

pursuant to the exemption procedure set

forth in 29 CFR 2570, subpart B, permits

a plan to seek approval on an

accelerated basis of otherwise

prohibited transactions. A class

exemption will only be granted on the

conditions that the plan demonstrate to

the Department that the transaction is

substantially similar to those described

in at least two prior individual

exemptions granted by the Depatment

and that it presents little, if any,

opportunity for abuse or risk of loss to

a plan’s participants and beneficiaries.

This ICR is intended to provide the

Department with sufficient information

to support a finding that the exemption

meets the statutory standards of section

408(a) of ERISA, and to provide affected

parties with the opportunity to

comment on the proposed transaction,

while at the same time reducing the

regulatory burden associated with

processing individual exemptions for

transactions prohibited under ERISA.

II. Desired Focus of Comments

The Department is particularly

interested in comments that:

• Evaluate 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;

• Evaluate the accuracy of the

agency’s estimate of the burden of the

proposed collection of information,

including the validity of the

methodology and assumptions used;

• Enhance the quality, utility, and

clarity of the information to be

collected; and

• Minimize the burden of the

collection of information on those who

are to respond, including through the

use of appropriate automated,

electronic, mechanical, or other

technological collection techniques or

other forms of information technology,

e.g., permitting electronic submissions

of responses.

III. Current Actions

This notice requests comments on the

extension of the ICR included in the

regulation governing accelerating

approval of a prohibited transaction

class exemption. The Department is not

proposing or implementing changes to

the existing ICR at this time.

Type of Review; Extension of a

currently approved colleciton of

information.

Agency: Pension and Welfare Benefits

Administration.

Title: Prohibited Transaction

Exemption 96–62; Accelerated Approval

of an Otherwise Prohibited Transaction.

OMB Number: 1210–0098.

Affected Public: Business or other forprofit, Not-for-profit institutions,

Individuals.

Total Respondents: 42.

Total Responses: 42.

Frequency: On occasion.

Estimated Total Burden Hours: 53.

Total Annual Costs (Operating and

Maintenance): $37,884.

Comments submitted in response to

this notice will be summarized and/or

included in the request for Office of

Management and Budget approval of the

information collection request; they will

also become a matter of public record.

Dated: June 21, 2001.

Gerald B. Lindrew,

Deputy Director, Pension and Welfare

Benefits Administration, Office of Policy and

Research.

[FR Doc. 01–16079 Filed 6–26–01; 8:45 am]

BILLING CODE 4510–29–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Proposed Extension of Information

Collection Request Submitted for

Public Comment and

Recommendations; Prohibited

Transaction Exemption 94–71

ACTION: Notice.

SUMMARY: The Department of Labor, as

part of its continuing effort to reduce

paperwork and respondent burden,

conducts a preclearance consultation

program to provide the general public

and other federal agencies with an

opportunity to comment on proposed

and continuing collections of

information in accordance with the

Paperwork Reduction Act of 1995 (PRA

95), 44 U.S.C. 3506(c)(2)(A). This

program helps to ensure that requested

data is provided in the desired format,

reporting burden (time and financial

resources) is minimized, collection

instruments are clearly understood, and

the impact of collection requirements on

respondents can be properly assessed.

Currently, the Pension and Welfare

and Welfare Benefits Administration is

soliciting comments on the extension of

a currently approved information

collection request (ICR) incorporated in

Prohibited Transaction Class Exemption

(PTCE) 94–71. A copy of the ICR may

be obtained by contacting the office

listed in the addresses section of this

notice.

DATES: Written comments must be

submitted on or before August 27, 2001.

ADDRESSES: Gerald B. Lindrew, Office of

Policy and Research, U.S. Department of