53398 Federal Register / Vol. 70, No. 173 / Thursday, September 8, 2005 / Notices 

traffic congestion during the 

construction phase, (3) potential 

moderate impacts due to transportation 

accidents, (4) potential moderate 

impacts from facility operation 

accidents, (5) moderate impacts 

associated with a potential operating 

extension of the DOE depleted uranium 

tails conversion facility, and (6) 

moderate employment impacts on the 

local communities associated with the 

construction and operation phases. 

After weighing the impacts, costs, and 

benefits of the proposed action and 

comparing alternatives, the NRC staff, in 

accordance with 10 CFR 51.71(e), set 

forth their preliminary recommendation 

regarding the proposed action. The NRC 

staff recommend that, unless safety 

issues mandate otherwise, the action 

called for is the approval of the 

proposed action (i.e., issue a license). 

The DEIS is a preliminary analysis of 

the environmental impacts of the 

proposed action and its alternatives. 

The Final EIS and any decision 

documentation regarding the proposed 

action will not be issued until public 

comments on the DEIS have been 

received and evaluated. Notice of the 

availability of the Final EIS will be 

published in the Federal Register. 

The NRC staff in the Division of Fuel 

Cycle Safety and Safeguards are 

currently completing the safety review 

for USEC’s license application and is 

currently scheduled for completion in 

the Spring of 2006. 

Dated at Rockville, Maryland, this 30th day 

of August, 2005. 

For the Nuclear Regulatory Commission. 

Scott C. Flanders, 

Deputy Director, Environmental and 

Performance Assessment Directorate, 

Division of Waste Management and 

Environmental Protection, Office of Nuclear 

Material Safety and Safeguards. 

[FR Doc. E5–4878 Filed 9–7–05; 8:45 am] 

BILLING CODE 7590–01–P 

OFFICE OF MANAGEMENT AND 

BUDGET 

Acquisition Advisory Panel; 

Notification of Upcoming Meetings of 

the Acquisition Advisory Panel 

AGENCY: Office of Management and 

Budget, Executive Office of the 

President. 

ACTION: Notice of Federal advisory 

committee meetings. 

SUMMARY: The Office of Management 

and Budget announces a meeting of the 

Acquisition Advisory Panel (AAP or 

‘‘Panel’’) established in accordance with 

the Services Acquisition Reform Act of 

2003. 

DATES: The public meeting of the Panel 

will be held on September 27, 2005, 

beginning at 9 a.m. Eastern Time and 

ending no later than 5 p.m. 

ADDRESSES: The public meeting will be 

held at the Federal Deposit Insurance 

Corporation (FDIC), Basement 

auditorium, 801 17th Street NW., 

Washington, DC 20434. The public is 

asked to pre-register one week in 

advance of the meeting due to security 

and/or seating limitations (see below for 

information on pre-registration). 

FOR FURTHER INFORMATION CONTACT: 

Members of the public wishing further 

information concerning the meeting or 

the Acquisition Advisory Panel itself, or 

to pre-register for the meeting, should 

contact Ms. Laura Auletta, Designated 

Federal Officer (DFO), at: 

laura.auletta@gsa.gov, phone/voice mail 

(202) 208–7279, or mail at: General 

Services Administration, 1800 F. Street, 

NW., Room 4006, Washington, DC 

20405. Members of the public wishing 

to reserve speaking time should refer to 

the instructions in paragraph (c) below, 

Oral Public Comments. 

SUPPLEMENTARY INFORMATION: 

(a) Background: The purpose of the 

Panel is to provide independent advice 

and recommendations to the Office of 

Federal Procurement Policy and 

Congress pursuant to Section 1423 of 

the Services Acquisition Reform Act of 

2003. The Panel’s statutory charter is to 

review Federal contracting laws, 

regulations, and governmentwide 

policies, including the use of 

commercial practices, performancebased contracting, performance of 

acquisition functions across agency 

lines of responsibility, and 

governmentwide contracts. Interested 

parties are invited to attend the 

meetings. Opportunity for oral public 

comments will be provided at this 

meeting. See paragraph (c) below for 

instructions on presenting oral public 

comments. Time for oral public 

comments is expected at future public 

meetings as well and will be announced 

in the Federal Register. 

September 27, 2005 Meeting—The 

working groups, established at previous 

public meetings of the AAP (see http:// 

www.acqnet.gov/aap for a list of 

working groups), will report on their 

first drafts of background statements. 

The Panel also expects to hear from 

additional invited speakers from the 

public and private sectors who will 

address issues related to the Panel’s 

statutory charter, including commercial 

practices and performance-based 

contracting as well as interagency 

contracting. 

(b) Availability of Materials for the 

Meetings: Please see the Acquisition 

Advisory Panel Web site for any 

available materials, including draft 

agendas, for these meetings (http:// 

www.acqnet.gov/aap). Questions/issues 

of particular interest to the Panel are 

also available to the public on this Web 

site on its front page, including 

‘‘Questions for Government Buying 

Agencies,’’ ‘‘Questions for Contractors 

that Sell Commercial Goods or Services 

to the Government,’’ ‘‘Questions for 

Commercial Organizations,’’ and an 

issue raised by one Panel member 

regarding the rules of interpretation and 

performance of contracts and liabilities 

of the parties entitled ‘‘Proposal for 

Public Comment.’’ The Panel 

encourages the public to address any of 

these questions/issues when presenting 

either oral public comments or written 

statements to the Panel. The public may 

also obtain copies of Initial Working 

Group Reports presented at the March 

30, 2005 public meeting and the followup scope reports presented at the June 

14, 2005 public meeting at the Panel’s 

Web site under ‘‘Meeting Materials’’ at 

this Web site. Minutes for each meeting 

are also posted. 

(c) Procedures for Providing Public 

Comments: It is the policy of the 

Acquisition Advisory Panel to accept 

written public comments of any length, 

and to accommodate oral public 

comments whenever possible. To 

facilitate Panel discussions at its 

meetings, the Panel may not accept oral 

comments at all meetings. The Panel 

Staff expects that public statements 

presented at Panel meetings will be 

focused on the Panel’s statutory charter 

and working group topics, and not be 

repetitive of previously presented oral 

comments, and that comments will be 

relevant to the issues under discussion. 

Oral Public Comments: One hour has 

been reserved for oral public comments 

at this meeting. Speaking times will be 

confirmed by Panel staff on a ‘‘firstcome/first-serve’’ basis. To 

accommodate as many speakers as 

possible, oral public comments must be 

no longer than 10 minutes. Because 

Panel members may ask questions, 

reserved times will be approximate. 

Interested parties must contact Ms. 

Pamela Gouldsberry, AAP Senior Staff 

Analyst, in writing at: 

pamela.gouldsberry@gsa.gov, by FAX at 

202–501–3341, or mail at the address 

given above for the DFO, no later than 

one week prior to the meeting in order 

to be placed on the public speaker list. 

Verbal requests for speaking time will 

not be taken. Speakers are requested to 

Federal Register / Vol. 70, No. 173 / Thursday, September 8, 2005 / Notices 53399 

1Applicants also request that any relief granted 

pursuant to the application extend to any other 

existing or future registered open-end management 

investment company or series therof that: (i) Is 

advised by FTAM or any entity controlling, 

controlled by, or under common control with 

FTAM and (ii) uses the multi-manager structure 

described in the application (‘‘Future Funds,’’

included in the term ‘‘Multi-Manager Funds’’). Any 

Fund or Future Fund that relies on the requested 

order will do so only in accordance with the terms 

and conditions contained in the application. The 

Trusts are the only existing investment companies 

that currently intend to rely on the order. If the 

name of any Multi-Manager Fund contains the 

name of a Sub-Advisor (as defined below), it will 

be preceded by FTAM’s name. 

2The term ‘‘shareholder’’ includes variable life 

insurance policy and variable annuity contract 

owners that are unit holders of any separate account 

for which a series of the Variable Insurance Funds 

serves as a funding medium. 

bring extra copies of their comments 

and presentation slides, if used, for 

distribution to the Panel at the meeting. 

Speakers wishing to use a Power Point 

presentation must e-mail the 

presentation to Ms. Gouldsberry one 

week in advance of the meeting. 

Written Comments: Although written 

comments are accepted until the date of 

the meeting (unless otherwise stated), 

written comments should be received by 

the Panel Staff at least one week prior 

to the meeting date so that the 

comments may be made available to the 

Panel for their consideration prior to the 

meeting. Written comments should be 

supplied to the DFO at the address/ 

contact information given in this Notice 

in one of the following formats (Adobe 

Acrobat, WordPerfect, Word, or Rich 

Text files, in IBM–PC/Windows 98/ 

2000/XP format). Please note: The Panel 

operates under the provisions of the 

Federal Advisory Committee Act, as 

amended, therefore, all public 

presentations and written statements 

will be treated as public documents and 

will be made available for public 

inspection, up to and including being 

posted on the Panel’s Web site. 

(d) Meeting Accommodations: 

Individuals requiring special 

accommodation to access the public 

meetings listed above should contact 

Ms. Auletta at least five business days 

prior to the meeting so that appropriate 

arrangements can be made. 

Laura Auletta, 

Designated Federal Officer (Executive 

Director), Acquisition Advisory Panel. 

[FR Doc. 05–17841 Filed 9–7–05; 8:45 am] 

BILLING CODE 3110–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

27054; 812–12926] 

Fifth Third Funds, et al.; Notice of 

Application 

September 1, 2005. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice of an application under 

section 6(c) of the Investment Company 

Act of 1940 (‘‘Act’’) for an exemption 

from section 15(a) of the Act and rule 

18f–2 under the Act, as well as certain 

disclosure requirements. 

SUMMARY OF APPLICATION: Applicants 

request an order that would permit them 

to enter into and materially amend subadvisory agreements without 

shareholder approval and would grant 

relief from certain disclosure 

requirements. 

APPLICANTS: Fifth Third Funds and 

Variable Insurance Funds (each, a 

‘‘Trust,’’ and together, the ‘‘Trusts’’), 

and Fifth Third Asset Management Inc. 

(‘‘FTAM’’). 

FILING DATES: The application was filed 

on February 5, 2003, and amended on 

August 16, 2005. 

HEARING OR NOTIFICATION OF HEARING: 

An order granting the application will 

be issued unless the Commission orders 

a hearing. Interested persons may 

request a hearing by writing to the 

Commission’s Secretary and serving 

applicants with a copy of the request, 

personally or by mail. Hearing requests 

should be received by the Commission 

by 5:30 p.m. on September 27, 2005, 

and should be accompanied by proof of 

service on the applicants, 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 Commission’s Secretary. 

ADDRESSES: Secretary, U.S. Securities 

and Exchange Commission, 100 F 

Street, NE., Washington, DC 20549–

9303. Applicants, c/o Alan G. Priest, 

Esq., Ropes & Gray LLP, One Metro 

Center, 700 12th Street, NW., 

Washington, DC 20005–3948. 

FOR FURTHER INFORMATION CONTACT: 

Marc R. Ponchione, Senior Counsel, at 

(202) 551–6874, or Nadya B. Roytblat, 

Assistant Director, at (202) 551–6821 

(Division of Investment Management, 

Office of Investment Company 

Regulation). 

SUPPLEMENTARY INFORMATION: The 

following is a summary of the 

application. The complete application 

may be obtained for a fee at the 

Commission’s Public Reference Desk, 

100 F Street, NE., Washington DC 

20549–0102 (tel. 202–551–5850). 

Applicants’ Representations 

1. Each Trust is organized as a 

Massachusetts business trust and is 

registered under the Act as an open-end 

management investment company. Each 

Trust currently offers multiple series 

(each, a ‘‘Fund’’), each with its own 

investment objectives, restrictions, and 

policies. Certain of the Funds use or 

may use the multi-manager structure 

described below (each, a ‘‘MultiManager Fund,’’ and together, the 

‘‘Multi-Manager Funds’’). FTAM is 

registered as an investment adviser 

under the Investment Advisers Act of 

1940 (‘‘Advisers Act’’) and serves as 

investment adviser to all of the Funds.1

Each Trust, on behalf of its Funds, has 

entered into an investment advisory 

agreement with FTAM (each an 

‘‘Advisory Agreement’’ and collectively, 

the ‘‘Advisory Agreements’’). The 

Advisory Agreements have been 

approved by each Trust’s board of 

trustees (each, a ‘‘Board,’’ and together, 

the ‘‘Boards’’), including a majority of 

the trustees who are not ‘‘interested 

persons,’’ as defined in section 2(a)(19) 

of the Act, of the Trusts (‘‘Independent 

Trustees’’), as well as by each applicable 

Fund’s shareholders.2

2. Under the terms of the Advisory 

Agreements, FTAM oversees each 

Multi-Manager Fund’s investments and 

may select and contract with one or 

more sub-advisors (‘‘Sub-Advisors’’) to 

exercise day-to-day investment 

discretion over all or a portion of the 

assets of a Multi-Manager Fund 

pursuant to a separate investment subadvisory agreement. FTAM monitors 

and evaluates the Sub-Advisors and 

recommends to the Board their hiring, 

retention or termination. Sub-Advisors 

must be approved by a Multi-Manager 

Fund’s Board and by shareholders, and 

may be terminated by the Board or the 

shareholders. Each Sub-Advisor is or 

will be registered under the Advisers 

Act. Each Sub-Advisor’s fee is paid by 

FTAM out of the management fee 

received by FTAM from the MultiManager Funds. 

3. Applicants request relief to permit 

FTAM, subject to Board approval, to 

enter into and materially amend subadvisory agreements without 

shareholder approval. The requested 

relief will not extend to a Sub-Advisor 

that is an affiliated person, as defined in 

section 2(a)(3) of the Act, of a MultiManager Fund or FTAM, other than by 

reason of serving as a Sub-Advisor to 

one or more of the Multi-Manager Fund 

(‘‘Affiliated Sub-Advisor’’).