Federal Register / Vol. 70, No. 182 / Wednesday, September 21, 2005 / Notices 55431 

1Black Hills is engaged in two lines of business: 

(1) The generation, transmission, distribution and 

sale of electricity to retail and wholesale customers; 

and (2) through Black Hills Energy and its 

subsidiaries, the development, ownership and 

operation of exempt wholesale generators, as 

defined in section 32 of the Act, qualifying facilities 

as defined in the Public Utility Regulatory Policies 

Act of 1978, as amended, and the production, 

transportation and marketing of natural gas, oil, 

coal and other energy commodities, power 

marketing and other energy-related activities. 

Applicants previously engaged in certain exempt 

telecommunications activities and these businesses 

have recently been sold. 

2Black Hills Corporation, et al., Holding 

Company Act Release No. 27931. Black Hills 

registered as a public-utility holding company 

under the Act earlier this year, in 2005. By the 

Financing Order, Black Hills, then a public-utility 

holding company exempt from registration under 

section 3(a)(1) of the Act by rule 2, Black Hills 

Power, its subsidiary electric-utility company, and 

all other direct and indirect subsidiaries, were 

authorized to engage in financing and investment 

activities, intrasystem services and other related 

activities and transactions, through December 31, 

2007, following Black Hills’ registration as a publicutility holding company. A recent, related notice 

was issued on July 26, 2005, addressing certain 

administrative money pool matters. See Black Hills 

Corporation, et al., Holding Co. Act Release No. 

28003. No hearing has been requested. 

3Black Hills states that it explained, in its 

application for the Financing Order, that the Black 

Hills system companies will engage in a variety of 

affiliate transactions for goods, services and 

construction, in accordance with rules 87, 88, 90 

and 91, unless otherwise authorized by Commission 

order or rule. Black Hills states it also committed 

to file accounting and cost allocation procedures 

with the Commission by October 1, 2005; to form 

Black Hills Service within sixty days of issuance of 

the Financing Order, but sought authority to delay 

(for not longer than twelve months) the full 

implementation of Black Hills Service and the 

required accounting systems and cost allocation 

methodologies; and finally, to complete conversion 

of non-exempt market-based rate affiliate 

transactions to cost-based transactions (not later 

than twelve months following issuance of the 

Financing Order). In the Financing Order, the 

Commission acknowledged Black Hills’ plans for 

these procedures, Black Hills Service and the 

affiliate arrangements. 

4Black Hills states that it established Black Hills 

Service and has taken significant steps to 

implement it. Black Hills states further that, in this 

implementation, it has already expended significant 

resources in extensive planning and organizational 

initiatives to identify employees and functions to be 

transferred to Black Hills Service, defining 

extensive new organizational, management and 

personnel structures to be put in place at Black 

Hills Service and associate companies and 

formulating required changes to human resources 

systems and pension and benefit plans. 

total annual expense for all brokerdealers of $440,000. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

Written comments regarding the 

above information should be directed to 

the following persons: (i) Desk Officer 

for the Securities and Exchange 

Commission, Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, Room 10102, 

New Executive Office Building, 

Washington, DC 20503 or by sending an 

e-mail to: David_Rostker@omb.eop.gov; 

and (ii) R. Corey Booth, Director, Chief 

Information Officer, Office of 

Information Technology, Securities and 

Exchange Commission, 100 F Street, 

NE., Washington, DC 20549. Comments 

must be submitted to OMB within 30 

days of this notice. 

Dated: September 13, 2005. 

Jonathan G. Katz, 

Secretary. 

[FR Doc. 05–18764 Filed 9–20–05; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 35–28029] 

Filings Under the Public Utility Holding 

Company Act of 1935, as Amended 

(‘‘Act’’) 

September 14, 2005. 

Notice is hereby given that the 

following filing(s) has/have been made 

with the Commission pursuant to 

provisions of the Act and rules 

promulgated under the Act. All 

interested persons are referred to the 

application(s) and/or declaration(s) for 

complete statements of the proposed 

transaction(s) summarized below. The 

application(s) and/or declaration(s) and 

any amendment(s) is/are available for 

public inspection through the 

Commission’s Branch of Public 

Reference. 

Interested persons wishing to 

comment or request a hearing on the 

application(s) and/or declaration(s) 

should submit their views in writing by 

October 6, 2005, to the Secretary, 

Securities and Exchange Commission, 

Washington, DC 20549–0609, and serve 

a copy on the relevant applicant(s) and/ 

or declarant(s) at the address(es) 

specified below. Proof of service (by 

affidavit or, in the case of an attorney at 

law, by certificate) should be filed with 

the request. Any request for hearing 

should identify specifically the issues of 

facts or law that are disputed. A person 

who so requests will be notified of any 

hearing, if ordered, and will receive a 

copy of any notice or order issued in the 

matter. After October 6, 2005, the 

application(s) and/or declaration(s), as 

filed or as amended, may be granted 

and/or permitted to become effective. 

Black Hills Corporation, et al. (70–

10237) 

Black Hills Corporation (‘‘Black 

Hills’’), a registered public-utility 

holding company, Black Hills Power, 

Inc. (‘‘Black Hills Power’’), an electricutility subsidiary of Black Hills, both 

located at 625 Ninth Street, Rapid City, 

SD 57701, and Cheyenne Light, Fuel 

and Power Company, also an electricutility subsidiary of Black Hills, located 

at 108 West 18th, Cheyenne, WY 82001, 

Black Hills Energy, Inc. (‘‘Black Hills 

Energy’’), a nonutility subsidiary of 

Black Hills, and all of Black Hills other 

subsidiaries (collectively, 

‘‘Subsidiaries’’), located at 625 Ninth 

Street, Rapid City, SD 57701 

(collectively, ‘‘Applicants’’), have filed 

with the Commission a post-effective 

amendment to their previously filed 

application-declaration (‘‘Application’’) 

under sections 6(a), 7, 9(a), 10, 11, 12(b) 

and (c), 13(b), 32, 33 and 34 of the Act 

and rules 42, 43, 45, 52, 53, 54, 58 and 

88 through 92. 

Black Hills requests certain 

extensions of time. 

I. Background 

Black Hills is an integrated publicutility holding company.1 On December 

28, 2004, the Commission authorized 

Black Hills and its Subsidiaries to 

engage in various financing and other 

transactions (‘‘Financing Order’’).2 In 

connection with the Financing Order, 

Black Hills committed to establish a 

limited liability subsidiary, Black Hills 

Service Company, LLC (‘‘Black Hills 

Service’’), to provide centralized 

services (such as accounting, financial, 

human resources, information 

technology and legal services) to the 

companies in the Black Hills system 3

and to submit certain filings to the 

Commission and to implement certain 

processes and methodologies by 

December 28, 2005.4

The Act was repealed on August 8, 

2005, and the Public Utility Holding 

Company Act of 2005 (‘‘PUHCA 2005’’) 

was enacted on that date by the Energy 

Policy Act of 2005 (‘‘Energy Policy Act 

2005’’). The repeal of the Act ends the 

Commission’s authority over Black Hills 

and the Black Hills system under this 

statute as of February 8, 2006 and 

subjects Black Hills and the Black Hills 

system to new, but in certain respects 

similar, regulation by the Federal 

Energy Regulatory Commission 

(‘‘FERC’’) under PUHCA 2005. 

FERC is required to issue certain 

PUHCA 2005 regulations by December 

8, 2005. Black Hills states that the new 

FERC regulations may affect some of the 

processes and methodologies relating to 

allocation of costs, among other things, 

that were addressed in the Financing 

Order. 

55432 Federal Register / Vol. 70, No. 182 / Wednesday, September 21, 2005 / Notices 

1Section 3(a)(34) defines ‘‘appropriate regulatory 

authority’’ when used in the context of transfer 

agents as generally (1) the Comptroller of the 

Currency, in the case of a national bank or a bank 

or a subsidiary of such bank; (2) the Board of 

Governors of the Federal Reserve System or 

subsidiary thereof, a bank holding company or a 

subsidiary of a bank holding company; (3) the 

Federal Deposit Insurance Corporation; and (4) the 

Commission in the case of all other transfer agents. 

Section 17A(c)(1) also requires that the Commission 

not object to the use of exemptive authority in 

instances where an appropriate regulatory authority 

other than the Commission is providing exemptive 

relief. 

II. Requested Authority 

Black Hills, therefore, requests the 

Commission to permit it: 

1. To extend Black Hills’ time for 

certain filings with the Commission, 

from October 1, 2005, through February 

8, 2006, the effective date of the Act’s 

repeal (describing accounting systems 

and cost allocation methodologies); 

2. To extend the time for Black Hills’

full implementation of Black Hills 

Service, from December 28, 2005, 

through February 8, 2006, the effective 

date of the Act’s repeal (accounting 

systems and cost allocation 

methodologies); and 

3. To extend the time for Black Hills’

conversions of non-exempt marketbased rate affiliate transactions to costbased transactions from December 28, 

2005, through February 8, 2006, the 

effective date of the Act’s repeal. 

For the Commission, by the Division of 

Investment Management, pursuant to 

delegated authority. 

Jonathan G. Katz, 

Secretary. 

[FR Doc. 05–18817 Filed 9–20–05; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release Nos. 52444/September 15, 2005 

and 27067/September 15, 2005] 

Securities Exchange Act of 1934 and 

Investment Company Act of 1940; 

Order Under Section 17a and Section 

36 of the Securities Exchange Act of 

1934 Granting Exemptions From 

Specified Provisions of the Exchange 

Act and Certain Rules Thereunder; 

Order Under Section 6(c) and Section 

38(a) of the Investment Company Act 

of 1940 Granting Exemptions From 

Specified Provisions of the Company 

Act and Certain Rules Thereunder 

Section 36 of the Securities Exchange 

Act of 1934 (the ‘‘Exchange Act’’) 

authorizes the Securities and Exchange 

Commission (the ‘‘Commission’’), by 

rule, regulation, or order, to exempt, 

either conditionally or unconditionally, 

any person, security, or transaction, or 

any class or classes of persons, 

securities, or transactions, from any 

provision or provisions of the Exchange 

Act or any rule or regulation thereunder, 

to the extent that such exemption is 

necessary or appropriate in the public 

interest, and is consistent with the 

protection of investors. 

Section 17A(c)(1) of the Exchange Act 

provides that the appropriate regulatory 

agency, by rule or by order, upon its 

own motion or upon application, may 

conditionally or unconditionally 

exempt any person or security or class 

of person or securities from any 

provision of that section or any rule or 

regulation prescribed under Section 

17A, if the appropriate regulatory 

agency finds that such exemption is in 

the public interest and consistent with 

the protection of investors and the 

purposes of this section, including the 

prompt and accurate clearance and 

settlement of securities transactions and 

the safeguarding of securities and 

funds.1

Section 6(c) of the Investment 

Company Act of 1940 (the ‘‘Company 

Act’’) provides that the Commission 

may exempt any person, security, or 

transaction, or any class or classes of 

persons, securities or transactions, from 

any provision of the Company Act, or 

any rule or regulation thereunder, if and 

to the extent that such exemption is 

necessary or appropriate in the public 

interest and consistent with the 

protection of investors and the purposes 

fairly intended by the policy and 

provisions of the Company Act. Section 

38(a) of the Company Act provides that 

the Commission may make, issue, 

amend and rescind such rules and 

regulations and such orders as are 

necessary or appropriate to the exercise 

of the powers conferred upon the 

Commission under the Act. 

Hurricane Katrina made landfall along 

the Gulf Coast on August 29, 2005, 

causing catastrophic damage to portions 

of Alabama, Louisiana and Mississippi. 

The storm and subsequent flooding 

displaced individuals and businesses 

and disrupted communications across 

the Gulf Coast region. We are issuing 

this Order to address the needs of 

companies and individuals located 

within the areas affected by Hurricane 

Katrina that must comply with the 

requirements of the federal securities 

laws. 

I. Filing Requirements for Registrants 

and Other Persons 

The lack of communications, facilities 

and available staff and professional 

advisors as a result of Hurricane Katrina 

could hamper the efforts of public 

companies and other persons in the 

affected areas in their compliance with 

filing deadlines. At the same time, 

investors have an interest in the timely 

availability of required information 

about these companies and the activities 

of persons required to file schedules and 

reports with respect to these companies. 

While the Commission believes that the 

relief from filing requirements provided 

by this Order is both necessary in the 

public interest and consistent with the 

protection of investors, we remind 

public companies and other persons 

who are the subjects of this Order to 

continue to evaluate their obligations to 

make materially accurate and complete 

disclosures in accordance with the antifraud provisions of the federal securities 

laws. 

Accordingly, it is ordered, pursuant to 

Section 36 of the Exchange Act, that a 

registrant (as defined in Exchange Act 

Rule 12b–2) subject to the reporting 

requirements of Exchange Act Section 

13(a) or 15(d), and any person required 

to make any filings with respect to such 

a registrant, is exempt from any 

requirement to file or furnish materials 

with the Commission under Exchange 

Act Sections 13(a), 13(d), 13(g), 14(a), 

14(c), 15(d) and 16(a), Regulations 13A, 

13D, 13G, 14A, 14C and 15D, and Rule 

16a–3, as applicable, for the period from 

and including August 29, 2005 to 

October 14, 2005, where the conditions 

below are satisfied. 

Conditions 

(a) With respect to registrants, the 

address of the registrant’s principal 

executive offices listed on the cover 

page of the most recent periodic report 

filed by the registrant on Form 10–Q, 

10–QSB, 10–K, or 10–KSB is within one 

of the counties or parishes designated as 

of this date to be within the 

Presidentially Declared Disaster Areas 

where Individual Assistance has been 

authorized by the Federal Emergency 

Management Agency as a result of 

Hurricane Katrina (the ‘‘Presidential 

Disaster Areas’’), which include the 

Louisiana parishes of: Acadia, 

Ascension, Assumption, Calcasieu, 

Cameron, East Baton Rouge, East 

Feliciana, Iberia, Iberville, Jefferson, 

Jefferson Davis, Lafayette, Lafourche, 

Livingston, Orleans, Pointe Coupee, 

Plaquemines, St. Bernard, St. Charles, 

St. Helena, St. James, St. John, St. Mary, 

St. Martin, St. Tammany, Tangipahoa, 

Terrebonne, Vermilion, Washington, 

West Baton Rouge, and West Feliciana; 

the Mississippi counties of: Adams, 

Amite, Attala, Claiborne, Choctaw, 

Clarke, Copiah, Covington, Forrest, 

Franklin, George, Greene, Hancock, 

Harrison, Hinds, Jackson, Jasper,