64466 Federal Register / Vol. 60, No. 241 / Friday, December 15, 1995 / Notices

1 15 U.S.C. 78s(b)(1) (1988).

2The Commission has modified parts of these

statements.

3Securities Exchange Act Release Nos. 27984

(May 2, 1990), 55 FR 19400 and 33852 (April 13,

1994), 59 FR 17634.

4Pursuant to NSCC’s shareholders agreement, one

director represents each of NSCC’s shareholders

(the New York Stock Exchange, the American Stock

Exchange, and the National Association of

Securities Dealers), one director represents

management, and the remaining directors are

selected from NSCC’s participants. Thus, the

additional director will be selected from NSCC’s

participants.

5The number of directors may be increased or

decreased at any time by amendment of the by-laws

by either a vote of the shareholders entitled to vote

for election of directors or by majority of the entire

board.

6 15 U.S.C. 78q–1 (1988). 7 15 U.S.C. 78q–1(b)(3)(C) (1988).

should refer to File No. SR–CSE–95–10

and should be submitted by January 4,

1996.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–30530 Filed 12–14–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–36570; File No. SR–NSCC–

95–14]

Self-Regulatory Organizations;

National Securities Clearing

Corporation; Notice of Filing and Order

Granting Accelerated Approval of a

Proposed Rule Change Amending

NSCC’s By-Laws to Provide for an

Additional Member of the Board of

Directors

December 11, 1995.

Pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934 (the

‘‘Act’’),1 notice is hereby given that on

November 3, 1995, National Securities

Clearing Corporation (‘‘NSCC’’) filed

with the Securities and Exchange

Commission (‘‘Commission’’) the

proposed rule change as described in

Items I and II below, which items have

been prepared primarily by NSCC. The

Commission is publishing this notice

and order to solicit comments on the

proposed rule change from interested

persons and to grant accelerated

approval of the proposed rule change.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The proposed rule change amends

Article II, Section 2.1 of NSCC’s by-laws

to allow for an additional member of its

board of directors.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission,

NSCC included statements concerning

the purpose of and basis for the

proposed rule change and discussed any

comments it received on the proposed

rule change. The text of these statements

may be examined at the places specified

in Item IV below. NSCC has prepared

summaries, set forth in sections (A), (B),

and (C) below, of the most significant

aspects of such statements.2

(A) Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

When NSCC was originally formed,

the number of directors on its board was

sixteen. In order to provide a greater

representation by participants in the

management of NSCC, this number was

increase to seventeen in 1984, to

eighteen in 1989, and to nineteen in

1994.3 Since that time, NSCC has

continued to expand its list of

participants, and NSCC believes that it

is in its participants’ interest that the

number of directors again be increased.4

NSCC’s by-laws permit the number of

directors to be increased from time to

time.5 The proposed rule change

consists of an amendment to the by-laws

which increases the number of directors

on the board from nineteen to twenty.

The additional participant director will

further the opportunity for participants

to be represented on the board.

The proposed rule change is

consistent with Section 17A of the Act

in that it increases the opportunity for

NSCC’s participants to be involved in

the administration of NSCC’s affairs.6

(B) Self-Regulatory Organization’s

Statement on Burden on Competition

NSCC does not believe that the

proposed rule change will have an

impact on or impose a burden on

competition.

(C) Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants, or Others

No written comments have been

solicited or received. NSCC will notify

the Commission of any written

comments received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Section 17A(b)(3)(C) states that the

rules of a clearing agency must assure

fair representation of its shareholders

(or members) and participants in the

selection of its directors and

administration of its affairs.7 The

Commission believes that the proposed

increase in the number of directors on

the board is consistent with NSCC’s

obligations under Section 17A because

the result will be a board which better

reflects NSCC’s participants. As a result,

participants will be afforded additional

opportunities to raise, discuss, and help

resolve issues that affect them.

NSCC has requested that the

Commission find good cause for

approving the proposed rule change

prior to the thirtieth day after the date

of publication of notice of the filing. The

Commission finds good cause for so

approving the proposed rule change

because it will give NSCC the

opportunity to have the additional

participant member elected prior to and

possibly participate in NSCC’s next

board meeting, which is scheduled for

December 14, 1995.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street NW.,

Washington, D.C. 20549. 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

Section, 450 Fifth Street N.W.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of the above-mentioned selfregulatory organization. All submissions

should refer to the file number SR–

NSCC–95–14 and should be submitted

January 5, 1996.

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act, that the

proposed rule change (File No. SR–

NSCC–95–14) be and hereby is

approved.
Federal Register / Vol. 60, No. 241 / Friday, December 15, 1995 / Notices 64467

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–30568 Filed 12–14–95;8:45am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

Revocation of License of Small

Business Investment Company

Pursuant to the authority granted to

the United States Small Business

Administration by the Order of the

United States District Court for the

Central District of California, dated July

1, 1976, the United States Small

Business Administration hereby revokes

the license of , a California corporation,

to function as a small business

investment company under the Small

Business Investment Company License

No. 09/14-0012 issued to Investcal

Small Business Investment Company on

June 30, 1972 and said license is hereby

declared null and void as of December

11, 1995.

Dated: December 11, 1995.

United States Small Business

Administration.

Don A. Christensen,

Associate Administrator for Investment.

[FR Doc. 95–30535 Filed 12–14–95; 8:45 am]

BILLING CODE 8025–01–P

Revocation of License of Small

Business Investment Company

Pursuant to the authority granted to

the United States Small Business

Administration by the Order of the

United States District Court for the

Eastern District of California, dated

October 6, 1995, the United States Small

Business Administration hereby revokes

the license of Yosemite Capital

Investment Co., Inc., a California

corporation, to function as a small

business investment company under the

Small Business Investment Company

License No. 09/09–5236 issued to

Yosemite Capital Investment Co., Inc.

on July 17, 1979 and said license is

hereby declared null and void as of

December 11, 1995.

Dated: December 11, 1995.

United States Small Business

Administration.

Don A. Christensen,

Associate Administrator for Investment

[FR Doc. 95–30536 Filed 12–14–95; 8:45 am]

BILLING CODE 8025–01–P

Providence Advisory Council Meeting;

Public Meeting

The U.S. Small Business

Administration Providence District

Advisory Council will hold a public

meeting on Friday, January 5, 1996 at

8:00 a.m. at the Providence Marriott,

Charles at Orms Streets, Providence,

Rhode Island to discuss matters as may

be presented by members, staff of the

U.S. Small Business Administration, or

others present.

For further information, write or call

the office of the District Director,

Providence District Office, U.S. Small

Business Administration, 380

Westminster Street, Providence, Rhode

Island 02903, (401) 528–4580.

Dated: December 8, 1995.

Art DeCoursey,

Director, Office of Advisory Council.

[FR Doc. 95–30520 Filed 12–14–95; 8:45 am]

BILLING CODE 8025–01–P

DEPARTMENT OF TRANSPORTATION

Aviation Proceedings; Agreements

Filed During the Week Ending 12/ 8/95

The following Agreements were filed

with the Department of Transportation

under the provisions of 49 U.S.C 412

and 414. Answers may be filed within

21 days of date of filing.

Docket Number: OST–95–902

Date filed: December 4, 1995

Parties: Members of the International

Air Transport Association

Subject:

TC23 Reso/P 0725 dated December 1,

1995 r1–8

TC23 Reso/P 0728 dated December 1,

1995 r9–15

Expedited Middle East-TC3 resos

Intended effective date: expedited

January 31/February 1, 1996

Docket Number: OST–95–903

Date filed: December 4, 1995

Parties: Members of the International

Air Transport Association

Subject:

TC23 Reso/P 0715 dated November

24, 1995 r1–6

TC23 Reso/P 0716 dated November

24, 1995 r7

TC23 Reso/P 0717 dated November

24, 1995 r8–9

Europe-Japan/Korea Expedited Resos

Intended effective date: expedited

January 15, 1996

Docket Number: OST–95–904

Date filed: December 4, 1995

Parties: Members of the International

Air Transport Association

Subject:

TC2 Reso/P 1871 dated December 1,

1995 r1

TC2 Reso/P 1872 dated December 1,

1995 r2–7

Expedited Middle East-Africa resos

Intended effective date: expedited

January 14/15, 1996

Docket Number: OST–95–913

Date filed: December 6, 1995

Parties: Members of the International

Air Transport Association

Subject:

TC23 Reso/P 0722 dated December 1,

1995 r1

TC23 Reso/P 0723 dated December 1,

1995 r2–6

Expedited Africa-TC3 resos

Intended effective date: expedited

January 31/February 1, 1996

Paulette V. Twine,

Chief, Documentary Services Division.

[FR Doc. 95–30574 Filed 12–14–95; 8:45 am]

BILLING CODE 4910–62–P

Notice of Applications for Certificates

of Public Convenience and Necessity

and Foreign Air Carrier Permits Filed

Under Subpart Q During the Week

Ending December 8, 1995

The following Applications for

Certificates of Public Convenience and

Necessity and Foreign Air Carrier

Permits were filed under Subpart Q of

the Department of Transportation’s

Procedural Regulations (See 14 CFR

302.1701 et. seq.). The due date for

Answers, Conforming Applications, or

Motions to modify Scope are set forth

below for each application. Following

the Answer period DOT may process the

application by expedited procedures.

Such procedures may consist of the

adoption of a show-cause order, a

tentative order, or in appropriate cases

a final order without further

proceedings.

Docket Number: OST–95–900

Date filed: December 4, 1995

Due Date for Answers, Conforming

Applications, or Motion to Modify

Scope: January 1, 1996

Description: Application of Piedmont

Aviation Services, Inc., pursuant to 49

U.S.C. 41101 and 204.5 and Subpart

Q of the Regulations, requests a

fitness determination and issuance of

a certificate of public convenience

and necessity to engage in charter

foreign air transportation of persons,

property and mail.

Docket Number: OST–95–907

Date filed: December 5, 1995

Due Date for Answers, Conforming

Applications, or Motion to Modify

Scope: January 2, 1996

Description: Application of Time Air

Inc., pursuant to 49 U.S.C. 41304 and