[Federal Register Volume 60, Number 31 (Wednesday, February 15, 1995)]
[Rules and Regulations]
[Pages 8571-8572]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-3674]



=======================================================================
-----------------------------------------------------------------------

FEDERAL COMMUNICATIONS COMMISSION

47 CFR Part 24

[PP Docket No. 93-253]


Implementation of Section 309(j) of the Communications Act--
Competitive Bidding

AGENCY: Federal Communications Commission.

ACTION: Final rule; correction.

-----------------------------------------------------------------------

SUMMARY: This document contains corrections to the Federal Register 
document containing the synopsis of the Fifth Memorandum Opinion and 
Order in PP Docket 93-253, which was published December 7, 1994 (59 FR 
63210). The Federal Register document contained regulations related to 
the broadband PCS auction rules.

EFFECTIVE DATE: February 6, 1995.

FOR FURTHER INFORMATION CONTACT:
Sue McNeil (202) 418-0620.

SUPPLEMENTARY INFORMATION: 

Background

    The Federal Register summary that is the subject of these 
corrections sets forth rules designed to ensure that small businesses, 
rural telephone companies and businesses owned by minorities and women 
have the opportunity to compete for and obtain licenses for broadband 
personal communications services (broadband PCS) and to attract the 
investment capital needed to have meaningful involvement in building 
and managing this nation's broadband PCS infrastructure.

Need for Correction

    As published, the Federal Register document inadvertently omitted 
portions of rules which need to be inserted to avoid confusion. The 
omitted rule portions were contained in the original document as 
released by the Federal Communications Commission on November 23, 1994.

Correction of Publication

    Accordingly, the publication on December 7, 1994 of the Federal 
Register final rule, FR Doc. 94-30075, is corrected as follows:
    1. Section 24.720(l)(3) introductory text and examples on page 
63237, columns is corrected to read as follows:


Sec. 24.720  Definitions.

* * * * *
    (l) Affiliate.
* * * * *
    (3) Identity of interest between and among persons. Affiliation can 
arise [[Page 8572]] between or among two or more persons with an 
identity of interest, such as members of the same family or persons 
with common investments. In determining if the applicant controls or is 
controlled by a concern, persons with an identity of interest will be 
treated as though they were one person.
    Example 1. Two shareholders in Corporation Y each have attributable 
interests in the same PCS application. While neither shareholder has 
enough shares to individually control Corporation Y, together they have 
the power to control Corporation Y. The two shareholders with these 
common investments (or identity of interest) are treated as though they 
are one person and Corporation Y would be deemed an affiliate of the 
applicant.
    Example 2. One shareholder in Corporation Y, shareholder A, has an 
attributable interest in a PCS application. Another shareholder in 
Corporation Y, shareholder B, has a nonattributable interest in the 
same PCS application. While neither shareholder has enough shares to 
individually control Corporation Y, together they have the power to 
control Corporation Y. Through the common investment of shareholders A 
and B in the PCS application, Corporation Y would still be deemed an 
affiliate of the applicant.
* * * * *
    3. Section 24.720(o) on page 63238, column 3, corrected to read as 
follows:


Sec. 24.720  Definitions.

* * * * *
    (o) Preexisting entity; Existing investor. A preexisting entity is 
an entity that was operating and earning revenues for at least two 
years prior to December 31, 1994. An existing investor is a person or 
entity that was an owner of record of a preexisting entity's equity as 
of November 10, 1994, and any person or entity acquiring de minimus 
equity holdings in a preexisting entity after that date.

    Note: In applying the term existing investor to de minimus 
interests in preexisting entities obtained or increased after 
November 10, 1994, the Commission will scrutinize any significant 
restructuring of the preexisting entity that occurs after that date 
and will presume that any change of equity that is five percent or 
less of the preexisting entity's total equity is de minimis. The 
burden is on the applicant (or licensee) to demonstrate that changes 
that exceed five percent are not significant.

Federal Communications Commission.
William F. Caton,
Secretary.
[FR Doc. 95-3674 Filed 2-14-95; 8:45 am]
BILLING CODE 6712-01-M