Federal Register / Vol. 60, No. 43 / Monday, March 6, 1995 / Notices 12257

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

2Letter from David T. Rusoff, Foley & Lardner, to

Jerry Carpenter, Assistant Director, Division of

Market Regulation, Commission (January 30, 1995).

3For a complete description of MSTC’s pilot

SDFS service, refer to Securities Exchange Act

Release No. 32300 (May 12, 1993), 58 FR 29438

[File No. SR–MSTC–90–8] (order approving a pilot

SDFS service).

4 15 U.S.C. 78s(b)(3)(A)(iii) (1988).

5 17 CFR 240.19b–4(e)(4) (1994).

If the final determination is that the

amendment request involves no

significant hazards consideration, the

Commission may issue the amendment

and make it immediately effective,

notwithstanding the request for a

hearing. Any hearing held would take

place after issuance of the amendment.

If the final determination is that the

amendment request involves a

significant hazards consideration, any

hearing held would take place before

the issuance of any amendment.

A request for a hearing or a petition

for leave to intervene must be filed with

the Secretary of the Commission, U.S.

Nuclear Regulatory Commission,

Washington, DC 20555, Attention:

Docketing and Services Branch, or may

be delivered to the Commission’s Public

Document Room, the Gelman Building,

2120 L Street, NW., Washington, DC, by

the above date. Where petitions are filed

during the last 10 days of the notice

period, it is requested that the petitioner

promptly so inform the Commission by

a toll-free telephone call to Western

Union at 1–(800) 248–5100 (in Missouri

1–(800) 342–6700). The Western Union

operator should be given Datagram

Identification Number N1023 and the

following message addressed to William

D. Beckner, Director, Project Directorate

IV–1: petitioner’s name and telephone

number, date petition was mailed, plant

name, and publication date and page

number of this Federal Register notice.

A copy of the petition should also be

sent to the Office of the General

Counsel, U.S. Nuclear Regulatory

Commission, Washington, DC 20555,

and to George L. Edgar, Esq., Newman

and Holtzinger, 1615 L Street, N.W.,

Washington, D.C. 20036, attorney for the

licensee.

Nontimely filings of petitions for

leave to intervene, amended petitions,

supplemental petitions and/or requests

for hearing will not be entertained

absent a determination by the

Commission, the presiding officer or the

presiding Atomic Safety and Licensing

Board that the petition and/or request

should be granted based upon a

balancing of the factors specified in 10

CFR 2.714(a)(1)(i)–(v) and 2.714(d).

For further details with respect to this

action, see the application for

amendment dated February 28, 1995,

which is available for public inspection

at the Commission’s Public Document

Room, the Gelman Building, 2120 L

Street, NW., Washington, DC, and at the

local public document room located at

the University of Texas at Arlington

Library, Government Publications/

Maps, 702 College, P.O. Box 19497,

Arlington, Texas 76019.

Dated at Rockville, Maryland, this 1st day

of March 1995.

For the Nuclear Regulatory Commission.

Timothy J. Polich,

Project Manager, Project Directorate IV–I,

Division of Reactor Projects—III/IV, Office of

Nuclear Reactor Regulation.

[FR Doc. 95–5365 Filed 3–3–95; 8:45 am]

BILLING CODE 7590–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–35425; File No. SR–MSTC–

95–01]

Self-Regulatory Organizations;

Midwest Securities Trust Company;

Notice of Filing and Immediate

Effectiveness of Proposed Rule

Change Making Technical Corrections

to Articles III & IV of the Midwest

Securities Trust Company Rules

February 28, 1995.

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

Securities Exchange Act of 1934 1

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

January 18, 1995, the Midwest

Securities Trust Company (‘‘MSTC’’)

filed with the Securities and Exchange

Commission (‘‘Commission’’) the

proposed rule change as described in

Items I, II, and III below, which items

have been prepared primarily by MSTC.

On January 30, 1995, MSTC amended

the proposal to include an additional

cross-reference correction.2 The

Commission is publishing this notice to

solicit comments on the proposed rule

change from interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

MSTC proposes the following rule

change in order to make technical

corrections to Section 3(ii) of Rule 1 of

Article IV and to Section 2(ii) of Rule

1(B) of Article III of MSTC’s rules.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission,

MSTC 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. MSTC has prepared

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

and (C) below, of the most significant

aspects of such statements.

(A) Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

The purpose of the proposal is to

make a technical revision to Section

3(ii) of Rule 1 of Article IV of MSTC’s

rules. On May 12, 1993, the Commission

approved MSTC’s pilot Same-Day Fund

Settlement (‘‘SDFS’’) service.3 The SDFS

rules amended and renumbered Section

3 of Rule 1 of Article III to Sections 2

and 3 of Rule 1(B) of Article III.

However, Section 3(ii) of Rule 1 of

Article IV was not amended to reflect

the proper cross-reference to Sections 2

and 3 of Rule 1(B) of Article III instead

of Section 3(ii) of Rule 1 of Article III;

this proposal makes this correction.

MSTC also proposes to make a technical

revision to Section 2(ii) of Rule 1(B) of

Article III of MSTC’s rules to reflect the

proper cross-reference to Section 1 of

Rule 1(B) of Article III instead of Section

1 of Rule 1 of Article III.

MSTC believes the proposed rule

change is consistent with the

requirements of the Act, specifically

Section 17A of the Act, and the rules

and regulations thereunder because

clarifying MSTC’s rules will facilitate

the prompt and accurate clearance and

settlement of securities transactions.

(B) Self-Regulatory Organization’s

Statement on Burden on Competition

MSTC 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. MSTC will notify

the Commission of any written

comments received by MSTC.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The foregoing rule change has become

effective pursuant to Section

19(b)(3)(A)(iii) 4 of the Act and pursuant

to Rule 19b–4(e)(4) 5 promulgated

thereunder in that the proposal effects a

change in an existing service that does
12258 Federal Register / Vol. 60, No. 43 / Monday, March 6, 1995 / Notices

6 17 CFR 200.30–3(a)(12) (1994).

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

2For the purpose of the ATS program, ‘‘balance

certificates’’ shall mean a certificate registered in

the name Kray & Co., which is MSTC’s nominee

name, which evidences (1) record ownership by

Kray & Co. of the number of shares or units of the

issue shown from time to time on the records of the

issuer thereof or (2) the duties of the issuer thereof

to perform the obligations shown from time to time

on the records of the issuer thereof, which records

are maintained by a transfer agent, as being

evidenced by such certificate, which certificate

shall be retained by a transfer agent.

3For the purpose of the ATS program, the term

‘‘nominee certificates’’ shall mean a certificate of an

issue registered in the name of Kray & Co. The term

‘‘non-nominee certificate’’ shall mean a certificate

of an issue registered in a name other than Kray &

Co.

not adversely affect the safeguarding of

securities or funds in MSTC’s custody

or control and does not significantly

affect the respective rights or obligations

of MSTC or persons using MSTC’s

services. At any time within sixty days

of the filing of such rule change, the

Commission may summarily abrogate

such rule change if it appears to the

Commission that such action is

necessary or appropriate in the public

interest, for the protection of investors,

or otherwise in furtherance of the

purposes of the Act.

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, DC 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 NW.,

Washington, DC 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of MSTC. All submissions should

refer to File No. SR–MSTC–95–01 and

should be submitted by March 27, 1995.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–5373 Filed 3–3–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–35424; File No. SR–MSTC–

94–21]

Self-Regulatory Organizations;

Midwest Securities Trust Company;

Notice of Filing of Proposed Rule

Change Seeking To Establish an

Automated Program for the Transfer of

Certain Securities Between the

Midwest Securities Trust Company and

Transfer Agents

February 28, 1995.

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

Securities Exchange Act of 1934

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

December 28, 1994, the Midwest

Securities Trust Company (‘‘MSTC’’)

filed with the Securities and Exchange

Commission (‘‘Commission’’) the

proposed rule change as described in

Items I, II, and III below, which Items

have been prepared primarily by MSTC.

The Commission is publishing this

notice to solicit comments on the

proposed rule change from interested

persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

MSTC proposes to establish an

automated program, to be known as

ATS, for the transfer of certain securities

between MSTC and transfer agents.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission,

MSTC 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. MSTC has prepared

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

and (C) below, of the most significant

aspects of such statements.

A. Self-Regulatory Organization’s

Statement of the Purpose of and

Statutory Basis for, the Proposed Rule

Change

The proposed rule change seeks to

establish an automated program for the

transfer of securities between MSTC and

transfer agents. Under MSTC’s proposed

program, MSTC and the transfer agents

participating in the program will use a

master balance certificate 2 to evidence

the number of securities of a particular

issue registered in MSTC’s nominee

name and transferred into or out of

MSTC through the transfer agents. The

transfer agents will have custody of the

securities in the form of balance

certificates registered in MSTC’s

nominee name. The balance certificates

will be adjusted daily to reflect MSTC’s

withdrawal and deposit activity.

Currently, if a participant requests the

withdrawal of one hundred shares of a

security from MSTC, MSTC will send a

written instruction to the transfer agent

followed by a physical surrender of the

shares to the transfer agent. The transfer

agent will reissue the shares in the

requested name and will send the shares

back to MSTC. Using the ATS program,

an electronic instruction will

immediately effectuate the withdrawal

transfer thus eliminating the extra step

of physically surrendering the security

from MSTC to the transfer agent.

For issues eligible for ATS, MSTC

will deliver to participating transfer

agents nominee and/or non-nominee

certificates 3 for each issue. The transfer

agent will cancel the certificates

delivered and issue one or more balance

certificates per issue. The transfer agent

will retain possession of the balance

certificates and hold them in a secured

area at all times.

In its normal course of business,

MSTC will continue to deliver to

participating transfer agents nominee

certificates and/or non-nominee

certificates with the instructions to

register the transfer of the non-nominee

certificates into the account of Kray &

Co. MSTC also will instruct the transfer

agent to include the securities

evidenced by the nominee and/or nonnominee certificates in the balance

certificate for the issue represented by

such balance certificate. MSTC also may

issue instructions to the transfer agent to

register the transfer of all or some of the

securities evidenced by a balance

certificate to a name other than Kray &

Co. or to issue a certificate to a name

other than Kray & Co. The transfer agent

will increase or decrease the number of

securities evidenced by the balance

certificate so that at the end of each day

the balance certificate will evidence the

number of securities equal to the