3288 Federal Register / Vol. 60, No. 9 / Friday, January 13, 1995 / Notices

exchange; (c) the requested order has

been granted; and (d) the limited

partners have received an opinion of

counsel that: (i) The distribution of

Fund shares from the Partnership to its

limited partners, which will be in

liquidation of the Partnership, will not

cause taxable gain or loss to be

recognized by the limited partners,

which will be in liquidation of the

Partnership, will not cause taxable gain

or loss to be recognized by the limited

partners; (ii) the basis to the limited

partners for the Fund shares will be

equal to the adjusted basis of the limited

partners’ interests in the Partnership;

and (iii) the limited partners’ holding

periods with respect to the Fund shares

will include their holding periods for

their Partnership interests.

9. If the Plan is approved and

consummated, the Partnership, the

Fund, and the Adviser will each pay

their respective costs in connection with

the forming of the Fund and completing

the exchange. No brokerage

commission, fee, or other remuneration

will be paid in connection with the

exchange.

10. After the exchange is

accomplished, the Adviser intends for

the foreseeable future to manage the

assets of the Fund in substantially the

same manner as it did for the

Partnership, except as may be necessary

or desirable to qualify the Fund as a

regulated investment company under

the Internal Revenue Code of 1986, as

amended, to comply with the

investment restrictions adopted by the

Fund in accordance with the

requirements of the Act or securities

laws of states where the Fund shares

will be offered, or in light of changed

market conditions.

Applicants’ Legal Analysis

1. Section 17(a) of the Act generally

prohibits an affiliated person of a

registered investment company from

selling to or purchasing from such

investment company any security or

other property. The Fund and the

Partnership may be deemed to be

affiliated persons of each other because

they are under the common control of

the Adviser. Thus, the proposed

exchange may be prohibited by section

17(a). Section 17(b) authorizes the SEC

to exempt a proposed transaction from

section 17(a) if evidence establishes that

the terms of the transaction, including

the consideration to be paid or received,

are reasonable and fair and do not

involve overreaching on the part of any

person concerned, the transaction is

consistent with the policies of the

registered investment company, and the

transaction is consistent with the

general purposes of the Act.

2. Applicants believe that the

proposed transaction satisfies the

criteria of section 17(b). They contend

that, because the Fund and the

Partnership have similar investment

objectives and policies, the Fund will

attempt to assemble a portfolio of

securities substantially similar to that

held by the Partnership. The Fund will

acquire the Partnership’s portfolio

securities at their independent ‘‘current

market price.’’ In addition, by acquiring

suitable securities from the Partnership,

the Fund will avoid incurring brokerage

and other transactions costs. Applicants

believe that neither the limited partners

nor the Adviser will be in a position to

influence the valuation of the securities

acquired by the Fund. Applicants

believe that the exchange can be viewed

as a change in the form in which the

assets are held, rather than as a

disposition giving rise to section 17(a)

concerns.

For the Commission, by the Division of

Investment Management, under delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–914 Filed 1–12–95; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

[Declaration of Economic Injury Disaster

Loan Area #8423]

Pennsylvania; Declaration of Disaster

Loan Area

Blair County and the contiguous

counties of Bedford, Cambria, Centre,

Clearfield, and Huntingdon in the State

of Pennsylvania constitute an economic

injury disaster area as a result of

damages caused by a fire which

occurred on December 16, 1994 in

Logan Township. Eligible small

businesses without credit available

elsewhere and small agricultural

cooperatives without credit available

elsewhere may file applications for

economic injury assistance until the

close of business on October 10, 1995 at

the address listed below: U.S. Small

Business Administration, Disaster Area

1 Office, 360 Rainbow Blvd. South, 3rd

Floor, Niagara Falls, NY 14303, or other

locally announced locations. The

interest rate for eligible small businesses

and small agricultural cooperatives is 4

percent.

(Catalog of Federal Domestic Assistance

Program No. 59002.)

Dated: January 9, 1995.

Philip Lader,

Administrator.

[FR Doc. 95–891 Filed 1–12–95; 8:45 am]

BILLING CODE 8025–01–M

Hartford District Advisory Council

Meeting; Public Meeting

The U.S. Small Business

Administration Hartford District

Advisory Council will hold a public

meeting at 8:30 a.m. on Monday,

January 23, 1995, at 2 Science Park,

New Haven, Connecticut 06511, to

discuss such matters as may be

presented by members, staff of the U.S.

Small Business Administration, or other

present.

For further information, write or call

Ms. Jo-Ann Van Vechten, District

Director, U.S. Small Business

Administration, 330 Main Street,

Hartford, Connecticut 06106, (203) 240–

4670.

Dated: January 9, 1995.

Dorothy A. Overal,

Director, Office of Advisory Council.

[FR Doc. 95–892 Filed 1–12–95; 8:45 am]

BILLING CODE 8025–01–M

Vermont District Advisory Council

Meeting

The U.S. Small Business

Administration Vermont District

Advisory Council will hold a public

meeting at 2 p.m. on Monday, January

30, 1995, at the Vermont Chamber of

Commerce, Granger Road, Berlin,

Vermont, to discuss such matters as may

be presented by members, staff of the

U.S. Small Business Administration, or

other present.

For further information, write or call

Mr. Kenneth A. Silvia, District Director,

U.S. Small Business Administration,

Federal Building, 87 State Street, P.O.

Box 605, Montpelier, Vermont 05601,

(802) 828–4422.

Dated: January 4, 1995.

Dorothy A. Overal,

Director, Office of Advisory Council.

[FR Doc. 95–840 Filed 1–12–95; 8:45 am]

BILLING CODE 8025–01–M

DEPARTMENT OF TRANSPORTATION

Coast Guard

[CGD 95–003]

Prevention Through People

AGENCY: Coast Guard, DOT.

ACTION: Notice; request for comments.