Federal Register / Vol. 60, No. 76 / Thursday, April 20, 1995 / Notices 19793

an undue risk to the public health and

safety, and are consistent with the

common defense and security; and (2)

present special circumstances. Section

50.12(a)(2)(iv) of 10 CFR Part 50

describes the special circumstances for

an exemption where the exemption

would result in benefit to the public

health and safety that compensates for

any decrease in safety that may result

from the granting of the exemption.

III

By letter dated October 17, 1994, the

licensee requested a schedular

exemption from the requirement of 10

CFR Part 50, Appendix E, Section IV.F.3

that requires biennial exercise of

emergency plans for State and local

governmental authorities within the

plume exposure pathway EPZ. The

licensee has requested to postpone until

1996 the biennial, full-scale emergency

preparedness exercise currently

scheduled in 1995.

This schedular exemption is

requested by the licensee in support of

the State of California’s request to the

Federal Emergency Management Agency

(FEMA) to grant the State a one-year

extension in the current Radiological

Emergency Preparedness Program sixyear exercise cycle for the Diablo

Canyon Nuclear Power Plant (DCPP).

The granting of this request would

result in the licensee conducting its

biennial, full-scale emergency

preparedness exercise in evennumbered years.

By letter dated March 2, 1995, FEMA

informed the NRC that FEMA concurred

with a request by the State of California

to reschedule the DCPP offsite biennial

exercise for 1995 to 1996. FEMA stated

that such a schedule change would have

no implications adverse to public health

and safety. The most recent DCPP offsite

exercise was conducted in 1993, and

there were no issues identified which

required immediate corrective actions.

FEMA has granted a one-time

exemption to the requirements of 44

CFR 350.9(c) for DCPP as requested by

the State of California.

Based on a review of the licensee’s

request for a schedular exemption to

postpone until 1996 the biennial fullscale emergency preparedness exercise

currently scheduled in 1995, the NRC

staff finds that granting this request

would be beneficial to the public health

and safety. Approval of this exemption

would allow the realignment of the

State of California’s exercise

participation schedule to include an

exercise every year, instead of two

exercises every other year. San Onofre

Nuclear Generating Station’s exercise

would be conducted in odd-numbered

years and DCPP’s would be conducted

in even-numbered years starting in

1996. This should enhance the level of

emergency preparedness by allowing

more frequent participation in an

exercise by State personnel. It would

allow for more even distribution of

financial and personnel resources for

both State and Federal agencies. Also,

the offsite agencies at San Onofre

Nuclear Generating Station would be

able to perform as controllers and

evaluators for the DCPP exercise and

vice versa more easily and both plants

would obtain the benefits since the

plant exercise dates would not conflict.

There would be no decrease in the level

of safety of licensee operations as a

result of granting this schedular

exemption. The licensee would still be

required to conduct an annual exercise

in 1995 in accordance with the

requirements of 10 CFR 50, Appendix E,

Section IV.F.2.

IV

Accordingly, the Commission has

determined pursuant to 10 CFR 50.12,

this exemption is authorized by law and

will not endanger life or property or the

common defense and security and is

otherwise in the public interest. The

Commission further determines that

special circumstances described by 10

CFR 50.12(a)(2)(iv) exist in that a benefit

to public health and safety that

compensates for any decrease in safety

may result from granting the exemption.

Therefore, the Commission hereby

grants Pacific Gas and Electric Company

an exemption from the requirements of

10 CFR 50, Appendix E, Section IV.F.3.

Pursuant to 10 CFR 51.32, the

Commission has determined that the

granting of this exemption will have no

significant impact on the quality of the

human environment (60 FR 18429).

This exemption is effective upon

issuance.

Dated at Rockville, Maryland, this 12th day

of April 1995.

For the Nuclear Regulatory Commission.

Elinor G. Adensam,

Acting Director, Division of Reactor Projects

III/IV, Office of Nuclear Reactor Regulation.

[FR Doc. 95–9763 Filed 4–19–95; 8:45 am]

BILLING CODE 7590–01–M

SECURITIES AND EXCHANGE

COMMISSION

Issuer Delisting; Notice of Application

to Withdraw From Listing and

Registration; (Applied Microbiology,

Inc. Common Stock $.005 Par Value)

File No. 1–12106

April 14, 1995.

Applied Microbiology, Inc.

(‘‘Company’’) has filed an application

with the Securities and Exchange

Commission (‘‘Commission’’), pursuant

to Section 12(d) of the Securities

Exchange Act of 1934 (‘‘Act’’) and Rule

12d2–2(d) promulgated thereunder, to

withdraw the above specified security

(‘‘Security’’) from listing and

registration on the Pacific Stock

Exchange, Incorporated. (‘‘PSE’’).

The reasons alleged in the application

for withdrawing the Security from

listing and registration include the

following:

According to the Company, it is listed

on the Nasdaq/NMS, and in view of the

limited trading in the Security, the

Company believes that a single listing is

adequate.

Any interested person may, on or

before May 5, 1995, submit by letter to

the Secretary of the Securities and

Exchange Commission, 450 Fifth Street,

NW., Washington, DC 20549, facts

bearing upon whether the application

has been made in accordance with the

rules of the exchanges and what terms,

if any, should be imposed by the

Commission for the protection of

investors. The Commission, based on

the information submitted to it, will

issue an order granting the application

after the date mentioned above, unless

the Commission determines to order a

hearing on the matter.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 95–9726 Filed 4–19–95; 8:45 am]

BILLING CODE 8010–01–M

[Investment Company Act Release No.

21009; 811–10930]

Columbia Ventures, Inc.

April 14, 1995.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of Application for

Deregistration under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANT: Columbia Ventures, Inc.

RELEVANT ACT SECTION: Sections 3(c)(9)

and 8(f).
19794 Federal Register / Vol. 60, No. 76 / Thursday, April 20, 1995 / Notices

SUMMARY OF APPLICATION: Applicant

requests an order declaring that it has

ceased to be an investment company.

FILING DATE: The application was filed

on December 13, 1994, and amended on

March 30, 1995.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the SEC orders a hearing.

Interested persons may request a

hearing by writing to the SEC’s

Secretary and serving applicant with a

copy of the request, personally or by

mail. Hearing requests should be

received by the SEC by 5:30 p.m. on

May 9, 1995 and should be

accompanied by proof of service on the

applicant, in the form of an affidavit or,

for lawyers, a certificate of service.

Hearing requests should state the nature

of the writer’s interest, the reason for the

request, and the issues contested.

Persons may request notification of a

hearing by writing to the SEC’s

Secretary.

ADDRESSES: Secretary, SEC, 450 5th

Street, NW., Washington, DC 20549.

Applicant, 809 North State Street, suite

215; Jackson, Mississippi 39202.

FOR FURTHER INFORMATION CONTACT:

Sarah A. Buescher, Staff Attorney, at

(202) 942–0573, or Robert A. Robertson,

Branch Chief, at (202) 942–0564

(Division of Investment Management,

Office of Investment Company

Regulation).

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application. The complete application

may be obtained for a fee from the SEC’s

Public Reference Branch.

Applicant’s Representations

1. Applicant, a New York corporation,

registered under the Act on November 8,

1961. Applicant also was licensed as a

small business investment company by

the Small Business Administration

(‘‘SBA’’).

2. In 1973, applicant acquired certain

oil and gas mineral rights and real estate

from a small business company in

exchange for the securities of that

company held by applicant. By

December 31, 1974, those assets

constituted approximately 52 percent of

the fair value of applicant’s assets. At

the 1975 annual meeting, stockholders

adopted amendments to applicant’s

fundamental policies to allow applicant

to concentrate its investment in real

estate and oil and gas mineral rights and

leases.

3. In 1980, Applicant defaulted on a

subordinated debenture payable to the

SBA (‘‘SBA Indebtedness’’) which

resulted in the acceleration of the entire

SBA Indebtedness. Applicant and the

SBA entered into an agreement (‘‘SBA

Agreement’’) which extended the

maturity of the SBA Indebtedness and

replaced an earlier agreement with the

SBA. On December 31, 1986, applicant

defaulted on its principal and accrued

interest payment obligations to the SBA.

Applicant repaid the principal balance

in cash in June 1988 and in September

1989, applicant transferred two tracts of

property to the SBA for settlement of

accrued interest. Applicant relinquished

its license as a small business

investment company to the SBA in

September 1989.

4. At a 1993 special meeting,

applicant’s shareholders approved an

amendment to applicant’s fundamental

policies to state that applicant’s

business shall consist of purchasing,

selling, owning or holding oil, gas, or

other mineral royalties or leases.

Applicant does not anticipate any

substantial income and/or loss in the

future from investment in investment

securities. Income is expected to be

derived from the mineral interests held

by applicant. Applicant now manages

its mineral interests and real property

holdings and proposes to continue in

such business for the foreseeable future.

Applicant’s Legal Analysis

1. Applicant believes that it is no

longer an investment company by virtue

of the exception in section 3(c)(9) of the

Act. Section 3(c)(9) specifically excepts

from the definition of investment

company ‘‘[a]ny person substantially all

of whose business consists of owning or

holding oil, gas, or other mineral

royalties or leases, or fractional interests

therein, or certificates of interest or

participation in or investment contracts

relative to such royalties, leases, or

fractional interests.’’ Section 8(f) of the

Act provides, in pertinent part, that

whenever the SEC, on its own motion or

upon application, finds that a registered

investment company has ceased to be an

investment company it shall so declare

by order, and upon the taking effect of

such order the registration of such

company shall cease to be in effect.

2. Applicant believes it is appropriate

for the SEC to deregister the applicant

because it engages in section 3(c)(9)

activities. Applicant’s fundamental

policy is similar to section 3(c)(9) since

it provides that ‘‘The Company’s

business shall consist of purchasing,

selling, owning or holding oil, gas, or

other mineral royalties or leases, or

fractional interests therein * * *.’’

Applicant owns both the mineral rights

and mineral royalties for certain

properties and, for other properties,

owns the mineral rights only. Its

mineral rights are direct ownership

interests in minerals in the ground, and

it receives income from mineral leases

when it leases the mineral rights and

mineral royalty income when the

minerals are extracted. Applicant

believes that these activities are the type

of business referred to in section 3(c)(9),

i.e., ‘‘owning or holding oil, gas, or other

mineral royalties or leases.’’

3. As of December 31, 1993, 98.9

percent of the fair value of applicant’s

assets (exclusive of cash and land)

consisted of mineral rights and leases.

10.5 percent of the fair value of

applicant’s assets consisted of land not

incident to the mineral rights and

leases. For the fiscal year ended

December 31, 1993, other than interest

income from cash in banks, 99 percent

of applicant’s income was derived from

mineral lease royalties.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–9725 Filed 4–19–95; 8:45 am]

BILLING CODE 8010–01–M

[Rel. No. IC–21010; File No. 812–9226]

Great-West Life & Annuity Insurance

Company, et al.

April 14, 1995.

AGENCY: U.S. Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’).

ACTION: Notice of Application for

Exemption under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANTS: Great-West Life & Annuity

Insurance Company (the ‘‘Company’’),

The Great-West Life Assurance

Company (‘‘GWLAC’’), and Retirement

Plan Series Account (the ‘‘Separate

Account’’).

RELEVANT ACT SECTIONS: Order requested

under Section 6(c) for exemptions from

Sections 26(a)(2)(C) and 27(c)(2) of the

Act.

SUMMARY OF APPLICATION: Applicants

request exemptions from Sections

26(a)(2)(C) and 27(c)(2) of the Act to the

extent necessary to permit the Company

to deduct from the Separate Account the

mortality and expense risk charge

imposed under (1) flexible premium

deferred individual variable annuity

contracts (‘‘Contracts’’) and (2) any other

variable annuity contracts offered by the

Company and made available through

the Separate Account or through any

other similar separate account(s)

established by the Company, whether

currently existing or hereafter created

(‘‘Other Separate Accounts’’), which are

substantially similar in all material