18308 Federal Register / Vol. 61, No. 81 / Thursday, April 25, 1996 / Proposed Rules

List of Subjects in 17 CFR Part 240

Brokers, Confidential business

information, Fraud, Reporting and

recordkeeping requirements, Securities.

Text of the Proposed Amendment

For the reasons set out in the

preamble, the Commission is proposing

to amend Title 17, Chapter II of the

Code of Federal Regulations as follows:

PART 240—GENERAL RULES AND

REGULATIONS, SECURITIES

EXCHANGE ACT OF 1934

1. The authority citation for part 240

continues to read, in part, as follows:

Authority: 15 U.S.C. 77c, 77d, 77g, 77j,

77s, 77eee, 77ggg, 77nnn, 77sss, 77ttt, 78c,

78d, 78i, 78j, 78l, 78m, 78n, 78o, 78p, 78q,

78s, 78w, 78x, 78ll(d), 79q, 79t, 80a–20, 80a–

23, 80a–29, 80a–37, 80b–3, 80b–4 and 80b–

11, unless otherwise noted.

* * * * *

§ 240.13e–4 [Amended]

2. Section 240.13e–4 is amended by

removing the phrase ‘‘as of a specified

date prior to the announcement of the

offer’’ from the introductory text of

paragraph (h)(5).

Dated: April 19, 1996.

By the Commission.

Jonathan G. Katz,

Secretary.

Note: This Appendix A to the Preamble

will not appear in the Code of Federal

Regulations.

Appendix A

Regulatory Flexibility Act Certification

I, Arthur Levitt, Chairman of the Securities

and Exchange Commission, hereby certify

pursuant to 5 U.S.C. 605(b) that the proposed

amendment to Rule 13e–4 set forth in

Securities Exchange Act Release No. 37132,

if promulgated, will not have a significant

economic impact on a substantial number of

small entities. Specifically, issuers making a

tender offer to holders of odd-lots will be

excepted from the record date requirements

of the rule, and will no longer be required to

distinguish between their odd-lot holders on

the basis of the dates upon which those

security holders acquired their odd-lot

holdings. Accordingly, issuers will be

relieved of the need to request an exemption

from the provisions of the rule to conduct

periodic, continuous, or extended odd-lot

offers. Although the proposed amendment to

Rule 13e–4 is expected to have favorable

effects on issuers and small investors, the

size of these effects will not have a

significant economic impact on a substantial

number of small entities.

Dated: April 19, 1996.

Arthur Levitt,

Chairman.

[FR Doc. 96–10243 Filed 4–24–96; 8:45 am]

BILLING CODE 8010–01–P

DEPARTMENT OF LABOR

Mine Safety and Health Administration

30 CFR Parts 70 and 71

RIN: 1219–AA81

Response to National Institute for

Occupational Safety and Health

(NIOSH) Criteria Document

AGENCY: Mine Safety and Health

Administration, Labor.

ACTION: Response to NIOSH criteria

document.

SUMMARY: On November 7, 1995, the

Mine Safety and Health Administration

(MSHA) received a criteria document

from the National Institute for

Occupational Safety and Health

(NIOSH) entitled Criteria for a

Recommended Standard: Occupational

Exposure to Respirable Coal Mine Dust

(Criteria Document), which contains a

number of recommendations for

reducing occupational health risks

associated with exposures to respirable

coal mine dust and crystalline silica.

The Federal Mine Safety and Health Act

of 1977 (Mine Act) requires MSHA to

issue a public response to such criteria

documents.

MSHA has determined that it will

respond to the Criteria Document by

developing a proposed rule to enhance

protection for miners from exposure to

respirable coal mine dust and

crystalline silica. Although MSHA will

begin preliminary work on a proposed

rule, the Agency will defer full

development of the rule until it can

consider the broad range of

recommendations expected to be issued

in the fall by the Secretary’s Advisory

Committee to Eliminate

Pneumoconiosis among Coal Mine

Workers.

FOR FURTHER INFORMATION CONTACT:

Patricia W. Silvey, Director, Office of

Standards, Regulations, and Variances,

MSHA, 4015 Wilson Boulevard, Room

631, Arlington, Virginia 22203, 703–

235–1910.

SUPPLEMENTARY INFORMATION:

I. Rulemaking History

The Federal Mine Safety and Health

Act of 1977, 30 U.S.C. 801 et seq., (Mine

Act) authorizes the National Institute for

Occupational Safety and Health

(NIOSH) of the U.S. Department of

Health and Human Services to

recommend that the Secretary of Labor

promulgate specific occupational safety

and health standards to achieve the

objectives of the Mine Act. By means of

criteria documents, NIOSH notifies

MSHA of its recommendations for

health and safety standards. When the

Secretary of Labor receives any such

recommendations from NIOSH, Section

101(a)(1) of the Mine Act requires him

to take one of three actions within 60

days: (1) refer such recommendations to

an advisory committee; (2) publish such

recommendations as a proposed rule; or

(3) publish in the Federal Register his

determination not to do so and his

reasons therefor.

On November 7, 1995, NIOSH

submitted to MSHA a Criteria Document

addressing the occupational health risks

associated with exposure to respirable

coal mine dust and crystalline silica.

The criteria document contained a

number of recommendations, including

that MSHA reduce its permissible

exposure limit for respirable coal mine

dust and establish a separate standard

for crystalline silica.

Although the statutory deadline for

MSHA’s response fell on January 7,

1996, the funding lapse for the U.S.

Department of Labor and the resulting

shutdown prevented timely action on

this matter. On January 10, 1996, MSHA

informed the public by notice in the

Federal Register (61 FR 731) that it

would respond to the Criteria Document

as quickly as possible after the

resumption of normal agency

operations.

II. Agency Determination

MSHA has determined that it will

respond to the NIOSH Criteria

Document through the publication of a

proposed rule derived from the

recommendations in the Document. The

proposed rule will address enhanced

protections for surface and underground

coal miners from exposure to respirable

coal mine dust and crystalline silica.

Although MSHA will begin the

background work necessary to develop

such a rule, the Agency will delay full

development of the proposed rule until

it has received and considered the

recommendations of the Advisory

Committee to Eliminate

Pneumoconiosis among Coal Mine

Workers, which is currently addressing

a number of issues that are the subject

of recommendations in the Criteria

Document. The Advisory Committee

was established by the Secretary of

Labor on January 31, 1995, and was

charged with making recommendations

for improved standards and other

appropriate action in a number of areas,

including permissible exposure limits to

eliminate black lung disease and

silicosis; the means to control respirable

coal mine dust levels; improved

monitoring of respirable coal mine dust

levels and the role of the miner in that

monitoring; and the adequacy of the
Federal Register / Vol. 61, No. 81 / Thursday, April 25, 1996 / Proposed Rules 18309

operator’s current sampling program to

determine the actual levels of dust

concentrations to which miners are

exposed.

The Advisory Committee is chartered

through September 30, 1996 (60 FR

55284). MSHA will defer full

development of the proposed rule until

it has received and thoroughly

considered the Advisory Committee

recommendations.

Dated: April 17, 1996.

J. Davitt McAteer,

Assistant Secretary for Mine Safety and

Health.

[FR Doc. 96–10245 Filed 4–24–96; 8:45 am]

BILLING CODE 4510–43–P

DEPARTMENT OF THE INTERIOR

Minerals Management Service

30 CFR Part 250

RIN 1010–AC07

Flexibility in Keeping Leases in Force

Beyond Their Primary Term

AGENCY: Minerals Management Service

(MMS), Interior.

ACTION: Proposed rule.

SUMMARY: MMS proposes to amend

regulations that specify how Outer

Continental Shelf (OCS) lessees can

continue their leases beyond their

primary term. Changes in industry

exploration practices have increased the

time necessary to collect and analyze

data associated with drilling operations.

The proposed changes would increase

from 90 to 180 days the time allowed

between operations for a lease

continued beyond its primary term.

DATES: MMS will consider all comments

we receive by June 24, 1996. We will

begin reviewing comments at that time

and may not fully consider comments

we receive after June 24, 1996.

ADDRESSES: Mail or hand-carry

comments to the Department of the

Interior; Minerals Management Service;

Mail Stop 4700; 381 Elden Street;

Herndon, Virginia 22070–4817;

Attention: Chief, Engineering and

Standards Branch.

FOR FURTHER INFORMATION CONTACT:

Lawrence H. Ake or John Mirabella,

Engineering and Standards Branch,

telephone (703) 787–1600.

Author: The principal author of this

rule is Lawrence H. Ake, Engineering

and Standards Branch, MMS, Herndon,

Virginia.

SUPPLEMENTARY INFORMATION:

I. Background

On March 1, 1994, the Department of

the Interior (DOI) published a notice in

the Federal Register (59 FR 9718–9719),

requesting comments and suggestions

on DOI agency regulations. In its notice,

DOI announced its intention to

periodically review its regulations and

asked the public to participate in the

review. Over 40 responses were

received concerning MMS regulations

from the public, industry, and

Government.

Several comments suggested that

MMS make changes to Subpart A of 30

CFR Part 250. These comments

suggested allowing 180 days between

drilling, well-reworking, or other

operations in order to keep a lease in

effect beyond its primary term.

MMS held a public meeting in New

Orleans on June 12, 1995, to discuss this

and other issues. Based on the

comments heard at that meeting, as well

as those previously received, this notice

of proposed rulemaking has been

prepared for public comment.

II. Discussion of the Proposed Rule

Under current statute (43 U.S.C.

1337(b)(2)) and MMS regulations (30

CFR 250.13 and 256.37(b)), if no

production, drilling, or well-reworking

activities occur on the lease during the

last 90 days prior to lease expiration and

no suspension of operations or

production is in effect on the lease, the

lease expires by operation of law and

lease terms.

Current § 250.13 gives lessees several

methods to keep leases in effect beyond

their primary term. The most common

method is through production of

resources and payment of a royalty.

Continuous drilling or well-reworking

activities without a break of more than

90 days will also keep a lease in effect

beyond its primary term. Other methods

for extending a lease include receiving

a suspension of production (30 CFR

250.10); a suspension of operations (30

CFR 250.10); or participation in a unit

which has another lease that is being

held beyond its primary term by one of

these operations (30 CFR 250.190 (e)

and (f)).

Commentors told MMS that although

many OCS operations can be ended and

recommenced within the present 90-day

time allowance, many require

considerably more time. The search for

oil and gas resources in the OCS has

reached a mature phase. Most of the

easily found resources have been

produced. Industry is now focusing its

efforts in deeper waters, subsalt

projects, and other areas of extremely

complex geology. The proposed changes

will allow more time for efficient and

expedient production, drilling, and

well-reworking operations.

With this rulemaking MMS proposes

to increase from 90 to 180 days the time

allowed between production, drilling, or

well-reworking operations for leases

continued beyond their primary term.

For example, under the current rule if

a lessee ceases production, drilling or

well-reworking operations on a lease 60

days before the lease expiration date, he

must resume operations within 90 days

(i.e., within 30 days after the original

lease expiration date). Under this

proposed rule, the lessee would have

180 days (i.e., 120 days after the original

lease expiration date) within which to

resume operations.

Leases that have been continued past

their primary term, will remain in force

as long as the break in operations is no

longer than 180 days. This contrasts

with 90 days provided by the current

rule.

The proposed changes will allow

MMS regulations to more accurately

reflect the realities of exploration and

production of minerals on the OCS. The

proposed changes will also allow the

Regional Supervisor to give more

flexibility to lessees who are diligently

exploring their leases.

Executive Order (E.O.) 12866

This is a significant rule under E.O.

12866 and has been reviewed by the

Office of Management and Budget.

Regulatory Flexibility Act

The DOI determined that this

proposed rule will not have a significant

effect on a substantial number of small

entities. Most entities that engage in

offshore activities as operators are not

small because of the technical and

financial resources and experience

needed to conduct offshore activities.

Small entities are more likely to operate

onshore or in State Waters—areas not

covered by the proposed regulation.

When small entities work in the OCS,

they are more likely to be contractors

rather than operators. For example, a

company that collects geologic and

geophysical data might be a small

entity. While these contractors must

follow the rules governing OCS

operations, we are not changing the

rules that govern the actual operations

on a lease. We are only proposing to

modify the rules governing the extent of

a lease beyond the primary term. The

rule could have a secondary affect. By

extending the time available to the

lessee, more leases may be active and

this could result in an increase in