19096 Federal Register / Vol. 61, No. 84 / Tuesday, April 30, 1996 / Notices

DATE: Weeks of April 29, May 6, 13, and

20, 1996.

PLACE: Commissioners’ Conference

Room, 11555 Rockville Pike, Rockville,

Maryland.

STATUS: Public and Closed.

MATTERS TO BE CONSIDERED:

Week of April 29

Friday, May 3

11:30 a.m.

Affirmation Session (Public Meeting)

a. Final Rulemaking on ‘‘Environmental

Review for Renewal of Nuclear Power

Plant Operating Licenses,’’ 10 CFR Part

51

b. Final Amendment to 10 CFR Part 30

Relating to the Frequency of Emergency

Planning Exercises at Nuclear Power

Plants

(Contact: Andrew Bates, 301–415–1963)

2:00 p.m.

Meeting with ACMUI and Dr. Robert Adler

on Recommendations of NAS Report on

Review of Medical Use Program (Public

Meeting)

(Contact: Larry Camper, 301–415–7231)

Week of May 6—Tentative

Friday, May 10

10:00 a.m.

Briefing on Severe Accident Master

Integration Plan (Public Meeting)

(Contact: Themis Speis, 301–415–6802)

11:30 a.m. Affirmation Session (Public

Meeting) (if needed)

Week of May 13—Tentative

Monday, May 13

2:00 p.m.

Briefing by Commonwealth Edison (Public

Meeting)

Wednesday, May 15

2:00 p.m.

Briefing on Performance Assessment

Program in HLW, LLW, and SDMP

(Public Meeting)

(Contact: Norman Eisenberg, 301–415–

7285)

3:30 p.m.

Affirmation Session (Public Meeting) (if

needed)

Week of May 20—Tentative

Wednesday, May 22

10:00 a.m.

Briefing on Status of NRC Operator

Licensing Initial Examination Pilot

Process (Public meeting)

(Contact: Staurt Richards, 301–415–1031)

11:30 a.m.

Affirmation Session (Public Meeting) (if

needed)

2:00 p.m.

Briefing by International Programs

(Closed—Ex. 1)

Friday, May 24

9:30 a.m.

Meeting with Advisory Committee on

Reactor Safeguards (ACRS) (Public

Meeting)

(Contact: John Larkins, 301–415–7360)

The Schedule for Commission

meetings is subject to change on short

notice. To verify the status of meetings

call (Recording). (301) 415–1292.

CONTACT PERSON FOR MORE INFORMATION:

Bill Hill (301) 415–1661.

This notice is distributed by mail to several

hundred subscribers; if you no longer wish

to receive it, or would like to be added to it,

please contact the Office of the Secretary,

Attn: Operations Branch, Washington, D.C.

20555 (301–415–1963).

In addition, distribution of this meeting

notice over the internet system is available.

If you are interested in receiving this

Commission meeting schedule electronically,

please send an electronic message to

alb@nrc.gov or gkt@nrc.gov.

Dated: April 15, 1996.

Andrew L. Bates,

Senior Level Advisor, Office of the Secretary.

[FR Doc. 96–10738 Filed 4–26–96; 10:45 am]

BILLING CODE 7590–01–M

Materials Licensing Process:

Availability of NUREGs

NRC is using Business Process

Redesign (BPR) techniques to redesign

its material licensing process to achieve

an order of magnitude improvement in

speed, while maintaining or improving

the level of public safety. NUREG–1539,

‘‘Methodology and Findings of the

NRC’s Materials Licensing Process

Redesign,’’ describes the methods used

to acquire and analyze information

about the existing materials licensing

process and the steps necessary to

radically change this process to the

envisioned future process.

Fundamental to the success of the

redesigned licensing process is the

consolidating and updating of an

extensive number of guidance

documents that support the material

licensing process into a single

comprehensive repository called the

materials electronic library (MEL). Draft

NUREG–1541, ‘‘Process and Design for

Consolidating and Updating Materials

Licensing Guidance,’’ describes the MEL

design and is the first of a planned

series of staff reports that NRC will

publish on MEL. These reports are

intended to inform the reader about the

MEL project, provide an ongoing status

report, and request comments on

various aspects of the project. This

project’s end result will be an electronic

library accessible by NRC’s staff and

managers, Agreement and nonAgreement States, licensees, applicants,

and the public at large.

Over the years, the NRC has used a

number of regulatory guides, policy and

procedures, standard review plans, and

other documents to communicate the

NRC’s policy to licensees and to the

NRC staff. Each of these documents was

written to address either a particular use

of material or a particular radiation

safety issue. The net result has been a

multitude of documents, many of which

are now out of date, from which NRC

staff and licensees must derive the

requirements, policies, and materials

needed for licensed activities. The

intent of the MEL is to create a simple

communication vehicle that can keep

up with change.

Draft NUREG–1541 discusses the

conceptual structure of MEL, how it was

created, and seeks comments on MELrelated issues. The MEL’s development

strategy is a prototype of NRC’s new

process for developing ‘‘regulatory

products.’’ During the comment period

on this document, the staff is actively

seeking comments from all readers,

including but not limited to, licensees,

applicants, the public, and Agreement

and non-Agreement States. Comments

will be useful in making needed ‘‘midcourse’’ corrections as early as possible

in the development of MEL. Comments

on this draft report will be most useful

if received within 90 days of its

publication, but comments received

after that time will also be considered if

practicable.

Submit comments on draft NUREG–

1541 to the Chief, Rules Review and

Directives Branch, U. S. Nuclear

Regulatory Commission, Washington,

DC 20555–001.

Copies of NUREG–1539 may be

purchased from the Superintendent of

Documents, U.S. Government Printing

Office, P. O. Box 37082, Washington, DC

20402–9328. Copies are also available

from the National Technical Information

Service, 5285 Port Royal Road,

Springfield, VA 22161.

A free single copy of draft NUREG–

1541 may be requested by those

considering public comment by writing

to the U.S. Nuclear Regulatory

Commission, ATTN: BPR Team, Mail

Stop TWFN 8F5, Washington, DC

20555–0001.

Copies of NUREG–1539 and draft

NUREG–1541 are also available for

inspection and/or copying for a fee in

the NRC Public Document Room, 2120

L Street, NW. (Lower Level),

Washington, DC 20555–001.

Dated at Rockville, Maryland, this 24th day

of April, 1996.
Federal Register / Vol. 61, No. 84 / Tuesday, April 30, 1996 / Notices 19097

1Concurrently with these acquisitions, Medallion

will merge with Tri-Magna and operate Tri-Magna’s

two subsidiaries, MFC, an SSBIC, and Medallion

Taxi Media, Inc. (‘‘Media’’), a corporation providing

taxicab rooftop advertising, as its own subsidiaries.

In 1988, the SEC issued an order to MFC permitting

it to create a holding company structure, with MFC

as a wholly-owned subsidiary of such holding

company, and permitting the holding company and

its subsidiaries to engage in certain joint

transactions and other activities otherwise

prohibited under the Act. Medallion Financial

Corporation, Investment Company Act Release Nos.

16253 (Feb. 4, 1988) (notice) and 16296 (Mar. 1,

1988) (order).

For the Nuclear Regulatory Commission.

Donald A. Cool,

Director, Division of Industrial and Medical

Nuclear Safety, Office of Nuclear Material

Safety and Safeguards.

[FR Doc. 96–10619 Filed 4–29–96; 8:45 am]

BILLING CODE 7590–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–21915; 812–9744]

Medallion Financial Corp., et al.; Notice

of Application

April 24, 1996.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of Application for

Exemption under the Investment

Company Act of 1940 (the ‘‘Act’’).

APPLICANTS: Medallion Financial Corp.

(‘‘Medallion’’), Tri-Magna Corporation

(‘‘Tri-Magna’’), Medallion Funding

Corp. (‘‘MFC’’), Alvin Murstein, and

Andrew Murstein.

RELEVANT ACT SECTIONS: Order requested

under section 6(c) of the Act for an

exemption from sections 12(d), 18(a),

and 61(a) of the Act, under sections

17(d) and 57(a)(4) of the Act and rule

17d–1 thereunder permitting certain

joint transactions, under section 17(b) of

the Act for an exemption from section

17(a) of the Act, and under section 57(c)

of the Act for an exemption from

sections 57(a) (1), (2), and (3) of the Act.

SUMMARY OF APPLICATION: Applicants

request an order to permit Medallion to

acquire all the outstanding stock of TriMagna Corporation through a merger

and to acquire certain other companies.

In addition, the order would permit

Medallion to engage in certain joint

transactions with its subsidiaries and

would permit modified asset coverage

requirements for Medallion and its

subsidiaries on a consolidated basis.

FILING DATE: The application was filed

on September 1, 1995 and amended on

January 16, 1996. Applicants have

agreed to file an additional amendment,

the substance of which is incorporated

herein, during the notice period.

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 applicants 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 20, 1996, and should be

accompanied by proof of service on

applicants, 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.

Applicants, Suite 2000, 205 East 42d

Street, New York, NY 10017.

FOR FURTHER INFORMATION CONTACT:

James M. Curtis, Senior Counsel, at

(202) 942–0563, 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 at the SEC’s

Public Reference Branch.

Applicants’ Representations

1. Medallion is a closed-end

investment company. It was organized

for the purpose of acquiring: Tri-Magna,

another closed-end investment

company; Edwards Capital Company,

L.P. (‘‘ECC’’), a privately-held limited

partnership licensed as a Small

Business Investment Company (an

‘‘SBIC’’) by the Small Business

Administration (the ‘‘SBA’’); and

Transportation Capital Corp. (‘‘TCC’’), a

Specialized Small Business Investment

Company (an ‘‘SSBIC’’) licensed by the

SBA.1 Tri-Magna, ECC, and TCC are

referred to as the ‘‘Acquired

Companies.’’ Medallion plans to file an

election under section 54 of the Act to

be regulated as a business development

company (a ‘‘BDC’’) and,

contemporaneous with the acquisition

of TCC and ECC, will register each

company under the Act as a closed-end

investment company. Upon completion

of these transactions, Medallion will

engage directly and/or through its

principal subsidiaries (the

‘‘Subsidiaries’’) primarily in the

business of making loans to small

businesses and, to a lesser degree, in the

business of taxicab rooftop advertising.

2. Medallion proposes to acquire all

the outstanding shares of Tri-Magna

through a merger of Tri-Magna into

Medallion (the ‘‘Merger’’) for $20.00 per

share in cash plus an additional

dividend of $.50 per share plus the

accumulated earnings, if any, of Media

to be paid immediately prior to the

Merger and to acquire the remaining

Acquired Companies for cash or

Medallion stock or some combination

thereof. Acquisitions for cash will be

financed from the proceeds of the initial

public offering of Medallion stock (the

‘‘IPO’’). The acquisitions will be closed

contemporaneously with the IPO.

3. At a meeting held on October 18,

1995, the full board of directors of TriMagna voted unanimously to accept the

recommendation of a committee of its

independent directors (the

‘‘Independent Committee’’) to pursue

the Merger, determining that the Merger

is in the best interests of and is fair to

the stockholders of Tri-Magna. The

board of directors also unanimously

recommended that the stockholders of

Tri-Magna approve the Merger. On

December 21, 1995, the Merger

Agreement was executed and delivered

by Tri-Magna and Medallion.

4. The consummation of the Merger is

subject to certain conditions, including

(a) approval of the Merger Agreement by

the holders of at least a majority of the

outstanding shares of Tri-Magna stock,

(b) approval by all governmental

agencies and other third parties from

whom such approval is required,

including the SEC and the SBA, (c)

receipt by Tri-Magna of an opinion from

Gruntal & Co., Incorporated (‘‘Gruntal’’),

an investment banking firm engaged by

the Independent Committee, opining as

to the fairness from a financial point of

view of the terms of the Merger to the

stockholders of Tri-Magna, (d) the

successful negotiation and closing of the

acquisitions of the other Acquired

Companies, and (e) the closing of the

IPO.

5. Alvin Murstein and Andrew

Murstein will serve as chief executive

officer and as president, respectively, of

Medallion following the Merger. Each of

Alvin Murstein and Andrew Murstein

currently holds 100 shares of

Medallion’s common stock through a

trust. In addition, Alvin Murstein will

make a capital contribution of

approximately $1,000,000 to Medallion

in exchange for shares of Medallion

stock valued at the public offering price

of Medallion shares sold in the IPO.

6. Myron Cohen, Robert Fanger, and

Michael Miller (the ‘‘Affiliated

Advisers’’) will form and register an