Federal Register / Vol. 61, No. 105 / Thursday, May 30, 1996 / Notices 27109

rescheduling would result in major

inconvenience.

Further information regarding topics

to be discussed, whether the meeting

has been cancelled or rescheduled, the

Chairman’s ruling on requests for the

opportunity to present oral statements

and the time allotted therefor can be

obtained by contacting Mr. Richard K.

Major, Chief, Nuclear Waste Branch

(telephone 301/415–7366), between 8:00

A.M. and 5:00 P.M. EDT.

ACNW meeting notices, meeting

transcripts, and letter reports are now

available on FedWorld from the ‘‘NRC

MAIN MENU.’’ Direct Dial Access

number to FedWorld is (800) 303–9672;

the local direct dial number is 703–321–

3339.

Dated: May 23, 1996.

Andrew L. Bates,

Advisory Committee Management Officer.

[FR Doc. 96–13513 Filed 5–29–96; 8:45 am]

BILLING CODE 7590–01–P

Advisory Committee on Reactor

Safeguards; Subcommittee Meeting on

Planning and Procedures; Notice of

Meeting

The ACRS Subcommittee on Planning

and Procedures will hold a meeting on

June 11, 1996, Room T–2B1, 11545

Rockville Pike, Rockville, Maryland.

The entire meeting will be open to

public attendance, with the exception of

a portion that may be closed pursuant

to 5 U.S.C. 552b(c) (2) and (6) to discuss

organizational and personnel matters

that relate solely to internal personnel

rules and practices of ACRS, and

matters the release of which would

constitute a clearly unwarranted

invasion of personal privacy.

The agenda for the subject meeting

shall be as follows:

Tuesday, June 11, 1996—1:30 p.m. until 3:30

p.m.

The Subcommittee will discuss

proposed ACRS activities and related

matters. It may also discuss the status of

appointment of members to the ACRS.

The purpose of this meeting is to gather

information, analyze relevant issues and

facts, and to formulate proposed

positions and actions, as appropriate,

for deliberation by the full Committee.

Oral statements may be presented by

members of the public with the

concurrence of the Subcommittee

Chairman; written statements will be

accepted and made available to the

Committee. Electronic recordings will

be permitted only during those portions

of the meeting that are open to the

public, and questions may be asked only

by members of the Subcommittee, its

consultants, and staff. Persons desiring

to make oral statements should notify

the cognizant ACRS staff person named

below five days prior to the meeting, if

possible, so that appropriate

arrangements can be made.

Further information regarding topics

to be discussed, the scheduling of

sessions open to the public, whether the

meeting has been cancelled or

rescheduled, the Chairman’s ruling on

requests for the opportunity to present

oral statements, and the time allotted

therefor can be obtained by contacting

the cognizant ACRS staff person, Dr.

John T. Larkins (telephone: 301/415–

7360) between 7:30 a.m. and 4:15 p.m.

(EDT). Persons planning to attend this

meeting are urged to contact the above

named individual one or two working

days prior to the meeting to be advised

of any changes in schedule, etc., that

may have occurred.

Dated: May 23, 1996

Sam Duraiswamy,

Chief, Nuclear Reactors Branch.

[FR Doc. 96–13511 Filed 5–29–96; 8:45 am]

BILLING CODE 7590–01–P

OFFICE OF MANAGEMENT AND

BUDGET

Information Collection Activity Under

OMB Review

AGENCY: Office of Management and

Budget.

ACTION: Notice.

SUMMARY: In accordance with the

Paperwork Reduction Act of 1980, as

amended (44 U.S.C. 3501 et seq.), this

notice requests further comment on the

following proposed information

collection contained in the revision to

Office of Management and Budget

(OMB) Circular A–21, ‘‘Cost Principles

for Educational Institutions,’’ published

in the Federal Register on May 8, 1996

(61 FR 20880).

The information collection request

involves a submission of the Cost

Accounting Standards Board’s (CASB)

Disclosure Statement (DS–2) by

educational institutions receiving more

than $25 million in Federal sponsored

agreements. Circular A–21’s information

collection requirement covers

approximately 20 additional

educational institutions than those

subject to CASB’s regulatory

requirement for filing the DS–2,

pursuant to Public Law 100–679, which

was previously approved and assigned

OMB control number 0348–0055 (which

expires August 31, 1997).

OMB estimates that the preparation of

the DS–2 will take 120 hours to

complete.

FOR FURTHER INFORMATION CONTACT: For

further information or a copy of the

revision, contact Gilbert Tran, Office of

Federal Financial Management, OMB

(telephone: 202–395–3993).

ADDRESSES: Written comments should

be sent by July 29, 1996 to: Gilbert Tran,

Office of Federal Financial

Management, OMB, Room 6025, New

Executive Office Building, Washington,

DC 20503.

John B. Arthur,

Associate Director for Administration.

[FR Doc. 96–13533 Filed 5–29–96; 8:45 am]

BILLING CODE 3110–01–P

SECURITIES AND EXCHANGE

COMMISSION

Submission for OMB Review;

Comment Request

Upon written request, copies available

from: Securities and Exchange Commission,

Office of Filings and Information Services,

Washington, DC 20549.

Extension:

Rule 11Ab2–1 and Form SIP; SEC File No.

270–23; OMB Control No. 3235–0043.

Notice is hereby given that pursuant

to the Paperwork Reduction Act of 1995

(44 U.S.C. §§ 3501 et seq.), the

Securities and Exchange Commission

(‘‘Commission’’) has submitted to the

Office of Management and Budget

requests for approval of extension on

the following rule and form: Rule

11Ab2–1 and Form SIP.

Rule 11Ab2–1 and Form SIP establish

the procedures by which a Securities

Information Processor (‘‘SIP’’) files and

amends its SIP registration form. The

information filed with the Commission

pursuant to Rule 11Ab2–1 and Form SIP

is designed to provide the Commission

with the information necessary to make

the required findings under the Act

before granting the SIP’s application for

registration. In addition, the

requirement that a SIP file an

amendment to correct any inaccurate

information is designed to assure that

the Commission has current, accurate

information with respect to the SIP.

This information is also made available

to members of the public.

Only exclusive SIPs are required to

register with the Commission. An

exclusive SIP is a SIP which engages on

an exclusive basis on behalf of any

national securities exchange or

registered securities association, or any

national securities exchange or
27110 Federal Register / Vol. 61, No. 105 / Thursday, May 30, 1996 / Notices

registered securities association which

engages on an exclusive basis on its own

behalf, in collecting, processing, or

preparing for distribution or

publication, any information with

respect to (i) transactions or quotations

on or effected or made by means of any

facility of such exchange or (ii)

quotations distributed or published by

means of any electronic quotation

system operated by such association.

The federal securities laws require that

before the Commission may approve the

registration of an exclusive SIP, it must

make certain mandatory findings. It

takes a SIP applicant approximately 400

hours to prepare documents which

include sufficient information to enable

the Commission to make those findings.

Currently, there are only two exclusive

SIPs registered with the Commission;

The Securities Information Automation

Corporation (‘‘SIAC’’) and the National

Association of Securities Dealers, Inc.

(‘‘NASD’’). SIAC and the NASD are

required to keep the information on file

with the Commission current, which

entails filing a form SIP annually to

update information.

General comments regarding the

estimated burden hours should be

directed to the Desk Officer for the

Securities and Exchange Commission at

the address below. Any comments

concerning the accuracy of the

estimated average burden hours for

compliance with Commission rules and

forms should be directed to Michael E.

Bartell, Associate Executive Director,

Office of Information Technology,

Securities and Exchange Commission,

450 Fifth Street, N.W., Washington, D.C.

20549 and Desk Officer for the

Securities and Exchange Commission,

Office of Information and Regulatory

Affairs, Office of Management and

Budget, Room 3208, New Executive

Office Building, Washington, D.C.

20503.

Dated: May 22, 1996.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 96–13458 Filed 5–29–96; 8:45 am]

BILLING CODE 8010–01–M

[Rel. No. IC–21981; No. 812–9848]

Aetna Life Insurance and Annuity

Company, et al.

May 23, 1996.

AGENCY: Securities and Exchange

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

ACTION: Notice of Application for an

Order under the Investment Company

Act of 1940 (‘‘1940 Act’’).

APPLICANTS: Aetna Life Insurance and

Annuity Company (‘‘Aetna’’) and

Variable Life Account B of Aetna Life

Insurance and Annuity Company

(‘‘Separate Account’’).

RELEVANT 1940 ACT SECTIONS: Order

requested under Section 6(c) granting

exemptions from Section 27(c)(2) of the

1940 Act and Rule 6e–3(T)(c)(4)(v)

thereunder.

SUMMARY OF APPLICATION: Applicants

request an order that will permit the

Separate Account, any future separate

accounts established by Aetna (‘‘Future

Accounts’’), and all other persons, other

than Aetna, that may, in the future serve

as a principal underwriter (‘‘Future

Broker-Dealers’’) of certain flexible

premium variable life insurance policies

issued by Aetna, to deduct from

premium payments an amount that is

reasonably related to the Aetna’s

increased federal tax burden resulting

from the receipt of those premium

payments, pursuant to Section 848 of

the Internal Revenue Code of 1986, as

amended (‘‘Code’’).

FILING DATE: The application was filed

on November 15, 1995 and was

amended on May 17, 1996.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the Commission orders a

hearing. Interested persons may request

a hearing by writing to the

Commission’s Secretary and serving

Applicants with a copy of the request,

personally or by mail. Hearing requests

should be received by the Commission

by 5:30 p.m. on June 18, 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 requestor’s interest, the

reason for the request, and the issues

contested. Persons may request

notification of a hearing by writing to

the Secretary of the Commission.

ADDRESSES: Secretary, Securities and

Exchange Commission, 450 5th Street,

N.W., Washington, D.C. 20549.

Applicants: Susan E. Bryant, Esq., Aetna

Life Insurance and Annuity Company,

151 Farmington Avenue, Hartford,

Connecticut 06156.

FOR FURTHER INFORMATION CONTACT:

Pamela K. Ellis, Senior Counsel, or

Wendy Finck Friedlander, Deputy

Chief, Office of Insurance Products

(Division of Investment Management), at

(202) 942–0670.

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application; the complete application is

available for a fee from the

Commission’s Public Reference Branch.

Applicants’ Representations

1. Aetna is a stock life insurance

company, organized in Connecticut, and

is a wholly owned subsidiary of Aetna

Life and Casualty Company.

2. The Separate Account is a separate

account established by Aetna and

registered under the 1940 Act as a unit

investment trust. Currently, the Separate

Account has 17 subaccounts each of

which invests in a corresponding

investment portfolio of an open-end

management investment company

registered under the 1940 Act. The

Separate Account funds flexible

premium variable life insurance policies

issued by Aetna (‘‘Current Policies’’) for

which a registration statement has been

filed with the Commission to register

interests in the Current Policies under

the Securities Act of 1933, and flexible

premium variable life insurance policies

developed by Aetna in the future

(‘‘Future Policies’’) (Current Policies,

together with Future Policies,

‘‘Policies’’). Aetna anticipates that any

Future Accounts established to fund

Current Policies or Future Policies

would be registered under the 1940 Act

as unit investment trusts.

3. Aetna is the principal underwriter

and distributor for the Policies. Aetna is

a registered broker-dealer under the

Securities Exchange Act of 1934 (‘‘1934

Act’’), and is a member of the National

Association of Securities Dealers, Inc.

(‘‘NASD’’). Any Future Broker-Dealer

will be registered as a broker-dealer

under the 1934 Act, and will be a

member of the NASD.

4. Applicants propose to deduct from

premium payments received under the

Policies a 1.25% charge to reimburse

Aetna for the increase in its federal

income taxes resulting from Section 848

of the Code. The charge will be

reasonably related to Aetna’s increased

federal tax burden.

5. The Omnibus Budget

Reconciliation Act of 1990 (‘‘OBRA

1990’’), amending Section 848 of the

Code, requires life insurance companies

to capitalize and amortize over ten years

certain general expenses for the current

year. Prior law allowed these expenses

to be deducted in full from the current

year’s gross income. Section 848, as

amended, effectively accelerates the

realization of income from specified

contracts and, consequently, the

payment of taxes on that income. Taking

into account the time value of money,

Section 848 increases the insurance

company’s tax burden because the

amount of general deductions that must

be capitalized and amortized is

measured by the premiums received

under the policies.