29160 Federal Register / Vol. 61, No. 111 / Friday, June 7, 1996 / Notices

9 17 CFR 200.30–3(a)(12) (1995).

1 15 U.S.C. § 78s(b)(1) (1988).

2Letter from Jean M. Cawley, OCC, to Jerry W.

Carpenter, Assistant Director, Division of Market

Regulation, Commission (March 20, 1996).

3The Commission has modified the text of the

statements prepared by OCC.

4For a complete description of the batch ERD

system and the transition to the on-line ERD

system, refer to Securities Exchange Act Release No.

31595 (December 11, 1992), 57 FR 61139 [SR–OCC–

92–30] (order approving on an accelerated basis a

proposed rule change relating to the conversion of

OCC’s current batch ERD system to an on-line

system).

(C) Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants, or Others

DTC has not solicited comments from

its participants on the proposed rule

change. A number of DTC participants

have requested that DTC develop a

custody service and informally have

committed to using such a service.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within thirty-five days of the date of

publication of this notice in the Federal

Register or within such longer period (i)

as the Commission may designate up to

ninety days of such date if it finds such

longer period to be appropriate and

publishes its reasons for so finding or

(ii) as to which DTC consents, the

Commission will:

(A) by order approve such proposed

rule change or

(B) institute proceedings to determine

whether the proposed rule change

should be disapproved.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statements

with respect to the proposed rule

change that are filed with the

Commission, and all written

communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with the

provisions of 5 U.S.C. § 552, will be

available for inspection and copying in

the Commission’s Public Reference

Room, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of DTC. All submissions should

refer to the file number SR–DTC–96–08

and should be submitted by June 28,

1996.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.9

Jonathan G. Katz,

Secretary.

[FR Doc. 96–14357 Filed 6–6–96; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–37258; File No. SR–OCC–

95–17]

Self-Regulatory Organizations; The

Options Clearing Corporation; Notice

of Filing of a Proposed Rule Change

Modifying the Escrow Deposit Program

May 30, 1996.

Pursuant to Section 19(b)(1) of the

Securities Exchange Act of 1934

(‘‘Act’’),1 notice is hereby given that on

November 2, 1995, The Options

Clearing Corporation (‘‘OCC’’) filed with

the Securities and Exchange

Commission (‘‘Commission’’) the

proposed rule change as described in

Items I, II, and III below, which Items

have been prepared primarily by OCC.

OCC amended the proposed rule change

on March 22, 1996.2 The Commission is

publishing this notice to solicit

comments on the proposed rule change

from interested persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The purpose of the proposed rule

change is to amend OCC’s escrow

deposit program to permit escrow

deposits for stock put contracts and

stock index put contracts and to make

other conforming changes to OCC’s

rules.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission,

OCC included statements concerning

the purpose of and basis for the

proposed rule change and discussed any

comments it received on the proposed

rule change. The text of these statements

may be examined at the places specified

in Item IV below. OCC has prepared

summaries, set forth in sections (A), (B),

and (C) below, of the most significant

aspects of such statements.3

A. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

OCC proposes to modify its escrow

deposit program to (i) permit escrow

deposits for stock put options and stock

index put options; (ii) delete provisions

regarding OCC’s batch system for

processing escrow receipts; (iii) change

provisions regarding the timing of the

release of escrow deposits; and (iv)

delete provisions for bulk deposits for

call options and deposits of Treasury

bills for put options. In addition, OCC

proposes to modify other OCC rules to

conform to this rule change.

Pursuant to OCC rules, clearing

members may deposit with an OCC

approved custodian shares of stock

which may be in the form of escrow

deposits, underlying certain options in

lieu of margin. Escrow deposits are

specific deposits of assets held by OCC

at an approved custodian for the

account of a specific customer.

Presently, OCC’s rules restrict escrow

deposits to short positions in stock calls

and stock index calls. For stock call

options, the underlying security may be

deposited in escrow with an OCCapproved custodian and for stock index

call options, any combination of cash,

short-term government securities, or

marginable equity securities may be

deposited in escrow with an OCCapproved custodian.

Permitting escrow deposits with

respect to stock put contracts and stock

index put contracts had been deferred

until sufficient interest existed and an

acceptable system could be developed

to process escrow deposits for put

options. OCC recently received requests

to expand its escrow program to include

such deposits for stock and stock index

puts. Those requests prompted OCC to

review its escrow program and its

processing systems that support the

escrow program. As a result thereof,

OCC determined to make several

enhancements and modifications to its

escrow program as described below.

First, OCC proposes to expand its

escrow program to permit escrow

deposits for stock put contracts and

stock index put contracts and process

those deposits through its on-line

Escrow Receipt Depository (‘‘ERD’’)

system.4 To accomplish the proposed

expansion of its escrow program, certain

changes to OCC Rules 610 and 1801 are

necessary. In general, the changes will

accommodate the Deposit of any

combination of cash and short-term

government securities for put contracts,

will provide for the valuation and

substitution of deposited assets and, in

the event of the value of the property

declines below a specified amount, will

permit OCC to disregard the escrow
Federal Register / Vol. 61, No. 111 / Friday, June 7, 1996 / Notices 29161

5Provisions for bulk deposits are being deleted as

clearing members have rarely, if ever, made such

deposits with OCC. Provisions for hard copy escrow

receipts are being deleted as are provisions for hard

copy third party pledge depository receipts.

However, a newly proposed Interpretation of OCC

Rule 610 is intended to permit depositories that

currently issue hard copy depository receipts to

OCC and that are ‘‘clearing corporations’’ as defined

in Article 8 of the Uniform Commercial Code to

continue to issue such depository receipts to OCC

until such time as they develop an EDP System.

The current EDP Pledge System is operated by

DTC and allows OCC members who are participants

in DTC’s participant terminal system (‘‘PTS’’) to

electronically pledge to OCC securities on deposit

at DTC. For a complete description of DTC’s EDP

Pledge System refer to Securities Exchange Act

Release No. 22887 (February 18, 1986), 51 FR 5823

[File No. SR–OCC–86–01] (notice of filing and

immediate effectiveness of proposed rule change

permitting OCC clearing members to use EDP

Pledge System to pledge securities to meet margin

and clearing fund obligations).

deposit and require the clearing member

to deposit margin upon notice.

Second, OCC proposes to eliminate its

batch ERD system for processing escrow

receipts. OCC always contemplated that

the on-line ERD system would

eventually replace the batch ERD system

after a reasonable transition period. OCC

believes that clearing members and

custodian banks now have completed

their transition to the on-line system

because the batch ERD system is no

longer used. To eliminate the batch ERD

system, the proposed changes will

eliminate references to escrow receipts

in Rule 610 and 1801, and the batch

processing system described in Rule

613(a).

Third, OCC proposes to modify the

time at which it releases escrow

deposits. OCC currently releases an

escrow deposit on the second business

day following the expiration of the short

position covered by the deposit, and

thereafter if assigned, collects margin for

the position formerly covered by the

deposit until the next business day after

the exercise settlement date. OCC now

proposes to hold an escrow deposit

covering a short position to which an

exercise has been allocated until the

business day after the exercise

settlement date and will no longer

collect margin.

Fourth, OCC proposes to eliminate

bulk deposits of underlying securities

for call options and the deposit of

Treasury bills for put options because

these capabilities have been rarely, if

ever, used by clearing members.

Furthermore, the provisions for

depositing Treasury bills for put options

is being superseded by the new

provisions for put escrow deposits.

Finally, OCC proposes to modify rules

that relate to the suspension and

liquidation of a clearing member to

conform the rules to the changes to

OCC’s escrow deposit program

described above.

Changes to OCC’s Rules

Rule 610

Rule 610 is being amended to permit

deposits of cash and/or short-term

Government securities (with such

securities being valued at the lesser of

par value or 100% of current market

value) with respect to short positions in

put options. The proposal also adds

Section 2 to the Interpretations and

Policies (‘‘Interpretations’’) under Rule

610, which interpretation states that for

purposes of Rule 610 the term shortterm government securities means

securities with a fixed principal amount

that are issued or guaranteed by the U.S.

and that have one year or less to

maturity. As proposed, the total value of

the deposited property at the trade date

(i.e., the date on which the put covered

by the deposit was written) will have to

be not less than 105% of the aggregate

exercise price (i.e., the exercise price

times the number of contracts). This

requirement in conjunction with OCC’s

ability under proposed paragraph (h) to

require margin if the value of the

deposited property falls below 97.5% of

the aggregate exercise price should

provide ample protection against

adverse market moves. Substitution of

deposited property will be permitted

provided that the substituted property is

at least equal to the value of the

property being replaced.

Paragraph (k) is being added to Rule

610 to make explicit OCC’s authority to

receive from the depository if a clearing

member fails to make timely settlement

with respect to an assignment (i) in the

case of call options, the underlying

security or (ii) in the case of put options,

an amount in cash (out of the deposited

property or its proceeds) equal to the

aggregate exercise price plus

commissions and other charges.

Rule 610 also is being amended to

make various other changes, including

changes to make clear that underlying

securities may be deposited only with

respect to short positions in call

options, to eliminate unnecessary

provisions of the rule, and to reletter the

rule to reflect the deletion and addition

of certain paragraphs.5

Rule 1801

The proposed changes to OCC rule

1801 are intended to permit escrow

deposits with respect to short positions

in put index options carried in clearing

members’ customers’ accounts.

Currently, such deposits must relate to

short positions in call index options

carried in customers’ accounts. In

general, the changes to rule 1801

parallel those being made to Rule 610 to

accommodate escrow deposits for put

options.

Under amended rule 1801, only cash

and short-term government securities

will be permitted to be deposited for

index put option contracts. A proposed

Interpretation to Rule 1801 clarifies that

short-term government securities means

securities that have a fixed principal

amount, that are issued or guaranteed by

the U.S., and that have one year or less

to maturity. The total value of the

deposited property at the trade date (i.e.,

the date on which the put covered by

the deposit was written) cannot be less

than the aggregate exercise price per

contract. The 5% cushion above the

aggregate exercise price that OCC

proposes to require for equity put

escrow deposits is unnecessary for

index put escrow deposits because the

settlement amount payable on exercise

of an index put is not the gross exercise

price but rather is the excess of the

exercise price over the closing index

value. An escrow deposit with a value

equal to 100% of the aggregate exercise

price would thus exceed the exercise

settlement amount so long as the

underlying index value remained above

zero. Requiring an escrow deposit with

a value equal to 100% of aggregate

exercise price in conjunction with

OCC’s ability under the proposed

amendment to rule 1801(e) to require

margin if the value of the deposited

property falls below 50% of the

aggregate exercise price per contract

should provide ample protection against

adverse market moves. Substitution of

deposited property will be permitted

provided that the substituted property is

at least equal to the value of the

property being replaced.

New paragraph (i) is being added to

rule 1801 to make explicit OCC’s

authority to receive from the depository

if a clearing member fails to make

timely settlement with respect to an

assignment an amount in cash (out of

the deposited property or its proceeds)

equal to the product of the number of

contracts covered by the assignment (up

to the aggregate number of contracts

covered by the escrow deposit) and the

exercise settlement amount per contract

plus commissions and other charges.

Rule 1801 also is being amended for

various other reasons, including to make

clear that marginable equity securities

may be deposited only with respect to

short positions in index call option

contracts, to eliminate provisions for

hard copy escrow receipts, and to

reletter the rule to reflect the addition of

new paragraph (i).
29162 Federal Register / Vol. 61, No. 111 / Friday, June 7, 1996 / Notices

6The amendments to Rule 1106 contemplate the

prior approval of SR–OCC–95–20. However, if SR–

OCC–95–20 is not approved prior to the current

filing, OCC has provided an alternative version of

the amendments to Rule 1106 to accomplish the

desired changes.

Rule 613

Rule 613 is being amended to change

the time at which an escrow deposit

may be released. OCC’s current practice

is to release all escrow deposits on the

second business day following the

expiration of the short position covered

by the deposit. OCC now proposes to

hold an escrow deposit covering a short

position to which an exercise has been

allocated until the business day after the

exercise settlement date and no longer

will collect margin. Accordingly, a new

provision is being added to Rule 613

that will prohibit the release of an

escrow deposit covering a short position

for which an exercise notice has been

allocated until the first business day

after the exercise settlement date (if the

exercise is settled through a

correspondent clearing corporation) or

after OCC receives confirmation of

settlement (if the exercise was settled

otherwise as directed by OCC).

Rule 613 is being amended further to

replace references to ‘‘ERD banks’’ with

‘‘Escrow banks’’ and to provide for the

obligations of an Escrow bank to deliver

the aggregate exercise price of the puts

covered by an escrow deposit (plus all

applicable commissions and charges)

upon delivery of a duly executed

payment order.

Finally, rule 613 is being amended to

delete the references to the batch ERD

system for processing escrow receipts

and to reletter the rule to reflect the

elimination of those provisions.

Rule 612

Rule 612, which permits the deposit

of Treasury bills with respect to short

positions in put options, is being

deleted because clearing members

rarely, if ever, use this capability. The

alternative of escrow deposits for put

options now will be permitted under the

changes proposed herein.

Rule 1107

Rule 1107 sets forth the method of

settlement of exercised option contracts

to which a suspended clearing member

is a party and is being amended to

reflect the addition of escrow deposits

for puts and the deletion of bulk

deposits and deposits of Treasury bills

for puts. Rule 1107(a)(1) is being

amended to include the method of

settlement where the suspended

clearing member was the assigned

clearing member with respect to any

exercised option contract and where the

exercise notice was allocated by the

suspended clearing member (or is

allocated by OCC pursuant to provisions

of the rule) to a short position for which

a specific deposit or an escrow deposit

has been made.

Rule 1107(a)(2) is being amended to

provide for cases where the custodian of

a specific deposit or escrow deposit

made for the account of a suspended

clearing member fails to perform its

obligations to OCC on a timely basis.

Rule 1107(a)(2) applies where the

customers’ account of a suspended

clearing member contains pending

assignments that are not guaranteed by

a stock clearing corporation but are

covered by specific or escrow deposits.

The rule contemplates that in such a

situation that OCC would do the

following.

1. In the case of an assigned short call

position in stock options, OCC would

obtain delivery of the deposited stock

from the custodian (against payment of

the exercise price in the case of an

escrow deposit) and redeliver the stock

to the exercising clearing member

against payment of the exercise price.

2. In the case of an assigned short put

position in stock options, OCC would

obtain payment of the exercise price

from the custodian (against delivery of

the underlying stock in the case of an

escrow deposit) and pay the exercise

price to the exercising clearing member

against delivery of the underlying stock.

3. In the case of an assigned short

position in index put or calls, OCC

would obtain payment of the exercise

settlement amount from the escrow

bank and pay it to the exercising

clearing member.

However, it is possible that OCC

might experience a delay in obtaining

delivery or payment from a custodian.

Under Rule 1107(a)(2) in its present

form, OCC would be obligated to settle

with the exercising clearing member in

the ordinary course notwithstanding the

custodians’ failure to perform. In order

to do that in the case of a stock option,

OCC would have to either buy the

underlying stock for delivery to the

exercising clearing member (in the case

of a call option) or resell the underlying

stock on receipt from the exercising

clearing member (in the case of a put

option). The proposed amendment

would give OCC the option of directing

the exercising clearing member to buyin (in the case of a call option) or sell

out (in the case of a put option) the

underlying stock. OCC would then settle

with the exercising clearing member on

a net basis pursuant to Rule 1107(a)(6)

for the excess of the buy-in cost over the

exercise price (in the case of a call

option) or the excess of the exercise

price over the sell out price (in the case

of a put option). Settling on a net basis

would relieve OCC of the transaction

costs associated with buying or reselling

the underlying stock.

Conforming Changes to Rules

The proposed rule change also makes

changes to other OCC rules in order to

conform those rules to the amendments

described above. Rules 305, 601, and

602 are being amended to accommodate

escrow deposits for put options and to

reflect the deletion of rule 612.

Rule 908 concerning the delivery of

underlying securities deposited under

rule 610 is being deleted as the

requirements of the rule seem

impractical in the current three business

day settlement environment, especially

when an assigned clearing member may

not learn of an assignment until T+1.

Rules 1104, and 1106 6 and are being

amended to reflect the addition of

escrow deposits for puts and the

deletion of bulk deposits and deposits of

Treasury bills for puts. Subsections (2)

and (3) to rule 1106(b) are being

amended to eliminate references to hard

copy escrow receipts and depository

receipts. Rule 1106(b)(2) is being

amended to make explicit that OCC will

make timely settlement on an exercise

assigned to a covered short position of

a suspended clearing member even if

the depository has not turned over the

deposited property to OCC at the time

of settlement. OCC will be entitled to

reimburse itself for the cost of effecting

such settlement from the deposited

property when such property is remitted

to OCC.

Rules 1301 and 1401 are being

amended to reflect the deletion of the

provisions relating to bulk deposits and

the relettering of rule 610. Rules 1302,

1402, 1502, 1601, 1701, 1808, 1901,

2101, 2301, and 2411 are either being

deleted or amended to reflect the

deletion of rule 612.

OCC believes the proposed rule

change is consistent with Section 17A of

Act in that it promotes the prompt and

accurate clearance and settlement of

securities transactions by enhancing

OCC’s escrow deposit program.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

OCC does not believe the proposed

rule change will impose any burden on

competition.

C. Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants or Others

Written comments were not and are

not intended to be solicited with respect
Federal Register / Vol. 61, No. 111 / Friday, June 7, 1996 / Notices 29163

7 17 CFR 200.30–3(a)(12) (1995).

to the proposed rule change, and none

have been received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Within thirty-five days of the date of

publication of this notice in the Federal

Register or within such longer period (i)

as the Commission may designate up to

ninety days of such date if it finds such

longer period to be appropriate and

publishes its reasons for so finding or

(ii) as to which OCC consents, the

Commission will:

(a) by order approve such proposed

rule change or

(b) institute proceedings to determine

whether the proposed rule change

should be disapproved.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing.

Persons making written submissions

should file six copies thereof with the

Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of the

submission, all subsequent

amendments, all written statement with

respect to the proposed rule change that

are filed with the Commission, and all

written communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with the

provisions of 5 U.S.C. § 552, will be

available for inspection and copying in

the Commission’s Public Reference

Section, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing also will be available for

inspection and copying at the principal

office of OCC. All submissions should

refer to File No. SR–OCC–95–17 and

should be submitted by June 28, 1996.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.7

Jonathan G. Katz,

Secretary.

[FR Doc. 96–14358 Filed 6–6–96; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

Aviation Proceedings; Agreements

Filed During the Week Ending May 31,

1996

The following Agreements were filed

with the Department of Transportation

under the provisions of 49 U.S.C 412

and 414. Answers may be filed within

21 days of date of filing.

Docket Number: OST–96–1407.

Date filed: May 28, 1996.

Parties: Members of the International Air

Transport Association.

Subject:

TC3 Telex Mail Vote 804

Japan-South East Asia fares

r–1–076e r–2–081pp

Intended effective date: July 16, 1996

Docket Number: OST–96–1408

Date filed: May 28, 1996

Parties: Members of the International Air

Transport Association

Subject:

TC3 Telex Mail Vote 803

Korea-China fare specification

Intended effective date: June 3, 1996

Docket Number: OST–96–1409

Date filed: May 28, 1996

Parties: Members of the International Air

Transport Association

Subject:

COMP Telex Mail Vote 805

Fares from Malawi

Intended effective date: July 1, 1996

Docket Number: OST–96–1420

Date filed: May 30, 1996

Parties: Members of the International Air

Transport Association

Subject:

TC23 Telex Mail Vote 806

Europe-Japan/Korea Reso 010r

Intended effective date: July 1, 1996

Paulette V. Twine,

Chief, Documentary Services Division.

[FR Doc. 96–14442 Filed 6–6–96; 8:45 am]

BILLING CODE 4910–62–P

Notice of Applications for Certificates

of Public Convenience and Necessity

and Foreign Air Carrier Permits Filed

Under Subpart Q During the Week

Ending May 31, 1996

The following Applications for

Certificates of Public Convenience and

Necessity and Foreign Air Carrier

Permits were filed under Subpart Q of

the Department of Transportation’s

Procedural Regulations (See 14 CFR

302.1701 et. seq.). The due date for

Answers, Conforming Applications, or

Motions to Modify Scope are set forth

below for each application. Following

the Answer period DOT may process the

application by expedited procedures.

Such procedures may consist of the

adoption of a show-cause order, a

tentative order, or in appropriate cases

a final order without further

proceedings.

Docket Number: OST–96–1423.

Date filed: May 31, 1996.

Due Date for Answers, Conforming

Applications, or Motion to Modify Scope:

June 28, 1996.

Description: Application of Continental

Airlines, Inc., pursuant to 49 U.S.C. Section

41102 and Subpart Q of the Department’s

Rules of Practice, requests renewal of the

authority on Segment 12 of its certificate of

public convenience and necessity for Route

29–F authorizing Continental to provide

scheduled foreign air transportation of

persons, property and mail between New

York (Newark) and Madrid and Barcelona via

the Azores and Lisbon and beyond to points

in Algeria, Tunisia, Egypt, Uganda, Kenya,

Tanzania, Turkey, Jordan, Syria, Bahrain,

Kuwait, Oman, Qatar, Yemen, United Arab

Emirates, Iran, Afghanistan, Pakistan, and

India.

Docket Number: OST–96–1426.

Date filed: May 31, 1996.

Due Date for Answers, Conforming

Applications, or Motion to Modify Scope:

June 28, 1996.

Description: Application of SouthStar

Airlines, Inc., pursuant to 49 U.S.C. Section

41102 and Subpart Q of the Regulations,

requests a certificate of public convenience

and necessity to engage in interstate

scheduled air transportation of persons,

property and mail.

Paulette V. Twine,

Chief, Documentary Services Division.

[FR Doc. 96–14443 Filed 6–6–96; 8:45 am]

BILLING CODE 4910–62–P

Federal Aviation Administration

RTCA, Inc., Special Committee 182,

Minimum Operational Performance

Standards (MOPS) for an Avionics

Computer Resource (ACR)

Pursuant to section 10(a) (2) of the

Federal Advisory Committee Act (P.L.

92–463, 5 U.S.C., Appendix 2), notice is

hereby given for Special Committee 182

meeting to be held July 17–19, 1996,

starting at 9:00 a.m. The meeting will be

held at RTCA, Inc., 1140 Connecticut

Avenue, N.W., Suite 1020, Washington,

DC, 20036.

The agenda will include: (1)

Chairman’s Introductory Remarks; (2)

Review and Approval of Meeting

Agenda; (3) Review and Approval of

Minutes from the Previous Meeting; (4)

Continue to Develop MOPS Draft

Revision 2; (5) Update Glossary; (6)

Working Group Report; (7) Other

Business; (8) Date and Place of Next

Meeting.

Attendance is open to the interested

public but limited to space availability.

With the approval of the chairman,

members of the public may present oral

statements at the meeting. Persons

wishing to present statements or obtain

information should contact the RTCA

Secretariat, 1140 Connecticut Avenue,

N.W., Suite 1020, Washington, D.C.

20036; (202) 833–9339 (phone) or (202)

833–9434 (fax). Members of the public

may present a written statement to the

committee at any time.