10322 Federal Register / Vol. 66, No. 31 / Wednesday, February 14, 2001 / Notices

company’s compliance with state and

local laws, and a review of the

company’s background and history.

Therefore, pursuant to 21 U.S.C. 823

and 28 CFR 0.100 and 0.104, the Deputy

Assistant Administrator, Office of

Diversion Control, hereby orders that

the application submitted by the above

firm for registration as a bulk

manufacturer of the basic classes of

controlled substances listed above is

granted.

Dated: January 25, 2001.

Laura M. Nagel,

Deputy Assistant Administrator, Office of

Diversion Control, Drug Enforcement

Administration.

[FR Doc. 01–3750 Filed 2–13–01; 8:45 am]

BILLING CODE 4410–09–M

DEPARTMENT OF JUSTICE

Drug Enforcement Administration

Importer of Controlled Substances;

Notice of Registration

By Notice dated October 31, 2000, and

published in the Federal Register on

November 14, 2000, (65 FR 68158),

Stepan Company, Natural Products

Department, 100 W. Hunter Avenue,

Maywood, New Jersey 07605, made

application by renewal to the Drug

Enforcement Administration (DEA) to

be registered as an importer of coca

leaves (9040), a basic class of controlled

substance listed in Schedule II.

The firm plans to import the coca

leaves to manufacture bulk controlled

substance.

No comments or objections have been

received. DEA has considered the

factors in Title 21, United States Code,

Section 823(a) and determined that the

registration of Stepan Company, Natural

Products Department to import coca

leaves is consistent with the public

interest and with United States

obligations under international treaties,

conventions, or protocols in effect on

May 1, 1971, at this time. DEA has

investigated Stepan Company, Natural

Products Department on a regular basis

to ensure that the company’s continued

registration is consistent with the public

interest. This investigation included

inspection and testing of the company’s

physical security systems, audits of the

company’s records, verification of the

company’s compliance with state and

local laws, and a review of the

company’s background and history.

Therefore, pursuant to section 1008(a) of

the Controlled Substances Import and

Export Act and in accordance with Title

21, Code of Federal Regulations, section

1301.34, the above firm is granted

registration as an importer of the basic

class of controlled substance listed

above.

Dated: January 25, 2001.

Laura M. Nagel,

Deputy Assistant Administrator, Office of

Diversion Control, Drug Enforcement

Administration.

[FR Doc. 01–3751 Filed 2–13–01; 8:45 am]

BILLING CODE 4410–09–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

Extension of Information Collection;

Comment Request; Prohibited

Transaction Exemption 91–55

ACTION: Notice.

SUMMARY: The Department of Labor, as

part of its continuing effort to reduce

paperwork and respondent burden,

conducts a preclearance consultation

program to provide the general public

and Federal agencies with an

opportunity to comment on proposed

and continuing collections of

information in accordance with the

Paperwork Reduction Act of 1995 (PRA

95) 44 U.S.C. 3506(c)(2)(A). This helps

to ensure that requested data can be

provided in the desired format,

reporting burden (time and financial

resources) is minimized, collection

instruments are clearly understood, and

the impact of collection requirements on

respondents can be properly assessed.

Currently, the Pension and Welfare

Benefits Administration is soliciting

comments concerning the information

collection request (ICR) incorporated in

Prohibited Transaction Exemption 91–

55, Transactions Between Individual

Retirement Accounts and Authorized

Purchasers of American Eagle Coins. A

copy of the ICR may be obtained by

contacting the office listed in the

Addresses section of this notice.

DATES: Written comments must be

submitted to the office shown in the

Addresses section below on or before

April 16, 2001.

ADDRESSES: Gerald B. Lindrew, Office of

Policy and Research, U.S. Department of

Labor, Pension and Welfare Benefits

Administration, 200 Constitution

Avenue, NW, Washington, D.C. 20210.

Telephone: (202) 219–4782 (this is not

a toll-free number); FAX: (202) 219–

4745. These are not toll-free numbers.

SUPPLEMENTARY INFORMATION:

I. Background

Prohibited Transaction Exemption

91–55 permits purchases and sales by

certain ‘‘individual retirement

accounts,’’ as defined in Internal

Revenue Code section 408 (IRAs) of

American Eagle bullion coins (‘‘Coins’’)

in principal transactions from or to

broker-dealers in Coins that are

‘‘authorized purchasers’’ of Coins in

bulk quantities from the United States

Mint and which are also ‘‘disqualified

persons,’’ within the meaning of Code

section 4975(e)(2), with respect to IRAs.

The exemption also describes the

circumstances under which an interestfree extension of credit in connection

with such sales and purchases is

permitted. In the absence of an

exemption, such purchases and sales

and extensions of credit would be

impermissible under the Employee

Retirement Income Security Act of 1974

(ERISA).

The information collection request for

this exemption includes three

requirements. First, certain information

related to covered transactions in Coins

must be disclosed by the authorized

purchaser to persons who direct the

transaction for the IRA. Currently, it is

standard industry practice that most of

this information is provided to persons

directing investments in an IRA when

transactions in Coins occur. The

exemption also requires that the

disqualified person maintain for a

period of at least six years such records

as are necessary to allow accredited

persons, as defined in the exemption, to

determine whether the conditions of the

transaction have been met. Finally, an

authorized purchaser must provide a

confirmation statement with respect to

each covered transaction to the person

who directs the transaction for the IRA.

The recordkeeping requirement

facilitates the Department’s ability to

make findings under section 408 of

ERISA and section 4975(c) of the Code.

The confirmation and disclosure

requirements protect a participant or

beneficiary investing in IRAs transacting

in Coins with authorized purchasers by

providing the investor or the person

directing his or her investments with

timely information about the market in

Coins and about the individual’s

account in particular.

II. Desired Focus of Comments

The Department of Labor is

particularly interested in comments

that:

• Evaluate whether the proposed

collection of information is necessary

for the proper performance of the

Federal Register / Vol. 66, No. 31 / Wednesday, February 14, 2001 / Notices 10323

functions of the agency, including

whether the information will have

practical utility;

• Evaluate the accuracy of the

agency’s estimate of the burden of the

proposed collection of information,

including the validity of the

methodology and assumptions used;

Enhance the quality, utility, and clarity

of the information to be collected; and

• Minimize the burden of the

collection of information on those who

are to respond, including through the

use of appropriate automated,

electronic, mechanical, or other

technological collection techniques or

other forms of information technology,

e.g., permitting electronic submissions

of responses.

III. Current Actions

This Notice requests comments on the

extension of the ICR included in PTE

91–55. The Department is not proposing

or implementing changes to the existing

ICR at this time.

Type of Review: Extension of a

currently approved collection of

information.

Agency: Pension and Welfare Benefits

Administration, Department of Labor.

Title: Prohibited Transaction

Exemption 91–55.

OMB Number: 1210–0079.

Affected Public: Business or other forprofit; Not-for-profit institutions;

Individuals.

Total Respondents: 3.

Frequency: On occasion.

Total Responses: 55,000.

Estimated Total Burden Hours: 2,400

hours.

Comments submitted in response to

this notice will be summarized and/or

included in the request for Office of

Management and Budget approval of the

information collection request; they will

also become a matter of public record.

Dated: February 6, 2001.

Gerald B. Lindrew,

Pension and Welfare Benefits Administration,

Deputy Director, Office of Policy and

Research.

[FR Doc. 01–3729 Filed 2–13–01; 8:45 am]

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

[Prohibited Transaction Exemption 2001–

07; Exemption Application No. D–10855, et

al.]

Grant of Individual Exemptions;

American Express Financial

Corporation (AEFC)

AGENCY: Pension and Welfare Benefits

Administration, Labor.

ACTION: Grant of individual exemptions.

SUMMARY: This document contains

exemptions issued by the Department of

Labor (the Department) from certain of

the prohibited transaction restrictions of

the Employee Retirement Income

Security Act of 1974 (the Act) and/or

the Internal Revenue Code of 1986 (the

Code).

Notices were published in the Federal

Register of the pendency before the

Department of proposals to grant such

exemptions. The notices set forth a

summary of facts and representations

contained in each application for

exemption and referred interested

persons to the respective applications

for a complete statement of the facts and

representations. The applications have

been available for public inspection at

the Department in Washington, DC. The

notices also invited interested persons

to submit comments on the requested

exemptions to the Department. In

addition the notices stated that any

interested person might submit a

written request that a public hearing be

held (where appropriate). The

applicants have represented that they

have complied with the requirements of

the notification to interested persons.

No public comments and no requests for

a hearing, unless otherwise stated, were

received by the Department.

The notices of proposed exemption

were issued and the exemptions are

being granted solely by the Department

because, effective December 31, 1978,

section 102 of Reorganization Plan No.

4 of 1978, 5 U.S.C. App. 1 (1996),

transferred the authority of the Secretary

of the Treasury to issue exemptions of

the type proposed to the Secretary of

Labor.

Statutory Findings

In accordance with section 408(a) of

the Act and/or section 4975(c)(2) of the

Code and the procedures set forth in 29

CFR Part 2570, Subpart B (55 FR 32836,

32847, August 10, 1990) and based upon

the entire record, the Department makes

the following findings:

(a) The exemptions are

administratively feasible;

(b) They are in the interests of the

plans and their participants and

beneficiaries; and

(c) They are protective of the rights of

the participants and beneficiaries of the

plans.

American Express Financial

Corporation (AEFC) Located in

Minneapolis, MN; Exemption

[Prohibited Transaction Exemption 2001–07;

Exemption Application No. D–10855]

Section I. Exemption for the

Acquisition, Holding and Disposition of

American Express Company Stock

The restrictions of sections

406(a)(1)(D), 406(b)(1) and section

406(b)(2) of the Act, section

8477(c)(2)(A) and (B) of the Federal

Employees Retirement System Act, and

the sanctions resulting from the

application of section 4975 of the Code

by reason of section 4975(c)(1)(D) and

(E) of the Code, shall not apply to the

acquisition, holding and disposition of

the common stock of American Express

Company or its current and future

affiliates (AE Stock) by Index and

Model-Driven Funds (collectively, the

Funds) that are managed by AEFC and

its affiliates [as defined in Section

III(g)(1)], provided that the following

conditions and the General Conditions

of Section II are met:

(a) The acquisition or disposition of

AE Stock is for the sole purpose of

maintaining strict quantitative

conformity with the relevant index

upon which the Index or Model-Driven

Fund is based, and does not involve any

agreement, arrangement or

understanding regarding the design or

operation of the Fund acquiring the AE

Stock which is intended to benefit

AEFC or any party in which AEFC may

have an interest.

(b) Whenever AE Stock is initially

added to an index on which an Index or

Model-Driven Fund is based, or initially

added to the portfolio of an Index or

Model-Driven Fund, all acquisitions of

AE Stock necessary to bring the Fund’s

holdings of such Stock either to its

capitalization-weighted or other

specified composition in the relevant

index, as determined by the

independent organization maintaining

such index, or to its correct weighting

as determined by the model which has

been used to transform the index, occur

in the following manner:

(1) Purchases are from, or through,

only one broker or dealer on a single

trading day;

(2) Based on the best available

information, purchases are not the

opening transaction for the trading day;