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Code · REGISTER · 2006-06-15 · SECURITIES AND EXCHANGE COMMISSION · Notices

Notices. Notice of extension of comment period

39,088 words·~178 min read·/register/2006/06/15/06-5132

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BILLING CODE 8010-01-M SECURITIES AND EXCHANGE COMMISSION [Release No. 34-53963, File No. SR-NSX-2006-03] Self-Regulatory Organizations; National Stock Exchange SM ; Order Approving Proposed Rule Change and Amendment Nos. 1 and 2 Thereto Relating to the Demutualization of the National Stock Exchange June 8, 2006. I. Introduction On April 5, 2006, the National Stock Exchange SM (“NSX” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”), 1 and Rule 19b-4 thereunder, 2 a proposed rule change to effect a series of proposed changes to the Exchange's corporate structure that would allow for the demutualization of the Exchange.
On April 19, 2006, the NSX submitted Amendment No. 1 to the proposed rule change. 3 On April 25, 2006, the NSX submitted Amendment No. 2 to the proposed rule change, as amended. 4 The proposed rule change, as amended, was published for comment in the **Federal Register** on May 3, 2006. 5 The Commission has received one comment on the proposal. 6 The NSX submitted a response to the comment on June 5, 2006. 7 This order approves the proposed rule change, as amended. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 Amendment No. 1 (“Amendment No. 1”) made revisions to the proposed:
Holdings Certificate of Incorporation, Sections (b)(iii)(B) and (C); Holdings By-Laws, Article III, Sections 3.1 and 3.4; NSX By-Laws, Article III, Section 3.2(b); and NSX Rule 2.10. In addition, Amendment No. 1 added new proposed Section 3.6 to Article III of the Holdings By-Laws, requiring Holdings to take reasonable steps necessary to cause its officers, directors, and employees to consent to the applicability to them of Article III of the Holdings By-Laws. Finally, Amendment No. 1 made corresponding changes to Item 3 of Form 19b-4 and Exhibit 1 to describe the effect of the foregoing Exhibit 5 revisions and also add a description of proposed NSX Rule 2.10. 4 Amendment No. 2 (“Amendment No. 2”) made changes to Item 3 of Form 19b-4 and Exhibit 1, which changes were incorporated into the notice; *see infra,* note 5. 5 *See* Securities Exchange Act Release No. 53721 (April 25, 2006), 71 FR 26155 (May 3, 2006) (”Demutualization Notice”). 6 *See* Letter from Ann Yerger, Executive Director, Council of Institutional Investors to Nancy M.
Morris, Secretary, Commission, dated May 11, 2006 (“CII Letter”). 7 *See* Letter from James C. Yong, Chief Regulatory Officer, Exchange to Nancy M. Morris, Secretary, Commission, dated June 5, 2006 (“NSX Response”). II. Description of Proposed Rule Change a. Description of Demutualization Transaction Currently, NSX is a non-stock nonprofit Ohio corporation. NSX proposes to demutualize by reorganizing as a Delaware for-profit stock corporation that would be a direct and wholly-owned subsidiary of a new Delaware for-profit stock holding company (“Holdings”).
To accomplish the demutualization, NSX has established
(i)two new Delaware stock for-profit corporations: Holdings, a direct and wholly-owned subsidiary of NSX, and NSX Delaware Merger Sub, Inc. (“NSX Delaware Merger Sub”), a direct and wholly-owned subsidiary of Holdings, and
(ii)one transitory Ohio stock for-profit corporation, NSX Ohio Merger Sub, Inc. (“NSX Ohio Merger Sub”), also a direct and wholly-owned subsidiary of Holdings. 8 8 The Exchange stated that the establishment of NSX Ohio Merger Sub and the process of demutualization through two mergers (as described more fully in this document) are necessitated because under Ohio law, NSX, as an Ohio nonprofit corporation, may not merge directly with and into a foreign for-profit corporation, such as NSX Delaware Merger Sub. Pursuant to an agreement and plan of merger, NSX would merge (“Merger #1”) with and into NSX Ohio Merger Sub, with NSX Ohio Merger Sub surviving the merger as an Ohio for-profit stock corporation that is a direct and wholly-owned subsidiary of Holdings. As a result of Merger #1, NSX Ohio Merger Sub will be the initial successor-in-interest to NSX. Immediately following Merger #1, pursuant to a second agreement and plan of merger, NSX Ohio Merger Sub would merge (“Merger #2”) with and into NSX Delaware Merger Sub, with NSX Delaware Merger Sub renamed National Stock Exchange, Inc. surviving the merger as a Delaware for-profit stock corporation that is a direct and wholly-owned subsidiary of Holdings. 9 9 The term “NSX” in this document will also refer to the Exchange as a Delaware for-profit stock corporation after the demutualization. In the Demutualization Notice, the Exchange stated that upon completion of Merger #2, NSX, the Delaware for-profit stock corporation, would be, in effect, the successor-in-interest to NSX, the current Ohio non-stock nonprofit corporation, and would assume all of the assets and liabilities of the Exchange, including, without limitation, the adherence to, and the performance of, the undertakings under the *Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 19(b) and 21C of the Securities Exchange Act of 1934, Making Findings and Imposing Sanctions,* entered by the Commission on May 19, 2005 10 (the “Order”). 11 NSX stated that it would continue to engage in the business of operating a national securities exchange registered under Section 6 of the Act. 12 10 *See* Securities Exchange Act Release No. 51714. 11 *See* Demutualization Notice. 12 15 U.S.C. 78f. Following the demutualization, the Exchange stated that earnings of NSX not retained in its business may be distributed to its parent, Holdings, and Holdings would be authorized to pay dividends to the stockholders of Holdings as and when they are declared by the Board of Directors of Holdings, but subject to the limitation under the proposed NSX By-Laws that any revenues received by NSX from regulatory fees or penalties may not be used to pay dividends. *See* proposed NSX By-Laws, Section 10.4. Presently, the members of NSX hold certificates of proprietary membership in NSX and have a right to trade on the exchange operated by NSX. On the effective date of the demutualization (the “Effective Date”), each member of NSX would receive 1,000 shares of Holdings Class A common stock 13 for the first certificate of proprietary membership of NSX held by the member and would receive a modestly discounted number of shares of Class A common stock (determined by a formula set forth in the Merger #1 merger agreement) for each additional certificate held. If, however, the total number of Class A shares to be received by a member that would hold an equity trading permit entitling it to trading access on the Exchange after the demutualization (an “ETP Holder”), together with any Class A shares to be received by that member's Related Persons, 14 would exceed 20% of the total number of Class A shares issued (and thus be in violation of an ownership limitation under the proposed Holdings Certificate of Incorporation 15 ), that member would receive shares of Class C common stock 16 (which would generally not be entitled to the right to vote) in lieu of the shares of Class A common stock that are in excess of the 20% ownership limitation (and that the member would have received were the 20% ownership limitation not in effect under the proposed Holdings Certificate of Incorporation). 13 Holdings would be authorized to issue 1,100,000 shares of common stock having a par value of $.0001 per share (of which 900,000 shares will be designated as Class A common stock, 100,000 shares will designated as Class B common stock and 100,000 shares will be designated as Class C common stock) and 100,000 shares of preferred stock having a par value of $.0001 per share. The Class A common stock would be entitled to one vote per share, absent a provision in the Holdings Certificate of Incorporation fixing or denying voting rights. Neither the Class B nor Class C common stock would be entitled to vote, unless the matter at issue would the alter the rights, preferences, privileges or limitations (other than the right to vote) of that stock, respectively, without also altering the rights, preferences, privileges and limitations of the Class A common stock in an identical manner. *See* proposed Holdings Certificate of Incorporation, Article Fourth, and proposed Holdings By-Laws, Section 4.10. 14 Under the proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (a)(ii), “Related Persons” means, with respect to any Person:
(A)Any “affiliate” of such Person (as such term is defined in Rule 12b-2 under the Act);
(B)any other Person with which such first Person has any agreement, arrangement or understanding (whether or not in writing) to act together for the purpose of acquiring, voting, holding or disposing of shares of the capital stock of the Corporation;
(C)in the case of a Person that is a company, corporation or similar entity, any executive officer (as defined under Rule 3b-7 under the Act) or director of such Person and, in the case of a Person that is a partnership or limited liability company, any general partner, managing member or manager of such Person, as applicable;
(D)in the case of an ETP Holder, any Person that is associated with the ETP Holder (as determined using the definition of “person associated with a member” as defined under Section 3(a)(21) of the Act);
(E)in the case of a Person that is an individual, any relative or spouse of such Person, or any relative of such spouse who has the same home as such Person or who is a director or officer of the Corporation or any of its parents or subsidiaries;
(F)in the case of a Person that is an executive officer (as defined under Rule 3b-7 under the Act) or a director of a company, corporation or similar entity, such company, corporation or entity, as applicable; and
(G)in the case of a Person that is a general partner, managing member or manager of a partnership or limited liability company, such partnership or limited liability company, as applicable. 15 *See infra* subsection II.b.(1)(a)(iv). 16 Each share of Class C common stock issued would be convertible, at the option of its holder, to one share of Class A common stock upon the satisfaction of certain notification and other requirements under the Holdings Certificate of Incorporation, but only to the extent that the conversion does not violate the limitations on ownership, transfer and voting applicable to Class A common stock under the Holdings Certificate of Incorporation, as more fully described in this document. *See* proposed Holdings Certificate of Incorporation, Article Fourth, paragraph (d). The Chicago Board Options Exchange, Incorporated (“CBOE”) owns certificates of proprietary membership in NSX but is not a member of NSX. In the demutualization, CBOE would receive shares of Holdings Class B common stock (which is generally not entitled to the right to vote) in exchange for its certificates of proprietary membership in NSX that are subject to put and call rights under a Termination of Rights Agreement between NSX and CBOE dated September 27, 2004 (the “TORA”), 17 and would receive shares of Holdings Class A common stock in exchange for the remainder of its certificates of proprietary membership. 18 The number of Class A and Class B shares received by CBOE would be based on the discount formula set forth in the Merger #1 merger agreement. 17 In 1986, NSX and CBOE entered into an agreement of affiliation pursuant to which CBOE obtained certificates of proprietary membership in NSX and certain rights associated with NSX, including the right to hold certain seats on the Board of Directors of NSX and certain put rights in connection with its certificates of proprietary membership in NSX. Under the TORA, CBOE agreed to relinquish, upon certain terms, certain of these rights in exchange for cash payments and other undertakings. *See* Securities Exchange Act Release No. 34-51033 (January 13, 2005), 70 FR 3085 (January 19, 2005) (File No. SR-NSX-2004-12). *See also infra* subsection II.b.(1)(b)(ii). 18 Each share of Class B common stock would automatically convert to one share of Class A common stock upon its transfer, in accordance with the TORA, to a bona fide third party purchaser unaffiliated with CBOE. *See* proposed Holdings Certificate of Incorporation, Article Fourth, paragraph (c). NSX stated that the Class B shares would be transferable only under extraordinary circumstances. Following the demutualization, persons and entities who have been qualified for membership under the Exchange's current Rules and, as a result, have access to the Exchange's trading facilities would separately receive NSX equity trading permits (“ETPs”) entitling them to maintain their trading access to NSX and, as noted above, would be referred to as “ETP Holders.” Shares of Holdings capital stock and ETPs would not be tied together. Following the demutualization, former NSX members would be able to sell the shares of Holdings capital stock they receive in connection with the demutualization, subject to the applicable restrictions in the proposed Holdings Certificate of Incorporation and Holdings By-Laws (as described more fully below), while retaining the ability to trade and operate on the Exchange pursuant to their ETPs. Any other person or entity that satisfies the regulatory requirements set forth in the NSX Rules also would be able to obtain an ETP without regard to whether such person is a stockholder of Holdings. b. Summary of Proposed Rule Change The proposed rule change, as amended, consists of the proposed Holdings Certificate of Incorporation and Holdings By-Laws and the proposed changes to the Articles of Incorporation and By-Laws of the Exchange that reflect governance and corporate form changes. In addition, the proposed rule change includes proposed changes to the Rules of the Exchange that are necessary to implement the proposed equity trading permit structure. NSX also proposes to move certain provisions in the current By-Laws of NSX respecting members, listing standards, and other matters not relating to the Exchange's corporate governance to the NSX Rules.
(1)Corporate Structure
(a)Holdings Following the demutualization, Holdings would be the parent company and sole stockholder of NSX. NSX stated that all of the issued and outstanding stock of Holdings initially would be owned by the former owners of certificates of proprietary membership in the Exchange. As sole stockholder of NSX, Holdings would have the right to elect the Board of Directors of NSX, subject to certain provisions in the Holdings By-Laws that require Holdings to vote for certain persons nominated for ETP Holder Director positions and certain persons nominated for CBOE Director positions, in each case in accordance with the revised governance documents of NSX. The Holdings Certificate of Incorporation and the Holdings By-Laws would govern the activities of Holdings.
(i)Holdings Board of Directors The business and affairs of Holdings would be managed by its Board of Directors (“Holdings Board”). The Holdings Board would consist of between 10 and 16 persons, as determined by the Holdings Board, one of which shall be the Chief Executive Officer (“CEO”) of Holdings. The Holdings Board would initially have 13 directors after the demutualization. No person that is subject to any “statutory disqualification” (within the meaning of Section 3(a)(39) of the Act) may be a director of Holdings. 19 19 *See* proposed Holdings Certificate of Incorporation, Article Sixth, Section (a), and proposed Holdings By-Laws, Sections 2.2(a) and (b). The directors of Holdings would be divided into three classes, which would be as nearly equal in number as the total number of directors then constituting the entire Holdings Board. After completion of an initial phase-in schedule, the directors of Holdings would serve staggered three-year terms, with the term of office of one class expiring each year. 20 20 *See* proposed Holdings Certificate of Incorporation, Article Sixth, Section (b), and proposed Holdings By-Laws, Section 2.2(c). The Holdings Board would elect its Chairman from among the directors on the Holdings Board, and may elect a vice-chairman to perform the functions of the Chairman in his or her absence. 21 21 *See* proposed Holdings By-Laws, Section 2.3(a). At each annual meeting of the stockholders of Holdings at which a quorum is present, the individuals receiving a plurality of the votes cast of the Class A shares would be elected directors of Holdings. 22 At an election of directors, each Holdings stockholder would be entitled to one vote for each share of Class A common stock owned by that stockholder. 23 Class B and Class C shares shall not be entitled to vote at an election of directors. 24 22 *See* proposed Holdings By-Laws, Section 4.8. 23 *See* proposed Holdings Certificate of Incorporation, Article Fourth, paragraph (b), and proposed Holdings By-Laws, Section 4.10. 24 *See* proposed Holdings Certificate of Incorporation, Article Fourth, paragraphs
(c)and (d). In most cases, vacancies on the Holdings Board would be filled by the remaining directors of Holdings. If the vacancy has resulted from a director being removed for cause by the stockholders of Holdings, however, that vacancy may be filled by the stockholders of Holdings at the same meeting at which the director was removed. Any director appointed to fill a vacancy will serve until the expiration of the term of office of the replaced director or until the end of the term for a newly-created directorship. 25 25 *See* proposed Holdings By-Laws, Section 2.4.
(ii)Committees of Holdings The Holdings Board would have an Audit Committee, a Governance and Nominating Committee, and such other committees that the Holdings Board establishes. 26 The Chairman of the Holdings Board would appoint the members of all committees of the Holdings Board, and may remove any member so appointed, subject to the approval of the Holdings Board. 27 Each committee would have the authority and duties prescribed for it in the Holdings By-Laws or by the Holdings Board. 28 26 *See* proposed Holdings By-Laws, Section 5.1. 27 *See* proposed Holdings By-Laws, Section 5.2. 28 *See* proposed Holdings By-Laws, Section 5.3.
(iii)Officers of Holdings The officers of Holdings would be a CEO, a President, a Secretary, a Treasurer, and such other officers as the Holdings Board determines. 29 The CEO would be responsible to the Holdings Board for management of the business affairs of Holdings. 30 The officers of Holdings would have the duties and authority set forth in the Holdings By-Laws or given to them by the Holdings Board, and in the case of the President, the Secretary, and the Treasurer, given to them by the Chief Executive Officer. 31 Any two or more offices may be held by the same person, except that the Secretary may not also serve as the CEO or the President. No person that is subject to any “statutory disqualification” (within the meaning of Section 3(a)(39) of the Act) may be an officer of Holdings. 32 29 *See* proposed Holdings By-Laws, Section 6.1. 30 *See* proposed Holdings By-Laws, Section 6.4. 31 *See* proposed Holdings By-Laws, Sections 6.1, 6.4, 6.5, 6.6, and 6.7. 32 *See* proposed Holdings By-Laws, Section 6.1.
(iv)Stockholder Restrictions The Holdings Certificate of Incorporation and the Holdings By-Laws place certain restrictions on the ability to transfer, own, and vote the capital stock of Holdings.
(1)Restrictions on Voting The Holdings Certificate of Incorporation prohibits any Person, 33 either alone or together with its Related Persons, from
(a)voting or giving a proxy or consent with respect to shares representing more than 20% of the voting power of the then-issued and outstanding capital stock of Holdings; or
(b)entering into any agreement, plan, or arrangement that would result in the shares of Holdings subject to that agreement, plan, or arrangement not being voted on a matter, or any proxy relating thereto being withheld, where the effect of that agreement, plan, or arrangement would be to enable any Person, alone or together with its Related Persons, to obtain more than 20% of the voting power of the then-issued and outstanding capital stock of Holdings. 34 33 Article Fifth of the proposed Holdings Certificate of Incorporation defines a “Person” to mean “an individual, partnership (general or limited), joint stock company, corporation, limited liability company, trust or unincorporated organization, or any governmental entity or agency or political subdivision thereof.” 34 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(ii)(C). This restriction would not apply to the Class B or Class C common stock and, as to the Class A common stock owned by Persons other than ETP Holders and their Related Persons, may be waived by Holdings Board pursuant to a resolution adopted by the Holdings Board. 35 Before adopting such resolution, however, the Holdings Board must determine that, among other things, the waiver of the voting limitation will not impair the ability of NSX to carry out its functions and responsibilities under the Act and the rules and regulations promulgated thereunder, and will not impair the Commission's ability to enforce the Act and the rules and regulations promulgated thereunder. 36 In addition, the Holdings Board also must determine that a Person and its Related Persons that would vote more than 20% of the outstanding stock of Holdings are not subject to an applicable “statutory disqualification” (within the meaning of Section 3(a)(39) of the Act). 37 Finally, any resolution of the Holdings Board that would permit a Person to vote more than 20% of the outstanding stock of Holdings must be filed with and approved by the Commission before it becomes effective. 38 35 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraphs (b)(iii)(A) and (B). *See* Amendment No. 1, *supra* note 3. 36 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iii)(B). 37 15 U.S.C. 78c(a)(39); *see* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iv). 38 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iii)(B).
(2)Restrictions on Ownership Under the proposed Holdings Certificate of Incorporation, no Person, either alone or together with its Related Persons, may own shares constituting more than 40% of any class of capital stock of Holdings (other than a class of stock without general voting rights). 39 The Holdings Board may waive this ownership limitation pursuant to a resolution adopted by the Holdings Board. Before adopting such resolution, however, the Holdings Board must determine that, among other things, the waiver of the ownership limitation would not impair the ability of NSX to carry out its functions and responsibilities under the Act and the rules and regulations promulgated thereunder and would not impair the Commission's ability to enforce the Act and the rules and regulations promulgated thereunder. 40 39 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraphs (b)(ii)(A) and (b)(iii)(A). 40 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iii)(B). In addition, the Holdings Board also must determine that any Person and its Related Persons that would own more than 40% of any class of capital stock of Holdings are not subject to any applicable “statutory disqualification” (within the meaning of Section 3(a)(39) of the Act). 41 Finally, any Holdings Board resolution that would permit ownership of Holdings capital stock in excess of the ownership limitation described above must be filed with and approved by the Commission before it becomes effective. 42 41 15 U.S.C. 78c(a)(39); *see* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iv). 42 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraphs (b)(iii)(B) and (C). In addition to the ownership restriction described above, no ETP Holder, whether alone or together with its Related Persons, may own shares constituting more than 20% of any class of capital stock of Holdings. 43 However, this ownership restriction would not apply to any ETP Holder, with respect to shares of Class C common stock of Holdings issued to the ETP Holder in connection with, and from the date of, the demutualization of NSX so long as the ETP Holder becomes compliant with the ownership limitation promptly after such issuance. 44 43 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(ii)(B). 44 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iii)(C). *See* Amendment No. 1, *supra* note 3.
(3)Other Stockholder Ownership and Voting Restriction Requirements The proposed Holdings Certificate of Incorporation contains several provisions that would enable Holdings to enforce restrictions on the ownership and voting of Holdings capital stock described in the preceding section. Specifically, if a stockholder purports to sell, transfer, assign, or pledge to any Person (other than Holdings) any shares of Holdings that would violate the ownership restrictions, Holdings would record on its books the transfer of only the number of shares that would not violate the restrictions and would treat the remaining shares as owned by the purported transferor, for all purposes, including, without limitation, voting, payment of dividends, and distributions. 45 45 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (d). In addition, if any stockholder purports to vote, or to grant any proxy or enter into any agreement, plan, or arrangement relating to the voting of shares that would violate the voting restrictions, Holdings would not honor such vote, proxy, or agreement, plan, or other arrangement to the extent that the restrictions would be violated, and any shares subject to that arrangement would not be entitled to be voted to the extent of the violation. 46 Further, if any stockholder purports to sell, transfer, assign, pledge, vote, or own any shares that would violate the ownership and voting restrictions, Holdings would have the right to, and would generally be required to promptly, redeem such shares at a price equal to the par value of the shares. 47 Also, a stockholder that alone or together with its Related Persons owns five percent or more of the then outstanding shares of the capital stock of Holdings entitled to vote in an election of directors must, upon acquiring knowledge of such ownership, immediately give the Holdings Board written notice of such ownership. 48 Holdings may also require any Person reasonably believed to be subject to and in violation of the voting and ownership restrictions to provide to Holdings information relating to such potential violation. 49 46 *Id* . 47 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (e). 48 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (c)(i). Such notice must also be updated under certain circumstances. *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (c)(ii). 49 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (c)(iii).
(4)Restrictions on Transfer Members, former members, and other equity owners of NSX who receive shares of capital stock of Holdings in the demutualization may not sell, transfer, or otherwise dispose of those shares for the first thirty days following their issuance, unless the Holdings Board waives this transfer restriction. 50 50 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(i). Also, unless waived by the Holdings Board or pursuant to a redemption of shares by Holdings, each stockholder of Holdings would be prohibited from selling, transferring, or otherwise disposing of common shares of Holdings except in amounts of at least 1,000 shares (unless the stockholder is transferring all shares owned), and no stockholder would be permitted to transfer any capital stock of Holdings (other than pursuant to a redemption of shares by Holdings) until all amounts due and owing from that stockholder to NSX have been paid. 51 51 *See* proposed Holdings By-Laws, Sections 9.4 and 9.5(b). In the event that a stockholder desires to transfer shares of capital stock of Holdings to any person (other than an affiliate of the stockholder or to another holder of the same class of capital stock) prior to January 1, 2011, Holdings would have a right of first refusal permitting it to purchase those shares, except for transfers by bequest, operation of law, or judicial decree under certain circumstances. 52 52 *See* proposed Holdings By-Laws, Section 9.6. In addition to these transfer restrictions, shares of Holdings would be “restricted securities” under the Securities Act of 1933 (“Securities Act”) and only may be transferred pursuant to an effective registration statement under the Securities Act and in accordance with applicable state securities laws or, if an exemption from registration is available, upon delivery to Holdings of a satisfactory opinion of counsel that such transfer may be effected pursuant to the exemption. In addition, counsel to Holdings may require delivery of documentation to ensure that the transfer complies with the Securities Act and state securities laws before such transfer is effected. 53 In the Demutualization Notice, the Exchange stated that Holdings had no intention to register its common stock under the Securities Act or the Act, and, unless waived in writing by the Holdings Board, no transfer would be honored by Holdings that would cause Holdings to have to do so or to become subject to the reporting requirements of the Act. 54 53 *See* proposed Holdings By-Laws, Section 9.5(a). 54 *See* proposed Holdings By-Laws, Section 9.5(c).
(v)Self-Regulatory Function and Oversight The Holdings By-Laws contain various provisions designed to protect the independence of the self-regulatory function of NSX. For example, under the Holdings By-Laws, for as long as Holdings controls NSX, the Holdings Board and the directors, officers, and employees of Holdings must give due regard to the preservation of the independence of the self-regulatory function of NSX and to its obligations to investors and the general public, and are prohibited from taking actions that would interfere with the effectuation of decisions by the Board of Directors of NSX (“NSX Board”) relating to NSX's regulatory functions, including disciplinary matters, or which would interfere with NSX's ability to carry out its responsibilities under the Act. 55 55 *See* proposed Holdings By-Laws, Section 3.1. The Holdings By-Laws also contain a specific requirement that all books and records of NSX, and the information contained therein, that reflect confidential information pertaining to the self-regulatory function of NSX, which come into the possession of Holdings, must be retained in confidence by Holdings and its Board, officers, employees, and agents, and must not be used for any non-regulatory purposes. 56 In addition, the Holdings By-Laws provide that, to the extent they are related to the activities of NSX, the books, records, premises, officers, directors, agents, and employees of Holdings are deemed to be the books, records, premises, officers, directors, agents, and employees of NSX for the purposes of, and subject to oversight pursuant to, the Act. 57 56 *See* proposed Holdings By-Laws, Section 3.2. 57 *See* proposed Holdings By-Laws, Section 3.3. This provision also requires Holdings to maintain its books and records in the United States. Pursuant to the Holdings By-Laws, Holdings must comply with the Federal securities laws and the rules and regulations promulgated thereunder. The Holdings By-Laws also provide that Holdings must cooperate with the Commission and NSX pursuant to and to the extent of their respective regulatory authority, and that the officers, directors, employees, and agents of Holdings, by virtue of their acceptance of such position, are deemed to agree to cooperate with the Commission and NSX in respect of the Commission's oversight responsibilities regarding NSX and the self-regulatory function and responsibilities of NSX. 58 In addition, the Holdings By-Laws provide that Holdings, its officers, directors, employees, and agents, by virtue of their acceptance of such positions, are deemed to irrevocably submit to the jurisdiction of the U.S. federal courts, the Commission and NSX, for the purpose of any suit, action, or proceeding pursuant to the U.S. federal securities laws, and the rules and regulations promulgated thereunder, arising out of, or relating to, the activities of NSX. 59 58 *See* proposed Holdings By-Laws, Section 3.4. *See* Amendment No. 1, *supra* note 3. 59 *See* proposed Holdings By-Laws, Section 3.5. Pursuant to the Holdings By-Laws, Holdings would be required to take reasonable steps necessary to cause its officers, directors, and employees, prior to accepting a position as an officer, director, or employee, as applicable, of Holdings, to consent in writing to the applicability to them of the provisions described in this and the preceding two paragraphs with respect to their activities related to NSX; *see* Amendment No. 1, *supra* note 3. Finally, the Holdings Certificate of Incorporation and the Holdings By-Laws provide that, as long as Holdings controls NSX, before any change to the Holdings Certificate of Incorporation or the Holdings By-Laws, respectively, will be effective, such change must be submitted to the NSX Board, and if the NSX Board determines that the change must be filed with or filed with and approved by the Commission before it may be effective, the change will not be effective until it is filed with, or filed with and approved by, the Commission, as the case may be. 60 60 *See* proposed Holdings Certificate of Incorporation, Article Twelfth, and proposed Holdings By-Laws, Article VIII. These provisions additionally state, respectively, that
(i)any change to the proposed Holdings Certificate of Incorporation must also be first approved by the Holdings Board and
(ii)any change to the proposed Holdings By-Laws may be made by either the stockholders of Holdings or the Holdings Board. In addition, under Article Fourth, paragraph
(e)of the proposed Holdings Certificate of Incorporation, holders of preferred stock (voting separately as single class) must approve any change to the Holdings Certificate of Incorporation that would change the terms of that preferred stock. No preferred stock is currently issued and outstanding.
(b)NSX Following the demutualization, NSX would become a Delaware for-profit stock corporation, with the authority to issue 1,000 shares of common stock. At all times, all of the voting stock of NSX would be owned by Holdings. 61 NSX would continue to be the entity registered as a national securities exchange under Section 6 of the Act 62 and, accordingly, NSX would continue to be a self-regulatory organization (“SRO”). 63 61 *See* proposed NSX Certificate of Incorporation, Article Fourth. 62 15 U.S.C. 78f. 63 In addition, NSX stated that it would continue to adhere to the undertakings in the Order ( *see supra note* 10) including, without limitation, the structure provisions of a Regulatory Oversight Committee, the separation of the regulatory functions from the commercial interests of the Exchange, and the retention of third parties to review the Exchange's regulatory functions.
(i)Governing Documents and NSX Rules The proposed NSX Certificate of Incorporation, 64 NSX By-Laws, and NSX Rules (with the proposed changes described in this document) would govern the activities of NSX. NSX stated that these rules and governance documents reflect, among other things, NSX's status as a wholly-owned subsidiary of Holdings, its management by the NSX Board and its designated officers, and its self-regulatory responsibilities pursuant to NSX's registration under Section 6 of the Act. NSX's proposed governance documents are designed to be consistent with its current governance structure, with certain changes based upon its proposed new corporate form. 64 Due to differences in terminology between Ohio and Delaware law, the Exchange's Articles of Incorporation are proposed to be renamed its “Certificate of Incorporation.”
(ii)Board of Directors After the demutualization, the NSX Board would initially consist of 13 directors. The NSX Board would be initially comprised of the CEO of NSX, 3 ETP Holder Directors, 65 7 Independent Directors, 66 and 2 directors who are executive officers of CBOE, its members, 67 or executive officers of CBOE member organizations. 68 Currently, the Exchange's Board of Directors consists of the CEO of NSX, 3 proprietary members or executive officers of proprietary members, 7 independent directors, and 2 executive officers of CBOE, CBOE members, or executive officers of CBOE member organizations. 65 An ETP Holder Director is defined under the proposed NSX By-Laws as a director who is an ETP Holder or a director, officer, managing member or partner of an entity that is an ETP Holder. * See* proposed NSX By-Laws, Section 1.1(E)(2). 66 An Independent Director is defined under the proposed NSX By-Laws as a member of the NSX Board that the NSX Board has determined to have no material relationship with NSX or any affiliate of NSX, or any ETP Holder or any affiliate of any such ETP Holder, other than as a member of the NSX Board. *See* proposed NSX By-Laws, Section 1.1(I)(1). This definition is consistent with the definition of Independent Director in the current By-Laws of NSX. NSX states that at least one Independent Director will be representative of investors; *see* Amendment No. 1, *supra* note 3. 67 A CBOE member is defined under the proposed NSX By-Laws as an individual CBOE member or a CBOE member organization that is a regular member or special member of CBOE (as such terms are described in the Constitution of the CBOE), as such CBOE members may exist from time to time. *See* proposed NSX By-Laws, Section 1.1(C)(2). 68 *See* proposed NSX By-Laws, Section 3.2(a). Under the proposed rule change, the NSX Board may by resolution increase its size to up to 20 directors. Directors added to the NSX Board to fill these new director positions will be
(i)Independent Directors, to the extent necessary for the NSX Board to include at least 50% Independent Directors;
(ii)ETP Holder Directors, to the extent necessary for the NSX Board to include at least 20% ETP Holder Directors; and
(iii)persons who do not qualify as Independent Directors (“At-Large Directors”), for the remainder of the positions added to the NSX Board that are not filled with Independent Directors or ETP Holder Directors pursuant to clauses
(i)and
(ii)above. At all times, the NSX Board must include the CEO of NSX, at least 50% Independent Directors and 3 ETP Holder Directors (or such greater number of ETP Holder Directors as is necessary to comprise at least 20% of the NSX Board). 69 69 *See* proposed NSX By-Laws, Section 3.2(b); *see* Amendment No. 1, *supra* note 3. No two or more directors under the proposed NSX By-Laws may be partners, officers, or directors of the same person or be affiliated with the same person, unless such affiliation is with a national securities exchange or Holdings. 70 Directors of NSX other than the CEO and the CBOE Directors would be divided into three classes, consisting as nearly as possible of equal numbers of directors. 71 After completion of an initial phase-in schedule, these directors would serve for staggered three-year terms, with the term of one class expiring each year. The CEO's appointment as a director would coincide with his or her term as CEO of NSX. 72 The CBOE Directors would each serve a one year term. 73 70 *See* proposed NSX By-Laws, Section 3.2(c). 71 *See* proposed NSX By-Laws, Section 3.4. 72 *See* proposed NSX By-Laws, Section 3.4(a). 73 *See* proposed NSX By-Laws, Section 3.4(d). Under the proposed NSX By-Laws, the NSX Board is subject to change upon certain events in accordance with the TORA between CBOE and NSX. 74 Under the TORA, CBOE was provided with 4 put rights to transfer its equity interests in NSX to NSX and NSX was provided with 4 call rights on those equity interests. According to NSX, as of March 10, 2006, the first of these put rights was exercised by CBOE, decreasing the number of director positions of NSX filled by a representative of CBOE from 3 to 2 and increasing the number of positions filled by independent directors from 6 to 7. Under the proposed NSX By-Laws: 74 *See generally* proposed NSX By-Laws, Section 3.3. • On the second closing of a put or call under the TORA, the number of positions on the NSX Board filled by representatives of CBOE will be reduced from 2 to 1. The vacant director position must be filled by an At-Large Director, unless an Independent Director is needed to maintain at least 50% Independent Directors on the NSX Board. 75 75 *See* proposed NSX By-Laws, Section 3.3(a). • On the earlier of the date CBOE owns less than 5% of the outstanding capital stock of Holdings or the third anniversary of the fourth closing of a put or call under the TORA, CBOE's appointed positions on the NSX board will decrease to zero. The vacant director position must be filled with an At-Large Director, unless an Independent Director is needed to maintain at least 50% Independent Directors on the NSX Board. 76 76 *See* proposed NSX By-Laws, Section 3.3(b). The NSX Board would elect its Chairman from among the directors of the NSX Board. The Chairman of the NSX Board may also serve as the CEO and President of NSX, but may hold no other offices in NSX. Unless the Chairman also serves as the CEO of NSX, the NSX Board must elect the Chairman from among the Independent Directors of the NSX Board. 77 77 *See* proposed NSX By-Laws, Section 3.6. In most cases, vacancies on the NSX Board would be filled by the remaining directors of NSX. If the vacancy has resulted from a director being removed for cause by the stockholders of NSX, however, that vacancy may be filled by the stockholder of NSX ( *i.e.* , Holdings) at the same meeting at which the director was removed. Any director appointed to fill a vacancy would serve until the expiration of the term of office of the replaced director or until the end of the term for a newly-created directorship. 78 78 *See* proposed NSX By-Laws, Section 3.7(a).
(iii)Nomination and Election of Directors After the formation of the initial NSX Board, the NSX Governance and Nominating Committee would nominate directors for each director position (other than CBOE director positions) standing for election at the annual meeting of stockholders that year. Candidates for CBOE Directors would be nominated by the Board of Directors of CBOE at its annual meeting or within 20 days of NSX's annual stockholders' meeting. Because ETPs are not equity interests in NSX, ETP Holders are not entitled to directly elect members of the NSX Board. Rather, Holdings, as the sole stockholder of NSX, would have the sole right and the obligation to vote for the directors of the NSX Board. 79 79 Under Section 10.5(a) of the proposed By-Laws of Holdings, the power to vote the stock of NSX held by Holdings would be with the CEO of Holdings, unless the Holdings Board instructs otherwise or unless the Holdings Board or the CEO of Holdings confers such power on another person. Specifically, the ETP Holder Director Nominating Committee of NSX (which would be composed solely of ETP Holder Directors and/or ETP Holder representatives) would consult with the NSX Governance and Nominating Committee, the Chairman, and the CEO of NSX and solicit comments from ETP Holders for the purpose of approving and submitting names of ETP Holder Director candidates. 80 These initial candidates for nomination would be announced to ETP Holders, who would then have the opportunity to identify additional candidates for nomination to ETP Holder Director positions by submitting a petition signed by at least ten percent of the ETP Holders. An ETP Holder may endorse as many candidates as there are ETP Holder Director positions to be filled. If no petitions are submitted within the time frame prescribed by the NSX By-Laws, the initial candidates approved and submitted by the ETP Holder Director Nominating Committee would be nominated. If one or more valid petitions are submitted, the ETP Holders would vote on the entire group of potential candidates, and the individuals receiving the largest number of votes would be the ETP Holder Director nominees. 81 80 *See* proposed NSX By-Laws, Section 3.5. 81 Under Section 3.5(e) of the proposed NSX By-Laws, each ETP Holder, regardless of its affiliation with other ETP Holders, will have one vote with respect to each ETP Holder Director position to be filled, but may not cast such votes cumulatively. The CBOE directors are elected by the Board of Directors of CBOE at its January meeting or as soon thereafter as possible. The current By-Laws of NSX also contain a procedure for proprietary member director nominations, whereby one proprietary member director candidate is nominated by the Nominating Committee and additional proprietary member director candidates may be nominated by a petition signed by ten percent or more of the proprietary members. At an annual election during the annual meeting of members, the proprietary members vote for the proprietary member directors among the nominated candidates.
(iv)Committees The NSX Board would have the following committees:
(1)A Business Conduct Committee;
(2)a Securities Committee;
(3)an Appeals Committee;
(4)a Governance and Nominating Committee;
(5)an ETP Holder Director Nominating Committee;
(6)a Regulatory Oversight Committee;
(7)a Compensation Committee;
(8)an Executive Committee; and
(9)an Audit Committee. 82 The NSX Board may establish other committees from time to time. Each committee would have the authority and responsibilities prescribed for it in the NSX By-Laws, the rules of the Exchange, or by the NSX Board. 83 82 *See* proposed NSX By-Laws, Section 5.1. 83 *See* proposed NSX By-Laws, Sections 5.1 and 5.3. The Chairman of the NSX Board would appoint, and may remove, the members of the committees, subject to the approval of the NSX Board. 84 Each committee must have at least 3 members. 85 The Executive Committee would have the powers that the NSX Board delegates to it, except the power to change the membership of, or fill vacancies in, the Executive Committee. 86 The ETP Holder Director Nominating Committee would have the power to approve and submit names of candidates for election to the position of ETP Holder Director in accordance with the NSX By-Laws. 87 The Regulatory Oversight Committee would oversee all of the regulatory functions and responsibilities of NSX and advise the NSX Board on regulatory matters. 88 The Regulatory Oversight Committee's duties and responsibilities are outlined in its charter. 89 84 Under Section 5.2 of the proposed NSX By-Laws, the terms of committee members are subject to the appointment and removal process of the Chairman and NSX Board. 84 85 *See* proposed NSX By-Laws, Section 5.2. 86 *See* proposed NSX By-Laws, Section 5.5. 87 *See* proposed NSX By-Laws, Section 5.7. 88 *See* proposed NSX By-Laws, Section 5.6. 89 NSX stated that the Regulatory Oversight Committee's charter following demutualization would be the same as the charter previously filed with the Commission, and is consistent with the terms of the Order. *See* Securities Exchange Act Release No. 34-52573 (October 7, 2005), 70 FR 60113 (October 14, 2005) (File No. SR-NSX-2005-07). strategies of the Exchange's ETP Holders.
(v)Management The officers of NSX would be a CEO, a President, a Chief Regulatory Officer, a Secretary, and a Treasurer, and such other officers as the NSX Board may determine. 90 Any two or more offices may be held by the same person, except that the Chief Regulatory Officer and the Secretary may not be the CEO or the President. 91 The Chairman of the NSX Board, subject to approval of the NSX Board, may designate one or more officers or other employees of NSX to serve as an Arbitration Director, who would perform or delegate all ministerial duties in connection with matters submitted for arbitration pursuant to the rules of NSX. 92 90 *See* proposed NSX By-Laws, Section 6.1. 91 *See* proposed NSX By-Laws, Section 6.1. 92 *See* proposed NSX By-Laws, Section 6.6.
(vi)Self-Regulatory Function and Oversight Following the demutualization, NSX would continue to be registered as a national securities exchange under Section 6 of the Act and thus would continue to be an SRO. 93 As an SRO, NSX would be obligated to carry out its statutory responsibilities, including enforcing compliance by ETP Holders with the provisions of the Federal securities laws and the applicable rules of NSX. Further, it would retain the responsibility to administer and enforce the rules that govern NSX and the activities of its ETP Holders. In addition, it would continue to be required to file with the Commission, pursuant to Section 19(b) of the Act 94 and Rule 19b-4 thereunder, 95 any changes to its rules and governing documents. The structural protections adopted by NSX pursuant to the Order help to ensure that NSX's regulatory functions are independent from the commercial interests of NSX and its members would remain in effect following demutualization. 93 *See* 15 U.S.C. 78c(a)(26). 94 15 U.S.C. 78s(b). 95 17 CFR 240.19b-4. Like the proposed Holdings By-Laws, the proposed NSX By-Laws contain specific provisions relating to the self-regulatory function of NSX. 96 For example, the proposed NSX By-Laws require the NSX Board to consider applicable requirements under Section 6(b) of the Act in connection with the management of the Exchange. 97 In addition, meetings of the NSX Board and of the committees of NSX that pertain to the self-regulatory function of NSX must be closed to persons who are not members of the NSX Board or NSX officers, staff, counsel, or other advisors whose participation is necessary or appropriate to the self-regulatory function of NSX, or representatives of the Commission. 98 96 *See* proposed NSX By-Laws, Article X. 97 *See* proposed NSX By-Laws, Section 10.1. Section 6(b) of the Act requires, among other things, that the Exchange's rules be designed to protect investors and the public interest. It also requires that the Exchange be so organized that it has the capacity to carry out the purposes of the Act and to enforce compliance by its members with the Act, the rules and regulations promulgated thereunder, and the rules of the Exchange. 98 See proposed NSX By-Laws, Section 10.2. In addition, members of the Holdings Board who are also not members of the NSX Board and any officers, staff, counsel, or advisors of Holdings who do not hold similar positions with respect to NSX would not be allowed to participate in any meeting of the NSX Board (or any committee of NSX) that pertains to the self-regulatory function of NSX. These requirements and the requirements relating to the confidentiality of records are not, however, designed to prevent the Exchange from sharing with Holdings the type of information about the Exchange's business that would ordinarily be shared with a parent corporation, including information relating to the Exchange's compliance with applicable laws, reports from the Commission or others evaluating the Exchange's self-regulatory programs, and information about the trading activities and business strategies of the Exchange's ETP Holders. Further, the NSX books and records reflecting confidential information relating to the self-regulatory function of NSX must be kept confidential, must not be used for non-regulatory purposes, and must not be made available to any person other than those directors, officers, and agents of NSX to the extent necessary or appropriate to properly discharge NSX's self-regulatory responsibilities, and the books and records of NSX must be maintained in the U.S. 99 The proposed NSX By-Laws also provide that any revenues received by NSX from fees derived from its regulatory function or regulatory penalties must be applied to fund the legal and regulatory operations of NSX or to pay restitution and disgorgement of funds intended for NSX customers, and may not be used to pay dividends. 100 99 *See* proposed NSX By-Laws, Sections 10.3. 100 *See* proposed NSX By-Laws, Section 10.4.
(vii)Restrictions on Ownership and Transfer Although there are no percentage-based restrictions on the ownership of NSX, the proposed NSX Certificate of Incorporation confirms that Holdings will own all of the voting stock of NSX at all times. 101 101 *See* proposed NSX Certificate of Incorporation, Article Fourth.
(viii)Changes to Certificate of Incorporation and By-Laws Under the proposed NSX Certificate of Incorporation, any change to that document must first be approved by the NSX Board and, if required to be approved or filed with the Commission before it may become effective, cannot take effect until the procedures of the Commission necessary to make it effective have been satisfied. 102 102 *See* proposed NSX Certificate of Incorporation, Article Eleventh. Similarly, under the proposed NSX By-Laws, any change to that document that is required to be approved by or filed with the Commission before it may become effective cannot take effect until the procedures of the Commission necessary to make it effective have been satisfied. 103 Changes to the NSX By-Laws as proposed may be made by either the stockholders of NSX or the NSX Board, except that certain provisions relating to the NSX Board, and to the voting of NSX stockholders may not be changed without the approval of the stockholder of NSX. 104 103 *See* proposed NSX Certificate of Incorporation, Article Seventh. 104 *See* proposed NSX Certificate of Incorporation, Article Seventh and proposed NSX By-Laws, Section 8.1. In addition, Sections 3.1(b) and 8.2 of the proposed NSX By-Laws permit the NSX Board to amend, repeal, and adopt new Rules of the Exchange.
(c)Other Provisions in the Certificates of Incorporation and By-Laws The proposed Holdings By-Laws, Holdings Certificate of Incorporation, NSX Certificate of Incorporation, and NSX By-Laws contain other customary provisions of for-profit corporations, such as provisions relating to corporate offices and corporate purposes; 105 director meetings, voting, removal, compensation and limitation of liability; 106 indemnification of, and insurance for, directors, officers, employees and agents, and advancement of expenses related to defending certain actions; 107 stock certificate procedures; 108 stockholder ownership, including provisions relating to the timing and conduct of meetings, record dates, quorum requirements, proxies, and other matters; 109 and other general provisions. 110 105 *See* proposed NSX Certificate of Incorporation, Articles Second and Third, and proposed NSX By-Laws, Article II; *see* proposed Holdings Certificate of Incorporation, Articles Second and Third, and proposed Holdings By-Laws, Article I. 106 *See* proposed NSX Certificate of Incorporation, Articles Fifth and Eighth, and proposed NSX By-Laws, Article III and Section 7.1; *see* proposed Holdings Certificate of Incorporation, Articles Sixth and Ninth, and proposed Holdings By-Laws, Article II and Section 7.1. 107 *See* proposed NSX By-Laws, Article VII, and proposed Holdings By-Laws, Article VII. In addition, under these provisions, neither corporation is liable for any loss or damage sustained by a current or former member of NSX or ETP Holder relating to such person's use of the facilities of the Exchange or its subsidiaries. 108 *See* proposed NSX By-Laws, Article IX, and proposed Holdings By-Laws, Article IX. 109 *See* proposed NSX Certificate of Incorporation, Article Ninth, and proposed NSX By-Laws, Article IV; *See* proposed Holdings Certificate of Incorporation, Article Tenth, and proposed Holdings By-Laws, Article IV. 110 *See* , *for example* , proposed NSX Certificate of Incorporation, Article Tenth, and proposed NSX By-Laws, Article XI; *See* , *e.g.* , proposed Holdings Certificate of Incorporation, Article Eleventh, and proposed Holdings By-Laws, Article X.
(2)National Market System Plans NSX currently is a participant in various National Market System (“NMS”) plans, including, but not limited to, the Consolidated Tape Association Plan, the Consolidated Quotation System Plan, the Intermarket Trading System Plan, the Intermarket Surveillance Group, and the Reporting Plan for Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privileges Basis (“Nasdaq UTP”) Plan. These plans are joint industry plans entered into by SROs for the purpose of addressing last sale reporting, quotation reporting, and intermarket equities trading. Following the completion of the demutualization, NSX, in its continuing role as the SRO, would continue to serve as the voting member of these NMS plans, and a representative of NSX would continue to serve as the Exchange's representative with respect to dealing with these plans.
(3)Equity Trading Permits; Administrative Changes The proposed rule change includes proposed changes to the Rules of the Exchange that are necessary to implement the proposed ETP structure. Following NSX's demutualization, persons and firms who have been qualified for membership pursuant to the Exchange's current Rules and By-Laws and, as a result, have access to the Exchange's trading facilities would receive ETPs entitling them to maintain their trading access to NSX and would be referred to as ETP Holders. References to “members,” “member organizations,” and similar terms in the current Rules of the Exchange would be replaced with references to “ETP Holders” and similar terms in the NSX Rules. Each ETP would constitute a revocable license allowing the holder of the permit access to the Exchange's trading facilities in the same manner as previously authorized for NSX's qualified trading members. 111 The demutualization and the implementation of the use of ETPs would not change current NSX member access to the Exchange or their ability to execute transactions. Persons holding ETPs of NSX would be “members” of the Exchange for purposes of the Act and, as noted above, would be characterized as ETP Holders subject to NSX's regulatory jurisdiction. 112 ETP Holders would not have any ownership interest in NSX or in Holdings by virtue of their ETPs. 111 *See* proposed NSX Rules, Chapter II, Rules 2.1 and 2.2, and proposed NSX Rules, Chapter I, Rule 1.5 (definition of “ETP”). 112 *See* proposed NSX Rules, Chapter I, Rule 1.5 (definition of “ETP Holder”). Provisions of the current By-Laws of NSX relating to members would be moved to a single chapter in the NSX Rules regarding ETP Holders, with certain changes based upon the fact that ETP Holders would be subject to different application processes and would not have to purchase and own a certificate of proprietary membership. 113 Following the demutualization, the Exchange would require persons seeking ETPs to complete appropriate application materials and registration forms, satisfy regulatory requirements, and pay processing charges and application fees as designated by the Exchange. Unlike NSX's current membership application process, ETP Holders would not be required to be approved by NSX's Membership Committee, ETP Holders would be subject to the financial responsibility requirements of Rule 15c3-1 under the Act (but would not be subject to a separate net capital requirement), and ETP applicants would not need to purchase shares of either NSX or Holdings. 114 113 Currently, applicants for membership are required to purchase and own a certificate of proprietary membership in order to become a member of NSX. *See* Article II, Section 5.2 of the current By-Laws of NSX. In connection with the demutualization, all outstanding certificates of proprietary membership would be cancelled and no other certificates of proprietary membership would be issued by NSX following the demutualization. 114 *See* proposed NSX Rules, Chapter II. Once issued, an ETP would be effective until voluntarily terminated by the ETP Holder or until revoked by NSX for, among other things, noncompliance with the NSX Rules. 115 NSX would have the ability to revoke an ETP for the same reasons that it is currently entitled to revoke a membership. 116 An ETP could not be sold, leased, or otherwise transferred. 117 There would be nominal processing charges and application fees relating to the issuance of ETPs. In addition, ETP Holders would be subject to such fees as are designated by NSX or set forth in the NSX Rules. 118 115 *See* proposed NSX Rules, Chapter II, Rules 2.6 and 2.7. 116 *See* proposed NSX Rules, Chapter II, Rule 2.6. 117 *See* proposed NSX Rules, Chapter II, Rule 2.8. 118 *See* , *generally* proposed NSX Rules, Chapter XI, Rule 11.10(B). Certain other provisions of the current By-Laws of NSX respecting listing standards and other matters not relating to the Exchange's corporate governance would be moved to the NSX Rules. The provisions contained in Article IV of the current By-Laws of NSX (relating to Securities Listed on the Exchange) would be moved to a new Chapter XV of the NSX Rules. In addition, current Rules 13.6 and 13.7 (relating to Listing Standards) would be moved to this new Chapter XV of the NSX Rules. 119 119 In addition, NSX also proposes to move to the NSX Rules, and make technical changes to, certain provisions under the current By-Laws of NSX relating to Exchange Membership (Article II), Dues, Assessments and Other Charges (Article III), Securities Listed on the Exchange (Article IV), Commissions (Article XI) and Off-Exchange Transactions (Article XII). Finally, new NSX Rule 2.10 would prohibit, without prior Commission approval, either
(i)NSX or any NSX affiliate from directly or indirectly acquiring or maintaining an ownership interest in an ETP Holder, or
(ii)an ETP Holder being or becoming an affiliate of NSX or any affiliate of NSX. Under proposed Rule 2.10, the term “affiliate” has the meaning specified in Rule 12b-2 of the Act. Proposed Rule 2.10 would not prohibit any ETP Holder or its affiliate from acquiring or holding an equity interest in Holdings that is permitted by the ownership and voting limitations in the Holdings Certificate of Incorporation, and would not prohibit an ETP Holder or an officer, director, manager, managing member, partner, or affiliate of an ETP Holder being or becoming an ETP Holder Director or an At-Large Director on the NSX Board, or a member of the Holdings Board. 120 120 *See* Amendment No. 1, *supra* note 3. III. Summary of Comments The Council of Institutional Investors (“CII”) wrote to express its concern over the potential conflict of interest that could arise when an exchange is responsible for regulating its members and at the same time operating as a for-profit entity. The CII believes that this conflict of interest is “untenable” and has created problems in the past and will continue to create problems in the future. 121 To address this conflict, the CII recommends that:
(1)Regulatory operations of NSX should be made independent of the Exchange and adequately funded; and
(2)listing standard requirements should be made a regulatory responsibility rather than the responsibility of the Exchange. 122 121 *See* CII Letter, *supra* note 6. 122 CII Letter at 1. NSX responded to the CII comment letter on June 5, 2006. 123 The Exchange asserted that the two concerns raised by CII have already been addressed by the Exchange prior to the filing of this proposed rule change. The NSX noted that it created a Regulatory Oversight Committee (“ROC”) that is charged with overseeing all regulatory functions and responsibilities, including recommending an adequate operating budget for the Exchange's regulatory functions. The Exchange also created the position of Chief Regulatory Officer who reports directly to the ROC and not the Chief Executive Officer. This structure separates the regulatory operations from the Exchange. NSX stated that this structure assured that listing standard requirements are a regulatory rather than an Exchange responsibility as they are the function of the Regulatory Services Division. 123 *See* NSX Response, *supra* note 7. IV. Discussion After careful review, the Commission finds that the proposed rule change, as amended, is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange. 124 In particular, the Commission finds that the proposed rule change, as amended, is consistent with Section 6(b)(1) of the Act, 125 which requires a national securities exchange to be so organized and have the capacity to carry out the purposes of the Act and to enforce compliance by its members and persons associated with its members with the provisions of the Act. The Commission also finds that the proposed rule change, as amended, is consistent with Section 6(b)(3) of the Act, 126 which requires that the rules of a national securities exchange assure the fair representation of its members in the selection of its directors and administration of its affairs, and provide that one or more directors shall be representative of issuers and investors and not be associated with a member of the exchange, broker, or dealer. Further, the Commission finds that the proposed rule change, as amended, is consistent with Section 6(b)(5) of the Act, 127 in that it is designed, among other things, to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. 124 In approving this proposed rule change, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 125 15 U.S.C. 78f(b)(1). 126 15 U.S.C. 78f(b)(3). 127 15 U.S.C. 78f(b)(5). A. Holdings as Sole Shareholder Following completion of the demutualization, Holdings would be the sole shareholder of NSX. Section 19(b) of the Act 128 and Rule 19b-4 thereunder 129 require an SRO to file proposed rule changes with the Commission. Although Holdings is not an SRO, certain provisions of its Certificate of Incorporation and By-Laws may be rules of an exchange 130 if they are the stated policies, practices, or interpretations, as defined in Rule 19b-4 of the Act, of NSX. Any proposed rule or any proposed change in, addition to, or deletion from, the rules of an exchange must be filed with the Commission pursuant to Section 19(b) of the Act and Rule 19b-4 thereunder. Accordingly, NSX has filed the Holdings Certificate of Incorporation Holdings By-Laws with the Commission. If Holdings decides to change its Certificate of Incorporation or By-Laws, it must submit such changes to the NSX Board so that it can determine if the changes must be filed with, and approved by, the Commission. 131 The Commission believes that these provisions would assist NSX in fulfilling its self-regulatory obligations and in administrating and complying with the requirements under the Act. 128 15 U.S.C. 78s(b). 129 17 CFR 240.19b-4. 130 Section 3(a)(27) of the Act defines the rules of an exchange to be the constitution, articles of incorporation, By-Laws, and rules, or instruments corresponding to the foregoing, of an exchange, and such stated policies, practices, or interpretations of such exchange as the Commission, by rule, may determine to be necessary or appropriate in the public interest or for the protection of investors to be deemed to be rules of such exchange. 15 U.S.C. 78c(a)(27). 131 *See* proposed Holdings Certificate of Incorporation, Article Twelfth and Holdings By-Laws Article VIII. B. Changes in Control of NSX The Commission believes that the restrictions in the Holdings Certificate of Incorporation on direct and indirect changes in control of Holdings are sufficient to enable NSX to carry out its self-regulatory responsibilities and to enable the Commission to fulfill its responsibilities under the Act. 132 132 The Commission notes that it is in the process of reviewing issues related to new ownership structures of SROs and has proposed rules relating to the ownership of SROs, including limiting the restrictions on ownership and voting to members of an SRO or a facility of an SRO. *See* Securities Exchange Act Release No. 50699 (November 18, 2004), 69 FR 71126 (December 8, 2004) (“Proposed Rulemaking”). *See also* Securities Exchange Act Release No. 51019 (January 11, 2005), 70 FR 2829 (January 18, 2005) (extending the comment period for the Proposed Rulemaking until March 8, 2005). Specifically, as proposed, NSX would be wholly-owned subsidiary of Holdings, *i.e.* , Holdings would own all of the shares of NSX. The NSX Certificate of Incorporation identifies this ownership structure. 133 Any changes to the NSX Certificate of Incorporation, including any change to the provision that identifies NSX shareholders, must be filed with, and approved by, the Commission pursuant to Section 19(b) of the Act. 134 133 *See* proposed NSX Certificate of Incorporation, Article Fourth. 134 15 U.S.C. 78s(b); *see* proposed NSX Certificate of Incorporation, Article Eleventh. In addition, the Holdings Certificate of Incorporation imposes limitations on direct and indirect changes in control of Holdings through voting and ownership limitations placed on the capital stock of Holdings and allows Holdings to monitor potential changes in control through a notification requirement once a threshold percentage of ownership of capital stock is reached. 135 Specifically, the Holdings Certificate of Incorporation prohibits any Person, either alone or together with its Related Persons, from voting or giving a proxy or consent with respect to shares representing more than 20% of the voting power of the issued and outstanding capital stock of Holdings. 136 This restriction would not apply to the Class B or Class C common stock and, as to the Class A common stock owned by Persons other than ETP Holders and their Related Persons, may be waived by Holdings Board pursuant to a resolution adopted by the Holdings Board. 137 Before adopting such resolution, however, the Holdings Board must determine that, among other things, the waiver of the voting limitation would not impair the ability of NSX to carry out its functions and responsibilities under the Act and the rules and regulations promulgated thereunder, and would not impair the Commission's ability to enforce the Act and the rules and regulations promulgated thereunder. 138 In addition, the Holdings Board also must determine that a Person and its Related Persons that would vote more than 20% of the outstanding stock of Holdings are not subject to an applicable “statutory disqualification” (within the meaning of Section 3(a)(39) of the Act). 139 Finally, any resolution of the Holdings Board that would permit a Person to vote more than 20% of the outstanding stock of Holdings must be filed with and approved by the Commission before it becomes effective. 140 135 The proposed Holdings Certificate of Incorporation requires that any person, either alone or together with its affiliates or associates or any other person, who at any time owns five percent or more of then outstanding shares of capital stock and who has the right to vote in the election of the NSX Holdings Board, shall, immediately upon so owning five percent or more of the then outstanding shares of such stock, give the NSX Holdings Board a written notice of such ownership and update that notice promptly after an ownership change of a specified percentage. *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (c). 136 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(ii)(C); *see also* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph
(a)for definitions of “Person” and “Related Person.” 137 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraphs (b)(iii)(A) and (B). *See* Amendment No. 1, *supra* note 3. 138 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iii)(B). 139 15 U.S.C. 78c(a)(39); *see* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iv). 140 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iii)(B). Furthermore, the Holdings Certificate of Incorporation limits the right of any Person, either alone or together with its Related Persons, to enter into any agreement with respect to the withholding of any vote or proxy where the effect of the agreement would be to enable any person or group to obtain more than 20% of the outstanding voting power. 141 The Holdings Certificate of Incorporation also restricts the ability of any Person, either alone or together with its Related Persons, from owning, directly or indirectly, shares constituting more than 40% of any class of the outstanding shares of capital stock of Holdings. 142 141 *See* proposed NSX Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(ii)(C). 142 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(ii)(A). If any shareholder votes, sells, transfers, assigns, or pledges any shares in violation of the voting and ownership limitations, Holdings would treat those shares as owned by the transferor for all purposes, including, without limitation, voting, payment of dividends, and distributions. 143 In addition, if any shareholder votes, sells, transfers, assigns, or pledges any shares in violation of the voting and ownership limitations, Holdings has the right to redeem those shares at a price equal to the par value thereof, upon the approval of the Holdings Board. 144 143 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (d). 144 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (e). NSX has also proposed to require Holdings shareholders that own, of record or beneficially, five percent or more of the then outstanding shares to give the Holdings Board written notice of such ownership. This notice should enable Holdings to monitor the ownership of its stock to ensure that no limitation is reached. 145 145 The Commission believes that NSX Holdings should disclose periodically, or otherwise make available upon request, information regarding the number of outstanding shares of its capital stock, so that persons that own stock of Holdings can determine whether they are reaching or have reached any of the thresholds that restrict that person's ability to vote or own the shares or require that person to provide written notice under the Article Fifth, paragraph
(c)of the Holdings Certificate of Incorporation. The Holdings Certificate of Incorporation also provides that no Person, either alone or together with its Related Persons, who is a ETP Holder may own, directly or indirectly, shares constituting more than 20% of any class of capital stock of Holdings. 146 However, this ownership restriction would not apply to any ETP Holder with respect to shares of Class C common stock of Holdings (which is not entitled to the right to vote) issued to the ETP Holder in connection with, and from the date of, the demutualization of NSX so long as the ETP Holder becomes compliant with the ownership limitation promptly after such issuance. 147 146 *See* proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(ii)(B). Unlike the 40% ownership and 20% voting limitations discussed above, the NSX Holdings Board may not waive the 20% ownership limitation applicable to NSX trading permit holders. 147 *See* proposed proposed Holdings Certificate of Incorporation, Article Fifth, paragraph (b)(iii)(C). *See* Amendment No. 1, *supra* note 3. The Commission finds that the limitation on ownership of shares of Holdings by NSX ETP Holders is consistent with the Act. Under the member-owned exchange model, a member who trades securities through the facilities of an exchange can have an ownership interest in the exchange. A regulatory concern can arise if a member's interest becomes so large as to cast doubt on whether the exchange can fairly and objectively exercise its self-regulatory responsibilities with respect to that member. For example, a member that directly or indirectly controls an exchange might be tempted to exercise that controlling influence by directing the exchange to refrain from diligently monitoring the member's conduct or from punishing any conduct that violates the rules of the exchange or the federal securities laws. An exchange also might be reluctant to diligently monitor and conduct surveillance of trading conduct and to enforce its rules and the federal securities laws against a member that the exchange relies on for a large source of capital. The Commission believes that the proposed limitation would help mitigate the conflicts of interest that could occur if a member were to control a significant stake in the Exchange through ownership in shares in the Exchange's parent company and are necessary and appropriate to help ensure that the Exchange can effectively carry out its statutory obligations under Section 6(b) of the Act. 148 148 15 U.S.C. 78f(b). C. Regulatory Jurisdiction Over Holdings The Commission believes that the terms of Holdings By-Laws provide the Commission with sufficient regulatory jurisdiction over the controlling parties of the Exchange to carry out its oversight responsibilities under the Act. The Holdings By-Laws provide that, to the extent that they are related to the activities of NSX, the books, records, premises, officers, directors, agents, and employees of Holdings are deemed to be the books, records, premises, officers, directors, agents, and employees of NSX for purposes of and subject to oversight pursuant to the Act. 149 This provision would enable the Commission to exercise its authority under Section 19(h)(4) of the Act 150 with respect to officers and directors of Holdings, because all such officers and directors, to the extent that they are acting on matters related to NSX activities, would be deemed to be officers and directors of NSX. Furthermore, the books and records of Holdings, to the extent that they are related to the activities of NSX, are subject to the Commission's examination authority under Section 17(b)(1) of the Act, 151 as these records would be deemed to be the records of NSX itself. 149 *See* proposed Holdings By-Laws, Article III, Section 3.3. 150 15 U.S.C. 78s(h)(4). Section 19(h)(4) authorizes the Commission, by order, to remove from office or censure any officer or director of a national securities exchange if it finds, after notice and an opportunity for hearing, that such officer or director:
(1)has willfully violated any provision of the Act or the rules and regulations thereunder, or the rules of a national securities exchange;
(2)willfully abused his or her authority; or
(3)without reasonable justification or excuse, has failed to enforce compliance with any such provision by a member or person associated with a member of the national securities exchange. 151 15 U.S.C. 78q(b)(1). In addition, pursuant to the Holdings By-Laws, Holdings officers, directors, employees, and agents, by virtue of their acceptance of such position, are deemed to irrevocably submit to the jurisdiction of the U.S. Federal courts, the Commission, and NSX for the purposes of any suit, action, or proceeding pursuant to the U.S. federal securities laws and the rules and regulations thereunder, arising out of, or relating to, the activities of the Exchange. 152 Moreover, Holdings and such officers, directors, employees, and agents, by virtue of their acceptance of any such position, are deemed to waive and agree not to assert by way of motion as a defense or otherwise in any such suit, action, or proceeding any claims that it or they are not personally subject to the jurisdiction of the U.S. Federal courts, the Commission, or NSX, that the suit, action, or proceeding is an inconvenient forum, or that the venue of the suit, action, or proceeding is improper, or that the subject matter of that suit, action, or proceeding may not be enforced in or by such courts or agency. 153 Finally, the Holdings By-Laws provide that the officers, directors, employees, and agents of Holdings, by virtue of their acceptance of such position, are deemed to agree to cooperate with the Commission and NSX in respect of the Commission's oversight responsibilities regarding NSX and the self-regulatory functions and responsibilities of NSX. 154 152 *See* proposed NSX Holdings By-Laws, Article III, Section 3.5. 153 *See* proposed NSX Holdings By-Laws, Article III, Section 3.5. 154 *See* proposed NSX Holdings By-Laws, Article III, Section 3.4. The Commission also notes that, even in the absence of these provisions of the Holdings By-Laws, Section 20(a) of the Act 155 provides that any person with a controlling interest in NSX would be jointly and severally liable with and to the same extent that NSX is liable under any provision of the Act, unless the controlling person acted in good faith and did not directly or indirectly induce the act or acts constituting the violation or cause of action. In addition, Section 20(e) of the Act 156 creates aiding and abetting liability for any person who knowingly provides substantial assistance to another person in violation of any provision of the Act or rule thereunder, and Section 21C of the Act 157 authorizes the Commission to enter a cease-and-desist order against any person who has been “a cause of” a violation of any provision of the Act through an act or omission that the person knew or should have known would contribute to the violation. The Commission believes that, taken together, these provisions grant the Commission sufficient jurisdictional authority over the controlling persons of NSX. Moreover, NSX is required to enforce compliance with these provisions because they are “rules of the exchange” within the meaning of Section 3(a)(27) of the Act. 158 A failure on the part of NSX to enforce its rules could result in suspension or revocation of NSX's registration under Section 19(h)(1) of the Act. 159 155 15 U.S.C. 78t(a). 156 15 U.S.C. 78t(e). 157 15 U.S.C. 78u-3. 158 15 U.S.C. 78c(a)(27). 159 15 U.S.C. 78s(h)(1). D. Self-Regulatory Function of NSX Following the demutualization, the rules and By-Laws of NSX would reflect its status as a wholly-owned subsidiary of Holdings, under management of the NSX Board and its designated officers and with self-regulatory obligations pursuant to NSX's registration as a national securities exchange under Section 6 of the Act. 160 160 *See* 15 U.S.C. 78c(a)(26). As the sole shareholder of NSX, the Commission believes that Holdings' activities with respect to its ownership of NSX must be consistent with NSX's obligations under the Act. The Commission recognizes that the ownership structure of for-profit exchanges could present potential conflicts of interest. 161 However, the Commission believes that NSX has taken steps to address this conflict. 162 Under the Holdings By-Laws, the Holdings Board and the officers, employees, and agents of Holdings must give due regard to the preservation of the independence of the self-regulatory function of NSX and to its obligations to investors and the general public and not take any actions that would interfere with the effectuation of any decisions by the NSX Board relating to its regulatory functions or the structure of the market it regulates or which would interfere with the ability of NSX to carry out its responsibilities under the Act. 163 In addition, all books and records of NSX reflecting confidential information pertaining to its self-regulatory function (including but not limited to disciplinary matters, trading data, trading practices, and audit information) which come into the possession of Holdings, and the information contained therein, must be retained in confidence by Holdings and its directors, officers, employees, and agents and must not be used for any non-regulatory purposes. 164 The Commission believes that these provisions, which are designed to acknowledge the need to maintain the independence of the self-regulatory role of NSX following the demutualization and protect from improper use information pertaining to its self-regulatory function, are appropriate. 161 *See* CII Letter. *See also supra* note 132. 162 *See also supra* , note 132. 163 *See* proposed NSX Holdings By-Laws, Article III, Section 3.1. 164 *See* proposed NSX Holdings By-Laws, Article III, Section 3.2. Further, the Commission notes that the NSX By-Laws expressly require that the NSX Board consider applicable requirements for registration as a national securities exchange under Section 6(b) of the Act, 165 including the requirement that the rules of the Exchange be designed to protect investors and the public interest and the requirement that the Exchange be so organized and have the capacity to carry out the purposes of the Act and to enforce compliance by its members and persons associated with members with the provisions of the Act, the rules and regulations thereunder and with the rules of the Exchange. 166 In the Commission's view, this provision should serve to remind the NSX Board that it must consider the interests of the Exchange's constituents and the requirements of the Act when taking action on behalf of the Exchange. 165 15 U.S.C. 78f(b). 166 *See* proposed NSX By-Laws, Article X, Section 3.1. E. Fair Representation Section 6(b)(3) of the Act 167 requires that the rules of an exchange assure fair representation of its members in the selection of its directors and administration of its affairs and provide that one or more directors be representative of issuers and investors and not be associated with a member of the exchange or with a broker or dealer. In addition, Section 6(b)(1) of the Act 168 requires that an exchange be so organized and have the capacity to be able to carry out the purposes of the Act. 167 15 U.S.C. 78f(b)(3). 168 15 U.S.C. 78f(b)(1). After the demutualization, the NSX Board would initially consist of 13 directors. The NSX Board would be initially comprised of the CEO of NSX, 3 ETP Holder Directors, 169 7 Independent Directors, 170 and 2 directors who are executive officers of CBOE, its members, 171 or executive officers of CBOE member organizations. 172 Under the proposed rule change, the NSX Board may by resolution increase its size to up to 20 directors. Directors added to the NSX Board to fill these new director positions would be
(i)Independent Directors, to the extent necessary for the NSX Board to include at least 50% Independent Directors;
(ii)ETP Holder Directors, to the extent necessary for the NSX Board to include at least 20% ETP Holder Directors; and
(iii)persons who do not qualify as Independent Directors (“At-Large Directors”), for the remainder of the positions added to the NSX Board that are not filled with Independent Directors or ETP Holder Directors pursuant to clauses
(i)and
(ii)above. At all times, the NSX Board must include the CEO of NSX, at least 50% Independent Directors and 3 ETP Holder Directors (or such greater number of ETP Holder Directors as is necessary to comprise at least 20% of the NSX Board). 173 169 An ETP Holder Director is defined under the proposed NSX By-Laws as a director who is an ETP Holder or a director, officer, managing member or partner of an entity that is an ETP Holder. *See* proposed NSX By-Laws, Section 1.1(E)(2). 170 An Independent Director is defined under the proposed NSX By-Laws as a member of the NSX Board that the NSX Board has determined to have no material relationship with NSX or any affiliate of NSX, or any ETP Holder or any affiliate of any such ETP Holder, other than as a member of the NSX Board. *See* proposed NSX By-Laws, Section 1.1(I)(1). The Commission notes that NSX has stated that at least one Independent Director will be representative of investors; *see* Amendment No. 1, *supra* note 3. 171 A CBOE member is defined under the proposed NSX By-Laws as an individual CBOE member or a CBOE member organization that is a regular member or special member of CBOE (as such terms are described in the Constitution of the CBOE), as such CBOE members may exist from time to time. *See* proposed NSX By-Laws, Section 1.1(C)(2). *See also supra* subsection II.b.(1)(b)(ii) for a discussion of CBOE's equity interest in the Exchange. 172 *See* proposed NSX By-Laws, Section 3.2(a). *See also supra* note 20. 173 *See* proposed NSX By-Laws, Section 3.2(b); *see* Amendment No. 1, *supra* note 3. Because NSX ETP Holders would not be shareholders of NSX, they would not directly elect members of the NSX Board. As the sole shareholder of NSX, Holdings would have the sole right and obligation to vote for the director nominees nominated by the NSX Governance and Nominating Committee. The NSX By-Laws, however, establish a procedure that would allow ETP Holders to be involved in the selection of candidates to fill ETP Director positions on the NSX Board. 174 Each participant would have one vote per trading permit with respect to each Participant Director position to be filled. 175 174 *See* proposed NSX By-Laws, Section 3.5; *see* discussion of nominating process in Discussion section *supra.* 175 Under Section 3.5(e) of the proposed NSX By-Laws, each ETP Holder, regardless of its affiliation with other ETP Holders, will have one vote with respect to each ETP Holder Director position to be filled, but may not cast such votes cumulatively. The ETP Holder Director Nominating Committee, comprised entirely of ETP Holders Directors and/or ETP Holder representatives would consult with the Governance and Nominating Committee, the Chairman of the Board and the Chief Executive Officer, and solicit comments from the ETP Holders and submit a list of candidates for election to the position of ETP Holder Director to the Governance and Nominating Committee. ETP Holder may petition in a timely manner to add additional nominees provided that the petition is signed by 10 or more percent of all ETP Holders. The ETP Holder Director candidates receiving the most votes from ETP Holders shall be the directors elected to the NSX Board as ETP Directors by NSX Holdings. If no timely petitions are received, the slate of candidates put forth by the ETP Holder Director Nominating Committee shall be the ETP Directors elected to the NSX Board by NSX Holdings. 176 176 *See* proposed NSX By-Laws, Sections 3.5 and 5.1. The Commission finds that the requirement that at least one-half of the directors of the NSX Board be Independent Directors is consistent with Sections 6(b)(1) and 6(b)(3) of the Act, which requires that one or more directors be representative of issuers and investors. The Commission also finds that the requirement that at least 20% of the directors be ETP Directors and the manner in which such directors would be nominated and elected, satisfies the fair representation requirements in Section 6(b)(3) of the Act. The Commission notes, however, that after the demutualization trading privileges would be separated from corporate ownership of NSX and would be available exclusively through trading permits. Therefore, the Commission expects that trading permits would not be issued in a manner that would undermine or circumvent the requirement in Section 6(b)(3) of the Act for fair representation of members. The Commission also notes that participants would retain a voice in the administration of the affairs of NSX following the demutualization, including rulemaking and the disciplinary process, through participants' participation on the NSX Board. Finally, the Commission notes that it is in the process of reviewing a range of governance issues relating to SROs, including possible steps to strengthen the framework for the governance of SROs and ways to improve the transparency of the governance procedures of all SROs and has proposed rules in furtherance of this goal. 177 Depending on the results of the proposed rules, NSX may be required to make further changes to strengthen its governance structure. The Commission also believes that the NSX Board should continue to monitor and evaluate its governance structure and process on an ongoing basis and propose further changes as appropriate. 177 *See* Proposed Rulemaking, *supra* note 134. F. Dividends With the demutualization, the holders of capital stock of NSX, in this case Holdings, would have the dividend and other distribution rights of a shareholder in a Delaware stock corporation. The NSX By-Laws allow the NSX Board to declare dividends. 178 However, the NSX By-Laws further provide that any revenues received by NSX from regulatory fees or regulatory penalties would be applied to fund the legal and regulatory operations, including the surveillance and enforcement activities, of NSX and would not be used to pay dividends. 179 This limitation would preclude NSX from providing dividends derived from regulatory fees or penalties to the sole shareholder of NSX, *i.e.* , Holdings. As a result, Holdings would not be able to provide dividends derived from regulatory fees or penalties belonging to NSX to the shareholders of Holdings. The Commission finds that the prohibition on the use of regulatory fees or penalties to fund dividends is consistent with Section 6(b)(1) of the Act because it would ensure that the regulatory authority of NSX is not used improperly to benefit Holdings and its shareholders. 178 *See* proposed NSX By-Laws, Section 11.2. 179 For purposes of this provision, regulatory penalties include restitution and disgorgement of funds intended for customers. *See* proposed NSX By-Laws, Section 10.4. G. Other Changes Following the demutualization, NSX would continue to serve as a voting member of various NMS plans addressing last sale reporting, quotation reporting, and intermarket equities trading. In addition, following the demutualization, NSX will put into effect certain rule changes necessary to implement its proposed ETP structure, including referring to persons and firms who are currently qualified for Exchange membership under its current Rules and By-Laws as ETP Holders, entitling them to maintain their trading access to the Exchange; corresponding changes to references in the Exchange's Rules to “members,” “member organizations,” and similar terms would also be made. ETP Holders would have revocable licenses allowing them to access the Exchange's trading facilities in the same manner currently authorized for qualified trading members. In addition, ETP Holders would be “members” of the Exchange for purposes of the Act and would be subject to NSX's regulatory jurisdiction and oversight. However, ETP Holders would not have any ownership interest in the Exchange or in Holdings by virtue of their ETPs. The Exchange would subject potential ETP Holders to an application process, and ETP Holders would be subject to the financial responsibility requirements of Rule 15c3-1 under the Act. ETPs would be effective until voluntarily terminated by the ETP Holder or until revoked by the Exchange. ETPs could not be sold, leased, or otherwise transferred. As part of the demutualization, the Exchange would move certain non-corporate governance-related provisions currently in the NSX By-Laws to the NSX Rules. Finally, new NSX Rule 2.10 would prohibit, without prior Commission approval, either
(i)NSX or any NSX affiliate from directly or indirectly acquiring or maintaining an ownership interest in an ETP Holder, or
(ii)an ETP Holder being or becoming an affiliate of NSX or any affiliate of NSX. The term “affiliate” would have the meaning specified in Rule 12b-2 of the Act. Proposed Rule 2.10 would not prohibit any ETP Holder or its affiliate from acquiring or holding an equity interest in Holdings that is permitted by the ownership and voting limitations in the Holdings Certificate of Incorporation, and would not prohibit an ETP Holder or an officer, director, manager, managing member, partner, or affiliate of an ETP Holder being or becoming an ETP Holder Director or an At-Large Director on the NSX Board, or a member of the Holdings Board. The Commission finds that these proposed rule changes are consistent with the requirements of the Acts and the rules and regulations thereunder. In particular, the Commission finds that the proposed rule changes relating to ETP Holders and their affiliates are consistent with Section 6(b)(1) of the Act, 180 which requires a national securities exchange to be so organized and have the capacity to carry out the purposes of the Act. 180 15 U.S.C. 78f(b)(1). V. Conclusion *It is therefore ordered* , pursuant to Section 19(b)(2) of the Act, 181 that the proposed rule change (SR-NSX-2006-03), as amended, is approved. 181 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 182 182 17 CFR 200.30-3(a)(12). J. Lynn Taylor, Assistant Secretary. [FR Doc. E6-9354 Filed 6-14-06; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-53958; File No. SR-NYSE-2006-34] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change To Delete an Obsolete Provision in Its Minor Rule Violation Plan June 8, 2006. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 thereunder, 2 notice is hereby given that on June 2, 2006, the New York Stock Exchange LLC (“NYSE” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons and approving the proposal on an accelerated basis. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange is proposing to amend NYSE Rule 476A (Imposition of Fines for Minor Violation(s) of Rules) to reflect the deletion of NYSE Rule 124(A). The text of the proposed rule change is available on the Exchange's Web site ( *http://www.nyse.com* ), at the Exchange's principal office, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange 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 III below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. *A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change* 1. Purpose NYSE Rule 124(A) prohibited unbundling of round-lot orders, failure to aggregate odd-lot orders into round-lot orders, the entry of both buy and sell odd-lot limit orders for the purpose of capturing the spread in the stock, and order entry practices intended to circumvent the round-lot market. NYSE Rule 124(A) is on the list of minor rule violations in NYSE Rule 476A. The Exchange previously removed NYSE Rule 124(A) from its rules. 3 The Exchange neglected to amend NYSE Rule 476A to reflect that change. This filing would correct that oversight by removing NYSE Rule 124(A) from the list of minor rule violations in NYSE Rule 476A. 3 *See* Securities Exchange Act Release No. 49745 (May 20, 2004), 69 FR 29998 (May 26, 2004) (SR-NYSE-2003-37). 2. Statutory Basis The Exchange believes that the basis under the Act for this proposed rule change is the requirement under Section 6(b)(5) of the Act 4 that an Exchange have rules that are designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanisms of a free and open market and a national market system, and, in general, to protect investors and the public interest. 4 15 U.S.C. 78f(b)(5). *B. Self-Regulatory Organization's Statement on Burden on Competition* The Exchange does not believe that the proposed rule change would impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. *C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others* The Exchange has neither solicited nor received written comments on the proposed rule change. III. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission's Internet comment form ( *http://www.sec.gov/rules/sro.shtml* ); or • Send an e-mail to *rule-comments@sec.gov* . Please include File Number SR-NYSE-2006-34 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSE-2006-34. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site ( *http://www.sec.gov/rules/sro.shtml* ). 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. Copies of such filing also will be available for inspection and copying at the principal office of the NYSE. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSE-2006-34 and should be submitted on or before July 6, 2006. IV. Commission's Findings and Order Granting Accelerated Approval of Proposed Rule Change The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange. 5 In particular, the Commission believes that the proposal is consistent with Section 6(b)(5) of the Act, 6 which requires that the rules of an exchange be designed to promote just and equitable principles of trade, to remove impediments and to perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. The Commission also believes that the proposal is consistent with Sections 6(b)(1) and 6(b)(6) of the Act 7 which require that the rules of an exchange enforce compliance with, and provide appropriate discipline for, violations of Commission and Exchange rules. 5 In approving this proposed rule change, the Commission notes that it has considered the proposed rule's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). 6 15 U.S.C. 78f(b)(5). 7 15 U.S.C. 78f(b)(1) and 78f(b)(6). Finally, the Commission finds that the proposal is consistent with the public interest, the protection of investors, or otherwise in furtherance of the purposes of the Act, as required by Rule 19d-1(c)(2) under the Act 8 which governs minor rule violation plans. The Commission believes that deleting an obsolete provision from the Exchange's minor rule violation plan is reasonable and consistent with the Act. 8 17 CFR 240.19d-1(c)(2). The Commission finds good cause, pursuant to Section 19(b)(2) of the Act, 9 for approving the proposed rule change prior to the thirtieth day after the date of publication of the notice of the filing thereof in the **Federal Register** . Because the proposal merely deletes an obsolete provision from the Exchange's rules, the Commission believes that a full notice-and-comment period is not necessary before approving it. 9 15 U.S.C. 78s(b)(2). V. Conclusion *It is therefore ordered* , pursuant to Section 19(b)(2) of the Act 10 and Rule 19d-1(c)(2) thereunder, 11 that the proposed rule change (SR-NYSE-2006-34) be, and hereby is, approved and declared effective. 10 15 U.S.C. 78s(b)(2). 11 17 CFR 240.19d-1(c)(2) For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 12 12 17 CFR 200.30-3(a)(12). J. Lynn Taylor, Assistant Secretary. [FR Doc. E6-9348 Filed 6-14-06; 8:45 am] BILLING CODE 8010-01-P SMALL BUSINESS ADMINISTRATION SBA Lender Risk Rating System AGENCY: U.S. Small Business Administration. ACTION: Notice of extension of comment period. SUMMARY: On May 1, 2006 SBA published a notice seeking comments on its proposed Lender Risk Rating System and notifying SBA Lenders (including 7(a) Lenders and Certified Development Companies) of the availability of risk rating information through SBA's Lender Portal. SBA is extending the comment period an additional 30 days to July 15, 2006. Given the significant level of interest the Notice has generated, SBA believes the affected parties would find it beneficial to have more time to review the proposal and prepare their comments. DATES: The comment period for the SBA Lender Risk Rating System Notice and Request for Comments published May 1, 2006 (71 FR 25624) is extended through July 15, 2006. ADDRESSES: Address all comments by mail, hand delivery, or courier to John M. White, Deputy Associate Administrator, Office of Lender Oversight, U.S. Small Business Administration, 409 Third Street, SW., Washington, DC 20416; or via facsimile to
(202)205-6831; or by e-mail to *proposedriskrating@sba.gov.* FOR FURTHER INFORMATION CONTACT: John M. White, Deputy Associate Administrator, at
(202)205-3049. (Authority: 15 U.S.C. 634) Dated: June 8, 2006. Michael W. Hager, Associate Deputy Administrator for the Office of Capital Access. [FR Doc. E6-9344 Filed 6-14-06; 8:45 am] BILLING CODE 8025-01-P DEPARTMENT OF STATE [Public Notice 5442] Shipping Coordinating Committee; Facilitation Committee; Notice of Meeting The Shipping Coordinating Committee
(SHC)will conduct an open meeting at 12:30 p.m. on Monday, June 26, 2006, in Room 1303 of the United States Coast Guard Headquarters building, 2100 Second Street SW., Washington, DC 20593-0001. The primary purpose of the meeting is to prepare for the thirty-third session of the Facilitation Committee (FAL 33) of the International Maritime Organization (IMO), to be held from July 3 to 7, 2006, at IMO Headquarters in London, England. The primary matters for discussion for FAL 33 will include the following: • General review and implementation of the Convention on Facilitation of International Maritime Traffic. • Consideration and adoption of proposed amendments to the Annex to the Convention. • Electronic means for the clearance of ships. • Application of the Committee's Guidelines. • Prevention and suppression of unlawful acts at sea or in port—Facilitation aspects. • Measure to enhance maritime security—Facilitation aspects. • Formalities connected with the arrival, stay and departure of persons. • Formalities connected with the arrival, stay and departure of ships. • Facilitation aspects of other IMO forms and certificates. • Ship/port interface. • Technical co-operation sub-programme for facilitation. Please note that hard copies of documents associated with FAL 33 will not be available at this meeting. Documents will be available in Adobe Acrobat format on CD-ROM. To request documents, please contact Mr. David Du Pont via e-mail at *DDuPont@comdt.uscg.mil* or write to the address provided below. Members of the public may attend this meeting up to the seating capacity of the room. Interested persons may seek information by writing to Mr. David Du Pont, Commandant (G-PSR), U.S. Coast Guard Headquarters, 2100 Second Street SW., Room 1400, Washington, DC 20593-0001 or by calling
(202)372-1497. Dated: June 9, 2006. Margaret Hayes, Director, Shipping Coordinating Committee, Department of State. [FR Doc. E6-9358 Filed 6-14-06; 8:45 am] BILLING CODE 4710-09-P DEPARTMENT OF STATE [Public Notice 5441] Determination Under Subsection 402(d)(1) of the Trade Act of 1974, As Amended—Continuation of Waiver Authority Pursuant to the authority vested in the President under the Trade Act of 1974, as amended, Public Law 93-618, 88 Stat. 1978 (hereinafter “the Act”), and assigned to the Secretary of State by virtue of section 1(a) of Executive Order 13346 of July 8, 2004, as well as the authority delegated to the Deputy Secretary of State by Delegation of Authority 245 of April 23, 2001, I determine, pursuant to section 402(d)(1) of the Act, 19 U.S.C. 2432(d)(1), that the further extension of the waiver authority granted by section 402 of the Act will substantially promote the objectives of section 402 of the Act. I further determine that continuation of the waiver applicable to Vietnam will substantially promote the objectives of section 402 of the Act. This determination shall be published in the **Federal Register** . Dated: June 2, 2006. Robert B. Zoellick, Deputy Secretary of State, Department of State. [FR Doc. E6-9310 Filed 6-14-06; 8:45 am] BILLING CODE 4710-30-P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Taxpayer Advocacy Panel Volunteer Income Tax Assistance
(VITA)Issue Committee AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice. SUMMARY: An open meeting of the Taxpayer Advocacy Panel VITA Issue Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Tuesday, July 11, 2006, at 3:30 p.m. Eastern Time. FOR FURTHER INFORMATION CONTACT: Barbara Toy at 1-888-912-1227, or
(414)231-2360. SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App.
(1988)that a meeting of the Taxpayer Advocacy Panel VITA Issue Committee will be held Tuesday, July 11, 2006, at 3:30, Eastern Time via a telephone conference call. You can submit written comments to the panel by faxing to
(414)231-2363, or by mail to Taxpayer Advocacy Panel, Stop 1006MIL, 211 West Wisconsin Avenue, Milwaukee, WI 53203-2221, or you can contact us at *http://www.improveirs.org* . Public comments will also be welcome during the meeting. Please contact Barbara Toy at 1-888-912-1227 or at
(414)231-2360 for additional information. The agenda will include the following: Process-Based Training. Dated: June 7, 2006. John Fay, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E6-9329 Filed 6-14-06; 8:45 am] BILLING CODE 4830-01-P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Taxpayer Assistance Center Committee of the Taxpayer Advocacy Panel AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice. SUMMARY: An open meeting of the Taxpayer Assistance Center Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel
(TAP)is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Tuesday, July 11, 2006. FOR FURTHER INFORMATION CONTACT: Dave Coffman at 1-888-912-1227, or 206-220-6096. SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App.
(1988)that an open meeting of the Taxpayer Assistance Center Committee of the Taxpayer Advocacy Panel will be held Tuesday, July 11, 2006 from 9 a.m. Pacific Time to 10:30 a.m. Pacific Time via a telephone conference call. If you would like to have the TAP consider a written statement, please call 1-888-912-1227 or 206-220-6096, or write to Dave Coffman, TAP Office, 915 2nd Avenue, MS W-406, Seattle, WA 98174 or you can contact us at *http://www.improveirs.org.* Due to limited conference lines, notification of intent to participate in the telephone conference call meeting must be made with Dave Coffman. Mr. Coffman can be reached at 1-888-912-1227 or 206-220-6096. The agenda will include the following: Various IRS issues. Dated: June 7, 2006. John Fay, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E6-9330 Filed 6-14-06; 8:45 am] BILLING CODE 4830-01-P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Area 5 Taxpayer Advocacy Panel (Including the States of Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma, and Texas) AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice. SUMMARY: An open meeting of the Area 5 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Tuesday, July 11, 2006, at 9:30 a.m. Central Time. FOR FURTHER INFORMATION CONTACT: Mary Ann Delzer at 1-888-912-1227, or
(414)231-2365. SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App.
(1988)that a meeting of the Area 5 Taxpayer Advocacy Panel will be held Tuesday, July 11, 2006, at 9:30 a.m. Central Time via a telephone conference call. You can submit written comments to the panel by faxing to
(414)231-2363, or by mail to Taxpayer Advocacy Panel, Stop1006MIL, 211 West Wisconsin Avenue, Milwaukee, WI 53203-2221, or you can contact us at *http://www.improveirs.org.* This meeting is not required to be open to the public, but because we are always interested in community input, we will accept public comments. Please contact Mary Ann Delzer at 1-888-912-1227 or
(414)231-2365 for additional information. The agenda will include the following: Various IRS issues. Dated: June 7, 2006. John Fay, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E6-9331 Filed 6-14-06; 8:45 am] BILLING CODE 4830-01-P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Area 4 Taxpayer Advocacy Panel (Including the States of Illinois, Indiana, Kentucky, Michigan, Ohio, Tennessee, and Wisconsin) AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice. SUMMARY: An open meeting of the Area 4 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Friday, July 14, 2006, 8:30 a.m. to 4:30 p.m., and Saturday, July 15, 8 a.m. to Noon, Central Time. FOR FURTHER INFORMATION CONTACT: Mary Ann Delzer at 1-888-912-1227, or
(414)231-2365. SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App.
(1988)that a meeting of the Area 4 Taxpayer Advocacy Panel will be held Friday, July 14, 2006, 8:30 a.m. to 4:30 p.m., and Saturday, July 15, 8 a.m. to Noon, Central Time, at Hotel Indigo, 1244 North Dearborn Parkway, Chicago, IL 60610. You can submit written comments to the panel by faxing to
(414)231-2363, or by mail to Taxpayer Advocacy Panel, Stop1006MIL, 211 West Wisconsin Avenue, Milwaukee, WI 53203-2221, or you can contact us at *http://www.improveirs.org.* This meeting is not required to be open to the public, but because we are always interested in community input, we will accept public comments. Please contact Mary Ann Delzer at 1-888-912-1227 or
(414)231-2365 for more information. The agenda will include the following: Various IRS issues. Dated: June 7, 2006. John Fay, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E6-9332 Filed 6-14-06; 8:45 am] BILLING CODE 4830-01-P 71 115 Thursday, June 15, 2006 Notices Part II Department of State Office of Protocol; Gifts to Federal Employees From Foreign Government Sources Reported to Employing Agencies in Calendar Year 2004; Notice DEPARTMENT OF STATE [Public Notice 5435] Office of Protocol; Gifts to Federal Employees From Foreign Government Sources Reported to Employing Agencies in Calendar Year 2004 The Department of State submits the following comprehensive listing of the statements which, as required by law, Federal employees filed with their employing agencies during calendar year 2004 concerning gifts received from foreign government sources. The compilation includes reports of both tangible gifts and gifts of travel or travel expenses of more than minimal value, as defined by statute. Publication of this listing in the **Federal Register** is required by Section 7342(f) of Title 5, United States Code, as added by Section 515(a)(1) of the Foreign Relations Authorization Act, Fiscal Year 1978 (Pub. L. 95-105, August 17, 1977, 91 Stat. 865). Dated: May 17, 2006. Henrietta H. Fore, Under Secretary for Management, Department of State. AGENCY: White House Office and the National Security Council [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance President Artwork: 9″ x 7″ bull moose antler sculpture of an Eskimo in a kayak beside an igloo and a whale. Recd—January 12, 2004. Est. Value—$350. Archives Foreign The Right Paul Martin, P.C., M. P., Honorable, The Prime Minister of Canada and Mrs. Martin Non-acceptance would cause embarrassment to donor and U.S. Government. President Baseball caps (2): navy blue and silver wool Dallas Cowboys baseball caps embroidered with a star and a NFL patch. Recd—January 15, 2004. Est. Value—$40. Archives Foreign His Royal Highness Prince Bandar bin Sultan, Ambassador of the Kingdom of Saudi Arabia Non-acceptance would cause embarrassment to donor and U.S. Government. Clothing: Dallas Cowboys navy blue polyester pullover embroidered with a “D” on the front and “Cowboys” on the back. Recd—January 15, 2004. Est. Value—$70. Archives Foreign Clothing: navy blue wool Dallas Cowboys Varsity jacket with brown leather sleeves and Super Bowl patches sewn on each. Recd—January 15, 2004. Est. Value—$200. Archives Foreign President Desk accessory: 10″ x 2″ sterling silver pen and ink container with intricate engravings on the lid. Recd—January 28, 2004. Est. Value—$350. Archives Foreign His Excellency Recep Tayyip Erdogan, Prime Minister of the Republic of Turkey Non-acceptance would cause embarrassment donor and U.S. Government. President Hardcover book: 12″ x 16 1/2 ,″ brown leather bound book, “I palazzi di Genova (The Palaces of Genoa),” by Peter Paul Rubens. Recd—January 30, 2004. Est. Value—$325. Archives Foreign The Honorable Giuseppe Pericu, Mayor of Genoa, Italy Non-acceptance would cause embarrassment to donor and U.S. Government. President Household item: 10′ x 14′ brown, tan, sage and ivory wool rug with an intricate geometric pattern. Recd—February 18, 2004. Est. Value—$6300. Archives Foreign His Excellency Zine El Abidine Ben Ali, President of the Republic of Tunisia Non-acceptance would cause embarrassment to donor and U.S. Government. President Consumables (12): bottles of Georgian dry red wine. Recd—February 25, 2004. Est. Value—$144. Handled pursuant to Secret Service policy His Excellency Mikheil Saakashvili, President of Georgia Non-acceptance would cause embarrassment to donor and U.S. Government. Miscellaneous: 4″ gold-tone rose figurine; mounted on a 3 1/2 ″ x 2 1/2 ″ x 1″ green marble base with a plaque engraved “Revolution of Roses in Georgia, Mikheil Saakashvili.” Recd—February 25, 2004. Est. Value—$50. Archives Foreign Artwork: 37″ x 26″ multicolored oil painting on canvas of a Georgian town in the mountains; held in a 37″ x 26″ gold-tone wood frame. Recd—February 25, 2004. Est. Value—$100. Archives Foreign Athletic equipment: 11″ Softball, signed by Georgia's Junior Baseball League. Recd—February 25, 2004. Est. Value—$40. Archives Foreign President Household item: 10″ Waterford crystal scalloped bowl “Kings Bowl” etched “Presented to George W. Bush, President of the United States of America, On the Occasion of St. Patrick's Day 2004, By The Taoiseach Bertie Ahern, on Behalf of the People of Ireland.” Recd—March 17, 2004. Est. Value—$550. Archives Foreign His Excellency Bertie Ahern, TD Prime Minister of Ireland Non-acceptance would cause embarrassment to donor and U.S. Government. President Hardcover book: “Botero: New Works on Canvas,” an interview with Fernando Botero and “One Hundred Years of Solitude,” by Gabriel Garcia Marquez, held in a 20 1/2 ″ x 12″ x 3″ wooden box engraved with the authors signatures on the lid. Recd—March 23, 2004. Est. Value—$180. Archives Foreign His Excellency Alvaro Uribe, President of the Republic of Colombia and Mrs. Lina Moreno de Uribe Non-acceptance would cause embarrassment to donor and U.S. Government. President Desk accessory: 3 1/2 ″ x 2″ oval golden amber paperweight. Recd—March 29, 2004. Est. Value—$650. Archives Foreign His Excellency Indulis Emsis, Prime Minister of the Republic of Latvia Non-acceptance would cause embarrassment to donor and U.S. Government. President 25″ x 52″ 19th century hand-painted Syrian cabinet doors; held in a 33″ x 62 1/2 ″ gold-tone shadowbox frame with a plaque engraved “Syrian Hand Painted Cabinet Doors, CA: 1800's.” Recd—March 31, 2004. Est. Value—$1200. Archives Foreign His Excellency Imad Moustapha, Ambassador of the Syrian Arab Republic Non-acceptance would cause embarrassment to donor and U.S. Government. President Household item: 47″ x 78″ multicolored silk rug with intricate floral and bird designs. Recd—April 12, 2004. Est. Value—$2400. Archives Foreign His Excellency Mohamed Hosny Mubarak, President of the Arab Republic of Egypt Non-acceptance would cause embarrassment to donor and U.S. Government. President Miscellaneous: 8″ x 10″ gold leaf vase, by Jinli Shen, comprised of Chinese jingdezhen ceramic, Fuzhou lacquer and Cloisonne enamel; mounted on a 12″ x 12″ x 6″ wooden base with intricate gold feet. Recd—April 21, 2004. Est. Value—$350. Archives Foreign Her Excellency Wu Yi, Vice Premier of the State Council of the People's Republic of China Non-acceptance would cause embarrassment to donor and U.S. Government. President Miscellaneous: Phoenix Pro Max Model 2020 black leather protective rodeo vest embroidered with the American and Canadian flags on the front. Recd—April 30, 2004. Est. Value—$290. Archives Foreign The Right Honorable Paul Martin, P.C., M.P., Prime Minister of Canada Non-acceptance would cause embarrassment to donor and U.S. Government. President Desk accessory: 5 1/2 ″ Mont Blanc sterling silver pinstriped fountain pen with 18k gold trim and engraved with the donor's signature. Recd—April 30, 2004. Est. Value—$675. Archives Foreign His Majesty King Abdullah II of the Hashemite Kingdom of Jordan Non-acceptance would cause embarrassment to donor and U.S. Government. President Accessory: Wyler Vetta limited edition (8/275) Moby Dick watch with white and black alligator leather bands. Recd—May 19, 2004. Est. Value—$3004. Archives Foreign His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Clothing (6): a variety of E. Marinella silk ties. Recd—May 19, 2004. Est. Value $810. Archives Foreign President Miscellaneous: 7″ Kessaris sterling silver cup engraved with donor's signature and handles depicting silver olive leaves. Recd—May 20, 2004. Est. Value—$500. Archives Foreign His Excellency Kostas Karamanlis, Prime Minister of the Hellenic Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Collectable: white baseball printed “Athens 2004” and signed by donor, with 4kg black metal shot put and stand. Recd—May 20, 2004. Est. Value—$225. Archives Foreign President Artwork: 70″ x 24″ Gabonese hammered copper and wood mask; mounted on a 26″ x 19 1/2 ″ x 8″ iron stand. Recd—May 26, 2004. Est. Value—$600. Archives Foreign His Excellency El Hadj Omar Bongo Ondimba, President of the Gabonese Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Weapon: 18 1/2 ″ x 11″ Gabonese black wood machete with gold-tone trim. Recd—May 26, 2004. Est. Value—$600. Archives Foreign President Artwork: 12″ x 12″ x 32″ marble sculpture of Hercules, crafted by Pietro Galli in 1895. Rec'd—June 4, 2004. Est. Value—$8500. Archives Foreign His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Hardcover book: “Villa Madama (Madame's Villa),” by R. Editalia. Recd—June 4, 2004. Est. Value—$22. Archives Foreign Accessories (10): a variety of E. Marinella silk ties. Recd—June 4, 2004. Est. Value—$1350. Archives Foreign President Hardcover books (2, 1850 editions): “Democratie en Amerique: Tome Un et Deux (Democracy in America: Volumes 1 and 2),” by Alexis de Tocqueville. Recd—June 5, 2004. Est. Value—$1500. Archives Foreign His Excellency Jacques Chirac, President of the French Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Collectable: 44″ x 11 1/2 ″ x 15″ LCT 555 gray wooden model boat; held on a 50″ x 18 1/2 ″ x 4 1/2 ″ brown wood stand. Recd—June 5, 2004. Est. Value—$1500. Archives Foreign President Miscellaneous: 12″ x 4″ Reuge Music clear glass music box that plays “La Traviata,” “Nabucco,” and “Il Trovatore” with 2″ intricate fish-shaped gold-tone feet and etched with the royal crest. Recd—June 9, 2004. Est. Value—$1980. Archives Foreign His Majesty Hamad Bin Isa Bin Salman Al-Khalifa, King of the Kingdom of Bahrain Non-acceptance would cause embarrassment to donor and U.S. Government. President Smoking accessories: 12″ x 9″ x 4″ Lalique brown wood humidor inlaid with intricately carved resin. Recd—June 9, 2004. Est. Value—$2895. Archives Foreign His Excellency Jacques Chirac, President of the French Republic Non-acceptance would cause embarrassment to donor and U.S. Government. President Accessory: pair of 3/4 ″ 18kt white gold cufflinks depicting the Arabic symbols of good fortune and health. Recd—June 15, 2004. Est. Value—$400. Archives Foreign His Majesty King Abdullah II of the Hashemite Kingdom of Jordan Non-acceptance would cause embarrassment to donor and U.S. Government. President Hardcover book: “Treasures of the Hungarian National Library,” by Magyar Konyvklub. Recd—June 22, 2004. Est. Value—$90. Archives Foreign His Excellency Peter Medgyessy, Prime Minister of the Republic of Hungary Non-acceptance would cause embarrassment to donor and U.S. Government. Miscellaneous: 10′ braided brown leather whip with ornate multicolored leather detailing on a carved wooden handle. Recd—June 22, 2004 Est. Value—$125 Archives Foreign Miscellaneous: 16 1/2 ″ x 19 1/2 ″ limited edition (101/500) replica of the first printed map of the United States in 1540; held in a 22″ x 25″ gold-tone frame with green and red matting. Recd—June 22, 2004. Est. Value—$550. Archives Foreign President Household item: 12″ Lacquer ware bamboo bowl. Recd—June 22, 2004. Est. Value—$99. Archives Foreign His Majesty sultan Haji Hassanal Bolkia Mu'izzaddin Waddaulah Non-acceptance would cause embarrassment to donor and U.S. Government. Household items (2): 2″ x 7″ Biarritz clear glass champagne flutes, by Cristal JG Durand. Recd—June 22, 2004. Est. Value—$23. Archives Foreign Sultan and Yang Di-Pertuan of Brunei Darussalam Miscellaneous: 3″ x 4″ Earth elements red cinnamon scented candle. Recd—June 22, 2004. Est. Value—$20. Handled pursuant to Secret Service Policy Hardcover books (2): “The Amazing Cigar,” by Giovanni Livera and Jon Racherbaumer, and “Moments: The Pulitzer Prize-Winning Photographs,” by Hal Ruell. Recd—June 22, 2004. Est. Value—$55. Archives Foreign DVDs (2): “Singing in the Rain,” starring Gene Kelly and Debbie Reynolds, and “To Kill a Mockingbird,” starring Gregory Peck. Recd—June 22, 2004. Est. Value—$50. Archives Foreign CDs
(4)and paperback book: “Central Avenue Sounds: Jazz in Los Angeles (1921-1956),” by various artists. Recd—June 22, 2004. Est. Value—$60. Archives Foreign CD: “That Christmas Feeling,” by various artists. Recd—June 22, 2004. Est. Value—$15. Archives Foreign Household item: 5″ x 3 1/2 ″ Hungarian clear glass pitcher with lid. Recd—June 22, 2004. Est. Value—$20. Archives Foreign Holiday item: 5″ x 3 1/2 ″ multi-colored beaded ornament with “Joy.” printed on it. Recd—June 22, 2004. Est. Value—$13. Archives Foreign Collectable: 5 1/4 ″ x 8 1/4 ″ Lalique amber crystal eagle with outspread wings. Recd—June 22, 2004. Est. Value—$575. Archives Foreign Miscellaneous: 4 1/2 ″ x 5 1/2 ″ silver-plated heart shaped penholder. Recd—June 22, 2004. Est. Value—$26. Archives Foreign Miscellaneous: 2 1/2 ″ x 2 1/4 ″ Elias star-shaped pewter picture frame. Recd—June 22, 2004. Est. Value—$50. Archives Foreign President Miscellaneous: 9 1/2 ″ Waterford black ceramic carafe lined with a gold-tone finish; accompanied by a 12″ matching bowl. Recd—June 25, 2004. Est. Value—$118. Archives Foreign Her Excellency Dr. Mary McAleese, The President of Ireland Non-acceptance would cause embarrassment to donor and U.S. Government. President Hardcover book: “The Encyclopedia of Ireland,” edited by Brian Lalor. Recd—June 25, 2004 Est. Value—$65 Archives Foreign His Excellency Bertie Ahern, TD Prime Minister of Ireland Non-acceptance would cause embarrassment to donor and U.S. Government. President Household item: 13″ frosted and tinted crystal vase with intricate detailing Recd—June 25, 2004. Est. Value $76. Archives Foreign Sultan and Yang Di-Pertuan of Brunei Darussalam Game: “Forgotten English: Knowledge Cards,” created by Jeffrey Kacirk Recd—June 25, 2004 Est. Value—$10 Archives Foreign His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah. Sultan and Yang Di-Pertuan of Brunei Darussalam Non-acceptance would cause embarrassment to donor and U.S. Government. Desk accessory: 4 3/4 ″ x 2″ pewter desk clock. Recd—June 25, 2004. Est. Value—$56. Damaged during shipment Hardcover book: “Selected Poetry of Ogden Nash,” introduction by Archibald MacLeish. Recd—June 25, 2004. Est. Value—$16. Archives Foreign Hardcover book: “And the Crowd Goes Wild: Relive the Most Celebrated Sporting Events Ever Broadcast,” by Joe Garner. Recd—June 25, 2004. Est. Value—$50. Archives Foreign Artwork: 4 1/2 ″ x 6 1/2 ″ black and white print by Loy Whitman, of a park in New Haven during the winter; held in 8″ x 10″ black wood frame with black and white matting. Recd—June 25, 2004. Est. Value—$42. Archives Foreign Game: “Horse Race Derby: An Action Marble Game.” Recd—June 25, 2004. Est. Value—$16. Archives Foreign Household item: 3 1/2 ″ x 3 1/2 ″ sterling silver frame with a decorative border. Recd—June 25, 2004. Est. Value—$70. Archives Foreign Household item: 5″ x 5″ yellow ceramic soap dish painted with a multicolored country home in the center. Recd—June 25, 2004. Est. Value—$26. Archives Foreign Consumables: a variety of consumables, including crackers, cheese and chocolate. Recd—June 25, 2004. Est. Value—Not Applicable. Handled pursuant to Secret Service Policy Household item: 36″ x 20″ x 20″ brown wicker trunk. Recd—June 25, 2004. Est. Value—$579. Archives Foreign Paperback book: “The Worst-Case Scenario Survival Handbook,” by Joshua Piven and David Borgenicht. Recd—June 25, 2004. Est. Value—$15. Archives Foreign Holiday item: 8″ x 4 1/2 ″ x 7″ Department 56 brown log cabin wax candle; held on a 6″ x 9″ black iron base. Recd—June 25, 2004. Est. Value $60. Handled pursuant to Secret Service Policy President Household item: 73″ x 48″ red, blue, ivory, and olive silk Turkish kilim in an Anatolian pattern. Recd—June 27, 2004. Est. Value—$350. Archives Foreign His Excellency Ahmet Needet Sezer, The President of the Republic of Turkey and Mrs. Sezer Non-acceptance would cause embarrassment to donor and U.S. Government. Hardcover book: 13″ x 17″ copy of “Gardens of Paradise; 16th Century Turkish Ceramic Decoration,” by Walter Denny. Recd—June 27, 2004. Est. Value—$549. Archives Foreign Miscellaneous: 8″ x 4″ Pasabahce white and blue Turkish curvilinear glass container with white and cobalt swirl design; accompanied by a 1 1/2 ″ blue glass lid carved with NATO symbol. Recd—June 27, 2004. Est. Value—$100. Archives Foreign Photographs (40): 7 1/2 ″ x 9 1/2 ″ color photographs of President and Mrs. Bush's visit with donors in Istanbul, Turkey on June 26-27, 2004; held in a 10″ x 12″ blue leather album. Recd—June 27, 2004. Est. Value—$137. Archives Foreign President Miscellaneous: 12″ x 10″ ornate silver tray engraved “Syrian Orthodox Archdiocese of Istanbul and Ankara,” with rounded edges and intricate designs along the border. Recd—June 27, 2004. Est. Value—$450. Archives Foreign The Most Reverend Yusuf Syrian, Orthodox Metropolitan Istanbul, Turkey Non-acceptance would cause embarrassment to donor and U.S. Government. Paperback book: “The Spiritual Treasure of Canonical Prayer,” published by The Archdiocese of the Syrian Orthodox Church; inscribed by donor. Recd—June 27, 2004. Est. Value—$5. Archives Foreign Paperback book: “5500 Syrians: Years” Witnesses,” by Kenan Altinisik, inscribed by donor. Recd—June 27, 2004. Est. Value—$10. Archives Foreign Hardcover book: “Deyrul Zafaran: Monestary Restoration and Protection Association,” edited by Cemil Tahincioglu. Recd—June 27, 2004. Est. Value—$250. Archives Foreign Plaque: 4″ x 6″ brass plaque engraved with the Lord's Prayer in Arabic. Recd—June 27, 2004. Est. Value—$35. Archives Foreign President Miscellaneous: 15″ x 15″ engraved silver calligraphic Quranic verse, “When you judge between people you judge with justice,” bordered with blue, orange and green hand painted floral tile; held in a 21″ x 21″ gold-tone wood shadow box frame with green and purple matting. Recd—June 27, 2004. Est. Value—$350. Archives Foreign Dr. Ali Bardakoglu, President of Religious Affairs Directorate General Ankara, Turkey Non-acceptance would cause embarrassment to donor and U.S. Government. Religious item: 13″ black prayer beads inlaid with mother-of-pearl and silver. Recd—June 27, 2004. Est. Value—$150. Archives Foreign President Miscellaneous: 14″ x 7″ Yildiz black, grey, white and silver porcelain bowl with an ornate leaf pattern; accompanied by a matching 14″ x 5″ lid with a black porcelain leaf-shaped handle. Recd—June 27, 2004. Est. Value—$250. Archives Foreign His Excellency Recep Tayyip Erdogan, Prime Minister of the Republic of Turkey Non-acceptance would cause embarrassment to donor and U.S. Government. Photographs and CD: 7 1/2 ″ x 9 1/2 ″ color photographs
(40)of President and Mrs. Bush's visit with the donor in Istanbul, Turkey on June 27, 2004; held in a 10″ x 12″ red leather album. Recd—June 27, 2004. Est. Value—$137. Archives Foreign President Consumables (36): 750 ml. bottles of 1998 Chateau Tellagh Algerian red wine (6), 750 ml. bottles of Cuvee du President Algerian red wine
(6)and 750 ml. bottles of 2001 Domaine Sebra Algerian red wine. Recd—June 30, 2004. Est. Value—$420. Handled pursuant to Secret Service policy His Excellency Abdelaziz Bouteflika, President of the Democratic Republic of Algeria Non-acceptance would cause embarrassment to donor and U.S. Government. Miscellaneous: 10″ x 9″ silver filigree boat inlaid with coral stones on the sails. Recd—June 30, 2004. Est. Value—$500. Archives Foreign Miscellaneous: 11 1/2 ″ x 22 1/2 ″ multicolored ceramic urn with silver-tone and coral detailing. Recd—June 30, 2004. Est. Value $125. Archives Foreign President Miscellaneous (2): 4 1/2 ″ x 3″ blue, aqua and grey ceramic bowls with gold accents; accompanied by matching 4 1/2 ″ x 3 1/2 ″ lids with engraved gold handles. Recd—July 8, 2004. Est. Value—$15,000. Archives Foreign His Majesty Mohammed VI, King of Morocco Non-acceptance would cause embarrassment to donor and U.S. Government. Miscellaneous (2): 5″ x 7 1/2 ″ x 9″ ornate silver stirrups with 18kt gold accents and inlaid with rubies and emeralds. Recd—July 8, 2004. Est. Value $15,000. Archives Foreign President Clothing: Gobi black cashmere long-sleeve v-neck sweater with a 12″ x 60″ matching cashmere muffler. Recd—July 15, 2004. Est. Value—$175. Archives Foreign His Excellency N. Bagabandi, President of Mongolia and Mrs. A. Oyunbileg Non-acceptance would cause embarrassment to donor and U.S. Government. Game: 20″ x 20″ multicolored wood chess set containing pieces carved in traditional Mongolian designs. Recd—July 15, 2004. Ext. Value—$150. Archives Foreign President Weapon: 13″ curved dagger with a sterling silver, gold and amethyst handle and a 14″ sterling silver and gold sheath etched with a floral pattern; held in a clear acrylic and velvet display case with presentation plates engraved “Presented by Abdullah bin Haji Ahmad Badawi, Prime Minister of Malaysia,” “Traditional Malay Weapon `Kris Tapak Kuda,' ” and “Keris Tapak Kuda.” Recd—July 19, 2004. Est. Value—$750. Archives Foreign His Excellency YAB Dato' Seri Abdullah bin Ahmad Badawi, Prime Minister of Malaysia Non-acceptance would cause embarrassment to donor and U.S. Government. President Smoking accessories (33): 6″ cigars. Recd—July 30, 2004. Est. Value—$660. Handled pursuant to Secret Service policy His Excellency Nunzio Alfredo D'Angieri, Ambassador of Belize to Italy Non-acceptance would cause embarrassment to donor and U.S. Government. Smoking accessory: 12″ x 14″ x 6″ lacquered cherry wood humidor with “GWB” inlaid in silver. Recd—July 30, 2004. Est. Value—$200. Archives Foreign President Household accessory: 22″ white, orange, blue, red, and green round marble tabletop inlaid with red, coral, malachite, lapis lazuli, mother-of-pearl, turquoise and agate flowers; held on a 15″ x 15″ folding wooden base. Recd—September 22, 2004. Est. Value $550. Archives Foreign His Excellency Manmohan Singh, Prime Minister of the Republic of India Non-acceptance would cause embarrassment to donor and U.S. Government. President Coffee service (5): 2″ x 3″ ceramic coffee cups with ornate sterling silver liners (2); 3 1/2 ″ sterling silver saucers (2); and a 10″ x 8″ sterling silver rectangular platter with beaded edges and detailed handles. Recd—September 29, 2004. Est. Value—$104. Archives Foreign His Excellency Abdullah Gul, The Deputy Prime Minister and Minister of Foreign Affairs of the Republic of Turkey and Mrs. Gul Non-acceptance would cause embarrassment to donor and U.S. Government. Household accessory: 4″ x 9″ tin Turkish coffee server with a 6″ wooden handle and engraved with a geometric pattern. Recd—September 29, 2004. Est. Value—$66. Archives Foreign Consumable: 250 grams of Turkish coffee. Recd—September 29, 2004. Est. Value—$10. Handled pursuant to Secret Service policy Household accessory: 16″ x 16″ gold-tone, taupe, and pink tapestry table runner with 3″ silk fringe. Recd—September 29, 2004. Est. Value—$170. Archives Foreign President Household accessories (48): 8″ round red, black, gold, pink, green, and blue Thai porcelain plates painted with an ornate floral pattern (6); 10″ round red, black, gold, pink, green, and blue Thai porcelain plates painted with an ornate floral pattern (6); 12″ round red, black, gold, pink, green, and blue Thai porcelain plates painted “GWB” with an ornate floral pattern (6); 5″ x 2 1/2 ″ red, black, gold, pink, green, and blue Thai porcelain plates painted with an ornate floral pattern (6); 7″ red, black, gold, pink, green, and blue Thai porcelain plates painted with an ornate floral pattern (6); 6 3/4 ″ red, black, gold, pink, green, and blue Thai porcelain plates painted with an ornate floral pattern (6); 6 3/4 ″ red, black, gold, pink, green, and blue Thai porcelain plates painted with an ornate floral pattern (6); 2 1/2 ″ x 2 1/2 ″ red, black, gold, pink, green, and blue Thai porcelain coffee cups painted with an ornate floral pattern (6). Recd—October 5, 2004. Est. Value $480. Archives Foreign His Excellency Thaksin Shinawatra, Prime Minister of the Kingdom of Thailand Non-acceptance would cause embarrassment to donor and U.S. Government. Miscellaneous: 14 1/2 ″ x 33″ x 39″ wooden china display box with navy blue velvet lining. Recd—October 5, 2004. Est. Value—$200. Archives Foreign President Consumables (24): 750 ml. bottles of Coteaux de Mascara Domaine el Bordj (6); 750 ml. bottles of Chateau Tellagh Medea (8); and 750 ml. bottles of Cuvee du President Vin D'Algerie (10). Recd—October 22, 2004. Est. Value—$238. Handled pursuant to Secret Service policy His Excellency Abdelaziz Bouteflika, President of the People's Democratic Republic of Algeria Non-acceptance would cause embarrassment to donor and U.S. Government. Weapon: 31″ silver sword ornately engraved with a geometrical design and inlaid with wooden geometrical shapes; held in a 26″ sheath with two 2″ hinged loops for hanging. Recd—October 22, 2004. Est. Value—$2500. Archives Foreign Household accessory: 81″ x 127″ hand-tied red, yellow, burgundy, and green wool rug with a small geometric pattern and a 4″ beige fringe. Recd—October 22, 2004. Est. Value—$700. Archives Foreign President Hardcover book (facsimile of 1812 edition): “Aurora de Chile,” published by the Sociedad de Biblofilos Chilenos. Recd—November 21, 2004. Est. Value—$50. Archives Foreign His Excellency Ricardo Lagos Escobar, President of the Republic of Chile Non-acceptance would cause embarrassment to donor and U.S. Government. Artwork (3): 13″ x 13″ matted engraving of wood block print with accompanying poems, by Gabriela Mistral and Pablo Neruda, of a panther and a duck in the desert; 13″ x 13″ matted engraving of wood block print with accompanying poems, by Gabriela Mistral and Pablo Neruda, of a vulture, sparrow, and a palm tree with mountains in the background; and 13″ x 13″ matted engraving of wood block print with accompanying poems, by Gabriela Mistral and Pablo Neruda, of a deer, two fish, and a tree. Recd—November 21, 2004. Est. Value—$450. Archives Foreign Photograph: 16″ x 20″ color photograph of President Bush and world leaders at 2004 APEC Summit in Santiago, Chile; matting signed by donor and wooden frame engraved “XII APEC ECONOMIC LEADERS' MEETING, Santiago—Chile—November 2004.” Recd—November 21, 2004. Est. Value—$261. Archives Foreign President Collectable: 10″ x 8″ x 2″ silver, gold, and wood hinged box engraved with an image of the Royal Palace of Spain on the top and with donor's signature inside. Recd—November 24, 2004. Est. Value—$750. Archives Foreign His Majesty Juan Carlos I, King of Spain Non-acceptance would cause embarrassment to donor and U.S. Government. President Collectable: 7″ gold-tone, white and black enamel, and stainless steel Hour Lavigne clock with a hinged back opening to an image of Bahrain. Recd—November 29, 2004. Est. Value—$140. Archives Foreign His Majesty Hamad Bin Isa Bin Salman Al-Khalifa, King of the Kingdom of Bahrain Non-acceptance would cause embarrassment to donor and U.S. Government. Weapon: 9″ stainless steel and gold-tone knife with malachite handle and stamped with the seal of the Kingdom of Bahrain. Recd—November 29, 2004. Est. Value—$400. Archives Foreign President Athletic equipment: 34″ black and brown wooden Sam Bats baseball bat engraved “Texas Rangers, Prez 43, George W. Bush, Future Commissioner MLB, Presented by The Right Hon. Paul Martin, Ottawa, Canada, November 30, 2004.” Recd—November 30, 2004. Est. Value $111. Archives Foreign The Right Honorable Paul Martin, PC, MP, Prime Minister of Canada Non-acceptance would cause embarrassment to donor and U.S. Government. Accessories: pair of 3/4″ white and yellow 14kt gold maple leaf cufflinks. Recd—November 30, 2004. Est. Value—$800. Archives Foreign President Household accessories (3): 21″ x 44″ x 20″ dark wood table ornately inlaid with bone; and 22″ x 22″ x 20 1/2 ″ dark wood end table ornately inlaid with bone (2). Recd—December 4, 2004. Est. Value $1400. Archives Foreign His Excellency Pervez Musharraf, President of the Islamic Republic of Pakistan Non-acceptance would cause embarrassment to donor and U.S. Government. Weapon: 52″ x 8″ antique muzzle loader (circa mid-1800s); held in a 20″ x 62″ wooden shadowbox with a 4″ x 3″ plaque engraved “Presented by General Pervez Musharraf, President, Islamic Republic of Pakistan.” Recd—December 4, 2004. Est. Value—$725. Archives Foreign Clothing: cream wool traditional Pakistani coat embroidered with a satin ornate design. Recd—December 4, 2004. Est. Value—$175. Archives Foreign Accessory: 10″ cream wool traditional Pakistani hat. Recd—December 4, 2004. Est. Value—$65. Archives Foreign President Weapons (11): Maynard Revolver; Colt Revolver (circa 1884); Colt Police Revolver (circa 1860); Remington Double Derringer Pistol; Sharps Flint-Ignition Pistol (circa 1780); Winchester Lever-Action Repeating Carbine (circa 1866); Colt Navy (circa 1851); Pistol from Lowell, Massachusetts (circa 1858); Colt Derringer, Sharps 4 Barrel Pocket Pistol; and Wesson and Harrington Pocket Revolver (circa 1871); all held in a 23″ x 43″ hinged wooden box. Recd—December 6, 2004. Est. Value—$12,000. Archives Foreign His Majesty King Abdullah II of the Hashemite Kingdom of Jordan Non-acceptance would cause embarrassment to donor and U.S. Government. Miscellaneous (6): 4″ jars of various fertilizers; held on a 12″ x 15″ wooden revolving display. Recd—December 6, 2004. Est. Value $60. Archives Foreign Weapon: 50″ x 8 1/2 ″ black Dakota Arms sniper rifle with an 8″ scope; held in a metal hinged box embroidered on the inside “To My Dear Friend, George W. Bush, Abdullah II” with a Jordanian crown and the Great Seal. Recd December 6, 2004. Est. Value—$10000. Archives Foreign President Jewelry: 18kt yellow gold Cartier Santos 100 watch with a square face, Roman numeral hour markers, and a brown alligator band. Recd—December 16, 2004. Est. Value—$4200. Archives Foreign His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Accessories (12): variety of E. Marinella silk ties. Recd—December 16, 2004. Est. Value—$1620. Archives Foreign President Miscellaneous: 20 1/2 ″ x 16″ red and white leather chest with hinged lid; padded interior with a two-tiered leather lined wood tray. Recd—December 17, 2004. Est. Value—$280. Archives Foreign His Excellency Zine El Abidine Ben Ali, President of the Republic of Tunisia Non-acceptance would cause embarrassment to donor and U.S. Government. Consumables: ten pounds of Tunisian dates. Recd—December 17, 2004. Est. Value—$60. Handled pursuant to Secret Service policy Consumables (6): bottles of Les Vignes de Tánit wine (2 Rose, 2 Blanc, 2 Rouge). Recd—December 17, 2004. Est. Value—$48. Archives Foreign Consumables (8): liter bottles of Tunisian olive oil. Recd—December 17, 2004. Est. Value—$28. Handled pursuant to Secret Service policy President Household: 3 1/2 ″ x 4″ round frosted glass containers with “Savour Jordan.” Recd—December 22, 2004. Est. Value—$30. Archives Foreign Their Majesties King Abdullah II and Queen Rania al Abdullah of the Hashemite Kingdom of Jordan Non-acceptance would cause embarrassment to donor and U.S. Government. Miscellaneous (2): myrtle flower scented candles. Recd—December 22, 2004. Est. Value—$20. Handled pursuant to Secret Service Policy Accessory: 2 1/2 ″ circular sterling silver lapel pin stamped “we must reach back to the greatest traditions of our civilizations * * * reach forward to the new insights and capabilities that will improve life * * * and we must reach out to each other.” Recd—December 22, 2004. Est. Value—$75. Archives Foreign Household accessories (3): 3″ hammered sterling silver miniature urns. Recd—December 22, 2004. Est. Value—$250. Archives Foreign Desk accessories (3): silver, gold and beige journals stamped with a palm pattern and with accompanying silver-tone bookmarks. Recd—December 22, 2004. Est. Value—$96. Archives Foreign Collectable: 9″ x 9″ gold, yellow, green, and red square Rosenthal porcelain plate painted with an ornate design with Arabic characters. Recd—December 22, 2004. Est. Value—$100. Archives Foreign First Lady Household item: 6″ Royal Copenhagen blue fluted half lace china dish with the Royal cipher of Denmark in the center. Recd—January 14, 2004. Est. Value—$250. Archives Foreign Her Royal Highness Princess Alexandra of Denmark Non-acceptance would cause embarrassment to donor and U.S. Government. Photograph: 4″ x 6″ photograph of Princess Alexandra of Denmark; held in a 6″ x 9″ wood frame engraved with the Royal cipher on a silver square plate. Recd—January 14, 2004. Est. Value—$100. Archives Foreign First Lady Accessory: 12″ x 9 3/4 ″ Loewe brown suede and leather handbag. Recd—January 14, 2004. Est. Value—$590. Archives Foreign His Excellency Jose Maria Aznar, President of the Government of Spain and Mrs. Aznar Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Jewelry: 13 1/2 ″ x 1 1/2 ″ Atasay black leather and fur choker with traditional Sanliurfa simra 14kt gold draping chains and open work. Recd—January 28, 2004. Est. Value—$500. Archives Foreign Mrs. Ermine Erdogan, Office of the Prime Minister of the Republic of Turkey Non-acceptance would cause embarrassment to donor and U.S. Government. Hardcover books (2): “Rumi Hidden Music,” translated by Maryam Mafi and Azima Melita Kolin; and “Rumi: The Book of Love,” translated by Coleman Barks. Recd—January 28, 2004. Est. Value—$44. Archives Foreign Paperback book: “The Rumi Collection,” edited by Kabir Helminski. Recd—January 28, 2004. Est. Value—$15. Archives Foreign First Lady Household item: 10″ x 3″ x 14″ elaborate silver filigree vanity mirror. Recd—February 18, 2004. Est. Value—$750. Archives Foreign Mrs. Leila Ben Ali, Office of the President of the Republic of Tunisia Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Household items (7): Louise Kennedy Tipperary Crystal napkin rings
(6)from the Earth Star Collection; accompanied by a 10″ x 2″ crystal stand. Recd—March 17, 2004. Est. Value—$162. Archives Foreign His Excellency Bertie Ahern, TD, Prime Minister of Ireland Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady CD: “Paz, Reconciliacao (Peace, Reconciliation),” by Angola Unida. Recd—May 12, 2004. Est. Value—$15. Archives Foreign Mrs. Ana Paula dos Santos, First Lady of the Republic of Angola Non-acceptance would cause embarrassment to donor and U.S. Government. Artwork: 37″ x 54″ multi-colored acrylic painting on velvet of a woman grinding grain in a village. Recd—May 12, 2004. Est. Value—$550. Archives Foreign First Lady Household items (7): 53″ x 89″ multicolored splatter painted white linen tablecloth with orange trim; accompanied by matching 18″ x 12″ orange linen napkins
(2)and 14″ x 12″ white linen napkins (4). Recd—May 26, 2004. Est. Value—$150. Archives Foreign Mrs. Edith Lucie Bongo Ondimba, First Lady of the Gabonese Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Jewelry: 3 1/2 ″ x 2″ 18kt gold intricate mask brooch inlaid with diamonds and emeralds. Recd—May 26, 2004. Est. Value—$1500. Archives Foreign Household items (2): 19″ x 15″ raffia pillows with fringe. Recd—May 26, 2004. Est. Value—$120. Archives Foreign Household items (2): 18″ x 14″ raffia pillows lined in brown and navy blue leather. Recd—May 26, 2004. Est. Value—$120. Archives Foreign First Lady Jewelry: 7″ white gold chain link bracelet inlaid with diamonds. Recd—June 4, 2004. Est. Value $3850. Archives Foreign Mrs. Veronica Berlusconi, Office of the President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Religious item: 22 1/2 ″ silver filigree rosary. Recd—June 4, 2004. Est. Value—$75. Archives Foreign His Holiness Pope John Paul II, Vatican City Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Accessory: 8″ x 4″ Chanel beige leather purse with a gold chain strap. Recd—June 5, 2004. Est. Value—$1150. Archives Foreign Mrs. Bernadette Chirac, Office of the President of the French Republic Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Household items (6): 18″ x 18″ gray linen napkins embroidered with a paisley design in the corner (6); accompanied by 1″ sterling silver napkin rings engraved “Moscow” in Russian (6). Recd—June 8, 2004. Est. Value $543. Archives Foreign Mrs. Lyudmila Aleksandrovna Putina, Office of the President of the Russian Federation Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Accessory: 4″ x 1 1/2 ″ x 3″ sterling silver clutch purse with floral designs in relief. Recd—June 9, 2004. Est. Value—$350. Archives Foreign Mrs. Emine Erdogan, Office of the Prime Minister of the Republic of Turkey Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Collectable: 7″ x 6″ gold-tone and multi-colored Herend Queen Anne covered tureen with a rose handle and painted with butterflies and flowers. Recd—June 22, 2004. Est. Value—$740. Archives Foreign His Excellency Peter Medgyessy, Prime Minister of the Republic of Hungary Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Household item: 9 1/2 ″ baby blue textured earthenware clay bowl with gold wiring along the edge, by Ann Marie Brannigan. Recd—June 25, 2004. Est. Value—$469. Archives Foreign Her Excellency Dr. Mary McAleese, The President of Ireland Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Household item: 72″ x 144″ Ferguson's white linen damask tablecloth. Recd—June 25, 2004. Est. Value—$318. Archives Foreign His Excellency Bertie Ahern, TD Prime Minister of Ireland Non-acceptance would cause embarrassment to donor and U.S. Government. Household items (12): 18″ x 18″ Ferguson's white linen napkins. Recd—June 25, 2004. Est. Value—$183. Archives Foreign First Lady Household item: 7″ x 3″ Urart sterling silver bowl with a 7″ sterling silver lid engraved with scenes of Topkapi Palace, Galata and the Maiden Towers Fortresses. Recd—June 27, 2004. Est. Value—$450. Archives Foreign His Excellency Ahmet Necdet Sezer, The President of the Republic of Turkey Non-acceptance would cause embarrassment to donor and U.S. Government. Consumables: Divan Turkish candy. Recd—June 27, 2004. Est. Value: $10. Handled pursuant to Secret Service policy First Lady Accessory: 6″ x 3″ x2 ″ Mounier & Bouvard 18kt gold filigree evening clutch purse inlaid with diamonds on the edge and clasp. Recd—July 8, 2004. Est. Value—$12,500. Archives Foreign His Majesty Mohammed VI, King of Morocco Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Hardcover book: first edition
(1943)copy of “The Little Prince,” by Antoine de Saint-Exupery and signed by author. Recd—July 12, 2004. Est. Value—$875. Archives Foreign His Excellency Peter Medgyessy, Prime Minister of the Republic of Hungary Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Clothing: long tan cashmere sweater coat made in Buyan. Recd—July 15,2004. Est. Value—$420. Archives Foreign His Excellency N. Bagabandi, President of Mongolia and Mrs. A. Oyunbileg Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Household items (2): 24″ x 69″ light blue and royal blue silk table runners with an intricate thread design and fringe. Recd—July 15, 2004. Est. Value—$500. Archives Foreign His Excellency George A. Obiozor, Ambassador of the Federal Republic of Nigeria Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Hardcover books (3): “O-Kee-Pa: A Religious Ceremony and Other Customs of the Mandan,” by George Catlin (published in 1867); and “North American Indians, Volumes I and II,” by George Catlin (published 1913). Recd—November 4, 2004. Est. Value—$450. Archives Foreign His Majesty Mohammed VI, King of Morocco Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Accessory: brown, beige, and blue silk scarf printed “APEC 2004, Chile” with an abstract pattern. Recd—November 17, 2004. Est. Value—$135. Archives Foreign. Accessory: brown alpaca scarf with a 5″ fringe. Recd—November 17, 2004. Est. Value—$65. Archives Foreign Mrs. Luisa Duran de Lagos, First Lady of the Republic of Chile Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Jewelry: 1 1/4 ″ gold, light and dark pink garnet and pink tourmaline chandelier earrings; and a 17″ light and dark pink garnet and pink tourmaline beaded necklace. Recd—November 19, 2004. Est. Value—$500. Archives Foreign Mrs. Sehba Musharraf, First Lady of the Islamic Republic of Pakistan Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Collectable: 7″ sterling silver bowl stamped with an ornate design. Recd—November 20, 2004. Est. Value—$350. Archives Foreign Mrs. Marta Sahagun de Fox, First Lady of the United Mexican States Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Accessory: yellow and white 14kt gold maple leaf lapel pin. Recd—November 30, 2004. Est. Value—$1,000. Archives Foreign. Accessory: blue, green and rose silk scarf. Recd—November 30, 2004. Est. Value—$79. Archives Foreign Mrs. Sheila Martin, Office of the Prime Minister of Canada Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Accessory: Black satin evening bag with a turquoise, red coral, quartz and carnelian handle. Recd—December 1, 2004. Est. Value—$140. Archives Foreign. Accessory: Loewe scarf. Recd—December 1, 2004. Est. Value—$295. Archives Foreign Her Majesty Queen Sofia Carlos, Queen of Spain Non-acceptance would cause embarrassment to donor and U.S. Government. First Lady Collectable: sterling silver bowl with ornate design. Recd—December 4, 2004. Est. Value—$350. Archives Foreign His Excellency Pervez Musharraf, President of the Islamic Republic of Pakistan Non-acceptance would cause embarrassment to donor and U.S. Government. First Family Photograph of APEC leaders in October 2003 wearing traditional Thai clothing in sterling silver frame. Recd—January 30, 2004. Est. Value—$450. Archives Foreign His Excellency Thaksin Shinawatra, The Prime Minister of the Kingdom of Thailand and Mrs. Khunying Shinawatra Non-acceptance would cause embarrassment to donor and U.S. Government. First Family Plaza Real sterling silver and dark wood chest with sterling silver cactus designs in relief. Est. Value—$300 His Excellency Vicente Fox Quesada, The President of the United Mexican States and Mrs. Fox Non-acceptance would cause embarrassment to donor and U.S. Government. Tane silver leaf sculpture. Est. Value—$250 Black wood tray, from Guerrero, Mexico, hand painted by Francisco Coronel; accompanied by the hardcover book, “Lacas Mexicanas”. Est. Value—$125. Recd—March 6, 2004. Archive Foreign First Family Argenta coconut shell bowl with sterling silver handles. Recd—March 23, 2004. Est. Value—$150. Archives Foreign His Excellency Alvaro Uribe, President of the Republic of Columbia and Mrs. Lina Moreno de Uribe Non-acceptance would cause embarrassment to donor and U.S. Government. First Family Bronze depiction of the Baptism of Christ held in a gold tone shadowbox frame lined in red velvet and containing a 2″ bronze replica of the papal crest. Recd—June 4, 2004. Est. Value—$450. Archives Foreign His Holiness John Paul II, Vatican City Non-acceptance would cause embarrassment to donor and U.S. Government. First Family Monnaie de Paris silver watches with black leather bands. Recd—June 5, 2004. Est. Value—$228. Archives Foreign His Excellency Jacques Chirac, President of the French Non-acceptance would cause embarrassment to donor and U.S. Government. First Family Beige pottery piece made by Paula Murray. Recd—June 8, 2004. Est. Value—$350. Archives Foreign The Right Honorable Paul Martin, P.C., M.P., The Prime Minister of Canada and Mrs. Martin Non-acceptance would cause embarrassment to donor and U.S. Government. First Family Coins (5): 1 1/4 ″ Bahrain 22kt gold coins engraved with “The Great Bahraini Rulers.” Recd—June 9, 2004. Est. Value—$2000. Archives Foreign His Majesty Hamad Bin Isa Bin Salman Al-Khalifa, King of the Kingdom of Bahrain Non-acceptance would cause embarrassment to donor and U.S. Government. Leather bound book and CD: “Brief Astronomical Biography of His Excellency The Hon. George W. Bush, President of the United States of America.” Recd—June 9, 2004. Est. Value—$100. Archives Foreign Photograph: 12″ x 7″ inscribed color photograph of the donor and the Queen of Bahrain; held in a 15″ x 12″ gold-tone wood frame with red and beige suede matting. Recd—June 9, 2004. Est. Value—$76. Archives Foreign First Family Clothing: John Molloy traditional ivory wool Aran women's sweater with brown buttons; accompanied by a House of Ireland traditional ivory wool Aran men's sweater. Recd—June 25, 2004. Est. Value—$285. Archives Foreign His Excellency Bertie Ahern, TD, Prime Minster of Ireland Non-acceptance would cause embarrassment to donor and U.S. Government. First Family Photographs (29): collection of 9″ x 7″ photographs, taken by Prince Roland Bonaparte in 1888, of various Native Americans; mounted on albumen paper stamped with Prince Bonaparte's seal and held in a 16 1/2 ″ x 14″ tan leather book binding embossed “Photographic Portraits of North American Indians, Prince Roland Bonaparte.” Recd—November 4, 2004. Est. Value—$600. Archives Foreign His Majesty Mohammed VI, King of Morocco Non-acceptance would cause embarrassment to donor and U.S. Government. First Family Collectable: 8″ x 5″ Steuben Glass figurine of an elephant with its trunk raised in the air. Recd—December 8, 2004. Est. Value—$1100. Archives Foreign His Excellency Sheikh Salem Abdullah Al Jaber Al-Sabah, Ambassador of the State of Kuwait and Mrs. Al-Sabah Non-acceptance would cause embarrassment to donor and U.S. Government. Abrams, Elliott, Special Assistant to the President and Senior Director National Security Council Desk accessory: Mont Blanc Meisterstuck Solitaire Doue Black Silver Fountain Pen. Recd—March 29, 2004. Est. Value—$425. Government Property His Majesty King Abdullah II of the Hashemite Kingdom of Jordan Non-acceptance would cause embarrassment to donor and U.S. Government. Abrams, Elliott, Special Assistant to the President and Senior Director National Security Council Desk accessory: Mont Blanc Hommage a Alexander the Great solid gold fountain pen with diamond on clip and 18kt gold nib. Received—March 30, 2004. Est. Value—$5690. Government Property His Highness Sheikh Hamad bin Khalifa Al Thani Amir of the State of Qatar Non-acceptance would cause embarrassment to donor and U.S. Government Bartlett, Daniel J., Assistant to the President for Communications Accessories (5): E. Marinella silk twill neckties. Recd—June 4, 2004. Est. Value—$675. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Card, Andrew H., Jr., Assistant to the President and Chief of Staff Accessories (5): E. Marinella silk twill neckties. Recd—June 4, 2004. Est. Value—$675. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Card, Andrew H., Jr., Assistant to the President and Chief of Staff Accessories (5): E. Marinella silk twill neckties. Recd—December 15, 2004. Est. Value—$675. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Cooper, Cathy, Administrative Assistant National Security Council Jewelry (2): matching necklace and bracelet sets of silver and orange stone; one set has matching ring. Recd—March 29, 2004. Est. Value—$500. Government Property His Excellency Abdulwahab A. Al-Hajjri, Ambassador of the Republic of Yemen Non-acceptance would cause embarrassment to donor and U.S. Government. Frazer, Jendayi, Special Assistant to the President and Senior Director National Security Council Household: 8′ round leather area rug with a detailed pattern in blue, red, gold and white. Recd—June 1, 2004. Est. Value—$450. Transferred to the General Services Administration His Excellency Jibril Muhammad Aminu, Ambassador of the Federal Republic of Nigeria Non-acceptance would cause embarrassment to donor and U.S. Government. Fried, Daniel, Special Assistant to the President and Senior Director National Security Council Accessories (3): E. Marinella silk twill neckties. Recd—May 19, 2004. Est. Value—$405. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Green, Michael J., Special Assistant to the President and Senior Director National Security Council Household: 7 5/8 ″ x 4 1/2 ″ sterling silver bowl with scalloped rim, set with 1″ gold and enamel seal of donor. Recd—December 14, 2004. Est. Value—$500. Government Property His Excellency Pervez Musharraf, President of the Islamic Republic of Pakistan Non-acceptance would cause embarrassment to donor and U.S. Government Hadley, Stephen Deputy Assistant to the President and Deputy National Security Advisor Desk accessory: 10 1/2 ″ x 11″ x 2″ sterling silver model sailing vessel, double masted, trimmed with three sails, rigging, rudder and anchor mounted on an oval black 9″ x 4″ wood base with silver plaque engraved “Ministry of Foreign Affairs & Investment Promotion Malta.” Recd—May 20, 2004. Est. Value—$450. Government Property The Honorable John Dalli, Minister of Foreign Affairs of the Republic of Malta Non-acceptance would cause embarrassment to donor and U.S. Government. Hadley, Stephen, Deputy Assistant to the President and Deputy National Security Advisor Household: 7 5/8 ″ × 4 1/2 ″ silver bowl with scalloped rim, set with 1″ gold and enamel seal of donor. Recd—December 15, 2004. Est. Value—$500. Government Property His Excellency Pervez Musharraf, President of the Islamic Republic of Pakistan Non-acceptance would cause embarrassment to donor and U.S. Government. McClellan, Scott, Assistant to the President and Press Secretary Accessories (5): E. Marinella silk twill neckties. Recd-May 19, 2005 Est. Value—$675. Government Property His Excellency Silvio Berlusconi, President of the Council fo Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. McClellan, Scott, Assistant to the President and Press Secretary Accessories (5): E. Marinella silk twill neckties. Recd—December 17, 2004. Est. Value—$675. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Miers, Harriet, Assistant to the President and Deputy Chief of Staff Household: 10″ x 9 1/2 ″ Archimede Seguso Gold Collection hand-blown Murano glass melon-ribbed vase and cachepot. Recd—May 19, 2004. Est. Value—$850. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Accessory: 54″ square Hermes silk and cashmere scarf in multicolor rose pattern. Recd—January 15, 2004. Est. Value—$760. Government Property Her Excellency Michele Alliot-Marie, Minister of Defense and War Veterans of the French Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Household: 6 1/8 ″ x 2 1/2 ″ x 3 1/4 ″ William & Son sterling silver L'Epee Corniche Standard carriage clock. Recd—February 13, 2004. Est. Value—$2095. Government Property His Highness Igor Ivanov, Minister for Foreign Affairs of the Russian Federation and Head of the Bahrain Defense Force Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Household: 10″ sterling silver-plate/wall plaque with embossed design, engraved “With compliments from Lakshman Kadirgamar Minister of Foreign Affairs Sri Lanka.” Recd—May 11, 2004. Est. Value—$350. Government Property The Honorable Lakshman Kadirgamar, P.C., M.P., Minister of Foreign Affairs of the Democratic Socialist Republic of Sri Lanka Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Hardcover book: 12 3/8 ″ x 19″ x 1 1/2 ″ velvet and leather-bound reproduction of the 1797 “Imperial Decree on the Russian Chevalier Orders,” issued by L.S. Pavel. Recd—May 15, 2004. Est. Value—$3850. Archives, Staff Gift His Excellency Igor Ivanov, Minister for Foreign Affairs of the Russian Federation Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Household (3): Archimede Seguso Gold Collection hand-blown Murano glass set (pair of 14″ x 5″ candlesticks and a footed 9″ x 10″ fruit compote). Recd—May 19, 2004 Est. Value—$2200 Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs. Jewelry: 1/2 ″ x 1 7/8 ″ 18kt gold mask pendant with emerald and diamonds held on a 16 1/2 ″ gold wire band. Recd—May 26, 2004. Est. Value—$650. Government Property His Excellency El Hadj Omar Bongo Ondimba, President of the Gabonese Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Household: 11 1/4 ″ x 10″ Archimede Seguso Gold Collection hand-blown Murano glass melon-ribbed vase. Recd—June 5, 2004. Est. Value—$850. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Accessory: 50″ x 74″ red-orange Gobi cashmere throw with 4″ fringe. Recd—July 19, 2004. Est. Value—$125. Government Property His Excellency N. Bagabandi, President of Mongolia and Mrs. A. Oyunbileg Non-acceptance would cause embarrassment to donor and U.S. Government. Household: 4 7/8 ″ x 2 1/4 ″ footed silver bowl with relief design and inset turquoise stones; etched with donor's name, title and date. Recd—July 19, 2004. Est. Value—$200. Government Property Rice, Condoleezza, Assistant to the President for National Security Affairs Household items (2): 24″ x 65″ woven pink and black silk matching table runners; pattern is an intricate thread design studded with rhinestones and gold thread accent and 4″ fringe. Recd—July 19, 2004. Est. Value—$500. Government Property His Excellency George A. Obiozor, Ambassador of the Federal Republic of Nigeria Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Desk accessory: Aurora Optima marbled blue (Auroloid) fountain pen with 14kt gold nib, jewel clip and gold-plated trim. Recd—December 8, 2004. Est. Value—$295. Government Property His Excellency Giovanni Castellaneta, Diplomatic Advisor to the Prime Minister of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Household: 77″ x 52″ purple, orange, yellow and black woven cloth with 7 1/2 ″ tassels. Recd—December 8, 2004. Est. Value—$345. Government Property His Excellency Kay Rala Xanana Gusmao, President of The Democratic Republic of Timor-Leste Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Accessories (2): 35″ square E. Marinella silk scarf in peach, brown and blue pattern; and an 18 1/2 ″ x 68″ wool and silk blend shawl in various colors. Recd—December 15, 2004. Est. Value—$587. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Rice, Condoleezza, Assistant to the President for National Security Affairs Jewelry: pair of 18kt yellow gold Damiani twisted coil earrings with diamonds. Recd—December 15, 2004. Est. Value—$2550. Archives, Staff Gift His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Jewelry: 18kt yellow gold and diamond Damiani necklace in swirl design, Recd—December 15, 2004. Est. Value—$6000 Archives, Staff Gift Rice, Condoleezza, Assistant to the President for National Security Affairs Household: 20 1/2 ″ x 16″ yellow and black ottoman-style leather chest with hinged lid; padded interior with a two-tiered leather lined wood tray. Recd—December 17, 2004. Est. Value—$280. Government Property His Excellency Zine El Abidine Ben Ali, President of the Republic of Tunisia Non-acceptance would cause embarrassment to donor and U.S. Government. Consumables: approximately 10 pounds of dates. Recd—December 17, 2004. Est. Value—$60. Handled pursuant to Secret Service policy Rice, Condoleezza, Assistant to the President for National Security Affairs Household (3): 2 3/4 ″ x 2″ silver urns in the style of ancient pottery. Recd—December 22, 2004. Est. Value—$250. Government Property Their Majesties King Abdullah II and Queen Rania al Abdullah of the Hashemite Kingdom of Jordan Non-acceptance would cause embarrassment to donor and U.S. Government. Jewelry: 2 1/4 ″ round silver and turquoise pin. Recd—December 22, 2004. Est. Value—$75. Government Property Miscellaneous: bound notebook with silver page marker. Recd—December 22, 2004 Est. Value—$32 Government Property Rove, Karl, Senior Advisor to the President Accessories (4): E. Marinella silk twill neckties. Recd—June 4, 2004. Est. Value—$540. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Volker, Kurt, Director for NATO and Western European Affairs National Security Council Accessories (4): E. Marinella silk twill neckties. Recd—June 4, 2004. Est. Value—$540. Government Property His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. AGENCY: Office of the Vice President [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Vice President Chopard “Happy Day” clock. Recd—January 24, 2004. Est. Value—$465. Archives Foreign His Excellency Joseph Deiss, President of the Swiss Confederation Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Eleven E. Marinella silk neckties. Recd—January 26, 2004. Est. Value—$1,485. Archives Foreign His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. One E. Marinella silk necktie. Recd—January 26, 2004. Est. Value—$135. Archives Foreign Vice President and Mrs. Cheney Fruit compote, two candle sticks, and large bowl of gold Murano glass signed by the artist, Archimede Seguso. Recd—January 26, 2004. Est. Value—$750. Archives Foreign His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Mrs. Cheney Woman's silver necklace by Damiani with gray pearls and diamond centerpiece. Recd—January 26, 2004. Est. Value—$2000. Archives Foreign His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Mantel clock of silver and marble Recd—February 9, 2004. Est. Value—$1500. Archives Foreign His Highness Shaikh Salman Bin Hamad Al Khalifa, Crown Prince and Commander in Chief of the Bahrain Defense Force Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Hand knotted wool pile rug in red, dark blue, green, turquoise and cream. A central red ground medallion with scattered geometric patterns, approximately 8'' x 10''. Recd—February 18, 2004. Est. Value—$3600. Archives Foreign His Excellency Zine El Abidine Ben Ali, President of the Republic of Tunisia Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Out of print copy limited issue of, The Art of War by Golden Treasure Books (Xiyuan Publishing House) presented in an ornate dark wooden box. Includes a silver chop
(seal)in clear acrylic box. Recd—April 14, 2004. Est. Value—$3600. Archives Foreign His Excellency Zeng Qinghong, Vice President of the People's Republic of China Non-acceptance would cause embarrassment to donor and U.S. Government. Book entitled, Selected Porcelain of the Flourishing Qing Dynasty at the Palace Museum, by Forbidden City Publishing House. Recd—April 14, 2004. Est. Value—$44. Archives Foreign Mrs. Cheney Chinese silk material in shades of yellow, orange and lime green. Approximately 3.5 yards. Recd—April 14, 2004. Est. Value—$105. Archives Foreign His Excellency Zeng Qinghong, Vice President of the People's Republic of China Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Paskche gilt-on-bronze incense burner; reproduction of national treasure housed in the Puyo National Museum. Recd—April 15, 2004. Est. Value—$450. Archives Foreign His Excellency Goh Kun, Acting President and Prime Minister Republic of Korea Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Mont Blanc pen set; silver with blue stone, engraved with Jordanian coat of arms. Recd—May 6, 2004. Est. Value—$450. Archives Foreign His Majesty King Abdullah II bin al Hussein of the Hashemite Kingdom of Jordan Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Sterling silver sword. Recd—June 8, 2004. Est. Value—$500. Archives Foreign His Excellency Ali Abdullah Saleh, President of the Republic of Yemen Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President 18K white gold cufflinks with Arabic lettering symbolizing good fortune and health. Recd—June 15, 2004. Est. Value—$400. Archives Foreign His Majesty King Abdullah II bin al Hussein of the Hashemite Kingdom of Jordan Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Sterling silver incense burner on silver and sodalite tray. Recd—July 7, 2004. Est. Value—$1500. Archives Foreign His Excellency Maqbool Bin Ali Sultan, Minister of Commerce and Industry Oman Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Beige cashmere sweater, made in Mongolia, size XL. Recd—July 20, 2004. Est. Value—$297. Archives Foreign His Excellency Natsagiin Bagabandi. President of Mongolia Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President and Mrs. Cheney Hand-made, sculpted crystal elephant by Daum. Recd—December 6, 2004. Est. Value—$725. Archives Foreign His Excellency Salem Abdallah Al-Jabir Al-Sabah and Mrs. Rima Al-Sabah, Embassy of Kuwait Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Six E. Marinella men's neckties. Recd—May 20, 2004. Est. Value—$810. Archives Foreign His Excellency Silvio Berlusconi, President of the Council of Ministers of the Italian Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Sterling silver bowl and lid decorated with repousse and engraving in a floral design. Recd—January 28, 2004. Est. Value—$350. Archives Foreign His Excellency Recep Tayyip Erdogan, Prime Minister of the Republic of Turkey Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President and Mrs. Cheney Limoges plate with gold trim, maroon and ivory design with Arabic inscription and a wooden plate stand. Recd—August 23, 2004. Est. Value—$200. Archives Foreign His Majesty King Abdullah II bin al Hussein of the Hashemite Kingdom of Jordan. Non-acceptance would cause embarrassment to donor and U.S. Government. Pottery vanity set: black hand towel holder and soap dish with three embroidered hand towels. Recd—August 23, 2004. Est. Value—$166. Archives Foreign Two pottery containers with wicker tops for holding herbs. Measures 5″ x 3″. Recd—August 23, 2004. Est. Value—$50. Archives Foreign Six-inch square wooden box with floral stone mosaic cover for herb storage. Recd—August 23, 2004. Est. Value—$29. Archives Foreign Pottery incense burner and box. Recd—August 23, 2004. Est. Value—$30. Archives Foreign Six blue tea glasses with gold trim. Recd—August 23, 2004. Est. Value—$42. Archives Foreign Six-inch square silk pillow with gold tassels. Recd—August 23, 2004. Est. Value—$29. Archives Foreign CD of Jordanian music by Sakher Hattan. Recd—August 23, 2004. Est. Value—$15. Archives Foreign Four scented pillar candles, 4″ high. Recd—August 23, 2004. Est. Value—$36. Handled pursuant to Secret Service policy Vice President Wood and brass presentation box containing bronze reproduction of “Ding” pot, representing power, prosperity and peace. Recd—January 6, 2004. Est. Value—$500. Archives Foreign His Excellency Wen Jiabao, Premier of the People's Republic of China Non-acceptance would cause embarrassment to donor and U.S. Government. Vice President Framed oil painting of St. George slaying a dragon, Bulgarian style with gold leaf work. Recd—February 26, 2004. Est. Value—$200. Archives Foreign His Excellency Solomon Passy, Minister of Foreign Affairs of the Republic of Bulgaria Non-acceptance would cause embarrassment to donor and U.S. Government. Gold medallion commemorating the 100th Anniversary of the establishment of diplomatic relations between the U.S. and Bulgaria. Recd—February 26, 2004. Est. Value—$250. Archives Foreign Vice President and Mrs. Cheney Wool on cotton carpet measuring 77″; by 61″, rust background, with cruciform stylized foliate medallion, three borders. Recd—December 7, 2004. Est. Value—$1,000. Archives Foreign His Excellency Hamid Karzai, President of Afghanistan Non-acceptance would cause embarrassment to donor and U.S. Government. Wool on cotton carpet measuring 78″ by 57″, yellow background with red, tan, and green stylized floral decoration, four borders. Recd—December 7, 2004. Est. Value—$1000. Archives Foreign Embroidered beige cotton tablecloth with twelve napkins. Recd—December 7, 2004. Est. Value—$150. Archives Foreign Vice President Framed silver plaque with repousse decoration of a temple scene with an elephant and oxen pulling a cart. Recd—December 17, 2004. Est. Value—$225. Archives Foreign His Excellency Phanthong Phommahaxay, Ambassador of the Lao People's Democratic Republic Non-acceptance would cause embarrassment to donor and U.S. Government. Polychrome woven silk sash, measuring 80″ by 15.″ Recd—December 17, 2004. Est. Value—$200. Archives Foreign Vice President and Mrs. Cheney Twenty-one medals, gold plated on brass, depicting the Mysteries of the Rosary, with a large central medal of the Madonna. Small medals measure 1.75″ in diameter. Medals are displayed in a sealed plexi-glass case. Recd—January 27, 2004. Est. Value—$627. Archives Foreign His Holiness John Paul, II, The Holy See Non-acceptance would cause embarrassment to donor and U.S. Government. Mrs. Cheney Silver rosary with mother-of-pearl beads, blessed by Pope John Paul II. Recd—January 27, 2004. Est. Value—$75. Retained (souvenir or mark of courtesy) His Holiness John Paul, II, The Holy See Non-acceptance would cause embarrassment to donor and U.S. Government. AGENCY: Department of State [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Colin L. Powell, The Secretary of State of the United States Ottoman, two color leather, 20th century. Date Received: 1/13/2004. Estimated Value: $350.00. Disposition: Pending transfer to the General Service Administration Ben An, President of the Government of Tunisia Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Painting, watercolor and mixed media, 21″ x 26 1/2 ″, Tbilisi, by Gega Kutateladze, 2003, framed $250, bottle of wine in silver plated overlay bottle $100. Date Received: 1/25/2004. Estimated Value: $350.00. Disposition: Pending transfer to the General Services Administration Eduard Shevardnadze, President of Georgia Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Carpet, 93 1/2 ″ x 62 1/2 ″, black background with ‘King Tut.’ Date Received: 2/3/2004. Estimated Value: $400.00. Disposition: Pending transfer to the General Services Administration Field Marshall Hussein Tantawi, Commander in Chief of the Egyptian Armed Forces, Egypt Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Carriage clock, silver plate and enamel, by William & Son $2,000, pair cufflinks sterling silver and enamel $250. Date Received: 2/9/2004. Estimated Value: $2,250.00. Disposition: Pending transfer to the General Services Administration Shaykh Salman bin Hamad bin Isa Al Khalifa, Crown Prince of the Kingdom of Bahrain Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Rosewater bottle and incense burner, silver filigree, late 20th century, 34ozsT. Date Received: 2/17/2004. Estimated Value: $1,000.00. Disposition: Pending transfer to the General Services Administration His Excellency Zine El-Abidine Ben Ali President of the Republic of Tunisia Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Bowl, 8 1/4 ″L x 4 3/8 ″H, cut crystal, “Tornado” by Orrefors, 20th century. Date Received: 2/17/2004. Estimated Value: $300.00. Disposition: Pending transfer to the General Services Administration Laila Freivalds, Foreign Minister, Sweden Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Vase, 18 1/8 ″H, marquetry of various semiprecious stones including lapis lazuli, jasper, sard and agate. Date Received: 3/11/2004. Estimated Value: $1,250.00. Disposition: Pending transfer to the General Services Administration Hamid Karzai, President of the Transitional Islamic State of Afghanistan Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Rugs, 36″ x 23 1/2 ″, wool on cotton, hand woven $300, 2 shawls with silk embroidery $130. Date Received: 3/17/2004. Estimated Value: $430.00. Disposition: Pending transfer to the General Services Administration Mohammedmian Soomro, Chairman of the Senate, Pakistan Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Roll top butter dish, 7″ diameter, repoussed and chased silver, set with 4 lapis lazuli cabochons and 8 turquoise cabochons 7mm x 6mm, 20th century. Date Received: 3/18/2004. Estimated Value: $450.00. Disposition: Pending transfer to the General Services Administration Pervez Musharraf, President of the Islamic Republic of Pakistan Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Pair cufflinks 18 karat yellow gold each set with 5 round diamonds TW 16 points both Chopard ($1800), Wristwatch mans 18 karat yellow gold case with date Chopard 1026 924-2248 black alligator strap ($8,100). Date Received: 3/20/2004. Estimated Value: $9,900.00. Disposition: Pending transfer to the General Services Administration Sheikh Jabir al-Ahmad Al Sabah, Emir of the State of Kuwait Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Brown leather attaché case ($450), belt frontispiece 18 karat yellow gold chain mail 9ozsT ($4,000), ring 18 karat yellow gold set with 5 round diamonds TW 8 points Chopard ($2,000). Date Received: 3/20/2004. Estimated Value: $6,450.00. Disposition: Pending transfer to the General Services Administration Sheikh Jabir al-Ahmad Al Sabah, Emir of the State of Kuwait Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Desk set, leather, by Dacoma. Date Received: 4/15/2004. Estimated Value: $650.00. Disposition: Pending transfer to the General Services Administration Mircea Dan Geoana, Foreign Minister of Romania as part of the Social Democratic Party Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Desk set, sterling silver and slag glass, four open boxes. Date Received: 4/20/2004. Estimated Value: $550.00. Disposition: Pending transfer to the General Services Administration Franco Frattini, Minister of Foreign Affairs of the Italian Republic, Italy Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Pen, platinum plated metal, with watch in handle, Cartier “Stylo d'Exception”, #180/2000, boxed. Date Received: 4/27/2004. Estimated Value: $750.00. Disposition: Pending transfer to the General Services Administration Shaikh Hamad bin Jasim bin Jabir Al Thani, Minister of Foreign Affairs of the State of Qatar Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Desk set, sterling silver and mother of pearl, letter opener and magnifying glass, 20th century. Date Received: 5/6/2004. Estimated Value: $350.00. Disposition: Pending transfer to the General Services Administration King Abdullah II Bin al Hussein, King of the Hashemite Kingdom of the Jordan Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Charger, 12″ diameter, sterling silver repousse, 20th century, 17ozsT. Date Received: 5/12/2004. Estimated Value: $350.00. Disposition: Pending transfer to the General Services Administration Lakshman Kadirgamar, Minister, Government of Sri Lanka Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Sculpture, 11″H, sterling silver, traditional luzzu sailboat, late 20th century. Date Received: 5/20/2004. Estimated Value: $2,000.00. Disposition: Pending transfer to the General Services Administration John Dalli, Minister of Finance and Economic Affairs, Malta Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Sculpture, 11″H, sterling silver, sailboat, late 20th century. Date Received: 5/22/2004. Estimated Value: $2,000.00. Disposition: Pending transfer to the General Services Administration Patricio Zuquilanda Duque, Minister of Foreign Relations, Ecuador Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Briefcase, tan leather $150, Book, Artistas Plasticos del Ecuador $45, Sculpture of a bird, sterling silver 12 oz $240. Date Received: 6/7/2004. Estimated Value: $435.00. Disposition: Pending transfer to the General Services Administration Patricio Zuquilanda Duque, Minister of Foreign Relations, Ecuador Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Cufflinks, 18 karat yellow gold, with Liberian insignia Date Received: 6/11/2004. Estimated Value: $750.00. Disposition: Pending transfer to the General Services Administration Gyude Bryant, Chairman of the National Transitional Government, Liberia Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Carpet, 6′6″ x 9′9″, wool on wool, Bokhara design. Date Received: 6/15/2004. Estimated Value: $2,500.00. Disposition: Pending transfer to the General Services Administration Hamid Karzai, President of the Transitional Islamic State of Afghanistan Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Bowl, burlwood with silver mounts set with turquoise cabochons 6 mm. $250, together with a “V” neck maroon cashmere sweater XL $350. Date Received: 7/4/2004. Estimated Value: $600.00. Disposition: Pending transfer to the General Services Administration His Excellency Natsagiyn Bagabandi, President of Mongolia Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Jewelry, woman's, 18 karat white gold set with diamonds, Bulgari Necklace set with 64 round diamonds TW 6.4 carats, ring set with 6 round diamonds TW 60 points, pair diamonds TW 1.2 both. Date Received: 7/28/2004. Estimated Value: $24,500.00. Disposition: Pending transfer to the General Services Administration Aziz-Jeddah, Kingdom of Saudi Arabia Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Coffee pot, 9 5/8″H, sterling silver with gold wash, 16ozsT. Date Received: 7/28/2004. Estimated Value: $400.00. Disposition: Pending transfer to the General Services Administration Prince Faisal, Government of Saudi Arabia Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Sculpture, 7″H x 9 3/4 ″L, 18 karat yellow gold oasis scene with two camels, two figures, tent and palm trees, stone base, fitted case. Date Received: 7/28/2004. Estimated Value: $8,500.00. Disposition: Pending transfer to the General Services Administration Aziz-Jeddah, Kingdom of Saudi Arabia Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Books, 2 volumes, “Journal d'un Voyage fait dans I'lnterieur de I'Amerique Septentrionale”, Villette, 1793. Date Received: 10/1/2004. Estimated Value: $900.00. Disposition: Pending transfer to the General Services Administration Nicolas Sarkozy, Minister, Government of France Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Book, China History Culture Treasure $225, ten compact disks of Chinese folk music, $150. Date Received: 10/1/2004. Estimated Value: $375.00. Disposition: Pending transfer to the General Services Administration Li Zhaoxing, Minister of Foreign Affairs of the People's Republic of China Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Oil painting on canvas of purple flower with green background entitled “Flamboyant Nation” by artist Roger Brathwaite. Date Received: 10/5/2004. Estimated Value: $600.00. Disposition: Pending transfer to the General Services Administration Dr. Keith C. Mitchell, Prime Minister of Grenada Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Bottle of wine, Madeira from the Masandra cellar, 1937. Date Received: 11/15/2004. Estimated Value: $250.00. Disposition: Pending transfer to the General Services Administration Honorable Volodymyr Lytvyn, Speaker of the Verhovna Rada, Ukraine Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Replica Sword, 42 1/2 ″L overall, brass sheathed scabbard and hilt, engraved blade. Date Received: 11/15/2004. Estimated Value: $200.00. Disposition: Pending transfer to the General Services Administration Honorable Volodymyr Lytvyn, Speaker of the Verhovna Rada, Ukraine Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Double tear jar, 2 1/2 ″H with later silver mounts, Roman Period 63 BCE-330 CE, fitted case. Date Received: 11/22/2004. Estimated Value: $300.00. Disposition: Pending transfer to the General Services Administration Ariel Sharon, Prime Minister of Israel Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Figure, 7 1/4 ″H, Waterford crystal eagle with spread wings, Ireland, 20th/21st century. Date Received: 12/7/2004. Estimated Value: $400.00. Disposition: Pending transfer to the General Services Administration Salem Al-Sabah, Ambassador of the state of Kuwait and Mrs. Salem Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Cufflinks, 9 karat yellow gold, each a blue enamel oval with Belgian coat of Arms. Date Received: 12/8/2004. Estimated Value: $375.00. Disposition: Pending transfer to the General Services Administration Karel De Gucht, Foreign Minister, Belgium Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Ottoman, two color leather, 20th century. Date Received: 12/16/2004. Estimated Value: $350.00. Disposition: Pending transfer to the General Services Administration Ben AN, President of the Government of Tunisia Non-acceptance would cause the donor or the U.S. Government embarrassment. Colin L. Powell, The Secretary of State of the United States Four bottles of Olive oil, chocolate assortment, olive oil and thyme, wood box containing two candles, two small notebooks, pendant, two jars of candies, 3 silver plates, miniature vessels, Rosenthal Porcelain plate 8 1/2 ″ square 2004-5. Date Received: 12/16/2004. Estimated Value: $1,850.00. Disposition: Pending transfer to the General Services Administration King Abdullah II bin al Hussein and Queen Rania, King and Queen, Jordan Non-acceptance would cause the donor or the U.S. Government embarrassment. Mary Masserini, Protocol Officer—U.S. Department of State Watch—Ladies Maurice La Croix: Stainless steel model MM013-SS002-310 Date Received: 2/25/2004. Over Minimum Value. Disposition: Pending transfer to the General Services Administration Shaikh Salman Bin Hamad Al-Khalifa, Crown Prince and Commander-in-Chief of the Bahrain Defense Force, Bahrain Non-acceptance would cause the donor or the U.S. Government embarrassment. William J. Burns, Assistant Secretary of State Cufflinks—sterling silver and Medallion—gold plated 4″ diameter. Date Received: 2/12/2004. Over Minimum Value. Disposition: Pending transfer to the General Services Administration Shaikh Salman Bin Hamad Al-Khalifa, Crown Prince and Commander-in-Chief of the Bahrain Defense Force, Bahrain Non-acceptance would cause the donor or the U.S. Government embarrassment. Francis X. Taylor, Assistant Secretary of State for Diplomatic Security Gold Inlaid Statue. Date Received: 6/29/2004. Over Minimum Value. Disposition: Pending transfer to the General Services Administration Mohamed Al-Nassr, Security Attaché, Embassy of Qatar Non-acceptance would cause the donor or the U.S. Government embarrassment. Kenneth D. Ward, Deputy to the Senior Weapons of Mass Destruction Representative, Libya Swiss Omade Rado wristwatch Date Received: 9/19/2004. Over Minimum Value. Disposition: Pending transfer to the General Services Administration Abdullah Senoussi, Government Official, Ministry of Foreign Affairs, Libya Non-acceptance would cause the donor or the U.S. Government embarrassment. Marcelle M. Wahba, U.S. Ambassador to the United Arab Emirates 18 kt gold necklace, bracelet, ring, and earrings (Damas). Date Received: 6/1/2004. Over Minimum Value. Disposition: Pending transfer to the General Services Administration Sheikh Saqr bin Muhammad al Qasimi, Ruler of Ras al-Khaimah, United Arab Emirates Non-acceptance would cause the donor or the U.S. Government embarrassment. Marcelle M. Wahba, U.S. Ambassador to the United Arab Emirates 22 kt. rose gold ring with diamonds (Giovanni Ferraris). Date Received: 6/7/2004. Over Minimum Value. Disposition: Pending transfer to the General Services Administration Shaykha Saif, Wife of Shaykha Sultan bin Khalifa, Member of the Executive Council and Chairman of the Abu Dhabi Crown Prince's Office, United Arab Emirates Non-acceptance would cause the donor or the U.S. Government embarrassment. Richard L. Baltimore, III, Ambassador Carpet—3 x 5. Date Received: 5/8/2004. Estimated Value: $1,235.00. Disposition: Pending transfer to the General Services Administration Yahya, Yahya, Business/PR Director, Saudi bin Laden Construction, Saudi Arabia Non-acceptance would cause the donor or the U.S. Government embarrassment. Tracey Ann Jacobson, U.S. Ambassador to Turkmenistan Gold necklace and earrings. Date Received: 8/27/2004. Over Minimum Value. Disposition: Pending transfer to the General Services Administration Huda Al Midfa, Wife of United Arab Emirates Ambassador Hassan Abdullah Al Adhab, United Arab Emirates Non-acceptance would cause the donor or the U.S. Government embarrassment. Tracey Ann Jacobson, U.S. Ambassador to Turkmenistan Gold watch Date Received: 10/20/2004. Over Minimum Value. Disposition: Pending transfer to the General Services Administration Saparmurat Niyazov, President of Turkmenistan Non-acceptance would cause the donor or the U.S. Government embarrassment. AGENCY: Department of Defense [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance The Honorable Donald H. Rumsfeld, Secretary of Defense Gold Bracelet and Silver Lamp. Date Received: 1/20/2004. Est. Value: $180.00 and $250.00, respectively. Total Value: $430.00. Disposition: Transferred to General Services Administration Field Marshal Mohamed Hussein Tantawi, Commander in Chief of the Armed Forces, Minister of Defense and Military Production of the Arab Republic of Egypt Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Clock and Cuff Links. Date Received: 2/18/2004. Est. Value: $270.00 and $100.00, respectively. Total Value: $370.00. Disposition: Transferred to General Services Administration His Highness Prince Salman bin Hamad Al-Khalifa, The Crown Prince and Commander, Bahrain Defense Force, Kingdom of Bahrain Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Marble Flower Vase. Date Received: 2/23/2004. Est. Value: $400.00. Disposition: Transferred to General Services Administration His Excellency Hamid Karzai, President of the Islamic State of Afghanistan Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Sword and Shawl. Date Received: 2/24/2004. Est. Value: $250.00 and $65.00, respectively. Total Value: $315.00. Disposition: Transferred to General Services Administration His Excellency Kadir Gulamov, Minister of Defense of the Republic of Uzbekistan Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Medallion, Book of Mosaics and a Mosaic. Date Received: 3/15/2004. Est. Value: $50.00, $59.00 and $1,000.00, respectively. Total Value: $1,109.00. Disposition: Transferred to General Services Administration His Excellency Dali Jazi, Minister of Defense of the Republic of Tunisia Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Plaque, Caviar, Carpet and Tea Set. Date Received: 3/26/2004. Est. Value: $20.00, $300.00, $1,200.00 and $225.00. Total Value: $1,745.00. Disposition: Transferred to General Services Administration His Excellency Safar Abiyev, Minister of Defense of the Republic of Azerbaijan Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Saber and Model Ship. Date Received: 3/31/2004. Est. Value: $640.00 and $1,000.00, respectively. Total Value: $1,640.00. Disposition: Transferred to General Services Administration His Excellency Sheikh Jabir Mubarak al-Hamad Al-Sabah, Deputy Prime Minister and Minister of Defense of the State of Kuwait Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Ceramic Desk Set Date Received: 5/27/2004. Est. Value: $390.00. Disposition: Transferred to General Services Administration His Excellency Jose Bono Martinez, Minister of Defense, Spain Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Silver Cuff Links and Gold Stickpin. Date Received: 6/20/2004. Est. Value: $260.00 and $40.00, respectively. Total Value: $300.00. Disposition: Transferred to General Services Administration. His Majesty King Abdullah bin al-Hussein, King of The Hashemite Kingdom of Jordan Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Glass Sword and Wood Carving of Grapes Plaque. Date Received: 6/26/2004. Est. Value: $25.00, $250.00 and $65.00, respectively. Total Value: $340.00. Disposition: Transferred to General Services Administration His Excellency Victor Gaiciuc, Minister of Defense of the Republic of Moldova Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense 3′ Sword with Wall Mount and Book of Fairy Tales. Date Received: 8/9/2004. Est. Value: $1,250.00 and $50.00, respectively. Total Value: $1,300.00. Disposition: Transferred to General Services Administration His Excellency Soren Gade, Minister of Defense, Denmark Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Desk Clock Mounted on a Crystalline. Date Received: 8/9/2004. Est. Value: $360.00. Disposition: Transferred to General Services Administration His Excellency Marek Belka, Prime Minister, Poland Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Handcrafted Lapis Metal Box. Date Received: 8/11/2004. Est. Value: $325.00. Disposition: Transferred to General Services Administration His Excellency Hamid Karzai, President of the Islamic State of Afghanistan Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Bottle of Wine, Lavadia Rose Muscat and a Bottle of Wine, Massandra. Date Received: 8/13/2004. Est. Value: $600.00 and $600.00, respectively. Total Value: $1,200.00. Disposition: Transferred to General Services Administration His Excellency Leonid Kuchma, President, Ukraine Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Bottle of Wine, 1954 and Framed Coin Set. Date Received: 8/14/2004. Est. Value: $190.00 and $260.00, respectively. Total Value: $450.00. Disposition: Transferred to General Services Administration His Excellency Yevhan Marchuk, Minister of Defense, Ukraine Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Large Silver Palm Tree in Glass Case. Date Received: 10/10/2004. Est. Value: $350.00. Disposition: Transferred to General Services Administration His Excellency Iyad Allawi, Prime Minister of the Interim Government of Iraq Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Icon of Jesus. Date Received: 10/11/2004. Est. Value: $600.00. Disposition: Transferred to General Services Administration His Excellency Branko Crvenkovski, President of the Former Yugoslavia Republic of Macedonia Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Framed Picture, Titled “Weeds and Insects,” 60″ x 14″. Date Received: 10/22/2004. Est. Value: $380.00. Disposition: Transferred to General Services Administration His Excellency Yoon Kwang-woong, Minister of National Defense, Republic of Korea Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Rug, 9′ x 10′. Date Received: 12/9/2004. Est. Value: $320.00. Disposition: Transferred to General Services Administration His Excellency Hamid Karzai, President of the Islamic State of Afghanistan Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense 5 Jars of Caspian Caviar and Glass Decanter of Brandy. Date Received: 12/11/2004. Est. Value: $625.00 and $85.00 respectively. Total Value: $710.00. Disposition: Transferred to General Services Administration His Excellency Safar Abiyev, Minister of Defense of the Republic of Azerbaijan Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Donald H. Rumsfeld, Secretary of Defense Aromatherapy Gift Set and Assorted Olive Oils. Date Received: 12/22/2004. Est. Value: $380.00 and $110.00, respectively. Total Value: $490.00. Disposition: Transferred to General Services Administration His Majesty King Abdullah bin al-Hussein and Her Majesty Queen Rania of The Hashemite Kingdom of Jordan Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Paul Wolfowitz, Deputy Secretary of Defense 5′ x 8′ Egyptian King Tut Rug. Date Date Received: 1/27/2004. Est. Value: $400.00. Disposition: Transferred to General Services Administration Reid Marshal Mohamed Hussein Tantawi, Commander in Chief of the Armed Forces, Minister of Defense and Military Production of the Arab Republic of Egypt Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Paul Wolfowilz, Deputy Secretary of Defense Chess Set and 4′ x 6′ Kurdish Rug. Date Received: 6/17/2004. $140.00 and $450.00, respectively. Total Value: $590.00. Disposition: Transferred to General Services Administration Jalal Talabani, Secretary General of the Patriotic Union of Kurdistan Non-acceptance would have caused embarrassment to donor and U.S. Government. General Richard B. Myers, Chairman, Joint Chiefs of Staff Painting. Date Received: 4/12/2004. Est. Value: $550.00. Disposition: Transferred to General Services Administration His Excellency Sheikh Jabir Mubarak al-Hamad Al-Sabah, Deputy Prime Minister and Minister of Defense of the State of Kuwait Non-acceptance would have caused embarrassment to donor and U.S. Government. General Richard B. Myers, Chairman, Joint Chiefs of Staff Silver Punch Bowl Set and Painting. Date Received: 4/12/2004. $340.00 and $550.00, respectively. Total Value: $890.00. Disposition: Transferred to General Services Administration His Excellency Sheikh Jabir Mubarak al-Hamad Al-Sabah, Deputy Prime Minister of Defense of the State of Kuwait Non-acceptance would have caused embarrassment to donor and U.S. Government. General Richard B. Myers, Chairman, Joint Chiefs of Staff Paekche Great Gilt-Bronze Incense Burner. Date Received: 10/21/2004. Est. Value: $290.00. Disposition: Transferred to General Services Administration. General Kim Jong il, General Secretary Korean Workers Party Hwan-CJCS ROK Non-acceptance would have caused embarrassment to donor and U.S. Government. General Richard B. Myers, Chairman, Joint Chiefs of Staff Jewelry Set (Necklace, Bracelet Ring and Earring). Date Received: 12/1/2004. Est. Value: $540.00. Disposition: Transferred to General Services Administration Lieutenant General Hamdy Moustafa Weheba, Chief of Staff of The Egyptian Armed Forces Non-acceptance would have caused embarrassment to donor and U.S. Government. General Richard B. Myers, Chairman, Joint Chiefs of Staff Gift Set in Wood Box. Date Received: 12/23/2004. Est. Value: $380.00. Disposition: Transferred to General Services Administration His Majesty King Abdullah bin al-Hussein, King of The Hashemite Kingdom of Jordan Non-acceptance would have caused embarrassment to donor and U.S. Government. The Honorable Douglas J. Feith, Under Secretary of Policy 5′ x 8′ Egyptian King Tut Rug. Date Received: 1/15/2004. Est. Value: $400.00. Disposition: Transferred to General Services Administration. Field Marshal Mohamed Hussein Tantawi, Commander in Chief of the Armed Forces, Minister of Defense and Military Production of the Arab Republic of Egypt Non-acceptance would have caused embarrassment to donor and U.S. Government. Lieutenant General Tome H. Walters, Jr., Director, Defense Security Cooperation Agency Oil Painting on Canvas by the Artist Ghiorczyk. Date Received: 4/4/2004. Est. Value: $350.00. Disposition: Transferred to General Services Administration Jerzy Szmajdzinski, Minister of Defense, Republic of Poland Non-acceptance would have caused embarrassment to donor and U.S. Government. Mira Ricardel, Acting Assistant Secretary of Defense, International Security Policy Pearl Necklace. Date Received: 10/15/2003. Est. Value: $450.00. Disposition: Transferred to General Services Administration Vlado Buckovski, Minister of Defense of the Former Yugoslavia Republic of Macedonia Non-acceptance would have caused embarrassment to donor and U.S. Government. Major General Thomas J. Romig, Judge Advocate General Picture of Forest Made with Various Color Granulates and Chips of Stone Encased in Solid Marble Frame and Wood Shaped Swan Punch Bowl with Eight Ladle Cups, Black with Gold Beak. Date Received: 9/14/2004. Est. Value: $125.00 and $210.00, respectively. Total Value: $335.00. Disposition: Transferred to General Services Administration General-Colonel Valeriy Inanovich Marchenkov, President of the Military University Non-acceptance would have caused embarrassment to donor and U.S. Government. Major General Thomas J. Romig, Judge Advocate General Etching of Mockba, Moscow by A.H. Cabettcoba, Porcelain Hand Painted Picture With Inscription “APXAHTEn6CKO on back C$M Mockba with Newspaper Article, Green Marble Egg with Black Etching of a Christian symbolism of a Woman and Child with Green Marble Base, Pewter Statute of a Russian Solkier with Marble Base (Green), Green Metal Cantee of BOflKA NEXOTHAH Liqueur, 1995 Inkerman White Wine with the Words “XCEMHYXOIHA”, 2000 Inkerman Cabernet Wine with the Words “KABEPHE”, Porcelain Vase (POCCKfl) Pattern, Sterling Silver Brocade Pattern Saucer, Paperback Two Volume Book Set On Russian Art “Yue Haa Npuxomb”, Hardcover book “Strolls Around the Moscow Kremlin from Moscow Kremlin Museum, Hardcover Book by Boris Brodsky The Art Treasures from Moscow Museums', and Liqueur “KB KOHbflK PECny6JlNKA AareCTaH JleauHxa” Decorated Glass Carafe. Date Received: 9/14/2004. Est. Value: $85.00, $45.00, $125.00, $350.00, $25.00, $15.00, $15.00, $0.00, $10.00, $35.00, $25.00, $20.00 and $35.00, respectively. Total Value: $885.00. Disposition: Transferred to General Services Administration General-Colonel Alexander Savenkov, Deputy Attorney General of the Russian Federation and Senior Military Inspector General Non-acceptance would have caused embarrassment to donor and U.S. Government. AGENCY: United States Department of Agriculture [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Ann M. Veneman, U.S. Secretary of Agriculture A stone, probably serpentine, figure of a polar bear in a seated position. Inuit sculpture, it was carved in the cooperative of Puvirnituk located in northeastern Canada. As a registered Inuit sculpture the message “2003, Qumaluk 37464” is incised on the underside of the base. It is also marked “Canada, Ministry of Agriculture A475-AB CI-37465”. The maker is Tukgi Gumaluk. Received: February 11, 2004. Appraised Value: $650.00. Location: The item was returned to the USDA/FAS Foreign Visitor and Protocol Office to be processed for turn-in to General Services Administration Presented by Robert Speller, Minister of Agriculture, Canada Non-acceptance would have caused embarrassment to donor and U.S. Government. Ann M. Veneman, U.S. Secretary of Agriculture Inuit carving: Artist: Simionte Kanayuk, signed and dated 2002. Dark soapstone carving in the Cape Dorset style, of a polar bear with a seal in its mouth. 10″ long. Additional information on the base: “A804” and “Ct37311” and from the “Puvirnituk Community. Received: August 28, 2004. Appraised value: $850.00. Location: The item was returned to the USDA/FAS Foreign Visitor and Protocol Office to be processed for turn-in to General Services Administration Presented by the new Canadian Minister of Agriculture, Andrew Mitchell Non-acceptance would have caused embarrassment to donor and U.S. Government. James Butler, U.S. Department of Agriculture, Deputy Under Secretary for Farm and Foreign Agricultural Services Stone carving Artist: Irvin Head “Musk”, Manitoba artist. Soapstone carving of a raven. Signed. Height 5- 1/2 ″; Length 8”. Information also included on the base “Manitoba Arts” and “Woodlands Gallery”. Date Received: June 15, 2004. Appraised value: $650.00. Location: The item was returned to the USDA/FAS Foreign Visitor and Protocol Office to be processed for turn-in to General Services Administration Presented by Robert Speller, Minister of Agriculture, Canada, at the World Meat Congress meeting in Winnipeg, Canada Non-acceptance would have caused embarrassment to donor and U.S. Government. AGENCY: Department of Commerce [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Donald L. Evans, Secretary of Commerce White enameled Faberge style egg. Received Date: 4/21/2004. Estimated Value: $350.00. Disposition: Transferred to General Services Administration Elena Danilova, Deputy Minister of Economic Development and Trade for Russia Non-acceptance would have caused embarrassment to donor and U.S. Government. Samuel W. Bodman, Deputy Secretary of Commerce Lined Dark Green Velvet Men's robe with stitched gilt on front border and cuffs and emblem of Kazakhstan and sun with outline of bird and with tie belt. Received Date: 1/26/2004. Estimated Value: $300.00. Disposition: Transferred to General Services Administration Ambassador Kanat Saudabayev of Kazakhstan and Ms. Saudabayev Non-acceptance would have caused embarrassment to donor and U.S. Government AGENCY: Health and Human Services [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Tommy G. Thompson, Secretary of Health and Human Services Silver Saudi Coffee Pot (Dallah). Received Date: 4/10/2004. Estimated Value: $400.00. Disposition: Transferred to General Services Administration Dr. Hamad bin Abdallah al-Manai, Minister of Health of Saudi Arabia Non-acceptance would have caused embarrassment to donor and U.S. Government. Tommy G. Thompson, Secretary of Health and Human Services Black Cloak with Gold Embroidery. Received Date: 4/6/2004. Estimated Value: $1,350.00. Disposition: Transferred to General Services Administration Prince Abd al-Aziz bin Fahd bin Abd al-Aziz Al Saud, Minister of State of Saudi Arabia Non-acceptance would have caused embarrassment to donor and U.S. Government. Tommy G. Thompson, Secretary of Health and Human Services Edo cut glass vase in wooden presentation box. Received Date: 3/22/2004. Estimated Value: $410.00. Disposition: Transferred to General Services Administration Toshihiro Nikai, Minister of Economy, Trade and Industry of Japan Non-acceptance would have caused embarrassment to donor and U.S. Government. Tommy G. Thompson, Secretary of Health and Human Services Swarovski Crystal Candleholder. Received Date: 1/15/2004. Estimated Value: $390.00. Disposition: Transferred to General Services Administration World Economic Forum in Davos, Switzerland Non-acceptance would have caused embarrassment to donor and U.S. Government. Tommy G. Thompson, Secretary of Health and Human Services African Robe and Matching Hat. Received Date: 1/13/2004. Estimated Value: $350.00. Disposition: Transferred to General Services Administration Albert Mabri Toikeuse, Ivorian Minister of Health Non-acceptance would have caused embarrassment to donor and U.S. Government. AGENCY: Department of Energy [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance David Garman, Under Secretary of the Department of Energy Hardcover Book with 10 authentic coins by the Ministry of Science and Technology of the People's Republic of China. Book register #2,163 out of 5,000 authorized copies produced by Jin Quan Coin Culture Co, Ltd. Received Date: 5/14/2004. Estimated Value: $580.00. Disposition: Department of Energy for Official Use Xu Guanhua, Minister of Science and Technology, China Non-acceptance would have caused embarrassment to donor and U.S. Government. Kyle McSlarrow, Deputy Secretary of the Department of Energy Set of 6 cylinder shape goblets—Amber body and dome foot mounted in Sterling Silver Holder with silver twist stem. Received Date: 6/8/2004. Estimated Value: $750.00. Disposition: Transferred to General Services Administration Sergei Bogdanchikov, Rosneft President, Russia Non-acceptance would have caused embarrassment to donor and U.S. Government. AGENCY: Department of Homeland Security [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Tom Ridge, Secretary of Homeland Security Cuckoo Clock, Model MT 405-10. Received Date: 10/20/2004. Estimated Value: $528.00. Disposition: Gift returned to donor on January 18, 2005 Minister Otto Schily, German Ministry of the Interior Non-acceptance would have caused embarrassment to donor and U.S. Government. Tom Ridge, Secretary of Homeland Security Swarovski Binoculars. Received Date: 9/1/2004. Estimated Value: $524.00. Disposition: Gift returned to donor on December 27, 2004 Minister Ernst Strasser, Minister of the Interior of the Republic of Austria Non-acceptance would have caused embarrassment to donor and U.S. Government. AGENCY: United States Senate [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Senator Hillary Rodham Clinton Afghan Rug, Date Received 2004. Est. Value—Overvalue—exact value unknown, Location: Displayed in Member's Office in SR-468 His Excellency Hamid Karzai, President of the Transitional Islamic State of Afghanistan Non-acceptance would cause donor embarrassment. Senator Ted Stevens Silver desk set and decorative plate w/ stand and letter opener. January 21, 2004. Est. Value—Over $100. Location: Displayed in Member's Office in SH-522 King Hussein of Jordan Non-acceptance would cause donor embarrassment. Senator John Warner Table linens and crystal bowl from Tiffany and Company. January 12, 2004. Est. Value—$600. Disposition: Deposited with the Secretary of the Senate Ambassador Yang Jiechi of China and Ambassador Salem Al-Sabah Non-acceptance would cause donor embarrassment. Senator Thad Cochran Lapis box w/flip top, January 20, 2004, Est. Value—$300, Location: Displayed in SD-101 for official use Michelle Bachelet, Minister of Defense for Chile Non-acceptance would cause donor embarrassment. Senator Richard Lugar, Senate Foreign Relations Committee Large black rug w/image of King Tut. January 23, 2004. Est. Value—Over $100. Disposition: Deposited with the Secretary of the Senate Mohamed Hussein Tantawi, Commander in Chief of the Egyptian Armed Forces Non-acceptance would cause donor embarrassment. Senator Charles Grassley Silver L'Epee clock, February 2004, Est. Value—$540. Location: Displayed in Member's Office in SH-135 for official use Salman Bin Hamad Al Khalifa, Crown Prince and Commander-in-Chief of the Bahrain Defense Force Non-acceptance would cause donor embarrassment. Senator John Warner Scarf, March 20, 2004, Est. Value—$100. Disposition: Deposited with the Secretary of the Senate Unknown Non-acceptance would cause donor embarrassment. Senator John Warner Gold Plated Box, Est. Value—$200. Disposition: Deposited with the Secretary of the Senate Hamid Karzai, President of Afghanistan Non-acceptance would cause donor embarrassment. Senator John Warner Clock surrounded by jade and gold. March 20, 2004. Est. Value—$300. Disposition: Deposited with the Secretary of the Senate Muhammedmain Soomro, Chairman of the Senate of Pakistan Non-acceptance would cause donor embarrassment. Senator John Warner Silver Bowl. Est. Value—$200. Disposition: Deposited with the Secretary of the Senate President Pervez Musharraf of Pakistan Non-acceptance would cause donor embarrassment. Senator Carl Levin Book of the Collection of the Works of Mr. Mahmoud Farshcian. March 20, 2004. Est. Value—Over $100. Disposition: Deposited with the Secretary of the Senate Ambassador Mohammad Javad Zarif-Khonsari, Permanent Iranian representative to the United Nations Non-acceptance would cause donor embarrassment. Senator Richard Lugar Bronze ox Lamp from Jiangsu Province. July 21, 2004. Est. Value—Over $100. Disposition: Deposited with the Secretary of the Senate Li Yuanchao, Communist Party of China Jiangsu Committee Secretary Non-acceptance would cause donor embarrassment. Senator Edward Kennedy Tiled wall hanging mosaic, August 1, 2001. Est. Value—$1,500. Disposition: Displayed in Member's Office in SR-319 for official use President Abdelaziz Bouteflika of Algeria Non-acceptance would cause donor embarrassment. Senator Christopher J. Dodd Black carpet w/ the imprint of King Tut. March 2004. Est. Value—Unknown. Disposition: Deposited with the Secretary of the Senate Mohamed Hussein Tantawi, Minister of Defense of the Government of Egypt Non-acceptance would cause donor embarrassment. Robert Roach, Counsel and Chief Investigator, U.S. Senate Permanent Subcommittee on Investigations (Dem. Staff) Lunch for the Steering Group of the Cambridge America Forum. September 19, 2004. Est. Value—$57.60. Handled pursuant to Secret Service policy The Cambridge America Forum of St. Catharine's College in Cambridge University (United Kingdom) Non-acceptance would cause donor embarrassment. Robert Roach, Counsel and Chief Investigator, U.S. Senate Permanent Subcommittee on Investigations (Dem. Staff) Welcome dinner for the Steering Group of the Cambridge America Forum including panelists participating in the conference. September 19, 2004. Est. Value—$48. Handled pursuant to Secret Service policy The Fellows of St. Catherine's College in Cambridge University (United Kingdom) Non-acceptance would cause donor embarrassment. Robert Roach, Counsel and Chief Investigator, U.S. Senate Permanent Subcommittee on Investigations (Dem. Staff) Lunch for all participants and attendees at conference. September 20, 2004. Est. Value—$48. Handled pursuant to Secret Service policy The Cambridge America Forum of St. Catharine's College in Cambridge University (United Kingdom) Non-acceptance would cause donor embarrassment. Senator Thad Cochran Large Kilim rug, August 2004. Est. Value—$800. Location: Displayed in SD-113 for official use Government of Baku Non-acceptance would cause donor embarrassment. Senator Thad Cochran Decorative Brass Tea Set. August 2004, Est. Value—$150. Location: Displayed in SD-113 for official use Government of Baku Non-acceptance would cause donor embarrassment. Kay Webber, Executive Assistant, Office of Senator Thad Cochran Large Kilim rug, August 24, 2004, Est. Value—$800. Decorative Brass Tea Set. Est. Value—$150. Location: Deposited with the Secretary of the Senate Government of Baku Non-acceptance would cause donor embarrassment. James W. Morehard, Chief of Staff, Committee on Appropriations Silver Tea Set. September 28, 2004. Est. Value—$150. Small hand-made rug, Est. Value—$400. Location: Deposited with the Secretary of the Senate President Ilham Aliyev of Azerbaijan Non-acceptance would cause donor embarrassment. Sid Ashworth, Clerk, Committee on Appropriations, Subcommittee on Defense Silver Tea Set Est. Value—$150. Small hand-made rug. September 28, 2004. Est. Value—$450. Location: Deposited with the Secretary of the Senate President Ilham Aliyev of Azerbaijan Non-acceptance would cause donor embarrassment. Senator Richard Lugar Dom Perignon Champagne, 750 ML., December 8, 2004. Est. Value—$150. Location: Deposited with the Secretary of the Senate Ambassador Ranendra Sen, India's Ambassador to the U.S. Non-acceptance would cause donor embarrassment. Senator E. Benjamin Nelson Rug. October 25, 2004. Est. Value—$800. Location: Displayed in State office, 7602 Pacific St. Omaha, Nebraska for official use President Ilham Aliyev of Azerbaijan and the Government of Baku Non-acceptance would cause donor embarrassment. Senator E. Benjamin Nelson Silver Tea Set and Carrying Case. October 25, 2004. Est. Value—$150. Location: Displayed in Member's Office in SH-720 for official use President Ilham Aliyev of Azerbaijan and the Government of Baku Non-acceptance would cause donor embarrassment. Senator Hillary Rodham Clinton Leather Wallet and Clutch Purse by Versace. July 2004. Est. Value—Overvalue but actual amount unknown. Location: Deposited with the Secretary of the Senate, Leather Wallet and Card case. Est. Value—Unknown. Location: Deposited with the Secretary of the Senate. Small Enameled Display Pedestal. Est. Value—Unknown. Location: Deposited with the Secretary of the Senate Shobha Oza, President of the Mahila Congress Madhya Pradesh within the Indian National Congress Non-acceptance would cause donor embarrassment. AGENCY: United States Senate [Report of Travel or Expenses of Travel] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Mr. Brian S. Feintech, Committee on Appropriations Bus Transportation to projects managed by the Ministry of Health. February 18th & 20th, 2004 Government of the Dominican Republic Travel to view projects managed by the Ministry of Health, U.S. AID and the UN Population Fund with periodic briefings en route. Transportation within the Dominican Republic on military helicopters to outlying areas to visit projects. February 19, 2004 Travel to view projects funded by the U.S. Government and UNFPA. Itinerary would have been impossible w/o government. Ms. Lindsey Brill, Health LA, Office of Senator Lincoln Chafee Bus transportation to projects managed by the Ministry of Health. February 18th & 20th, 2004 Government of the Dominican Republic Travel to view projects managed by the Ministry of Health, U.S. AID, and the UN Population Fund with periodic briefings en route. Transportation within the Dominican Republic on military helicopters to outlying areas to visit projects. February 19, 2004 Travel to view projects funded by the U.S. Government and UN Population Fund. Itinerary would have been impossible w/o government assistance. Ms. Julie Cohen, Legislative Assistant, Office of Senator Herb Kohl Bus transportation to projects managed by the Ministry of Health. February 18th & 20th, 2004 Government of the Dominican Republic Travel to view projects managed by the Ministry of Health, U.S. AID, and the UN Population Fund with periodic briefings en route. Transportation within the Dominican Republic on military helicopters to outlying areas to visit projects. February 19, 2004 Travel to view projects funded by the U.S. Government and UN Population Fund. Itinerary would have been impossible w/o government assistance. Senator and Mrs. Paul Sarbanes Transportation within Greece to attend and give keynote speech at the WHIU General Assembly, including lodging and meals. August 12-17, 2000 World Hellenic Inter-Parliamentary Union
(WHIU)Travel to discuss Hellenic issues with worldwide elected officials; meet with the Greek Parliament and President of Greece. Senator Chuck Hagel Transportation within Gabon via President Bongo's helicopter to view threatened and sensitive ecological sites protected by Gabon's national park system. August 25, 2004 President Omar Bongo and the Government of Gabon Official travel to view key ecological sites. No commercial option. Andrew Parasiliti, Foreign Policy Advisor, Office of Senator Chuck Hagel Transportation within Gabon via President Bongo's helicopter to view threatened and sensitive ecological sites protected by Gabon's national park system. August 25, 2004 President Omar Bongo and the Government of Gabon Official travel to view key ecological sites. No commercial option. Randel Zeller, Senior Policy Advisor, Office of Senator Chuck Hagel Transportation within Gabon via President Bongo's helicopter to view threatened and sensitive ecological sites protected by Gabon's national park system. August 25, 2004 President Omar Bong and the Government of Gabon Official travel to view key ecological sites. No commercial option. Mrs. Hillary Rodham Clinton, U.S. Senator Transportation from Iceland to Ireland, within Ireland; one nights lodging in Ireland. August 25-28, 2004 University of Deny, Ireland Travel for speech at the University, official events. Mr. Robert Holifield, Legislative Assistant, Senator Blanche Lincoln Transportation within Yemen (round trip from Sanaa to Mukallah) to meet with President Salih. February 19, 2004 Government of Yemen Official travel to meet with President Salih on international trade issues. The staff delegation was tentatively scheduled to meet with President Salih in Sanaa on Feb. 19.* However, upon arriving in Sanaa at 10 p.m. on Feb. 18th we were informed by U.S. Embassy personnel that President Salih would be in Mukallah the next morning and that the Government of Yemen has arranged to transport us there for the meeting. Given the late hour of our arrival in Sanaa, and given that we would be required to leave early the next morning, non-acceptance of the flight and thus the cancellation of the meeting would have caused the donor embarrassment. Mr. David S. Johanson, International Trade Counsel, Committee on Finance Transportation within Yemen (roundtrip from Sanaa to Mukallah) to meet with President Salih. February 19, 2004 Government of Yemen Official travel to meet with President Salih on international trade issues. The staff delegation was tentatively scheduled to meet with President Salih in Sanaa on Feb. 19th. However, upon arriving in Sanaa at 10 p.m. on Feb. 18th, we were informed by U.S. Embassy personnel that President Salih would be in Mukallah the next morning and that the Government of Yemen has arranged to transport us there for the meeting. Given the late hour of our arrival in Sanaa, and given that we would be required to leave early the next morning for Mukallah, it was impractical to attempt to arrange a commercial flight. Alternatively, non-acceptance of the flight and thus cancellation of the meeting with President Salih—a meeting in the interests of the United States—would have caused the donor embarrassment. Bryn N. Stewart, Legislative Director, Office of Senator Craig Thomas Transportation between Sanaa, Yemen and Mukallah, Yemen to meet President Salih. ($235.00), which represents the cost of round trip airfare between the two cities. February 19, 2004 Government of Yemen Official travel to meet with President Salih to discuss international trade issues. The staff delegation was scheduled to meet with the President in Sanaa, but they were informed that the President was in Mukallah and the Government of Yemen has arranged to transport us there for the meeting. Due to the late hour of arrival in Sanaa, and given the early departure needed to arrive in time to meet the President, it was impractical to arrange a commercial flight within the time constraints given us. Mr. David Wonnenberg, Professional Staff Member, Senate Commerce Committee Transportation between Sanaa and Mukallah to meet President Salih. February 19, 2004 Government of Yemen Official travel to meet with President Salih on international trade issues. Due to the last minute change in our itinerary (original meeting was to take place in Sanaa, but that was moved to Mukallah) the Government of Yemen arranged for a flight to address this change in President Salih's availability. It was impractical to obtain commercial travel and non-acceptance would have caused the donor embarrassment. Mr. Brian Pomper, International Trade Counsel, Committee on Finance (Dem Staff) Transportation within Yemen (round trip from Sanaa to Mukallah) to meet President Salih ($235). February 19, 2004 Government of Yemen Official travel to meet with President Salih on international trade issues. The meeting and flight were arranged last-minute. The staff delegation was tentatively scheduled to meet with President Salih in Sanaa on February 19th. However, upon arriving in Sanaa at 10 p.m. on February 18th, we were informed by U.S. embassy personnel that President Salih would be in Mukallah the next morning and that the Government of Yemen had arranged to transport us there for the meeting. Given the late hour of our arrival in Sanaa, and given that we would be required to leave early the next morning for Mukallah, it was impractical to attempt to arrange a commercial flight. Refusing to accept the flight and canceling the meeting with President Salih would have embarrassed the Government of Yemen. Senator Mitch McConnell Transportation within Israel via military aircraft to view security fence and other strategic sites. November 14, 2004 Government of Israel No commercial travel available to tour these sites. Mr. William H. Piper, Chief of Staff, Office of Senator Mitch McConnell Transportation within Israel via military aircraft to view security fence and other strategic sites. November 14, 2004 Government of Israel No commercial travel available to tour these sites. Ms. Ellen Doneski, Legislative Director, Office of Senator John D. Rockefeller, IV Transportation within Yemen (roundtrip from Sanaa to Mukallah) to meet President Salih. February 19, 2004 Government of Yemen Official travel to meet with President Salih on international trade issues. The staff delegation was tentatively scheduled to meet with President Salih in Sanaa on Feb. 19th. However, upon arriving in Sanaa at 10 p.m. on Feb. 18th, we were informed by U.S. Embassy personnel that President Salih would be in Mukallah the next morning and that the Government of Yemen has arranged to transport us there for the meeting. Given the late hour of our arrival in Sanaa, and given that we would be required to leave early the next morning for Mukallah. It was impractical to attempt to arrange a commercial flight. Alternatively, non-acceptance of the flight and thus cancellation of the meeting with President Salih—a meeting in the interests of the United States—would have caused the donor embarrassment. AGENCY: U.S. House of Representatives [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Dennis J. Hastert, Member of Congress Royal De Champagne Crystal Lion. Recd.—December 15, 2004. Est. Value—$675.00. Disposition: On display in the Speaker's Office, Room H-232 of The U.S. Capitol for official use Lucien Weiler, President of the Chamber of Deputies of Luxembourg Non-acceptance would have caused embarrassment to donor. AGENCY: U.S. House of Representatives [Report of Travel or Expenses of Travel] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Susan Davis, Member of Congress Lodging and meals in Libya. March 2, 2004 Libyan Parliament Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Thaddeus McCotter, Member of Congress Hotel and meals in Libya. March 2, 2004 Libyan Parliament Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Solomon P. Ortiz, Member of Congress Lodging and meals in Libya. March 2, 2004 Libyan Parliament Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Silvestre Reyes, Member of Congress Lodging and meals in Libya. March 2, 2004 Libyan Parliament Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Nick Smith, Member of Congress Lodging and meals in Libya. March 2, 2004 Libyan Parliament Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Curt Weldon, Member of Congress Lodging and meals in Libya. March 2, 2004 Libyan Parliament Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). M. Douglass Bellis, Deputy Legislative Counsel In country travel expenses in St. Kitts, West Indies, in connection with presentation of paper at legislative drafting conference. July 14-18, 2004 University of the West Indies Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Erin Conaton, Staff, House Armed Services Committee Lodging and meals in Libya. March 2, 2004 Libyan Parliament Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Douglas C. Roach, Staff, House Armed Services Committee Lodging and meals in Libya. March 2, 2004 Libyan Parliament Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Christopher C. Schons, Legislative Assistant for International Affairs, Rep. Katherine Harris Meals, lodging and in country travel in Guatemala. August 16-19, 2004 Guatemala Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Harold O. Stavenas, Staff, House Armed Services Committee Lodging and meals in Libya. March 2, 2004 Libyan Parliament Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Chandler, A.B., HI, Member of Congress Accommodations, meals, domestic transport, tours, theatre tickets during travel in Sydney, Melbourne and Port Douglas, for Member and spouse. November 8-14, 2004 Australian Government Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Cooper, Jim, Member of Congress Accommodations, meals, domestic transport, tours, theatre tickets during travel in Sydney, Melbourne and Port Douglas, for Member and spouse. November 6-14, 2004 Australian Government Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Mike Ross, Member of Congress Domestic Transportation in Australia. November 6-14, 2004 Australian Government Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). Daly, Brendan, Communications Director House Democratic Leader Airport fees, lodging, meals/program in Russia. June 26-July 2, 2004 Russia Authorized by 5 U.S.C. 7342(c)(l)(B)(ii). AGENCY: Department of Navy [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Mrs. R.F. Willard, spouse of Vice Admiral R.F. Willard, Commander of the Seventh Fleet Woman's watch. Received Date: 3/18/2004. Estimated Value: $662.00. Disposition: Transferred to General Services Administration Townsville, Australia Delegation Non-acceptance would have caused embarrassment to donor and U.S. Government. Navy Approx. 450 members of Company Patrol and Reconnaissance Wing Ten Party/Banquet at the NAS Whidbey Island Officers' Club. Received Date: 8/6/2004. Estimated Value: $8,600.00. Disposition: Food and Beverages consumed, T-shirts and cups accepted Japanese Maritime Self Defense Force PATRON DET39 Non-acceptance would have caused embarrassment to donor and U.S. Government. Vice Admiral R.F. Willard, Commander of the Seventh Fleet Man's watch. Received Date: 3/18/2004. Estimated Value: $856.00. Disposition: Transferred to General Services Administration Townsville, Australia Delegation Non-acceptance would have caused embarrassment to donor and U.S. Government. AGENCY: Department of Navy [Report of Travel and Travel Expenses] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Vice Admiral & Mrs. Willard, Commander, C7F and Spouse Travel and lodging in Japan. Recd—May 13-17, 2004. Est. Value—$820.00 City of Shimoda, Japan Official participation in the 65th Annual Shimoda Black Ship Festival. Flag Aide Lieutenant Bandini, Commission Seventh Fleet—Navy Travel and lodging in Japan. Recd—May 13-17, 2004. Est. Value—$590.00 City of Shimoda, Japan Official participation in the 65th Annual Shimoda Black Ship Festival. AGENCY: Department of Air Force [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Allan G. Peck, Brigadier General, U.S. Air Force Vittorio Vercelli leather attache case, wallet, key holder watch, box and 2 Concord pens. Received Date: 5/23/2004. Estimated Value: $492.00. Disposition: Department of Air Force, Approved for Official Use Major General Hamad Mohammed Thani Al-Rumaithy, Deputy Chief of Staff, General Headquarters, United Arab Emirates Armed Forces Non-acceptance would have caused embarrassment to donor and U.S. Government. Christopher M. Campbell, Colonel, U.S. Air Force Italian “Momo Design” Watch. Received Date: 5/26/2004. Estimated Value: $620.00. Disposition: Transferred to General Services Administration Jabir Mubarak al-Hamad al-Sabah, the Deputy Prime Minister and Minister of Defense, Kuwait Non-acceptance would have caused embarrassment to donor and U.S. Government. Walter E. Buchanan, III, Lieutenant General, U.S. Air Force, Central Air Force Commander Vittorio Vercelli leather attache case, wallet, key holder watch, box and 2 Concord pens. Received Date: 5/23/004. Estimated Value: $492.00. Disposition: Transferred to General Services Administration Major General Hamad Mohammed Thani Al-Rumaithy, Deputy Chief of Staff, General Headquarters, United Arab Emirates Armed Forces Non-acceptance would have caused embarrassment to donor and U.S. Government. AGENCY: Central Intelligence Agency [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance George J. Tenet, Director, Central Intelligence Bronze group of an Arab man helping a woman from the bath, after a model by Reiss, modern, gold brown patina, mounted on a black slate base. H: 16 inches. Rec'd—January 14, 2004. Est. Value: $300.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. George J. Tenet, Director, Central Intelligence Elizabeth II silver Turkish design coffee ewer, maker's marks GGM, London, 2001. Rec'd—February 10, 2004. Est. Value: $350.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. George J. Tenet, Director, Central Intelligence Middle Eastern filigree silver and partial gilt palm tree form night-light, modern. Rec'd—March 9, 2004. Est. Value: $500.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. George J. Tenet, Director, Central Intelligence Chased brass and rosette mounted figured wood percussion rifle, 19th century; together with ramrod and leather powder flask, mounted in a display case. Rec'd-June 13, 2004. Est. Value: $500.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. George J. Tenet, Director, Central Intelligence Indian emerald, sapphire and gold five-piece ensemble, modern, consisting of: a tasseled necklace, a pair of tasseled pierced-type earrings and a ring, each set with faceted emeralds and sapphires, encased. Rec'd—June 14, 2004. Est. Value: $500.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. George J. Tenet, Director, Central Intelligence Tower model 1856 Cal. 577 steel mounted walnut percussion rifle, stamped Tower/1856, also with impressed crown above VR, with folding sight and removable steel ramrod. L. of rifle overall: 55 inches. Rec'd—June 15, 2005. Est. Value: $750.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. George J. Tenet, Director, Central Intelligence Wristwatch, maker Breitling, with stainless steel case, No., A42362 and 483749, dial with three subsidiary dials and a calendar aperture with leather band encased. Rec'd—June 16, 2004. Est. Value: $300.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. George J. Tenet, Director, Central Intelligence Middle Eastern floral embossed silver oval two-handed footed centerpiece, with 900 standard marks. H: 8 Vt. inches, L including handles: 16 inches; weight: 46 oz. Rec'd—July 21, 2004. Est. Value: $500.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. George J. Tenet, Director, Central Intelligence Bahranian 22-Karat gold five-piece coin set, Five Different Bahranian Rulers, encased. D of each: 1 Vz. inches (36 mm), weight of each: 31 grams. Rec'd—July 23, 2004. Est. Value: $1,500.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. An Agency Employee Saudi Arabian eight-piece “Hashemite” coin proof set, minted in Mecca for His Majesty King Ali Hussein bin Ali (1916-1924), consisting of: a copper one-eight kirsh, a copper quarter kirsh, a copper half kirsh, a copper kirsh, a silver five kurush, a silver ten kurush, a silver twenty kirshan and a gold Hashimi Dinar. Rec'd—May 2003. Est. Value: $300.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. An Agency Employee Continental hallmarked 18 karat yellow gold cabochon ruby and oval faceted emerald pierced type pendant earrings, modern, the Snowflake open mount set with a central cabochon ruby surrounded by eight rose cut emeralds. Rec'd—February 13, 2004. Est. Value: $300.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. An Agency Employee Pakistan “Tabriz” design rug, 9.4′ x 6.8′, modern, navy blue with mille-fleur field centering two pulled lobed medallions on royal red to ivory ground, complimentary spandrels, palmette and trellising vine guard border on navy blue ground. Rec'd—October 20, 2002. Est. Value: $500.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. An Agency Employee Qum silk rug, 6.9′ x 4.1′, modern, emerald green ground with flowering tree field, flowering branch and trellising vine guard border on red ground. Rec'd—May 8, 2004. Est. Value: $400.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. An Agency Employee Pakistan Bokhara rug, 9.4′ x 7.3′, modern, light brown ground with vertical rows of octagon medallions and rosettes, multi-guard border on blue to beige ground. Rec'd—December 2002. Est. Value: $500.00. Location: To be retained for official display 5 U.S.C. 7342(f)(4) Non-acceptance would have caused embarrassment to donor and U.S. Government. AGENCY: Federal Reserve Board [Report of Tangible Gifts] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Ben S. Bernanke, Member of the Board Yobide mainstream sculpture (plate, 8 1/2 ″ diameter, decorated with dragon figures). Recd: September 29, 2004. Est. Value—$375. Location: Approved for official use Chen Yuan, Governor, China Development Bank, People's Republic of China Non-acceptance would have caused embarrassment to donor and U.S. Government. Alan Greenspan, Chairman of the Board Romanian gold commemorative coin, 1 1/4 ″ diameter with image of Constantin Brancusi. Recd: October 3, 2004. Est. Value—$750. Location: Approved for official use Mugur Isarescu, Governor, National Bank of Romania Non-acceptance would have caused embarrassment to donor and U.S. Government. AGENCY: National Archives and Records Administration [Report of Travel Expenses] Name and title of person accepting the gift on behalf of the U.S. Government Gift, date of acceptance on behalf of the U.S. Government, estimated value, and current disposition or location Identity of foreign donor and government Circumstances justifying acceptance Paul Wester, Director, Life Cycle Management Division Lodging in China. Rec'd December 8, 2004. Est. Value—$350.00 National Science and Technical Museum Kaohsiung, The Republic of China (Taiwan) Presented a paper on Strategic Directions for Federal Records Management. [FR Doc. 06-5132 Filed 6-8-06; 8:45 am]
Connectionstraces to 13
Traces to 13 documents
4 references not yet in our index
  • 17 CFR 240.19
  • Pub. L. 93-618
  • Pub. L. 95-105
  • 91 Stat. 865
Citation graph
cites case law
Notices
Notice of extension of comment period
U.S.C.§ 78s
U.S.C.§ 78f
U.S.C.§ 78c
U.S.C.§ 78q
U.S.C.§ 78t
U.S.C.§ 78u–3
C.F.R.§ 200.30-3
U.S.C.§ 552
U.S.C.§ 634
Cite17 CFR 240.19
Pub. L.Pub. L. 93-618
Pub. L.Pub. L. 95-105
Cites 17 · showing 12Cited by 0 across 0 sources
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