Fed. Reg. Notices — Notice; request for comments

BILLING CODE 3190-W7-M OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE [Docket No. WTO/DS350] WTO Dispute Settlement Proceeding Regarding Measures Related to Zeroing and Certain Investigations, Administrative Reviews and Sunset Reviews Involving Products From the European Communities AGENCY: Office of the United States Trade Representative. ACTION: Notice; request for comments. SUMMARY: The Office of the United States Trade Representative (“USTR”) is providing notice that the European Communities (“EC”) has requested the establishment of a panel under the *Marrakesh Agreement Establishing the World Trade Organization* (“WTO Agreement”).

The EC alleges that various measures relating to zeroing and antidumping duty orders on certain products from the EC, and certain related matters, are inconsistent with Articles 1, 2.1, 2.4, 2.4.2, 5.8, 9.1, 9.3, 9.5, 11, and 18.4 of the *Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1994* (“AD Agreement”), Article VI of the *General Agreement on Tariffs and Trade 1994* (“GATT 1994”), and Article XVI:4 of the WTO Agreement. That request may be found at *http://www.wto.org* contained in a document designated as WT/DS350/6.

USTR invites written comments from the public concerning the issues raised in this dispute. In connection with the issues raised in the panel request, the public should be aware that on March 6, 2006, the Department of Commerce announced that it will no longer use “zeroing” when making average-to-average comparisons in an antidumping investigation. See 71 FR 11189. DATES: Although USTR will accept any comments received during the course of the dispute settlement proceedings, comments should be submitted on or before October 26, 2007 to be assured of timely consideration by USTR.

ADDRESSES: Comments should be submitted

(i)Electronically, to *FR0702@ustr.eop.gov* , Attn: “EC Zeroing II (DS350)” in the subject line, or

(ii)by fax, to Sandy McKinzy at

(202)395- 3640. For documents sent by fax, USTR requests that the submitter provide a confirmation copy to the electronic mail address listed above. FOR FURTHER INFORMATION CONTACT: Ronald Baumgarten, Assistant General Counsel, Office of the United States Trade Representative, 600 17th Street, NW., Washington, DC 20508,

(202)395-9622. SUPPLEMENTARY INFORMATION: Section 127(b) of the Uruguay Round Agreements Act (“URAA”) (19 U.S.C. 3537(b)(1)) requires that notice and opportunity for comment be provided after the United States submits or receives a request for the establishment of a WTO dispute settlement panel. Consistent with this obligation, USTR is providing notice that a dispute settlement panel has been requested pursuant to the WTO *Understanding on Rules and Procedures Governing the Settlement of Disputes* (“DSU”). The panel will hold its meetings in Geneva, Switzerland. Major Issues Raised by the EC With respect to the measures at issue, the EC's request for establishment of a panel refers to the following: 1. The continued application of, or the application of the specific anti-dumping duties resulting from certain anti-dumping orders specified in the EC request (see list, below) as calculated or maintained in place pursuant to the most recent administrative review or, as the case may be, original proceeding or changed circumstances or sunset review proceeding at a level in excess of the anti-dumping margin which would result from the correct application of the Anti-Dumping Agreement (whether duties or cash deposit rates or other form of measure). 2. Certain specified administrative reviews, or, as the case may be, original proceedings or changed circumstances or sunset review proceedings with the anti-dumping orders specified in the EC request (see list, below). 3. Determinations in relation to all companies and any assessment instructions, whether automatic or otherwise, issued at any time pursuant to the specified antidumping-orders. The orders, administrative reviews, investigations, and sunset reviews specified by the EC are as follows: Steel Concrete Reinforcing Bars from Latvia, DOC Case No. A-449-804, ITC Case No. 731-TA-878: 69 FR 74498 (December 14, 2004); 71 FR 74900 (13 December 2006); 71 FR 7016 (February 10, 2006); 72 FR 16767 (April 5, 2007) (Original Order: 66 FR 46777, 7 September 2001). Ball Bearings from Italy, DOC Case No. A-475-801, ITC Case No. 731-TA-393: 71 FR 40064 (July 14, 2006); 70 FR 54711 (September 16, 2005); 69 FR 55574 (September 15, 2004); 68 FR 35623 (June 16, 2003); 71 FR 51850 (August 31, 2006); 71 FR 54469 (September 15, 2006). (Original Order: 15 May 1989; Continuation Order: 71 FR 54469, 15 September 2006)). Ball Bearings from Germany, DOC Case No. A-428-801, ITC Case No. 731-TA-392: 71 FR 40064 (July 14, 2006); 70 FR 54711 (September 16, 2005); 69 FR 55574 (September 15, 2004); 69 FR 63507 (November 2, 2004); 68 FR 35623 (June 16, 2003); 70 FR 58383 (October 6, 2005); 71 FR 51850 (August 31, 2006); 71 FR 54469 (September 15, 2006). Ball Bearings from France, DOC Case No. A-427-801, ITC Case No. 731-TA-391: 71 FR 40064 (July 14, 2006); 70 FR 54711 (September 16, 2005); 69 FR 55574 (September 15, 2004); 69 FR 62023 (October 22, 2004); 68 FR 35623 (June 16, 2003); 68 FR 43712 (July 24, 2003); 70 FR 58383 (October 6, 2005); 71 FR 51850 (August 31, 2006); 71 FR 54469 (September 15, 2006). Stainless Steel Bar from France, DOC Case No. A-427-820: 70 FR 46482 (August 10, 2005); 71 FR 30873 (May 31, 2006). (Original Order: 67 FR 10385, 7 March 2002). Stainless Steel Sheet and Strip in Coils from Germany, DOC Case No. A-428-825, ITC Case No. 731-TA-798: 71 FR 74897, December 13, 2006); 70 FR 73729 (December 13, 2005); 69 FR 75930 (December 20, 2004); 69 FR 6262 (February 10, 2004); 69 FR 67896 (November 22, 2004); 70 FR 41236 (July 18, 2005); 70 FR 44886 (August 4, 2005). (Original Order: 64 FR 40557, 27 July 1999; Continuation Order: 70 FR 44886, 4 August 2005). Stainless Steel Plate in Coils from Belgium, DOC Case No. A-423-808, ITC Case. No. 731-TA-788: 70 FR 72789 (December 7, 2005); 69 FR 74495 (December 14, 2004); 70 FR 2999 (January 19, 2005); 69 FR 61798 (October 21, 2004); 70 FR 38710 (July 5, 2005); 70 FR 41202 (July 18, 2005). (Original Order: 64 FR 25288, 11 May 1999; Continuation Order: 70 FR 41202, 18 July 2005). Ball Bearings and parts thereof from the United Kingdom, DOC Case No. A-412-801, ITC Case No. 731-TA-399: 70 FR 54711 (September 16, 2005); 69 FR 55574 (September 15, 2004); 69 FR 62023 (October 22, 2004); 70 FR 58383 (October 6, 2005); 71 FR 51850 (August 31, 2006); 71 FR 54469 (September 15, 2006). Stainless Steel Bar from Germany, DOC Case No. A-428-830: 71 FR 42802 (July 28, 2006); 71 FR 52063 (September 1, 2006); 69 FR 113 (June 14, 2004). Certain Hot-rolled Carbon Steel Flat Products from Netherlands, DOC Case No. A-421-807, ITC Case No. 731-TA-903: 70 FR 71523 (December 11, 2006) (Preliminary results); 70 FR 18366 (April 11, 2005); 69 FR 115 (June 16, 2004); 69 FR 43801 (July 22, 2004); 72 FR 7604 (February 16, 2007) (Preliminary Results). (Original Order: 66 FR 55637, 2 November 2001). Stainless Steel Bar from Italy, DOC Case No. A-475-829, 69 FR 113 (June 14, 2004). (Original Order: 67 FR 10384, 7 March 2002). Stainless Steel Sheet and Strip in Coils from Italy, DOC Case No. A-475-824, ITC Case No. 731-TA-799: 70 FR 7472 (February 14, 2005); 70 FR 13009 (March 17, 2005); 68 FR 69382 (December 12, 2003); 69 FR 67896, November 22, 2004; 70 FR 41236 (July 18, 2005); 70 FR 44886 (August 4, 2005). (Original Order: 64 FR 40567, 27 July 1999; Continuation Order: 70 FR 44886, 4 August 2005). Certain Pasta from Italy, DOC Case No. A-475-818, ITC Case No. 731-TA-734: 72 FR 7011 (February 14, 2007); 70 FR 71464 (November 29, 2005); 70 FR 6832 (February 9, 2005); 69 FR 6255 (February 10, 2004); 69 FR 81 (April 27, 2004); 72 FR 5266 (February 5, 2007). (Original Order 61 FR 143, 24 July 1996; Continuation Order 66 FR 55160, 1 November 2001). Brass Sheet and Strip from Germany, DOC Case No. A-428-602, ITC Case No. 731-TA-317: 71 FR 4348 (January 26, 2006); 71 FR 14719 (March 23, 2006); 71 FR 16552 (April 3, 2006). (Original Order: 6 March 1987). Purified carboxymethylcellulose from Sweden, DOC Case No. A-401-808, ITC Case No. 731-TA-1087: 70 FR 28278 (May 17, 2005); 70 FR 39334 (July 7, 2005); 70 FR 39734 (July 11, 2005). Purified carboxymethylcellulose from the Netherlands, DOC Case No. A-421-811, ITC Case No. 731-TA-1086; Purified carboxymethylcellulose from Finland, DOC Case No. A-405-803, ITC Case No. 731-TA-1084: 70 FR 28275 (May 17, 2005); 70 FR 39334 (July 7, 2005); 70 FR 39734 (July 11, 2005). Chlorinated isocyanurates from Spain, DOC Case No. A-469-814, ITC Case No. 731-TA-1083: 70 FR 24506 (May 10, 2005); 70 FR 36205 (June 22, 2005); 70 FR 36562 (June 24, 2005). Public Comment: Requirements for Submissions Interested persons are invited to submit written comments concerning the issues raised in this dispute. Persons may submit their comments either

(i)Electronically, to *FR0702@ustr.eop.gov* , Attn: “EC Zeroing II (DS350)” in the subject line, or

(ii)by fax to Sandy McKinzy at

(202)395-3640. For documents sent by fax, USTR requests that the submitter provide a confirmation copy to the electronic mail address listed above. USTR encourages the submission of documents in Adobe PDF format, as attachments to an electronic mail. Interested persons who make submissions by electronic mail should not provide separate cover letters; information that might appear in a cover letter should be included in the submission itself. Similarly, to the extent possible, any attachments to the submission should be included in the same file as the submission itself, and not as separate files. A person requesting that information contained in a comment submitted by that person be treated as confidential business information must certify that such information is business confidential and would not customarily be released to the public by the submitter. Confidential business information must be clearly designated as such and the submission must be marked “BUSINESS CONFIDENTIAL” at the top and bottom of the cover page and each succeeding page. Information or advice contained in a comment submitted, other than business confidential information, may be determined by USTR to be confidential in accordance with section 135(g)(2) of the Trade Act of 1974 (19 U.S.C. 2155(g)(2)). If the submitter believes that information or advice may qualify as such, the submitter—

(1)Must clearly so designate the information or advice;

(2)Must clearly mark the material as “SUBMITTED IN CONFIDENCE” at the top and bottom of the cover page and each succeeding page; and

(3)Is encouraged to provide a non-confidential summary of the information or advice. Pursuant to section 127(e) of the URAA (19 U.S.C. 3537(e)), USTR will maintain a file on this dispute settlement proceeding, accessible to the public, in the USTR Reading Room, which is located at 1724 F Street, NW., Washington, DC 20508. The public file will include non-confidential comments received by USTR from the public with respect to the dispute; if a dispute settlement panel is convened or in the event of an appeal from such a panel, the U.S. submissions, the submissions, or non-confidential summaries of submissions, received from other participants in the dispute; the report of the panel, and, if applicable, the report of the Appellate Body. An appointment to review the public file (Docket No. WT/DS-350, EC Zeroing II) may be made by calling the USTR Reading Room at

(202)395-6186. The USTR Reading Room is open to the public from 9:30 a.m. to noon and 1 p.m. to 4 p.m., Monday through Friday. Daniel E. Brinza, Assistant United States Trade Representative, for Monitoring and Enforcement. [FR Doc. E7-17563 Filed 9-5-07; 8:45 am] BILLING CODE 3190-W7-P OFFICE OF PERSONNEL MANAGEMENT Federal Prevailing Rate Advisory Committee; Open Committee Meetings According to the provisions of section 10 of the Federal Advisory Committee Act (Pub. L. 92-463), notice is hereby given that a meeting of the Federal Prevailing Rate Advisory Committee will be held on Thursday, October 11, 2007. The meetings will start at 10 a.m. and will be held in Room 5A06A, U.S. Office of Personnel Management Building, 1900 E Street, NW., Washington, DC. The planned agenda for the Committee meeting includes— Old Business • Working Group—Strategic vs. Tactical Issues • Review of the Narragansett Bay, Rhode Island, Federal Wage System Wage Area • Review of the New Haven-Hartford, Connecticut, Federal Wage System Wage Area • Review of the New London, Connecticut, Federal Wage System Wage Area New Business • Definition of the Municipality of Bayamo n, Puerto Rico, to a Nonappropriated Fund Federal Wage System Wage Area • Abolishment of Rock Island, Illinois, as a Nonappropriated Fund Federal Wage System Wage Area • North American Industry Classification System Based Federal Wage System Wage Surveys (2007 Update) Note: The Committee's agenda may be subject to change. The Federal Prevailing Rate Advisory Committee is composed of a Chair, five representatives from labor unions holding exclusive bargaining rights for Federal blue-collar employees, and five representatives from Federal agencies. Entitlement to membership on the Committee is provided for in 5 U.S.C. 5347. The Committee's primary responsibility is to review the Prevailing Rate System and other matters pertinent to establishing prevailing rates under subchapter IV, chapter 53, 5 U.S.C., as amended, and from time to time advise the U.S. Office of Personnel Management. These scheduled meetings will start in open session with both labor and management representatives attending. During the meetings either the labor members or the management members may caucus separately with the Chair to devise strategy and formulate positions. Premature disclosure of the matters discussed in these caucuses would unacceptably impair the ability of the Committee to reach a consensus on the matters being considered and would disrupt substantially the disposition of its business. Therefore, these caucuses will be closed to the public because of a determination made by the Director of the U.S. Office of Personnel Management under the provisions of section 10(d) of the Federal Advisory Committee Act (Pub. L. 92-463) and 5 U.S.C. 552b(c)(9)(B). These caucuses may, depending on the issues involved, constitute a substantial portion of a meeting. Annually, the Chair compiles a report of pay issues discussed and concluded recommendations. These reports are available to the public, upon written request to the Committee. The public is invited to submit material in writing to the Chair on Federal Wage System pay matters felt to be deserving of the Committee's attention. Additional information on these meetings may be obtained by contacting the Committee at U.S. Office of Personnel Management, Federal Prevailing Rate Advisory Committee, Room 5526, 1900 E Street, NW., Washington, DC 20415,

(202)606-2838. Dated: August 30, 2007. Charles E. Brooks, Chairman, Federal Prevailing Rate Advisory Committee. [FR Doc. E7-17641 Filed 9-5-07; 8:45 am] BILLING CODE 6325-49-P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon written request; copies available from: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549-0213. Extension: Regulation A; OMB Control No. 3235-0286; SEC File No. 270-110 (Forms 1-A and 2-A). Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 *et seq.* ), the Securities and Exchange Commission (“Commission”) has submitted to the Office of Management and Budget this request for extension of the previously approved collection of information discussed below. Regulation A (17 CFR 230.251 through 230.263) provides an exemption from registration under the Securities Act of 1933 (15 U.S.C. 77a *et seq.* ) for certain limited securities offerings by issuers who do not otherwise file reports with the Commission. Form 1-A is an offering statement filed under Regulation A. Form 2-A is used to report sales and use of proceeds in Regulation A offerings. All information is provided to the public for review. The information required is filed on occasion and is mandatory. We estimate approximately 100 issuers file Forms 1-A and 2-A annually. We estimate that Form 1-A takes 608 hours to prepare, Form 2-A takes 12 hours to prepare, and Regulation A takes one administrative hour to review for a total of 621 hours per response. We estimate that 75% of 621 hours per response (465.75 hours) is prepared by the company for a total annual burden of 46,575 hours (465.75 x 100 responses). An agency may conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Written comments regarding the above information should be directed to the following persons:

(i)Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or send an e-mail to *Alexander_T._Hunt@omb.eop.gov;* and

(ii)R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-mail to: *PRA_Mailbox@sec.gov.* Comments must be submitted to OMB within 30 days of this notice. August 30, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17574 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549-0213. Extension: Form N-1A; SEC File No. 270-21; OMB Control No. 3235-0307. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 *et seq.* ) the Securities and Exchange Commission (“Commission”) has submitted to the Office of Management and Budget (“OMB”) a request for extension of the previously approved collection of information discussed below. Form N-1A (17 CFR 239.15A and 274.11A) is the form used by open-end management investment companies (“funds”) 1 under the Investment Company Act of 1940 (15 U.S.C. 80a-1 *et seq.* ) (“Investment Company Act”) and/or to register their securities under the Securities Act of 1933 (15 U.S.C. 77a *et seq.* ) (“Securities Act”). Section 5 of the Securities Act (15 U.S.C. 77e) requires the filing of a registration statement prior to the offer of securities to the public and that the statement be effective before any securities are sold, and Section 8 of the Investment Company Act (15 U.S.C. 80a-8) requires a fund to register as an investment company. Form N-1A also permits funds to provide investors with a prospectus and a statement of additional information (“SAI”) covering essential information about the fund when it makes an initial or additional offering of its securities. Section 5(b) of the Securities Act requires that investors be provided with a prospectus containing the information required in a registration statement prior to the sale or at the time of confirmation or delivery of the securities. The form also may be used by the Commission in its regulatory review, inspection, and policy-making roles. 1 Management investment companies typically issue shares representing an undivided proportionate interest in a changing pool of securities, and include open-end and closed-end companies. See T. Lemke, G. Lins, A. Smith III, REGULATION OF INVESTMENT COMPANIES, Vol. I, ch. 4, § 4.04, at 4-5 (2002). An open-end company is a management company that is offering for sale or has outstanding any redeemable securities of which it is the issuer. A closed-end company is any management company other than an open-end company. See Section 5 of the Investment Company Act (15 U.S.C. 80a-5). Open-end companies generally offer and sell new shares to the public on a continuous basis. Closed-end companies generally engage in traditional underwritten offerings of a fixed number of shares and, in most cases, do not offer their shares to the public on a continuous basis. The Commission estimates that there are 77 initial registration statements and 2,320 post-effective amendments to initial registration statements filed on Form N-1A annually and that the average number of portfolios referenced in each initial filing and post-effective amendment is 4.9. The Commission further estimates that the hour burden for preparing and filing a post-effective amendment on Form N-1A is 111 hours per portfolio. The total annual hour burden for preparing and filing post-effective amendments is 1,261,848 hours (2,320 post-effective amendments × 4.9 portfolios × 111 hours per portfolio). The estimated annual hour burden for preparing and filing initial registration statements is 313,336 hours (77 initial registration statements × 4.9 portfolios × 830.47 hours per portfolio). The total annual hour burden for Form N-1A, therefore, is estimated to be 1,575,184 hours (1,261,848 hours + 313,336 hours). The information collection requirements imposed by Form N-1A are mandatory. Responses to the collection of information will not be kept confidential. An agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a currently valid control number. Please direct general comments regarding the above information to the following persons:

(i)Desk Officer for the Securities and Exchange Commission, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or e-mail to: *Alexander_T._Hunt@omb.eop.gov* ; and

(ii)R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA, 22312; or send an e-mail to: *PRA_Mailbox@sec.gov* . Comments must be submitted to OMB within 30 days of this notice. August 27, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17575 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Investor Education and Advocac, Washington, DC 20549-0213. Extension: Regulation S; OMB Control No. 3235-0357; SEC File No. 270-315. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 *et seq.* ), the Securities and Exchange Commission (“Commission”) has submitted to the Office of Management and Budget this request for extension of the previously approved collection of information discussed below. Regulation S ( 17 CFR 230.901 through 230.905) includes rules governing offers and sales of securities made outside the United States without registration under the Securities Act of 1933 (15 U.S.C. 77a *et seq.* ). The purpose of Regulation S is to provide clarification of the extent to which Section 5 of the Securities Act applies to sales and re-sales of securities outside of the United States. Regulation S is assigned one burden hour for administrative convenience. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Written comments regarding the above information should be directed to the following persons:

(i)Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or send an e-mail to *Alexander_T._Hunt@omb.eop.gov;* and

(ii)R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-mail to: *PRA_Mailbox@sec.gov.* Comments must be submitted to OMB within 30 days of this notice. August 30, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17576 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549-0213. Approval of Existing Information Collection: Rule 17a-8; SEC File No. 270-225; OMB Control No. 3235-0235. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520), the Securities and Exchange Commission (“Commission”) has submitted to the Office of Management and Budget (“OMB”) a request for extension of the previously approved collection of information discussed below. Rule 17a-8 (17 CFR 270.17a-8) under the Investment Company Act of 1940 (the “Act”) (15 U.S.C. 80a) is entitled “Mergers of affiliated companies.” Rule 17a-8 exempts certain mergers and similar business combinations (“mergers”) of affiliated registered investment companies (“funds”) from prohibitions under section 17(a) of the Act (15 U.S.C. 80a-17(a)) on purchases and sales between a fund and its affiliates. The rule requires fund directors to consider certain issues and to record their findings in board minutes. The rule requires the directors of any fund merging with an unregistered entity to approve procedures for the valuation of assets received from that entity. These procedures must provide for the preparation of a report by an independent evaluator that sets forth the fair value of each such asset for which market quotations are not readily available. The rule also requires a fund being acquired to obtain approval of the merger transaction by a majority of its outstanding voting securities, except in certain situations, and requires any surviving fund to preserve written records describing the merger and its terms for six years after the merger (the first two in an easily accessible place). The average annual burden of meeting the requirements of rule 17a-8 is estimated to be 7 hours for each fund. The Commission staff estimates that each year approximately 920 funds rely on the rule. The estimated total average annual burden for all respondents therefore is 6,440 hours. This estimate represents an increase of 2,240 hours from the prior estimate of 4,200 hours. The increase results from an increase in the estimated number of mergers of affiliated funds and fund portfolios. The average cost burden of preparing a report by an independent evaluator in a merger with an unregistered entity is estimated to be $15,000. The average net cost burden of obtaining approval of a merger transaction by a majority of a fund's outstanding voting securities is estimated to be $75,000. The Commission staff estimates that each year approximately 15 mergers with unregistered entities occur and approximately 22 funds hold shareholder votes that would not otherwise have held a shareholder vote to comply with state law. The total annual cost burden of meeting these requirements is estimated to be $1,875,000 The estimates of average burden hours and average cost burdens are made solely for the purposes of the Paperwork Reduction Act, and are not derived from a comprehensive or even a representative survey or study. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. Please direct general comments regarding the above information to the following persons:

(i)Desk Officer for the Securities and Exchange Commission, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or e-mail to: *Alexander_T._Hunt@omb.eop.gov* ; and

(ii)R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-mail to: *PRA_Mailbox@sec.gov.* Comments must be submitted to OMB within 30 days of this notice. August 30, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17583 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549-0213. Extension: Rule 17f-4; SEC File No. 270-232; OMB Control No. 3235-0225. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520), the Securities and Exchange Commission (the “Commission”) has submitted to the Office of Management and Budget (“OMB”) a request for extension of the previously approved collection of information discussed below. Section 17(f) (15 U.S.C. 80a-17(f)) under the Investment Company Act of 1940 (the “Act”) 1 permits registered management investment companies and their custodians to deposit the securities they own in a system for the central handling of securities (“securities depositories”), subject to rules adopted by the Securities and Exchange Commission (“Commission”). 1 15 U.S.C. 80a. Rule 17f-4 (17 CFR 270.17f-4) under the Act specifies the conditions for the use of securities depositories by funds 2 and custodians. The Commission staff estimates that 129 respondents (including 40 active funds, 73 custodians, and 16 possible securities depositories) 3 are subject to the requirements in rule 17f-4. The rule is elective, but most, if not all, funds use depository custody arrangements. 4 2 As amended in 2003, rule 17f-4 permits any registered investment company, including a unit investment trust or a face-amount certificate company, to use a security depository. See Custody of Investment Company Assets With a Securities Depository, Investment Company Act Release No. 25934 (Feb. 13, 2003) (68 FR 8438 (Feb. 20, 2003)). The term “fund” is used in this Notice to mean a registered investment company. 3 The Commission staff estimates that, as permitted by the rule, 1% of all active funds deal directly with a securities depository instead of using an intermediary. The number of custodians is from Lipper Inc.'s Lana Database. Securities depositories include the 12 Federal Reserve Banks and 4 registered depositories. 4 Based on responses to Item 18 of Form N-SAR (17 CFR 274.101), approximately 99 percent of all funds now use depository custody arrangements. As of March 30, 2007, approximately 3990 funds out of the 4030 active funds relied on rule 17f-4. Rule 17f-4 contains two general conditions. First, a fund's custodian must be obligated, at a minimum, to exercise due care in accordance with reasonable commercial standards in discharging its duty as a securities intermediary to obtain and thereafter maintain financial assets. 5 This obligation does not contain a collection of information because it does not impose identical reporting, recordkeeping or disclosure requirements. Funds and custodians may determine the specific measures the custodian will take to comply with this obligation. 6 If the fund deals directly with a depository, the depository's contract or written rules for its participants must provide that the depository will meet similar obligations. 7 All funds that seek to rely on rule 17f-4 should have either modified their contracts with the relevant securities depository, or negotiated a modification in the securities depository's written rules when the rule was amended. Therefore, this was a one-time event and does not contain a collection of information. 8 5 Rule 17f-4(a)(1). This provision incorporates into the rule the standard of care provided by section 504(c) of Article 8 of the Uniform Commercial Code when the parties have not agreed to a standard. Rule 17f-4 does not impose any substantive obligations beyond those contained in Article 8. Uniform Commercial Code, Revised Article 8—Investment Securities (1994 Official Text With Comments) (“Revised Article 8”). 6 Moreover, the rule does not impose any requirement regarding evidence of the obligation. 7 Rule 17f-4(b)(1)(i). 8 The Commission staff assumes that new funds relying on rule 17f-4 would choose to use a custodian instead of directly dealing with a securities depository because of the high costs associated with maintaining an account with a securities depository. Thus new funds would not be subject to this condition. Second, the custodian must provide, promptly upon request by the fund, such reports as are available about the internal accounting controls and financial strength of the custodian. 9 If a fund deals directly with a depository, the depository's contract with or written rules for its participants must provide that the depository will provide similar financial reports. 10 Custodians and depositories usually transmit financial reports to funds twice a year. 11 The Commission staff estimates that 73 custodians spend 920 hours (by support staff) annually in transmitting such reports to funds. 12 In addition, approximately 40 funds ( *i.e.* , one percent of all funds) deal directly with a securities depository and may request periodic reports from their depository. Commission staff estimates that, for each of the 40 funds, depositories spend 9 hours (by support staff) annually transmitting reports to the funds. 13 The total annual burden estimate for compliance with rule 17f-4's reporting requirement is therefore 929 hours. 14 9 Rule 17f-4(a)(2). 10 Rule 17f-4(b)(1)(ii). 11 The 73 custodians would handle requests for reports from 3950 fund clients (approximately 54 fund clients per custodian) and the depositories from the remaining 40 funds that choose to deal directly with a depository. It is our understanding based on staff conversations with representatives of custodians that custodians and depositories transmit these reports to clients as a good business practice regardless of whether they are requested. Therefore, for purposes of this Paperwork Reduction Act calculation, the Commission staff assumes that custodians transmit the reports to all fund clients. 12 (73 custodians × 2 reports) = 146 reports × 54 fund clients per custodian = 7,884 transmissions. The staff estimates that each transmission would take approximately 7 minutes for a total of 920 hours (7 minutes × 7,884 transmissions). The estimate of time to transmit reports is based on staff conversations with representatives of custodians. 13 (16 depositories × 2 reports) = 32 reports × 2.5 fund clients per depository = 80 transmissions. The staff estimates that each transmission would take approximately 7 minutes for a total of 9 hours (7 minutes × 80 transmissions). 14 920 hours for custodians and 9 hours for securities depositories. If a fund deals directly with a securities depository, rule 17f-4 requires that the fund implement internal control systems reasonably designed to prevent an unauthorized officer's instructions (by providing at least for the form, content, and means of giving, recording, and reviewing all officers' instructions). 15 All funds that seek to rely on rule 17f-4 should have already implemented these internal control systems when the rule was amended. Therefore, this is a one-time event and does not contain an ongoing collection of information requirement. 16 15 Rule 17f-4(b)(2). 16 The Commission staff assumes that new funds relying on rule 17f-4 would choose to use a custodian instead of directly dealing with a securities depository because of the high costs associated with maintaining an account with a securities depository. Thus new funds would not be subject to this condition. Based on the foregoing, the Commission staff estimates that the total annual hour burden of the rule's collection of information requirement is 929 hours. The estimates of average burden hours are made solely for the purposes of the Paperwork Reduction Act. These estimates are not derived from a comprehensive or even a representative survey or study of the costs of Commission rules. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Please direct general comments regarding the above information to the following persons:

(i)Desk Officer for the Securities and Exchange Commission, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or e-mail to: *Alexander_T._Hunt@omb.eop.gov;* and

(ii)R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-mail to: *PRA_Mailbox@sec.gov.* Comments must be submitted to OMB within 30 days of this notice. August 30, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17584 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549-0213. Extension: Rule 206(4)-2, SEC File No. 270-217, OMB Control No. 3235-0241 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 *et seq.* ), the Securities and Exchange Commission (“Commission”) has submitted to the Office of Management and Budget (“OMB”) a request for extension and revision of the previously approved collection of information discussed below. Rule 206(4)-2 (17 CFR 275.206(4)-2) under the Investment Advisers Act of 1940 (15 U.S.C. 80b-1 *et seq.* ) governs the custody of funds or securities of clients by Commission-registered investment advisers. Rule 206(4)-2 requires each investment adviser that has custody of client funds or securities to maintain those client funds or securities with a broker-dealer, bank or other “qualified custodian.” The rule also requires the adviser to promptly notify the clients as to the place and manner of custody, to send quarterly account statements to each client whose assets are in the adviser's custody, and to have an independent public accountant conduct an annual surprise examination of the custodied assets. If the qualified custodian sends monthly account statements directly to an adviser's clients, however, the adviser is relieved from sending its own account statements and undergoing an annual surprise examination. The rule exempts advisers from the rule with respect to clients that are registered investment companies. The rule also exempts advisers to limited partnerships and limited liability companies from the account statement delivery and annual surprise examination requirements if the limited partnerships or limited liability companies they advise are subject to annual audit by an independent public accountant. Advisory clients use this information to confirm proper handling of their accounts. The Commission's staff uses the information obtained through these collections in its enforcement, regulatory and examination programs. Without the information collected under the rule, the Commission would be less efficient and effective in its programs and clients would not have information valuable for monitoring an adviser's handling of their accounts. The respondents to this information collection are investment advisers registered with the Commission and have custody of clients' funds or securities. The staff estimates that 3352 advisers would be subject to the information collection burden under the rule 206(4)-2. The number of responses under rule 206(4)-2 will vary considerably depending on the number of clients for which an adviser has custody of funds or securities. It is estimated that the average number of responses annually for each respondent would be 247,794, and the average time of .5 hour per response would remain the same. The annual aggregate burden for all respondents to the requirements of rule 206(4)-2 is estimated to be 415,303 hours. This collection of information is found at 17 CFR 275.206(4)-2 and is mandatory. Commission-registered investment advisers are required to maintain and preserve certain information required under rule 206(4)-2 for five years. The long-term retention of these records is necessary for the Commission's examination program to ascertain compliance with the Investment Advisers Act. The estimated average burden hours are made solely for the purposes of Paperwork Reduction Act and are not derived from a comprehensive or even representative survey or study of the cost of Commission rules and forms. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Please direct general comments regarding the above information to the following persons:

(i)Desk Officer for the Securities and Exchange Commission, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or e-mail to: *Alexander_T._Hunt@omb.eop.gov* and

(ii)R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-mail to: *PRA_Mailbox@sec.gov* . Comments must be submitted to OMB within 30 days of this notice. August 30, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17585 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. IC-27960; File No. 812-13365] Minnesota Life Insurance Company, et al. ; Notice of Application August 30, 2007. AGENCY: The Securities and Exchange Commission (“Commission”). ACTION: Notice of application for an order pursuant to Section 6(c) of the Investment Company Act of 1940, as amended (the “1940 Act”) granting exemptions from the provisions of Sections 2(a)(32) and 27(i)(2)(A) of the 1940 Act and Rule 22c-1 thereunder. *Applicants:* Minnesota Life Insurance Company (“Minnesota Life”), Variable Annuity Account (“Separate Account”), and Securian Financial Services, Inc. (“SFS”) (collectively, “Applicants”). *Summary of Application:* Applicants seek an order pursuant to Section 6(c) of the 1940 Act, exempting them from the provisions of Sections 2(a)(32) and 27(i)(2)(A) of the 1940 Act and Rule 22c-1 thereunder to the extent necessary to permit recapture of certain credit enhancements (“Credit Enhancements”) applied to purchase payments made in consideration of certain deferred variable annuity contracts, including data pages, riders and endorsements, described herein that Minnesota Life intends to issue (the “Current Contracts”). Applicants also request that the exemptive relief extend to:

(1)Any deferred variable annuity contracts, including data pages, riders and endorsements, substantially similar to the Current Contracts that Minnesota Life may issue in the future (the “Future Contracts”) (Current Contracts and Future Contracts referred to collectively as the “Contracts”);

(2)any other separate accounts of Minnesota Life and their successors in interest (“Future Accounts”) that support the Contracts; and

(3)any National Association of Securities Dealers, Inc. (“NASD”) member broker-dealers controlling, controlled by, or under common control with any Applicant, whether existing or created in the future, that in the future, may act as principal underwriter for the Contracts (“Future Underwriters”). The circumstances under which the Contracts would allow the recapture of all or a portion of certain Credit Enhancements (previously applied to premium payments) are where the Credit Enhancements were applied and:

(1)The Contract owner exercises his or her right to cancellation or “free look” right to surrender the Contract;

(2)in the event of death within twelve months of the Credit Enhancement being applied (unless the Contract is continued under the surviving spouse benefit continuation option); or

(3)partial withdrawal, annuitization, or surrender of the Contract in the first seven Contract Years, (pursuant to the Credit Enhancement recapture formula set forth below). A “Contract Year” is a period of one year beginning with the contract issue date and continuing up to, but not including, the next contract anniversary or beginning with a contract anniversary and continuing up to, but not including, the next contract anniversary. *Filing Date:* The application was filed on February 15, 2007, and amended on August 27, 2007. *Hearing or Notification of Hearing:* An order granting the application will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Secretary of the Commission and serving Applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on September 24, 2007, and should be accompanied by proof of service on Applicants, in the form of an affidavit or, for lawyers, a certificate of service. Hearing requests should state the nature of the writer's interest, the reason for the request, and the issues contested. Persons may request notification of a hearing by writing to the Secretary of the Commission. ADDRESSES: Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. Applicants, c/o Michael P. Boyle, Senior Counsel, Minnesota Life Insurance Company, 400 Robert Street North, St. Paul, Minnesota 55101. FOR FURTHER INFORMATION CONTACT: Ellen J. Sazzman, Senior Counsel, at

(202)551-6762, or Harry Eisenstein, Branch Chief, at

(202)551-6795, Office of Insurance Products, Division of Investment Management. SUPPLEMENTARY INFORMATION: The following is a summary of the Application. The complete Application is available for a fee from the SEC's Public Reference Branch, 100 F Street, NE., Washington, DC 20549 ((202) 551-8090). Applicants' Representations 1. Minnesota Life is a Minnesota stock life insurance company. Minnesota Life was formerly known as the Minnesota Mutual Life Insurance Company (“Minnesota Mutual”), a mutual life insurance company organized in 1880 under the laws of Minnesota. Effective October 1, 1998, Minnesota Mutual reorganized by forming a mutual insurance holding company named “Minnesota Mutual Companies, Inc.” Minnesota Mutual continued its corporate existence following conversion to a Minnesota stock life insurance company named Minnesota Life Insurance Company. All of the shares of the voting stock of Minnesota Life are owned by a second tier intermediate stock holding company named “Securian Financial Group, Inc.,” which in turn is a wholly-owned subsidiary of a first tier intermediate stock holding company named “Securian Holding Company.” Securian Holding Company is a wholly-owned subsidiary of the ultimate parent, Minnesota Mutual Companies, Inc. 2. Minnesota Life is authorized to sell insurance and annuities in all states (except New York), and the District of Columbia. For purposes of the 1940 Act, Minnesota Life is the depositor and sponsor for the Separate Account. Minnesota Life also serves as depositor for several other separate accounts. Minnesota Life may establish one or more additional Future Accounts for which it will serve as depositor. 3. Minnesota Life established the Separate Account as a segregated investment account under Minnesota law on September 10, 1984. Under Minnesota law, the assets of the Separate Account attributable to the Separate Account Contracts and any other variable annuity contracts through which interests in the Separate Account are issued are owned by Minnesota Life, but are held separately from all other assets of Minnesota Life, for the benefit of the owners of, and the persons entitled to payment under, Contracts issued through the Separate Account. Consequently, such assets are not chargeable with liabilities arising out of any other business that Minnesota Life may conduct. Income, gains and losses, realized or unrealized, from each sub-account of the Separate Account (described below), are credited to or charged against that sub-account without regard to any other income, gains or losses of Minnesota Life. The Separate Account is a “separate account” as defined by Section 2(a)(37) of the 1940 Act, is registered with the Commission as a unit investment trust (File No. 811-5626), and interests in the Separate Account offered through the Contracts are registered under the Securities Act of 1933 on Form N-4. 4. The Separate Account currently is divided into a number of sub-accounts. Each sub-account invests exclusively in shares representing an interest in a separate corresponding investment portfolio of one of several series-type, open-end management investment companies. The assets of the Separate Account support one or more varieties of variable annuity contracts. Minnesota Life may issue Future Contracts through the Separate Account. Minnesota Life also may issue Contracts through Future Accounts. 5. SFS is a wholly-owned subsidiary of Securian Financial Group, Inc., which is in turn a wholly-owned subsidiary of Securian Holding Company, which is a wholly-owned subsidiary of Minnesota Mutual Companies, Inc. SFS serves as the principal underwriter of Minnesota Life separate accounts registered as unit investment trusts under the 1940 Act, including the Separate Account, and is the distributor of variable life insurance policies and variable annuity contracts issued through such separate accounts, including the Contracts. SFS is registered as a broker-dealer under the Securities Exchange Act of 1934 and is a member of the NASD. SFS may act as principal underwriter for Future Accounts of Minnesota Life and as distributor for Future Contracts. Future Underwriters also may act as principal underwriter for the Accounts and as distributor for any of the Contracts. 6. The Contracts are deferred combination variable and fixed annuity contracts that Minnesota Life may issue to individuals on a “non-qualified” basis or in connection with certain types of retirement plans that receive favorable federal income tax treatment under the Internal Revenue Code of 1986, as amended. The Contracts make available a number of sub-accounts of the Separate Account to which an owner may allocate net premium payments and associated bonus credits, called Credit Enhancement(s), which are described below. 7. The Contracts also offer fixed-interest allocation options under which Minnesota Life credits guaranteed rates of interest for various periods. These include several dollar cost averaging

(DCA)fixed account options and guaranteed term account options. A market value adjustment may apply to the fixed-interest allocation options under the Contracts in certain circumstances. 8. An owner's initial purchase payment must be at least $10,000. Thereafter, an owner may choose the amount and frequency of purchase payments, except that the minimum subsequent purchase payment is $500 ($100 for automatic payment plans). An owner may make transfers of Contract Value among and between the sub-accounts and, subject to certain restrictions, among and between the sub-accounts and the fixed-interest allocation options at any time. Contract Value is the sum of a Contract owner's values in the DCA fixed accounts, Fixed Accounts, guarantee periods of the guaranteed term account and sub-accounts of the Separate Account on any valuation date before the annuity commencement date. 9. The Contracts offer an owner a variety of annuity payment options. The owner may annuitize any time following the second contract anniversary. If a deferred sales charge would otherwise apply to Contract withdrawals at the time of annuitization, the deferred sales charge will be waived for amounts applied to provide annuity payments. In the event of an owner's (or the annuitant's, if any owner is not an individual) death prior to annuitization, the beneficiary may elect to receive the death benefit in the form of one of several annuity payment options instead of a lump sum. 10. Minnesota Life may deduct a premium tax charge from premium payments in certain states, but otherwise deducts a charge for premium taxes upon annuitization of the Contract, depending upon the jurisdiction. The Contracts provide for an annual administrative charge of $35 that Minnesota Life deducts from the Contract's accumulation value on each contract anniversary and upon a full surrender of a Contract if the greater of:

(a)Contract Value or

(b)purchase payments less withdrawals, is less than $75,000. A daily mortality and expense risk charge is deducted from the assets of the Separate Account at a rate described in the Contract. In addition, the mortality and expense risk charge is reduced after Contract Year 9 and later. As a result, the mortality and expense risk charge for the base Contract is 1.70% annually for Contract Years 1 through 9; to 1.10% for Contract Years 10 and after. A daily administrative charge is deducted from the assets of the Separate Account at an annual rate of 0.15%. The Contracts provide for a charge of $10 for each transfer of Contract Value in excess of twelve transfers per Contract Year (which charge Minnesota Life currently waives). The Contracts have a deferred sales charge which is applicable on surrender and withdrawal of accumulation values as described more fully below. A quarterly charge may be assessed depending on the type of optional living benefit elected, if any. 11. Minnesota Life does not deduct sales load from purchase payments before allocating them to a Contract owner's Contract Value. If a Contract owner withdraws Contract Value, Minnesota Life may deduct a contingent deferred sales charge, which is referred to as a deferred sales charge (“DSC”). The DSC is equal to a percentage of each purchase payment surrendered or withdrawn. The DSC is separately calculated and applied to each purchase payment at any time that the purchase payment (or part of the purchase payment) is surrendered or withdrawn. The amount of the DSC depends on how long a Contract owner's purchase payment has been held under the Contract. The DSC applicable to each purchase payment diminishes to zero over time as the purchase payment remains in the Contract. 12. The Contracts offer a standard DSC schedule as follows: Contract Years Since Payment 0-1 1-2 2-3 3-4 4-5 5-6 6-7 7-8 8-9 9+ Deferred Sales Charge 6.5% 6.5% 5.9% 5.9% 5.9% 5% 4% 3% 2% 0% The DSC does not apply to: • The annual free withdrawal amount (as discussed below). • Amounts withdrawn to pay the annual maintenance fee, any transfer charge or any periodic charges for optional riders. • Any amount attributable to recaptured Credit Enhancements. • Amounts payable as a death benefit upon the death of the owner or the annuitant, if applicable. • Amounts applied to provide annuity payments under an annuity option. • Amounts withdrawn because of an excess contribution to a tax-qualified contract (including, for example, IRAs and tax sheltered annuities). • The difference between any required minimum distribution due (according to Internal Revenue Service rules) on the Contract and any annual free withdrawal amount allowed. • A surrender or withdrawal requested any time after the first Contract Anniversary and if a Contract owner meets the requirements of a qualifying confinement in a hospital or medical care facility. • A surrender or withdrawal requested any time after the first Contract Anniversary and in the event that a Contract owner is diagnosed with a terminal illness as described in the Contract. 13. The amount withdrawn plus any DSC is deducted from the Contract Value. The amount of the DSC is determined from the percentages shown in the table above. For purposes of determining the amount of DSC, withdrawal amounts will be allocated to Contract gain up to the free withdrawal amount, and then to purchase payments on a first-in, first-out, basis. The amount of the DSC is determined by:

(a)Calculating the number of years each purchase payment being withdrawn has been in the Contract;

(b)multiplying each purchase payment being withdrawn by the appropriate DSC percentage from the table; and

(c)adding the DSC from all purchase payments calculated in (b). Unless otherwise instructed, the DSC will be deducted pro rata from all sub-accounts. During the first Contract Year, the annual free withdrawal amount is 10% of purchase payments, measured at the time of withdrawal, less any prior withdrawals made in that Contract Year. Thereafter, the annual free withdrawal amount is equal to 10% of the sum of purchase payments received by Minnesota Life within 9 years and not previously withdrawn as of the most recent Contract Anniversary. The free withdrawal amount does not apply when a Contract is surrendered. 14. Subject to state availability, an owner may elect to purchase optional living benefit riders. The optional Guaranteed Income Provider Benefit (the “GIPB Rider”) is a minimum guaranteed income benefit rider. It guarantees that a minimum amount of annuity income will be available to the owner, regardless of fluctuating market conditions, if the owner annuitizes his or her Contract on or after the rider's exercise date. The minimum guaranteed amount of annuity income will depend on the amount of purchase payments made to the Contract and any Credit Enhancements applied to the Contract, if applicable, during the specified number of Contract Years after the owner purchases the GIPB Rider; how the owner allocates the Contract Value among the sub-accounts and fixed-interest allocations; and any withdrawals and transfers the owner makes while the GIPB Rider is in effect. A daily charge for the GIPB Rider is deducted from the assets of the Separate Account at an annual rate of 0.50%. The charge does not apply after annuitization. 15. The optional guaranteed minimum withdrawal benefit rider (the “GMWB Rider”) guarantees that a certain amount may be withdrawn annually regardless of market performance and even if the Contract Value is reduced to zero. The Contract offers the guaranteed withdrawal amount until the GMWB Base (as defined in the GMWB Rider) is completely recovered. The GMWB Rider is subject to conditions and limitations. Minnesota Life will deduct a maximum annual charge of 1.00% (currently, 0.50%) of the GMWB Base (as set forth in the GMWB Rider). One quarter of the GMWB Rider charge will be taken on the GMWB effective date and at the end of every three months thereafter. The charge does not apply after annuitization. 16. The optional Guaranteed Living Withdrawal Benefit Rider (“GLWB Rider”) also guarantees that a certain amount may be withdrawn annually regardless of market performance and even if the Contract Value is reduced to zero. However, the GLWB Rider guarantees the withdrawal amounts for the life of the Contract owner. The GLWB Rider is subject to conditions and limitations. Minnesota Life will deduct an annual charge of 0.60% of Contract Value. One quarter of the GLWB Rider charge will be taken on the GLWB Rider effective date and at the end of every three months thereafter. The charge does not apply after annuitization. 17. If an owner dies before the annuity start date, the Contract provides for a death benefit payable to a beneficiary computed as of the date Minnesota Life receives written notice and due proof of death. The death benefit payable to the beneficiary depends on the death benefit option selected by the owner. The options are the guaranteed minimum death benefit which is included as part of the base Contract; or one of two optional death benefits: the Highest Anniversary Value death benefit; or the Premier Death Benefit, as each is described below. In the future, Minnesota Life may offer other death benefit riders. 18. The guaranteed minimum death benefit is part of the base Contract and is the “standard” death benefit. It equals the greater of the:

(1)Contract Value; or,

(2)the total purchase payments and Credit Enhancements, adjusted pro rata for withdrawals and transfers, less total Credit Enhancements applied within twelve months prior to death. The charge associated with this base Contract death benefit is built into the mortality and expense risk charge for the Contract. 19. The Highest Anniversary Value

(HAV)death benefit is an optional death benefit which may be elected. It equals the greater of the:

(1)Contract Value; and,

(2)the previous highest anniversary value adjusted for any purchase payments and Credit Enhancements, reduced pro rata for withdrawals and transfers, less Credit Enhancements applied within twelve months prior to death. The daily charge for the HAV death benefit is the annual rate of 0.15% of the variable Contract Value and is deducted from amounts held in the Separate Account. The charge does not apply after annuitization. 20. The Premier Death Benefit equals the greater of:

(1)The HAV death benefit value or

(2)the 5% Death Benefit Increase Value. The 5% Death Benefit Increase Value is equal to (on the date the death benefit is determined) the sum of:

(a)The portion of the Contract Value in any fixed account and guaranteed term account; and

(b)purchase payments and transfers into the Separate Account adjusted pro rata for withdrawals or transfers out of the Separate Account, accumulated to the earlier of the date Minnesota Life receives due proof of death or the Contract Anniversary following the Contract owner's eightieth birthday at an interest rate of 5% compounded annually. The sum of

(a)and

(b)is reduced by any Credit Enhancements granted within the previous 12 months. The 5% Death Benefit Increase Value shall not exceed 200% of the sum of purchase payments adjusted pro rata for any amounts previously withdrawn. The charge for the Premier Death Benefit is the annual rate of 0.35% of the variable Contract Value and is deducted from amounts held in the Separate Account. This charge does not apply after annuitization. 21. The Contract is a “bonus” annuity. Minnesota Life will credit the Contract value allocated to the sub-accounts and the fixed-interest accounts with a Credit Enhancement in an amount equal to a percentage of each purchase payment made during the first Contract Year. The Credit Enhancement amount is treated as earnings for federal tax purposes. Minnesota Life allocates the Credit Enhancement for the applicable purchase payment among the sub-accounts and fixed-interest accounts the owner selects in proportion to the purchase payment allocations. Minnesota Life applies the credit to an owner's Contract Value either by “purchasing” accumulation units of an appropriate sub-account or adding to the owner's fixed-interest allocation option values. The Credit Enhancement equals 7% of each purchase payment made in the first Contract Year. Minnesota Life reserves the right to increase or decrease the amount of the Credit Enhancement or discontinue the Credit Enhancement in the future. 22. Minnesota Life recaptures or retains the Credit Enhancements in several circumstances. First, Minnesota Life recaptures or retains 100% of the Credit Enhancements in the event that the owner exercises his or her cancellation right during the “free look” period. Second, Minnesota Life recaptures the Credit Enhancements applied to purchase payments made within twelve months of the date a death benefit is paid (unless the Contract is continued under the surviving spouse benefit continuation option). Third, Minnesota Life also will recapture part or all of the applicable Credit Enhancement upon surrender, withdrawal or where amounts are applied to provide annuity payments, within seven years of the Contract effective date. 23. In the event of a surrender, withdrawal or where amounts are applied to provide annuity payments, within seven years of the Contract effective date, Minnesota Life will recapture or deduct an amount equal to a percentage of the Credit Enhancement(s) not yet vested. On each Contract Anniversary, an amount equal to 14.2857% or one-seventh (1/7) of the Credit Enhancement(s) not previously recaptured will vest. All Credit Enhancements will be fully vested at the end of seven years from the Contract effective date. The value of the Credit Enhancement(s) only fully vests, or belongs irrevocably to the owner, when the recapture period for the Credit Enhancement expires. The following table summarizes the vesting schedule and recapture percentage of the Credit Enhancements: Contract year Percentage vested Fraction Credit enhancement recapture percentage 0 (issue up to 1st anniversary) 0 0 100 1 14.2857 1/7 85.7143 2 28.5714 2/7 71.4286 3 42.8571 3/7 57.1429 4 57.1429 4/7 42.8571 5 71.4286 5/7 28.5714 6 85.7143 6/7 14.2857 7+ 100 7/7 0 24. The percentage that will be recaptured may be calculated by subtracting any applicable free withdrawal amount from the amount requested as a withdrawal, surrender or amount to be applied as annuity payments, and dividing the result by the Contract Value immediately prior to the requested transaction. The amount of the Credit Enhancements that will be recaptured if the owner takes a withdrawal, surrender the contract or annuitize the contract in the first seven years may be calculated with the following formula: EN06SE07.000 25. The dollar amount of the Credit Enhancement recaptured will never exceed the dollar amount of the Credit Enhancement added to the contract. In other words, Minnesota Life does not recapture the investment gain/loss—only the dollar amount of the Credit Enhancement added to the Contract. Minnesota Life will not recapture Credit Enhancements attributable to amounts withdrawn representing the annual free withdrawal amount. 26. With regard to variable Contract Value, several consequences flow from the foregoing. First, increases in the value of accumulation units representing Credit Enhancements accrue to the owner immediately, but the initial value of such units only belongs to the owner when, or to the extent that, the Credit Enhancements vest. Second, decreases in the value of accumulation units representing Credit Enhancements do not diminish the dollar amount of Contract Value subject to recapture. Therefore, additional accumulation units must become subject to recapture as their value decreases. Stated differently, the proportionate share of any owner's variable Contract Value (or the owner's interest in the Separate Account) that Minnesota Life needs to “recapture” to avoid anti-selection increases as variable Contract Value (or the owner's interest in the Separate Account) decreases. This has the potential to dilute somewhat the contract owner's interest in his/her contract as compared to other contract owners who do not trigger the recapture provisions. (Anti-selection in this context refers to the risk to Minnesota Life that contract owners with a declining contract value and who choose to withdraw or surrender their contract would be doing so at a point in time where accumulation units have a lower value.) Lastly, because it is not administratively feasible to track the unvested value of Credit Enhancements in the Separate Account, Minnesota Life deducts the daily mortality and expense risk charge and the daily administrative charge from the entire net asset value of the Separate Account. As a result, the daily mortality and expense risk charge, the daily administrative charge, and any optional benefit charges paid by any owner may be greater than that which he or she would pay without the Credit Enhancement. In other words, any asset based fees taken on a dollar amount that is subsequently recaptured cannot be refunded to contract owners. Applicants' Legal Analysis 1. Applicants request that the Commission issue an order pursuant to Section 6(c) of the 1940 Act to exempt Applicants with respect to

(1)the Contracts,

(2)Future Accounts that support the Contracts, and

(3)Future Underwriters of the Contracts from the provisions of Sections 2(a)(32) and 27(i)(2)(A) of the 1940 Act and Rule 22c-1 thereunder, to the extent necessary to permit the recapture of all or a portion of the Credit Enhancements (previously applied to premium payments) where the Credit Enhancements were applied and

(1)the Contract owner exercises his or her “free look” right,

(2)in the event of death within twelve months of the Credit Enhancements being applied (unless the Contract is continued under the surviving spouse benefit continuation option), or

(3)partial withdrawal, annuitization, or surrender of the Contract in the first seven Contract Years (pursuant to the Credit Enhancement recapture formula described above). 2. Section 6(c) of the 1940 Act authorizes the Commission to exempt any person, security or transaction, or any class or classes of persons, securities or transactions from the provisions of the 1940 Act and the rules promulgated thereunder, if and to the extent that such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the 1940 Act. 3. Subsection

(i)of Section 27 provides that Section 27 does not apply to any registered separate account supporting variable annuity contracts, or to the sponsoring insurance company and principal underwriter of such account, except as provided in paragraph

(2)of subsection (i). Paragraph

(2)provides that it shall be unlawful for a registered separate account or sponsoring insurance company to sell a variable annuity contract supported by the separate account unless the “ * * * contract is a redeemable security; and * * * [t]he insurance company complies with Section 26(e) * * *. ” 4. Section 2(a)(32) defines a “redeemable security” as any security, other than short-term paper, under the terms of which the holder, upon presentation to the issuer, is entitled to receive approximately his proportionate share of the issuer's current net assets, or the cash equivalent thereof. 5. Rule 22c-1 imposes requirements with respect to both the amount payable on redemption of a redeemable security and the time as of which such amount is calculated. In the pertinent part, Rule 22c-1 prohibits a registered investment company issuing any redeemable security, a person designated in such issuer's prospectus as authorized to consummate transactions in any such security, and a principal underwriter of, or dealer in, such security from selling, redeeming or repurchasing any such security, except at a price based on the current net asset value of such security which is next computed after receipt of a tender of such security for redemption or of an order to purchase of such security. 6. Applicants submit that to the extent that the recapture of the Credit Enhancement arguably could be seen as a discount from the net asset value, or arguably could be viewed as resulting in the payment to an owner of less than the proportional share of the issuer's net assets, in violation of Sections 2(a)(32) or 27(i)(2)(A) of the 1940 Act, the Credit Enhancement recapture would then trigger the need for relief absent some exemption from the 1940 Act. Rule 6c-8 provides, in relevant part, that a registered separate account, and any depositor of such account, shall be exempt from Sections 2(a)(32), 27(c)(1), 27(c)(2) and 27(d) of the 1940 Act and Rule 22c-1 thereunder to the extent necessary to permit them to impose a deferred sales load on any variable annuity contract participating in such account. Applicants assert, however, that the Credit Enhancement recapture is not a sales load but a recapture of a Credit Enhancement previously applied to an owner's purchase payments. Minnesota Life provides the Credit Enhancement from its general account on a guaranteed basis. The Contracts are designed to be long-term investment vehicles. In undertaking this financial obligation, Minnesota Life contemplates that an owner will retain a Contract over an extended period, consistent with the long-term nature of the Contracts. Minnesota Life contends that it designed the Contract so that it would recover its costs (including the Credit Enhancements) over an anticipated duration while a Contract is in force. If an owner withdraws his or her money during the free look period, a death benefit is paid, or a withdrawal or surrender is made before this anticipated period, Minnesota Life asserts it must recapture the Credit Enhancement subject to recapture in order to avoid a loss. 7. Applicants submit that the proposed Credit Enhancement would not violate Sections 2(a)(32) or 27(i)(2)(A) of the 1940 Act. Minnesota Life would grant Credit Enhancements out of its general account assets and the amount of the Credit Enhancement (although not the earnings on such amounts) would remain Minnesota Life's until such amounts vest with the owner. Until the appropriate recapture period expires, Minnesota Life retains the right to and interest in each owner's Contract Value representing the dollar amount of any unvested Credit Enhancement. Therefore, Applicants submit that if Minnesota Life recaptures any Credit Enhancements or part of a Credit Enhancement in the circumstances described above, it would merely be retrieving its own assets. Applicants further submit that to the extent that Minnesota Life may grant and recapture Credit Enhancements in connection with variable Contract Value, it would not, at either time, deprive any owner of his or her then proportionate share of the Separate Account's assets. 8. Applicants further submit that the dynamics of the proposed Credit Enhancements would not violate Section 2(a)(32) or 27(i)(2)(A) of the 1940 Act because the recapture of Credit Enhancements would not, at any time, deprive an owner of his or her proportionate share of the current net assets of the Separate Account. Section 2(a)(32) defines a redeemable security as one “under the terms of which the holder, *upon presentation to the issuer,* is entitled to receive *approximately* his proportionate share of the issuer's *current* net asset value.” Applicants assert that taken together, these two sections of the 1940 Act do not require that the holder receive the exact proportionate share that his or her security represented at a prior time. Therefore, Applicants submit that the fact that the proposed Credit Enhancement provisions have a dynamic element that may cause the relative ownership positions of Minnesota Life and a Contract owner to shift due to Separate Account performance and the vesting schedule of such Credit Enhancements, would not cause the provisions to conflict with Sections 2(a)(32) or 27(i)(2)(A). Nonetheless, in order to avoid any uncertainty as to full compliance with the 1940 Act, Applicants seek exemptions from these two sections. 9. Minnesota Life's granting of Credit Enhancements would have the result of increasing an owner's Contract Value in a way that arguably could be viewed as the purchase of an interest in the Separate Account at a price below the current net asset value. Similarly, Minnesota Life's recapture of any Credit Enhancements arguably could be viewed as the redemption of such an interest at a price above the current net asset value. If such is the case, then the Credit Enhancements arguably could be viewed as conflicting with Rule 22c-1. Applicants contend that these are not correct interpretations or applications of these statutory and regulatory provisions. Applicants also contend that the Credit Enhancements do not violate Rule 22c-1. 10. Rule 22c-1 was intended to eliminate or reduce, as far as was reasonably practicable:

(1)The dilution of the value of outstanding redeemable securities of registered investment companies through their sale at a price below net asset value or their redemption at a price above net asset value; or

(2)other unfair results, including speculative trading practices. Applicants submit that the industry and regulatory concerns prompting the adoption of Rule 22c-1 were primarily the result of backward pricing, the practice of basing the price of a mutual fund share on the net asset value per share determined as of the close of the market on the previous day. Backward pricing permitted certain investors to take advantage of increases or decreases in net asset value that were not yet reflected in the price, thereby diluting the values of outstanding shares. 11. Applicants submit that the Credit Enhancements do not give rise to either of the two concerns that Rule 22c-1 was designed to address. First, Applicants contend that the proposed Credit Enhancements pose no such threat of dilution. An owner's interest in his or her Contract Value or in the Separate Account would always be offered at a price based on the net asset value next calculated after receipt of the order. The granting of a Credit Enhancement does not reflect a reduction of that price. Instead, Minnesota Life would purchase with its general account assets, on behalf of the owner, an interest in the Separate Account equal to the Credit Enhancement. Because the Credit Enhancement will be paid out of the general account assets, not the Separate Account assets, Applicants submit that no dilution will occur as a result of the Credit Enhancement. Recaptures of Credit Enhancements result in a redemption of Minnesota Life's interest in an owner's Contract Value or in the Separate Account at a price determined based on the Separate Account's current net asset value and not at an inflated price. Moreover, the amount recaptured will always equal the amount that Minnesota Life paid from its general account for the Credit Enhancement. Similarly, although an owner is entitled to retain any investment gains attributable to the Credit Enhancement, the amount of such gains would always be computed at a price determined based on net asset value. 12. Second, Applicants submit that speculative trading practices calculated to take advantage of backward pricing will not occur as a result of Minnesota Life's recapture of the Credit Enhancement. Variable annuities are designed for long-term investment, and by their nature, do not lend themselves to the kind of speculative short-term trading that Rule 22c-1 was designed to prevent. More importantly, the Credit Enhancement recapture simply does not create the opportunity for speculative trading. 13. Applicants submit that Rule 22c-1 should have no application to the Credit Enhancement available, as neither of the harms that Rule 22c-1 was intended to address arise in connection with the proposed Credit Enhancement. Nonetheless, in order to avoid any uncertainty as to full compliance with the 1940 Act, Applicants request an exemption from the provisions of Rule 22c-1. 14. Applicants submit that the Commission should grant the exemptions requested in this Application even if the Credit Enhancement arguably conflicts with Sections 2(a)(32) or 27(i)(2)(A) of the 1940 Act or Rule 22c-1 thereunder. Applicants assert that the Credit Enhancement is generally beneficial to an owner. The recapture tempers this benefit somewhat, but unless the owner dies very soon after Contract issue, the owner retains the ability to avoid the Credit Enhancement recapture in the circumstances described herein. While there would be a small downside in a declining market where losses on the Credit Enhancement amount would vest with him or her immediately, it is the converse of the benefits an owner would receive on the Credit Enhancement amounts in a rising market because earnings on the Credit Enhancement amount vest with him or her immediately. As any earnings on Credit Enhancements applied would not be subject to recapture and thus would be immediately available to an owner, likewise any losses on Credit Enhancements would also not be subject to recapture and thus would be immediately available to an owner. Applicants submit that the Credit Enhancement recapture does not diminish the overall value of the Credit Enhancement. 15. Applicants assert that the Credit Enhancement recapture provision is necessary for Minnesota Life to offer the Credit Enhancement and avoid anti-selection against it. Applicants submit it would be unfair to Minnesota Life to permit an owner to keep his or her Credit Enhancement upon his or her exercise of the Contract's “free look” provision. Because no DSC applies to the exercise of the “free look” provision, the owner could obtain a quick profit in the amount of the Credit Enhancement at Minnesota Life's expense by exercising that right. Similarly, the owner could take advantage of the Credit Enhancement by taking withdrawals within the recapture period, because the cost of providing the Credit Enhancement is recouped through charges imposed over a period of years. Likewise, because no additional DSC applies upon death of an owner (or annuitant), a death shortly after the award of Credit Enhancement would afford an owner or a beneficiary a similar profit at Minnesota Life's expense. 16. Applicants submit that in the event of such profits to an owner or beneficiary, Minnesota Life could not recover the cost of granting the Credit Enhancements. This is because Minnesota Life intends to recoup the costs of providing the Credit Enhancement through the charges under the Contract, particularly the daily mortality and expense risk charge and the daily administrative charge. Applicants assert that if the profits described above are permitted, an owner could take advantage of them, reducing the base from which the daily charges are deducted and greatly increasing the amount, and cost, of Credit Enhancements that Minnesota Life must provide. Therefore, the recapture provisions are a price of offering the Credit Enhancements. Applicants submit that Minnesota Life simply cannot offer the proposed Credit Enhancements without the ability to recapture those Credit Enhancements in the limited circumstances described herein. 17. Applicants state that the Commission's authority under Section 6(c) of the 1940 Act to grant exemptions from various provisions of the 1940 Act and rules thereunder is broad enough to permit orders of exemption that cover classes of unidentified persons. Applicants request an order of the Commission that would exempt them, Minnesota Life's successors in interest, Future Accounts and Future Underwriters from the provisions of Sections 2(a)(32) and 27(i)(2)(A) of the 1940 Act and Rule 22c-1 thereunder with respect to the Contracts. The exemption of these classes of persons is appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the 1940 Act because all of the potential members of the class could obtain the foregoing exemptions for themselves on the same basis as the Applicants, but only at a cost to each of them that is not justified by any public policy purpose. As discussed below, the requested exemptions would only extend to persons that in all material respects are the same as the Applicants. Applicants submit that the Commission has previously granted exemptions to classes of similarly situated persons in various contexts and in a wide variety of circumstances, including class exemptions for recapturing bonus-type credits under variable annuity contracts. 18. Applicants represent that any Future Contracts will be substantially similar in all material respects to the Current Contracts, but particularly with respect to the Credit Enhancements and recapture of Credit Enhancements and that each factual statement and representation about the Credit Enhancement feature will be equally true of any Contracts in the future. Applicants also represent that each material representation made by them about the Separate Account and SFS will be equally true of Future Accounts and Future Underwriters, to the extent that such representations relate to the issues discussed in the Application. In particular, each Future Underwriter will be registered as a broker-dealer under the Securities Exchange Act of 1934 and be an NASD member. 19. Based upon the foregoing, Applicants submit that the proposed Credit Enhancement involves none of the abuses to which provisions of the 1940 Act and rules thereunder are directed. The owner will always retain the investment experience attributable to the Credit Enhancement and will retain the principal amount in all cases except under the circumstances described herein. Further, Applicants assert that Minnesota Life should be able to recapture such Credit Enhancement to limit potential losses associated with such Credit Enhancements. Conclusions Applicants submit that the exemptions requested are necessary or appropriate in the public interest, consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the 1940 Act, and consistent with and supported by Commission precedent. Applicants also submit that the provisions for recapture of any Credit Enhancement under the Contracts does not violate Section 2(a)(32) and 27(i)(2)(A) of the 1940 Act and Rule 22c-1 thereunder. Applicants hereby request that the Commission issue an order pursuant to Section 6(c) of the 1940 Act to exempt the Applicants with respect to

(1)the Contracts,

(2)Future Accounts that support the Contracts, and

(3)Future Underwriters from the provisions of Sections 2(a)(32) and 27(i)(2)(A) of the 1940 Act and Rule 22c-1 thereunder, to the extent necessary to permit the recapture of all or a portion of the Credit Enhancement(s) (previously applied to purchase payments) where the credit was applied and

(1)the Contract owner exercises his or her “free look” right,

(2)in the event of death within twelve months of the Credit Enhancement being applied (unless the Contract is continued under the surviving spouse benefit continuation option), or

(3)partial withdrawal, annuitization, or surrender of the Contract in the first seven Contract Years (pursuant to the Credit Enhancement recapture formula described above). For the Commission, by the Division of Investment Management, pursuant to delegated authority. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17573 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Pub. L. 94-409, that the Securities and Exchange Commission will hold the following meeting during the week of September 10, 2007: A Closed Meeting will be held on Monday, September 10, 2007 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B), and

(10)and 17 CFR 200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Atkins, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matter of the Closed Meeting scheduled for Monday, September 10, 2007 will be: Formal orders of investigations; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; and Resolution of litigation claims. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at

(202)551-5400. August 31, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17640 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Sunshine Act Meeting; Federal Register Citation of Previous Announcement: [to be published] Status: Open Meeting. Place: 100 F Street, NE., L-002, Auditorium, Washington, DC. Announcement of Additional Meeting: Open Meeting. The Commission has scheduled an Open Meeting for Monday, September 10, 2007 at 10 a.m. in the Auditorium, Room L-002. The SEC will hold its second annual Seniors Summit at its headquarters, 100 F Street, NE., Washington DC 20549. The event will further examine how regulators, community organizations, and others can increasingly coordinate efforts to protect older Americans from abusive sales practices and investment fraud. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at

(202)551-5400. Dated: August 30, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17672 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56336; File No. SR-Amex-2007-35] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of Proposed Rule Change as Modified by Amendment No. 1 Thereto Relating to the Criteria for Securities That Underlie Options Traded on the Exchange August 29, 2007. 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 April 5, 2007, the American Stock Exchange LLC (“Amex” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I, II, and III below, which Items have been substantially prepared by the Amex. On August 20, 2007, the Exchange filed Amendment No. 1 to the proposed rule change. 3 The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 Amendment No. 1 superseded and replaced the original filing in its entirety. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to permit the initial and continued listing and trading on the Exchange of options on Index Multiple Exchange Traded Fund Shares (“Multiple Fund Shares”) and Index Inverse Exchange Traded Fund Shares (“Inverse Fund Shares”) (collectively, the “Fund Shares”). The text of the proposed rule change is available at Amex, the Commission's Public Reference Room, and *www.amex.com.* 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 Amex included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. 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 The purpose of the proposed rule change is to revise Amex Rules 915 and 916 to enable the listing and trading on the Exchange of options on Multiple Fund Shares and Inverse Fund Shares. Multiple Fund Shares seek to provide investment results, before fees and expenses, that correspond to a specified multiple of the percentage performance on a given day of a particular foreign or domestic stock index. Inverse Fund Shares seek to provide investment results, before fees and expenses, that correspond to the inverse (opposite) of the percentage performance on a given day of a particular foreign or domestic stock index by a specified multiple. Multiple and Index Fund Shares differ from traditional exchange-traded fund (“ETFs”) shares in that they do not merely correspond to the performance of a given index, but rather attempt to match a multiple or inverse of such underlying index performance. Current Multiple Fund Shares trading on the Exchange include the ProShares Ultra Funds while the Index Inverse Fund Shares include the Short Funds and UltraShort Funds. 4 4 *See* Securities Exchange Act Release Nos. 52553 (October 3, 2005), 70 FR 59100 (October 11, 2005) (SR-Amex-2004-62) (approving the listing and trading of the Ultra Funds and Short Funds) and 54040 (June 23, 2006), 71 FR 37629 (June 30, 2006) (SR-Amex-2006-41) (approving the listing and trading of the UltraShort Funds). The Ultra Funds are expected to gain, on a percentage basis, approximately twice (200%) as much as the underlying benchmark index and should lose approximately twice (200%) as much as the underlying benchmark index when such prices decline. The Short Funds are expected to achieve investment results, before fees and expenses, that correspond to the inverse or opposite of the daily performance (-100%) of an underlying benchmark index. Lastly, the UltraShort Funds are expected to achieve investment results, before fees and expenses that correspond to twice the inverse or opposite of the daily performance (-200%) of the underlying benchmark index. In order to achieve investment results that provide either a positive multiple or inverse of the benchmark index, Multiple Fund Shares or Inverse Fund Shares may hold a combination of financial instruments, including, among other things, stock index futures contracts; options on futures; options on securities and indices; equity caps, collars and floors; swap agreements; forward contracts; repurchase agreements; and reverse repurchase agreements (the “Financial Instruments”). The underlying portfolios of Multiple Fund Shares generally will hold at least 85% of their assets in the component securities of the underlying relevant benchmark index. The remainder of any assets are devoted to Financial Instruments that are intended to create the additional needed exposure to such Underlying Index necessary to pursue its investment objective. Normally, 100% of the value of the underlying portfolios of Inverse Fund Shares will be devoted to Financial Instruments and money market instruments, including U.S. government securities and repurchase agreements (the “Money Market Instruments”). Currently, Commentary .06 to Amex Rule 915 provides securities deemed appropriate for options trading shall include shares or other securities (“Exchange-Traded Fund Shares”) that are principally traded on a national securities exchange or through the facilities of a national securities association and defined as an “NMS stock” under Rule 600 of Regulation NMS, and that

(i)represent an interest in a registered investment company organized as an open-end management investment company, a unit investment trust or a similar entity which holds securities constituting or otherwise based on or representing an investment in an index or portfolio of securities;

(ii)represent interest in a trust or other similar entity that holds a specified non-U.S. currency and/or currencies deposited with the trust or similar entity when aggregated in some specified minimum number may be surrendered to the trust by the beneficial owner to receive the specified non-U.S. currency and/or currencies and pays the beneficial owner interest and other distributions on the deposited non-U.S. currency and/or currencies, if any, declared and paid by the trust; or

(iii)represent commodity pool interests principally engaged, directly or indirectly, in holding and/or managing portfolios or baskets of securities, commodity futures contracts, options on commodity futures contracts, swaps, forward contracts and/or options on physical commodities and/or non-U.S. currency (“Commodity Pool ETFs”). The Exchange proposes to amend Commentary .06 to Amex Rule 915 to expand the type of options to include the listing and trading of options based on Multiple Fund Shares and Inverse Fund Shares 5 that may hold or invest in any combination of securities, Financial Instruments and/or Money Market Instruments. Multiple Fund Shares and Inverse Fund Shares will continue to otherwise satisfy the listing standards in Commentary .06 to Amex Rule 915. In addition, the Exchange proposes to remove the reference to a “national securities association” in Commentary .06 to Amex Rule 915. 5 *See* Amex Rule 1000A—AEMI(b)(2). As set forth in proposed amended Commentary .06 to Amex Rule 915, Multiple Fund Shares and Inverse Fund Shares must be traded on a national securities exchange and must be an “NMS stock” as defined under Rule 600 of Regulation NMS. In addition, Multiple Fund Shares and Inverse Fund Shares must meet either:

(i)The criteria and guidelines under Commentary .01 to Amex Rule 915; or

(ii)be available for creation or redemption each business day in cash or in kind from the investment company at a price related to net asset value. In addition, the investment company shall provide that shares may be created even though some or all of the securities and/or cash (in lieu of the Financial Instruments) needed to be deposited have not been received by the investment company, provided the authorized creation participant has undertaken to deliver the shares and/or cash as soon as possible and such undertaking has been secured by the delivery and maintenance of collateral consisting of cash or cash equivalents satisfactory to the fund which underlies the option as described in the prospectus. The current continuing or maintenance listing standards for options on Exchange Traded Fund Shares will continue to apply. The Exchange proposes to amend Commentary .07 to Amex Rule 916 to indicate that the index or portfolio may consist of securities, Financial Instruments and/or Money Market Instruments. The Exchange also seeks to delete references to “national market securities,” “national securities association”, and “national market association” set forth in Commentary .07 to Amex Rule 916. Under the applicable continued listing criteria in Commentary .07 to Amex Rule 916, options on Fund Shares may be subject to the suspension of opening transactions as follows:

(1)Following the initial twelve-month period beginning upon the commencement of trading of the Fund Shares, there are fewer than 50 record and/or beneficial holders of the Fund Shares for 30 or more consecutive trading days;

(2)the value of the index, non-U.S. currency, portfolio of commodities including commodity futures contracts, options on commodity futures contracts, swaps, forward contracts and/or options on physical commodities, or portfolio of securities and/or Financial Instruments on which the Fund Shares are based is no longer calculated or available; or

(3)such other event occurs or condition exists that in the opinion of the Exchange makes further dealing on the Exchange inadvisable. Additionally, the Fund Shares shall not be deemed to meet the requirements for continued approval, and the Exchange shall not open for trading any additional series of option contracts of the class covering such Multiple Fund Shares or Inverse Fund Shares, if the Shares are halted from trading on their primary market or if the Shares are delisted in accordance with the terms of Amex Rule 916 or the value of the index or portfolio on which the Shares are based is no longer calculated or available. The expansion of the types of investments that may be held by Multiple Fund Shares or Inverse Fund Shares under Commentary .06 to Amex Rule 915 will not have any effect on the rules pertaining to position and exercise limits 6 or margin. 7 6 *See* Amex Rules 904 and 905. 7 *See* Amex Rule 462. This proposal is necessary to enable the Exchange to list and trade options on the shares of the Ultra Fund, Short Fund and UltraShort Fund of the ProShares Trust. 8 We believe the ability to trade options on Multiple and Inverse Fund Shares will provide investors with greater risk management tools. The proposed amendment to the Exchange's listing criteria for options on Exchange Traded Fund Shares is necessary to ensure that the Exchange will be able to list options on the Funds of the ProShares Trust as well as other Multiple Fund Shares or Inverse Fund Shares that may be introduced in the future. 8 *See supra,* note 4. The Exchange in this proposal also seeks to add “reverse repurchase agreements” within the rule text of Amex Rule 1000A-AEMI(b)(2)(ii) in order to correct the definition of Financial Instruments. The Exchange represents that its existing surveillance procedures applicable to trading in options are adequate to properly monitor the trading in Multiple Fund Shares options and Inverse Fund Shares options. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) of the Act, 9 in general, and furthers the objectives of Section 6(b)(5) of the Act, 10 in particular, in that it is designed 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. 9 15 U.S.C. 78f(b). 10 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 will 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 Written comments on the proposed rule change were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the **Federal Register** or within such longer period

(i)as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or

(ii)as to which the Exchange consents, the Commission will:

(A)by order approve such proposed rule change, or

(B)institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, 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 No. SR-Amex-2007-35 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File No. SR-Amex-2007-35. 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 at *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, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. 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 No. SR-Amex-2007-35 and should be submitted on or before September 27, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 11 Florence E. Harmon, Deputy Secretary. 11 17 CFR 200.30-3(a)(12). [FR Doc. E7-17544 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56338; File No. SR-CBOE-2007-94] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the ORS Order Cancellation Fee August 29, 2007. 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 August 1, 2007, the Chicago Board Options Exchange, Incorporated (the “CBOE” or the “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 substantially prepared by the CBOE. The CBOE has filed the proposed rule change as one establishing or changing a due, fee, or other charge imposed by the Exchange under Section 19(b)(3)(A)(ii) of the Act 3 and Rule 19b-4(f)(2) thereunder, 4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b-4(f)(2). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The CBOE proposes to amend its Order Routing System (“ORS”) order cancellation fee. The text of the proposed rule change is available at CBOE, the Commission's Public Reference Room, and *http://www.cboe.org/legal.* 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 CBOE included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The CBOE 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 The CBOE currently assesses an executing clearing member $1 for each cancelled ORS order in excess of the number of orders that the executing clearing member executes in a month for a customer or for itself. The purpose of the fee is to ease order backlogs on ORS. The fee is not charged if less than 500 ORS orders are cancelled in the month. The following ORS cancellation activity is exempt from the fee:

(i)Cancelled ORS orders that improve the Exchange's prevailing bid-offer

(BBO)market when received; and

(ii)fill and cancellation activity occurring within the first one minute of trading following the opening of each option class. The Exchange proposes three changes to the fee. First, the Exchange proposes to calculate the fee by counting only public customer (non-broker-dealer) orders. The Exchange believes this change is appropriate since public customer orders in many products traded on the Exchange are not assessed transaction fees while all non-customer orders pay transaction fees, which helps offset cancellation costs. Second, the Exchange proposes to aggregate and count as one executed order for purposes of the fee, all public customer options orders from the same executing clearing member for itself or for a correspondent firm that are executed in the same series on the same side of the market at the same price within a 30 second period. This proposed change is intended to discourage firms from entering and executing multiple small orders to offset the cancellation of larger orders for purposes of avoiding the fee. Third, the Exchange proposes to increase the fee from $1.25 to $1.50 per cancelled ORS order. The proposed ORS order cancellation fee is similar to the cancellation fee of the International Securities Exchange. The Exchange intends to implement the proposed fee change on August 1, 2007. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) of the Act 5 , in general, and furthers the objectives of Section 6(b)(4) 6 of the Act in particular, in that it is designed to provide for the equitable allocation of reasonable dues, fees, and other charges among CBOE members and other persons using its facilities. 5 15 U.S.C. 78f(b). 6 15 U.S.C. 78f(b)(4). B. Self-Regulatory Organization's Statement on Burden on Competition CBOE does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of purposes of the Act. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change establishes or changes a due, fee, or other charge imposed by the Exchange, it has become effective pursuant to Section 19(b)(3)(A) of the Act 7 and Rule 19b-4(f)(2) 8 thereunder. At any time within 60 days of the filing of the proposed rule change the Commission may summarily abrogate such proposed rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. 7 15 U.S.C. 78s(b)(3)(A). 8 17 CFR 19b-4(f)(2). IV. 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-CBOE-2007-94 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-CBOE-2007-94. 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, 100 F Street, NE, Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of CBOE. 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-CBOE-2007-94 and should be submitted on or before September 27, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 9 9 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17572 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56332; File No. SR-NYSE-2007-76] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change Relating To Requirements for Listing of Commodity-Linked Securities and Currency-Linked Securities August 29, 2007. 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 August 22, 2007, 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, II, and III below, which Items have been substantially prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 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 proposes to amend Section 703.22 of the NYSE Listed Company Manual (the “Manual”), which permits the listing of commodity-linked securities (“Commodity-Linked Securities”) and currency-linked securities (“Currency-Linked Securities”), among other securities. The text of the proposed rule change is available at NYSE, the Commission's Public Reference Room, and *http://www.nyse.com.* 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 IV 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 The Exchange proposes to amend Section 703.22(B)(II)(1)(b) and Section 703.22(B)(III)(1)(b) of the Manual to permit the listing and trading of Commodity-Linked Securities and Currency-Linked Securities, respectively, where the underlying Commodity Reference Asset 3 or Currency Reference Asset, 4 as the case may be, may include components representing not more than 10% of the dollar weight of such Commodity Reference Asset or Currency Reference Asset, for which the pricing information is derived from markets which do not meet the general requirements of the respective rule, as described below. In addition, the Exchange proposes that no single component of a Commodity Reference Asset or Currency Reference Asset, as the case may be, subject to the foregoing proposed exception may exceed 7% of the dollar weight of such Commodity Reference Asset or Currency Reference Asset. 3 Commodity Reference Asset is defined as one or more physical commodities or commodity futures, options or other commodity derivatives or Commodity Trust Shares (as defined in NYSE Rule 1300B) or a basket or index of any of the foregoing. *See* Section 703.22 of the Manual. 4 Currency Reference Asset is defined as one or more currencies, options or currency futures or other currency derivatives or Currency Trust Shares (as defined in NYSE Rule 1300A) or a basket or index of any of the foregoing. *See id* . Under Section 703.22(B)(II)(1) of the Manual, an issuance of Commodity-Linked Securities currently cannot be listed unless either: • The Commodity Reference Asset to which the security is linked shall have been reviewed and approved for the trading of Commodity Trust Shares or options or other derivatives by the Commission under Section 19(b)(2) 5 of the Act and rules thereunder and the conditions set forth in the Commission's approval order, including with respect to comprehensive surveillance sharing agreements (“CSSAs”), continue to be satisfied; or 5 15 U.S.C. 78s(b)(2). • The pricing information for each component of a Commodity Reference Asset is derived from a market which is an Intermarket Surveillance Group (“ISG”) member or affiliate or with which the Exchange has a CSSA. Notwithstanding the previous sentence, pricing information for gold and silver may be derived from the London Bullion Market Association. Similarly, under Section 703.22(B)(III)(1) of the Manual, an issuance of Currency-Linked Securities currently cannot be listed unless either: • The Currency Reference Asset to which the security is linked shall have been reviewed and approved for the trading of Currency Trust Shares or options or other derivatives by the Commission under Section 19(b)(2) of the Act and rules thereunder and the conditions set forth in the Commission's approval order, including with respect to CSSAs, continue to be satisfied; or • The pricing information for each component of a Currency Reference Asset must be

(1)the generally accepted spot price for the currency exchange rate in question or

(2)derived from a market which is

(a)an ISG member or affiliate or with which the Exchange has a CSSA and

(b)the pricing source for components of a Currency Reference Asset that has previously been approved by the Commission. The Exchange proposes to amend the requirements as to the source of pricing information for components of Commodity-Linked Securities and Currency-Linked Securities so as to permit the listing of such securities where a maximum of 10% of the dollar weight of the Commodity Reference Asset or Currency Reference Asset, as the case may be, is made up of components that do not meet the respective general pricing information requirements. In addition, the Exchange proposes that no single component subject to the proposed exception may exceed 7% of the dollar weight of the Commodity Reference Asset or Currency Reference Asset, as the case may be. The Exchange states that many commodity and currency markets are not members or affiliates of ISG, and the Exchange frequently experiences difficulty entering into CSSAs with such markets. The Exchange believes that its surveillance procedures are not materially hampered as long as it has access to trading information of underlying components that constitute at least 90% of the dollar weight of the Commodity Reference Asset or Currency Reference Asset, as the case may be, and so long as the remaining 10% of the dollar weight of the Commodity Reference Asset or Currency Reference Asset, as the case may be, is comprised of more than one component. In addition, with respect to Currency-Linked Securities, the Exchange believes that the fact that the pricing information of a Currency Reference Asset is not based on the generally accepted spot price for the relevant currency or the Commission has not approved a particular market as a pricing source for components of a Currency Reference Asset does not constitute a material risk to investors where the pricing information for at least 90% of the dollar weight of the Currency Reference Asset is either based on the generally accepted spot price or derived from Commission-approved markets. 6 6 E-mail from John Carey, Assistant General Counsel, NYSE Euronext, to Edward Cho, Special Counsel, Division of Market Regulation, Commission, dated August 27, 2007 (confirming the basis of the proposal with respect to Currency-Linked Securities). The Exchange believes that the proposed amendment would provide the Exchange with greater flexibility to list securities under Section 703.22 of the Manual that are linked to a broader range of underlying assets, thereby providing issuers with a faster and less cumbersome means of listing new Commodity-Linked Securities and Currency-Linked Securities and benefiting the investing public. The Exchange notes that the Commission has previously approved similar approaches to the instant proposal, including another provision in Section 703.22 of the Manual permitting the listing of Equity Index-Linked Securities, 7 where the underlying equity index may include foreign country securities or foreign country securities underlying American Depositary Receipts having their primary trading market outside the United States on foreign trading markets that are not members or affiliates of ISG or parties to CSSAs with the Exchange, as long as such securities do not, in the aggregate, represent more than 20% of the dollar weight of such underlying index. 8 7 Equity Index-Linked Securities are defined as securities that provide for the payment at maturity of a cash amount based on the performance of an underlying index or indexes of equity securities. *See* Section 703.22 of the Manual. 8 *See* Section 703.22(B)(I)(2)(vii) of the Manual. *See also* Securities Exchange Act Release Nos. 55687 (May 1, 2007), 72 FR 25824 (May 7, 2007) (SR-NYSE-2007-27) (approving the generic listing and trading standards for Index-Linked Securities, including Equity Index-Linked Securities); and 54013 (June 16, 2006), 71 FR 36372 (June 26, 2006) (SR-NYSE-2006-17) (approving the listing and trading of shares of the iShares GSCI Commodity Indexed Trust and providing that if a new component is added to the underlying index that constitutes more than 10% of the overall weight of the index and with whose principal trading market the Exchange does not have a comprehensive surveillance sharing agreement, the Exchange would seek to delist such shares). 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act, 9 in general, and furthers the objectives of Section 6(b)(5) of the Act, 10 in particular, in that it is designed to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, 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. 9 15 U.S.C. 78f(b). 10 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 will 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. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the **Federal Register** or within such longer period

(i)as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or

(ii)as to which the Exchange consents, the Commission will:

(A)by order approve such proposed rule change, or

(B)institute proceedings to determine whether the proposed rule change should be disapproved. The Exchange has requested accelerated approval of this proposed rule change prior to the 30th day after the date of publication of the notice of the filing thereof. The Commission is considering granting accelerated approval of the proposed rule change at the end of a 15-day comment period. IV. 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-2007-76 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-2007-76. 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, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. 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-2007-76 and should be submitted on or before September 21, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 11 11 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17543 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-56337; File No. SR-NYSE-2007-78] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Institute a Revised System of Payments to Specialist Firms August 29, 2007. 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 August 28, 2007, the New York Stock Exchange LLC (“Exchange” or “NYSE”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I, II, and III below, which Items have been substantially prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 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 proposes to change its system of payments to specialist firms by aligning specialist firms' compensation with their performance. The text of the proposed rule change is available on the Exchange's Web site ( *http://www.nyse.com* ), at the Exchange's Office of the Secretary, 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. The text of these statements may be examined at the places specified in Item IV 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 On December 1, 2006, the Exchange instituted a six-month revenue sharing program for specialist firms 3 in connection with the adoption of Exchange Rule 104B, which prohibits specialist firms from charging commissions. 4 The program was subsequently extended for an additional three-month period ending August 31, 2007. 5 The Exchange now proposes to replace the revenue sharing program with a system that provides variable payments to specialist firms for liquidity provision (“Liquidity Provision Payment” or “LPP”). 3 *See* Securities Exchange Act Release No. 54856 (December 1, 2006); 71 FR 71215 (December 8, 2006) (SR-NYSE-2006-106). 4 *See* Securities Exchange Act Release No. 54850 (November 30, 2006); 71 FR 71217 (December 8, 2006) (SR-NYSE-2006-105). 5 *See* Securities Exchange Act Release No. 55904 (June 13, 2007), 72 FR 34054 (June 20, 2007) (SR-NYSE-2007-50). LPPs will be based on two revenue sources in NYSE-listed securities (excluding exchange traded funds):

(a)The Exchange's share of market data revenue derived from its quoting share; and

(b)the Exchange's transaction fee revenue. a. Share of Market Data Revenue Derived From Its Quoting Share Pursuant to Regulation NMS, 6 the Commission revised the formula for the distribution by the Consolidated Tape Association (“CTA”) of market data quote revenue in NYSE-listed securities (Network A) among the various markets (the “Revenue Allocation Formula”). The Revenue Allocation Formula established a “Quoting Share” to reward markets that quote at the National Best Bid and Offer (“NBBO”). 7 The Exchange proposes to base a portion of its total LPP to specialist firms on the actual revenue associated with its market data Quoting Share. The Exchange will use the actual CTA-derived results from the Revenue Allocation Formula's Security Income Allocation and Quoting Share components and determine its revenue associated from the Quoting Share on a symbol-by-symbol basis, which is then aggregated by specialist firms. The Exchange will then use the results to provide each specialist firm with their quoting component of the LPP payment. In effect, the Exchange will pass through to the specialist firm for each security all of the Quoting Share revenue associated with that security. The Exchange believes that this will provide an additional incentive to the specialist firms to post quotes more frequently at the NBBO and also to increase the size of the quote at the NBBO, as they will benefit directly from the related increase in the Exchange's Quoting Share revenue. The LPPs are consistent with the goal of the Revenue Allocation Formula to reward markets for quoting at the NBBO and to provide incentives to specialist firms for displaying significant liquidity at the best price. 6 *See* Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 37496 (June 29, 2005) (“Regulation NMS Adopting Release”). 7 *See* Regulation NMS Adopting Release at page 37568. Under Regulation NMS, a market's Quoting Share in a particular security is equal to:

(1)50% of the Security Income Allocation for the security, multiplied by

(2)the applicable market's Quote Rating in the security. The Security Income Allocation is the method by which the total distributable revenues are allocated among the eligible securities. Revenues are allocated based on the square root of the dollar volume of trading in each security, capped at $4 per qualified transaction report to limit disproportionate allocations for inactively traded securities. A transaction report with a dollar volume of $5,000 or more constitutes one qualified report; transaction reports with dollar volumes of less than $5,000 are calculated as proportional fractions of qualified transaction reports. The Quote Rating represents a market's percentage of all best bids and best offers equaling the NBBO price during the year (“Quote Credits”). A market earns one Quote Credit for each second of time and dollar value of size that the market's automated best bid or best offer equals the NBBO price during regular trading hours without locking or crossing a previously displayed automated quotation. To qualify for credits, the quoted price must be displayed for at least one full second, and the relevant size is the minimum size that was displayed during the second. Transactions executed manually are excluded from the Revenue Allocation Formula and, thus, the market's manual quotes will not be entitled to earn any Quote Credits. b. Transaction Fee Revenue The Exchange further proposes to create a payment pool (the “LPP Pool”) consisting of the Exchange's NYSE-listed stock transaction revenue on matched volume (excluding crossing services) in both electronic and manually executed transactions to provide LPPs to the specialist firms. The LPP Pool size has been set at 25% of the above-noted Exchange transaction revenue and this percentage may change if the Exchange adjusts its pricing and/or based on other conditions such as specialist performance, including liquidity-enhancing participation levels. 8 The size of the LPP Pool will vary month-to-month as Exchange volume changes. Each individual specialist firm will be allocated a portion of these revenues based exclusively on its trading performance in any month. Specialist firms' trading performance will be measured by the liquidity enhancing behavior that each specialist firm provides to the Exchange. In order to measure the liquidity enhancing behavior provided by the specialist firms, the Exchange will calculate each specialist firm's executed volume in four categories:

(1)Price improvement;

(2)size improvement;

(3)providing liquidity from posting bids or offers on the book; and

(4)matching better bids or offers published by other market centers to reduce client routing costs. Specialist trading activity that does not provide liquidity, for example Hit Bid/Take Offer, will not be valued in the allocation process. A specialist firm's allocation will increase if its performance as a liquidity provider improves relative to the other specialist firms. The allocation formula will weight specialist liquidity in a given security by a 0.75 exponential calculation and will then re-weight the resultant number for each security by multiplying it by the percentage representing the Exchange's regular-hours market share in that security. As with the Commission's use of a square root calculation (0.50 exponential) in connection with the Revenue Allocation Formula, the 0.75 exponential calculation will provide additional weighting to less liquid stocks, but to a lesser degree than the square root weighting. 8 The Exchange states that it would file a rule filing with the Commission pursuant to the Act and the rules thereunder in relation to any such changes prior to their implementation. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of section 6 of the Act 9 in general and furthers the objectives of section 6(b)(4) of the Act 10 in particular, in that it is designed to provide for the equitable allocation of reasonable dues, fees, and other charges among its members and other persons using its facilities. 9 15 U.S.C. 78f. 10 15 U.S.C. 78f(b)(4). B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will 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 Written comments were neither solicited nor received. II. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change is effective upon filing pursuant to section 19(b)(3)(A) of the Act 11 and Rule 19b-4(f)(2) 12 thereunder because it establishes or changes a due, fee, or other charge imposed by the Exchange. 11 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 19b-4(f)(2). At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. 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-2007-78 on the subject line. *Paper Comments* • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F. Street, NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSE-2007-78. 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 Commissions 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, 100 F. Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. 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-2007-78 and should be submitted on or before September 27, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 13 13 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-17545 Filed 9-5-07; 8:45 am] BILLING CODE 8010-01-P DEPARTMENT OF STATE [PUBLIC NOTICE 5927] Culturally Significant Objects Imported for Exhibition Determinations: “Impressionists by the Sea” SUMMARY: Notice is hereby given of the following determinations: Pursuant to the authority vested in me by the Act of October 19, 1965 (79 Stat. 985; 22 U.S.C. 2459), Executive Order 12047 of March 27, 1978, the Foreign Affairs Reform and Restructuring Act of 1998 (112 Stat. 2681, *et seq.* ; 22 U.S.C. 6501 note, *et seq.* ), Delegation of Authority No. 234 of October 1, 1999, Delegation of Authority No. 236 of October 19, 1999, as amended, and Delegation of Authority No. 257 of April 15, 2003 [68 FR 19875], I hereby determine that the objects to be included in the exhibition “Impressionists by the Sea”, imported from abroad for temporary exhibition within the United States, are of cultural significance. The objects are imported pursuant to loan agreements with the foreign owners or custodians. I also determine that the exhibition or display of the exhibit objects at the Phillips Collection, Washington, DC, from on or about October 20, 2007, until on or about January 13, 2008, and at the Wadsworth Atheneum Museum of Art, Hartford, CT, from on or about February 9, 2008, until on or about May 11, 2008, and at possible additional exhibitions or venues yet to be determined, is in the national interest. Public Notice of these Determinations is ordered to be published in the **Federal Register** . FOR FURTHER INFORMATION CONTACT: For further information, including a list of the exhibit objects, contact Richard Lahne, Attorney-Adviser, Office of the Legal Adviser, U.S. Department of State (telephone: 202/453-8058). The address is U.S. Department of State, SA-44, 301 4th Street, SW., Room 700, Washington, DC 20547-0001. Dated: August 28, 2007. C. Miller Crouch, Principal Deputy Assistant Secretary for Educational and Cultural Affairs, Department of State. [FR Doc. E7-17612 Filed 9-5-07; 8:45 am] BILLING CODE 4710-05-P DEPARTMENT OF STATE [PUBLIC NOTICE 5926] Culturally Significant Objects Imported for Exhibition Determinations: “Lessons From Bernard Rudofsky” SUMMARY: Notice is hereby given of the following determinations: Pursuant to the authority vested in me by the Act of October 19, 1965 (79 Stat. 985; 22 U.S.C. 2459), Executive Order 12047 of March 27, 1978, the Foreign Affairs Reform and Restructuring Act of 1998 (112 Stat. 2681, *et seq.* ; 22 U.S.C. 6501 note, *et seq.* ), Delegation of Authority No. 234 of October 1, 1999, Delegation of Authority No. 236 of October 19, 1999, as amended, and Delegation of Authority No. 257 of April 15, 2003 [68 FR 19875], I hereby determine that the objects to be included in the exhibition “Lessons from Bernard Rudofsky”, imported from abroad for temporary exhibition within the United States, are of cultural significance. The objects are imported pursuant to loan agreements with the foreign owners or custodians. I also determine that the exhibition or display of the exhibit objects at the Getty Research Institute, Los Angeles, CA, from on or about March 11, 2008, until on or about June 8, 2008, and at possible additional exhibitions or venues yet to be determined, is in the national interest. Public Notice of these Determinations is ordered to be published in the **Federal Register** . FOR FURTHER INFORMATION CONTACT: For further information, including a list of the exhibit objects, contact Richard Lahne, Attorney-Adviser, Office of the Legal Adviser, U.S. Department of State (telephone: 202/453-8058). The address is U.S. Department of State, SA-44, 301 4th Street, SW. Room 700, Washington, DC 20547-0001. Dated: August 28, 2007. C. Miller Crouch, Principal Deputy Assistant Secretary for Educational and Cultural Affairs, Department of State. [FR Doc. E7-17610 Filed 9-5-07; 8:45 am] BILLING CODE 4710-05-P DEPARTMENT OF STATE [Public Notice 5904] U.S. National Commission for UNESCO Notice of Teleconference Meeting The U.S. National Commission for UNESCO will hold a conference call on Wednesday, September 12, 2007, beginning at 11 a.m. Eastern Time. The introductory part of the open portion of the call should last approximately five minutes and will be an opportunity to provide an update on recent and upcoming Commission and UNESCO activities. The Commission will accept brief oral comments from members of the public during the open portion of this conference call. The public comment period will be limited to approximately ten minutes in total, with about three minutes allowed per speaker. Members of the public who wish to present oral comments or listen to the conference call must make arrangements with the Executive Secretariat of the National Commission by September 7, 2007. The second portion of the teleconference meeting will be closed to the public to allow the Commission to discuss applications for the UNESCO L'OREAL Co-Sponsored Fellowships for Young Women in the Life Sciences. This portion of the call will be closed to the public pursuant to Section 10(d) of the Federal Advisory Committee Act and 5 U.S.C. 552b[c][6] because it is likely to involve discussion of information of a personal nature regarding the relative merits of individual applicants where disclosure would constitute a clearly unwarranted invasion of personal privacy. For more information or to arrange to participate in the open portion of the teleconference meeting, contact Susanna Connaughton, Executive Director of the U.S. National Commission for UNESCO, Washington, DC 20037. Telephone:

(202)663-0026; Fax:

(202)663-0035; E-mail: *DCUNESCO@state.gov* . Dated: August 29, 2007. Susanna Connaughton, Executive Director, U.S. National Commission for UNESCO Department of State. [FR Doc. E7-17609 Filed 9-5-07; 8:45 am] BILLING CODE 4710-19-P Department of Transportation Office of the Secretary Aviation Proceedings; Agreements Filed the Week Ending June 29, 2007 Aviation Proceedings; Agreements filed the week ending June 29, 2007. The following Agreements were filed with the Department of Transportation under the sections 412 and 414 of the Federal Aviation Act, as amended (49 U.S.C. 1383 and 1384) and procedures governing proceedings to enforce these provisions. Answers may be filed within 21 days after the filing of the application. *Docket Number:* OST-2007-28614. *Date Filed:* June 26, 2007. *Parties:* Members of the International Air Transport Association. *Subject:* Mail Vote 544—Resolution 010u. TC3 Japan, Korea-South East Asia. Special Passenger Amending Resolution between Japan and China excluding Hong Kong SAR and Macao SAR. Intended effective date: 28 July 2007. *Docket Number:* OST-2007-28615. *Date Filed:* June 26, 2007. *Parties:* Members of the International Air Transport Association. *Subject:* Mail Vote 545—Resolution 010v. TC3 Japan, Korea-South East Asia. Special Passenger Amending Resolution from Korea (Rep. of) to Chinese Taipei. Intended effective date: 6 July 2007. *Docket Number:* OST-2007-28616. *Date Filed:* June 26, 2007. *Parties:* Members of the International Air Transport Association. *Subject:* Mail Vote 546—Resolution 010w. TC3 Japan, Korea-South East Asia. Special Passenger Amending Resolution from Korea (Rep. of) to Guam, Northern Mariana Islands. Intended effective date: 6 July 2007. *Docket Number:* OST-2007-28651. *Date Filed:* June 29, 2007. *Parties:* Members of the International Air Transport Association. *Subject:* TC2 Within Europe except between points in the ECAA. Expedited Resolutions. Intended effective date: 1 November 2007. *Docket Number:* OST-2007-28652. *Date Filed:* June 29, 2007. *Parties:* Members of the International Air Transport Association. *Subject:* TC2 Within Europe. Expedited Resolution 002. Intended effective date: 31 October 2007. *Docket Number:* OST-2007-28650. *Date Filed:* June 29, 2007. *Parties:* Members of the International Air Transport Association. *Subject:* 047a Provisions for Inclusive Tours except between points in the ECAA, between Canada, USA and Europe, between Europe and South West Pacific. 090 Individual Fares for Ship Crews except between points in the ECAA, between Canada, USA and Europe, between Europe and South West Pacific. 092 Student Fares except between points in the ECAA, between Canada, USA and Europe, between Europe and South West Pacific. 200h Free and Reduced Fare Transportation for Inaugural Flights except between points in the ECAA, between Canada, USA and Europe, between Europe and South West Pacific 300 Baggage Allowance Weight System. Intended effective date: 1 July 2007. Renee V. Wright, Program Manager, Docket Operations, Federal Register Liaison. [FR Doc. E7-17597 Filed 9-5-07; 8:45 am] BILLING CODE 4910-9X-P DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits Filed Under Subpart B (formerly Subpart Q) during the Week Ending June 29, 2007. The following Applications for Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits were filed under Subpart B (formerly Subpart Q) of the Department of Transportation's Procedural Regulations (See 14 CFR 301.201 *et. seq.* ). The due date for Answers, Conforming Applications, or Motions to Modify Scope are set forth below for each application. Following the Answer period DOT may process the application by expedited procedures. Such procedures may consist of the adoption of a show-cause order, a tentative order, or in appropriate cases a final order without further proceedings. *Docket Number:* OST-2007-28603. *Date Filed:* June 25, 2007. *Due Date for Answers, Conforming Applications, or Motion to Modify Scope:* July 16, 2007. *Description:* Application of “Silk Way” Airlines Limited Liability Company (“Silk Way”), requesting a foreign air carrier permit to engage in charter cargo air transportation operations between the Republic of Azerbaijan and the United States. Renee V. Wright Program Manager, Docket Operations Federal Register Liaison. [FR Doc. E7-17596 Filed 9-5-07; 8:45 am] BILLING CODE 4910-9X-P DEPARTMENT OF TRANSPORTATION ITS Joint Program Office; Intelligent Transportation Systems Program Advisory Committee; Notice of Meeting AGENCY: Research and Innovative Technology Administration, U.S. Department of Transportation. ACTION: Notice. This notice announces, pursuant to Section 10(A)(2) of the Federal Advisory Committee Act

(FACA)(Public Law 72-363; 5 U.S.C. app. 2), a meeting of the Intelligent Transportation Systems

(ITS)Program Advisory Committee (ITSPAC). The meeting will be held on September 25, 2007, from 1 p.m. to 4 p.m. The meeting will take place at the U.S. Department of Transportation (U.S. DOT), 1200 New Jersey Avenue, SE., Washington DC, in Conference Room #7 on the lobby level of the West Building. The ITSPAC, established under Section 5305 of Public Law 109-59, Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users, August 10, 2005, and chartered on February 24, 2006, was created to advise the Secretary of Transportation on all matters relating to the study, development and implementation of intelligent transportation systems. Through its sponsor, the ITS Joint Program Office, the ITSPAC will make recommendations to the Secretary regarding the ITS program needs, objectives, plans, approaches, contents, and progress. The following is a summary of the meeting's agenda:

(1)Introductions and Opening Remarks;

(2)Ethics Briefing;

(3)Federal Advisory Committee Act (FACA), October 6, 1972;

(4)ITS PAC Charter;

(5)U.S. DOT, Research and Innovative Technology Administration and ITS Joint Program Office Organization and Functions;

(6)ITS Management Council and ITS Strategic Planning Group Organization and Functions;

(7)ITS Program Major Initiatives and Funding;

(8)General Discussion;

(9)Next Steps;

(10)Public Comments; and

(11)Closing Remarks. Since access to the U.S. DOT building is controlled, all persons who plan to attend the meeting must notify Ms. Marcia Pincus, the Committee Management Officer, at

(202)366-9230 prior to September 24, 2007. Individuals attending the meeting must report to the 1200 New Jersey Avenue entrance of the U.S. DOT Building for admission. Attendance is open to the public, but limited space is available. With the approval of Ms. Shelley Row, the Committee Designated Federal Official, members of the public may present oral statements at the meeting. Non-committee members wishing to present oral statements or obtain information should contact Ms. Pincus. Questions about the agenda or written comments may be submitted by U.S. Mail to: U.S. Department of Transportation, Research and Innovative Technology Administration, ITS Joint Program Office, Attention: Marcia Pincus, Room E33-401, 1200 New Jersey Avenue, SE., Washington DC 20590 or faxed to

(202)493-2027. The ITS Joint Program Office requests that written comments be submitted prior to the meeting. Persons with a disability requiring special services, such as an interpreter for the hearing impaired, should contact Ms. Pincus at least seven calendar days prior to the meeting. Notice of this meeting is provided in accordance with the FACA and the General Service Administration regulations (41 CFR Part 102-3) covering management of Federal advisory committees. Issued in Washington, DC, on the 30th day of August, 2007. Shelley Row, Director, ITS Joint Program Office. [FR Doc. E7-17591 Filed 9-5-07; 8:45 am] BILLING CODE 4910-HY-P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Notice of Intent To Rule on Request To Release Airport Property at Oceano Airport, Oceano, CA AGENCY: Federal Aviation Administration (FAA), DOT. ACTION: Notice of request to release airport property. SUMMARY: The Federal Aviation Administration

(FAA)proposes to rule and invites public comment on the release of 2.43 acres of land at the Oceano Airport, Oceano, California, from all the conditions in the grant agreements under the provisions of Section 125 of the Wendell H. Ford Aviation Investment Reform Act for the 21st Century (AIR 21), now 49 U.S.C. 47107(h)(2). The land will be sold to the San Luis Obispo County Sanitation District and used for commercial purposes by the District for purposes compatible with the airport. DATES: Comments must be received on or before October 9, 2007. ADDRESSES: Comments on this application may be mailed or delivered in triplicate to the FAA at the following address: Federal Aviation Administration, San Francisco Airports District Office, Federal Register Comment, 831 Mitten Road, Room 210, Burlingame, CA 94010. In addition, one copy of any comments submitted to the FAA must be mailed or delivered to Ms. Klassje Narine, Airport Manager, County of San Luis Obispo, 1087 Santa Rosa Street, San Luis Obispo, CA 93401,

(805)781-5205. FOR FURTHER INFORMATION CONTACT: Mr. Racior Cavole, Airports Compliance Specialist, San Francisco Airports District Office, Western-Pacific Region, Federal Aviation Administration, 831 Mitten Road, Burlingame, California 94010. Telephone

(650)876-2778, extension 627. SUPPLEMENTARY INFORMATION: In accordance with the Wendell H. Ford Aviation Investment and Reform Act for the 21st Century (AIR 21), Public Law 10-181 (Apr. 5, 2000; 114 Stat. 61), this notice must be published in the **Federal Register** 30 days before the Secretary may waive any condition in grant agreements imposed on a federally obligated airport. The FAA invites public comment on the request to release 2.43 acres of airport property from all federal obligations. The FAA determined that the County of San Luis Obispo request to release property meets the procedural requirements for a release, pending approval of an environmental analysis. The FAA may approve the request in whole or in part and is seeking public comments on the impacts to civil aviation concerning this release. The following is a brief overview of the request: The County of San Luis Obispo requested a release from surplus property agreement obligations for approximately 2.43 acres of airport land at the Oceano Airport for land obligated by the conditions in grant agreements with the United States that required the land be used for airport purposes. The release is to facilitate a transfer of fee ownership of one parcel and a grant of an easement over another parcel that are part of Oceano Airport. This request is the result of Eminent Domain proceedings brought by the South San Luis Obispo County Sanitation District through the Superior Court of the State of California to acquire the land by condemnation. The Stipulation for Judgment requires that the County of San Luis Obispo apply to the FAA for a proper release of the subject parcels. As compensation, the District will pay the agreed upon settlement of $282,875 representing the fair market value of the property. The property release consists of two parcels. Parcel “A,” containing 1.76 acres, will be conveyed in fee simple. Parcel “B,” containing 0.67 acres, will be granted as a non-exclusive easement of airport property over which the District will have access to Parcel “A.” The property is needed by the South San Luis Obispo County Sanitation District for the operation of its plant and bio-solids drying ponds and to ensure access to its existing property adjacent to the airport. It has been determined that the property is not needed for airport purposes. Use of the sale proceeds of $282,875 will be invested in airport capital improvements, thereby serving the interest of the airport and civil aviation. Issued in Burlingame, California on August 16, 2007. Edward N. Agnew, Acting Manager, San Francisco District Office, Western-Pacific Region. [FR Doc. 07-4325 Filed 9-5-07; 8:45 am]

Notices. Notice; request for comments