Notices. Notice of Federal Advisory Committee meeting

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BILLING CODE 9111-14-M DEPARTMENT OF HOMELAND SECURITY U.S. Customs and Border Protection [Docket No. USCBP-2008-0002] Notice of the Meeting of the U.S. Customs and Border Protection Airport and Seaport Inspections User Fee Advisory Committee AGENCY: U.S. Customs and Border Protection, Department of Homeland Security (DHS). ACTION: Notice of Federal Advisory Committee meeting. SUMMARY: The U.S. Customs and Border Protection (“CBP”) Airport and Seaport Inspections User Fee Advisory Committee (“Advisory Committee”) will meet in open session.

The meeting will be open to the public. DATES: Wednesday, March 5, 2008, 12 p.m. to 4 p.m. Please note that the meeting may close early if all business is finished. ADDRESSES: The meeting will be held at Conference Room B 1.5-25, Ronald Reagan Building, 1300 Pennsylvania Avenue, NW., Washington, DC. Written material, comments, requests to make oral presentations, and requests to have a copy of your material distributed to each member of the committee prior to the meeting should reach the contact person at the address below by Wednesday, February 27, 2008.

Comments must be identified by USCBP-2008-0002 and may be submitted by one of the following methods: • *Federal eRulemaking Portal:* *http://www.regulations.gov.* Follow the instructions for submitting comments. • *E-mail:* *CBP.Userfeeadvisorycommittee@dhs.gov.* Include the docket number in the subject line of the message. • *Facsimile:*

(202)344-1818. • *Mail:* Ms. Lauren I. Pearce, Office of Finance, U.S. Customs and Border Protection, Department of Homeland Security, 1300 Pennsylvania Avenue, NW., Suite 4.5A, Washington, DC 20229. *Instructions:* All submissions received must include the words “Department of Homeland Security” and the docket number for this action. Comments received will be posted without alteration at *http://www.regulations.gov* , including any personal information provided. *Docket:* For access to the docket to read background documents or comments received by the Advisory Committee go to *http://www.regulations.gov.* FOR FURTHER INFORMATION CONTACT: Ms. Lauren I. Pearce, Office of Finance, U.S. Customs and Border Protection, Department of Homeland Security, 1300 Pennsylvania Avenue, NW., Suite 4.5A, Washington, DC 20229; *telephone number:* 202-344-3393; *facsimile:* 202-344-1818; *e-mail:* *CBP.Userfeeadvisorycommittee@dhs.gov.* SUPPLEMENTARY INFORMATION: Pursuant to the Federal Advisory Committee Act (5 U.S.C., app.), DHS hereby announces the meeting of the U.S. Customs and Border Protection Airport and Seaport Inspections User Fee Advisory Committee (hereinafter, “Advisory Committee”). This Advisory Committee was established pursuant to section 286(k) of the Immigration and Nationality Act (INA), codified at title 8 U.S.C. 1356(k), which references the Federal Advisory Committee Act (5 U.S.C., app.). With the merger of the Immigration and Naturalization Service into the Department of Homeland Security, the Advisory Committee's responsibilities were transferred from the Attorney General to the Commissioner of CBP pursuant to section 1512(d) of the Homeland Security Act of 2002. The Advisory Committee held its first meeting under the direction of CBP on October 22, 2003 (see 68 FR 56301, September 30, 2003). Among other things, this Advisory Committee advises the Department of Homeland Security via the Commissioner of CBP on issues related to the performance of airport and seaport inspections involving agriculture, customs, or immigration based concerns. This advice includes, but is not limited to, issues such as the time period during which such services should be performed and the proper number and deployment of inspection officers. Additionally, this advice includes the level and the appropriateness of the following fees assessed for CBP services: The immigration user fee pursuant to 8 U.S.C. 1356(d), the customs inspection user fee pursuant to 19 U.S.C. 58c(a)(5), and the agriculture inspection user fee pursuant to 21 U.S.C. 136a. The sixth meeting of the Advisory Committee will be held at the date, time and location specified above. A tentative agenda for the meeting is set forth below. This meeting is open to the public. Public participation in the deliberations is welcome; however, please note that matters outside of the scope of this committee will not be discussed. Please note that the meeting may close early if all business is finished. All visitors to the Ronald Reagan Building will have to show a picture ID in order to be admitted into the building. Since seating is limited, all persons attending this event must provide notice, preferably by close of business Wednesday, February 27, 2008, to Ms. Lauren I. Pearce, Office of Finance, U.S. Customs and Border Protection, Department of Homeland Security, 1300 Pennsylvania Avenue, NW., Suite 4.5A, Washington, DC 20229; *telephone number:* 202-344-3393; *facsimile:* 202-344-1818; *e-mail:* *CBP.Userfeeadvisorycommittee@dhs.gov.* For information on facilities or services for individuals with disabilities or to request special assistance at the meeting, contact Ms. Lauren I. Pearce as soon as possible. Tentative Agenda 1. Introduction of Committee members and CBP Personnel. 2. Report of activities since last meeting of June 6, 2007. 3. Discussion of the Electronic Travel Authorization and Model Airports Legislation. 4. Discussion of United States Passenger Accelerated Services System (US PASS). 5. Discussion of the Workload Staffing Model. 6. Overview and discussion of CBP's budget. 7. Discussion of Reimbursable Overtime. 8. Discussion of specific concerns and questions of Committee members. 9. Agree on consensus recommendations on the issues discussed. 10. Discussion of Committee administrative issues and scheduling of next meeting. 11. Adjourn. Dated: February 11, 2008. Elaine Killoran, Acting Assistant Commissioner, Office of Finance, U.S. Customs and Border Protection. [FR Doc. E8-2769 Filed 2-13-08; 8:45 am] BILLING CODE 9111-14-P DEPARTMENT OF THE INTERIOR Bureau of Land Management [WY-920-1320-EL, WYW154432] Notice of Competitive Coal Lease Sale, Wyoming AGENCY: Bureau of Land Management, Interior. ACTION: Notice of Competitive Coal Lease Sale. SUMMARY: Notice is hereby given that certain coal resources in the North Maysdorf Coal Tract described below in Campbell County, Wyoming, will be reoffered for competitive lease by sealed bid in accordance with the provisions of the Mineral Leasing Act of 1920, as amended (30 U.S.C. 181 *et seq.* ). DATES: The lease sale reoffer will be held at 10 a.m., on Wednesday, March 19, 2008. Sealed bids must be submitted on or before 4 p.m., on Tuesday, March 18, 2008. ADDRESSES: The lease sale reoffer will be held in the First Floor Conference Room (Room 107), of the Bureau of Land Management

(BLM)Wyoming State Office, 5353 Yellowstone Road, P.O. Box 1828, Cheyenne, WY 82003. Sealed bids must be submitted to the Cashier, BLM Wyoming State Office, at the address given above. FOR FURTHER INFORMATION CONTACT: Mavis Love, Land Law Examiner, or Robert Janssen, Coal Coordinator, at 307-775-6258, and 307-775-6206, respectively. SUPPLEMENTARY INFORMATION: This coal lease sale is being held in response to a lease by application

(LBA)filed by Cordero Mining Company, Gillette, Wyoming. The North Maysdorf Tract was previously offered on October 18, 2007, and the one bid received at that sale was rejected because it did not meet the BLM's estimate of fair market value. The coal resource to be offered consists of all reserves recoverable by surface mining methods in the following-described lands located in central Campbell County, approximately 2 miles east of State Highway 59, 4 miles south of Bishop Road, and is adjacent to the southern lease boundary of the Belle Ayr Mine and the northwest lease boundary of the Cordero Rojo Mine: T. 47 N., R. 71 W., 6th P.M., Wyoming *Section 7:* Lots 5, 12, 13, 20; *Section 8:* Lots 3 through 6, 11 through 13. Containing 445.89 acres more or less. The tract is adjacent to Federal coal leases to the north and east held by the Belle Ayr and Cordero Rojo Mines, respectively. It is adjacent to additional unleased Federal coal to the west and south. It is also adjacent to about 40 acres of private coal controlled by the Cordero Rojo Mine. All of the acreage offered has been determined to be suitable for mining. Features such as pipelines can be moved to permit coal recovery. In addition, oil and/or gas wells have been drilled on the tract. The estimate of the bonus value of the coal lease will include consideration of any future production from these wells. An economic analysis of this future income stream will determine whether a well is bought out and plugged prior to mining or re-established after mining is completed. The surface estate of the tract is owned by Cordero Mining Company, Caballo Rojo, Inc. and Foundation Wyoming Land Company. The tract contains surface mineable coal reserves in the Wyodak seam currently being recovered in the adjacent, existing mine. On the LBA tract, the Wyodak seam is generally a single seam averaging approximately 70 feet thick. The overburden depths range from 170-360 feet thick on the LBA. The tract contains an estimated 54,657,000 tons of mineable coal. This estimate of mineable reserves includes the main Wyodak seam but does not include any tonnage from localized seams or splits containing less than 5 feet of coal. It does not include the adjacent private coal although these reserves are expected to be recovered in conjunction with the LBA. The total mineable stripping ratio (BCY/Ton) of the coal is about 3.7:1. Potential bidders for the LBA should consider the recovery rate expected from thick seam mining. The North Maysdorf LBA coal is ranked as subbituminous C. The overall average quality on an as-received basis is 8586 BTU/lb with about 0.27% sulfur. These quality averages place the coal reserves near the middle of the range of coal quality currently being mined in the Wyoming portion of the Powder River Basin. The tract will be leased to the qualified bidder of the highest cash amount provided that the high bid meets or exceeds the BLM's estimate of the fair market value of the tract. The minimum bid for the tract is $100 per acre or fraction thereof. No bid that is less than $100 per acre, or fraction thereof, will be considered. The bids should be sent by certified mail, return receipt requested, or be hand delivered. The Cashier will issue a receipt for each hand-delivered bid. Bids received after 4 p.m., on Tuesday, March 18, 2008, will not be considered. The minimum bid is not intended to represent fair market value. The fair market value of the tract will be determined by the Authorized Officer after the sale. The lease issued as a result of this offering will provide for payment of an annual rental of $3.00 per acre, or fraction thereof, and a royalty payment to the United States of 12.5 percent of the value of coal produced by strip or auger mining methods and 8 percent of the value of the coal produced by underground mining methods. The value of the coal will be determined in accordance with 30 CFR 206.250. Bidding instructions for the tract offered and the terms and conditions of the proposed coal lease are available from the BLM Wyoming State Office at the addresses above. Case file documents, WYW154432, are available for inspection at the BLM Wyoming State Office. Dated: January 29, 2008. Larry Claypool, Acting Deputy State Director, Minerals and Lands. [FR Doc. E8-2043 Filed 2-13-08; 8:45 am] BILLING CODE 4310-22-P DEPARTMENT OF THE INTERIOR Bureau of Land Management [CA-110] Meeting of the Central California Resource Advisory Council ACTION: Notice of public tour. SUMMARY: In accordance with the Federal Land Policy and Management Act (FLPMA) and the Federal Advisory Committee Act of 1972 (FACA), the U.S. Department of the Interior, Bureau of Land Management

(BLM)Central California Resource Advisory Council

(RAC)will hold a public tour as indicated below. DATES: The public tour will be held Saturday, March 15, 2008, at the Clear Creek Management Area, which comprises 63,000 acres of BLM public lands in southern San Benito and western Fresno counties, California. Members of the public are welcome to attend the tour, but must provide their own transportation and lunch. Those who wish to attend the tour should meet at the Oak Flat Campground, located on Clear Creek Road off Coalinga-Los Gatos Road, at 10 a.m. The tour should conclude at about 4 p.m. The event may be postponed to a later date if there is inclement weather. To confirm the tour will take place as planned, call the BLM Hollister Field Office at

(831)630-5000. FOR FURTHER INFORMATION CONTACT: BLM Hollister Field Office Manager Rick Cooper,

(831)630-5010; or BLM Central California Public Affairs Officer David Christy,

(916)985-4474. SUPPLEMENTARY INFORMATION: The twelve-member Central California RAC advises the Secretary of the Interior, through the BLM, on a variety of public land issues associated with public land management in the Central California. This tour will focus on issues for the Clear Creek Management Area. Individuals who plan to attend and need special assistance such as sign language interpretation or other reasonable accommodations should contact the BLM as indicated above. Dated: February 7, 2008. David Christy, Public Affairs Officer. [FR Doc. E8-2791 Filed 2-13-08; 8:45 am] BILLING CODE 1820-XX-P DEPARTMENT OF THE INTERIOR Bureau of Land Management [MT-922-08-1310-FI-P; SDM 96171] Notice of Proposed Reinstatement of Terminated Oil and Gas Lease; SDM 96171 AGENCY: Bureau of Land Management, Interior. ACTION: Notice. SUMMARY: Per 30 U.S.C. 188(d), BTA Oil Producers, LLC timely filed a petition for reinstatement of oil and gas lease SDM 96171, Harding County, South Dakota. The lessee paid the required rental accruing from the date of termination. No leases were issued that affect these lands. The lessee agrees to new lease terms for rentals and royalties of $10 per acre and 16 2/3 percent or 4 percentages above the existing competitive royalty rate. The lessee paid the $500 administration fee for the reinstatement of the lease and $163 cost for publishing this Notice. The lessee met the requirements for reinstatement of the lease per Sec. 31(d) and

(e)of the Mineral Leasing Act of 1920 (30 U.S.C. 188). We are proposing to reinstate the lease, effective the date of termination subject to: • The original terms and conditions of the lease; • The increased rental of $10 per acre; • The increased royalty of 16 2/3 percent or 4 percentages above the existing competitive royalty rate; and • The $163 cost of publishing this Notice. FOR FURTHER INFORMATION CONTACT: Karen L. Johnson, Chief, Fluids Adjudication Section, BLM Montana State Office, 5001 Southgate Drive, Billings, Montana 59101-4669, 406-896-5098. Dated: February 7, 2008. Karen L. Johnson, Chief, Fluids Adjudication Section. [FR Doc. E8-2802 Filed 2-13-08; 8:45 am] BILLING CODE 4310-$$-P INTERNATIONAL TRADE COMMISSION [Investigation No. 337-TA-589] In the Matter of: Certain Switches and Products Containing Same; Notice of Commission Determination of No Violation of Section 337; Termination of the Investigation AGENCY: U.S. International Trade Commission. ACTION: Notice. SUMMARY: Notice is hereby given that the U.S. International Trade Commission has determined that there is no violation of 19 U.S.C. 1337 by respondents Belkin International, Inc., Belkin, Inc., and Emine Technology Co., Ltd. in the above-referenced investigation. FOR FURTHER INFORMATION CONTACT: Michelle Walters, Office of the General Counsel, U.S. International Trade Commission, 500 E Street, SW., Washington, DC 20436, telephone

(202)708-5468. Copies of non-confidential documents filed in connection with this investigation are or will be available for inspection during official business hours (8:45 a.m. to 5:15 p.m.) in the Office of the Secretary, U.S. International Trade Commission, 500 E Street, SW., Washington, DC 20436, telephone

(202)205-2000. General information concerning the Commission may also be obtained by accessing its Internet server at *http://www.usitc.gov* . The public record for this investigation may be viewed on the Commission's electronic docket

(EDIS)at *http://edis.usitc.gov* . Hearing-impaired persons are advised that information on this matter can be obtained by contacting the Commission's TDD terminal on

(202)205-1810. SUPPLEMENTARY INFORMATION: This investigation was instituted on December 7, 2006, based on a complaint filed by ATEN International Co., Ltd. of Taipei, Taiwan, and ATEN Technology, Inc. of Irvine, California (collectively, “ATEN”). The complaint alleged violations of section 337 of the Tariff Act of 1930 (19 U.S.C. 1337) in the importation into the United States, the sale for importation, and the sale within the United States after importation of certain switches and products containing the same by reason of infringement of various claims of United States Patent No. 7,035,112. The complaint named six respondents: Belkin International, Inc., Belkin, Inc. (collectively, “Belkin”), Emine Technology Co., Ltd. (“Emine”), RATOC Systems, Inc., RATOC Systems International, Inc. (collectively, “RATOC”), and JustCom Tech, Inc. (“JustCom”). The Commission has terminated the investigation with respect to RATOC and JustCom based on settlement agreements, including a consent order. On November 7, 2007, the ALJ issued his final initial determination (“ID”), and on November 21, 2007, he issued his recommended determination on remedy and bonding. In his ID, the ALJ found that Belkin's and Emine's accused products do not infringe asserted claims 1 and 12-21. In addition, the ALJ found that the claims are not invalid for anticipation or obviousness. The ALJ also found that the claims are not invalid for lack of written description support and that the patent is not unenforceable for inequitable conduct. Further, the ALJ found that there was no domestic industry based on the asserted patent. ATEN, Belkin, Emine, and the Commission investigative attorney each filed petitions for review of the ALJ's ID and responses to the petitions. The Commission determined to review a portion of the ALJ's ID and requested briefing from the parties on the issues under review and on remedy, the public interest, and bonding. Having examined the record of this investigation, including the ALJ's final ID, the written submissions on review, and the responses thereto, the Commission has determined

(1)to modify the ALJ's claim construction of the term “body;”

(2)to adopt the ALJ's claim construction of the terms “fixedly attached” and “integrated into;”

(3)to determine that Belkin's and Emine's products do not infringe the asserted claims under the adopted claim construction; and

(4)to determine that, alternatively, if a broad claim construction were adopted for the term “body,” the claims would be invalid for anticipation or obviousness in light of the asserted prior art. The authority for the Commission's determination is contained in section 337 of the Tariff Act of 1930, as amended (19 U.S.C. 1337), and in section 210.45 of the Commission's Rules of Practice and Procedure (19 CFR 210.45). Issued: February 8, 2008. By order of the Commission. Marilyn R. Abbott, Secretary to the Commission. [FR Doc. E8-2716 Filed 2-13-08; 8:45 am] BILLING CODE 7020-02-P DEPARTMENT OF LABOR Employment and Training Administration [TA-W-61,553 TA-W-61,553A; TA-W-61,553B; TA-W-61,553C; TA-W-61,553D] Honeywell Resins & Chemicals, Resins & Chemicals Division, Including On-Site Leased Workers From Defender Services, Inc., and Manpower Anderson, SC; Including Employees of Honeywell Resins & Chemicals, Resins & Chemicals Division, Anderson, SC, Working in the Following Locations: Waxhaw, NC; Cortlandt Manor, NY; Mooresville, NC; Greensboro, NC; Amended Certification Regarding Eligibility To Apply for Worker Adjustment Assistance and Alternative Trade Adjustment Assistance In accordance with section 223 of the Trade Act of 1974 (19 U.S.C. 2273), and section 246 of the Trade Act of 1974 (26 U.S.C. 2813), as amended, the Department of Labor issued a Certification of Eligibility to Apply for Worker Adjustment Assistance and Alternative Trade Adjustment Assistance on July 11, 2007, applicable to workers of Honeywell Resins & Chemicals, Resins & Chemicals Division, including on-site leased workers from Defender Services, Inc., and Manpower, Anderson, South Carolina. The notice was published in the **Federal Register** on July 26, 2007 (72 FR 41088). At the request of the State agency, the Department reviewed the certification for workers of the subject firm. The workers produced nylon fibers for textile applications. New information shows that worker separations have occurred involving employees of the Anderson, South Carolina facility of Honeywell Resins & Chemicals, Resins & Chemicals Division working in the following locations: Waxhaw, North Carolina (Mr. Patrick Williams), Cortlandt Manor, New York (Mr. Walter Pinsdorf), Mooresville, North Carolina (Mr. C. Wright Sizemore), and Greensboro, North Carolina (Mr. Richard Wald). Based on these findings, the Department is amending this certification to include employees of the Anderson, South Carolina facility of Honeywell Resins & Chemicals, Resins & Chemicals Division, located in the above mentioned locations. The intent of the Department's certification is to include all workers of Honeywell Resins & Chemicals, Resins & Chemicals Division, Anderson, South Carolina, who are adversely affected secondary workers. The amended notice applicable to TA-W-61,553 is hereby issued as follows: All workers of Honeywell Resins & Chemicals, Resin and Chemicals Division, Anderson, South Carolina, including on-site leased workers of Defender Services, Inc., and ManPower (TA-W-61,553), and including employees of Honeywell Resins & Chemicals, Resin and Chemicals Division, Anderson, South Carolina located in Waxhaw, North Carolina (TA-W-61,553A), Cortlandt Manor, New York (TA-W-61,553B), Mooresville, North Carolina (TA-W-61,553C), and Greensboro, North Carolina (TA-W-61,553D), who became totally or partially separated from employment on or after May 21, 2006, through July 11, 2009, are eligible to apply for adjustment assistance under section 223 of the Trade Act of 1974, and are also eligible to apply for alternative trade adjustment assistance under section 246 of the Trade Act of 1974. Signed at Washington, DC, this 6th day of February 2008. Linda G. Poole, Certifying Officer, Division of Trade Adjustment Assistance. [FR Doc. E8-2735 Filed 2-13-08; 8:45 am] BILLING CODE 4510-FN-P DEPARTMENT OF LABOR Occupational Safety and Health Administration [Docket No. OSHA-2008-0007] Subpart R (“Steel Erection”); Extension of the Office of Management and Budget's

(OMB)Approval of Information Collection (Paperwork) Requirements AGENCY: Occupational Safety and Health Administration (OSHA), Labor. ACTION: Request for public comment. SUMMARY: OSHA solicits public comment concerning its proposal to extend OMB approval of the information collection requirements specified in 29 CFR part 1926, subpart R (“Steel Erection”). DATES: Comments must be submitted (postmarked, sent, or received) by April 14, 2008. ADDRESSES: *Electronically:* You may submit comments and attachments electronically at *http://www.regulations.gov,* which is the Federal eRulemaking Portal. Follow the instructions online for submitting comments. *Facsimile:* If your comments, including attachments, are not longer than 10 pages, you may fax them to the OSHA Docket Office at

(202)693-1648. *Mail, hand delivery, express mail, messenger, or courier service:* When using this method, you must submit three copies of your comments and attachments to the OSHA Docket Office, OSHA Docket No. OSHA-2008-0007, U.S. Department of Labor, Occupational Safety and Health Administration, Room N-2625, 200 Constitution Avenue, NW., Washington, DC 20210. Deliveries (hand, express mail, messenger, and courier service) are accepted during the Department of Labor's and Docket Office's normal business hours, 8:15 a.m. to 4:45 p.m., e.t. *Instructions:* All submissions must include the Agency name and OSHA docket number for the ICR (OSHA-2008-0007). All comments, including any personal information you provide, are placed in the public docket without change, and may be made available online at *http://www.regulations.gov.* For further information on submitting comments see the “Public Participation” heading in the section of this notice titled “Supplementary Information.” *Docket:* To read or download comments or other material in the docket, go to *http://www.regulations.gov* or the OSHA Docket Office at the address above. All documents in the docket (including this **Federal Register** notice) are listed in the *http://www.regulations.gov* index; however, some information (e.g., copyrighted material) is not publicly available to read or download through the website. All submissions, including copyrighted material, are available for inspection and copying at the OSHA Docket Office. You may also contact Michael Buchet at the address below to obtain a copy of the ICR. FOR FURTHER INFORMATION CONTACT: Michael Buchet, Directorate of Construction, OSHA, U.S. Department of Labor, Room N-3468, 200 Constitution Avenue, NW., Washington, DC 20210; telephone

(202)693-2020. SUPPLEMENTARY INFORMATION: I. Background The Department of Labor, as part of its continuing effort to reduce paperwork and respondent (i.e., employer) burden, conducts a preclearance consultation program to provide the public with an opportunity to comment on proposed and continuing information collection requirements in accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. 3506(c)(2)(A)). This program ensures that information is in the desired format, reporting burden (time and costs) is minimal, collection instruments are clearly understood, and OSHA's estimate of the information collection burden is accurate. The Occupational Safety and Health Act of 1970 (the OSH Act) (29 U.S.C. 651 *et seq.* ) authorizes information collection by employers as necessary or appropriate for enforcement of the Act or for developing information regarding the causes and prevention of occupational injuries, illnesses, and accidents (29 U.S.C. 657). The OSH Act also requires that OSHA obtain such information with minimum burden upon employers, especially those operating small businesses, and to reduce to the maximum extent feasible unnecessary duplication of efforts in obtaining information (29 U.S.C. 657). The following provisions of 29 CFR part 1926, subpart R (the “Subpart”) contain paperwork requirements: §§ 1926.752(a)(1) and (a)(2); 1926.753(c)(5) and (e)(2); 1926.757(a)(7), (a)(9), and (e)(4)(i); 1926.758(g); 1926.760(e) and (e)(1); 1926.761; and paragraph (c)(4)(ii) of appendix G. These provisions ensure that: Designated parties, especially steel erectors, receive notice that building materials, components, steel structures, and fall protection equipment are safe for specific uses; and employees exposed to fall hazards receive the required training in the recognition and control of fall hazards. These paperwork requirements provide a direct and efficient means for controlling contractors and steel erectors to inform others (e.g., employees) of steel erection hazards and their control, thereby preventing death and serious injury by ensuring that structural steel members remain stable and that employees use fall protection correctly. II. Special Issues for Comment OSHA has a particular interest in comments on the following issues: • Whether the proposed information collection requirements are necessary for the proper performance of the Agency's functions, including whether the information is useful; • The accuracy of OSHA's estimate of the burden (time and costs) of the information collection requirements, including the validity of the methodology and assumptions used; • The quality, utility, and clarity of the information collected; and • Ways to minimize the burden on employers who must comply; for example, by using automated or other technological information collection and transmission techniques. III. Proposed Actions The Agency is requesting that OMB extend its approval of the information collection requirements contained in 29 CFR part 1926, subpart R (“Steel Erection”). The Agency is proposing to retain its existing burden hour estimate of 30,339 hours for the collection of information requirements specified by the subpart. *Type of Review:* Extension of a currently approved collection. *Title:* 29 CFR part 1926, subpart R (“Steel Erection”). *OMB Number:* 1218-0241. *Affected Public:* Business or other for-profits. *Number of Respondents:* 20,781. *Frequency:* On occasion. *Average Time Per Response:* Varies from one minute (.02 hour) for a controlling contractor to inform a steel erector to leave fall protection at the jobsite to three hours for controlling contractors to obtain approval from the project structural engineer of record before modifying anchor bolts. *Estimated Total Burden Hours:* 30,339. *Estimated Cost (Operation and Maintenance):* $0. IV. Public Participation—Submission of Comments on This Notice and Internet Access to Comments and Submissions You may submit comments in response to this document as follows:

(1)Electronically at *http://www.regulations.gov,* which is the Federal eRulemaking Portal;

(2)by facsimile (FAX); or

(3)by hard copy. All comments, attachments, and other material must identify the Agency name and the OSHA docket number for the ICR (Docket No. OSHA-2008-0007). You may supplement electronic submissions by uploading document files electronically. If you wish to mail additional materials in reference to an electronic or facsimile submission, you must submit them to the OSHA Docket Office (see the section of this notice titled ADDRESSES ). The additional materials must clearly identify your electronic comments by your name, date, and the docket number so the Agency can attach them to your comments. Because of security procedures, the use of regular mail may cause a significant delay in the receipt of comments. For information about security procedures concerning the delivery of materials by hand, express delivery, messenger, or courier service, please contact the OSHA Docket Office at

(202)693-2350 (TTY

(OMB)Approval of Information Collection (Paperwork) Requirements AGENCY: Occupational Safety and Health Administration (OSHA), Labor. ACTION: Request for public comment. SUMMARY: OSHA solicits public comment concerning its proposal to extend OMB approval of the information collection requirements specified in its subparts entitled Subpart A (“General Provisions”) and Subpart B (“Confined and Enclosed Spaces and Other Dangerous Atmospheres in Shipyard Employment”) (29 CFR part 1915). DATES: Comments must be submitted (postmarked, sent, or received) by April 14, 2008. ADDRESSES: *Electronically:* You may submit comments and attachments electronically at *http://www.regulations.gov,* which is the Federal eRulemaking Portal. Follow the instructions online for submitting comments. *Facsimile:* If your comments, including attachments, are not longer than 10 pages, you may fax them to the OSHA Docket Office at

(202)693-1648. *Mail, hand delivery, express mail, messenger, or courier service:* When using this method, you must submit three copies of your comments and attachments to the OSHA Docket Office, OSHA Docket No. OSHA-2008-0006, U.S. Department of Labor, Occupational Safety and Health Administration, Room N-2625, 200 Constitution Avenue, NW., Washington, DC 20210. Deliveries (hand, express mail, messenger, and courier service) are accepted during the Department of Labor's and Docket Office's normal business hours, 8:15 a.m. to 4:45 p.m., e.t. *Instructions:* All submissions must include the Agency name and OSHA docket number for the ICR (OSHA-2008-0006). All comments, including any personal information you provide, are placed in the public docket without change, and may be made available online at *http://www.regulations.gov.* For further information on submitting comments see the “Public Participation” heading in the section of this notice titled “Supplementary Information.” *Docket:* To read or download comments or other material in the docket, go to *http://www.regulations.gov* or the OSHA Docket Office at the address above. All documents in the docket (including this **Federal Register** notice) are listed in the *http://www.regulations.gov* index; however, some information (e.g., copyrighted material) is not publicly available to read or download through the Web site. All submissions, including copyrighted material, are available for inspection and copying at the OSHA Docket Office. You may also contact Theda Kenney at the address below to obtain a copy of the ICR. FOR FURTHER INFORMATION CONTACT: Theda Kenney or Todd Owen, Directorate of Standards and Guidance, OSHA, U.S. Department of Labor, Room N-3609, 200 Constitution Avenue, NW., Washington, DC 20210; telephone

(202)693-2222. SUPPLEMENTARY INFORMATION: I. Background The Department of Labor, as part of its continuing effort to reduce paperwork and respondent (i.e., employer) burden, conducts a preclearance consultation program to provide the public with an opportunity to comment on proposed and continuing information collection requirements in accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. 3506(c)(2)(A)). This program ensures that information is in the desired format, reporting burden (time and costs) is minimal, collection instruments are clearly understood, and OSHA's estimate of the information collection burden is accurate. The Occupational Safety and Health Act of 1970 (the OSH Act) (29 U.S.C. 651 et seq.) authorizes information collection by employers as necessary or appropriate for enforcement of the Act or for developing information regarding the causes and prevention of occupational injuries, illnesses, and accidents (29 U.S.C. 657). The OSH Act also requires that OSHA obtain such information with minimum burden upon employers, especially those operating small businesses, and to reduce to the maximum extent feasible unnecessary duplication of effort in obtaining information (29 U.S.C. 657). One provision in subpart A contains paperwork requirements (§ 1915.7). Section 1915.7(b)(2) specifies that shipyard employers must maintain a roster of designated competent persons (for inspecting and testing spaces covered by subpart B), or a statement that a Marine Chemist will perform these inspections and tests. Section 1915.7(d) requires that employers: ensure that competent persons, Marine Chemists, and certified industrial hygienists

(CIHs)make a record of each inspection and test they conduct, post the record near the covered space while work is in progress, and file the record for a specified period. In addition, employers must make the roster or statement and the inspection and test records available to designated parties on request. Subpart B consists of several standards governing entry into confined and enclosed spaces and other dangerous atmospheres in shipyard employment. These standards require that employers: • Ensure that competent persons conduct inspections and atmospheric testing prior to employees entering a confined or enclosed space (§§ 1915.12(a)-(c)); • Warn employees not to enter hazardous spaces and other dangerous atmospheres (§ 1915.12(a)-(c), 1915.16); • Train employees who will be entering confined or enclosed spaces and certify that such training has been provided (§ 1915.12(d)); • Establish and train shipyard rescue teams or arrange for outside rescue teams and provide them with information (§ 1915.12(e)); • Ensure that one person on each rescue team has a valid first-aid training certificate (§ 1915.12(e)); • Exchange information regarding hazards, safety rules, and emergency procedures concerning these spaces and atmospheres with other employers whose employees may enter these spaces and atmospheres (§ 1915.12(f)); • Ensure testing of certain spaces before cleaning and other cold work is started and as necessary thereafter while the operations are ongoing (§ 1915.13(b)(2) and (4)); • Post signs prohibiting ignition sources within or near a space that contains bulk quantities of flammable or combustible liquids or gases (§ 1915.13(b)(10)); • Ensure that confined and enclosed spaces are tested before employees perform hot work in these spaces (§ 1915.14(a)); • Post warnings of testing conducted by competent persons and certificates of testing conducted by a Marine Chemist or Coast Guard authorized person in the immediate vicinity of the hot work operation while the operation is in progress (§ 1915.14(a) and (b)); and • Retain certificates of testing on file for at least three months after completing the operation (§ 1915.14(a)(2)). II. Special Issues for Comment OSHA has a particular interest in comments on the following issues: • Whether the proposed information collection requirements are necessary for the proper performance of the Agency's functions, including whether the information is useful; • The accuracy of OSHA's estimate of the burden (time and costs) of the information collection requirements, including the validity of the methodology and assumptions used; • The quality, utility, and clarity of the information collected; and • Ways to minimize the burden on employers who must comply; for example, by using automated or other technological information collection and transmission techniques. III. Proposed Actions The Agency is requesting that OMB extend its approval of the information collection requirements contained in Subpart A (“General Provisions”) and Subpart B (“Confined and Enclosed Spaces and Other Dangerous Atmospheres in Shipyard Employment”) (29 CFR part 1915). The Agency is proposing to decrease the existing burden hour estimate for the collection of information requirements specified by subparts A and B. In this regard, the Agency is proposing to decrease the current burden hour estimate from 348,394 hours to 312,774 hours, a total decrease of 35,620 hours. The decrease is the result of updated data indicating a decline in the number of establishments from 717 to 639. *Type of Review:* Extension of a currently approved collection. *Title:* Subpart A (“General Provisions”) and Subpart B (“Confined and Enclosed Spaces and Other Dangerous Atmospheres in Shipyard Employment”) (29 CFR part 1915). *OMB Number:* 1218-0011. *Affected Public:* Business or other for-profits. *Number of Respondents:* 639. *Frequency:* On occasion. *Average Time per Response:* Varies from 1 minute (.02 hour) for a secretary to maintain a training certification record to 10 minutes (.17 hour) for a supervisory shipyard production worker to update, maintain and post either the required roster or statement at each shipyard. *Estimated Total Burden Hours:* 312,774. *Estimated Cost (Operation and Maintenance):* $0. IV. Public Participation—Submission of Comments on This Notice and Internet Access to Comments and Submissions You may submit comments in response to this document as follows:

(1)Electronically at *http://www.regulations.gov,* which is the Federal eRulemaking Portal;

(2)by facsimile (FAX); or

(3)by hard copy. All comments, attachments, and other material must identify the Agency name and the OSHA docket number for the ICR (Docket No. OSHA-2008-0006). You may supplement electronic submissions by uploading document files electronically. If you wish to mail additional materials in reference to an electronic or facsimile submission, you must submit them to the OSHA Docket Office (see the section of this notice titled ADDRESSES ). The additional materials must clearly identify your electronic comments by your name, date, and the docket number so the Agency can attach them to your comments. Because of security procedures, the use of regular mail may cause a significant delay in the receipt of comments. For information about security procedures concerning the delivery of materials by hand, express delivery, messenger, or courier service, please contact the OSHA Docket Office at

(202)693-2350 (TTY

(877)889-5627). Comments and submissions are posted without change at *http://www.regulations.gov.* Therefore, OSHA cautions commenters about submitting personal information such as social security numbers and date of birth. Although all submissions are listed in the *http://www.regulations.gov* index, some information (e.g., copyrighted material) is not publicly available to read or download through this Web site. All submissions, including copyrighted material, are available for inspection and copying at the OSHA Docket Office. Information on using the *http://www.regulations.gov* Web site to submit comments and access the docket is available at the Web site's “User Tips” link. Contact the OSHA Docket Office for information about materials not available through the Web site, and for assistance in using the Internet to locate docket submissions. V. Authority and Signature Edwin G. Foulke, Jr., Assistant Secretary of Labor for Occupational Safety and Health, directed the preparation of this notice. The authority for this notice is the Paperwork Reduction Act of 1995 (44 U.S.C. 3506 *et seq.* ) and Secretary of Labor's Order No. 5-2007 (72 FR 31159). Signed at Washington, DC, on February 8, 2008. Edwin G. Foulke, Jr., Assistant Secretary of Labor for Occupational Safety and Health. [FR Doc. E8-2672 Filed 2-13-08; 8:45 am] BILLING CODE 4510-26-P DEPARTMENT OF LABOR Occupational Safety and Health Administration Maritime Advisory Committee for Occupational Safety and Health; Notice of Meeting AGENCY: Occupational Safety and Health Administration (OSHA), Labor. ACTION: Maritime Advisory Committee for Occupational Safety and Health; notice of meeting. SUMMARY: The Maritime Advisory Committee for Occupational Safety and Health (“MACOSH” or “Committee”) was established to advise the Assistant Secretary of Labor for OSHA on issues relating to occupational safety and health in the maritime industries. The purpose of this **Federal Register** notice is to announce the MACOSH and workgroup meetings scheduled for March 18 to 20, 2008. DATES: On Tuesday, March 18, 2008, the Shipyards, Longshoring, and Cranes and Falls workgroups will meet during the times listed below in the SUPPLEMENTARY INFORMATION section. On Wednesday, March 19, 2008, the Health, and Outreach and Safety Culture workgroups will meet during the times listed below in the SUPPLEMENTARY INFORMATION section. MACOSH will meet on Thursday, March 20, 2008, from 8:30 a.m. until approximately 5 p.m. ADDRESSES: The Committee and workgroups will meet at the Wyndham Greenspoint Hotel, 12400 Greenspoint Drive, Houston, TX 77060. Mail comments, views, or statements in response to this notice to Vanessa L. Welch, Office of Maritime, OSHA, U.S. Department of Labor, Room N-3609, 200 Constitution Avenue, NW., Washington, DC 20210; phone

(202)693-2086; FAX:

(202)693-1663. FOR FURTHER INFORMATION CONTACT: For general information about MACOSH and this meeting, contact: Joseph Daddura, Office of Maritime, OSHA, U.S. Department of Labor, Room N-3609, 200 Constitution Avenue, NW., Washington, DC 20210; phone:

(202)693-2067. Individuals with disabilities wishing to attend the meeting should contact Vanessa L. Welch at

(202)693-2086 no later than March 3, 2008, to obtain appropriate accommodations. SUPPLEMENTARY INFORMATION: All MACOSH meetings and workgroup meetings are open to the public. All interested persons are invited to attend the MACOSH and workgroup meetings at the times and places listed above. Each workgroup may discuss one or more of the topics listed for that workgroup as time permits. The meeting times for each workgroup are approximate and subject to change without advance notice. The Shipyards workgroup will meet on Tuesday, March 18, 2008, from 8 a.m. until 10:30 a.m. in Salon 2. Discussions may include spray paint standards and hot work on coatings, the shipbreaking guidance document, and electrical standards. The Longshoring workgroup will meet on Tuesday, March 18, 2008, from 10:45 a.m. until 1:15 p.m. in Salon 2. Discussions may include the traffic safety in marine terminals guidance document, the roll-on roll-off cargo guidance document, the International Maritime Organization's initiative on cargo-lashing safety, and the flat-rack guidance document. The Cranes and Falls workgroup will meet on Tuesday, March 18, 2008, from 2:15 p.m. until 3:15 p.m. in Salon 2. Discussions may include working over water from aerial work platforms, working under a suspended load, and the barge safety guidance document. The Health workgroup will meet on Wednesday, March 19, 2008, from 8 a.m. until 10:30 a.m. in Salon 3. Discussions will include radiation exposure in marine terminals. The Outreach and Safety Culture workgroup will meet on Wednesday, March 19, 2008, from 10:45 a.m. until 1:15 p.m. in Salon 3. Discussions may include leading indicators, substance abuse, and the longshoring and shipyard pocket guides. *MACOSH agenda:* The agenda will include: an OSHA activities update, reports from each workgroup, and a review of the minutes from the previous meeting. *Public Participation:* Written data, views, or comments for consideration by MACOSH on the various agenda items listed above should be submitted to Vanessa L. Welch at the address listed above. Submissions received by March 3, 2008, will be provided to Committee members and will be included in the record of the meeting. Requests to make oral presentations to the Committee may be granted as time permits. Anyone wishing to make an oral presentation to the Committee on any of the agenda items listed above should notify Vanessa L. Welch by March 3, 2008. The request should state the amount of time desired, the capacity in which the person will appear, and a brief outline of the content of the presentation. Authority: Edwin G. Foulke, Jr., Assistant Secretary of Labor for Occupational Safety and Health, directed the preparation of this notice under the authority granted by Sections 6(b)(1) and 7(b) of the Occupational Safety and Health Act of 1970 (29 U.S.C. 655, 656), the Federal Advisory Committee Act (5 U.S.C. App. 2), Secretary of Labor's Order 5-2007 (72 FR 31159), and 29 CFR part 1912. Signed at Washington, DC on the 8th of February, 2008. Edwin G. Foulke, Jr., Assistant Secretary of Labor for Occupational Safety and Health. [FR Doc. E8-2673 Filed 2-13-08; 8:45 am] BILLING CODE 4510-26-P NUCLEAR REGULATORY COMMISSION Agency Information Collection Activities: Proposed Collection; Comment Request AGENCY: U.S. Nuclear Regulatory Commission (NRC). ACTION: Notice of pending NRC action to submit an information collection request to the Office of Management and Budget

(OMB)and solicitation of public comment. SUMMARY: The NRC is preparing a submittal to OMB for review of continued approval of information collections under the provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35). Information pertaining to the requirement to be submitted: 1. *The title of the information collection:* Notice of Enforcement Discretion (NOEDs) For Operating Power Reactors and Gaseous Diffusion Plants

(GDP)(NRC Enforcement Policy). 2. *Current OMB approval number:* 3150-0136. 3. *How often the collection is required:* On occasion. 4. *Who is required or asked to report:* Nuclear power reactor licensees and gaseous diffusion plant certificate holders. 5. *The number of annual respondents:* Approximately 14. 6. *The number of hours needed annually to complete the requirement or request:* 1,825. 7. *Abstract:* The NRC's Enforcement Policy addresses circumstances in which the NRC may exercise enforcement discretion. A specific type of enforcement discretion is designated as a NOED and relates to circumstances which may arise where a nuclear power plant licensee's compliance with a Technical Specification Limiting Condition for Operation or other license conditions would involve:

(1)An unnecessary plant shutdown;

(2)performance of testing, inspection, or system realignment that is inappropriate for the specific plant conditions; or

(3)unnecessary delays in plant startup without a corresponding health and safety benefit. Similarly, for a gaseous diffusion plant, circumstances may arise where compliance with a Technical Safety Requirement or other condition would unnecessarily call for a total plant shutdown, or, compliance would unnecessarily place the plant in a condition where safety, safeguards or security features were degraded or inoperable. A licensee or certificate holder seeking the issuance of an NOED must provide a written justification, in accordance with guidance provided in NRC Inspection Manual, Part 9900, which documents the safety basis for the request and provides whatever other information the NRC staff deems necessary to decide whether or not to exercise discretion. Submit, by April 14, 2008, comments that address the following questions: 1. Is the proposed collection of information necessary for the NRC to properly perform its functions? Does the information have practical utility? 2. Is the burden estimate accurate? 3. Is there a way to enhance the quality, utility, and clarity of the information to be collected? 4. How can the burden of the information collection be minimized, including the use of automated collection techniques or other forms of information technology? A copy of the draft supporting statement may be viewed free of charge at the NRC Public Document Room, One White Flint North, 11555 Rockville Pike, Room O-1 F21, Rockville, MD 20852. OMB clearance requests are available at the NRC worldwide Web site: *http://www.nrc.gov/public-involve/doc-comment/omb/index.html.* The document will be available on the NRC home page site for 60 days after the signature date of this notice. Comments and questions about the information collection requirements may be directed to the NRC Clearance Officer, Margaret A. Janney (T-5 F52), U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001, by telephone at 301-415-7245, or by e-mail to *INFOCOLLECTS@NRC.GOV.* Dated at Rockville, Maryland, this 7th day of February 2008. For the Nuclear Regulatory Commission. Gregory Trussell, Acting NRC Clearance Officer, Office of Information Services. [FR Doc. E8-2763 Filed 2-13-08; 8:45 am] BILLING CODE 7590-01-P NUCLEAR REGULATORY COMMISSION [Docket Nos. 50-247 and 50-286; License Nos. DPR-26 AND DPR-64] Entergy Nuclear Operations, Inc., Entergy Nuclear Indian Point 2, Llc, Entergy Nuclear Indian Point 3, Llc; Indian Point Nuclear Generating Unit Nos. 2 and 3; Receipt of Request for Action Under 10 CFR 2.206 Notice is hereby given that by petition dated June 25, 2007, Friends United for Sustainable Energy (FUSE, the Petitioner) has requested that pursuant to 10 CFR 2.206, the NRC take action with regard to the Indian Point Nuclear Generating Unit Nos. 2 and 3 (Indian Point). The petition requested that the NRC issue orders, effective immediately, to suspend the Indian Point licenses until such time as the issues described in the petition can be remedied to a point of full compliance with all local, State, and Federal laws. The request is being treated pursuant to 10 CFR 2.206 of the Commission's regulations. The request has been referred to the Director of the Office of Nuclear Reactor Regulation (NRR). On September 4, 2007, the Petitioner was notified that its request for immediate action is denied. The Petitioner participated in a conference call with the NRR Petition Review Board

(PRB)on December 21, 2007, to discuss the petition. The additional information provided by the Petitioner was considered by the PRB before making its final recommendation. By letter dated February 1, 2008, the Director accepted for review pursuant to 10 CFR 2.206 the Petitioner's concerns regarding the licensee's failure to implement the new emergency notification siren system in a timely manner and the underground leakage of contaminated water at the Indian Point facility. As provided by Section 2.206, appropriate action will be taken on this petition within a reasonable time. A copy of the petition can be located at Agencywide Documents Access and Management Systems, Accession No. ML072140693, and is available for inspection at the Commission's Public Document Room, located at One White Flint North, 11555 Rockville Pike (first floor), Rockville, Maryland. Dated at Rockville, Maryland this 1st day of February 2008. For the Nuclear Regulatory Commission. J. E. Dyer, Director, Office of Nuclear Reactor Regulation. [FR Doc. E8-2776 Filed 2-13-08; 8:45 am] BILLING CODE 7590-01-P NUCLEAR REGULATORY COMMISSION [Docket No. 030-34325] Notice of Availability of Environmental Assessment and Finding of No Significant Impact for Amendment of a Materials Permit in Accordance With Byproduct Materials License No. 03-23853-01VA, for Unrestricted Release of a Department of Veterans Affairs' Facility in Seattle, WA AGENCY: Nuclear Regulatory Commission. ACTION: Issuance of Environmental Assessment and Finding of No Significant Impact for License Amendment. FOR FURTHER INFORMATION CONTACT: William Snell, Senior Health Physicist, Decommissioning Branch, Division of Nuclear Materials Safety, Region III, U.S. Nuclear Regulatory Commission, 2443 Warrenville Road, Lisle, Illinois 60532; telephone:

(630)829-9871; fax number:

(630)515-1259; or by e-mail at *wgs@nrc.gov.* SUPPLEMENTARY INFORMATION: I. Introduction The U.S. Nuclear Regulatory Commission

(NRC)is proposing to amend a materials permit held under Byproduct Materials License No. 03-23853-01VA. The permit is held by the Department of Veterans Affairs (the Licensee), for its Puget Sound VA Health Care System facilities, located at 1660 South Columbian Way, Seattle, Washington (the Facility). Issuance of the amendment would authorize release of Waste Area 3 (described below) for unrestricted use. The Licensee requested this action in a letter dated July 5, 2007. The NRC has prepared an Environmental Assessment

(EA)in support of this proposed action in accordance with the requirements of Title 10, Code of Federal Regulations (CFR), Part 51 (10 CFR Part 51). Based on the EA, the NRC has concluded that a Finding of No Significant Impact (FONSI) is appropriate with respect to the proposed action. The amendment will be issued to the Licensee following the publication of this FONSI and EA in the **Federal Register** . II. Environmental Assessment Identification of Proposed Action The proposed action would approve the Licensee's July 5, 2007, materials permit amendment request, resulting in release of Waste Area 3 for unrestricted use. License No. 03-23853-01VA was issued on March 17, 2003, pursuant to 10 CFR Parts 30 and 35, and has been amended periodically since that time. This license authorizes the Licensee to use byproduct materials at several Licensee facilities around the country, as authorized on a site-specific basis by permits issued by the Licensee's National Radiation Safety Committee. Under the license, the permits authorize the use of by-product materials for various medical and veterinary purposes, and for use in portable gauges. The Facility is situated on a 44 acre site comprised of 20 buildings and five parking areas, and is located in a metropolitan area of Seattle, Washington which is surrounded by residential neighborhoods and commercial enterprises. Within the Facility, Waste Area 3 was constructed in 1988 as a temporary storage site for decay-in-storage radioactive waste, and was a single floor, sheet-metal enclosed structure bolted onto an 8 × 14 × 8 foot chain-link fence. The floor consisted of 3/4 inch thick asphalt. The structure had no electrical, ventilation, heating system, drainage system, water, sewer, or septic. The Licensee ceased using licensed materials in Waste Area 3 on November 15, 2006, and initiated surveys and decontamination of the building. Based on the Licensee's historical knowledge of the site and the conditions within Waste Area 3, the Licensee determined that only routine decontamination activities, in accordance with their NRC-approved, operating radiation safety procedures, were required. The Licensee was not required to submit a decommissioning plan to the NRC because worker cleanup activities and procedures are consistent with those approved for routine operations. The Licensee conducted final status surveys of Waste Area 3 on November 17, 2006. Additional surveys were conducted on April 10, 2007, of the waste barrels that had been removed from Waste Storage Area 3 in November 2006. The results of these surveys along with other supporting information were provided to the NRC to demonstrate that the criteria in Subpart E of 10 CFR Part 20 for unrestricted release have been met. Need for the Proposed Action The Licensee has ceased conducting licensed activities in Waste Area 3, and seeks the unrestricted use of Waste Area 3. Environmental Impacts of the Proposed Action The historical review of licensed activities conducted in Waste Area 3 shows that such activities involved use of the following radionuclides with half-lives greater than 120 days: hydrogen-3 (H-3) and carbon-14 (C-14). Prior to performing the final status survey, the Licensee conducted decontamination activities, as necessary, in the areas of Waste Area 3 affected by these radionuclides. The Licensee completed final status surveys on Waste Area 3 on November 17, 2006. The surveys covered all areas of Waste Area 3. The final status survey report was attached to the Licensee's amendment request dated July 5, 2007. The Licensee elected to demonstrate compliance with the radiological criteria for unrestricted release as specified in 10 CFR 20.1402 using release criteria for building surfaces based on NUREG-1556, Volume 7, “Program-Specific Guidance about Academic, Research and Development, and Other Licenses of Limited Scope Including Gas Chromatographs and X-Ray Fluorescence Analyzers—Final Report,” Appendix Q, “Radiation Safety Survey Topics.” These release criteria are the same as the radionuclide-specific dose-based release criteria, described in NUREG-1757, “Consolidated NMSS Decommissioning Guidance,” Volume 2. These values provide acceptable levels of surface contamination to demonstrate compliance with the NRC requirements in Subpart E of 10 CFR Part 20 for unrestricted release. The Licensee's final status survey results were below these values and are in compliance with the As Low As Reasonably Achievable (ALARA) requirement of 10 CFR 20.1402. The NRC thus finds that the Licensee's final status survey results are acceptable. Based on its review, the staff has determined that the affected environment and any environmental impacts associated with the proposed action are bounded by the impacts evaluated by the “Generic Environmental Impact Statement in Support of Rulemaking on Radiological Criteria for License Termination of NRC-Licensed Nuclear Facilities” (NUREG-1496) Volumes 1-3 (ML042310492, ML042320379, and ML042330385). The staff finds there were no significant environmental impacts from the use of radioactive material in Waste Area 3. The NRC staff reviewed available docket file records and the final status survey report to identify any non-radiological hazards that may have impacted the environment surrounding Waste Area 3. No such hazards or impacts to the environment were identified. The NRC has identified no other radiological or non-radiological activities in the area that could result in cumulative environmental impacts. The NRC staff finds that the proposed release of Waste Area 3 for unrestricted use is in compliance with 10 CFR Part 20. Based on its review, the staff considered the impact of the residual radioactivity from Waste Area 3 and concluded that the proposed action will not have a significant effect on the quality of the human environment. Environmental Impacts of the Alternatives to the Proposed Action Due to the largely administrative nature of the proposed action, its environmental impacts are small. Therefore, the only alternative the staff considered is the no-action alternative, under which the staff would leave things as they are by simply denying the amendment request. This no-action alternative is not feasible because it conflicts with 10 CFR 30.36(d), requiring that decommissioning of byproduct material facilities be completed and approved by the NRC after licensed activities cease. The NRC's analysis of the Licensee's final status survey data confirmed that Waste Area 3 meets the requirements of 10 CFR 20.1402 for unrestricted release. Additionally, denying the amendment request would result in no change in current environmental impacts. The environmental impacts of the proposed action and the no-action alternative are therefore similar, and the no-action alternative is accordingly not further considered. Conclusion The NRC staff has concluded that the proposed action is consistent with the NRC's unrestricted release criteria specified in 10 CFR 20.1402. Because the proposed action will not significantly impact the quality of the human environment, the NRC staff concludes that the proposed action is the preferred alternative. Agencies and Persons Consulted NRC provided a draft of this Environmental Assessment to the State of Washington Department of Health, Office of Radiation Protection, for review on January 2, 2008. On January 8, 2008, the Office of Radiation Protection responded by e-mail. The State agreed with the conclusions of the EA. The NRC staff has determined that the proposed action is of a procedural nature, and will not affect listed species or critical habitat. Therefore, no further consultation is required under Section 7 of the Endangered Species Act. The NRC staff has also determined that the proposed action is not the type of activity that has the potential to cause effects on historic properties. Therefore, no further consultation is required under Section 106 of the National Historic Preservation Act. III. Finding of No Significant Impact The NRC staff has prepared this EA in support of the proposed action. On the basis of this EA, the NRC finds that there are no significant environmental impacts from the proposed action, and that preparation of an environmental impact statement is not warranted. Accordingly, the NRC has determined that a Finding of No Significant Impact is appropriate. IV. Further Information Documents related to this action, including the application for license amendment and supporting documentation, are available electronically at the NRC's Electronic Reading Room at *http://www.nrc.gov/reading-rm/adams.html.* From this site, you can access the NRC's Agencywide Document Access and Management System (ADAMS), which provides text and image files of NRC's public documents. The documents related to this action are listed below, along with their ADAMS accession numbers. 1. E. Lynn McGuire, Department of Veterans Affairs, letter to Cassandra Frazier, U.S. Nuclear Regulatory Commission, Region III, dated July 5, 2007 (ADAMS Accession No. ML071900464); 2. Thomas Huston, Department of Veterans Affairs, e-mail to William Snell, U.S. Nuclear Regulatory Commission, Region III, dated December 12, 2007 (ADAMS Accession No. ML073610490); Title 10 Code of Federal Regulations, Part 20, Subpart E, “Radiological Criteria for License Termination;” 3. Title 10 Code of Federal Regulations, Part 51, “Environmental Protection Regulations for Domestic Licensing and Related Regulatory Functions;” 4. NUREG-1496, “Generic Environmental Impact Statement in Support of Rulemaking on Radiological Criteria for License Termination of NRC-Licensed Nuclear Facilities;” 5. NUREG-1757, “Consolidated NMSS Decommissioning Guidance,” 6. NUREG-1556, Volume 7, “Program-Specific Guidance About Academic, Research and Development, and Other Licenses of Limited Scope Including Gas Chromatographs and X-Ray Fluorescence Analyzers—Final Report,” Appendix Q, “Radiation Safety Survey Topics.” If you do not have access to ADAMS, or if there are problems in accessing the documents located in ADAMS, contact the NRC Public Document Room

(PDR)Reference staff at 1-800-397-4209, 301-415-4737, or by e-mail to *pdr@nrc.gov.* These documents may also be viewed electronically on the public computers located at the NRC's PDR, O 1 F21, One White Flint North, 11555 Rockville Pike, Rockville, MD 20852. The PDR reproduction contractor will copy documents for a fee. Dated at Lisle, Illinois, this 4th day of February 2008. For the Nuclear Regulatory Commission. Patrick L. Louden, Chief, Decommissioning Branch, Division of Nuclear Materials Safety, Region III. [FR Doc. E8-2774 Filed 2-13-08; 8:45 am] BILLING CODE 7590-01-P NUCLEAR REGULATORY COMMISSION [Docket No. 52-016] Unistar Nuclear, LLC; Calvert Cliffs Partial Combined License Application; Notice of Intent To Prepare an Environmental Impact Statement and Conduct Scoping Process UniStar Nuclear, LLC (UniStar), has submitted a partial application for a combined license

(COL)for its Calvert Cliffs Nuclear Power Plant (CCNPP) site to build Unit 3, located on approximately 2,057 acres in Calvert County, Maryland, approximately 40 miles southeast of Washington, DC, and 7.5 miles north of Solomons, Maryland, along the western bank of the Chesapeake Bay. Part 1 of the application for the COL was submitted by letter dated July 13, 2007, pursuant to the requirements of Title 10, Part 52, and in accordance with 10 CFR 2.101(a)(5). Subsequent information was submitted on July 16, 2007, August 2, 2007, and October 30, 2007. In addition, the UniStar COL application references dose consequence information in UniStar's December 14, 2007, application for certification of the Evolutionary Power Reactor design. Accordingly, the NRC staff reviewed the design certification application and determined that it contains information sufficient to permit docketing of the environmental report (ER). A notice of receipt and availability of the partial application, which included the ER, was published in the **Federal Register** on August 15, 2007 (72 FR 45832). A notice of acceptance for docketing of the partial application for the COL was published in the **Federal Register** on January 31, 2008 (73 FR 5877). The purpose of this notice is to inform the public that the U.S. Nuclear Regulatory Commission

(NRC)will be preparing an environmental impact statement

(EIS)in support of the review of the COL partial application and to provide the public an opportunity to participate in the environmental scoping process, as defined in 10 CFR 51.29. In addition, as outlined in 36 CFR 800.8(c), “Coordination with the National Environmental Policy Act

(NEPA)of 1969, as amended,” the NRC staff plans to coordinate compliance with Section 106 of the National Historic Preservation Act

(NHPA)with steps taken to meet the requirements of NEPA. Pursuant to 36 CFR 800.8(c), the NRC staff intends to use the process and documentation for the preparation of the EIS on the proposed action to comply with section 106 of the NHPA in lieu of the procedures set forth in 36 CFR 800.3 through 800.6. In accordance with 10 CFR 51.45, 10 CFR 51.50, and 10 CFR 2.101(a)(5), UniStar submitted the ER along with portions of the Final Safety Analysis Report

(FSAR)as part 1 of the partial application. The ER was prepared pursuant to 10 CFR Parts 51 and 52 and is available for public inspection at the NRC Public Document Room (PDR), located at One White Flint North, 11555 Rockville Pike (first floor), Rockville, Maryland, or from the Publicly Available Records component of the NRC's Agency-wide Documents Access and Management System (ADAMS). ADAMS is accessible at *http://www.nrc.gov/reading-rm/adams.html* , which provides access through the NRC's Electronic Reading Room

(ERR)link. The accession number in ADAMS for part 1 of the partial application received on July 13, 2007, is ML071980294. The accession numbers in ADAMS for the supplemental information submitted by letters dated July 16, 2007, August 2, 2007, October 30, 2007, and December 14, 2007, are ML072000363, ML072200533, ML072220589, ML073060128, ML073520192, ML073520211, and ML073520221. Persons who do not have access to ADAMS or who encounter problems in accessing the documents located in ADAMS should contact the NRC's PDR Reference staff at 1-800-397-4209 or 301-415-4737, or by sending an e-mail to *pdr@nrc.gov* . The partial application may also be viewed on the Internet at *http://www.nrc.gov/reactors/new-licensing/col/calvert-cliffs.html* . In addition, the Calvert Library, Southern Branch located at 20 Appeal Lane, Lusby, Maryland, and Calvert Library, Prince Frederick located at 850 Costley Way, Prince Frederick, Maryland, have agreed to make the ER available for public inspection. The following key reference documents related to the COL partial application and the NRC staff's review process are available through the NRC's Web site at *http://www.nrc.gov* : a. 10 CFR Part 51, Environmental Protection Regulations for Domestic Licensing and Related Regulatory Functions, b. 10 CFR Part 52, Licenses, Certifications, and Approvals for Nuclear Power Plants, c. 10 CFR Part 100, Reactor Site Criteria, d. NUREG-1555, Standard Review Plans for Environmental Reviews for Nuclear Power Plants, e. NUREG/BR-0298, Brochure on Nuclear Power Plant Licensing Process, f. Fact Sheet on Nuclear Power Plant Licensing Process, g. Regulatory Guide 4.2, Preparation of Environmental Reports for Nuclear Power Stations, h. Regulatory Guide 1.206, Combined License Applications for Nuclear Power Plants, and i. NRR Office Instruction LIC-203, Procedural Guidance for Preparing Environmental Assessments and Considering Environmental Issues. The regulations, NUREG-series documents, regulatory guides, and fact sheet can be found under Document Collections in the Electronic Reading Room on the NRC Web page. Finally, Office Instruction LIC-203 can be found in ADAMS in two parts under accession numbers ML011710073 (main text) and ML011780314 (charts and figures). This notice advises the public that the NRC intends to gather the information necessary to prepare an EIS in support of the review of the partial application for the COL at the CCNPP COL site. Possible alternatives to the proposed action (issuance of the COL at the CCNPP COL site) include no action and consideration of alternative sites. The NRC is required by 10 CFR 51.20(b)(2) to prepare an EIS in connection with the issuance of a COL. This notice is being published in accordance with NEPA and NRC regulations found in 10 CFR Part 51. The NRC will first conduct a scoping process for the EIS and, as soon as practicable thereafter, will prepare a draft EIS for public comment. Participation in the scoping process by members of the public and local, State, Tribal, and Federal government agencies is encouraged. The scoping process for the EIS will be used to accomplish the following: a. Define the proposed action which is to be the subject of the EIS; b. Determine the scope of the EIS and identify the significant issues to be analyzed in depth; c. Identify and eliminate from detailed study those issues that are peripheral or that are not significant; d. Identify any environmental assessments and other EISs that are being or will be prepared that are related to, but are not part of the scope of the EIS being considered; e. Identify other environmental review and consultation requirements related to the proposed action; f. Identify parties consulting with the NRC under the NHPA, as set forth in 36 CFR 800.8(c)(1)(i); g. Indicate the relationship between the timing of the preparation of the environmental analyses and the Commission's tentative planning and decision-making schedule; h. Identify any cooperating agencies and, as appropriate, allocate assignments for preparation and schedules for completing the EIS to the NRC and any cooperating agencies; and i. Describe how the EIS will be prepared and include any contractor assistance to be used. The NRC invites the following entities to participate in the scoping process: a. The applicant, UniStar Nuclear; b. Any Federal agency that has jurisdiction by law or special expertise with respect to any environmental impact involved or that is authorized to develop and enforce relevant environmental standards; c. Affected State and local government agencies, including those authorized to develop and enforce relevant environmental standards; d. Any affected Indian tribe; e. Any person who requests or has requested an opportunity to participate in the scoping process; and f. Any person who intends to petition for leave to intervene. In accordance with 10 CFR 51.26, the scoping process for an EIS may include a public scoping meeting to help identify significant issues related to a proposed activity and to determine the scope of issues to be addressed in an EIS. The NRC will hold two identical public scoping meetings for the EIS regarding the CCNPP COL partial application. The scoping meetings are scheduled for Wednesday, March 19, 2008 at the Holiday Inn Select, 155 Holiday Drive, Solomons, Maryland. The first meeting will convene at 1 p.m. and will continue until approximately 4 p.m. The second meeting will convene at 7 p.m. and will continue until approximately 10 p.m. The meetings will be transcribed and will include:

(1)An overview by the NRC staff of the NEPA environmental review process, the proposed scope of the EIS, the proposed review schedule, and

(2)the opportunity for interested government agencies, organizations, and individuals to submit comments or suggestions on the environmental issues or the proposed scope of the EIS. Additionally, the NRC staff will host informal discussions one hour before the start of the two meetings at the Holiday Inn Select. No formal comments on the proposed scope of the EIS will be accepted during the informal discussions. To be considered, comments must be provided either at the transcribed public meeting or in writing, as discussed below. Persons may register to attend or present oral comments at the meeting on the scope of the NEPA review by contacting Mr. Thomas L. Fredrichs at 1-800-368-5642, extension 5971, or by e-mail to the NRC at *CalvertCliffs.COLAEIS@nrc.gov* , no later than March 11, 2008. Members of the public may also register to speak at the meeting within 15 minutes of the start of the meeting. Individual oral comments may be limited by the time available, depending on the number of persons who register. Members of the public who have not registered may also have an opportunity to speak, if time permits. Public comments will be considered in the scoping process for the EIS. Mr. Fredrichs will need to be contacted no later than March 11, 2008, if special equipment or accommodations are needed to attend or present information at the public meeting, so that the NRC staff can determine whether the request can be accommodated. Members of the public may send written comments on the environmental scope of the CCNPP COL review to the Chief, Rules and Directives Branch, Division of Administrative Services, Office of Administration, Mailstop T-6D59, U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001 and should cite the publication date and page number of this **Federal Register** notice. Comments may also be delivered to Room T-6D59, Two White Flint North, 11545 Rockville Pike, Rockville, Maryland from 7:30 a.m. to 4:15 p.m., during Federal workdays. To be considered in the scoping process, comments should be received by the end of the scoping comment period, which is April 14, 2008. Written comments should be postmarked by April 14, 2008. Electronic comments may be sent via the Internet to the NRC at *CalvertCliffsCOLAEIS@nrc.gov* . Submissions should be sent no later than April 14, 2008, to be considered in the scoping process. Comments will be available in the meeting summary report electronically and accessible through the NRC's ERR link at *http://www.nrc.gov/reading-rm/adams.html* . Participation in the scoping process for the EIS does not entitle participants to become parties to the proceeding to which the EIS relates. Notice of a hearing regarding the complete application for a COL will be the subject of a future **Federal Register** notice if UniStar submits the remaining portion of the Calvert Cliffs COL application and the NRC staff finds it acceptable for docketing. At the conclusion of the scoping process, the NRC staff will prepare a concise summary of the determination and conclusions reached, including the significant issues identified, and will send a copy of the summary to each participant in the scoping process. The summary will also be available for inspection through the NRC's ERR link. The staff will then prepare and issue for comment the draft EIS, which will be the subject of separate notices and a separate public meeting. A copy of the draft EIS will be available for public inspection at the above-mentioned address, and one copy per request will be provided free of charge. After receipt and consideration of the comments, the NRC staff will prepare a final EIS, (which will also be available for public inspection). Information about the proposed EIS and the scoping process may be obtained from Mr. Thomas L. Fredrichs, Senior Environmental Project Manager at

(301)415-5971. Dated at Rockville, Maryland, this 8th day of February 2008. For the Nuclear Regulatory Commission. R. W. Borchardt, Director, Office of New Reactors. [FR Doc. E8-2775 Filed 2-13-08; 8:45 am] BILLING CODE 7590-01-P SECURITIES AND EXCHANGE COMMISSION [Securities Exchange Act of 1934; Release No. 57300] Order Granting Registration of Lace Financial Corp. as a Nationally Recognized Statistical Rating Organization February 11, 2008. LACE Financial Corp. (“LACE”), a credit rating agency, furnished to the Securities and Exchange Commission (“Commission”) an application for registration as a nationally recognized statistical rating organization (“NRSRO”) under section 15E of the Securities Exchange Act of 1934 (“Exchange Act”) for the classes of credit ratings described in clauses

(i)through

(v)of section 3(a)(62)(B) of the Exchange Act. Based on the information provided in the application, LACE has a conflict of interest relating to the fourth class that would cause the firm to be in violation of Exchange Act Rule 17g-5(c)(1) (17 CFR 240.17g-5(c)(1)) if it became registered. LACE requested that the Commission grant LACE an exemption from the conflict of interest prohibition in Exchange Act Rule 17g-5(c)(1). Simultaneously with this Order, the Commission is issuing an Order (“Exemptive Order”) granting LACE an exemption from Exchange Act Rule 17g-5(c)(1) until January 1, 2009. 1 1 Release No. 34-57301 (February 11, 2008). The Commission finds that the application furnished by LACE is in the form required by Exchange Act section 15E, Exchange Act Rule 17g-1 (17 CFR 240.17g-1), and Form NRSRO (17 CFR 249b.300) and contains the information described in subparagraph

(B)of section 15E(a)(1) of the Exchange Act. Based on the application and Exemptive Order, the Commission finds that the requirements of section 15E of the Exchange Act are satisfied. Accordingly, *It is ordered,* under paragraph (a)(2)(A) of section 15E of the Exchange Act, that the registration of LACE Financial Corp. with the Commission as an NRSRO under section 15E of the Exchange Act for the classes of credit ratings described in clauses

(i)through

(v)of section 3(a)(62)(B) of the Exchange Act is granted. By the Commission. Nancy M. Morris, Secretary. [FR Doc. E8-2772 Filed 2-13-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57301] Order Granting Temporary Exemption of LACE Financial Corp. From the Conflict of Interest Prohibition in Rule 17a-5(c)(1) of the Securities Exchange Act of 1934 February 11, 2008. I. Introduction The Credit Rating Agency Reform Act of 2006 (“Rating Agency Act”), 1 enacted on September 29, 2006, defined the term “nationally recognized statistical rating organization” (“NRSRO”), added Section 15E to the Securities Exchange Act of 1934 (“Exchange Act”), and provided authority for the Securities and Exchange Commission (“Commission”) to implement registration, recordkeeping, financial reporting, and oversight rules with respect to registered credit rating agencies. Exchange Act Rule 17g-1 (17 CFR 240.17g-1), and Form NRSRO (17 CFR 249b.300), prescribe the process for a credit rating agency to apply for registration. Rule 17g-1 and Form NRSRO were effective on June 18, 2007, and the other rules, Rules 17g-2 through 17g-6 (17 CFR 240.17g-2 through 17g-6), became effective on June 26, 2007. 2 1 Public Law 109-291 (2006). 2 Release No. 34-55857 (June 5, 2007), 72 FR 33564, 33564-65 (June 18, 2007). In particular, Rule 17g-5(c)(1) prohibits an NRSRO from issuing or maintaining a credit rating solicited by a person that, in the most recently ended fiscal year, provided the NRSRO with net revenue equaling or exceeding 10% of the total net revenue of the NRSRO for the fiscal year. In adopting this rule, the Commission stated that such a person would be in a position to exercise substantial influence on the NRSRO, which in turn would make it difficult for the NRSRO to remain impartial. 3 3 *Id.* at 33598. II. Application and Exemption Request of LACE Financial Corporation LACE Financial Corp. (“LACE”), a credit rating agency, furnished to the Commission an application for registration as an NRSRO under Section 15E of the Exchange Act for the classes of credit ratings described in clauses

(i)through

(v)of Section 3(a)(62)(B) of the Exchange Act. Based on the information provided in the application, LACE has a conflict of interest relating to the fourth class 4 that would cause the firm to be in violation of Rule 17g-5(c)(1) if LACE became registered. Specifically, for the fiscal year ending December 31, 2007, LACE maintained credit ratings on asset-backed securities solicited by a person that provided LACE with 10% or more of its total revenues for that year. 4 The fourth class of credit ratings is for “issuers of asset-backed securities (as that term is defined in section 1101(c) of part 229 of title 17, Code of Federal Regulations* * *) (“asset-backed securities”). Section 3(a)(62)(B)(iv) of the Exchange Act. LACE has requested that the Commission exempt it from Rule 17g-5(c)(1) on the grounds that the prohibition hinders its ability as a small entity to grow its business issuing credit ratings on asset-backed securities. LACE indicated in its application that it expects the percentage of revenue attributable to the relevant client to decrease based on LACE's revenue trend, continued growth, and the problems in the asset-backed securities market. III. Discussion The Commission, when adopting Rule 17g-5(c)(1), noted that it intended to monitor how the prohibition operates in practice, particularly with respect to asset-backed securities, and whether exemptions may be appropriate. 5 The Commission notes that the revenue in question was earned by LACE before it submitted its application for registration and in the year before Rule 17g-5 was adopted, which limited the time for LACE to adjust its activities to conform to the requirements of the Rule. In addition, the Commission recognizes that, given LACE's size, it is more likely that the firm would be affected by Rule 17g-5(c)(1) than a larger credit rating agency with a more diversified client base. Further, the Commission notes that LACE has stated that it expects that the percentage of total revenue provided by the client will decrease. Finally, the Commission notes that the threshold in Rule 17g-5(c)(1) is, of necessity, a bright line, but activities that exceed that threshold may or may not necessarily raise the concerns that are the basis for the rule. Hence, the Commission believes that it is important for the Commission to consider for each application the specific facts and circumstances of the applicant and whether to grant an exemption from Rule 17g-5(c)(1). Moreover, in this instance, the Commission recognizes that granting this exemption furthers the primary purpose of the Rating Agency Act, which is to enhance competition in the highly concentrated ratings industry. Granting LACE registration in the asset-backed security class will increase the number of NRSROs registered in this class, which could increase competition. 5 Release No. 34-55857 (June 5, 2007), 72 FR 33564, 33598 (June 18, 2007). For these reasons, the Commission finds that granting LACE an exemption from Rule 17g-5(c)(1) for calendar year 2008 is necessary and appropriate in the public interest and is consistent with the protection of investors. 6 The exemption will expire on January 1, 2009 (LACE's fiscal year ends on December 31, 2008). The Commission believes that providing LACE with the opportunity to be registered in the asset-backed security class during this time frame is an appropriate approach to addressing the unique circumstances of a small credit rating agency, while balancing this against the goal of Rule 17g-5(c)(1)—to prohibit a conflict that has the potential to influence a credit rating agency's impartiality. Consequently, this exemption is conditioned on LACE disclosing in Exhibit 6 to Form NRSRO that the firm received more than 10% of its net revenue in fiscal year 2007 from a client that paid it to rate asset-backed securities. This disclosure is designed to alert users of credit ratings to the existence of this specific conflict. 6 Section 36 of the Exchange Act authorizes the Commission, by rule, regulation, or order, to conditionally or unconditionally exempt any person from any rule under the Exchange Act, to the extent that the exemption is necessary or appropriate in the public interest and is consistent with the protection of investors. 15 U.S.C. 78mm. Simultaneously with this Order, the Commission is issuing an Order granting the registration of LACE with the Commission as an NRSRO under Section 15E of the Exchange Act. 7 7 Release No. 34-57300 (February 11, 2008). IV. Conclusion Accordingly, pursuant to Section 36 of the Exchange Act, *It is hereby ordered* that LACE Financial Corp. is exempt from the conflict of interest prohibition in Exchange Act Rule 17g-5(c)(1) until January 1, 2009, provided that LACE Financial Corp. discloses in Exhibit 6 to Form NRSRO that the firm received more than 10% of its net revenue in fiscal year 2007 from a client that paid it to rate asset-backed securities. By the Commission. Nancy M. Morris, Secretary. [FR Doc. E8-2771 Filed 2-13-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57296; File No. SR-Amex-2008-08] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Eliminate Percentage Orders and Passive Price Improving Orders on the AEMI Platform February 8, 2008. 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 February 6, 2008, 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 and II below, which Items have been prepared substantially by the Amex. The Amex has submitted the proposed rule change under section 19(b)(3)(A) of the Act 3 and Rule 19b-4(f)(6) 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). 4 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Amex proposes to revise its rules to eliminate percentage orders and passive price improvement (“PPI”) orders as valid order types for securities traded on the Amex's AEMI platform. According to the Amex, neither order type is currently being used. The text of the proposed rule change is available at *http://www.amex.com,* the principal office of the Amex, and 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 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 III below. The Amex 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 In March 2007, the Commission approved PPI orders as a valid order type on AEMI. 5 According to the Amex, PPI orders were designed to encourage specialists and Registered Traders to provide inbound aggressing orders with increased opportunities for price improvement. PPI orders would provide undisplayed liquidity on the AEMI Book and would react to aggressing orders according to criteria met at the time of order entry. The Amex states that it never implemented PPI orders and, therefore, that PPI orders are not being used currently by Amex market participants. The Amex now proposes to eliminate PPI orders from the AEMI rules. 5 *See* Securities Exchange Act Release No. 55464 (March 13, 2007), 72 FR 13146 (March 20, 2007) (order approving File No. SR-Amex-2007-08). The percentage order is another valid order type under the Amex's AEMI rules that, according to the Amex, is not in use currently. The Amex states that on November 30, 2006, it issued Amex Notice 2006-60, “Disablement of Percentage Orders in AEMI,” which prohibited the entry of percentage orders for securities that had migrated from the Amex's legacy systems onto the AEMI platform. That prohibition, which the Amex originally expected to be temporary, has remained in effect. The Amex notes, further, that percentage orders, which involve discretionary action by the specialist, inherently require the specialist to act in an agency capacity for the order. Because the Amex intends to move toward a specialist model that deemphasizes the broker role, the Amex proposes to eliminate percentage orders from the AEMI rules. The Amex therefore proposes to delete the definitions of percentage order and PPI order from Rule 131-AEMI, “Types of Orders,” and all cross-references to such orders in other AEMI rules. In addition, the Amex proposes to delete from Rule 1A-AEMI, “Applicability, Definitions, References, and Phase-In,” the definitions of Automatic Conversion, Manual Conversion, Active Manual Conversion, and Passive Manual Conversion, all of which relate only to percentage orders. The Amex also proposes to delete the detailed requirements for percentage order conversions in paragraph

(j)of Rule 154-AEMI, “Orders in AEMI.” 2. Statutory Basis The Amex believes that the proposed rule change is consistent with Regulation NMS, 6 as well as Section 6(b) of the Act, 7 in general, and furthers the objectives of Section 6(b)(5) of the Act, 8 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. 6 17 CFR 242.600 *et seq.* 7 15 U.S.C. 78f(b). 8 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The Amex believes that the proposed rule change does not 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 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 The Amex has designated the proposed rule change as one that:

(1)Does not significantly affect the protection of investors or the public interest;

(2)does not impose any significant burden on competition; and

(3)does not become operative for 30 days from the date of filing, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest. Therefore, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 9 and Rule 19b-4(f)(6) thereunder. 10 9 15 U.S.C. 78s(b)(3)(A). 10 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) requires the Amex to provide the Commission with written notice of its intention to file the proposed rule change, along with a brief description of the text of the proposed rule change, at least five business days prior to filing the proposal with the Commission, or such shorter time as designated by the Commission. The Commission has determined to waive the five-day period in this case. The Amex has requested that the Commission waive the 30-day operative delay. The Commission hereby grants the Amex's request. 11 As discussed above, neither percentage orders nor PPI orders are currently in use on AEMI. Accordingly, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because doing so will enable the Amex's rules to immediately reflect the actual operation of AEMI and the order types available on AEMI. 11 For purposes of waiving the 30-day operative delay, the Commission has considered the proposal's impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). 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. 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-Amex-2008-08 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-Amex-2008-08. 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 the Amex. 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 publicly available. All submissions should refer to File Number SR-Amex-2008-08 and should be submitted on or before March 6, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 12 12 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E8-2733 Filed 2-13-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57297; File No. SR-Amex-2008-02] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of Proposed Rule Change Relating to the Listing and Trading of Managed Fund Shares, Fees Applicable to Managed Fund Shares, and the Listing and Trading of Shares of the Bear Stearns Current Yield Fund February 8, 2008. 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 February 7, 2008, 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 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:

(1)Adopt new Amex Rules 1000B, 1001B, 1002B, and 1003B to permit the listing and trading of securities (“Managed Fund Shares”) issued by an actively managed, open-end investment management company;

(2)list and trade the shares (“Shares”) of the Bear Stearns Current Yield Fund (“Fund”), an investment portfolio of the Bear Stearns Active ETF Trust (“Trust”), pursuant to those rules; and

(3)amend its original listing and annual listing fees to include Managed Fund Shares and make certain other changes. The text of the proposed rule change is available at Amex, the Commission's Public Reference Room, and *http://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 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 add new Amex Rules 1000B, 1001B, 1002B, and 1003B to permit the listing and trading of Managed Fund Shares. Pursuant to these new rules, the Exchange proposes to list and trade the Shares. Amex states that the Shares will conform to the initial and continued listing criteria under proposed Amex Rules 1000B, 1001B, and 1002B. The Exchange also proposes to amend its original listing and annual listing fees in Sections 140 and 141 of the Amex *Company Guide* to include Managed Fund Shares and make certain other conforming changes in the Amex rules to incorporate references to the new Amex rules proposed herein. Background—Exchange-Traded Funds In 1993, the Exchange listed the first exchange-traded fund (“ETF”), the SPDR Trust, Series 1 (“SPDRs”). Amex's rules currently permit the listing of ETFs pursuant to Amex Rule 1000-AEMI, Rules 1001 to 1006, Rule 1000A-AEMI, and Rules 1001A to 1005A. Amex Rule 1000-AEMI and Rules 1001 to 1006 allow for the listing and trading on the Exchange of portfolio depositary receipts (“PDRs”), which represent interests in a unit investment trust (“UIT”) registered under the Investment Company Act of 1940 (“1940 Act”) that operates on an open-end basis and holds securities that comprise an underlying index or portfolio. Amex Rule 1000A-AEMI and Rules 1001A to 1005A provide standards for the listing and trading of Index Fund Shares (“IFSs,” and together with PDRs, collectively, “Index ETFs”), which are securities issued by an open-end management investment company (“open-end fund”) based on a portfolio of stocks or fixed income securities or a combination thereof, that seeks to provide investment results that correspond generally to the price and yield or total return performance of a specified foreign or domestic stock index, fixed income securities index, or combination thereof. To qualify for listing, shares of Index ETFs must be issued in a specified aggregate minimum number in return for a deposit of specified securities and/or a cash amount, with a value equal to the next determined net asset value (“NAV”). When aggregated in the same specified minimum number, Index ETF shares must be redeemed by the issuer for the specified securities and/or cash, with a value equal to the next determined NAV. The NAV is calculated once a day after the close of the regular trading day based on the assests held in the Index ETF fund at the close of the previous trading day and the value of those assets at the close of the current trading day. The Exchange notes that Index ETFs are no longer novel products. More than 500 of these products are actively traded on Amex and other national securities exchanges. 3 In 2006, the average daily trading volume for ETFs in the U.S. was in excess of 508 million shares, and as of December 31, 2006, the 376 ETFs then listed on U.S. markets had total assets of $431 billion. 3 The Exchange states that, as of November 30, 2007, there were 629 ETFs listed on U.S. exchanges. The Exchange also notes that, during the past decade, the degree of portfolio management used by Index ETFs has progressed from the strict replication methods followed by the early UIT products, such as SPDRs and DIAMONDS, to the portfolio sampling and optimization methods used by investment company products such as certain iShares and Vanguard ETFs. The portfolio of an Index ETF that uses a sampling strategy may consist of a subset of the component securities in the index rather than replicating the index, with a view to tracking the benchmark index as effectively as possible. 4 Further, Amex states that the underlying indices have evolved over time, with many of the more recently-listed products being based on indices such as the Intellidex indices that are designed to incorporate quantitative strategies, and alternatively-weighted indices, such as the fundamentally-weighted indices of Wisdom Tree. 4 The Exchange states that an Index ETF may also use sampling techniques. For example, if one of the securities in the benchmark index comprises more than 25% of the index, the Index ETF would be restricted from holding the securities in proportion to its representation in the index without running afoul of Subchapter M of the Internal Revenue Code. While Managed Fund Shares will be structured very similarly to Index ETFs, Managed Fund Shares will be managed like traditional actively managed, open-end investment companies (“Managed Mutual Funds”) and will have specified investment goals and objectives. Unlike Index ETFs, those goals and objectives will not involve seeking to replicate, or provide investment results that correspond generally to, the price and yield or total return performance of a specified index. Proposed Listing Rules Proposed new Amex Rules 1000B, 1001B (for initial listing), and 1002B (for continued listing) define and establish listing standards for Managed Fund Shares. Proposed Amex Rule 1000B(b) sets forth the relevant definitions. In particular, proposed Amex Rule 1000B(b)(1) defines “Managed Fund Share” as a security that:

(a)Represents an interest in a registered open-end fund that invests in a portfolio of securities selected by the open-end fund's investment adviser consistent with the open-end fund's investment objectives and policies;

(b)is issued in a specified aggregate minimum number in return for a deposit of a specified portfolio of securities and/or a cash amount with a value equal to the next determined NAV; and

(c)when aggregated in the same specified minimum number, may be redeemed at a holder's request for a specified portfolio of securities and/or cash with a value equal to the next determined NAV. Proposed Amex Rule 1000B(b)(2) defines Disclosed Portfolio as the securities in the open-end fund's portfolio. The term “Portfolio Indicative Value,” set forth in proposed Amex Rule 1000B(b)(3), is defined as the estimated indicative value of a Managed Fund Share based on updated information regarding the value of the securities in the Disclosed Portfolio. Lastly, proposed Amex Rule 1000B(b)(4) defines “Reporting Authority” to mean the Exchange, a subsidiary of the Exchange, or an institution or service designated by the Exchange or its subsidiary as the official source for determining and reporting the information relating to a series of Managed Fund Shares, including, but not limited to, the Portfolio Indicative Value, the Disclosed Portfolio, the amount of any cash distribution to holders of Managed Fund Shares, NAV, or other information relating to the issuance, redemption, or trading of Managed Fund Shares. Proposed Commentaries .01 through .05 to proposed Amex Rule 1000B substantially mirror Commentaries .05, .02(j), .06, .08, and .09 to current Amex Rule 1000A-AEMI, respectively. Specifically, proposed Commentaries .01(a), (b), (c), and

(d)are substantively identical to Commentaries .05(d), (f), (e), and (c), respectively, to Amex Rule 1000A-AEMI. The proposed Commentary provisions relate to minimum price variation, hours of trading, listing fees, and surveillance procedures. In addition, the substance of Commentary .05(a) to Amex Rule 1000A-AEMI is set forth in proposed Amex Rule 1000B(b)(3) in connection with the dissemination of information. Proposed Commentary .02 to Amex Rule 1000B is substantively identical to existing Commentary .02(j) to Amex Rule 1000A-AEMI, which relates to international or global portfolio creations/redemptions. With respect to a Managed Fund Share based on an international or global portfolio, this provision requires that the statutory prospectus or the application for exemption from provisions of the 1940 Act for the series of Managed Fund Shares state that such series will comply with the federal securities laws in accepting securities for deposits and satisfying redemptions with redemption securities, including that the securities accepted for deposits and the securities used to satisfy redemption requests are sold in transactions that would be exempt from registration under the Securities Act of 1933. Proposed Commentary .03 to Amex Rule 1000B is substantively identical to Commentary .06 to Amex Rule 1000A-AEMI in connection with Exchange obligations for those Managed Fund Shares that receive an exemption from certain prospectus delivery requirements under Section 24(d) of the 1940 Act. Proposed Commentary .04 to Amex Rule 1000B, relating to the limitation of entering multiple limit orders by members and member organizations, is also substantively identical to Commentary .09 to Amex Rule 1000A-AEMI. Lastly, proposed Commentary .05 to Amex Rule 1000B relating to “trading ahead” is substantively identical to Commentary .09 to Amex Rule 1000A-AEMI. With respect to the initial listing standards for Managed Fund Shares, proposed Amex Rule 1001B(i) provides that the Exchange will establish a minimum number of shares outstanding at the time of commencement of trading. In addition, proposed Amex Rule 1001B(ii) requires that the Exchange obtain a representation from the issuer of each series of Managed Fund Shares that the NAV per share for the series will be calculated daily and that the NAV and the Disclosed Portfolio will be made available to all market participants at the same time. Proposed Commentary .01 to Amex Rule 1001B specifically provides that each series of Managed Fund Shares, prior to listing and/or trading, is required to submit for Commission review and approval, a proposed rule change pursuant to Section 19(b) of the Act. Accordingly, each series of Managed Fund Shares will require Commission review and approval prior to listing and trading. The proposed continued listing criteria set forth in proposed Amex Rule 1002B(iii) provides for the delisting of the Shares under any of the following circumstances: • If, following the initial twelve-month period after commencement of trading on the Exchange of a series of Managed Fund Shares, there are fewer than 50 beneficial holders of the series of the Managed Fund Shares for 30 or more consecutive trading days; • If the value of the Portfolio Indicative Value is no longer calculated or available, or the Disclosed Portfolio is not made available to all market participants at the same time; • If the Trust has not filed, on a timely basis, any required filings with the Commission, or if the Exchange becomes aware that the Trust is not in compliance with the conditions of any exemptive order or no-action relief granted by the Commission to or otherwise applicable to the Trust; or • If such other event shall occur or condition exists which, in the opinion of the Exchange, makes further dealings of the Managed Fund Shares on the Exchange inadvisable. Proposed Amex Rule 1002B also sets forth the continued listing criteria relating to the Portfolio Indicative Value and the Disclosed Portfolio. Specifically, proposed Amex Rule 1002B(i) requires that the Portfolio Indicative Value for a Managed Fund Share be widely disseminated by one or more major market data vendors at least every 15 seconds during the time the Managed Fund Shares are traded on the Exchange. Proposed Amex Rule 1002B(ii)(a) provides that the Disclosed Portfolio be disseminated at least once daily to all market participants at the same time. Further, proposed Amex Rule 1002B(ii)(b) requires that the Reporting Authority for the Disclosed Portfolio implement and maintain, or be subject to, “firewall” procedures designed to prevent the use and dissemination of material, non-public information regarding the actual components of the Disclosed Portfolio. Pursuant to proposed Amex Rule 1002B(iv), the Exchange will halt trading under the following circumstances: • If the circuit breaker parameters of Amex Rule 117 have been reached, the Exchange will halt trading in a series of Managed Fund Shares. • If the Portfolio Indicative Value of the Managed Fund Shares is not being disseminated as required, the Exchange may halt trading during the day in which the interruption to the dissemination of the Portfolio Indicative Value occurs. If the interruption to the dissemination of the Portfolio Indicative Value persists past the trading day in which it occurred, the Exchange will halt trading no later than the beginning of the trading day following the interruption. • If a series of Managed Fund Shares is trading on the Exchange pursuant to unlisted trading privileges, the Exchange will halt trading in that series if the primary listing market halts trading in that series of Managed Fund Shares because the Portfolio Indicative Value applicable to that series of Managed Fund Shares is not being disseminated as required. • If the Exchange becomes aware that the NAV or Disclosed Portfolio related to a series of Managed Fund Shares is not being disseminated to all market participants at the same time, the Exchange will halt trading in such Managed Fund Shares. The Exchange may resume trading in the Managed Fund Shares only when the NAV or Disclosed Portfolio is disseminated to all market participants at the same time. • Finally, in exercising its discretion to halt or suspend trading in Managed Fund Shares, the Exchange may consider factors such as those set forth in Amex Rule 918C(b), in addition to other factors that may be relevant. Proposed Amex Rule 1003B would limit Exchange liability in connection with potential claims, damages, losses, or expenses regarding a Managed Fund Share. The Exchange states that proposed Amex Rule 1003B is substantially similar to current Amex Rule 1003A. Original and Annual Listing Fees The Exchange seeks to amend its rules relating to listing fees to include Managed Fund Shares. As proposed, Amex's original listing fee applicable to the listing of series of Managed Fund Shares will be $5,000, but may be deferred, waived, or rebated upon transfer to Amex from another marketplace. In addition, the annual listing fee applicable under Section 141 of the Amex *Company Guide* will be based upon the year-end aggregate number of Shares outstanding at the end of each calendar year. In connection with Section 140 of the *Company Guide* , the Exchange proposes to make a technical revision so that “Trust Units” are also included among the types of securities whose initial listing fees may be deferred, waived, or rebated upon transfer to Amex from another marketplace. Key Features of Managed Fund Shares *Registered Investment Company* . A Managed Fund Share means a security that represents an interest in an investment company registered under the 1940 Act organized as an open-end investment company or similar entity that invests in a portfolio of securities selected by its investment adviser consistent with its investment objectives and policies. In contrast, the open-end investment company that issues IFSs seeks to provide investment results that correspond generally to the price and yield performance of a specific foreign or domestic stock index, fixed income securities index, or combination thereof. *1940 Act Exemptive Relief* . The 1940 Act contemplates two categories of investment companies: those which issue redeemable securities, *i.e.* , open-end investment companies; and those which do not, *i.e.* , closed-end investment companies. Index ETF shares are redeemable, but only in large blocks of shares (not individually), so it is not certain whether they are considered redeemable under the 1940 Act. Because Index ETFs do not fit neatly into either the open-end category or the closed-end category, Index ETFs have had to seek exemptive relief from the Commission to be registered as an open-end investment company. Managed Fund Shares share key structural features with Index ETFs, such as creation and redemption in large blocks of shares being the most important one, that result in the need for exemptive relief, and therefore, Managed Fund Shares will require relief from the same provisions of the 1940 Act. 5 5 Bear Stearns Asset Management, Inc. and the Trust have requested exemptions from various provisions of the 1940 Act. *Intraday Trading* . Like Index ETFs, Managed Fund Shares will be listed and traded on a national securities exchange and, therefore, will be available for sale and purchase on an intraday basis, like other listed securities. In contrast, shares of Managed Mutual Funds may only be purchased and sold (issued and redeemed) in direct transactions with the fund, once each day. *Creations and Redemptions of Shares* . Managed Fund Shares will be issued and redeemed on a daily basis at NAV, as with Index ETFs. And like Index ETFs, creations and redemptions for Managed Fund Shares must be in large specified blocks of shares called “Creation Units.” Purchases and sales of shares in amounts smaller than the number of shares required for a Creation Unit may be effected only in the secondary market and not directly with the fund. Managed Fund Shares are only redeemable in Creation Units, and only “Authorized Participants” may purchase or redeem Managed Fund Shares directly from the fund. 6 Retail investors will not qualify to be Authorized Participants and typically would not have the resources to buy and sell Creation Units. Therefore, they will be unable to purchase or redeem Managed Fund Shares directly from the fund. Rather, retail investors will purchase Managed Fund Shares in the secondary market with the assistance of a broker and will be subject to customary brokerage commissions or fees. 6 “Authorized Participant” is a participant in the Depository Trust Company, which has signed a “Participant Agreement” with the distributor for the Fund, ALPS Distributors, Inc. Managed Fund Shares may use one or more of the following three approaches to creations and redemptions:

(1)“In kind” creation and redemption using a Portfolio Deposit that reflects the composition of the fund;

(2)cash creation and redemption; or

(3)“in kind” creation and redemption using a Portfolio Deposit consisting of securities that do not reflect the composition of the fund, but instead investments in other securities including, for example, specified Index ETFs. 7 7 For most Index ETFs, the creation and redemption process is effected “in kind.” Creation “in kind” typically means that the investor—usually a brokerage house or large institutional investor—purchases the Creation Unit with a “Portfolio Deposit” equal in value to the aggregate NAV of the shares in the Creation Unit. The Portfolio Deposit generally consists of a basket of securities that reflects the composition of the Index ETF's portfolio. Similarly, an investor redeeming shares in the Index ETF receives in exchange for shares in the Index ETF the securities in the “Redemption Basket,” which is usually the same as the Portfolio Deposit and consists of securities that reflect the composition of the Index ETF's portfolio. The Portfolio Deposit often includes a small cash component to make the value of the deposit or basket exactly equal to the aggregate NAV. Most Index ETFs also permit cash creations and redemptions under specified and limited circumstances. *Portfolio Disclosure* . One common feature of Index ETFs is disclosure of the contents of the Portfolio Deposit on a daily basis. The components of the Portfolio Deposit reflect, but are not necessarily identical to, the components of the underlying benchmark index on which the Index ETF is based. Aside from providing the information required for daily creations and redemptions, the Portfolio Deposit gives market participants a basis for estimating the intraday value of the fund, and thus, providing a basis for the arbitrage that keeps the market price of Index ETFs generally in line with the NAV of the Index ETF. While Managed Fund Shares may use an in-kind or cash creation and redemption mechanism, as noted above, each series of Managed Fund Shares will disclose daily all of the portfolio securities ( *i.e.* , Disclosed Portfolio) of the fund. *Indicative Value Disclosure* . In order to provide updated information relating to each Index ETF listed on the Exchange for use by investors, professionals and persons wishing to create or redeem shares in Index ETFs, the Exchange disseminates at least every 15 seconds throughout the trading day a calculation of the estimated NAV of a share of an Index ETF, commonly known as the Intraday Indicative Value or “IIV,” as calculated by a third party calculator. Similarly, for each series of Managed Fund Shares, an estimated value, defined in the proposed rules as the “Portfolio Indicative Value,” that reflects an estimated intraday value of the fund portfolio will be disseminated at least every 15 seconds. This Portfolio Indicative Value will be based upon the current value for the components of the Disclosed Portfolio. The dissemination of the Portfolio Indicative Value, together with the Disclosed Portfolio, will allow investors to determine the value of the underlying portfolio of a series of Managed Fund Shares on a daily basis and provide a close estimate of that value throughout the trading day. Description of the Fund The Fund, an exchange-traded fund, is the sole investment portfolio of the Trust. The Trust is organized as a Delaware statutory trust and is an open-end fund registered under the 1940 Act. 8 The investment objective of the Fund is to seek as high a level of current income as is consistent with the preservation of capital and liquidity. The Fund will be actively managed by its portfolio manager, who will have discretion to choose securities for the Fund's portfolio consistent with the Fund's investment objective. 9 The Fund's portfolio manager seeks to attain the Fund's objective by investing primarily in short-term debt obligations, including U.S. government securities, bank obligations, corporate debt obligations, mortgage-backed and asset-backed securities, municipal obligations, foreign bank obligations (U.S. dollar denominated), foreign corporate debt obligations (U.S. dollar denominated), repurchase agreements, and reverse repurchase agreements. 8 The Exchange states that the Fund is not a “money market fund” and is not subject to certain rules and regulations under the 1940 Act governing money market funds. 9 The Exchange states that the Fund's investment objective may be changed without shareholder approval upon 30 days' written notice to shareholders. The Exchange proposes to list and trade the Fund Shares pursuant to proposed Amex Rules 1000B, 1001B, and 1002B. Amex represents that the Shares will conform to the initial and continued listing criteria under such proposed rules. 10 10 The Exchange represents that, for initial and/or continued listing, the Shares must also be in compliance with Section 803 of the Amex *Company Guide* and Rule 10A-3 under the Act (17 CFR 240.10A-3). The Registration Statement, including the Prospectus and Statement of Additional Information (“SAI”), provides a detailed description of the Fund including, but not limited to, the structure of the Fund, cash-only creation and redemption processes, investment objective and policies, characteristics, tax status, and distributions. 11 11 *See* the Trust's Form N-1A/A filed with the Commission on August 6, 2007 (File Nos. 333-141421 and 811-22038). Availability of Information Regarding the Fund and the Shares The daily NAV for the Fund will be calculated and disseminated publicly each Business Day 12 to all market participants at the same time. In addition, prior to the opening each Business Day, the Fund will make publicly available on its Web site the Disclosed Portfolio, which is the file of all the portfolio securities held by the Fund and the quantities thereof, including, as applicable, the specific types and amounts of short-term debt securities and the amount of cash held in the portfolio of the Fund, as of the close of business on the prior Business Day, reflecting all securities bought and sold on such prior Business Day. 13 This information will be available to all investors and market participants at the same time and will form the basis for the Fund's calculation of NAV as of the close of regular trading on the Exchange (ordinarily 4 p.m. Eastern Time). 12 “Business Day” is defined as a day in which the Trust will sell and redeem Creation Units of the Fund. 13 The Exchange states that the Trust will comply with its obligations to disclose in its SAI its policies and procedures with respect to the Disclosed Portfolio and state in its Prospectus that a description of the Fund's policies and procedures is available in the SAI. *See* Investment Company Act Release No. 26418 (April 16, 2004), 69 FR 22300 (April 23, 2004). Amex will disseminate at least every 15 seconds during regular Amex trading hours, through the facilities of the Consolidated Tape Association (“CTA”), the Portfolio Indicative Value. An independent pricing service will calculate the Portfolio Indicative Value during the hours of trading on the Exchange by dividing the “Estimated Fund Value” as of the time of the calculation by the total Shares outstanding. “Estimated Fund Value” is the sum of the estimated amount of cash held in the Fund's portfolio, the estimated value of the securities held in the Fund's portfolio, and the estimated amount of accrued interest, minus the estimated amount of liabilities. 14 14 The Exchange states that the methodology used to calculate the Portfolio Indicative Value for the Fund is similar to those used by some existing ETFs listed on the Exchange that track fixed-income securities indices, as well as numerous fixed-income mutual funds. The Web site for the Fund will display the Prospectus, the SAI, and additional quantitative information that is updated on a daily basis, including, among other things, the following information, on a per-Share basis:

(a)The prior Business Day's NAV, the reported mid-point of the bid-ask spread at the time of NAV calculation (“Bid-Ask Price”), and a calculation of the premium or discount of the Bid-Ask Price against such NAV; and

(b)data in chart format displaying the frequency distribution of discounts and premiums of the Bid-Ask Price against the NAV, within appropriate ranges, for each of the four previous calendar quarters. Amex also intends to disseminate a variety of data with respect to the Shares on a daily basis, by means of CTA and Consolidated Quotation High Speed Lines, including quotation and last sale data, information of the previous day's close with respect to NAV, and the number of Shares outstanding. In addition, as with other ETFs, information regarding secondary market prices and volume of the Shares will be broadly available in real-time throughout the trading day. Arbitrage The Exchange believes that the Shares will not trade at a material discount or premium to the value of the assets held by the Trust based on potential arbitrage opportunities. Due to the fact that the Shares can be created and redeemed only in Creation Units at NAV, 15 the Exchange submits that arbitrage opportunities should provide a mechanism to mitigate the effect of any premiums or discounts that may exist from time to time. Given that the creation and redemption process of the Trust and its Fund is substantially similar to that of Index ETFs, the Exchange believes that market professionals will have the ability to arbitrage Shares of the Fund in a manner similar to Index ETFs. The availability of the Disclosed Portfolio and the Portfolio Indicative Value and other pricing information about portfolio holdings will permit arbitrageurs to identify when the market price of the Shares is higher or lower than the value of the portfolio. As a result, these market professionals will buy Shares when they are priced lower than the portfolio and sell Shares when they are priced higher than the portfolio, thereby moving prices back in line with the value of the portfolio. Actual and potential arbitrage of this nature should help the secondary market prices of the Shares to remain close to NAV. 15 The Exchange states that creations and redemptions of the Shares will be in cash only. Trading Rules The Shares are equity securities subject to Amex rules governing the trading of equity securities, including, among others, rules governing priority, parity, and precedence of orders, specialist responsibilities, account opening, and customer suitability (Amex Rule 411). Trading rules pertaining to odd-lot trading in Amex equities (Amex Rule 205-AEMI) will also apply. Specialist transactions of the Shares made in connection with the creation and redemption of Shares will not be subject to the prohibitions of Rule 190. 16 16 Commentary .04 to Amex rule 190 states that nothing in Rule 190(a) should be construed to restrcit a specialist registered in a security issued by an investment company from purchasing and redeeming the listed security, or securities that can be subdivided or converted into the listed security, from the issuer as appropriate to facilitate the maintenance of a fair and orderly market. *See* Commentary .04 to Amex Rule 190. Amex notes that the Amex Rule 154-AEMI(c)(ii) (“Election by Quotation of Stop and Stop Limit Orders”) and Amex Rule 126A-AEMI (“Protected Bids and Offers of Away Markets”) will apply to the trading of the Shares. In addition, Exchange members and member organizations will be subject to proposed Commentary .04 to Amex Rule 1000B prohibiting such member or member organizations from entering into the Exchange's order routing system multiple limit orders as agent ( *i.e.* , customer agency orders). Further, proposed Commentary .05 to Rule 1000B provides that it may be considered inconsistent with just and equitable principles of trade for a member or person associated with a member to “trade ahead” of a related customer order in Managed Fund Shares based on material, non-public information obtained from such customer order. Information Circular The Exchange will distribute an Information Circular to Exchange members and member organizations prior to the commencement of trading of the Shares that describes the prospectus delivery requirements and, as relevant, the application of proposed Commentary .03 to Amex Rule 1000B. The Exchange notes that investors purchasing Shares directly from the Fund by delivery of a Creation Unit will receive a Prospectus. In addition, the Information Circular will inform Exchange members and member organizations that procedures for purchases and redemptions of Shares in Creation Units are described in the Fund's Prospectus and SAI, and that Shares are not individually redeemable, but are redeemable only in Creation Units or multiples thereof. The Exchange will also inform members and member organizations of the characteristics of the Fund and the Shares and of applicable Exchange rules, as well as of the suitability requirements of Amex Rule 411 (Duty to Know and Approve Customers). 17 17 The Exchange notes that pursuant to Amex Rule 411, members and member organizations are required in connection with recommending transactions in the Shares to have a reasonable basis to believe that a customer is suitable for the particular investment given reasonable inquiry concerning the customer's investment objectives, financial situation, needs, and any other information known by such member. *See* Amex Rule 411. Surveillance The Exchange represents that its surveillance procedures are adequate to properly monitor the trading of the Shares. Specifically, Amex will rely on its existing surveillance procedures governing IFSs. In addition, the Exchange also has a general policy prohibiting the distribution of material, non-public information by its employees. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act, 18 in general, and furthers the objectives of Section 6(b)(5) of the Act, 19 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, and to remove impediments to and perfect the mechanism of a free and open market and a national market system. Specifically, the Exchange believes that the ability to list and trade an actively managed ETF pursuant to the rules proposed herein is consistent with Section 6(b) of the Act, and furthers the objectives of Section 6(b)(5) of the Act by promoting and facilitating transactions in securities while at the same time protecting investors and the public interest. The Exchange further believes that offering investors additional investment alternatives helps to promote competition between similar product classes, thereby benefiting the markets and investors. 18 15 U.S.C. 78f(b). 19 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange believes the proposed rule change will impose no 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 states that 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 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 Amex 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 Number SR-Amex-2008-02 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-Amex-2008-02. 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-Amex-2008-02 and should be submitted on or before March 6, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 20 20 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E8-2734 Filed 2-13-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57293; File No. SR-CBOE-2008-12] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Temporary Membership Status Access Fee February 8, 2008. 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 January 31, 2008, the Chicago Board Options Exchange, Incorporated (“CBOE” 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 prepared substantially by the Exchange. CBOE has designated this proposal as one establishing or changing a due, fee, or other charge imposed by the Exchange under section 19(b)(3)(A), 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). 4 17 CFR 240.19b-4(f)(2). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change CBOE proposes to adopt a monthly access fee for persons granted temporary CBOE membership status pursuant to Interpretation and Policy .02 under CBOE Rule 3.19 (“Rule 3.19.02”). The text of the proposed rule change is provided below. Additions are indicated by *italics,* and deletions are [bracketed]. Chicago Board Options Exchange, Incorporated Fees Schedule February 1, 2008 [January 1, 2008] 1.—21. Unchanged. 22. TEMPORARY MEMBERSHIP STATUS ACCESS FEE *$7,354* [4,700] per month.* * This access fee is assessed to each person granted temporary CBOE membership status under CBOE Rule *3.19.02* [3.19.01]. The access fee is due and payable for each calendar month on the first day of that calendar month. The first month for which the access fee will be assessed is *February 2008* [September 2007]. The access fee is non-refundable [except as specified below]. The access fee and any other applicable monthly fees will be assessed for a calendar month unless the person provides written notice to the Membership Department [at least five business days] prior to the start of that month that the person is relinquishing temporary membership status effective on a date prior to the start of that month. The access fee will be assessed through the integrated billing system. [The access fee will terminate when the SEC takes final action on SR-CBOE-2006-106. All access fees shall be payable to and held in an interest-bearing escrow account maintained by the Exchange until the SEC takes such final action. The Exchange will retain such fees if the SEC approves SR-CBOE-2006-106, and such fees will be returned to the payor, with interest, if the SEC disapproves SR-CBOE-2006-106.] Remainder of Fee Schedule: Unchanged. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, CBOE included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposal. The text of these statements may be examined at the places specified in Item IV below. 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 Rule 3.19.02 became operative on January 15, 2008 5 upon the approval by the Commission of CBOE rule filing SR-CBOE-2006-106. 6 At that time, the temporary CBOE membership status (“Temporary Membership”) provided to certain former exerciser members of CBOE (“Temporary Members”) pursuant to Interpretation and Policy .01 under CBOE Rule 3.19 (“Rule 3.19.01”) expired 7 and Rule 3.19.02 granted continued Temporary Membership status to those persons under Rule 3.19.02. 8 5 Rule 3.19.02 was adopted in CBOE rule filing SR-CBOE-2007-107. Although SR-CBOE-2007-107 became effective upon filing pursuant to Section 19(b)(3)(A)(i) of the Act, 15 U.S.C. 78s(b)(3)(A)(i), on September 10, 2007 when SR-CBOE-2007-107 was submitted to the Commission, SR-CBOE-2007-107 provided that it would not become operative unless and until the Commission approved CBOE rule filing SR-CBOE-2006-106. *See* Securities Exchange Act Release No. 56458 (September 18, 2007), 72 FR 54309 (September 24, 2007) (SR-CBOE-2007-107). 6 In SR-CBOE-2006-106, CBOE proposed an interpretation of Article Fifth(b) of the CBOE Certificate of Incorporation (“Article Fifth(b)”) to address the impact of the then-proposed acquisition of The Board of Trade of the City of Chicago, Inc. (“CBOT”) by Chicago Mercantile Exchange Holdings Inc. (“CME/CBOT Transaction”) on the eligibility of persons who were members of CBOE (“exerciser members”) pursuant to Article Fifth(b). Under that interpretation, the consummation of the CME/CBOT Transaction on July 12, 2007 resulted in no person any longer qualifying as a member of the CBOT within the meaning of Article Fifth(b) and therefore resulted in the elimination of any person's eligibility thereafter to become or remain an exerciser member of CBOE. The Commission approved SR-CBOE-2006-106 on January 15, 2008. *See* Securities Exchange Act Release No. 57159 (January 15, 2008), 73 FR 3769 (January 22, 2008) (SR-CBOE-2006-106). 7 Rule 3.19.01 granted temporary CBOE membership status to Temporary Members from the date of the consummation of the CME/CBOT Transaction on July 12, 2007 until the Commission took final action on SR-CBOE-2006-106 on January 15, 2008. *See* Securities Exchange Act Release No. 56016 (July 5, 2007), 72 FR 38106 (July 12, 2007) (SR-CBOE-2007-77). 8 Rule 3.19.02 extended the Temporary Membership status provided to each Temporary Member under Rule 3.19.01 until the earlier of

(i)the voluntary termination of that Temporary Membership status by the Temporary Member,

(ii)the approval by the Commission of a further proposed rule change that provides for the termination of that status and the granting of trading permits or another form of trading access to Temporary Members, or

(iii)the consummation of a transaction pursuant to which either CBOE is converted into a stock corporation or memberships in CBOE are converted into stock. Specifically, Rule 3.19.02 provides that a Temporary Member shall continue in the Temporary Membership status previously granted under Rule 3.19.01 following the Commission's approval of SR-CBOE-2006-106 as long as the person:

(i)Did not previously terminate that Temporary Membership status and remained in good standing as of the close of business on the trading day immediately before the date of approval of SR-CBOE-2006-106 ( *i.e.* , January 14, 2008);

(ii)thereafter remains in good standing and continues to pay all applicable fees, dues, assessments, and other like charges that are assessed against CBOE members; and

(iii)pays CBOE a monthly access fee set by CBOE, which shall be due and payable in accordance with the provisions of the CBOE Fee Schedule. Unlike the access fee under Rule 3.19.01, the proposed access fee to be charged under Rule 3.19.02 is to be paid directly to the Exchange and will not be escrowed. In CBOE rule filing SR-CBOE-2007-107, 9 which adopted Rule 3.19.02, the Exchange stated that it was going to submit a subsequent rule filing pursuant to section 19(b)(3)(A)(ii) of the Act 10 to specify the access fee to be charged under Rule 3.19.02. The Exchange also indicated in SR-CBOE-2007-107 that the access fee would be an amount reasonably related to the current lease market rate for transferable CBOE memberships. 11 The purpose of this rule filing is to specify that access fee. 9 *See* Securities Exchange Act Release No. 56458 (September 18, 2007), 72 FR 54309 (September 24, 2007) (SR-CBOE-2007-107). 10 15 U.S.C. 78s(b)(3)(A)(ii). 11 *See* Securities Exchange Act Release No. 56458 (September 18, 2007), 72 FR 54309 (September 24, 2007) (SR-CBOE-2007-107). For the reasons described below, the Exchange proposes to set the access fee under Rule 3.19.02 at $7,354 per month. CBOE clearing firms are currently involved in facilitating most transferable membership leases by assisting in bringing together CBOE lessors and CBOE trading members for whom these clearing firms provide clearing services. Most transferable membership leases currently have floating monthly rates. In most of these cases, the floating monthly rate is the rate designated by the clearing firm for the floating rate leases that the clearing firm assisted in facilitating and is based on a percentage of the average of the last three transferable membership sale amounts. 12 12 As used herein, the term “Clearing Firm Floating Monthly Rate” means the floating monthly rate that a clearing firm designates, in connection with transferable membership leases that the clearing firm assisted in facilitating, for leases that utilize that floating monthly rate. In light of the foregoing, the Exchange used the following process to set the proposed access fee. The Exchange polled each of the clearing firms that assists in facilitating at least 10% of the transferable membership leases and obtained the Clearing Firm Floating Monthly Rate designated by each of these clearing firms for the month of February, 2008. The Exchange then set the proposed access fee at an amount equal to the highest of these Clearing Firm Floating Monthly Rates. The Exchange used the highest of these amounts (instead of, for example, an average of these amounts) because otherwise the Exchange would be undercutting the lease rates of a large number of transferable membership leases. Because the clearing firms that facilitate at least 10% of the transferable membership leases facilitate in total over 80% of the transferable membership leases and because the proposed access fee is representative of the lease rate for a significant number of the transferable membership leases, the Exchange believes that the proposed access fee is reasonably related to the current lease market rate for transferable memberships consistent with SR-CBOE-2007-107. 13 13 As reflected in SR-CBOE-2007-107, the Exchange believes that the proposed access fee for Temporary Members under Rule 3.19.02 constitutes an equitable allocation of reasonable dues, fees, and other charges among persons using its facilities. The proposed fee is equivalent to the lease rate paid by a large percentage of lessees of transferable CBOE memberships. Accordingly, the proposed access fee eliminates the previous disparity that existed under Rule 3.19.01 between the access fee charged by the Exchange to Temporary Members (which was based upon a lease rate paid on CBOT by lessees of what CBOT denominates as a full CBOT membership) and the lease rates paid on CBOE by lessees of transferable memberships (which generally were significantly higher than the previous Temporary Member access fee). Because Temporary Members' access to the Exchange is terminable only under limited circumstances, while the Exchange access of lessees of transferable memberships is terminable by lessors, the Exchange believes that it would be equitable to assess Temporary Members an access fee higher than the current lease market rate for transferable memberships. However, at the present time, the Exchange is only seeking to eliminate the current disparity, as the Exchange committed to do in SR-CBOE-2007-107. *See* Email from Arthur B. Reinstein, Deputy General Counsel, CBOE, to Richard Holley III, Senior Special Counsel, Division of Trading and Markets, Commission, dated February 8, 2008 (adding the preceding text to footnote 13). The first month for which the access fee will be assessed is February, 2008. Temporary Members already paid an access fee under Rule 3.19.01 for the month of January, 2008 that was held in escrow pending Commission action on SR-CBOE-2006-106 and was then retained by the Exchange upon the approval of SR-CBOE-2006-106 in accordance with the provisions of Rule 3.19.01. Because this access fee for the month of January, 2008 under Rule 3.19.01 is non-refundable, the Exchange is commencing assessment of the proposed access fee under Rule 3.19.02 starting with the month of February, 2008 in the interest of fairness so that Temporary Members are not charged two access fees for the same month. The proposed access fee will remain in effect until such time that the Exchange submits a further rule filing pursuant to section 19(b)(3)(A)(ii) of the Act 14 to modify the access fee or the Temporary Membership status under Rule 3.19.02 is terminated. Accordingly, the Exchange will retain the flexibility to adjust the proposed access fee in the future if the Exchange determines that it would be appropriate to do so taking into consideration lease rates for transferable CBOE memberships prevailing at that time. 14 15 U.S.C. 78s(b)(3)(A)(ii). With two exceptions, the provisions of the CBOE Fee Schedule related to the assessment of the proposed access fee under Rule 3.19.02 are the same as the provisions related to the assessment of the access fee under Rule 3.19.01. Thus, like with the access fee under Rule 3.19.01:

(i)The proposed access fee under Rule 3.19.02 will be due and payable each calendar month on the first day of the calendar month;

(ii)the proposed access fee will be non-refundable; and

(iii)the proposed access fee will be assessed through the integrated billing system. The two differences between the provisions of the CBOE Fee Schedule related to the assessment of the proposed access fee under Rule 3.19.02 and the provisions related to the assessment of the access fee under Rule 3.19.01 are:

(i)The provisions related to the escrowing of the access fees that were collected under Rule 3.19.01 have been removed and

(ii)the proposed access fee and any other applicable monthly fees will now be assessed for a calendar month unless the Temporary Member provides written notice to the Membership Department prior to the start of that month (instead of five business days prior to the start of that month as was previously the case) that the Temporary Member is relinquishing Temporary Membership status effective on a date prior to the start of that month. With respect to the second change, the Exchange has found in this context that it presently does not need the additional lead time to process these relinquishments of Temporary Membership status. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with section 6(b) of the Act, 15 in general, and furthers the objectives of section 6(b)(4) of the Act, 16 in particular, in that it is designed to provide for the equitable allocation of reasonable dues, fees, and other charges among persons using its facilities. 15 15 U.S.C. 78f(b). 16 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 the 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 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 17 and subparagraph (f)(2) of Rule 19b-4 18 thereunder. 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. 17 15 U.S.C. 78s(b)(3)(A). 18 17 CFR 240.19b-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-2008-12 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-2008-12. 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 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-CBOE-2008-12 and should be submitted on or before March 6, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 19 19 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E8-2696 Filed 2-13-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57295; File No. SR-NYSE-2008-11] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rules 13 and 124 To Remove Certain Manual Order Types February 8, 2008. Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (the “Act”) 1 and Rule 19b-4 thereunder, 2 notice is hereby given that on January 31, 2007, New York Stock Exchange LLC (“NYSE” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been prepared substantially by NYSE. NYSE filed the proposed rule change as a “non-controversial” proposed rule change pursuant to section 19(b)(3)(A) of the Act 3 and Rule 19b-4(f)(6) thereunder, 4 which renders it effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 5 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change NYSE proposes to amend to amend Rules 13 and 124 to remove certain manual order types. 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, NYSE 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. NYSE has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose NYSE seeks to amend Rules 13 and 124 to remove certain manual order types that are no longer compatible in today's electronic market. These order types are defined in Rule 13 ( *i.e.* , the “Alternative Order—Either/Or Order”, “Orders Good Until a Specified Time”, “Scale Order” and “Switch Order—Contingent Order”) and Rule 124 ( *i.e.* , the “Limited Order, With or Without Sale” and “Basis Price Order”). The Exchange also seeks to make conforming changes to the enumeration of the Supplementary Material of Rule 124 based on the elimination of the text related to the Basis Price Order. Hybrid Market Trading Environment The Hybrid Market rules were implemented in a series of phases beginning with a pilot on December 14, 2005 through February 27, 2007. 5 During the implementation process, the Exchange continually reviewed the operation of the Hybrid Market and changes in the behavior of market participants resulting from the new rules in order to assess whether the rules resulted in operations as envisioned by the Hybrid Market initiative. As a result of this continual review, NYSE amended certain rules to better accomplish the goals intended with the creation of the Hybrid Market. 6 5 *See* Securities Exchange Act Release No. 53539 (March 22, 2006), 71 FR 16353 (March 31, 2006) (SR-NYSE-2004-05) (establishing the Hybrid Market). 6 *See, e.g.* , Securities and Exchange Act Release Nos. 54820 (November 27, 2006), 71 FR 70824 (December 6, 2006) (SR-NYSE-2006-65) (amendment to clarify certain definitions and systematic processing of certain orders in the Hybrid Market); 55316 (February 20, 2007), 72 FR 8825 (February 27, 2007) (SR-NYSE-2007-14) (amendment of Exchange Rule 70.30 to change the concept of a Crowd from being “specific areas on the Floor where Floor brokers are generally able to see and hear the business” conducted at each post/panel to “specific identifiable areas where Floor brokers are able to conduct business at each post/panel within the Crowd”); 54427 (September 12, 2006), 71 FR 54862 (September 19, 2006) (SR-NYSE-2006-58) (amendment of Exchange Rule 70.30 to change the concept of a Crowd as “any five contiguous panels” to “specific identifiable areas on the Floor where Floor brokers are generally able to see and hear the business conducted at each post/panel within the Crowd”); 54086 (June 30, 2006), 71 FR 38953 (July 10, 2006) (SR-NYSE-2006-24) (amendment to Exchange Rule 104(d)(i) to conform the minimum display requirements for reserve interest for specialists and Floor brokers such that specialists, like Floor brokers, only be required to provide at least 1,000 shares displayed interest at the bid and offer in order to have reserve interest on that side of the quote). In the current more electronic Hybrid Market, orders received by Exchange systems that are marketable upon entry are eligible to be immediately and automatically executed by Exchange systems. The Exchange believes that, in this current environment, order types that require manual intervention pose significant impediments to the efficient functioning of the Hybrid Market. As such, the Exchange seeks to eliminate the order types described below. Description of Manual Order Types An Alternative Order—Either/Or Order allows a customer to submit two separate orders simultaneously for the same security. For example, an order may be entered to sell

(buy)XYZ at a limit price or sell

(buy)on stop. If the order is for one unit of trading (generally 100 shares), when one of the designated alternative orders is executed ( *i.e.* , the sale of the security at its limit price), then the other alternative ( *i.e.* , the sale of a security on a stop) is cancelled. Pursuant to Rule 13, where the order is for more than one unit of trading, the number of units executed determines the amount of the alternative order to be treated as cancelled. Therefore, if the order was to sell

(buy)300 XYZ at a limit price or sell

(buy)300 shares on stop and only 200 shares of XYZ were executed at the limit price, then only 200 shares of the sell stop order would be cancelled. Orders Good Until a Specified Time are market or limited price offers which are to be represented in the Trading Crowd until a specified time, after which time such orders or the portion thereof not executed are to be treated as cancelled. A Scale Order is an order to buy

(sell)a security which specifies the total amount to be bought

(sold)at specified price variations. A Switch Order-Contingent Order is an order for the purchase

(sale)of one security and the sale (purchase) of another security at a stipulated price difference. The Limited Order, With or Without Sale, is a type of odd-lot order that may be filled on an effective round-lot transaction or an effective bid (when the price of a limit order to sell is at or above the Exchange's best bid) or offer (when a limit order to buy is at or below the Exchange best offer), whichever occurs first after receipt of the order by Exchange systems. The Basis Price Order is a type of odd-lot order that may be filled at a specified “Basis Price” 7 provided that the Basis Price has been established and approved by a Floor Official, the order is marked “On Basis” and was received at least a half hour before the close of the market. Basis Prices are established by the specialist where there has been no round-lot sale in the subject security during the trading session, the spread between the closing bid and offer prices is two points or more and the specialist has been given an On Basis order. The Basis Price must be reviewed and approved by a Floor Official. A Basis Price order to sell is filled at the Basis Price plus any differential, 8 and a Basis Price order to buy is filled at the Basis Price minus any differential. 7 *See* Exchange Rule 124.10 (explaining how Basis Prices are established). 8 A “differential” is a stated charge (historically 1/8 of a point) per share of odd-lots executed by the odd-lot dealer. The differential is a legacy of a time when the Exchange had odd-lot dealers who were solely responsible for the execution of odd-lots on the Exchange. Proposed Elimination of the Manual Order Types The Exchange proposes to eliminate the above-described orders as acceptable order types by Exchange systems. The manual order types described above are remnants of a time when the Exchange functioned completely as a manual auction market. Each of the aforementioned order types cannot be processed electronically. Today, when one of these orders is submitted to the Exchange, it is printed on paper for manual processing on the Floor. As a result of the current speed of order execution in the Hybrid Market, orders that are printed to paper for manual execution run the very real risk of “missing the market.” In addition, the inefficiency of these order types is made obvious by the fact that they are infrequently used by market participants. A review of the different types of orders received by the Exchange during the week of September 17, 2007 through September 21, 2007 revealed that none of these orders were utilized by market participants. Inherent in most of these order types are specific trading strategies whose desired effect can be replicated by means of electronic trading. For example, the desired result of a Scale Order may be achieved by the use of the Floor broker agency interest (“e-Quote”) at specified price points. Member organizations may achieve the desired outcome of a Switch Order-Contingent Order by combining orders with instructions for automatic execution. The Exchange believes that the elimination of these order types will further the protection of investors since the manual handling of the trading strategies inherent to these order types places its customers at risk of missing the market or inferior price executions. The use of current electronic functionality available in the Hybrid Market will provide Exchange customers with better execution opportunities. The Exchange states that its commitment to provide its market participants with the ability to have their orders executed in the most efficient manner necessitates the elimination of the manual order types described above. As such, the Exchange seeks to delete the references to those order types from Rules 13 and 124. In addition, the Exchange seeks to make conforming changes to Rule 124 in order to ensure accurate consecutive enumeration of the rule text. 2. Statutory Basis The proposed rule change is consistent with the provisions of section 6 of the Act, 9 in general, and with sections 6(b)(5) of the Act, 10 in particular, in that the proposal is designed 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. NYSE believes that the proposed rule change accomplishes these goals by rescinding legacy order types that place customers at risk of missing the market and possibly receiving inferior priced executions. NYSE believes that rescission of these order types promotes the use of electronic functionality and therefore would provide its customers with better execution opportunities. 9 15 U.S.C. 78f. 10 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition NYSE 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. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not:

(i)Significantly affect the protection of investors or the public interest;

(ii)impose any significant burden on competition; and

(iii)become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to section 19(b)(3)(A) of the Act 11 and Rule 19b-4(f)(6) thereunder. 12 11 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 240.19b-4(f)(6). A proposed rule change filed under 19b-4(f)(6) normally may not become operative prior to 30 days after the date of filing. 13 However, Rule 19b-4(f)(6)(iii) 14 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay to immediately remove a current impediment to the efficient operation of its market and to provide customers with better execution opportunities. The Commission hereby grants the Exchange's request and designates the proposal as operative upon filing. 15 13 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. NYSE has complied with this requirement. 14 *Id.* 15 For purposes only of waiving the 30-day operative delay of this proposal, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 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. 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-NYSE-2008-11 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-2008-11. 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, 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 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-2008-11 and should be submitted on or before March 6, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 16 16 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E8-2695 Filed 2-13-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57287; File No. SR-NYSE-2008-12] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to NYSE Rule 104 (Dealings by Specialists) February 7, 2008. 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 February 4, 2008, the New York Stock Exchange LLC (“NYSE” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b-4(f)(6) thereunder, which renders it effective upon filing with the Commission. 4 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). 4 17 CFR 240.19b-4(f)(6). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The NYSE proposes to amend Exchange Rule 104 (Dealings by Specialists) to conform its language to other recent amendments of Rule 104 and Rule 70 (Bids and Offers). The text of the proposed rule change is available at the Exchange, 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 NYSE 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 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 Exchange NYSE Rule 104 (Dealings by Specialists) to conform its language to recent amendments of NYSE Rule 104 and NYSE Rule 70 (Bids and Offers). Specifically, on October 2, 2007, the Exchange amended NYSE Rules 70 and 104 to reduce the minimum display requirement to 100 shares for Floor brokers and specialists to utilize the reserve functionality of the e-Quote and s-Quote. 5 In doing so, the Exchange referred to the new display requirement in terms of a “round-lot” instead of using the term “shares.” The change in language takes into account that, for certain equity securities that trade on the Exchange, a round-lot is other than 100 shares. 6 5 *See* Securities Exchange Act Release No. 56599 (October 2, 2007) 72 FR 57622 (October 10, 2007) (SR-NYSE-2007-93). 6 Exchange Rule 55 (Unit of Trading—Stocks and Bonds) provides in pertinent part, that: “The unit of trading in stocks shall be 100 shares, except that in the case of certain stocks designated by the Exchange the unit of trading shall be such lesser number of shares as may be determined by the Exchange, with respect to each stock so designated.” Pursuant to Exchange Rule 104(e), specialists are allowed to provide price improvement to an order through the use of an algorithmically generated trading message provided the specialist is represented in the bid or offer in a “meaningful amount.” This is defined in the Rule as 1,000 shares for the 100 most active securities on the Exchange, and 500 shares for all other securities on the Exchange. The Exchange proposes to amend the language in NYSE Rule 104(e)(ii) in order to conform it to the language contained in recent amendments to NYSE Rule 70.20(c) and NYSE Rule 104(d), by changing the reference to “1,000 shares” to “ten round-lots” and the reference to “500 shares” to “five round-lots.” The Exchange believes that the proposed amendment clarifies the operation of the rule by adding language that takes into account those equity securities that trade on the Exchange in units other than 100 shares. 2. Statutory Basis NYSE believes that the proposed rule change is consistent with Section 6(b) of the Act 7 in general, and furthers the objectives of Section 6(b)(5) of the Act 8 in particular, in that it is designed 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. The Exchange believes that the instant proposal is consistent with the objectives of the Act in that the amendment serves to remove the ambiguity that currently exists in the rule text of Exchange Rule 104(e)(ii) by clarifying the number of shares that a specialist must display in order to use his or her ability to provide price improvement in those equity securities that trade on the Exchange in units other than 100 shares. 7 15 U.S.C. 78f(b). 8 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 The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 9 and Rule 19b-4(f)(6) thereunder. 10 Because the proposed rule change does not:

(i)Significantly affect the protection of investors or the public interest;

(ii)impose any significant burden on competition; and

(iii)become operative prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-4(f)(6)(iii) thereunder. 11 9 15 U.S.C. 78s(b)(3)(A)(iii). 10 17 CFR 240.19b-4(f)(6). 11 Rule 19b-4(f)(6) also requires the Exchange to give the Commission written notice of its intent to file the proposed rule change along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied the pre-filing requirement. A proposed rule change filed under Rule 19b-4(f)(6) normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii), 12 the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. NYSE has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange believes the waiver of this period will allow it to immediately clarify certain terms within NYSE Rule 104, which it believes is in the public interest as it will avoid ambiguity or confusion by market participants as to how NYSE Rule 104 operates. The Commission believes such waiver is consistent with the protection of investors and the public interest because it presents no new issues and would provide clarification of the Exchange's rules with respect to equity securities that trade on the Exchange in units other than 100 shares. For this reason, the Commission designates the proposal to be operative upon filing with the Commission. 13 12 17 CFR 240.19b-4(f)(6)(iii). 13 For purposes only of waiving the 30-day pre-operative period, the Commission has considered the proposed rule's impact on efficiency, competition and capital formation. 15 U.S.C. 78c(f). 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. 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 e-mail to *rule-comments@sec.gov.* Please include File Number SR-NYSE-2008-12 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-2008-12. 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 will also 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-2008-12 and should be submitted on or before March 6, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 14 14 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E8-2732 Filed 2-13-08; 8:45 am] BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57277; File No. SR-Phlx-2008-09] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify Trading Hours for Physical Delivery FCOs February 6, 2008. 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 February 1, 2008, the Philadelphia Stock Exchange, Inc. (“Phlx” 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 Phlx. The Exchange has designated this proposal as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule under Section 19(b)(3)(A)(i) of the Act 3 and Rule 19b-4(f)(1) 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)(i). 4 17 CFR 19b-4(f)(1). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Phlx proposes to modify its hours of business for dealings on the Exchange to change the opening of physical delivery foreign currency options (“FCOs”) trading from 7:30 a.m. Eastern Time (“ET”) to 9:30 a.m. ET. The change will become effective on February 4, 2008. The text of the proposed rule change is available on the Exchange's Web site at *http://www.Phlx.com/exchange/phlx_rule_fil.html* , at the Exchange, 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 Phlx 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 Phlx 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 make the Exchange's physical delivery FCO program more cost-effective by reducing the duration of the physical delivery FCO trading session. Currently, Phlx Rule 101, “Hours of Business,” states that FCO trading sessions shall be conducted at such times as the Exchange's Board of Governors (“Board”) shall specify between 6 p.m. ET, Sundays and 3 p.m. ET, Fridays, provided that U.S. dollar-settled FCOs shall trade during the same hours as narrow-based index options. 5 Accordingly, the Board adopted the current hours for physical delivery FCO trading sessions, opening at 7:30 a.m. ET and closing at 2:30 p.m. ET. 6 5 The Exchange is not proposing to change the trading hours applicable to U.S. dollar-settled FCOs. 6 In 1993, the Exchange filed a proposed rule change to amend Phlx Rule 101 to provide that all FCO trading, except FCOs on the Canadian dollar, will be conducted between 1:30 a.m. ET and 2:30 p.m. ET each business day. *See* Securities Exchange Act Release No. 33246 (November 24, 1993), 58 FR 63421 (December 1, 1993) (SR-Phlx-93-42). Subsequently, the trading hours were modified to move the opening of FCO trading from 1:30 a.m. ET to 2:30 a.m. ET for all Exchange-listed FCOs except the Canadian dollar. *See* Securities Exchange Act Release No. 34898 (October 26, 1994), 59 FR 54651 (November 1, 1994) (SR-Phlx-94-47). In May 2004, the Exchange expanded the trading hours for options on the Canadian dollar to conform to the trading hours for all other FCOs on the Exchange. *See* Securities Exchange Act Release No. 49690 (May 12, 2004), 69 FR 28972 (May 19, 2004) (SR-Phlx-2004-24). On December 1, 2006 the Exchange changed the trading hours for all physical delivery FCOs to be from 7:30 a.m. ET until 2:30 p.m. ET. *See* Securities Exchange Act Release No. 54802 (November 21, 2006), 71 FR 68875 (November 28, 2006) (SR-Phlx-2006-72). The Exchange proposes to adopt a reduced time period for physical delivery FCO trading sessions by specifying that, beginning February 4, 2008, FCO trading sessions will open at 9:30 a.m. ET and close at 2:30 p.m. ET. The Exchange represents that it has delisted most of its physical delivery FCO contracts and intends to delist the remaining physical delivery FCO on or before March 31, 2008. The Exchange has already limited trading in the remaining physical delivery FCO contracts to “closing only” transactions. The Exchange therefore believes that a reduction in the duration of the trading session is appropriate at this time. In connection with the proposed rule change adopting Phlx Rule 101, the Exchange committed to make future filings under Section 19(b)(3)(A) of the Act 7 any time it expands or changes FCO trading hours in connection with Phlx Rule 101. 8 The Exchange intends to notify its membership of the change in trading hours for physical delivery FCOs by issuing a circular to members. The new trading hours for physical delivery FCOs will be in effect beginning February 4, 2008. 7 15 U.S.C. 78s(b)(3)(A). 8 *See* Securities Exchange Act Release No. 26087 (September 16, 1988), 53 FR 36930 (September 22, 1988) (SR-Phlx-88-25). 2. Statutory Basis The Exchange believes that its proposal 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, because it is designed 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 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 No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective pursuant to Section 19(b)(3)(A)(i) of the Act 11 and Rule 19b-4(f)(1) 12 thereunder, because it constitutes a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule. 11 15 U.S.C. 78s(b)(3)(A)(i). 12 17 CFR 240.19b-4(f)(1). At any time within 60 days of the filing of such 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. 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-Phlx-2008-09 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-Phlx-2008-09. 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 the Phlx. 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-Phlx-2008-09 and should be submitted on or before March 6, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 13 13 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E8-2751 Filed 2-13-08; 8:45 am] BILLING CODE 8011-01-P DEPARTMENT OF TRANSPORTATION [Docket No. OST-2007-27407] National Surface Transportation Infrastructure Financing Commission AGENCY: Department of Transportation (DOT). ACTION: Notice of meeting location and time. SUMMARY: This notice lists the location and time of the ninth meeting of the National Surface Transportation Infrastructure Financing Commission. FOR FURTHER INFORMATION CONTACT: John V. Wells, Chief Economist, U.S. Department of Transportation,

(202)366-9224, *jack.wells@dot.gov* . SUPPLEMENTARY INFORMATION: By **Federal Register** Notice dated March 12, 2007, and in accordance with the requirements of the Federal Advisory Committee Act (“FACA”) (5 U.S.C. App. 2) and the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (“SAFETEA-LU”) (Pub. L. 109-59, 119 Stat. 1144), the U.S. Department of Transportation (the “Department”) issued a notice of intent to form the National Surface Transportation Infrastructure Financing Commission (the “Financing Commission”). Section 11142(a) of SAFETEA-LU established the National Surface Transportation Infrastructure Financing Commission and charged it with analyzing future highway and transit needs and the finances of the Highway Trust Fund and with making recommendations regarding alternative approaches to financing surface transportation infrastructure. Notice of Meeting Location and Time The Commissioners have agreed to hold their ninth meeting from 8:30 a.m. to 4 p.m. on Wednesday, March 5, 2008. The meeting will be open to the public and is scheduled to take place at the Department's headquarters building, located at 1200 New Jersey Avenue, SE., Washington, DC 20590, in Conference Room W82-302. If you need accommodations because of a disability or require additional information to attend this meeting, please contact John V. Wells, Chief Economist, U.S. Department of Transportation,

(202)366-9224, *jack.wells@dot.gov* . John V. Wells, Chief Economist, U.S. Department of Transportation, Designated Federal Official. [FR Doc. E8-2678 Filed 2-13-08; 8:45 am] BILLING CODE 4910-9X-P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration [Docket No. FAA-2007-29320] Operating Limitations at John F. Kennedy International Airport; Notice of Order AGENCY: Department of Transportation, Federal Aviation Administration (FAA). ACTION: Notice of Order. SUMMARY: The Federal Aviation Administration

(FAA)is amending the Order Limiting Scheduled Operations at John F. Kennedy International Airport that published in the **Federal Register** on January 18, 2008. This amendment corrects technical errors in the Order. Specifically, this amendment clarifies that the use-or-lose provisions of the Order will mirror the IATA Worldwide Scheduling Guidelines; changes the office within the FAA responsible for handling appeals from the Air Traffic Organization to the Office of the Chief Counsel; and provides for a five-day notification period in the event a carrier transfers an operation within a marketing code for irregular operations. This document also clarifies several aspects of the Order without substantively changing the applicable requirements. FOR FURTHER INFORMATION CONTACT: Rebecca MacPherson, Assistant Chief Counsel for Regulations, Office of the Chief Counsel, AGC-200, Federal Aviation Administration, 800 Independence Avenue, SW., Washington, DC 20591; telephone

(202)267-3073. SUPPLEMENTARY INFORMATION: On January 18, 2008 the FAA published the *Order Limiting Scheduled Operations at John F. Kennedy International Airport*

(JFK)(Order) in the **Federal Register** (73 FR 3510). The Order establishes a temporary limitation on the number of scheduled operations at JFK. The Acting Administrator of the FAA issued the order as a result of a persistent number of flights above capacity at JFK during the peak operating hours. The FAA intends the Order, as amended today, to relieve the substantial inconvenience to the traveling public caused by excessive congestion-related flight delays at the airport, which magnify as they spread through the National Airspace System. Among other things, the order will reduce the average length of delays and provide for a more efficient use of the nation's airspace. The order takes effect at 6 a.m., Eastern Time, on March 30, 2008, and will expire at 11:59 p.m., Eastern Time, on October 24, 2009. The limits apply to all air carrier and foreign air carrier scheduled operations, excluding helicopters, from 6 a.m., Eastern Time, through 10:59 p.m., Eastern Time. This amendment corrects technical errors in the Order. Specifically, this amendment clarifies that the use-or-lose provisions of the Order will mirror the IATA Worldwide Scheduling Guidelines (WSG); changes the office within the FAA responsible for handling appeals from the Air Traffic Organization to the Office of the Chief Counsel; and provides for a five-day notification period in the event a carrier transfers an operation within a marketing code for irregular operations. This document also clarifies several aspects of the Order without substantively changing the applicable requirements. Changes to the Order Use-or-Lose Provisions As noted in the preamble to the Order published in January 2008, the FAA will calculate use-or-lose based on the WSG. The use-or-lose provision articulated in the Order largely mirrored the approach we have historically taken under the High Density Rule

(HDR)1 and the orders limiting operations at Chicago O'Hare International Airport

(ORD)and LaGuardia Airport (LGA). The requirement articulated in the Order was in error, and the language in paragraph nine of the Order has been amended to reflect the agency's intent. 1 14 CFR part 93, subpart K. Under a strict seasonal use-or-lose provision, an operation that did not commence until June, or ended in September, would be returned to the slot coordinator for reallocation for the following summer season because the slot would not be used at least 80% of the time. The WSG protects seasonal or newly initiated service by allowing the carrier to declare in advance the stop and start dates of service. Under the WSG, carriers are required to inform the coordinator of their intended summer and winter operations by January 31 and August 31, respectively. Any operations not declared by these dates are surrendered and are not given historical status for the subsequent applicable scheduling season. However, they also are not counted against a carrier's slot holdings when determining use-or-lose. Thus, if a carrier were to advise the FAA that it would commence operations on June 1, 2008 and cease those operations on August 31, the only timeframe for determining use-or-lose would be June 1 through August 31, even though the summer scheduling season runs from March 30 to October 25. Assuming the carrier conducted enough flights under an Operating Authorization

(OA)in the June through August timeframe to receive historical recognition, it would be given the OA for summer 2009 from June 1 through August 31. The FAA believes this approach has merit. A strict seasonal use-or-lose policy would require carriers to operate flights on the shoulders of a scheduling season just to assure they would not lose the related OA. This unnecessary service would have the effect of increasing congestion during the spring and fall. Accordingly, we are amending the Order to specify that for purposes of use-or-lose and historical allocation for subsequent seasons, carriers must tell the FAA when a particular operation will start and stop. Because it is too late to meet the submission date specified in the WSG for summer 2008, carriers who wish to have less than the entire summer season subject to the use-or-lose provision must report usage for this upcoming summer by February 29, 2008. Carriers are encouraged to submit information on all service scheduled for summer 2009 by February 29, to assist the FAA in finalizing schedules as soon as possible. Notification to the FAA for winter 2008/2009 and summer 2009 schedules will follow the WSG. For purposes of the winter 2008/2009 scheduling season, historic usage rights will be determined by the appendix to the Order since there were no capacity restraints at JFK in the 2007 winter scheduling season. The FAA will receive initial schedule requests for the winter 2008/2009 scheduling season by the May 15 deadline and coordinate with carriers at the June 2008 IATA Schedules Conference. Paragraph nine of the Order also requires carriers to report on usage within 14 days for every two-month reporting period. Since the WSG use-or-lose requirement applies to an entire scheduling season, there is no need for carriers to report to the FAA every two months. That requirement has been changed. First, the FAA does not believe it needs reports every two months. One option would be for the FAA to merely require a report be filed at the end of the scheduling season. However, the coordination process for allocating OAs for the following season begins approximately six weeks before the end of the season. The beginning of this coordination process requires the coordinator to notify carriers of tentative historical allocations. The FAA needs to know a carrier's usage rate before it can provide even a tentative historical allocation. Accordingly, the FAA has decided to replace the bimonthly reporting requirement with a requirement that carriers provide an interim report approximately two months before the end of the scheduling season, and a final report at the end of the season. Some carriers have requested that they be allowed 30 days to submit their reports rather than 14. As discussed in the preamble to the Order published in January 2008, OAs are allocated on a daily basis, and the use-or-lose requirements apply separately to each day in the week that a carrier conducts a specific operation. Under the HDR, the use-or-lose provisions applied to a specific operation for which a slot had been allocated regardless of how many days a week the slot was used. While the FAA does not believe a seasonal reporting requirement is significantly more burdensome than a bi-monthly requirement, we acknowledge that the determination of use-or-lose based on a daily OA allowance, rather than the weekly allowance contemplated under past use-or-lose regimes, means that a carrier could have to account for up to seven times as many OAs as it would under the requirements in the HDR and the ORD and LGA orders. Accordingly, we believe it is reasonable to extend the period for submitting a final usage report from 14 days to 30. Because carriers may choose to initiate operations after the commencement of a scheduling season, or cease operations prior to the end of the season, there may be some available capacity in the shoulder periods of both the summer and winter scheduling seasons. In general, the FAA believes not reallocating this capacity is beneficial because it should result in further delay reductions. However, the FAA also recognizes that some of this capacity could be reintroduced into the system without significantly impacting delay. The agency also realizes that a carrier may have a short-term need to conduct operations during these time periods. Accordingly, a carrier may request that the FAA allow it to temporarily operate a flight at a time period where there is some newly available capacity. Paragraph 10 has been amended to reflect this possibility. The FAA retains full discretion to determine whether to allow these additional operations. in addition, these operations will not be afforded historical status when determining OAs for the next applicable season. Any longer-term capacity returned by virtue of the Order's use-or-lose provisions would be reallocated for the next applicable season via an auction procedure. The Appendix to the Order shows allocations based on a peak week in August 2007. Many carriers, especially foreign flag carriers, have provided the FAA with information on dates of operation either with the initial schedule submission at the IATA Schedules Conference or in subsequent schedule requests. The FAA has previously acted on that information and the Appendix is not meant to supersede any prior confirmations that carriers may have received. Most domestic operators have not specified seasonal adjustments in their requests. Once carriers have told us when they expect to operate flights for purposes of use-or-lose and historical allocation, the FAA will update the allocation records to reflect actual anticipated operations. Carriers seeking confirmation of their allocation may contact the slot office directly. However, schedules previously confirmed by the FAA do not require reconfirmation. Appeal of Decisions Paragraph 1c of the Order originally specified that the FAA Vice President, System Operations Services, is the final decision-maker for determinations regarding the assignment of an OA to conduct an arrival or departure at JFK during the affected hours. This provision was designed to address clerical errors or other adjustments to the Appendix to the order. However, the FAA realizes that there would be other decisions that a carrier may wish to appeal to the FAA. Because these issues would likely relate to a legal interpretation by the Office of the Chief Counsel rather than a purely operational issue, the FAA has decided the Chief Counsel should be the final decision-maker for all appeals to the agency under the Order. In addition, since the Office of the Chief Counsel handled all appeals under the HDR, it has the greatest experience in this area. Obviously, the operational arms of the FAA would be consulted on all matters under appeal. Paragraph 1c of the Order has been amended accordingly. Transaction Paperwork for Irregular Operations Paragraph seven of the Order addresses the transfer of OAs, including day-of-transfers among carriers under the same marketing control to address irregular operations. The Order originally specified that the FAA must be informed of these transactions within three days (72 hours). This provision was intended to mirror the comparable provision in the LGA Order. That order was amended to extend the reporting requirement to five days (72 FR 63224, November 8, 2007). As the FAA intended to mirror the existing requirement at LGA, paragraph seven has been changed to specify that the FAA must be notified of same day transfers within five days. Clarification of the Order OA Management The FAA has received questions regarding the management of OAs in 15 or 30-minute increments. The appendix to the Order allocates OAs in 15-minute increments. However, the FAA will track arrivals and departures in 30-minute intervals. Codeshare Partners Some carriers have indicated that the requirement under the Order that OAs be held by the operating carrier rather than the marketing carrier is inconsistent with common practice internationally. The FAA continues to believe that the OAs should actually be held by the operator actually conducting the flight. This position is consistent with how we have handled slots under the HDR and arrival and operations authorizations at ORD and LGA. The Amended Order Because this amendment merely corrects technical errors and provides further clarification, the FAA is not seeking public comment on the changes. For the convenience of the affected parties, the Order is recited below in its entirety. With respect to scheduled flight operations at JFK, it is ordered that: 1. This Order assigns operating authority to conduct an arrival or a departure at JFK during the affected hours to the U.S. air carrier or foreign air carrier identified in the appendix to this Order. The FAA will not assign operating authority under this Order to any person or entity other than a certificated U.S. or foreign air carrier with appropriate economic authority and FAA operating authority under 14 CFR part 121, 129, or 135. This Order applies to the following: a. All U.S. air carriers and foreign air carriers conducting scheduled operations at JFK as of the date of this Order, any U.S. air carrier or foreign air carrier that operates under the same designator code as such carrier, and any air carrier or foreign-flag carrier that has or enters into a codeshare agreement with such carrier. b. All U.S. air carriers or foreign air carriers initiating scheduled or regularly conducted commercial service to JFK while this Order is in effect. c. The Chief Counsel of the FAA, in consultation with the Vice President, System Operations Services, is the final decision-maker for determinations under this Order. 2. This Order governs scheduled arrivals and departures at JFK from 6 a.m. through 10:59 p.m., Eastern Time, Sunday through Saturday. 3. This Order takes effect on March 30, 2008, and expires at 11:59 p.m., Eastern Time, on October 24, 2009. 4. Under the authority provided to the Secretary of Transportation and the FAA Administrator by 49 U.S.C. 40101, 40103 and 40113, we hereby order that: a. No U.S. air carriers or foreign air carriers initiating or conducting scheduled or regularly conducted commercial service to JFK may conduct such operations without an Operating Authorization assigned by the FAA. b. Except as provided in the appendix to this Order, scheduled U.S. air carrier and foreign air carrier arrivals and departures will not exceed 81 per hour from 6 a.m. through 10:59 p.m., Eastern Time. c. The Administrator may change the limits if he determines that capacity exists to accommodate additional operations without a significant increase in delays. 5. For administrative tracking purposes only, the FAA will assign an identification number to each Operating Authorization. 6. A carrier holding an Operating Authorization may request the Administrator's approval to move any arrival or departure scheduled from 6 a.m. through 10:59 p.m. to another half hour within that period. Except as provided in paragraph seven, the carrier must receive the written approval of the Administrator, or his delegate, prior to conducting any scheduled arrival or departure that is not listed in the appendix to this Order. All requests to move an allocated Operating Authorization must be submitted to the FAA Slot Administration Office, facsimile

(202)267-7277 or e-mail *7-AWA-Slotadmin@faa.gov* , and must come from a designated representative of the carrier. If the FAA cannot approve a carrier's request to move a scheduled arrival or departure, the carrier may then apply for a trade in accordance with paragraph seven. 7. A carrier may lease or trade an Operating Authorization to another carrier for any consideration, not to exceed the duration of this Order. Notice of a trade or lease under this paragraph must be submitted in writing to the FAA Slot Administration Office, facsimile

(202)26707277 or e-mail *7-AWA-Slotadmin@faa.gov* , and must come from a designated representative of each carrier. The FAA must confirm and approve these transactions in writing prior to the effective date of the transaction. The FAA will approve transfers between carriers under the same marketing control up to five business days after the actual operation, but only to accommodate operational disruptions that occur on the same day of the scheduled operation. 8. A carrier may not buy, sell, trade, or transfer an operating authorization, except as described in paragraph seven. 9. Historical rights to Operating Authorizations and withdrawal of those rights due to insufficient usage will be determined on a seasonal basis and in accordance with the schedule approved by the FAA prior to the commencement of the applicable season. a. For each day of the week that the FAA has approved an operating schedule, any Operating Authorization not used at least 80% of the time over the time-frame authorized by the FAA under this paragraph will be withdrawn by the FAA for the next applicable season except: i. The FAA will treat as used any Operating Authorization held by a carrier on Thanksgiving Day, the Friday following Thanksgiving Day, and the period from December 24 through the first Saturday in January. ii. The Administrator of the FAA may waive the 80% usage requirement in the event of a highly unusual and unpredictable condition which is beyond the control of the carrier and which affects carrier operations for a period of five consecutive days or more. b. Each carrier holding an Operating Authorization must forward in writing to the FAA Slot Administration Office a list of all Operating Authorizations held by the carrier along with a listing of the Operating Authorizations and: i. The dates within each applicable season it intends to commence and complete operations. A. For the summer 2008 scheduling season, the report must be received by the FAA no later than February 29, 2008, unless the carrier intends to utilize its Operating Authorizations for the entire scheduling season. B. For the winter 2008/2009 scheduling season, the report must be received by the FAA no later than August 31, 2008. C. For the summer 2009 scheduling season, the report must be received by the FAA no later than January 31, 2009. ii. The completed operations for each day of the applicable scheduling season: A. No later than September 1 for the summer scheduling season: B. No later than January 15 for the winter scheduling season. iii. The completed operations for each day of the scheduling season within 30 days after the last day of the applicable scheduling season. 10. In the event that a carrier surrenders to the FAA any Operating Authorization assigned to it under this Order or if there are unallocated Operating Authorizations, the FAA will determine whether the unallocated Operating Authorizations should be reallocated. The FAA may temporarily allocate an Operating Authorization at its discretion. Such temporary allocations will not be entitled to historical status for the next applicable scheduling season under paragraph 9. 11. If the FAA determines that a reduction in the number of allocated Operating Authorizations is required to meting operational needs, such as reduced airport capacity, the FAA will conduct a weighted lottery to withdraw Operating Authorizations to meet a reduced hourly or half-hourly limit for scheduled operations. The FAA will provide at least 45 days' notice unless otherwise required by operational needs. Any Operating Authorization that is withdrawn or temporarily suspended will, if reallocated, be reallocated to the carrier from which it was taken, provided that the carrier continues to operate scheduled service at JFK. 12. The FAA will enforce this Order through an enforcement action seeking a civil penalty under 49 U.S.C. 46301(a). A carrier that is not a small business as defined in the Small Business Act, 15 U.S.C. 632, will be liable for a civil penalty of up to $25,000 for every day that it violates the limits set forth in this Order. A carrier that is a small business as defined in the Small Business Act will be liable for a civil penalty of up to $10,000 for every day that it violates the limits set forth in this Order. The FAA also could file a civil action in U.S. District Court, under 49 U.S.C. 46106, 46107, seeking to enjoin any air carrier from violating the terms of this Order. 13. The FAA may modify or withdraw any provision in this Order on its own or on application by any carrier for good cause shown. Issued in Washington, DC, on February 8, 2008. Kerry B. Long, Chief Counsel, Federal Aviation Administration. [FR Doc. 08-661 Filed 2-8-08; 3:55 pm]

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U.S. Code