81 FR 87995 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Chapter VI, Section 5 To Extend the Penny Pilot Program
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 234 (December 6, 2016)
Federal Register Volume 81, Issue 234 (December 6, 2016)
| Page Range | 87995-87997 | |
| FR Document | 2016-29162 |
[Federal Register Volume 81, Number 234 (Tuesday, December 6, 2016)] [Notices] [Pages 87995-87997] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-29162] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79433; File No. SR-Nasdaq-2016-160] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Chapter VI, Section 5 To Extend the Penny Pilot Program November 30, 2016. 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 November 16, 2016, The NASDAQ Stock Market LLC (``Nasdaq'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Chapter VI, Section 5 (Minimum Increments),\3\ of the rules of the NASDAQ Options Market (``NOM'') to extend through June 30, 2017 or the date of permanent approval, if earlier, the Penny Pilot Program in options classes in certain issues (``Penny Pilot'' or ``Pilot''), and to change the date when delisted classes may be replaced in the Penny Pilot.\4\ --------------------------------------------------------------------------- \3\ References herein to Chapter and Series refer to rules of the NASDAQ Options Market (``NOM''), unless otherwise noted. \4\ The Penny Pilot was established in March 2008 and was last extended in 2016. See Securities Exchange Act Release Nos. 57579 (March 28, 2008), 73 FR 18587 (April 4, 2008)(SR-NASDAQ-2008-026); 75283 (June 24, 2015), 80 FR 37347 (June 30, 2015)(SR-NASDAQ-2015- 063) (notice of filing and immediate effectiveness establishing Penny Pilot); and 78037 (June 10, 2016), 81 FR 39299 (June 16, 2016) (SR-NASDAQ-2016-052) (notice of filing and immediate effectiveness extending the Penny Pilot through December 31, 2016). --------------------------------------------------------------------------- The text of the proposed rule change is set forth below. Proposed new language is italicized; deleted text is in brackets. * * * * * NASDAQ Stock Market Rules Options Rules * * * * * Chapter VI Trading Systems * * * * * Sec. 5 Minimum Increments (a) The Board may establish minimum quoting increments for options contracts traded on NOM. Such minimum increments established by the Board will be designated as a stated policy, practice, or interpretation with respect to the administration of this Section within the meaning of Section 19 of the Exchange Act and will be filed with the SEC as a rule change for effectiveness upon filing. Until such time as the Board makes a change in the increments, the following principles shall apply: (1)--(2) No Change. (3) For a pilot period scheduled to expire on [December 31, 2016]June 30, 2017 or the date of permanent approval, if earlier, if the options series is trading pursuant to the Penny Pilot program one (1) cent if the options series is trading at less than $3.00, five (5) cents if the options series is trading at $3.00 or higher, unless for QQQQs, SPY and IWM where the minimum quoting increment will be one cent for all series regardless of price. A list of such options shall be communicated to membership via an Options Trader Alert (``OTA'') posted on the Exchange's Web site. The Exchange may replace any pilot issues that have been delisted with the next most actively traded multiply listed options classes that are not yet included in the pilot, based on trading activity in the previous six months. The replacement issues may be added to the pilot on the second trading day following [July 1, 2016]January 1, 2017. (4) No Change. (b) No Change. * * * * * The text of the proposed rule change is available on the Exchange's Web site at http://nasdaq.cchwallstreet.com, at the principal office of 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 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 purpose of this filing is to amend Chapter VI, Section 5, to extend the Penny Pilot through June 30, 2017 or the date of permanent approval, if earlier,\5\ and to change the date when delisted classes may be replaced in the Penny Pilot. The Exchange believes that extending the Penny Pilot will allow for further analysis of the Penny Pilot and a determination of how the program should be structured in the future. --------------------------------------------------------------------------- \5\ The options exchanges in the U.S. that have pilot programs similar to the Penny Pilot (together ``pilot programs'') are currently working on a proposal for permanent approval of the respective pilot programs. --------------------------------------------------------------------------- Under the Penny Pilot, the minimum price variation for all participating options classes, except for the Nasdaq-100 Index Tracking Stock (``QQQQ''), the SPDR S&P 500 Exchange Traded Fund (``SPY'') and the iShares Russell 2000 Index Fund (``IWM''), is $0.01 for all quotations in options series that are quoted at less than $3 per contract and $0.05 for all quotations in options series that are quoted at $3 per contract or greater. QQQQ, SPY and IWM are quoted in $0.01 increments for all options series. The Penny Pilot is currently scheduled to expire on December 31, 2016. The Exchange proposes to extend the time period of the Penny Pilot through June 30, 2017 or the date of permanent approval, if earlier, and to provide a revised date for adding replacement issues to the Penny Pilot. The Exchange proposes that any Penny Pilot Program [[Page 87996]] issues that have been delisted may be replaced on the second trading day following January 1, 2017. The replacement issues will be selected based on trading activity in the previous six months.\6\ --------------------------------------------------------------------------- \6\ The replacement issues will be announced to the Exchange's membership via an Options Trader Alert (OTA) posted on the Exchange's Web site. Penny Pilot replacement issues will be selected based on trading activity in the previous six months, as is the case today. The replacement issues would be identified based on The Options Clearing Corporation's trading volume data. For example, for the January replacement, trading volume from May 30, 2016 through November 30, 2016 would be analyzed. The month immediately preceding the replacement issues' addition to the Pilot Program (i.e., December) would not be used for purposes of the six-month analysis. --------------------------------------------------------------------------- This filing does not propose any substantive changes to the Penny Pilot Program; all classes currently participating in the Penny Pilot will remain the same and all minimum increments will remain unchanged. The Exchange believes the benefits to public customers and other market participants who will be able to express their true prices to buy and sell options have been demonstrated to outweigh the potential increase in quote traffic. 2. Statutory Basis The Exchange believes that its proposal 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 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 and, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b). \8\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- In particular, the proposed rule change, which extends the Penny Pilot for an additional six months through June 30, 2017 or the date of permanent approval, if earlier, and changes the date for replacing Penny Pilot issues that were delisted to the second trading day following January 1, 2017, will enable public customers and other market participants to express their true prices to buy and sell options for the benefit of all market participants. This is consistent with the Act. 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. To the contrary, this proposal is pro-competitive because it allows Penny Pilot issues to continue trading on the Exchange. Moreover, the Exchange believes that the proposed rule change will allow for further analysis of the Pilot and a determination of how the Pilot should be structured in the future; and will serve to promote regulatory clarity and consistency, thereby reducing burdens on the marketplace and facilitating investor protection. The Pilot is an industry-wide initiative supported by all other option exchanges. The Exchange believes that extending the Pilot will allow for continued competition between market participants on the Exchange trading similar products as their counterparts on other exchanges, while at the same time allowing the Exchange to continue to compete for order flow with other exchanges in option issues trading as part of the Pilot. 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 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)(iii) of the Act \9\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\10\ --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A)(iii). \10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 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. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or 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 CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-Nasdaq 2016-160 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-Nasdaq-2016-160. This file number should be included on the subject line if email 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 Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 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-Nasdaq-2016-160 and should be submitted on or before December 27, 2016. [[Page 87997]] For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\11\ --------------------------------------------------------------------------- \11\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2016-29162 Filed 12-5-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices 87995
inspection and copying at the principal delisted classes may be replaced in the The text of the proposed rule change
office of the Exchange. All comments Penny Pilot.4 is available on the Exchange’s Web site
received will be posted without change; The text of the proposed rule change at http://nasdaq.cchwallstreet.com, at
the Commission does not edit personal is set forth below. Proposed new the principal office of the Exchange, and
identifying information from language is italicized; deleted text is in at the Commission’s Public Reference
submissions. You should submit only brackets. Room.
information that you wish to make * * * * * II. Self-Regulatory Organization’s
available publicly. All submissions
NASDAQ Stock Market Rules Statement of the Purpose of, and
should refer to File Number SR–
Options Rules Statutory Basis for, the Proposed Rule
BatsBYX–2016–36, and should be
Change
submitted on or before December 27, * * * * *
2016. In its filing with the Commission, the
Chapter VI Trading Systems Exchange included statements
For the Commission, by the Division of
Trading and Markets, pursuant to delegated * * * * * concerning the purpose of and basis for
authority.13 the proposed rule change and discussed
Sec. 5 Minimum Increments any comments it received on the
Eduardo A. Aleman,
(a) The Board may establish minimum proposed rule change. The text of these
Assistant Secretary.
quoting increments for options contracts statements may be examined at the
[FR Doc. 2016–29159 Filed 12–5–16; 8:45 am]
traded on NOM. Such minimum places specified in Item IV below. The
BILLING CODE 8011–01–P
increments established by the Board Exchange has prepared summaries, set
will be designated as a stated policy, forth in sections A, B, and C below, of
practice, or interpretation with respect the most significant aspects of such
SECURITIES AND EXCHANGE
to the administration of this Section statements.
COMMISSION
within the meaning of Section 19 of the A. Self-Regulatory Organization’s
[Release No. 34–79433; File No. SR– Exchange Act and will be filed with the
Nasdaq–2016–160] Statement of the Purpose of, and
SEC as a rule change for effectiveness
Statutory Basis for, the Proposed Rule
upon filing. Until such time as the
Self-Regulatory Organizations; The Change
Board makes a change in the
NASDAQ Stock Market LLC; Notice of increments, the following principles 1. Purpose
Filing and Immediate Effectiveness of shall apply:
Proposed Rule Change To Amend The purpose of this filing is to amend
(1)—(2) No Change. Chapter VI, Section 5, to extend the
Chapter VI, Section 5 To Extend the (3) For a pilot period scheduled to
Penny Pilot Program Penny Pilot through June 30, 2017 or the
expire on [December 31, 2016]June 30,
date of permanent approval, if earlier,5
November 30, 2016.
2017 or the date of permanent approval,
and to change the date when delisted
if earlier, if the options series is trading
Pursuant to Section 19(b)(1) of the classes may be replaced in the Penny
pursuant to the Penny Pilot program one
Securities Exchange Act of 1934 Pilot. The Exchange believes that
(1) cent if the options series is trading
(‘‘Act’’),1 and Rule 19b–4 thereunder, 2 extending the Penny Pilot will allow for
at less than $3.00, five (5) cents if the
notice is hereby given that on November further analysis of the Penny Pilot and
options series is trading at $3.00 or
16, 2016, The NASDAQ Stock Market a determination of how the program
higher, unless for QQQQs, SPY and
LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed should be structured in the future.
IWM where the minimum quoting
with the Securities and Exchange Under the Penny Pilot, the minimum
increment will be one cent for all series
Commission (‘‘SEC’’ or ‘‘Commission’’) regardless of price. A list of such price variation for all participating
the proposed rule change as described options shall be communicated to options classes, except for the Nasdaq-
in Items I, II, and III below, which Items membership via an Options Trader Alert 100 Index Tracking Stock (‘‘QQQQ’’),
have been prepared by the Exchange. (‘‘OTA’’) posted on the Exchange’s Web the SPDR S&P 500 Exchange Traded
The Commission is publishing this site. Fund (‘‘SPY’’) and the iShares Russell
notice to solicit comments on the The Exchange may replace any pilot 2000 Index Fund (‘‘IWM’’), is $0.01 for
proposed rule change from interested issues that have been delisted with the all quotations in options series that are
persons. next most actively traded multiply quoted at less than $3 per contract and
listed options classes that are not yet $0.05 for all quotations in options series
I. Self-Regulatory Organization’s
included in the pilot, based on trading that are quoted at $3 per contract or
Statement of the Terms of Substance of
activity in the previous six months. The greater. QQQQ, SPY and IWM are
the Proposed Rule Change
replacement issues may be added to the quoted in $0.01 increments for all
The Exchange proposes to amend pilot on the second trading day options series. The Penny Pilot is
Chapter VI, Section 5 (Minimum following [July 1, 2016]January 1, 2017. currently scheduled to expire on
Increments),3 of the rules of the (4) No Change. December 31, 2016.
NASDAQ Options Market (‘‘NOM’’) to (b) No Change. The Exchange proposes to extend the
extend through June 30, 2017 or the date * * * * * time period of the Penny Pilot through
of permanent approval, if earlier, the June 30, 2017 or the date of permanent
Penny Pilot Program in options classes 4 The Penny Pilot was established in March 2008 approval, if earlier, and to provide a
in certain issues (‘‘Penny Pilot’’ or and was last extended in 2016. See Securities revised date for adding replacement
mstockstill on DSK3G9T082PROD with NOTICES
‘‘Pilot’’), and to change the date when Exchange Act Release Nos. 57579 (March 28, 2008), issues to the Penny Pilot. The Exchange
73 FR 18587 (April 4, 2008)(SR–NASDAQ–2008–
026); 75283 (June 24, 2015), 80 FR 37347 (June 30,
proposes that any Penny Pilot Program
13 17 CFR 200.30–3(a)(12). 2015)(SR–NASDAQ–2015–063) (notice of filing and
1 15 U.S.C. 78s(b)(1). 5 The options exchanges in the U.S. that have
immediate effectiveness establishing Penny Pilot);
2 17 CFR 240.19b–4.
and 78037 (June 10, 2016), 81 FR 39299 (June 16, pilot programs similar to the Penny Pilot (together
3 References herein to Chapter and Series refer to 2016) (SR–NASDAQ–2016–052) (notice of filing ‘‘pilot programs’’) are currently working on a
rules of the NASDAQ Options Market (‘‘NOM’’), and immediate effectiveness extending the Penny proposal for permanent approval of the respective
unless otherwise noted. Pilot through December 31, 2016). pilot programs.
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![Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices 87997
For the Commission, by the Division of For Saudi Arabia, a waiver as required SWP has certified that: (1) No local
Trading and Markets, pursuant to delegated in the ‘‘important national interest of traffic has moved over the Line for at
authority.11 the United States,’’ pursuant to section least two years; (2) there is no overhead
Eduardo A. Aleman, 407 of the Act; traffic on the Line; (3) no formal
Assistant Secretary. For Sudan, the restriction in the complaint filed by a user of rail service
[FR Doc. 2016–29162 Filed 12–5–16; 8:45 am] annual Department of State, Foreign on the Line (or by a state or local
BILLING CODE 8011–01–P Operations, and Related Programs government entity acting on behalf of
Appropriations Act on making certain such user) regarding cessation of service
appropriated funds available for over the Line either is pending with the
DEPARTMENT OF STATE assistance to the Government of Sudan, Surface Transportation Board (Board) or
currently set forth in section 7042(j) of with any U.S. District Court or has been
[Public Notice 9810] the Department of State, Foreign decided in favor of complainant within
Operations, and Related Programs the two-year period; and (4) the
Secretary of State’s Determination
Appropriations Act, 2015 (Div. K, Pub. requirements at 49 CFR 1105.7(c) and
Under the International Religious
L. 114–113), and any provision of law 1105.8(c) (environmental and historic
Freedom Act of 1998
that is the same or substantially the report), 49 CFR 1105.11 (transmittal
Summary: The Secretary of State’s same as this provision, pursuant to letter), 49 CFR 1105.12 (newspaper
designation of ‘‘countries of particular section 402(c)(5) of the Act; publication), and 49 CFR 1152.50(d)(1)
concern’’ for religious freedom For Tajikistan, a waiver as required in (notice to governmental agencies) have
violations. Pursuant to Section 408(a) of the ‘‘important national interest of the been met.
the International Religious Freedom Act United States,’’ pursuant to section 407 As a condition to this exemption, any
of 1998 (Pub. L. 105–292), as amended of the Act;
employee adversely affected by the
(the Act), notice is hereby given that, on For Turkmenistan, a waiver as
abandonment shall be protected under
October 31, 2016, the Secretary of State, required in the ‘‘important national
interest of the United States,’’ pursuant Oregon Short Line Railroad—
under authority delegated by the Abandonment Portion Goshen Branch
President, has designated each of the to section 407 of the Act;
For Uzbekistan, a waiver as required Between Firth & Ammon, in Bingham &
following as a ‘‘country of particular Bonneville Counties, Idaho, 360 I.C.C.
concern’’ (CPC) under section 402(b) of in the ‘‘important national interest of
the United States,’’ pursuant to section 91 (1979). To address whether this
the Act, for having engaged in or condition adequately protects affected
tolerated particularly severe violations 407 of the Act.
For Further Information Contact: employees, a petition for partial
of religious freedom: Burma, China, revocation under 49 U.S.C. 10502(d)
Eritrea, Iran, the Democratic People’s Benjamin W. Medina, Office of
International Religious Freedom, Bureau must be filed.
Republic of Korea, Saudi Arabia, Sudan,
of Democracy, Human Rights, and Provided no formal expression of
Tajikistan, Turkmenistan, and
Labor, U.S. Department of State, (Phone: intent to file an offer of financial
Uzbekistan. The Secretary
(202) 647 3865 or Email: MedinaBW@ assistance (OFA) has been received, this
simultaneously designated the following
state.gov). exemption will become effective on
Presidential Actions for these CPCs:
For Burma, the existing ongoing Dated: November 30, 2016. January 5, 2017, unless stayed pending
restrictions referenced in 22 CFR 126.1, reconsideration. Petitions to stay that do
Daniel L. Nadel,
pursuant to section 402(c)(5) of the Act; not involve environmental issues,2
Director, Office of International Religious
For China, the existing ongoing Freedom, Department of State.
formal expressions of intent to file an
restriction on exports to China of crime OFA under 49 CFR 1152.27(c)(2),3 and
[FR Doc. 2016–29171 Filed 12–5–16; 8:45 am]
control and detection instruments and interim trail use/rail banking requests
BILLING CODE 4710–18–P
equipment, under the Foreign Relations under 49 CFR 1152.29 must be filed by
Authorization Act of 1990 and 1991 December 16, 2016. Petitions to reopen
(Pub. L. 101–246), pursuant to section or requests for public use conditions
SURFACE TRANSPORTATION BOARD under 49 CFR 1152.28 must be filed by
402(c)(5) of the Act;
For Eritrea, the existing ongoing [Docket No. AB 1240X] December 27, 2016, with the Surface
restrictions referenced in 22 CFR 126.1, Transportation Board, 395 E Street SW.,
pursuant to section 402(c)(5) of the Act; Southwest Pennsylvania Railroad Washington, DC 20423–0001.
For Iran, the existing ongoing travel Company—Abandonment Exemption— A copy of any petition filed with the
restrictions in section 221(c) of the Iran in Fayette County, Pa. Board should be sent to SWP’s
Threat Reduction and Syria Human Southwest Pennsylvania Railroad representative: Richard R. Wilson, P.C.,
Rights Act of 2012 (TRA) for individuals Company (SWP) has filed a verified
identified under section 221(a)(1)(C) of notice of exemption under 49 CFR part U.S.C. 1247(d), upon the Board imposing a decision
the TRA in connection with the 1152 subpart F—Exempt Abandonments and notice of interim trail use or abandonment.
2 The Board will grant a stay if an informed
commission of serious human rights to abandon .3 miles of rail line between decision on environmental issues (whether raised
abuses, pursuant to section 402(c)(5) of milepost 7 in Uniontown to the end of by a party or by the Board’s Office of Environmental
the Act; the line in South Union Township Analysis (OEA) in its independent investigation)
For the Democratic People’s Republic (SUT), in Fayette County, Pa. (the Line). cannot be made before the exemption’s effective
of Korea, the existing ongoing date. See Exemption of Out-of-Serv. Rail Lines, 5
The Line traverses U.S. Postal Service I.C.C.2d 377 (1989). Any request for a stay should
restrictions to which the Democratic
mstockstill on DSK3G9T082PROD with NOTICES
Zip Code 15401. be filed as soon as possible so that the Board may
People’s Republic of Korea is subject, SWP states it plans to abandon the take appropriate action before the exemption’s
pursuant to sections 402 and 409 of the Line and convert the property to trail effective date.
Trade Act of 1974 (the Jackson-Vanik use.1 The proposed transaction may not
3 Each OFA must be accompanied by the filing
Amendment), pursuant to section fee, which is currently set at $1,700. See
be consummated until January 5, 2017. Regulations Governing Fees for Servs. Performed in
402(c)(5) of the Act; Connection with Licensing & Related Servs.—2016
1 SWP states it has agreed to lease the line to SUT Update, EP 542 (Sub-No. 24) (STB served Aug. 2,
11 17 CFR 200.30–3(a)(12). pursuant to the National Trails System Act, 16 2016).
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Document Created: 2016-12-06 02:19:03
Document Modified: 2016-12-06 02:19:03
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 81 FR 87995 |
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