ML20040G379
| ML20040G379 | |
| Person / Time | |
|---|---|
| Issue date: | 01/08/1982 |
| From: | Dircks W NRC OFFICE OF THE EXECUTIVE DIRECTOR FOR OPERATIONS (EDO) |
| To: | |
| References | |
| TASK-PIA, TASK-SE SECY-82-011, SECY-82-11, NUDOCS 8202120234 | |
| Download: ML20040G379 (11) | |
Text
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[n,, %f (' h SECY-82-ll f
January 8,1982 9,:
POLICY ISSUE e
(Affirmation)
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For:
The Commissioners p
From:
William J. Dircks ml4 Executive Director for Operations
Subject:
GENERAL LICENSE FOR MILL TAILINGS IN AGREEMENT STATES
Purpose:
To obtain Commission approval for revocation of the previously issued general license.
Category:
Minor policy issue requiring Commission approval.
Discussion:
On November 6, 1981, the Commission approved a general license for mill tailings in Agreement States. The license was intended to fill the gap between November 8, 1981, when the NRC gained jurisdiction over tailings in Agreement States, and the time when Agreement States would secure amended agreements relinquishing jurisdiction to them.
(SeeSECY-81-642).
It was also notec in the Federal Registe'r notice approved by the Commission that Congressional action could moot the general license. Such Congressional action has occurred in the Stratton-Schmitt amendment to the Energy and Water Development Appropriation Act,1982, signed by the President on December 4,1981.
It was noted at the Commission meeting on November 6,1981, that if such legislation were to be enacted the general license should be revoked.
(See transcript of closed,neeting November 6, 1981, p. 35).
Accordingly, the staff has prepared a notice of revocation for publication in the Federal Register.
Contact:
R. L. Fonner, OELD 492-8692 C202120234 820108 PDR SECY C2-011 PDR
The Commissioners Recommendations:
That the Commission 1.
Approve the revocation of the general license issued at 46 FR 55505. (Attachment A) 2.
Note that the general license is to be revoked effective immediately.
3.
Note that the Subcommittee on Energy and The Environment, Subcommittee on Nuclear Regulation, Committee on Energy and Power, and the Subcommittee on Environment, Energy, and Natural Resources will be notified of this' action.
(AttachmentB)
Scheduling:
Counsel for Kerr-McGee and the American Mining Congress have infonned staff that they may file a petition on or about January 9,1982 for -
review of the general license in order to protect their legal position that the Commission may not exercise its jurisdiction in Agreement States without a hearing under Section 274j of the Atomic Energy Act, as amended.
Prompt Comission action would moot the issue.
William. Dircks Executive Director for Operations Attachments:
A.
Federal Register Notice B.
Oraft Congressional letter C.
46 F.R. 55505-55507, General License.
1 Comissioners' coments should be provided directly to the Office of the Secretary l
by c.o.b. Monday, January 25, 1982.
Commission Staff Office coments, if any, should be submitted to the Commissioners NLT January 11, 1982, with an information copy to the Office of the Secretary.
If the paper is of such a nature that it requires additional time for analytical review and comment, the Comissioners and the Secretariat should be apprised of when comments may be expected.
This paper is tentatively scheduled for affirmation at an open meeting during the week of January 25, 1982.
Please refer to the appropriate Weekly Commission Schedule, when published, for a specific date and time.
l DISTRIBUTION Commissioners Commission Staff Offices Exec Dir for Operations Exec Legal Director ASLBP Secretariat
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e ATTACHMENT A
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i NUCLEAR REGULATORY COMMISSION 10 CFR PART 46 REVOCATION OF GENERAL LIC_ENSE AGENCY:
Nuclear Regulatory Commission AGENCY ACTION: Revocation of Final Rule :
SUMMARY
The Commission is revoking the general license issued November 10, 1981, to allow persons licensed by an Agreement State to process uranium are to also possess uranium mill tailings.
DATES:
The revocation is effective immediately upon publication.
FOR FURTHER INFORMATION CONTACT:
Robert L. Fonner, Office of the Executive Legal Director, U.S. Nuclear Regulatory Commission, Washington, D.C.
- 20555, Telephone: (301) 492-8692.
SUPPLEMENTA'L INFORMATION: On November 10, 1981, the Commission issued a general license, effective November 8,1981, to permit the possession of byproduct material in the form of uranium mill tailings (See 46 F.R. 55505).
The license applies only to persons in Agreement States who hold current Agreement State specific licenses for source material (uranium) processing.
The general license was necessary at that time to fill the gap between the accession of jurisdiction over such byproduct material to the Nuclear Regulatory Commission under the terns of Section 204 of the Uranium Mill Tailings Radiation Control Act of 1978, as amended, and the time when
. Agreement States would execute amendments to their Agreements relinquishing such jurisdiction to them.
It was noted in the Federal Register notice promulgating the general license that the Congress had before it certain legislative proposals that could affect the validity of the general license. Subsequent to the publication of the general license the Congress enacted, and the President signed, Public Law 97-88 (effective December 4,1931), the " Energy and Wa'ter Development Appropriation Act, 1982." To the part of Title IV of that Act pertaining to Commission appropriations for fiscal year 1982 (October 1,1981 to September 30,1982) the Congress appended the following:
.., that no funds appropriated to the Nuclear Regulatory Commission in this Act may be used to implement or enforce any portion of the Uranium Hill Licensing Requirements published as final rules at 45 Federal Register 65521 to 65538 on October 3, 1980, or to require any State to adopt such requirements in order for the State to continue to exercise authority under State law for uranium mill and mill tailings licensing, or to exercise any regulatory authority for uranium mill and mill taTlInqL licensing in any State th_at_ has acted to exercise such authoritv_
under State law:.... (emphasis supplied)
Since each of the four Agreement States with active uranium mills covered by the general license (Washington, Colorado, Texas, and New Mexico) has acted to exercise authority under State law over uranium mill tailings, the Congress, by the above language, has precluded the exercise of NRC jurisdiction in those States until October 1,1982. Accordingly, the general license serves no purpose at the present time and should be revoked.
However, should no further legislative action be taken by the Congress to amend the Uranium Mill Tailings Radiation Control Act of 1973 or otherwise to
. furtiher extend the time for accession of jurisdiction to NRC, it may be necessary by October 1,1982 to reinstate the general license or require specific Commission licenses for uranium mill tailings.
Because this notice serves to implement a statutorily compelled result the Commissionforgood.causefindsthatnoticeandpubjiccommentonthe revocation of the general license are unnecessary..Further, because the revocation is not a substantive rule 5 U.S.C. 553(d) does not apply to this notice and the revocation can be made effective immediately upon publication.
Therefore, pursuant to the Atomic Energy Act of 1954, as amended, the Energy Reorganization Act of 1974, as amended, and Sections 552 and 553 of Title 5 of the United States Code, the following amendment to Title 10, Chapter 1, Code of Federal Regulations, Part 40, is published as a document subject to codification.
Part 40 - Domestic Licensing of Source Material 1.
The authority citation for 10 CFR Part 40 reads as follows:
Authority:
Secs. 62, 63, 64, 65, 81, 161, 182, 183, 186, 68 Stat. 932, 933, 935 948, 953, 954, 955, as amended, secs. 83, 84, 92 Stat. 3033, as amended, 3039, sec. 234, 83 Stat. 444, as amended, (42 U.S.C. 2092, 2093,2094,2095,2111,2113,2114,2201,2232,2233,2236,2282); secs. 202, 206, 88 Stat. 1244, 1246, (42 U.S.C. 5842, 5846) unless othenvise noted.
Section 40.31(g) also issued under sec. 122, 68 Stat. 939 (42 U.S.C. 2152).
Section 40.46 also issued under sec.184, 68 Stat. 954, as amended (42 U.S.C. 2234).
For the purposes of sec. 223, $3 Stat.
958, as amended, (42 U.S.C. 2273), 5% 40.3, 40.25(d)(1)-(3),
40.35(a)-(d), 40.41(b) and (c), 40.46, 40.51(a) and (c) and 40.63 are issued under sec. 161b, 68 Stat. 948, as amended, (42 U.S.C. 2201(b));
4-and 99 40.25(c) and (d)(3) and (4), 40.26(c)(2), 40.35(e), 40.41(f),
40.61, 40.62, 40.64, and 40.65 are issued under sec.161c, 68 Stat. 950, as amended.
(42 U.S.C. 2201(o)).
2.
Section 40.27 of 10 CFR Part 40 is revoked.
Dated at Washington D.C., this day of January,1982.
FOR THE NUCLEAR REGULATORY COMMISSION Samuel J. Chilk Secretary of the Commission
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Dear:
The Commission is revoking the general license issued November 10, 1981 (effective November 8,1981) authorizing the possession of mill tailings by persons licensed by Agreement States. The reason for the revocation is the express prohibition contained in the Energy' and Water Development Appropriation Act,1982, against exercise of Commission authority with respect to mill tailings in any State that has acted to exercise such authority under State law. A copy of the notice of revocation is enclosed for your information.
Sincerely, William J. Dircks Executive Director for Operations (AttachmentB) i
k ATTACHMENT C
.xh Feder:I Rzgist:r / Vol. 48. Na 217 / Tu:sday, November 10. 1981 / Rules and R:gulatt:ns 55505 39 (t) In Sabpart E. I 890.502(b) Is revised automatically enroUed in the same plan Act of1978 (UhfTRCA). was amended to a4 2 read as follows:
and option as he/she had at the time of c!arify the respective jurisdictions of the such cancellation effective as of the Commission and Agreement States for d
g 890.502 Emptoyee witgoMngs.
first day of the first pay period in which the three year period commencing upon -
M the employee's available pay is again enactment of the latter Act (Nov.8, d
(b)(1)If a seasonal employee, an on-sufficient to cover the employee share.
1978) and for the following years.
M[
call employee, a work-study employee.
- (4) For the purposes of this part, a In particular, the 1979 amendment
- Fl or other type of employee who is seasonal employee is one who is so added a new section 204(h)(3) to
?.3 regularly placed In no. pay status as a designated by the employing agency or UhfrRCA which reads as fo!!ows:
d.
condition of empl9 ment. Is carried in who is employed under conditiona
-J ab a"ssume'shj
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non ay s a us, eif the a vallable for requiring a recurring period of this ti e.
a the e ne ts w ngs e employment ofless that 2000 hours0.0231 days <br />0.556 hours <br />0.00331 weeks <br />7.61e-4 months <br /> per assumed. punuant to an agreement entered msaffic,ent to cover the w,thholdings for year in which he/she is placed in a into under section U4b. of the Atomic Energy i
i b*
a pay period he/she is required to pay' nonpay status in accordance with pm.
Act of 1954. authority over any activity which on a current basis, both the Covernment estab'ished conditions of employment; results in the production of byproduct g
and employee contributions for each an on-call employee in one who is a matena!. as defined in section 11e.121 of such
[$g pIY p"fod '
permanent career or career-conditional Act. the Commission shall not. until the end (21 Following completion of the period employee hired on a work.as-needed of the thr**-year period beginning on the date j
of the enactment of this Act.havelicensing during which an enrollment continues basis for service during periods of heavy aut nty m suc bypmduct matenal without cost to the em loyee under
- fkl 8d with 8 2 8imUM 88 8
produced in any activity covered by such y~
! 890.303(e)(1) of this apter, and for so Period of at least 6 months each yeart a agreement. unless the agreement is long as the enrollment continues work study employee is one who has a terminated. suspended. or amended to thereafter during nonpay status, or career-conditional or career provide for such Federallicensing. If. at the durirg pay periods in which the amount appointment or who is appointed under end of such three-year period. a State has not p,
of salary available for health benefits Schedule B of Part 213 of this chapter, entered into such an agreement with respect
'~d withholdings is insufficient to cover the who is employed under a cooperative to baroduct material, as defined in section Iy employee share, the employee is work-study program of at least one 11e.(21 of the Atomic Energy Act of1954, the p;.
required to pay, on a current basis, the year's duration which requires the Commission shall have authority over ruch employee share for each pay period.
employee to be in a pay status during 2
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placed In a s atu un er wh c pohes notless than one-third of the total time nelast sentence of section 204(h)(3) j.?
e required to make payments under this mquind for completion of the program.
states clearly that, absent an f
amendment to an existing Agreement, s
paragraph. or at the time such status is the Commission shall have authority ontinued beyond the last pay period of (5 U.S.C. as13) over tailings in Agreement States as of
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n1. the a ency shall notify the Int on. wi-san rc.4 ti+et =4s =l November 8,1981, the end of the three-employee t at he/she will be required to sua caos sus.ms
. year period referred to in section bsy either the employee share only or 204(h)(3). This consequence results from oth the Government and employee -
contributions, as the case may be.The NUCLEAR REGULATORY the operation of law, and the accession notice shall specifically inform the COMMISSION of statutory jurisdiction to the employee how, when and where the Commission requires no further positive i,
payments are to be submitted.The 10 CFR Part 40 action on the part of the Commission or agency is responsible for collecting, the Agreement State to become accounting for and depositing in the Issuance of GeneralLicense effective.
Accordingly,in view of the fact that Employees Health Benefits Fund all AGENcn Nuclear Regulatory none of the affected Agreement States p:yments required. Payments are Commission.
(Washington. Colorado. Texas, and New considered to be currently made if f
received by the agency within 3 months Action: Final rule.
hiexico) has executed an amendment to its Sec. 274 Agreement providing for l
after the end of the pay period covered
SUMMARY
- ne Commission is issuing a ent Mederal keqg and thereby. Failure to make the required generallicense to authorize uranium mill Ngdatory ahty per a tabgs n
s payments currently is deemed to operators in Agreement States to
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possess and dispose of mill tailings.%e Nuclear Regulatory Commission will' b constitute a cancellation of the enrollment effective on the last day of generallicense is of a temporary nature have licensing and regulatory authority the pay period for which payments were and required by law to preclude the per mch material as o eder 8, currently deposited or,iflater, at the appearance of technical violations of the 18Ge new Conum,u@mn jMcMon and of the pay period during which Atomic Energy Act of1954, as amended. relates only to the tailings and does not p
coverage without cost to the employee CATES:The generallicense is cIIective affect State licensing and regulation of b
ended under i 890.303(c)(1) of this November 8,1981.
the processing of source material under g
chapter. However, coverage which is so cant.eled may be reinstated FOR FURTHER INFORMATION CONTACTt current effective Agreements.
retroacthely when in the judgment of Robert L Fonner. Office of the Executive Current Commission regulations make J.
the agency, the failure to make the Legal Director, U.S. Nuclear Regulatory no provision for the trnlicensed 4
required current payment was due to Commission. Was hington, D.C. 20555.
possession of tailings. A consequence of d
$p cir.cumstances beyond the control of the Telephone: (301) 492-8692.
this is that Agreeme::t State uranium employee, and if the required payments SUPPLEMENT ARY INFORM ATION:Under mill operators would be technically in j
re rnade to the agency at the first the Surface Transportation Assistance violation of Section 81 of the AE Act, s
1 pportunity. An employee whose Act Amendments of 1978 (Pub. L 96-106, and technically could be subject to both 7
enrollment is canceled under this 93 Stat. 799 (1979)}. section 2M of criminal penalties under section 223 of L
Uranium Mill Tailings Radiation Control the AE Act, and civil penalties under
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paragraph is considerd to be i
Attachment C t
b
' 55505 Fedtral Registor / Vol. 46. No. 217 / Tuesdty. No.Cr0er 10,1981/ Rules end Regulati ns section 234 of the AE Act if the and to preclude the possibility of a time the general!! cense is to remove sa lice mmission fails to take some gap during which the waste disposal inference of illegality in the activities of upc c :
rmative action. In addition, the activities of such operators are arguably state licensed mill operators.no tak
,mmission needs to establish a legal unregulated.
general license continues the status que
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Sta basis for taking future action. If In view of the above the general and imposes no added burden os necesury. In order to avoid any license is conditioned to terminate la Agreement State licensees. For the same Col implication of wrongful conduct on the any Agreement State when sa reasons the Commission is also pro a
ptrt of uranium mill opes;s*fors la amendment to the Agreement covering exercising its authority to dispense with' '
L Agtsement States and to provide a basia tailings is executed. Re general l cense the usual 30. day notice period required Ce for future Commission action, the is not conditioned to terminate upon by 5 U.S.C. 553(d).
35 Commission is authorizing Agreement enactment of current legislative Derefore, pursuant to the Atomic be' Stata uranium mill operators to possess proposals because it is not clear at this and dispose of byproduct material time whether those proposals will Energy Act of1954, as amended, the de Energy Reorganization Act of 1974. as as produced in the course of processing change the legal structure of the amended, and sections 552 and 553 of re source material are for its uranium Uranium Mill Tailings Radiation Control Title 5 of the United States Code, the th :
content under current Agreeme'st State Act or simply preclude the expenditure following amendment to Title 10.
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lic:nses by the issuance of an of appropriated funda on Chapter 1. Code of Federal Regulations, b;-
immediately effective generallicense implementation of the Commission *a Part 40. is published as a document subirct to the condition that the program in Agreement States based subject to codification.
N l
cp:rator shall comply with all upon the codified regulations in l
conditions in its Agreement State Appendix A to to CFR Part 40. If the PART 40-DOMi.STIC LICENSING OF license for management and disposal of Congress alters the legal structure now SOURCE MATERIAL i
8 byproduct material existing in UM'lltCA and defers Because it is anticipated that he Commission accession to jurisdiction la
- 1. De authority citation for Part 40 la p
Agreement States will most likely secure Agreement States, then the general revised to read as follows:
e omsndments to their Agreements, the license will be of no force and effect by Authority: Secs. e2. 83. 64. es. si. 83,34.181.
r gIntral!! cense is also conditioned to virtue of the Congressional action: thus ta2. tea. as stat. ssa, ess, sea. ess. ose, as tIrminate for each generalIIcensee in a there is not need for the Commission to amended (42 UAC 2002, aces. 20se. 2ess.
E givsn State when such an amendment la cover that contingency in the general 2111. 21:3. 2114. 2201. 2232. 22331: we. 2o2.
ans. as Stat.1244.1246 (42 UAC seat, sees).
cxecuted.
license.
unless otherwise noted.
N generallicense is intended to fill In making the generallicense th2 gap between November s.1981, dependent upon compliance with waste (sec. 4a4e etso tesued under sec. see. es stat.
J whtn the Commission gains jurisdiction disposal conditions la State issued eso, as amended (42 USC 2234). For the source material licenses the Commission purpows of we. 223. es Stat. sea, as ameded "er uranium mill tallings in A ement (42 USC 2273) l 4a41(c) issued under sec.
'es. and the time that the al ted is not implying or concluding that such teth, es stat. sea (42 USC 220t(b)) and
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seement States and the Commission State licenses are adequate or inadequate il 40.23(e)(31. 40.61 and east issued under exicute amendments to existing with rupect to nguladon of mal sec. teto, es Stat. sSo, as amended (42 UAC Agracments addinf nuclear materialsuranium mill tailings tailings.h generalIIcense is a asetto)))
temporary measure to fill a legal void (Sec. 40.31(s) also issued under sec.122. es to tha categories o and not a validation or rejection of stat.sse (42 USC 21521) already included in the Agreement. Four "I tin ate pr ams.The eval sti statse are actively seeking such an g
d emindment-Washington. Colorado.
",,ggg,a,,,y," tion is pa.
read as follows:
t process i
Texas, and New Mexico. Barring unforeseen obstacles. the Commission of reviewing such programs for the 3 40.27. General seense to posaee and enticipates that an amendment to the -
Purpose of pecunng amendments to emapose onyproduct materlat.
Agresment will be executed in late Agnemants.Det pmcus is now (a) A general license is hereby issued Navsmber for Washington, in December Proceeding independently of this action. to receive title to, own, possess, and
& Conunission notu that the for Colorado, and early in 1982 for receive byproduct material as defined in Texts. Since complete amendment
]I this Part without regard to form or ng r d
s epir s documentation has not yet been requirements on the generallicensees.
9"*""'Y*
received from New Mexico it is not nor does it impose any other discernible (b) The generallicense in paragraph possible to forecast when an economic burden on Agreement State (a) of this section app!Ies only to emindment can be executed.
source materiallicensees. Accordingly, Persons in Agreement States who hold in addition the Commission is awar*
the Commission certifies under the current Agreement State specific that proposals have been introduced in Regulatory Flexibility Act of f 980, that licenses authorizing activities that result the Congress of the United States to the generallicense will not have a in the production of byproduct material, defer fullimplementation of the significant impact on a substantial including byproduct material possessed Uranium MillTailings Act Agreement number of small entitles. There are no or stored at a State authorized disposal
+
State provisions for about one year, more than a dozen affected persons, containment area or transported including a deferral of the Commission's each a corporation of substance.
Incident to such authorized activity.
eccession to jurisdiction.These The generallicense is being made (c) Each general li::ensee shall comply propmals have been attached to NRC affective'immediately. Notice and pub!!c with all conditions cormrning appropriations legislation that is near procedure are impracticable because of byproduct material contained in the comD ction. Nonetheless.Jhe the immediate need to provide a legal specific license issued by the Agreement i
i Commisson believes that it is desirable basis for the affected Agreement State State and with all applicable State clarify the legal status of uranium mill mill operators to possess and dispose of regulations.
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rators in Agreement States and their tailings. Notice and pub!!c procedure are (d) The general license issued in this t
.dtjonship to the Federal Covernment also unnecessary because the purpose of section shall terminate as to general e
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=n Fed:ral R: gist:r / Vcl. M No. 217 / Tuesday. Novemb:r to.1981/ Rul:s and Regulati:ns 55507 licensees in any given Agrermint St:ta sect!:n 553 of Title 5. United St:tes higher rata ts connIction with paying of upon either of the following events Code.nis action. however, does not interest on 26. week money market takhg place:
require compliance with the rulemaking certificates ("h0.tCs'). Additionally, this 13(
(1) Execution of an amendment to the procedures outlined in 5 U.S.C 553 technical amendment clarifies that State Agreement relinquishing because Part 707:(1) Primarily interest may not be compounded on Commission juris' diction over such by-addresses matters relating to agency MMCs during the term of the depostt ne product material.
management or personnel.which are and that the optional ceiling rate s
- h (2) Upon the date fixed by the exempted by 5 U.S.C 553(a)(2). and (2) determined on the basis of the average Commission in a notice issued to the reiterates existing rights, accorded by of the four bill rates (auction average on generallicensees in an Agreement State the FACA and the Of!1ce of a discount basis) for U.S. Treasury bills based upon a Commission Management and Budget's Circular A-with maturities of 2a weeks established determination that it will not execute an 63, that are unaffected by the removal of and announced at the four auctions held amendment to a State Agreement these regulations.ne Department finds, immediately prior to the date of the relinquishing Commission authority and therefore, in accordance with 5 U.S.C MMC deposit.
that such byproduct material should be 553(b)(3)(B) that notice and public aFysCTive Oars: November 1.1981.
licensed under a specific license issued procedure thereon are unnecessary.
FOR FURTHER INFORMATION CONTACT:
by the Commission.
Finally. 5 U.S.C 553(d) provides that the Dated at Washington. D.C. this 6th day of required publication of a substantive A!!an Schott. Attomey. Advisor.
November. test.
rule b made at least 30 days before its Treasury Department (202/566-6798):
For the Nuclear Regulatory Commission.
effective date; however, the Department John Harry Jorgenson. Senior Attorney.
Board of Covernors of the Federal of Energy has determined that the I chilk, removal of these regulations from the Reserve Systr.m (202/452-3778); F.
Secretary ofthe Commission.
Code of FederalRegulations does not Doug!as Birdzell. Counsel Federal ino es-saste ru.dida.enus3 l constitute a substantive rule.
Deposit Insurance Corporation (202/
ses caos rusms This action has been reviewed in 389-4324):Rebecca Laird. Senior accordance with Executive Order 12291.
Associate General Counsel. Federal issued February 17.1981, and it has been Home loan Bank Board (202/377-4446);
DEPARTMENT OF ENERGY determined that it does not constitute a orDavid Ansell Attorney. Office of the 10 CFR Part 707 major rule within the meaning of the Comptro!!er of the Currency (202/447-Executive Order.
1880).
In consideration of the foregoing. Part sUppt.tMENTARY INFORM ATION:On Advisory Committees; Removal 707 of Chapter II. Title to of the Code of September 22.1981, the Committee AOCNCV: Department of Energy.
Federal Regulations is hereby removed.
adopted a final rule, effective November ACTION: Final rule-Issued in Washington. D.C. November 2.
1.1981, concerning the maximum test.
interest payable on MMCs.The rule
(
SUMMARY
- Dis rule removes to CIR James B. Edwards, provides that depository institutions Part 707. entitled " Advisory may pay interest on any nonnegotiable Committees.of the Department of 8'catary.
time deposit of $10.000 or more with a Energy regulations.The regulations PART 707-ADVISORY COMMITTEES maturity of 28 weeks at a fixed interest contamed in Part 707 substantially
[ REMOVED) rate ceiling indexed to the higher of reiterate the requirements of the Federal either (a) The rate for 26. week United Advisory Committee Act(FACA).5 For the reasons set out in the States Treasury bills auctioned U.S.C Appendix 1. and are, therefore, preamble. Fart 707. Chapt" II of Title 10 immediately prior to the date of deposit, unnecessary.
of the Code of Federal Regulatfor 4 is or (b) a moving average of the discount aFFactivt OATE: November 10.1981.
hereby removed.
rate based on the four auction average FOR FURTHER INFORMATION CONTACT:
(Department of Energy Organization Act rates (discount basis) for 26. week U.S.
Georgia Hildreth. Chief. Advisory (Pub. L 95-91. 91 Stat. 565) (42 U.S C. 7251.
Treasury bills established and Committee Management Branch.
72541) announced at the four auctions held Department of Energy.1000
[rR oor. shtass3 rned 1144t aes ml immediately prior to the date of deposit.
Independence Ave S.W., Washington, suo cooe sese.***'
The Committee adopted this rule to D.C 20585,202-252-5187.
provide an alternative method of Calculating MMC rate ceilings to enable SUPPLEMENTARY INFORMATION: %ese DEPOSITORY INSTITUTIONS depository institutions to be more regulations are being removed from the DERENTION COMMITTEE competitive with money market mutual Code of Federal Regulations in funds and other market instruments, accordance with President Reagan's 12 CFR Part 1204 especially during a period of declining agenda for regulatory relief. Pursuant to section 501(c) of the Department of (Docket No.D-0021) rates.
Energy Organization Act(DOEOA).I His amendment is intended to clarify have determined thst no substantial Ceiling Rates for 26. Week Money the intent of the Committee that the Market Certificates other rules concerning MMCs remain in issue of fact or law exists and that this action will not have a suestantial impact AoENcy: Depository Institutions effect. Consequently, depository on the Nation's economy or large Deregulation Committee.
Institutions rmry not round any interest Action: Technical amendment to final rate to the next higher rate, and the numbers ofindividuals or businesses.
. Accordingly, the, Department of Energy rule
- prohibition on. compounding interest on is not bound by the prior notice and MMCs during the term of the deposit hearing requirements of section 501 (b).
SUMMARY
- This technical amendment also continues. These provisions were
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(c), and (d) of the DOEOA and may clarifies that deposito.y institutions may omitted inadvertently in the Federal promulgate this ru!e in accordance with not round any interest rate to the next Register document previously published A
_ _ _ _ _ _ _. _ _ _.