ML20059J231

Notice of Proposed Corporate Restructuring

ML20059J231
Person / Time
Site:	Clinton
Issue date:	01/19/1994
From:	Hannon J Office of Nuclear Reactor Regulation
To:
Shared Package
ML20059J191	List: ML20059J188 ML20059J231
References
NUDOCS 9401310406
Download: ML20059J231 (3)

Text

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UNITED STATES NUCLEAR REGULATORY COMMISSION I l

ILLIN0IS POWER COMPANY. ET AL. )

DOCKET NO. 50-461 i

CLINTON POWER STATION. UNIT 1 PROPOSED CORPORATE RESTRUCTVRING Notice is hereby given that the United States Nuclear Regulatory Commission (the Commission) is considering approval under 10 CFR 50.80 of the proposed corporate restructuring of Illinois Power Company (IP), the owner and licensee for the Clinton Power Station, Unit 1. By letter dated November 11, 1993, Sidley & Austin, acting as counsel to IP, informed the Commission that the Board of Directors has proposed a corporate restructuring plan to be presented at the February 9,1994, annual shareholders meeting. If a majority of IP shareholders approve the plan, IP will become a wholly-owned subsidiary of a new holding company, IP Holding Company, effective on or about April 1, 1994. IP would remain as holder of the license for the Clinton Power Station.

If the plan is approved, the common stock of IP will be converted on a share-l for-share basis into common stock of the holding company. According to the proposed plan, the current IP Board of Directors will serve in the same capacity for the holding company, and there will be no significant change in ownership, management, or sources of funds for operation of the Clinton Power l Station.

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> Pursuant to 10 CFR 50.80, the Commission may approve the transfer of control of a license, after-notice to interested persons. Such action is contingent upon the Commission's determination that the holder of the license following the transfer is qualified to have the control of the license and that the transfer of such control is otherwise consistent with applicable provisions of law, regulations and orders of i.he D muission.

Dated at Rockville, Maryland, this ' % ay of ;anuary 1994.

a 72 h ohn N. Hannon, Director Project Directorate III Division of Reactor Projects - III/IV/V Office of Nuclear Reactor Regulation

Pursuant to 10 CFR 50.80, the Comission may approve the transfer of control of a license, after notice to interested persons. Such action is l contingent upon the Comission's determination that the holder of the license i following the transfer is qualified to have the control of the license and l i

that the transfer of such control is otherwise consistent with applicable provisions of law, regulations and orders of the Comission.

Dated at Rockville, Maryland, this j , day of January 1994.

Original signed by John N. Hannon John N. Hannon, Director Project Directorate III-3 Division of Reactor Projects - III/IV/V Office of Nuclear Reactor Regulation-OFFICE LA:PDill-3 PM:PDIll-3 D:PDIfk1 OGC Nb WE MRus h k DPfbkett:dy JHanndnl [# *N3 DATE

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OFFICIAL RECORD COPY d FILENAME: G:\CLINTON\CL88222

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