[Federal Register Volume 59, Number 18 (Thursday, January 27, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-1695]


[[Page Unknown]]

[Federal Register: January 27, 1994]


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NUCLEAR REGULATORY COMMISSION
[Docket No. 50-461]

 

Illinois Power Co., et al., Clinton Power Station, Unit 1; 
Proposed Corporate Restructuring

    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-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 Station.
    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 the Commission.

    Dated at Rockville, Maryland, this 19th day of January 1994.
John N. Hannon,
Director, Project Directorate III-3, Division of Reactor Projects--III/
IV/V, Office of Nuclear Reactor Regulation.
[FR Doc. 94-1695 Filed 1-26-94; 8:45 am]
BILLING CODE 7590-01-M