[Federal Register Volume 59, Number 240 (Thursday, December 15, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-30821]


[[Page Unknown]]

[Federal Register: December 15, 1994]


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DELAWARE RIVER BASIN COMMISSION

18 CFR Part 420

 

Water Supply Charges; Amendments to Comprehensive Plan and Basin 
Regulations

AGENCY: Delaware River Basin Commission.
ACTION: Final rule.

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SUMMARY: At its December 7, 1994 business meeting, the Delaware River 
Basin Commission amended its Comprehensive Plan and Basin Regulations--
Water Supply Charges concerning the transfer of Certificates of 
Entitlement. Holders of Certificates of Entitlement are exempted from 
the payment of water charges until such Certificates are transferred. 
The amendments define ``transfer''; delete two categories of exemptions 
from the existing general rule that terminates Certificates of 
Entitlement upon transfer; and revise a third such category.

EFFECTIVE DATE: December 7, 1994.

ADDRESSES: Copies of the Commission's Basin Regulations--Water Supply 
Charges are available from the Delaware River Basin Commission, P.O. 
Box 7360, West Trenton, New Jersey 08628.

FOR FURTHER INFORMATION CONTACT: Susan M. Weisman, Commission 
Secretary, Delaware River Basin Commission: Telephone (609) 883-9500 
ext. 203.

SUPPLEMENTARY INFORMATION: As noticed in the August 5, 1994 (59 FR 
39991) and October 19, 1994 (59 FR 52766) issues of the Federal 
Register, the Commission held a public hearing on the proposed 
amendments on October 26, 1994. At that hearing, the comment period was 
extended to include written statements received through November 9, 
1994. Based upon testimony received and considerable deliberation, the 
Commission has amended its Comprehensive Plan and Basin Regulations--
Water Supply Charges.

List of Subjects in 18 CFR Part 420

    Water supply.

PART 420--[AMENDED]

     1. The authority citation for 18 CFR Part 420 is revised to read 
as follows:

    Authority: Delaware River Basin Compact, 75 Stat. 688.

    2. In section 420.31 paragraphs (d) and (f) are revised to read as 
follows:


Sec. 420.31  Certificate of entitlement.

* * * * *
    (d) A certificate of entitlement is not transferable, except as 
provided in paragraphs (e) and (f) of this section. For the purposes of 
this section, ``transfer'' shall mean any sale or other conveyance by a 
holder of a certificate of entitlement involving a specific facility 
and shall include any transfer which results in a change of ownership 
and/or control of the facility or of the stock, or other indicia of 
ownership of a corporation which holds title to the facility.
* * * * *
     (f) A certificate of entitlement may be transferred in connection 
with a corporate reorganization within any of the following categories:
    (1) Whenever property is transferred to a corporation by one or 
more persons solely in exchange for stock or securities of the same 
corporation, provided that immediately after the exchange the same 
person or persons are in control of the transferee corporation; that 
is, they own 80 percent of the voting stock and 80 percent of all other 
stock of the corporation; or
    (2) Where such transfer is merely a result of a change of the name, 
identify, internal corporate structure or place of organization of a 
corporate holder of a certificate of entitlement and does not affect 
ownership and/or control.

    Dated: December 9, 1994.
Susan M. Weisman,
Secretary.
[FR Doc. 94-30821 Filed 12-14-94; 8:45 am]
BILLING CODE 6360-01-U