[Federal Register Volume 63, Number 9 (Wednesday, January 14, 1998)]
[Notices]
[Page 2212]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-825]


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DEPARTMENT OF COMMERCE

International Trade Administration


Export Trade Certificate of Review

AGENCY: International Trade Administration, Commerce.

ACTION: Notice of revocation of Export Trade Certificate of Review No. 
88-00002.

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SUMMARY: The Secretary of Commerce issued an export trade certificate 
of review to Olde South Traders, Inc. Because this certificate holder 
has failed to file an annual report as required by law, the Secretary 
is revoking the certificate. This notice summarizes the notification 
letter sent to Olde South Traders, Inc.

FOR FURTHER INFORMATION CONTACT: Morton Schnabel, Acting Director, 
Office of Export Trading Company Affairs, International Trade 
Administration, 202/482-5131. This is not a toll-free number.

SUPPLEMENTARY INFORMATION: Title III of the Export Trading Company Act 
of 1982 (``the Act'') (Pub. L. 97-290, 15 U.S.C. 4011-21) authorizes 
the Secretary of Commerce to issue export trade certificates of review. 
The regulations implementing Title III (``the Regulations'') are found 
at 15 CFR part 325 (1997). Pursuant to this authority, a certificate of 
review was issued on May 23, 1988 to Olde South Traders, Inc.
    A certificate holder is required by law to submit to the Department 
of Commerce annual reports that update financial and other information 
relating to business activities covered by its certificate (Section 308 
of the Act, 15 U.S.C. 4018, Sec. 325.14(a) of the Regulations, 15 CFR 
325.14(a)). The annual report is due within 45 days after the 
anniversary date of the issuance of the certificate of review 
(Sec. 325.14(b) of the Regulations, 15 CFR 325.14(b)). Failure to 
submit a complete annual report may be the basis for revocation 
(Sec. 325.10(a) and 325.14(c) of the Regulations, 15 CFR 325.10(a)(3) 
and 325.14(c)).
    On May 13, 1997, the Department of Commerce sent to Olde South 
Traders, Inc. a letter containing annual report questions with a 
reminder that its annual report was due on July 7, 1997. Additional 
reminders were sent on August 7, 1997 and on September 12, 1997. The 
Department has received no written response from Olde South Traders, 
Inc. to any of these letters.
    On November 20, 1997, and in accordance with Sec. 325.10(c)(1) of 
the Regulations, (15 CFR 325.10(c)(1)), the Department of Commerce sent 
a letter by certified mail to notify Olde South Traders, Inc. that the 
Department was formally initiating the process to revoke its 
certificate for failure to file an annual report. In addition, a 
summary of this letter allowing Olde South Traders, Inc. thirty days to 
respond was published in the Federal Register on November 26, 1997 at 
62 FR 63074. Pursuant to 325.10(c)(2) of the Regulations (15 CFR 
325.10(c)(2)), the Department considers the failure of Olde South 
Traders, Inc. to respond to be an admission of the statements contained 
in the notification letter.
    The Department has determined to revoke the certificate issued to 
Olde South Traders, Inc. for its failure to file an annual report. The 
Department has sent a letter, dated January 8, 1998, to notify Olde 
South Traders, Inc. of its determination. The revocation is effective 
thirty (30) days from the date of publication of this notice. Any 
person aggrieved by this decision may appeal to an appropriate U.S. 
district court within 30 days from the date on which this notice is 
published in the Federal Register (325.10(c)(4) and 325.11 of the 
Regulations, 15 CFR 324.10(c)(4) and 325.11 of the Regulations, 15 CFR 
325.10(c)(4) and 325.11).

    Dated: January 8, 1998.
Morton Schnabel,
Acting Director, Office of Export Trading Company Affairs.
[FR Doc. 98-825 Filed 1-13-98; 8:45 am]
BILLING CODE 3510-DR-P