[Federal Register Volume 63, Number 251 (Thursday, December 31, 1998)]
[Rules and Regulations]
[Pages 72167-72171]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-34131]
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DEPARTMENT OF ENERGY
Federal Energy Regulatory Commission
18 CFR Parts 46 and 131
[Docket No. RM99-4-000; Order No. 601]
Filing Requirements Under Parts 46 and 131 for Persons Holding
Interlocking Directorates
December 18, 1998.
AGENCY: Federal Energy Regulatory Commission.
ACTION: Final rule.
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SUMMARY: The Federal Energy Regulatory Commission. (Commission) is
revising its regulations for filings by persons holding interlocking
directorates. These revisions: delete reference to a provision which no
longer exists; eliminate the need for notarization; simplify and
clarify a form and its instructions; reduce the number of photocopies
to be filed; and permit changes to be made on an electronic version
(presently a diskette) instead of by hand on a printed form. The
Commission believes that, by allowing these revisions, it will improve
administrative efficiency.
EFFECTIVE DATE: January 1, 1999.
FOR FURTHER INFORMATION CONTACT:
Hadas Z. Kozlowski (Legal Information), Office of the General Counsel,
Federal Energy Regulatory Commission, 888 First Street, NE, Washington,
DC 20426, Telephone: (202) 208-1029
Patricia W. Morris (Technical Information), Office of Electric Power
Regulation, Federal Energy Regulatory Commission, 888 First Street, NE,
Washington, DC 20426, Telephone: (202) 208-6990
SUPPLEMENTARY INFORMATION: In addition to publishing the full text of
this document in the Federal Register, the Commission also provides all
interested persons an opportunity to inspect or copy the contents of
this document during normal business hours in the Public Reference Room
at 888 First Street, N.E., Room 2A, Washington, D.C. 20426.
The Commission Issuance Posting System (CIPS) provides access to
the texts of formal documents issued by the Commission. CIPS can be
accessed via Internet through FERC's Homepage (http://www.ferc.fed.us)
using the CIPS Link or the Energy Information Online icon. The full
text of this document will be available on CIPS in ASCII and
WordPerfect 6.1 format. CIPS is also available through the Commission's
electronic bulletin board service at no charge to the user and may be
accessed using a personal computer with a modem by dialing 202-208-
1397, if dialing locally, or 1-800-856-3920, if dialing long distance.
To access CIPS, set your communications software to 19200, 14400,
12000, 9600, 7200, 4800, 2400, or 1200 bps, full duplex, no parity, 8
data bits and 1 stop bit. User assistance is available at 202-208-2474
or by E-mail to [email protected].
The document is also available through the Commission's Records and
Information Management System (RIMS), an electronic storage and
retrieval system of documents submitted to and issued by the Commission
after November 16, 1981. Documents from November 1995 to the present
can be viewed and printed. RIMS is available in the Public Reference
Room or remotely via the Internet through FERC's Homepage using the
RIMS link or the Energy Information Online icon. User assistance is
available at 202-208-2222, or by E-mail to [email protected].
Finally, the complete text on diskette in WordPerfect format may be
purchased from the Commission's copy contractor, RVJ International Inc.
RVJ International Inc., is located in the Public Reference Room at 888
First Street, N.E., Washington, DC 20426.
UNITED STATES OF AMERICA, FEDERAL ENERGY REGULATORY COMMISSION
Before Commissioners: James J. Hoecker, Chairman; Vicky A.
Bailey, William L. Massey, Linda Breathitt, and Curt Hebert, Jr.
Filing Requirements Under Parts 46 and 131 for Persons Holding
Interlocking Directorates
Docket No. RM99-4-000
ORDER NO. 601
FINAL RULE
(Issued December 18, 1998)
I. Introduction
This Final Rule revises Parts 46 and 131 of the Commission's
regulations.1 These revisions simplify and clarify both Part
46 of the regulations and FERC Form No. 561 (Form No. 561), and reduce
from two to one the number of copies of this form which must be filed
along with one original. In addition, the Final Rule encourages, but
does not require, that changes to the so-called pre-filed Form No. 561
2 be made on an electronic version rather than by hand.
Finally, this Final Rule deletes reference, in Part 46, to section
131.60
[[Page 72168]]
of the Commission's regulations, which has been deleted, and eliminates
the need for notarization.
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\1\ 18 CFR Parts 46 and 131.
\2\ Currently, the Commission sends annually to each person
holding an interlocking directorate a copy of the Form No. 561
submitted by that person in the prior year, i.e., a pre-filed Form
No. 561.
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II. Information Collection Statement
The Office of Management and Budget (OMB) regulations require OMB
to approve certain reporting and recordkeeping (collections of
information) imposed by agency rule.3 The collection of
information that is the subject of this Final Rule, Form No. 561, most
recently received OMB approval on December 11, 1998 for the period
through December 31, 2001.
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\3\ 5 CFR 1320.12.
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Respondents subject to the filing requirements of this Final Rule
will not be penalized for failing to respond to these collections of
information, unless the collections of information display a valid OMB
control number.
Title: FERC No. Form 561, Annual Report of Interlocking Positions.
Action: Proposed Data Collection.
OMB Control No.: 1902-0099.
Respondents: Persons who hold certain defined positions with public
utilities.
Frequency of Responses: Annually.
Reporting Burden: There are currently 1600 officers and directors
of public utilities engaged in the generation, transmission, and sale
of electric power who file reports with the Commission on an annual
basis. The Commission estimates an average overall response rate of 0.5
hours, for a total burden of 800 hours (1600 x 1 x 0.5 = 800).
The Final Rule, if adopted, would simplify and streamline the
existing reporting requirements to reduce by one half the burden on
industry.
Necessity of Information: The Final Rule revises the filing
requirements in 18 CFR Part 46 and 131, necessary for fulfilling the
requirements of Section 211 of the Public Utility Regulatory Policies
Act which amended Part III, Section 305 of the Federal Power Act. The
information is collected by the Commission in order to exercise
oversight of interlocking directorates involving public utilities and
their related activities. This oversight is for officers and directors
of public utilities who also hold an officer, director, partner,
appointee, or representative position with any other delineated entity.
The Commission has submitted a copy of this Final Rule to OMB for
informational purposes only.
Interested persons may obtain information on the reporting
requirements by contacting the Federal Energy Regulatory Commission,
888 First Street, N.E., Washington, DC 20426 (Attention: Michael
Miller, Office of the Chief Information Officer, (202) 208-1415), or
send comments to the Office of Management and Budget, Room 10202 NEOB,
Washington, DC 20503 (Attention: Desk Officer for the Federal Energy
Regulatory Commission, (202) 395-3087, fax: (202) 395-7285).
III. Background
Section 305(c) of the Federal Power Act, as amended by section 211
of the Public Utility Regulatory Policies Act of 1978,4
provides that, on or before April 30 of each year, any person who
during the previous calendar year was an officer or director of a
public utility and who held, during such calendar year, the position of
officer, director, partner, appointee, or representative of any other
delineated entity (i.e., an interlocking directorate), shall file with
the Commission a written statement concerning such positions held by
such person. Such statement must be available to the public.
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\4\ 16 U.S.C. Sec. 825d(c).
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Part 46 of the Commission's regulations sets forth these filing
requirements. Section 46.4 requires that each holder of an interlocking
directorate must annually file the information detailed in section
46.6, in the form specified in section 131.31, i.e., Form No. 561.
This Final Rule revises sections 46.6(d) and 131.31.
IV. Discussion
As currently written, section 46.6(d)(1) provides, among other
things, that the original written statement filed by the holder of an
interlocking directorate shall be ``verified under oath in accordance
with Sec. 131.60 of this chapter.'' Section 131.60, however, no longer
exists. Moreover, the Commission does not believe it necessary that
this statement be notarized. Accordingly, the Final Rule removes this
provision.
Similarly, the Commission no longer believes it necessary for the
filed original written statement to be accompanied by two copies; one
is sufficient. Accordingly, the Final Rule amends section 46.6(d)(1) to
require only an original and one copy to be filed.
The Final Rule also amends Form No. 561, at section 131.31,
similarly to eliminate the notarization section and the requirement for
the filing of two copies. Additionally, there are sections on the
current form that are labeled ``DOE USE ONLY,'' which are unnecessary,
and more space is provided for ``FERC Docket Number'' than currently is
necessary. The Final Rule also makes certain minor wording changes to
Form No. 561 and the accompanying instructions to clarify them, and
corrects the title of section 131.31. Consequently, the Final Rule
redesigns Form No. 561 to simplify it, and modifies the accompanying
instructions accordingly.
Finally, the Commission believes that it would be in the public
interest to permit holders of interlocking directorates to make changes
to Form No. 561 electronically, rather than by hand. To accomplish
this, the Final Rule renumbers section 46.6(d)(2) as 46.6(d)(3) and
adds a new section 46.6(d)(2). If this option is selected, the changes
should be made to the pre-filled electronic version provided by the
Commission,5 and filed with the Commission, along with a
signed original printout of that amended form and one copy. The
Commission emphasizes that filing electronic amendments will be
optional, not mandatory, but will be preferred.
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\5\ Presently, ``electronic version'' means the pre-filled
diskette sent annually by the Commission. In the future, however,
the Commission may make alternative methods of electronic filing
available.
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V. National Environmental Policy Act Analysis
The Commission concludes that promulgating this Final Rule does not
represent a major Federal action having a significant adverse effect on
the human environment under the Commission's regulations implementing
the National Environmental Policy Act.6 This Final Rule is
procedural in nature and does not substantially change the effect of
the regulation being amended. In addition, the Final Rule involves
information gathering, analysis, and dissemination. Therefore, this
Final Rule falls within the categorical exemptions provided in the
Commission's regulations.7 Consequently, neither an
environmental impact statement nor an environmental assessment is
required.
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\6\ 42 U.S.C. Sec. 4332.
\7\ 18 CFR 380.4(a)(2)(ii), (a)(5).
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VI. Regulatory Flexibility Act Certification
The Regulatory Flexibility Act (RFA) 8 generally
requires a description and analysis of final rules that will have
significant economic impact on a substantial number of small entities.
Most of the persons holding interlocks required to comply with this
Final Rule are not officers or directors of small entities, as defined
by the RFA. Moreover, this Final Rule is procedural
[[Page 72169]]
and ministerial in nature and will not add any burdens to any entities;
rather it will reduce the burden on all persons to whom it applies.
Therefore, the Commission certifies that promulgating this Final Rule
does not represent a major Federal action having a significant economic
impact on a substantial number of small entities.
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\8\ 5 U.S.C. Sec. 601-612.
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VII. Administrative Findings and Effective Date
Because this rule does not itself alter the substantive rights or
interests of any interested persons, but rather merely reduces the
burden on those persons who must file Form No. 561, the Commission
finds that prior notice and comment are unnecessary under the
Administrative Procedure Act.9
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\9\ 5 U.S.C. Sec. 553(b)(B).
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Because this rule does not alter the substantive rights or
interests of any interested persons but rather relieves a restriction
otherwise applicable to those persons who must file Form No. 561, and
because it reduces the burden on those who must file Form No. 561, the
Commission finds good cause to allow this rule to become effective upon
less than 30 days' notice.10 This Final Rule therefore will
be made effective January 1, 1999.
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\10\ 5 U.S.C. Secs. 553(d)(1), (3).
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VIII. Congressional Notification
The Small Business Regulatory Enforcement Fairness Act of 1996
requires agencies to report to Congress on the promulgation of certain
final rules prior to their effective dates.11 That reporting
requirement does not apply to this Final Rule, however. The Commission
finds that this Final Rule, which reduces the burden on persons who
must file Form No. 561, does not substantially affect the rights or
obligations of non-agency parties, and therefore falls within a
statutory exception for rules relating to agency procedures or
practices that do not substantially affect the rights or obligations of
non-agency parties.12
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\11\ 5 U.S.C. Sec. 801.
\12\ 5 U.S.C. Sec. 804(3)(C).
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List of Subjects in 18 CFR Parts 46 and 131
Antitrust, Electric utilities, Holding Companies, Reporting and
recordkeeping requirements; Electric Power.
By the Commission.
David P. Boergers,
Secretary.
In consideration of the foregoing, the Commission amends Parts 46
and 131, Chapter I, Title 18, Code of Federal Regulations, as set forth
below.
PART 46--PUBLIC UTILITY FILING REQUIREMENTS AND FILING REQUIREMENTS
FOR PERSONS HOLDING INTERLOCKING POSITIONS
1. The authority citation for Part 46 continues to read as follows:
Authority: Federal Power Act, as amended, 16 U.S.C. 792-828c;
Public Utility Regulatory Policies Act of 1978, 16 U.S.C. 2601-2645;
Department of Energy Organization Act; 42 U.S.C. 7101-7352; E.O.
12009, 3 CFR 142 (1978).
2. In Sec. 46.6, paragraph (d)(1) is revised, paragraph (d)(2) is
redesignated as (d)(3), and a new paragraph (d)(2) is added to read as
follows:
Sec. 46.6 Contents of the written statement and procedures for filing.
* * * * *
(d)(1) Each person shall file an original and one copy of such
written statement with the Office of Secretary of the Commission on or
before April 30 of each year immediately following the calendar year
during any portion of which such person held a position described in
Sec. 46.4. The original of such statement shall be dated and signed by
such person. The copy shall bear the date that appeared on the
original; the signature on the copy may be stamped or typed on the
copy.
(2) Instead of submitting changes to the Commission on the pre-
printed Form No. 561 sent annually by the Commission, a person may
choose to make changes to the pre-filled electronic version provided by
the Commission. This electronic version, along with the signed original
and one copy (as required by Paragraph (d)(c)) shall also be filed with
the Commission.
* * * * *
PART 131--FORMS
1. The authority citation for Part 131 continues to read as
follows:
Authority: 16 U.S.C. 791a-825r, 2601-2645; 31 U.S.C. 9701, 42
U.S.C. 7101-7352.
2. Section 131.31 is revised to read as follows:
Sec. 131.31 FERC Form No. 561, Annual report of interlocking
positions.
(See section 46.4 of this chapter.)
BILLING CODE 6717-01-M
[[Page 72170]]
[GRAPHIC] [TIFF OMITTED] TR31DE98.003
BILLING CODE 6717-01-C
[[Page 72171]]
INSTRUCTIONS FOR COMPLETING ANNUAL REPORT OF INTERLOCKING POSITIONS
GENERAL INFORMATION:
Purpose of Report
The data collected by this report will be used by the Federal
Energy Regulatory Commission's staff for the review and oversight of
interlocking positions between public utilities and certain other
entities as described below.
Who Must Submit
This report must be completed by all persons holding
interlocking positions between public utilities and certain other
entities (described in the specific instructions) during any portion
of the calendar year.
When to Submit
Submit this report on or before April 30 of each year for the
preceding calendar year. (For example, the report for the year 1999
would be filed on or before April 30, 2000.)
What and Where to Submit
Submit an original and one (1) copy of this report to: Federal
Energy Regulatory Commission, Office of the Secretary, Attention
FERC 561, 888 First Street NE, Washington, DC 20426
Sanctions
This report is mandatory and is prescribed by Section 305(c)(1)
of the Federal Power Act and 18 CFR 46.4. Failure to report may
result in certain penalties and other sanctions as provided by law.
Where to Send Comments on Public Reporting Burden
The public reporting burden for this collection of information
is estimated to average 0.25 hours per response, including the time
for reviewing the instructions, searching existing data sources,
gathering and maintaining the data needed, and completing and
reviewing the collection of information. Send comments regarding
this burden estimate or any other aspect of this collection of
information to: Federal Energy Regulatory Commission, Attn: Federal
Energy Regulatory Commission Information Clearance Officer, 888
First Street NE, Washington, DC 20426.
You shall not be penalized for failure to respond to this
collection of information unless the collection of information
displays a valid OMB control number.
GENERAL INSTRUCTIONS
1. Prepare this report in conformity with the requirements
prescribed in 18 CFR 46.4.
2. Leave blank any columns that are not applicable.
SPECIFIC INSTRUCTIONS
Item and Instruction
Respondent Information
1 and 2 Enter your full name and your business address.
3 Enter the calendar year for which this report is filed.
4 and 5 If you are authorized by this Commission to hold the
position of officer or director in accordance with Part 45 of the
Commission's regulations: enter in space 4 the complete FERC docket
number of such authorization; enter in space 5 the latest date of
such authorization. Otherwise, leave these spaces blank.
6 Enter the public utility or public utility holding company to
which you want next year's Form 561 sent.
Public Utility Data
Col (1) and Col (2) Enter in column (1) the name of each public
utility in which you hold an executive position. In column (2) enter
the appropriate code for each such position, according to the list
below:
Code and Name
Dir Director
CEO Chief Executive Officer
PRES President
VP Vice President
SEC Secretary
TREA Treasurer
GM General Manager
COMP Comptroller
PURA Chief Purchasing Agent
OEP Other Executive Position
Interlocking Entity Data
Col (3) and Col (4) Enter in Column (3) the name of each entity in
which you hold an interlocking position. Enter the appropriate code
for each executive position you hold in the entity named in Column
(3), using the list below:
Code and Name
DIR Director
CEO Chief Executive Officer
PRES President
VP Vice President
SEC Secretary
TREA Treasurer
GM General Manager
COMP Comptroller
PURA Chief Purchasing Agent
PART Partner
APPT Appointee
REP Representative
OEP Other Executive Position
Col (5) Enter in Column (5) the appropriate code type for each
entity listed in Column (3), using the list below:
Code and Name
FIN Investment bank; bank holding company; foreign bank or
subsidiary thereof doing business in the United States; other
organization primarily engaged in the business of providing
financial services or credit; mutual savings bank; or savings and
loan association
FINI Insurance company
SECU Entity authorized by law to underwrite or participate in the
marketing of securities of a public utility
ELEQ Entity which produces/supplies electric equipment for the use
of any public utility
FUEL Entity which produces/supplies coal, natural gas, nuclear
fuel, or other fuel for the use of any public utility
20CL Entity specified in 18 CFR 46.3 (one of the 20 largest
purchasers of electric energy from a utility)
CNEN Entity which is controlled by any one of the above named
entities
305B Entity referred to in Section 305(b) of the Federal Power Act
(not otherwise identified above)
Col (6) For each entity that supplies electric equipment (ELEQ)
named in Column (3) enter the aggregate amount of revenues from
producing or supplying electrical equipment to any public utility
named in column (1) in the subject calendar year, rounded to the
nearest $100,000. Otherwise, leave this column blank.
Signature The original of this report must be dated and signed. The
copy must bear the date that appeared on the original. The signature
on the copy may be stamped or typed on the copy.
[FR Doc. 98-34131 Filed 12-30-98; 8:45 am]
BILLING CODE 6717-01-P