[Federal Register Volume 65, Number 54 (Monday, March 20, 2000)]
[Notices]
[Page 15030]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-6830]



[[Page 15030]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-27153]


Filings Under the Public Utility Holding Company Act of 1935, as 
Amended (``Act'')

March 14, 2000.
    Notice is hereby given that the following filing(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated under the Act. All interested persons are referred to the 
application(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendment(s) is/are available for public 
inspection through the Commission's Branch of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
application(s) and/or declaration(s) should submit their views in 
writing by April 4, 2000, to the Secretary, Securities and Exchange 
Commission, Washington, D.C. 20549-0609, and serve a copy on the 
relevant applicant(s) and/or declarant(s) at the address(es) specified 
below. Proof of service (by affidavit or, in the case of an attorney at 
law, by certificate) should be filed with the request. Any request for 
hearing should identify specifically the issues of facts or law that 
are disputed. A person who so requests will be notified of any hearing, 
if ordered, and will receive a copy of any notice or order issued in 
the matter. After April 4, 2000, the application(s) and/or 
declaration(s), as filed or as amended, may be granted and/or permitted 
to become effective.

SCANA Corporation (70-9639)

    SCANA Corporation (``SCANA''), 1426 Main Street, Columbia, South 
Carolina 29201, a registered holding company, and SCANA Services, Inc. 
(collectively ``Declarants'') have filed a declaration under sections 
6(a), 7, and 12(e) of the Act and rules 62 and 65 under the Act.
    Declarants propose to issue, over a period of three years, up to 
five million shares of its no par value common stock (``Common Stock'') 
for distribution to participants in SCANA's Long-Term Equity 
Compensation Plan (``Plan'') by a variety of means. SCANA also seeks 
authorization to solicit proxies regarding approval of the Plan at 
SCANA's 2000 Annual Meeting of Shareholders.
    Under the Plan, SCANA will offer long-term compensation to the 
directors of SCANA and its affiliates, as well as to employees of these 
companies who are selected as significant contributors to the success 
of their company (``Key Employees''). Five types of long-term 
compensation are awardable: stock options, stock appreciation rights 
(``SARs''), restricted stock, performance stock, and performance units 
(collectively ``Equity Compensation'').
    Declarants explain that the Plan, which links Plan participants' 
interests to those of shareholders, is designed to optimize the 
profitability and growth of SCANA by (1) allowing Plan participants to 
share in the successes of SCANA; (2) providing Plan participants 
incentives to achieve excellence in their individual performances and 
promote teamwork; and (3) allowing SCANA to motivate, attract, and 
retain the services of Plan participants.
    The Plan will remain in effect until all options and rights granted 
under the Plan have been satisfied or terminated in accordance with the 
terms of the Plan, and all performance-based awards granted under the 
Plan have been completed. In no event, however, shall Equity 
Compensation be awarded on or after December 31, 2009.
    The Plan was approved by the Board on February 22, 2000 but has not 
yet been approved by SCANA's shareholders. Declarants propose to submit 
the Plan to SCANA shareholders for consideration and action on April 
27, 2000 and, correspondingly, intend to solicit proxies from SCANA 
shareholders. SCANA therefore requests that its declaration regarding 
the solicitation of proxies be permitted to become effective as soon as 
practicable, as provided in Rule 62(d).
    It is stated that no State or federal commission, other than this 
Commission, has jurisdiction over the proposed transactions.
    It appearing to the Commission that Declarants' declaration 
regarding the proposed solicitation of proxies should be permitted to 
become effective immediately, under rule 62:
    It is ordered, that the declaration regarding the proposed 
solicitation of proxies be, and hereby is, permitted to become 
effective immediately under rule 62 and subject to the terms and 
conditions prescribed in rule 24 under the Act. The Commission reserves 
jurisdiction over all other matters contained in the Declaration.

    For the Commission, by the Division of Investment Management, 
under delegated authority.


Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-6830 Filed 3-17-00; 8:45 am]
BILLING CODE 8010-01-M