Académique Documents
Professionnel Documents
Culture Documents
VerDate 04<JAN>2000 19:43 Jan 25, 2000 Jkt 190000 PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 E:\FR\FM\26JAN1.SGM pfrm11 PsN: 26JAN1
Federal Register / Vol. 65, No. 17 / Wednesday, January 26, 2000 / Notices 4263
between the party in interest to a plan agencies with an opportunity to are to respond, including through the
and the insurance company pooled comment on proposed and continuing use of appropriate automated,
separate account be kept by the collections of information in accordance electronic, mechanical, or other
insurance company for six years from with the Paperwork Reduction Act of technological collection techniques or
the date of the transaction. The majority 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)). other forms of information technology,
of this recordkeeping is considered to be This helps to ensure that requested data e.g., permitting electronic submission of
usual business practice in the insurance can be provided in the desired format, responses.
industry. Without this ICR, the report burden (time and financial
resources) is minimized, collection III. Current Action
Department would be unable to
effectively enforce the terms of the instruments are clearly understood, and This existing collection of information
exemption, insure user compliance, and the impact of collection requirements on should be continued because without
protect the interests of participants and respondents can be properly assessed. the relief provided by this exemption,
beneficiaries. Currently, the Pension and Welfare foreign exchange transactions between a
Type of Review: Extension of Benefits Administration is soliciting bank or an affiliate thereof and an
currently approved collections of comments concerning the extension of employee benefit plan with respect to
information. the information collection requests (ICR) which the bank or an affiliate is a
Agency: Pension and Welfare Benefits incorporated in Prohibited Transaction trustee, custodian, fiduciary, or other
Administration. Class Exemption 94–20, Purchases and party in interest would violate certain
Title: Prohibited Transaction Sales of Foreign Currencies. A copy of provisions of the Act. Specifically,
Exemption 90–1—Pooled Separate the ICR may be obtained by contacting individuals or entities which are parties
Accounts. the office listed in the addresses section in interest with respect to a plan would
OMB Number: 1210–0083. of this notice. not be permitted to engage in a purchase
Recordkeeping: Six years. DATES: Written comments must be or sale of foreign currencies between the
Affected Public: Individuals or submitted to the office shown in the bank, broker-dealer, or a affiliate thereof
households; Business or other for-profit; addresses section below on or before and an employee benefit plan, thus
Not-for-profit institutions. March 27, 2000. creating a potential hardship to those
Total Respondents: 128. ADDRESSES: Gerald B. Lindrew, Office of affected. The exemption has one basic
Average Time per Response: 5 Policy and Research, U.S. Department of information collection condition—the
minutes. Labor, Pension and Welfare Benefits bank or broker-dealer or affiliates
Estimated Total Burden Hours: 11 Administration, 200 Constitution thereof are required to maintain within
hours. Avenue, NW, Room N–5647, territories under the jurisdiction of the
This notice requests comments on the Washington, D.C. 20210. Telephone: United States Government, for a period
extension of the ICR included in (202) 219–4782; Fax: (202) 219–4745. of six years from the date of the
Prohibited Transaction Class Exemption These are not toll-free numbers. transaction, records of the foreign
90–1. The Department is not proposing SUPPLEMENTARY INFORMATION: exchange transaction. Without such
or implementing changes to the existing records, the Department would be
ICR at this time. Comments received in I. Background
unable to effectively enforce the terms
response to this notice will be Prohibited Transaction Class of the exemption, insure user
summarized and/or incorporated in the Exemption 94–20 permits the purchase compliance, and protect the interests of
submission to OMB for continued and sale of foreign currencies between employee benefit plan participants and
clearance of the ICR; they will also an employee benefit plan and a bank or beneficiaries.
become a matter of public record. a broker-dealer or an affiliate thereof Type of Review: Extension of
Dated: January 20, 2000. that is a party in interest with respect to currently approved collections of
such plan. In the absence of this information.
Gerald B. Lindrew,
exemption, certain aspects of these Agency: Pension and Welfare Benefits
Deputy Director, Office of Policy and
transactions could be prohibited by Administration.
Research, Pension and Welfare Benefits
Administration. section 406(a) of the Employee Title: Prohibited Transaction Class
Retirement Security Act of 1974 (the Exemption 94–20, Purchases and Sales
[FR Doc. 00–1782 Filed 1–25–00; 8:45 am]
Act). of Foreign Currencies.
BILLING CODE 4510–29–M
II. Desired Focus of Comments OMB Number: 1210–0085.
The Department is particularly Recordkeeping: Six years.
DEPARTMENT OF LABOR interested in comments which— Affected Public: Individuals or
• Evaluate whether the proposed households; Business or other for-profit;
Pension and Welfare Benefits Not-for-profit institutions.
collection of information is necessary
Administration Total Respondents: 35.
for the proper performance of the
functions of the agency, including Average Time per Response: 5
Proposed Extension of Information minutes.
Collection; Comment Request; whether the information will have
practical utility; Total Responses: 175.
Prohibited Transaction Exemption 94–
20 • Evaluate the accuracy of the Estimated Total Burden Hours: 15.
agency’s estimate of the burden of the This notice requests comments on the
ACTION: Notice. proposed collection of information, extension of the ICR included in
including the validity of the Prohibited Transaction Class Exemption
SUMMARY: The Department of Labor (the methodology and assumptions used; 94–20. The Department is not proposing
Department), as part of its continuing • Enhance the quality, utility, and or implementing changes to the existing
effort to reduce paperwork and clarity of the information to be ICR at this time. Comments submitted in
respondent burden, conducts a collected; and response to this notice will be
preclearance consultation program to • Minimize the burden of the summarized and/or included in the
provide the general public and Federal collection of information on those who request for OMB approval of the
VerDate 04<JAN>2000 19:43 Jan 25, 2000 Jkt 190000 PO 00000 Frm 00038 Fmt 4703 Sfmt 4703 E:\FR\FM\26JAN1.SGM pfrm11 PsN: 26JAN1