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Federal Register / Vol. 73, No.

1 / Wednesday, January 2, 2008 / Notices 217

an index-linked security, listed on the to be listed and traded on a national ACTION: Notice of final action regarding
Exchange pursuant to sections 703.19 or securities exchange.9 Further, the amendments to Policy Statement
703.22 of the Listed Company Manual, Commission notes that requiring a letter § 1B1.10, effective March 3, 2008.
in connection with the transfer of the from an authorized executive officer
listing of the security to another would ensure the issuer properly made SUMMARY: The Sentencing Commission
national securities exchange, would the delisting decision and complied hereby gives notice of amendments to a
need to provide to the Exchange a letter with applicable laws in effect in its policy statement and commentary made
signed by an authorized executive jurisdiction, consistent with investor pursuant to its authority under 28
officer of the issuer setting forth the protection and the public interest. The U.S.C. 994(a) and (u). The Commission
reasons for the delisting. The issuer of Exchange further represented that the promulgated an amendment to Policy
an index-linked security is required to issuers informed the Exchange that Statement § 1B1.10 (Reduction in Term
comply with all other aspects of section under the laws of their place of of Imprisonment as a Result of
806.02 of the Listed Company Manual incorporation, no board of directors Amended Guideline Range) clarifying
and Rule 12d2–2(c) under the Act, resolutions are required. when, and to what extent, a sentencing
which requires, among other things, that The Commission notes that since the reduction is considered consistent with
issuers comply with all applicable laws securities would list and trade on the policy statement and therefore
in effect in the state in which they are another national securities exchange, authorized under 18 U.S.C. 3582(c)(2).
incorporated. The Commission also has reviewed
transparent last sale information will
In addition, the Exchange is deleting amendments submitted to Congress on
continue to be disseminated on the
obsolete rule text from section 806.02 of May 1, 2007, that may result in a lower
securities on an uninterrupted basis. It
the Listed Company Manual. guideline range and has designated
would also ensure the other protections
Amendment 706, as amended by
III. Discussion and Commission for trading a security on a national
Amendment 711, for inclusion in Policy
Findings securities exchange remain, such as the
Statement § 1B1.10 as an amendment
The Commission finds that the periodic reporting obligations under the
that may be applied retroactively.
proposed rule change is consistent with Act.
DATES: The effective date of these policy
the requirements of the Act and the Finally, the Commission finds
deletion of the obsolete language is statement and commentary amendments
rules and regulations applicable to a is March 3, 2008.
national securities exchange, and in consistent with the requirements of the
Act. The language to be deleted is no FOR FURTHER INFORMATION CONTACT:
particular, with the requirements of
longer in effect since the Commission Michael Courlander, Public Information
section 6(b) of the Act.5 Specifically, the
approved NYSE rules to comply with Officer, Telephone: (202) 502–4597.
Commission finds that the proposed
rule change is consistent with section the July 2005 amendments to Rule SUPPLEMENTARY INFORMATION: The
6(b)(5) of the Act 6 in that it is designed 12d2–2 under the Act. United States Sentencing Commission is
to promote just and equitable principles Based on the above reasons, the an independent agency in the judicial
of trade, to foster cooperation and Commission finds that the proposal is branch of the United States
coordination with persons engaged in consistent with the requirements of the Government. The Commission
regulating, clearing, settling, processing Act. promulgates sentencing guidelines and
information with respect to, and policy statements for federal sentencing
IV. Conclusion courts pursuant to 28 U.S.C. 994(a). The
facilitating transactions in securities,
and to remove impediments to and It is therefore ordered, pursuant to Commission also periodically reviews
perfect the mechanism of a free and section 19(b)(2) of the Act,10 that the and revises previously promulgated
open market and a national market proposed rule change (SR–NYSE–2007– guidelines pursuant to 28 U.S.C. 994(o),
system, and, in general, to protect 99) is hereby approved. and specifies in what circumstances and
investors and the public interest. For the Commission, by the Division of
by what amount sentences of
The Commission notes that requiring Trading and Markets, pursuant to delegated imprisonment may be reduced if the
a letter from an authorized executive authority.11 Commission reduces the term of
officer instead of a certified copy of the Nancy M. Morris, imprisonment recommended in the
resolutions adopted by the issuer’s Secretary.
guidelines applicable to a particular
board of directors is consistent with the offense or category of offenses pursuant
[FR Doc. E7–25446 Filed 12–31–07; 8:45 am]
requirements of Rule 12d2–2 under the to 28 U.S.C. 994(u).
BILLING CODE 8011–01–P
Act 7 and notes that the proposal is Additional information may be
similar to the voluntary withdrawal accessed through the Commission’s Web
procedures for dually-listed issuers on site at http://www.ussc.gov.
NYSE Arca, Inc.8 Replacing the board Authority: 28 U.S.C. 994(a), (u).
UNITED STATES SENTENCING
certification requirement with a letter
COMMISSION Ricardo H. Hinojosa,
from an authorized executive officer
may ease the burden on issuers of Chair.
Sentencing Guidelines for the United
index-linked securities who wish to States Courts 1. Amendment: Chapter One, Part B,
transfer the listing to another national Subpart One, is amended by striking
securities exchange. The Commission AGENCY:United States Sentencing § 1B1.10 and its accompanying
notes that the security would continue Commission. commentary and inserting the
following:
5 15 U.S.C. 78f(b). In approving the proposed rule 9 In its filing, the Exchange represented that it
• ‘‘§ 1B1.10. Reduction in Term of
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change, as amended, the Commission considered does not plan to list any more index-linked
the proposed rule’s impact on efficiency,
Imprisonment as a Result of Amended
securities and the issuers of all listed index-linked
competition, and capital formation. 15 U.S.C. 78c(f). securities have agreed to the Exchange’s request to Guideline Range (Policy Statement)
6 15 U.S.C. 78f(b)(5). transfer the listing to NYSE Arca, Inc. (a) Authority.—
7 17 CFR 240.12d2–2. 10 15 U.S.C. 78s(b)(2). (1) In General.—In a case in which a
8 See NYSE Arca Equities Rule 5.4(b). 11 17 CFR 200.30–3(a)(12). defendant is serving a term of

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218 Federal Register / Vol. 73, No. 1 / Wednesday, January 2, 2008 / Notices

imprisonment, and the guideline range original term of imprisonment only within the limits described in
applicable to that defendant has constituted a non-guideline sentence subsection (b).
subsequently been lowered as a result of determined pursuant to 18 U.S.C. 2. Application of Subsection (b)(1).—
an amendment to the Guidelines 3553(a) and United States v. Booker, 543 In determining the amended guideline
Manual listed in subsection (c) below, U.S. 220 (2005), a further reduction range under subsection (b)(1), the court
the court may reduce the defendant’s generally would not be appropriate. shall substitute only the amendments
term of imprisonment as provided by 18 (C) Prohibition.—In no event may the listed in subsection (c) for the
U.S.C. 3582(c)(2). As required by 18 reduced term of imprisonment be less corresponding guideline provisions that
U.S.C. 3582(c)(2), any such reduction in than the term of imprisonment the were applied when the defendant was
the defendant’s term of imprisonment defendant has already served. sentenced. All other guideline
shall be consistent with this policy (c) Amendments covered by this application decisions remain
statement. policy statement are listed in Appendix unaffected.
(2) Exclusions.—A reduction in the C as follows: 126, 130, 156, 176, 269, 3. Application of Subsection (b)(2).—
defendant’s term of imprisonment is not 329, 341, 371, 379, 380, 433, 454, 461, Under subsection (b)(2), the amended
consistent with this policy statement 484, 488, 490, 499, 505, 506, 516, 591, guideline range determined under
and therefore is not authorized under 18 599, 606, 657, and 702. subsection (b)(1) and the term of
U.S.C. 3582(c)(2) if— imprisonment already served by the
(A) None of the amendments listed in Commentary defendant limit the extent to which the
subsection (c) is applicable to the Application Notes: court may reduce the defendant’s term
defendant; or 1. Application of Subsection (a).— of imprisonment under 18 U.S.C.
(B) An amendment listed in (A) Eligibility.—Eligibility for 3582(c)(2) and this policy statement.
subsection (c) does not have the effect consideration under 18 U.S.C. Specifically, if the original term of
of lowering the defendant’s applicable 3582(c)(2) is triggered only by an imprisonment imposed was within the
guideline range. guideline range applicable to the
amendment listed in subsection (c) that
(3) Limitation.—Consistent with defendant at the time of sentencing, the
lowers the applicable guideline range.
subsection (b), proceedings under 18 court shall not reduce the defendant’s
Accordingly, a reduction in the
U.S.C. 3582(c)(2) and this policy term of imprisonment to a term that is
defendant’s term of imprisonment is not
statement do not constitute a full less than the minimum term of
authorized under 18 U.S.C. 3582(c)(2)
resentencing of the defendant. imprisonment provided by the amended
(b) Determination of Reduction in and is not consistent with this policy
guideline range determined under
Term of Imprisonment.— statement if: (i) None of the
subsection (b)(1). For example, in a case
(1) In General.—In determining amendments listed in subsection (c) is
in which: (A) The guideline range
whether, and to what extent, a reduction applicable to the defendant; or (ii) an
applicable to the defendant at the time
in the defendant’s term of imprisonment amendment listed in subsection (c) is of sentencing was 41 to 51 months; (B)
under 18 U.S.C. 3582(c)(2) and this applicable to the defendant but the the original term of imprisonment
policy statement is warranted, the court amendment does not have the effect of imposed was 41 months; and (C) the
shall determine the amended guideline lowering the defendant’s applicable amended guideline range determined
range that would have been applicable guideline range because of the operation under subsection (b)(1) is 30 to 37
to the defendant if the amendment(s) to of another guideline or statutory months, the court shall not reduce the
the guidelines listed in subsection (c) provision (e.g., a statutory mandatory defendant’s term of imprisonment to a
had been in effect at the time the minimum term of imprisonment). term less than 30 months.
defendant was sentenced. In making (B) Factors for Consideration.— If the original term of imprisonment
such determination, the court shall (i) In General.—Consistent with 18 imposed was less than the term of
substitute only the amendments listed U.S.C. 3582(c)(2), the court shall imprisonment provided by the guideline
in subsection (c) for the corresponding consider the factors set forth in 18 range applicable to the defendant at the
guideline provisions that were applied U.S.C. 3553(a) in determining: (I) time of sentencing, a reduction
when the defendant was sentenced and whether a reduction in the defendant’s comparably less than the amended
shall leave all other guideline term of imprisonment is warranted; and guideline range determined under
application decisions unaffected. (II) the extent of such reduction, but subsection (b)(1) may be appropriate.
(2) Limitations and Prohibition on only within the limits described in For example, in a case in which: (A) The
Extent of Reduction.— subsection (b). guideline range applicable to the
(A) In General.—Except as provided (ii) Public Safety Consideration.—The defendant at the time of sentencing was
in subdivision (B), the court shall not court shall consider the nature and 70 to 87 months; (B) the defendant’s
reduce the defendant’s term of seriousness of the danger to any person original term of imprisonment imposed
imprisonment under 18 U.S.C. or the community that may be posed by was 56 months (representing a
3582(c)(2) and this policy statement to a reduction in the defendant’s term of downward departure of 20 percent
a term that is less than the minimum of imprisonment in determining: (I) below the minimum term of
the amended guideline range Whether such a reduction is warranted; imprisonment provided by the guideline
determined under subdivision (1) of this and (II) the extent of such reduction, but range applicable to the defendant at the
subsection. only within the limits described in time of sentencing); and (C) the
(B) Exception.—If the original term of subsection (b). amended guideline range determined
imprisonment imposed was less than (iii) Post-Sentencing Conduct.—The under subsection (b)(1) is 57 to 71
the term of imprisonment provided by court may consider post-sentencing months, a reduction to a term of
the guideline range applicable to the conduct of the defendant that occurred imprisonment of 46 months
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defendant at the time of sentencing, a after imposition of the original term of (representing a reduction of
reduction comparably less than the imprisonment in determining: (I) approximately 20 percent below the
amended guideline range determined Whether a reduction in the defendant’s minimum term of imprisonment
under subdivision (1) of this subsection term of imprisonment is warranted; and provided by the amended guideline
may be appropriate. However, if the (II) the extent of such reduction, but range determined under subsection

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Federal Register / Vol. 73, No. 1 / Wednesday, January 2, 2008 / Notices 219

(b)(1)) would amount to a comparable U.S.C. 3582(c)(2) and implements 28 and is therefore authorized under 18
reduction and may be appropriate. U.S.C. 994(u), which provides: ‘If the U.S.C. 3582(c)(2).
In no case, however, shall the term of Commission reduces the term of The amendment modifies subsection
imprisonment be reduced below time imprisonment recommended in the (a) to state the statutory requirement
served. Subject to these limitations, the guidelines applicable to a particular under 18 U.S.C. 3582(c)(2) that a
sentencing court has the discretion to offense or category of offenses, it shall reduction in the defendant’s term of
determine whether, and to what extent, specify in what circumstances and by imprisonment be consistent with the
to reduce a term of imprisonment under what amount the sentences of prisoners policy statement. The amendment also
this section. serving terms of imprisonment for the modifies subsection (a) to state that,
4. Supervised Release.— offense may be reduced.’ consistent with subsection (b),
(A) Exclusion Relating to Among the factors considered by the proceedings under 18 U.S.C. 3582(c)(2)
Revocation.—Only a term of Commission in selecting the do not constitute a full resentencing of
imprisonment imposed as part of the amendments included in subsection (c) the defendant.
original sentence is authorized to be were the purpose of the amendment, the In addition, the amendment amends
reduced under this section. This section magnitude of the change in the subsection (a) to clarify circumstances
does not authorize a reduction in the guideline range made by the in which a reduction in the defendant’s
term of imprisonment imposed upon amendment, and the difficulty of term of imprisonment is not consistent
revocation of supervised release. applying the amendment retroactively with the policy statement and therefore
(B) Modification Relating to Early to determine an amended guideline is not authorized under 18 U.S.C.
Termination.—If the prohibition in range under subsection (b)(1). 3582(c)(2). Specifically, the amendment
subsection (b)(2)(C) relating to time The listing of an amendment in provides that a reduction in the
already served precludes a reduction in subsection (c) reflects policy defendant’s term of imprisonment is not
the term of imprisonment to the extent determinations by the Commission that consistent with § 1B1.10 and therefore is
the court determines otherwise would a reduced guideline range is sufficient not authorized under 18 U.S.C.
have been appropriate as a result of the to achieve the purposes of sentencing 3582(c)(2) if (1) none of the amendments
amended guideline range determined and that, in the sound discretion of the listed in subsection (c) is applicable to
under subsection (b)(1), the court may court, a reduction in the term of the defendant; or (2) an amendment
consider any such reduction that it was imprisonment may be appropriate for listed in subsection (c) does not have
unable to grant in connection with any previously sentenced, qualified the effect of lowering the defendant’s
motion for early termination of a term defendants. The authorization of such a applicable guideline range. Application
of supervised release under 18 U.S.C. discretionary reduction does not Note 1 provides further explanation that
3583(e)(1). However, the fact that a otherwise affect the lawfulness of a an amendment may be listed in
defendant may have served a longer previously imposed sentence, does not subsection (c) but not have the effect of
term of imprisonment than the court authorize a reduction in any other lowering the defendant’s applicable
determines would have been component of the sentence, and does guideline range because of the operation
appropriate in view of the amended not entitle a defendant to a reduced of another guideline or statutory
guideline range determined under term of imprisonment as a matter of provision (e.g., a statutory mandatory
subsection (b)(1) shall not, without right. minimum term of imprisonment). In
more, provide a basis for early The Commission has not included in such a case, a reduction in the
termination of supervised release. this policy statement amendments that defendant’s term of imprisonment is not
Rather, the court should take into generally reduce the maximum of the consistent with § 1B1.10 and therefore is
account the totality of circumstances guideline range by less than six months. not authorized under 18 U.S.C.
relevant to a decision to terminate This criterion is in accord with the 3582(c)(2).
supervised release, including the term legislative history of 28 U.S.C. 994(u) The amendment modifies subsection
of supervised release that would have (formerly section 994(t)), which states: (b) to clarify the limitations on the
been appropriate in connection with a ‘It should be noted that the Committee extent to which a court may reduce the
sentence under the amended guideline does not expect that the Commission defendant’s term of imprisonment under
range determined under subsection will recommend adjusting existing 18 U.S.C. 582(c)(2) and § 1B1.10.
(b)(1). sentences under the provision when Specifically, in subsection (b)(1) the
Background: Section 3582(c)(2) of guidelines are simply refined in a way amendment provides that, in
Title 18, United States Code, provides: that might cause isolated instances of determining whether, and to what
‘[I]n the case of a defendant who has existing sentences falling above the old extent, a reduction in the defendant’s
been sentenced to a term of guidelines* or when there is only a term of imprisonment is warranted, the
imprisonment based on a sentencing minor downward adjustment in the court shall determine the amended
range that has subsequently been guidelines. The Committee does not guideline range that would have been
lowered by the Sentencing Commission believe the courts should be burdened applicable to the defendant if the
pursuant to 28 U.S.C. 994(o), upon with adjustments in these cases.’ S. Rep. amendment(s) to the guidelines listed in
motion of the defendant or the Director 225, 98th Cong., 1st Sess. 180 (1983). subsection (c) had been in effect at the
of the Bureau of Prisons, or on its own time the defendant was sentenced,
motion, the court may reduce the term *So in original. Probably should be ‘to fall substituting only the amendments listed
of imprisonment, after considering the above the amended guidelines’.’’. in subsection (c) for the corresponding
factors set forth in section 3553(a) to the Reason for Amendment: This guideline provisions that were applied
extent that they are applicable, if such amendment makes a number of when the defendant was sentenced and
a reduction is consistent with applicable modifications to *1B1.10 (Reduction in leaving all other guideline application
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policy statements issued by the Term of Imprisonment as a Result of decisions unaffected.


Sentencing Commission.’ Amended Guideline Range) to clarify In subsection (b)(2) the amendment
This policy statement provides when, and to what extent, a reduction provides further clarification that the
guidance and limitations for a court in the defendant’s term of imprisonment court shall not reduce the defendant’s
when considering a motion under 18 is consistent with the policy statement term of imprisonment to a term that is

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220 Federal Register / Vol. 73, No. 1 / Wednesday, January 2, 2008 / Notices

less than the minimum of the amended commentary to § 1B1.10 (Reduction in pursuant to loan agreements with the
guideline range, except if the original Term of Imprisonment as a Result of foreign owners or custodians. I also
term of imprisonment imposed was less Amended Guideline Range) appear to be determine that the exhibition or display
than the term of imprisonment provided met. Specifically: (1) As stated in the of the exhibit objects at the National
by the guideline range applicable to the reason for amendment accompanying Gallery of Art, Washington, DC from on
defendant at the time of sentencing, a Amendment 706, the purpose of that or about May 25, 2008, until on or about
reduction comparably less than the amendment was to alleviate some of the September 7, 2008; the Asian Art
amended guideline range may be urgent and compelling problems Museum of San Francisco from on or
appropriate. However, if the original associated with the penalty structure for about October 17, 2008, to on or about
term of imprisonment constituted a non- crack cocaine offenses; (2) the January 25, 2009; The Museum of Fine
guideline sentence determined pursuant Commission’s analysis of cases Arts, Houston, from on or about
to 18 U.S.C. 3553(a) and United States potentially eligible for retroactive February 22, 2009, to on or about May
v. Booker, 543 U.S. 220 (2005), a further application of Amendment 706 17, 2009: and The Metropolitan
reduction generally would not be (available on the Commission’s Web site Museum of Art, New York, from on or
appropriate. The amendment clarifies at http://www.ussc.gov) indicates that about June 15, 2009, to on or about
that in no event may the reduced term the number of cases potentially September 20, 2009, and at possible
of imprisonment be less than the term involved is substantial, and the additional exhibitions or venues yet to
of imprisonment the defendant has magnitude of the change in the be determined, is in the national
already served. The amendment adds in guideline range, i.e., two levels, is not interest. Public Notice of these
Application Note 3 examples difficult to apply in individual cases; Determinations is ordered to be
illustrating the limitations on the extent and (3) the Commission received published in the Federal Register.
to which a court may reduce a persuasive written comment and FOR FURTHER INFORMATION CONTACT: For
defendant’s term of imprisonment under testimony at its November 13, 2007 further information, including a list of
18 U.S.C. 3582(c)(2) and § 1B1.10. public hearing on retroactivity that the the exhibit objects, contact Carol B.
The amendment also modifies administrative burdens of applying Epstein, Attorney-Adviser, Office of the
Application Note 1 to delineate more Amendment 706 retroactively are Legal Adviser, U.S. Department of State
clearly factors for consideration by the manageable. In addition, public safety (telephone: 202/453–8048). The address
court in determining whether, and to will be considered in every case because is U.S. Department of State, SA–44, 301
what extent, a reduction in the § 1B1.10, as amended by Amendment 4th Street, SW., Room 700, Washington,
defendant’s term of imprisonment is 712, requires the court, in determining DC 20547–0001.
warranted under 18 U.S.C. 3582(c)(2). whether and to what extent a reduction
Specifically, the amendment provides Dated: December 19, 2007.
in the defendant’s term of imprisonment
that the court shall consider the factors is warranted, to consider the nature and C. Miller Crouch,
set forth in 18 U.S.C. 3553(a), as seriousness of the danger to any person Principal Deputy Assistant Secretary for
required by 18 U.S.C. 3582(c)(2), and or the community that may be posed by Educational and Cultural Affairs, Department
the nature and seriousness of the danger of State.
such a reduction.
to any person or the community that [FR Doc. E7–25519 Filed 12–31–07; 8:45 am]
may be posed by such a reduction, but [FR Doc. E7–25483 Filed 12–31–07; 8:45 am] BILLING CODE 4710–05–P
only within the limits described in BILLING CODE 2211–01–P
subsection (b). In addition, the
amendment provides that the court may DEPARTMENT OF STATE
consider post-sentencing conduct of the DEPARTMENT OF STATE [Public Notice 6050]
defendant that occurred after imposition [Public Notice 6049]
of the original term of imprisonment, Culturally Significant Objects Imported
but only within the limits described in Culturally Significant Objects Imported for Exhibition Determinations:
subsection (b). for Exhibition Determinations: ‘‘Gustave Courbet’’
The amendment makes conforming ‘‘Afghanistan: Hidden Treasures From
changes and adds headings to the SUMMARY: Notice is hereby given of the
the National Museum, Kabul’’
application notes, and makes following determinations: Pursuant to
conforming changes to the background SUMMARY: Notice is hereby given of the the authority vested in me by the Act of
commentary. following determinations: Pursuant to October 19, 1965 (79 Stat. 985; 22 U.S.C.
2. Amendment: Section 1B1.10, as the authority vested in me by the Act of 2459), Executive Order 12047 of March
amended by Amendment 1, is further October 19, 1965 (79 Stat. 985; 22 U.S.C. 27, 1978, the Foreign Affairs Reform and
amended in subsection (c) by inserting 2459), Executive Order 12047 of March Restructuring Act of 1998 (112 Stat.
‘‘Covered Amendments.—’’ before 27, 1978, the Foreign Affairs Reform and 2681, et seq.; 22 U.S.C. 6501 note, et
‘‘Amendments’’; by striking ‘‘and 702’’; Restructuring Act of 1998 (112 Stat. seq.), Delegation of Authority No. 234 of
and by inserting ‘‘702, and 706 as 2681, et seq.; 22 U.S.C. 6501 note, et October 1, 1999, Delegation of Authority
amended by 711’’ before the period. seq.), Delegation of Authority No. 234 of No. 236 of October 19, 1999, as
Reason for Amendment: This October 1, 1999, Delegation of Authority amended, and Delegation of Authority
amendment expands the listing in No. 236 of October 19, 1999, as No. 257 of April 15, 2003 [68 FR 19875],
§ 1B1.10(c) to implement the directive amended, and Delegation of Authority I hereby determine that the objects to be
in 28 U.S.C. 994(u) with respect to No. 257 of April 15, 2003 [68 FR 19875], included in the exhibition ‘‘Gustave
guideline amendments that may be I hereby determine that the objects to be Courbet,’’ imported from abroad for
considered for retroactive application. included in the exhibition temporary exhibition within the United
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The Commission has determined that ‘‘Afghanistan: Hidden Treasures from States, are of cultural significance. The
Amendment 706, as amended by the National Museum, Kabul’’, imported objects are imported pursuant to loan
Amendment 711, should be applied from abroad for temporary exhibition agreements with the foreign owners or
retroactively because the applicable within the United States, are of cultural custodians. I also determine that the
standards set forth in the background significance. The objects are imported exhibition or display of the exhibit

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