Agency information collection activities: Proposed collection; comment request,

[Federal Register: July 29, 1999 (Volume 64, Number 145)]

[Notices]

[Page 41189]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr29jy99-123]

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

Proposed Collection; Electronic License Application Form

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice and request for comments.

SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on the Office of Foreign Assets Control's Electronic License Application Form information collection, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

DATES: Written comments should be received on or before September 27, 1999 to be assured of consideration.

ADDRESSES: Direct all written comments to Dennis P. Wood, Chief, Compliance Programs Division, or William B. Hoffman, Chief Counsel, Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, NW, Annex-2nd Floor, Washington, DC 20220.

FOR FURTHER INFORMATION CONTACT: Requests for additional information about the filings or procedures should be directed to Dennis P. Wood, Chief, Compliance Programs Division, (tel.: 202/622-2490), Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, NW, Annex-2nd Floor, Washington, DC 20220.

SUPPLEMENTARY INFORMATION:

Title: Electronic Form for OFAC License Applications.

OMB Number: 1505-0170.

Abstract: Transactions prohibited pursuant to the Trading With The Enemy Act, 50 U.S.C. App. 1-44, and the International Emergency Economic Powers Act, 50 U.S.C. 1701, may be authorized by means of specific licenses issued by the Office of Foreign Assets control (OFAC). Such licenses are issued in response to applications submitted by persons or institutions whose property has been blocked or who wish to engage in transactions that would otherwise by prohibited. This form--which provides a standardized method for all applicants and is available in electron form on our website--was new upon OMB's initial approval in December 1998. Applicants are not required to use the form. However, its use greatly facilitates and speeds applicants' submissions and OFAC's processing of applications and obviates the need for applicants to write lengthy letters to OFAC, thus reducing the overall burden of the application process.

Current Action: Extension.

Type of Review: Extension.

Affected Public: Individuals/ businesses and other for-profit institutions/ banking institutions.

Estimated Number of Respondents: 2,751.

Estimated Time Per Respondent: 30 minutes.

Estimated Annual Burden Hours: 1,376.

Request for Comments

Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the agency's functions, including whether the information has practical utility; (b) the accuracy of the agency's estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.

Dated: July 14, 1999. Dale A. Morgan, Departmental Reports Management Officer, Department of the Treasury.

[FR Doc. 99-19208Filed7-28-99; 8:45 am]

BILLING CODE 4810-25-P