Practice and procedure: Prior approval proceedings,
[Federal Register: August 11, 1999 (Volume 64, Number 154)]
[Rules and Regulations]
[Page 43599]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr11au99-2]
FEDERAL TRADE COMMISSION
Procedures in Prior Approval Proceedings
AGENCY: Federal Trade Commission.
ACTION: Final rule.
SUMMARY: The Federal Trade Commission is amending its procedures governing applications for approval of proposed divestitures, acquisitions, or similar transactions that are subject to Commission review under outstanding orders. The amendment repeals the unnecessary and burdensome requirement for disclosure on the public record of communications concerning an application from persons outside the Commission to Commissioners and their advisors.
EFFECTIVE DATE: August 11, 1999.
FOR FURTHER INFORMATION CONTACT: Marc Winerman, Attorney, Office of the General Counsel, 202-326-2451.
SUPPLEMENTARY INFORMATION: Commission Rule 2.41(f)(3), 16 CFR 2.41(f)(3), requires that Commissioners and their advisors expeditiously disclose written communications, and memoranda setting forth the full contents and circumstances of oral communications, that they receive from outside parties concerning a prior approval application. The Commission is repealing this legally unnecessary and, in practice, burdensome provision. Consistent with existing practice, however, the Commission will provide applicants with an explanation of any adverse information that the Commission may consider, and provide applicants with an opportunity to respond. Applicants will thus continue to have an opportunity to respond to significant information transmitted by outside parties directly to Commissioners' offices (which former Rule 2.41(f)(3) covered), as well as information transmitted by outside parties to staff and through staff to those offices (which the former rule did not cover).
Procedural matters. The proposed amendments is exempt from the notice and comment requirements of the Administrative Procedure Act as a rule ``of agency organization, procedure, or practice.'' 5 U.S.C. 553(b)(A). It does not entail information collection and thus is not subject to the Paperwork Reduction Act of 1980. 44 U.S.C. 3501 et seq. And it will not have a significant economic impact on a substantial number of small businesses, and is not subject to the requirements of the Regulatory Flexibility Act, 5 U.S.C. 605(b).
List of Subjects in CFR Part 2
Administrative practice and procedure, reporting and record-keeping requirements.
Accordingly, the Federal Trade Commission amends Title 16, Chapter 1, Subchapter A, the Code of Federal Regulations as follows:
PART 2--NON-ADJUDICATIVE PROCEDURES
-
The authority for part 2 continues to read as follows:
Authority: Sec. 6, 38 Stat. 721; 15 U.S.C. 46.
-
In Sec. 2.41, paragraph (f)(3) is removed.
-
In Sec. 2.41, paragraphs (f)(4) and (5) are redesignated as paragraphs (f)(3) and (4), respectively.
By direction of the Commission. Benjamin I. Berman, Acting Secretary.
[FR Doc. 99-20698Filed8-10-99; 8:45 am]
BILLING CODE 6750-01-M
