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FEDERAL REGISTER

5366

PROPOSED RULE MAKING
DEPARTMENT OP JUSTICE
Immigration and Naturalization Service 8 CFR, Parts 370, 373 1
P r el im in a r y N aturalization I nvestiga
t io n s and P r el im in a r y N aturalization H earings NOTICE OF PROPOSED RULE MAKING

Correction In P. R. Document 49-6901, appearing in the issue for Friday, August 26, 1949, on page 5315, change the word pre scribe, in the third sentence of 373.1
a to preside.

FEDERAL COMMUNICATIONS
COMMISSION
47 CFR, Parts 2, 3 1
Docket Nos. 8736, 8975, 8976, 91751
T e l e v is io n B roadcast S ervice NOTICE OF ORDER OF TESTIMONY

In the matters of amendment of 3.606 of the Commissions rules and regulations, Docket Nos. 8736 and 8975;
amendment of the Commissions rules, regulations and engineering standards concerning the television broadcast serv ice, Docket No. 9175; utilization of fre quencies i n tthe Band 470 to 890 Mes.
for television broadcasting, Docket No.
8976.
1. The Commission has received sug gestions, submitted formally and in formally, that the hearing in the aboveentitled proceedings scheduled to commerce on September 26,1949, be sep arated into two parts. It has been rec ommended th at the first part of the hearing be devoted to receiving testi mony relating to the general issues in volved herein while the second part be devoted to proposals relating to specific channel allocations. The Commission is of the opinion that there is substantial merit to those suggestions and, there fore, has adopted the procedure outlined below. It is believed that this procedure will be conducive to a more purposeful organization of the hearing itself and at thé same time will permit interested parties tomake specific plans for their participation in the hearing.
2. Testimony at the above hearing will be received in two parts. The first part will be limited to the receipt of evidence and exhibits relating to the proposals and methods contained in Appendices A
and B of the Commissions notice of fur ther proposed rule-making herein as amended FCC 49-948; 14 P. R. 4483;
to the issues and proposals specified in paragraphs 6 to 13, inclusive, of the above notice of further proposed rulemaking ; and to any data, views or argu ments filed by interested parties relating to the contents of said Appendices A and B, and to the provisions of said para graphs 6 to 13, inclusive of said no tice. The second part of the testimony
will be devoted to the presentation of has expired and that no appeal is pend evidence relating to Appendices C and ing; and, if under the terms of the plan D of the above notice of further proposed security holders authorization is re rule-making and to comments, counter quired, that such authorization has been proposals and objections filed by inter obtained. Under the proposal this part ested parties relating to said appendices. of the rule would be amended to remove A public announcement will be made at the requirement that the appeal period least 3 days in advance thereof of the shall have expired and that no appeal date when the second portion of the tes shall be pending.
The purpose of the revision is to make timony will be heard.
3.
In view of the fact that comments the conditions precedent to when dis regarding the proposals set forth by the tributed trading on the exchange more Commission in the above notice of fur in line with the conditions precedent to ther proposed rule-making may be filed such trading in the over-the-counter by August 26, 1949, and that objections market, so that such trading may or to such comments may 4ae filed by Sep dinarily begin on the exchange and in tember 12, 1949, the Commission is un the over-the-counter market at about able, at this time, to list the order in the same time. Such distributions in which it will consider the various m at the over-the-counter market, when not ters which will be the subject of the first required to be registered under the Se part of the testimony of the hearing. curities Act of 1933, are ordinarily made However, after September 12, 1949, and in reliance on the exemption provided at a reasonable time prior to the date of by section 3 a 10 of the Securities hearing, the Commission will make pub Act of 1933, and as this section has been lic the specific matters as to which tes interpreted the exemption is not or timony will be received, and the order dinarily affected by the pendency of an in which these matters will be consid appeal from the required order of the court or other designated governmental ered.
body or the non-expiration of the appeal Adopted: August 18, 1949.
period. The same thing is true where an exemption is available under the Released: August 19,1949.
Securities Act of 1933 because the issu F ederal C o m m u n ic a tio n s ance of the securities is subject to the C o m m is s io n , jurisdiction of the Interstate Commerce se a l !
T . J . S l o w ie , Commission.
Secretary.
If Rule X-12D3-10 should be amended P. R. Doc. 49-6991; Filed, Aug. 29, 1949;
as proposed, the amendment would be 8:56 a. m.
adopted tentatively for a period of six months so that it could be reviewed at the end of that time to determine whether it should be continued. It SECURITIES AND EXCHANGE
should be noted, however, th at even if COMMISSION
the proposal is adopted Rule X-12D3-8, which applies to all applications for C 17 CFR, Part 240 3
trading in unissued securities, provides that the Commission may postpone or R eg istra tio n o f an U n issu e d S ec u r ity , deny registration if it finds th at any facts O th er T h an a W arrant , T o B e I ssued exist which make such action necessary U nder a P lan o f R eorganization P u r
or appropriate in the public interest or suant to C o urt O rder for the protection of investors. The NOTICE OF PROPOSED RULE MAKING
Commission, in line with its general pol Notice is hereby given that the Se icy under Rule X-12D3-8, would still feel curities and Exchange Commission has free to deny or postpone registration in under consideration a proposal to amend exceptional cases where it believed that 240.12d3-10 Rule X-12D3-10 under the pendency or likelihood of an appeal sections 12 d and 23 a of the Se made it inappropriate in the public in terest to permit when-issued trading curities Exchange Act of 1934.
Rule X-12D3-10 is one of several rules on an exchange.
If the proposal is adopted the amended under section 12 d of the act which provide for the registration of unissued rule would read as follows:
securities for when-issued trading on 240.12d3-10 Registration of an un a national securities exchange. It sets issued security, other than a Warrant, out the conditions for registration of an to be issued under a plan of reorganiza unissued security other than a warrant tion pursuant to court order, a Not to be issued under a plan of reorganiza withstanding the provisions of Rule tion pursuant to court order. One of X-12D3-4 240.12d3-4, an unissued these conditions, specified in subpara security, other than a warrant, to be graph a 1 i of the rule, is that issued under a plan of reorganization in the plan of reorganization has been compliance with an order of a court of finally approved or required to be put competent jurisdiction may be registered into effect or, in the case of a proceed for when issued dealing on a national ing under the Bankruptcy Act has been securities exchange: Provided, That:
1 The reorganization managers, finally confirmed by order of the Court in which the proceeding is pending; and, company, or other person entrusted with if there has been substantial opposition the duty of consumlhating the plan of to such order, that the time during which reorganization has filed a written state an appeal may be taken from such order ment with such exchange and a dupli-