|
|
|
|
Grant; PTE 2003-01
|
D-10995
|
|
G: 68 FR 6194 (02/06/03)
|
P: 67 FR 69560 (11/18/02)
|
|
The Northern Trust Company and Affiliates
(Northern)
|
|
Permits the in kind redemption by the
Northern Trust Company Thrift-Incentive Plan of shares of
proprietary mutual funds currently offered by, or offered
in the future by, investment companies for which Northern
or its affiliate provides investment advisory and/or other
services.
|
|
|
Grant; PTE 2003-02 |
D-10999
|
|
G: 68 FR 6196 (02/06/03)
|
P: 67 FR 62822 (10/08/02)
|
|
Brightpoint, Inc. (Brightpoint)
|
|
Permits, as of June 5, 2001: (1) the
payment by Brightpoint of $108,738.85 to the Millennium
Trust Company on behalf of the Brightpoint, Inc. 401(k)
Plan (the Plan) for the purpose of satisfying a
court-ordered assessment against the assets of the Plan
that arose in connection with the $68,100,000 deficiency
(the Deficiency) incurred by the Independent Trust
Corporation; and (2) the transfer by the Plan to
Brightpoint of certain assets recovered by
PriceWaterhouseCoopers LLP in connection with the
Deficiency.
|
|
|
Grant; PTE 2003-03 |
D-11095
|
|
G: 68 FR 10047
(03/03/03)
|
P: 67 FR 79654 (12/30/02)
|
|
Reagent Chemical & Research, Inc.
Employees’ Profit Sharing Plan and Trust (the Plan)
|
|
Permits the proposed sale of a
73.4815 percent tenancy-in-common interest by the Plan
to Brian Skeuse, a vice president and shareholder of
Reagent Chemical & Research, Inc., and his spouse,
Jan Skeuse, parties in interest with respect to the
Plan.
|
|
|
Grant; PTE 2003-04 |
L-11058
|
|
G: 68 FR 10047 (03/03/03)
|
P: 67 FR 69566 (11/18/02)
|
|
Michigan Conference of Teamsters
Welfare Fund (the Plan)
|
|
Permits the cash sale by the Plan of
certain parcels of real estate (the Property) to the
Detroit Teamsters Temple Association, a party in
interest with respect to the Plan and a lessee of a
portion of the Property.
|
|
|
Grant; PTE 2003-05 |
D-11061
|
|
G: 68 FR 18704 (04/16/03)
|
P: 68 FR 3040 (01/22/03)
|
|
John Hancock Life Insurance Company (Hancock)
|
|
Permits (1) the purchase of a timber asset from International Paper Company
(International Paper) or any affiliate, by a certain insurance company separate
account (ForesTree IP), maintained and managed by Hancock for the investment of
the assets of one or more employee pension benefit plans sponsored by
International Paper; and (2) the sale of a timber product to International Paper by ForesTree IP.
|
|
|
Grant; PTE 2003-06 |
D-11059
|
|
G: 68 FR 18710 (04/16/03)
|
P: 68 FR 6205 (02/06/03)
|
|
Individual Exemption to Replace Prohibited Transaction
Exemptions (PTEs) 81-56, 85-19 and 89-5 (the Prior Exemptions) Involving the
Truman Arnold Companies Retirement Plan and Trust (the Plan)
|
|
Each of the Prior Exemptions permitted the Truman Arnold Companies (the
Employer) to contribute and/or lease from the Plan certain improved real
property under the provisions of three distinct written leases. The exemption
incorporates many of the facts and representations contained in the Prior
Exemptions and updates information to the extent that there have been changes.
Because it appears that PTE 81-56 expired on September 30, 1999, and the parties
have not been covered by an administrative exemption since that time, the
exemption provides retroactive exemptive relief from October 1, 1999 until
September 30, 2002. In addition, to resolve uncertainty regarding the expiration
dates of the leases described in PTEs 81-56 and 85-19, the exemption merges the
leases, along with the lease described in PTE 89-5, under a new master lease and
provides retroactive exemptive relief effective October 1, 2002 with respect to
such past and continued lease arrangements. Further, the exemption permits the
replacement of AmSouth Bank, the Plan’s former independent fiduciary, with
Regions Bank, the Plan’s current trustee.
|
|
|
Grant; PTE 2003-07 |
D-11068
|
|
G: 68 FR 23764 (05/05/03)
|
P: 68 FR 10043 (03/03/03)
|
|
Archer Daniels Midland Company (Archer)
|
|
Permits the reinsurance of risks and the receipt of premiums therefrom by
Agrinational Insurance Company in connection with insurance contracts sold by
Minnesota Life Insurance Company (ML), or any successor company to ML which is
unrelated to Archer, to provide basic and supplemental life insurance benefits
to participants in Archer’s plans which provide such benefits to its
employees.
|
|
|
Grant; PTE 2003-08 |
D-11107
|
|
G: 68 FR 23765 (05/05/03)
|
P: 68 FR 3046 (01/22/03)
|
|
G.D. Castillo, M.D. Ltd. Profit Sharing Plan (the Plan)
|
|
Permits, effective August 23, 1999, the sale of two parcels of unimproved
real property by the Plan to Dr. G.D. Castillo, a party in interest with respect
to the Plan.
|
|
|
Grant; PTE 2003-09 |
D-11042
|
|
G: 68 FR 28031 (05/22/03)
|
P: 68 FR
10041 (03/03/03)
|
|
Metropolitan Life Insurance Company
(MetLife)
|
|
Permits, effective April 6, 2001, the cash sale to MetLife of
a note, issued by Pacific Gas & Electric Company, by MetLife’s Liquidity
Plus Account (the Account) for which MetLife acts as investment manager and is a
party in interest with respect to employee benefit plans invested in such
Account.
|
|
|
Grant; PTE 2003-10 |
D-11062
|
|
G: 68 FR 28031 (05/22/03)
|
P: 68 FR 13954 (03/21/03)
|
|
The JP Morgan Chase Bank
|
|
Permits, effective, December 31, 2000, (a) the continuation
of a lease, by the Commingled Pension Trust Fund of JPMorgan Chase Bank (the
Fund) with respect to which JPMorgan Chase Bank (JPMCB) is the trustee, of
office space in a certain commercial office building to Chase Global Funds
Service Company, a party in interest with respect to employee benefit plans
whose assets are invested in the Fund and an affiliate of JPMCB; and (b) the
continued and future provision by JPMCB or its affiliates of letters of credit
to guarantee the obligations of unrelated third-party tenants to pay rent to the
Fund under the commercial real estate leases.
|
|
|
Grant; PTE 2003-11 |
D-10840
|
|
G:
68 FR 34646 (06/10/03)
|
P: 68 FR 10035 (03/03/03)
|
|
Deutsche Bank AG (DB)
|
|
Permits (1) retroactive exemptive relief from June 4, 1999
until the date of granting of the exemption for the investment of the assets of
a Bank Plan or a Client Plan (either, a Plan) in deposits of DB, its current or
future branches, and/or its current or future subsidiaries; and (2) prospective
relief for the same transaction, but with additional conditions applying.
|
|
|
Grant; PTE 2003-12 |
D-11055
|
|
G:
68 FR 34648 (06/10/03)
|
P:
67 FR 79649 (12/30/02)
|
|
Deutsche Bank AG (Deutsche Bank)
|
|
Permits, effective December 11, 2002, foreign exchange
transactions (i.e., an income item conversion or a de minimus purchase or sale
transaction) between Deutsche Bank or a foreign affiliate thereof that is a bank
or broker-dealer (collectively, DBAG), and an employee benefit plan with respect
to which DBAG is a trustee, custodian, fiduciary or other party in interest.
|
|
|
Grant; PTE 2003-13 |
D-11104
|
|
G:
68 FR 34650 (06/10/03)
|
P:
68 FR 13964 (03/21/03)
|
|
Law Offices of Richard D. Gorman
Pension and Profit Sharing Plan (the Plan)
|
|
Permits the sale of unimproved real property by the Plan to
Mr. Richard Gorman, a trustee and a party in interest with respect to the Plan.
|
|
|
Grant; PTE 2003-14 |
D-11146
|
|
G:
68 FR 34650 (06/10/03)
|
P:
68 FR 18686 (04/16/03)
|
|
ACR Homes, Inc. Employee Stock
Ownership Plan (the ESOP)
|
|
Permits the past sale, on August 28, 2001, by the ESOP to ACR
Homes, Inc., the sponsoring employer, of 3,600 shares of the Employer’s class
A common stock for $511,250 in cash.
|
|
|
Grant; PTE 2003-15 |
D-11111 - D-11113
|
|
G: 68 FR 37519 (06/24/03)
|
P: 68 FR 3047 (01/22/03)
|
|
DuPont Capital Management
Corporation (DCMC)
|
|
Permits the past extension of credit from the DuPont Pension
and Retirement Plan, the Pioneer Hi-Bred International, Inc. Retirement Plan and
the Protein Technologies International Retirement Plan (collectively, the Plans)
to the Dow Chemical Company (Dow), a party in interest with respect to the
Plans, as a result of the holding by the Plans of certain corporate debt
securities issued by Dow, for the period from October 25, 2000 until July 10,
2001.
|
|
|
Grant; PTE 2003-16 |
D-11114 to D-11118
|
|
G: 68 FR 37520 (06/24/03)
|
P: 68 FR 3048 (01/22/03)
|
|
DuPont Capital Management
Corporation (DCMC)
|
|
Permits the past extension of credit from the DuPont Pension
and Retirement Plan, the Pioneer Hi-Bred International, Inc. Retirement Plan,
the Protein Technologies International Retirement Plan and the DuPont Savings
and Investment Plan (collectively, the Plans) to ConAgra Foods, Inc. (ConAgra),
a party in interest with respect to the Plans, as a result of the holding by the
Plans of certain corporate debt securities issued by ConAgra, for the period
from September 5, 2001 until October 17, 2001.
|
|
|
Grant; PTE 2003-17 |
D-11119; D-11120
|
|
G: 68 FR 37521 (06/24/03)
|
P: 68 FR 3050 (01/22/03)
|
|
DuPont Capital Management
Corporation (DCMC)
|
|
Permits the past extension of credit from the CONSOL Inc.
Employee Retirement Plan and the CONSOL Inc. Investment Plan for Salaried
Employees (collectively, the Plans) to Conoco Inc. (Conoco), a party in interest
with respect to the Plans, as a result of the holding by the Plans of certain
corporate debt securities issued by Conoco, for the period from December 29,
1999 through August 16, 2001.
|
|
|
Grant; PTE 2003-18 |
D-11133
|
|
G: 68 FR 37521 (06/24/03)
|
P: 68 FR 23768 (05/05/03)
|
|
Skandinaviska Enskilda Banken AB (SEB)
|
|
Permits, effective October 30, 2002, (1) the lending of
securities that are assets of a plan (the Plan) to SEB’s head office in
Stockholm (the Borrower); (2) the lending of securities, under certain exclusive
borrowing arrangements, to the Borrower by Plans, including commingled
investment funds holding assets of such Plans, with respect to which SEB or any
of its affiliates is a party in interest; and (3) the receipt of compensation by
SEB or any of its affiliates in connection with these exclusive borrowing
transactions.
|
|
|
Grant; PTE 2003-19 |
D-11122
|
|
G: 68 FR 37526 (06/24/03)
|
P: 68 FR 6197 (02/06/03)
|
|
Grant of Individual Exemption to
Replace Prohibited Transaction Exemptions (PTE) 97-63
(the Prior Exemption) Involving State Street Bank and
Trust Company (State Street)
|
|
Replaces PTE 97-63 (62 FR 66689, December 19, 1997). Also
permits securities lending transactions between State Street, its United
States-domiciled affiliates, and certain employee benefit plans, including
commingled investment funds holding plan assets, for which State Street, through
any division or U.S. affiliate of State Street or of its parent acts as
securities lending agent or sub-agent. The exemption also permits receipt of
compensation by a U.S. registered introducing broker affiliated with State
Street (the Introducing Broker) in connection with an arrangement whereby
securities are lent to an unrelated broker who in turn lends such securities to
clients of the Introducing Broker. In addition, State Street has requested that
the exemption incorporate various modifications to specific terms and conditions
of the Prior Exemption.
|
|
|
Grant; PTE 2003-20 |
D-10988
|
|
G: 68 FR 40689 (07/08/03)
|
P: 68 FR 6187 (02/06/03)
|
|
Deutsche Bank Securities Inc. (DBSI)
and Its Affiliates
|
|
Permits any purchase or sale of securities, in the context of
a portfolio liquidation or restructuring, between (i) DBSI and its current or
future affiliates, including certain foreign broker-dealers or banks
(collectively, the Applicant) and (ii) employee benefit plans with respect to
which the Applicant is a party in interest.
|
|
|
Grant; PTE 2003-21 |
D-11142
|
|
G: 68 FR 40693 (07/08/03)
|
P: 68 FR 23778 (05/05/03)
|
|
Arizona Machinery Group, Inc. (AMG)
|
|
Permits the (1) the acquisition by the Arizona Machinery
Group Employees’ Profit Sharing Plan (the Plan) of customer notes acquired
from the Plan sponsor, AMG, or from any successor employer which sponsors the
Plan at the time of the acquisition of such customer note, or from any other
employer which at the time of the acquisition of such customer note has adopted
the Plan (including employers which adopt the Plan subsequent to the proposed
exemption being granted) and which generates customer notes, or from any
affiliate of any such employer; (2) the Plan’s holding of the customer notes,
if the notes acquired and held by the Plan are guaranteed by the respective
employer or affiliate, which accepted and held the customer notes prior to their
acquisition by the Plan, as well as AMG (when the customer note was accepted and
held by an employer other than AMG; and (3) the repurchase of customer notes
from the Plan by the employer or affiliate which initially transferred those
notes to the Plan.
|
|
|
Grant; PTE 2003-22 |
D-11164
|
|
G: 68 FR 40694 (07/08/03)
|
P: 68 FR 18687 (04/16/03)
|
|
Lehman Brothers Holding, Inc. (LBHI)
and Lehman Brothers Inc. (LBI), et al.
|
|
Permits, effective April 16, 2003, the purchase of any
securities by LBHI and LBI and their affiliates (collectively, the Asset
Manager), on behalf of employee benefit plans (the Client Plans), including
Client Plans investing in a pooled fund, for which the Asset Manager acts as a
fiduciary, from any person other than the Asset Manager or an affiliate thereof,
during the existence of an underwriting or selling syndicate with respect to
such securities, where LBI and its affiliates are a manager or member of such
syndicate.
|
|
|
Grant; PTE 2003-23 |
D-11169
|
|
G: 68 FR 40698 (07/08/03)
|
P: 68 FR 18698 (04/16/03)
|
|
Goldman, Sachs & Co. and Its
Affiliates (Goldman)
|
|
Permits any purchase or sale of securities, in the context of
a portfolio liquidation or restructuring, between (i) Goldman and its current
and future affiliates, including foreign broker-dealers or banks (collectively,
the Applicant) and (ii) employee benefit plans with respect to which the
Applicant is a party in interest.
|
|
|
Grant; PTE 2003-24 |
D-11004 and D-11106
|
|
G: 68 FR 48637 (08/14/03)
O: 68 FR 55993 (09/29/03) (Tech. Corr.)
|
P: 68 FR 28018 (05/22/03)
|
|
Deutsche Bank AG, JP Morgan Chase
Bank and their Affiliates (collectively, with their
Affiliates, the Applicants)
|
|
Permits the purchase of any securities by any asset
management Affiliate of the Applicants (the Asset Manager), on behalf of
employee benefit plans (Client Plans), including Client Plans investing in a
pooled fund (the Pooled Fund), for which the Asset Manager acts as a fiduciary,
from any person other than the Asset Manager or an affiliate thereof, during the
existence of an underwriting or selling syndicate with respect to such
securities, where the Affiliated Broker-Dealer is a manager or member of such
syndicate, and/or where an Affiliated Trustee serves as trustee of a trust that
issued the securities (whether or not debt securities) or serves as indenture
trustee of securities that are debt securities. This exemption amends Prohibited
Transaction Exemption (PTE) 2000-25 (65 FR 35129, June 1, 2000, issued to Morgan
Guaranty Trust Company of New York and J.P. Morgan Investment Management, Inc.;
PTE 2007-27, issued to the Chase Manhattan Bank (65 FR 35129, June 1, 2000);
and Final Authorization Number 2001-19E, issued to Deutsche Bank and its
Affiliates (June 23, 2001).
|
|
|
Grant; PTE 2003-25 |
L-11155 and L-11156
|
|
G: 68 FR 48642 (08/14/03)
|
P: 68 FR 28026 (05/22/03)
|
|
IBEW Local No. 1 Health and Welfare
Fund (the Welfare Fund); and Local No. 1,
Apprenticeship and Training Fund (the Training Fund)
|
|
Permits the lease of certain classroom space and supplemental
facilities by the Welfare Fund to the Training Fund, a party in interest with
respect to the Welfare Fund.
|
|
|
Grant; PTE 2003-26 |
D-11137 – D-11139
|
|
G: 68 FR
49792 (08/19/03)
|
P: 68 FR
2578 (01/17/03)
|
|
O: 68 FR 11589 (03/11/03) (Hearing
Notice)
|
|
Northwest Airlines Pension Plan for
Salaried Employees, et al. (collectively, the Plans)
|
|
Permits, effective January 15, 2003, (1) the in kind
contribution(s) of the common stock of either Pinnacle Airlines, Inc. or
Pinnacle Airlines Corp. (Pinnacle Stock) to the Plans by Northwest Airlines,
Inc. (Northwest), a party in interest with respect to such Plans; (2) the
holding of the Pinnacle Stock by the Plans; (3) the sale of the Pinnacle Stock
by the Plans to Northwest; and (4) the acquisition, holding, and exercise by the
Plans of a put option granted to the Plans by Northwest.
|
|
|
Grant; PTE 2003-27 |
D-10992
|
|
G:
68 FR 52789 (09/05/03)
|
P:
68 FR 23767 (05/05/03)
|
|
Local 705 International Brotherhood
of Teamsters Pension Plan (the Plan)
|
|
Permits the proposed purchase of a 10 ft. x 52.6 ft. parcel
of real property by the West Side Realty Corporation, a wholly owned affiliate
of the Plan, from Local 705 Building Corporation, a party in interest with
respect to the Plan.
|
|
|
Grant; PTE 2003-28 |
D-11171
|
|
G:
68 FR 52790 (09/05/03)
|
P: 68 FR 37545 (06/24/03)
|
|
Raleigh Pathology Laboratory
Associates, P.A. Profit Sharing Plan (the Plan)
|
|
Permits the exchange of an unimproved waterfront lot owned by
the Plan and allocated to the individually-directed account in the plan of James
R. Edwards, M.D., for one unimproved tract of land owned personally by Dr.
Edwards and his spouse, Mrs. Delores Edwards.
|
|
|
Grant; PTE 2003-29 |
D-11172
|
|
G:
68 FR 52790 (09/05/03)
|
P: 68 FR 37546 (06/24/03)
|
|
Valley OB-GYN Clinic, P.C.
Employees Pension Plan (the Plan)
|
|
Permits the loan of $550,000 by the Plan to Valley OB-GYN
Realty Company, a party in interest with respect to the Plan.
|
|
|
Grant; PTE 2003-30 |
D-11101
|
|
G: 68 FR 59199 (10/14/03)
|
P: 68 FR 37539 (06/24/03)
|
|
Fifth Third Bank
|
|
Permits, effective April 2, 2001, the receipt of fees by
Fifth Third, a Michigan banking corporation and its affiliates (collectively,
Fifth Third), from the Kent Funds prior to October 26, 2001 or from the Fifth
Third Fund on or after October 26, 2001 (collectively, the Funds), open-end
investment companies registered under the Investment Company Act of 1940, for
acting as an investment adviser for the Funds, as well as for acting as an
administrator, custodian, transfer agent, and provider of other services to the
Funds (including brokerage services in the future) which are not advisory
services (collectively referred to as “Secondary Services”), in connection
with the purchase and sale of shares of the Funds by certain employee benefit
plans and individual retirement accounts for First Third serves as fiduciary
with investment discretion.
|
|
|
Grant; PTE 2003-31 |
D-11189
|
|
G: 68 FR 59202 (10/14/03)
|
P: 68 FR 49304 (08/15/03)
|
|
RBC Dain Rauscher, Inc. (RBC-DR)
|
|
Permits, on or after April 18, 2003, (1) the direct or
indirect sale, exchange or transfer of certificates in the initial issuance of
Securities in the initial issuance of Securities between the Sponsor and the
Underwriter and an employee benefit plan, when the Sponsor, Servicer, Trustee or
Insurer of an Issuer, the Underwriter of the Securities representing an interest
in the Issuer, or an Obligor, is a party in interest with respect to such plan;
(2) the direct or indirect acquisition or disposition of Securities by a plan in
the secondary market for such securities; and (3) the continued holding of
Securities acquired by a plan pursuant to transactions (1) or (2) above. Also
permits, on or after April 18, 2003, the direct or indirect sale, exchange or
transfer of Securities in the initial issuance of Securities between the Sponsor
and the Underwriter and a plan when the person who has discretionary authority
or renders investment advice with respect to the investment of plan assets in
the Securities is (a) an obligor with respect to 5 percent or less of the fair
market value of obligations or assets contained in the trust, or (b) an
affiliate of a person described in (a). Further, this exemption permits, on or
after April 18, 2003, transactions occurring in connection with the servicing,
management and operation of an Issuer, including the use of any Eligible Swap
transaction; or the defeasance of a mortgage obligation held as an issue of the
Issuer through the substitution of a new mortgage obligation in a commercial
mortgage-backed Designated Transaction. Finally, the exemption permits on or
after April 18, 2003, any transactions to which ERISA restrictions and Code
sanctions would otherwise apply merely because a person is deemed to be a party
in interest or a disqualified person (including a fiduciary) with respect to a
plan by virtue of providing services to the plan (or by virtue of having a
relationship to such service provider, as described in section 3(14)(F), (G) or
(I) or ERISA or section 4975(e)(2)(F), (G), (H) or (I) of the Code, solely
because of the plan’s ownership of Securities.
|
|
|
Grant; PTE 2003-32 |
D-11067
|
|
G: 68 FR 64657 (11/14/03)
|
P: 68 FR 52791 (09/05/03)
|
|
Sorenson Broadcasting Employee
Stock Ownership Plan and Trust (the Plan)
|
|
Permits the (1) sale (the Sale) by the Plan to Sorenson
Broadcasting Corporation (the Employer), a party in interest with respect to the
Plan, of 930 shares of common stock of the Employer; and (2) the extension of
credit by the Plan to the Employer under the terms of a subsequent adjustment to
the Sale price, in connection with the Sale.
|
|
|
Grant; PTE 2003-33 |
D-11170
|
|
G: 68 FR 64658 (11/14/03)
|
P: 68 FR 49302 (08/15/03)
|
|
Liberty Media 401(k) Savings Plan
(the Plan)
|
|
Permits, effective November 25, 2002, (1) the acquisition of
certain stock rights (the Rights) by the Plan in connection with a Rights
offering by Liberty Media Corporation, a party in interest with respect to the
Plan; (2) the holding of the Rights by the Plan during the subscription period
of the offering; and (3) the exercise of the Rights by the Plan.
|
|
|
|
|
Grant; PTE 2003-35 |
D-11194
|
|
G: 68 FR 64658 (11/14/03)
|
P: 68 FR 52796 (09/05/03)
|
|
Newspaper Agency Corporation
Pension Trust (the Plan)
|
|
Permits (1) the leasing of certain improved real property by
the Plan to the Newspaper Agency Corporation (the Employer), a party in interest
with respect to the Plan, pursuant to the terms of a lease (the New Lease),
effective August 1, 2003; and (2) the guarantee by MediaNews Group, Inc. and
Deseret News Publishing Corporation (the owners of the Employer) of the
obligations of the Employer under the terms of the New Lease.
|
|
|
Grant; PTE 2003-36 |
D-11086 – D-11090
|
|
G:
68 FR 70311 (12/17/03)
|
P: 68 FR 13960 (03/21/03)
|
|
Deutsche Bank AG (Deutsche Bank)
|
|
Permits, effective April 8, 2002, the following relief: (1)
Basic Transaction -- any transaction between a party in interest with respect to
the plan, provided that the Deutsche Bank In-house Manager (DBIM) has
discretionary authority or control with respect to the plan assets involved in
the transaction; (2) Leasing of Office Space -- the leasing of office or
commercial space owned by a plan managed by a DBIM to an employer any of whose
employees are covered by the plan or an affiliate of such an employer, and the
leasing of residential space by a plan to a party in interest, provided various
conditions are satisfied; and (3) Places of Public Accommodation -- the
furnishing of services and facilities (and good incidental thereto) by a place
of public accommodation owned by a plan and managed by a DBIM to a party in
interest with respect to the plan, if the services and facilities (and
incidental goods) are furnished on a comparable basis to the general public. The
exemption is similar to PTE 84-14 (49 FR 9494, March 13, 1984), involving
qualified professional asset managers and PTE 96-23 (61 FR 15975, April 10,
1996), involving in house asset managers.
|
|
|
Grant; PTE 2003-37 |
D-11136
|
|
G:
68 FR 70315 (12/17/03)
|
P:
68 FR 56006 (09/29/03)
|
|
The National Electrical Benefit
Fund (the Plan)
|
|
Permits, effective October 17, 2002, (1) the provision, by
Bank of America, N.A. (the Bank), a party in interest with respect to the Plan,
of a guaranty of repayment for the benefit of the bondholders in the form of an
Irrevocable Direct Draw Letter of Credit No. 3051512; and (2) the subsequent
reimbursement to the Bank, by Colma Apartment Associates, L.P. (the
Partnership), of amounts advanced by the Bank pursuant to the Letter of Credit
in connection with the investment by the Plan in the Partnership.
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Grant; PTE 2003-38 |
D-11167
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G:
68 FR 70315 (12/17/03)
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P:
68 FR 55993 (09/29/03)
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Aetna Life Insurance Company
(Aetna) and UBS Realty Investors LLC (UBS Realty)
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Permits certain transactions that may occur as a result of
the sharing of real estate investments among various accounts maintained by
Aetna, including the Aetna general account and the general accounts of Aetna’s
affiliates which are insurance companies licensed to do business in at least one
state (collectively, the General Account), and the ERISA-Covered Accounts with
respect to which both Aetna and UBS Realty are fiduciaries. Aetna and UBS Realty
(pursuant to the arrangement described therein) are primarily responsible for
the acquisition, management and disposition of the assets allocated to the ERISA-Covered
Accounts. Aetna has hired UBS Realty as a discretionary sub-advisor for the
ERISA-Covered Accounts maintained by Aetna. UBS Realty will perform such
services for the Accounts as of the transition effective date (October 1, 2003).
However, Aetna will retain fiduciary authority over the ERISA-Covered Accounts
after such date.
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Proposed Exemption
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D-11079
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FR Citation: 68 FR 37535 (06/24/03)
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Kinder Morgan Inc. (the Employer)
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Would permit (1) the acquisition of publicly-traded Employer
stock (the Employer Stock) by certain trusts (the Trusts) through the voluntary
in-kind contribution of such Employer Stock by the Employer for the purposes of
pre-funding welfare benefits provided by welfare plans sponsored by the
Employer; and (2) the holding by the Trusts of Employer Stock acquired pursuant
to the contribution.
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Proposed Exemption
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D-11147
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FR
Citation: 68 FR 56008 (09/29/03)
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Bank of America, N.A.
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Would permit, effective January 1, 2003, (1) the granting to
Bank of America (the Bank), either as an agent (the Agent) for a group of
financial institutions (Lender(s)), or as a sole Lender, that will fund a
so-called “credit facility” (Credit Facility) providing credit to certain
investment funds (Funds(s)), by the Fund of a security interest in and lien on
the capital commitments, reserve amounts, and capital contributions (Capital
Contributions) of certain investors, including employee benefit plans investing
in the Fund; (2) any collateral assignment and pledge by the Fund to the Agent,
or to the Bank as sole Lender, of its security interest in each Investor’s
equity interest, including a Covered Plan’s equity interest, in the Fund; (3)
the granting by the Fund to the Agent, or to the Bank as sole Lender, of a
security interest in a Borrower Collateral Account to which all Capital
Contributions in the Fund will be deposited when paid (except in certain limited
circumstances); (4) the granting by the Fund to the Agent, or to the Bank as
sole Lender, of its right to make calls on Investors for Capital Contributions
(Capital Calls), which shall be in cash, under the operative Fund Agreements;
(5) the execution by a Covered Plan of an agreement consenting to the Fund’s
assignment to the Agent, or to the Bank as sole Lender, of the Fund’s right to
make Capital Calls, which may contain: (a) an acknowledgement by the Covered
Plan of the Fund’s assignment to the Agent, or the Bank as a sole Lender, of
the right to make Capital Calls upon the Covered Plan, enforce the Capital
Calls, collect the Capital Contributions, and apply them to any amount due under
the Credit Facility; (b) a consent (as either part of the Fund Agreements or as
a separate agreement) by the Covered Plan to make Capital Contributions to the
Fund without counterclaim, setoff, or defense, for the purpose of repayment of
the Credit Facility; (c) a representation that the Covered Plan has no knowledge
of claims, offsets or defenses that would adversely affect its obligation to
fund Capital Contributions under the Fund Agreements; and (d) an agreement that
the Covered Plan will fund Capital Contributions only into the Borrower
Collateral Account.
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Proposed Exemption
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D-11180
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FR
Citation: 68 FR 56013 (09/29/03)
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O:
68 FR 59208 (10/14/03) (Tech. Corr.)
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Lodgian, Inc. 401(k) Plan and Trust
Agreement (the Plan)
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Would permit, effective December 3, 2002, (1) the past
acquisition and holding by the Plan of certain warrants (the Warrant(s)) issued
by Lodgian, Inc. (Lodgian), a party in interest with respect to the Plan, which
would permit the purchase of new common stock (New Lodgian Stock); (2) the
cancellation payment by Lodgian to the Plan in exchange for the Warrants (a) at
the election of active participants (b) at the election of the terminated vested
participants whose vested interests exceed $5,000, or (c) in accordance with the
procedures for the automatic cash out of the value of Warrants held in the
accounts of terminated vested participants whose vested interests are $5,000 or
less, for an amount that represents the highest value of the Warrants determined
by an independent, qualified, appraiser between December 31, 2002 and the date
of the individual election; (3) the sale of the Warrants from Plan participants
to Lodgian to cash out active and terminated vested participants; and (4) the
potential exercise of the Warrants into the New Lodgian Stock.
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Proposed Exemption
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D-10957
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FR Citation: 68 FR 64644 (11/14/03)
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John Hancock Life Insurance Company
(JHLIC)
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Would permit the proposed purchases and sales of farmland
assets or entire farmland accounts, between various accounts that are managed by
Hancock Natural Resource Group, Inc. or the affiliates of JHLIC.
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Proposed Exemption
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D-11191
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FR Citation: 68 FR 64650 (11/14/03)
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United States Steel and Carnegie
Pension Fund
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Would permit (1) the in kind contribution of certain timber
rights (the Timber Rights), under two timber purchase and cutting agreements to
The United States Steel Corporation Plan for Employee Pension Benefits (Revision
of 2003) (the Plan) by the United Steel Corporation (US Steel), the Plan sponsor
and a party in interest with respect to the Plan; and (2) certain ancillary
transactions between the Plan and US Steel arising from certain rights retained
by US Steel related to the timberland on which the Timber Rights are based.
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Proposed Exemption
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D-11198
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FR
Citation: 68 FR 70308 (12/17/03)
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Bangs, McCullen, Butler, Foye &
Simmons, LLP Employees Profit Sharing Plan the Plan)
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Would permit the proposed lease by the Plan of certain
improved real property located in Rapid City, South Dakota, to Bangs, McMullen,
Butler, Foye & Simmons, LLP, the Plan’s sponsor and a party in interest
with respect to the Plan.
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Proposed Exemption
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L-11190
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FR
Citation: 68 FR 70310 (12/17/03)
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Painters District Council No. 4
Apprenticeship, Upgrading & Retraining Trust Fund
(the Plan)
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Would permit the proposed lease of certain space in a
building owned by the Plan to Lipsitz, Green, Fahringer, Roll, Salisbury &
Cambria, LLP, a party in interest with respect to the Plan.
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