64FR66157 New Procedures in Rail Acquisitions, Mergers and Consolidations
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Posting-number: Volume 64, Issue 226, Page 66157
[Federal Register: November 24, 1999 (Volume 64, Number 226)]
[Proposed Rules]
[Page 66157]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24no99-28]
[[Page 66157]]
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DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
49 CFR Parts 1105 and 1180
[Ex Parte No. 282 (Sub-No. 19)]
New Procedures in Rail Acquisitions, Mergers and Consolidations
AGENCY: Surface Transportation Board.
ACTION: Proposed rule, withdrawal.
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SUMMARY: The Surface Transportation Board (Board) is withdrawing the
proposed rule and discontinuing the Ex Parte No. 282 (Sub-No. 19)
rulemaking proceeding relating to new procedures in rail acquisitions,
mergers and consolidations.
DATES: The proposed rule is withdrawn and the rulemaking proceeding is
discontinued on November 24, 1999.
FOR FURTHER INFORMATION CONTACT: Beryl Gordon, (202) 565-1600. [TDD for
the hearing impaired: (202) 565-1695.]
SUPPLEMENTARY INFORMATION: In a notice of proposed rulemaking (NPR)
that was served January 26, 1995 (an inadvertently omitted Appendix A
was served January 27, 1995), and that was published in the Federal
Register on January 31, 1995, at 60 FR 5890, the Interstate Commerce
Commission (Commission) proposed to revise parts 1105 and 1180 of Title
49, Code of Federal Regulations, in order to establish procedures that
might ensure a more expeditious handling of proceedings involving
transactions subject to the jurisdiction of the Commission under former
49 U.S.C. 11343, 11344, and 11345. As respects ``major'' transactions
(i.e., transactions involving the merger or control of two or more
Class I railroads), the Commission proposed a 180-day procedural
schedule (i.e., a procedural schedule under which the final decision
would be issued 180 days after the date on which the primary
application was filed). As respects ``significant'' transactions (i.e.,
transactions that are of regional or national transportation
significance but that do not involve the merger or control of two or
more Class I railroads) and ``minor'' transactions (i.e., transactions
that are neither major nor significant), the Commission proposed
conforming changes to 49 CFR 1180.4 (to ensure that the timetables
applicable to significant transactions and minor transactions would be
at least as expedited as the timetable applicable to major
transactions). The Commission also proposed conforming changes to its
49 CFR part 1105 environmental regulations.
The ICC Termination Act of 1995, Public Law 104-88, 109 Stat. 803
(ICCTA), which was signed into law by President Clinton on December 29,
1995, abolished the Commission, established the Board, reenacted with
certain changes the relevant statutory provisions, and transferred to
the Board responsibility for the performance of functions respecting
those statutory provisions. See ICCTA section 101 (abolition of the
Commission); new 49 U.S.C. 701(a), as enacted by ICCTA section 201(a)
(establishment of the Board); new 49 U.S.C. 11323, 11324, and 11325, as
enacted by ICCTA section 102(a) (these are the post-1995 versions, as
respects railroads, of what had been 49 U.S.C. 11343, 11344, and 11345,
respectively); new 49 U.S.C. 702, as enacted by ICCTA section 201(a)
(except as otherwise provided, the functions previously performed by
the Commission shall henceforth be performed by the Board); ICCTA
section 204(b)(1) (any proceeding pending before the Commission at the
time of the enactment of ICCTA shall be transferred to the Board,
insofar as that proceeding concerns functions transferred to the
Board). In accordance with the mandate of ICCTA section 204(b)(1), the
Ex Parte No. 282 (Sub-No. 19) rulemaking proceeding, which had been
instituted by the Commission in the 1995 NPR, was transferred to the
Board.
We have decided to withdraw the rule proposed by the Commission in
the 1995 NPR and to discontinue the Ex Parte No. 282 (Sub-No. 19)
rulemaking proceeding. Our experience with the administration of major
transaction cases handled under new 49 U.S.C. 11323-25 has led us to
conclude that we should continue the case-by-case approach under which,
as respects any particular major transaction, we can adopt a procedural
schedule best suited to the full and fair development of the record for
that transaction. See, e.g., CSX Corporation and CSX Transportation,
Inc., Norfolk Southern Corporation and Norfolk Southern Railway
Company--Control and Operating Leases/Agreements--Conrail Inc. and
Consolidation Rail Corporation, STB Finance Docket No. 33388, Decision
No. 6 (STB served May 30, 1997, and published that day in the Federal
Register at 62 FR 29387) (adopting a 350-day procedural schedule to
govern the major transaction at issue in the STB Finance Docket No.
33388 proceeding); Canadian National Railway Company, Grand Trunk
Corporation, and Grand Trunk Western Railroad Incorporated--Control--
Illinois Central Corporation, Illinois Central Railroad Company,
Chicago, Central and Pacific Railroad Company, and Cedar River Railroad
Company, STB Finance Docket No. 33556, Decision No. 6 (STB served Aug.
14, 1998, and published that day in the Federal Register at 63 FR
43744) (adopting a 300-day procedural schedule to govern the major
transaction at issue in the STB Finance Docket No. 33556 proceeding).
Small Entities
The Board certifies that the action taken in this proceeding will
not have a significant economic impact on a substantial number of small
entities.
Environmental and Energy Considerations
The action taken in this proceeding will not significantly affect
either the quality of the human environment or the conservation of
energy resources.
Board Releases Available Via the Internet
Decisions and notices of the Board, including this notice, are
available on the Board's website at ``WWW.STB.DOT.GOV.''
Decided: November 17, 1999.
By the Board, Chairman Morgan, Vice Chairman Clyburn, and
Commissioner Burkes.
Vernon A. Williams,
Secretary.
[FR Doc. 99-30543 Filed 11-23-99; 8:45 am]
BILLING CODE 4915-00-P