[Federal Register Volume 79, Number 44 (Thursday, March 6, 2014)]
[Rules and Regulations]
[Pages 12657-12658]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-04918]
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Rules and Regulations
Federal Register
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Federal Register / Vol. 79, No. 44 / Thursday, March 6, 2014 / Rules
and Regulations
[[Page 12657]]
NATIONAL CREDIT UNION ADMINISTRATION
5 CFR Part 9601 and 12 CFR Part 750
Technical corrections
AGENCY: National Credit Union Administration (NCUA).
ACTION: Technical corrections.
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SUMMARY: NCUA is making minor technical corrections to its
supplementary ethics regulation to correct certain statutory references
and to its regulation governing golden parachute and indemnification
payments to conform certain internal cross citations affected by two
recently revised final regulations.
DATES: These corrections are effective on March 6, 2014.
FOR FURTHER INFORMATION CONTACT: For part 9601: Hattie Ulan, Senior
Ethics Counsel, Office of General Counsel, (703) 518-6544; and for part
750: John H. Brolin, Staff Attorney, Office of General, (703) 518-6438,
both at National Credit Union Administration, 1775 Duke Street,
Alexandria, Virginia 22314.
SUPPLEMENTARY INFORMATION:
I. Background
II. Technical Corrections
III. Regulatory Procedures
I. Background
Why is NCUA issuing these corrections?
On April 17, 2013, NCUA published its final supplemental ethics
rule concerning approval of outside employment and activities.\1\ The
ethics rule only applies to NCUA employees. It does not affect credit
unions. The ethics rule as published inadvertently made a few incorrect
references to the Federal Credit Union Act in Sec. 9601.104. This
document corrects those references.
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\1\ 74 FR 22767 (April 17, 2013).
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On January 18, 2013 and May 31, 2013, NCUA published final rules
amending various parts of NCUA's regulations.\2\ Some of these
amendments renumbered sections and paragraphs of these regulations,
which affected certain internal cross citations in part 750 of NCUA's
regulations causing them to be incorrect. This document corrects those
internal cross citations.
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\2\ 78 FR 4029 (Jan. 18, 2013) and 78 FR 32545 (May 31, 2013).
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II. Technical Corrections
5 CFR 9601.104--Ethics
This document corrects 5 CFR 9601.104(a)(1), (a)(2) and (b)(1) of 5
CFR part 9601 by deleting the phrase ``of the Act'' from those
paragraphs. 5 CFR part 9601 should not reference an ``Act,'' but rather
should reference other paragraphs of part 9601. The phrase ``of the
Act'' confuses the references and should be deleted.
12 CFR Part 750--Golden Parachute and Indemnification Payments
This document amends 12 CFR 750.1, 750.4, 750.5, and 750.6 to
correct internal cross citations that were affected when a duplicative
definition of the term ``Act'' was removed from 12 CFR Sec. 750.1(a)
and the remaining definitions in that section were renumbered as part
of a technical amendments final rule.\3\ In addition, this document
amends 12 CFR 750.4(a)(4)(ii) to correct an internal cross citation to
Sec. 750.1(l). The definition of ``troubled condition'' formerly
appearing in 12 CFR 750.1(l) was removed and replaced in 12 CFR 700.2
as part of NCUA's final rule regarding the definition of troubled
condition.\4\
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\3\ 78 FR 32545 (May 31, 2013).
\4\ 78 FR 4029 (Jan. 18, 2013).
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All of these changes to 5 CFR Part 9601 and 12 CFR Part 750 correct
errors that are obvious in form and technical in nature. NCUA intends
no substantive change to its regulations by making these corrections.
III. Regulatory Procedures
Effective Date
Generally, the Administrative Procedure Act (APA) requires a
federal agency to provide the public with notice and the opportunity to
comment on agency rulemakings. The corrections discussed herein are
non-substantive and technical and are exempt from APA notice and
comment requirements.\5\ The APA permits an agency to forego the notice
and comment period under certain circumstances, such as when an action
is technical and non-substantive. NCUA finds good cause that notice and
public comments are unnecessary under section 553(b)(3)(B) of the
APA.\6\ NCUA also finds good cause to dispense with the 30-day delayed
effective date requirement under section 553(d)(3) of the APA.\7\ These
corrections, therefore, will be effective immediately upon publication.
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\5\ 5 U.S.C. 553(a)(2) and 553(b)(3)(B).
\6\ 5 U.S.C. 553(b)(3)(B).
\7\ 5 U.S.C. 553(d)(3).
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List of Subjects
5 CFR Part 9601
Conflicts of interests, Government employees.
12 CFR Part 750
Credit unions, Golden parachute payments, Indemnity payments.
By the National Credit Union Administration Board on February
27, 2014.
Gerald Poliquin,
Secretary of the Board.
For the reasons stated above, NCUA amends 5 CFR Part 9601 and 12
CFR Part 750 as follows:
Title 5--Administrative Personnel
PART 9601--SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES
OF THE NATIONAL CREDIT UNION ADMINISTRATION
0
1. The authority citation for part 9601 continues to read as follows:
Authority: 12 U.S.C. 1752a(d), 1766; 5 U.S.C. 7301; 5 U.S.C.
App. (Ethics in Government Act of 1978); E.O. 12674, 54 FR 15159, 3
CFR, 1989 Comp., p. 215, as modified by E.O. 12731, 55 FR 42547, 3
CFR, 1990 Comp., p. 306; 5 CFR 2635.105, 5 CFR 2635.403, 5 CFR
2635.502 and 5 CFR 2635.803.
Sec. 9601.104 [Amended]
0
2. Amend Sec. 9601.104 as follows:
0
a. In paragraph (a)(1), remove ``section 103 of the Act'' and add in
its place ``Sec. 9601.103''; and remove ``section 105 of the Act'' and
add in its place ``Sec. 9601.105''.
[[Page 12658]]
0
b. In paragraph (a)(2), remove ``section 103 of the Act'' and add in
its place ``Sec. 9601.103''.
0
c. In paragraph (b)(1), remove ``section 102 of the Act'' and add in
its place ``Sec. 9601.102''.
Title 12--Banks and Banking
PART 750--GOLDEN PARACHUTE AND INDEMNIFICATION PAYMENTS
0
3. The authority citation for part 750 continues to read as follows:
Authority: 12 U.S.C. 1786(t).
Sec. 750.1 [Amended]
0
4. Amend Sec. 750.1 as follows:
0
a. In paragraph (a), remove ``paragraph (c) or (i), respectively, of
this section'' and add in its place ``paragraph (b) or (h),
respectively, of this section''.
0
b. In paragraph (b)(2) introductory text, remove ``paragraph (c)(1) of
this section'' and add in its place ``paragraph (b)(1) of this
section''.
0
c. In paragraph (b)(2)(ii), remove ``paragraph (e)(2)(v) of this
section'' and add in its place ``paragraph (d)(2)(v) of this section''.
0
d. In paragraph (b)(3) introductory text, remove ``paragraphs (c)(1)
and (2) of this section'' and add in its place ``paragraphs (b)(1) and
(2) of this section''.
0
e. In paragraph (b)(3)(i), remove ``paragraph (e)(1)(ii) of this
section'' and add in its place ``paragraph (d)(1)(ii) of this
section''.
0
f. In paragraph (b)(3)(ii), remove ``paragraph (e)(1)(ii) of this
section'' and add in its place ``paragraph (d)(1)(ii) of this
section''.
0
g. In paragraph (b)(3)(v), remove ``paragraph (e)(1)(ii) of this
section'' and add in its place ``paragraph (d)(1)(ii) of this
section''.
0
h. In paragraph (d)(1)(ii)(C), remove ``Sec. 700.2(j)'' and add in its
place ``Sec. 700.2''.
0
i. In paragraph (d)(1)(iii), remove ``paragraphs (e)(1)(ii)(A) through
(E) of this section'' and add in its place ``paragraphs (d)(1)(ii)(A)
through (E) of this section''.
0
j. In paragraph (d)(2)(ii), remove ``paragraph (b) of this section''
and add in its place ``paragraph (a) of this section''.
0
k. In paragraph (d)(2)(iii), remove ``paragraph (c) of this section''
and add in its place ``paragraph (b) of this section''.
0
l. In paragraph (d)(2)(v), remove ``paragraph (e)(1)(ii) of this
section'' and add in its place ``paragraph (d)(1)(ii) of this
section''.
Sec. 750.4 [Amended]
0
5. In Sec. 750.4, amend paragraph (a)(2) by removing ``Sec.
750.1(e)(1)(ii)'' and adding in its place ``Sec. 750.1(d)(1)(ii)'',
and amend paragraph (a)(4)(ii) by removing ``Sec. 750.1(1)'' and
adding in its place ``Sec. 700.2 of this chapter''.
Sec. 750.5 [Amended]
0
6. Amend Sec. 750.5 as follows:
0
a. In paragraph (a)(2)(ii), remove ``Sec. 750.1(k)(2)(i)'' and add in
its place ``Sec. 750.1(j)(2)(i)'', and remove ``Sec. 750.1(k)'' and
add in its place ``Sec. 750.1(j)''.
0
b. In paragraph (a)(3), remove ``Sec. 750.1(k)'' and add in its place
``Sec. 750.1(j)''.
Sec. 750.6 [Amended]
0
7. In Sec. 750.6, amend paragraph (a) by removing ``Sec.
750.1(e)(2)(v)'' and adding in its place ``Sec. 750.1(d)(2)(v)''.
[FR Doc. 2014-04918 Filed 3-5-14; 8:45 am]
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