[Federal Register Volume 60, Number 31 (Wednesday, February 15, 1995)]
[Rules and Regulations]
[Pages 8571-8572]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-3674]
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FEDERAL COMMUNICATIONS COMMISSION
47 CFR Part 24
[PP Docket No. 93-253]
Implementation of Section 309(j) of the Communications Act--
Competitive Bidding
AGENCY: Federal Communications Commission.
ACTION: Final rule; correction.
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SUMMARY: This document contains corrections to the Federal Register
document containing the synopsis of the Fifth Memorandum Opinion and
Order in PP Docket 93-253, which was published December 7, 1994 (59 FR
63210). The Federal Register document contained regulations related to
the broadband PCS auction rules.
EFFECTIVE DATE: February 6, 1995.
FOR FURTHER INFORMATION CONTACT:
Sue McNeil (202) 418-0620.
SUPPLEMENTARY INFORMATION:
Background
The Federal Register summary that is the subject of these
corrections sets forth rules designed to ensure that small businesses,
rural telephone companies and businesses owned by minorities and women
have the opportunity to compete for and obtain licenses for broadband
personal communications services (broadband PCS) and to attract the
investment capital needed to have meaningful involvement in building
and managing this nation's broadband PCS infrastructure.
Need for Correction
As published, the Federal Register document inadvertently omitted
portions of rules which need to be inserted to avoid confusion. The
omitted rule portions were contained in the original document as
released by the Federal Communications Commission on November 23, 1994.
Correction of Publication
Accordingly, the publication on December 7, 1994 of the Federal
Register final rule, FR Doc. 94-30075, is corrected as follows:
1. Section 24.720(l)(3) introductory text and examples on page
63237, columns is corrected to read as follows:
Sec. 24.720 Definitions.
* * * * *
(l) Affiliate.
* * * * *
(3) Identity of interest between and among persons. Affiliation can
arise [[Page 8572]] between or among two or more persons with an
identity of interest, such as members of the same family or persons
with common investments. In determining if the applicant controls or is
controlled by a concern, persons with an identity of interest will be
treated as though they were one person.
Example 1. Two shareholders in Corporation Y each have attributable
interests in the same PCS application. While neither shareholder has
enough shares to individually control Corporation Y, together they have
the power to control Corporation Y. The two shareholders with these
common investments (or identity of interest) are treated as though they
are one person and Corporation Y would be deemed an affiliate of the
applicant.
Example 2. One shareholder in Corporation Y, shareholder A, has an
attributable interest in a PCS application. Another shareholder in
Corporation Y, shareholder B, has a nonattributable interest in the
same PCS application. While neither shareholder has enough shares to
individually control Corporation Y, together they have the power to
control Corporation Y. Through the common investment of shareholders A
and B in the PCS application, Corporation Y would still be deemed an
affiliate of the applicant.
* * * * *
3. Section 24.720(o) on page 63238, column 3, corrected to read as
follows:
Sec. 24.720 Definitions.
* * * * *
(o) Preexisting entity; Existing investor. A preexisting entity is
an entity that was operating and earning revenues for at least two
years prior to December 31, 1994. An existing investor is a person or
entity that was an owner of record of a preexisting entity's equity as
of November 10, 1994, and any person or entity acquiring de minimus
equity holdings in a preexisting entity after that date.
Note: In applying the term existing investor to de minimus
interests in preexisting entities obtained or increased after
November 10, 1994, the Commission will scrutinize any significant
restructuring of the preexisting entity that occurs after that date
and will presume that any change of equity that is five percent or
less of the preexisting entity's total equity is de minimis. The
burden is on the applicant (or licensee) to demonstrate that changes
that exceed five percent are not significant.
Federal Communications Commission.
William F. Caton,
Secretary.
[FR Doc. 95-3674 Filed 2-14-95; 8:45 am]
BILLING CODE 6712-01-M
