Document 2JBxqNnNmKzKNOYLbZ4nnOxBp

CAPCO PIPE COMPANY , INC.--A Subsidiary of ASARCO Incorporated 1400 Twentieth Street, South * P. O. Box 3435 / Birmingham, Alabama 35255 * Phone 205 * 933-7281 S. G. LEYSHOCK Vies prvsldont--Operations May 15, 1981 Mr. Joseph C. Jackson President A/C Pipe Producers Association Suite 1008 1600 Wilson Boulevard Arlington, Virginia 22209 Reference: Standards Update Binder Dear Joe: I am in. receipt of the Standards Update binder and will be responsible for its upkeep at Capco. I was not aware that this was in the works, but I would like to congratulate you on an excellent idea. I am sure that this will be extremely helpful in trying to keep up with all of the organizations that we have to contend with. Sincerely, SGL/gj . Copy to: Mr. I. L. Taylor S. G. Leysfteck Vice President-Operations Quality Piping Malctials / CAPCO JEN 0033210 A/C Pipe Producers Association TO Executive Committee fft. yyCzfeA--... ........ . froy Z. F. Welch, Vice President SUBJECT * ACTION REQUIRED: Review for information Internal Correspondence DAiTE December 7, 1982 Enclosed for your information is the final issuance of Office of Management and Budget (OMB) Circular Number 8-119, "Federal Participation in the Development and Use of Voluntary Standards." JFW/ajb Enclosure cc: A. Kahn, Esq. copies to: Executive Committee L. Ambler J. Cran Taylor 0172120601 Chrono CAPCO JEN 0033211 49496 Federal Register / Vol. 47, No. 211 /'Monday, November 1, 1982 f Notices- held November 15,1982, from 9:00.a.m. FOR FURTHER INFORMATION CONTACT: B. Regulatory Applications - , - mvi-.T'.' to 5:00 p.m. and November 18 to 20,1982 from 9:00 a.m. to 5:30 p.m., in the 11th floor reception area of the Columbia Plaza Office Complex, 2401 E Street, David F. Baker, Office of Federal - Procurement Policy, Office of Management and Budget, Washington, ' DC 20503 (202) 395-7207. . Comment Some commenters : . - . suggested that the Circular should be .limited to procurement applications, and that Federal agencies should not be NW.. Washington. D.C.. 20508.' This meeting is for the purpose of panel review, discussion, evaluation, and recommendation on applications for financial assistance under the National Foundation on the Arts and the i Humanities Act of 1965, as amended, including discussion of information given in confidence to the agency by grant applicants. In accordance with the determination of the Chairman published in the Federal Register of February 13,1980, these sessions will be closed to the public pursuant to subsections (c)(4). (6) and 9(b) of section SUPPLEMENTARY INFORMATION: On April required to use voluntary standards for... 21,1982, the Office of Management and regulatory purposes. Some commenters I . Budget published a draft Circular, suggested, in addition, that the Circular- ` subject as above, for a 60-day period of should not apply to "independent public and agency comment Comments . regulatory agencies".' were received from more than 120 Response: We believe the benefits to. individuals and organizations, including . be derived from the procurement use of Federal agencies, business firms, industry associations, professional .. groups and private citizens. There follows a summary of the major comments grouped by subject and a -. response to each--including a brief description of changes made as a result standards are equally valid for regulatory applications--particularly.'the benefits of assuring private.sector input . into Federal regulatory activities while' reducing the potential for duplicating '... existing, adequate voluntary standards '' with Government standards. With regard to the second concern, the " 552b of Title 5, United States Code. of the comments. Many other changes of - Circular does not "require" Federal- Further information withreference to -.a less significant character were made agencies to use voluntary standards for this meeting can be obtained from Mr. to increase clarity, simplicity, precision regulatory purposes. It establishes a John H. Clark, Advisory Committee and readibility, and to reduce the - policy preference in that regard but Management Officer, National burdens of compliance as much as leaves to the agencies, themselves, the ' . Endowment for the Arts, Washington, ~ possible. , _ '! decision as to whether to adopt a given D.C. 20506, or call (202) 634-6070. John H. Clark, ". .. Director. Office ofCouncil andPanel . A. Procedural Criteria Imposed on Standards Developers voluntary standard for a specific Federal regulatory purpose. (The legal - ' -" '- -requirements associated with such ' - ' - Operations, NationalEndowmentforthe Arts. ' Comment; Several commenters adoption, such'as those of the October 21.1982. objected to OMB's deletion of specific Administrative Procedures Act will, of - (FK Doc. 02-XKWr Filed 10-23-ai MS ra| procedural criteria which the previous course, continue to apply.) We believe- BILLING CODE 7537-01-M version of the Circular imposed on such an approach is entirely appropriate voluntary standards bodies as a with respect to independent regulatory precondition to Federal participation. agencies as with the rest of the OFFICE OF MANAGEMENT ANET BUDGET -- -I Issuance of Circular No. A-119, "Federal Participation in the Development and Use of Voluntary Standards" agency: Office of Management and Budget. action: Final Issuance of OMB Circular . No. A-119, "Federal Participation in the Development and Use of Voluntary- ' Standards." summary: This OMB Circular provides policy and administrative guidance to Federal agencies on using voluntary standards for procurement and regulatory purposes, on participating with private sector organizations to develop such standards, and coordinating Executive Branch participation in the development of voluntary standards. Implementation of this Circular is expected to result in reduced costs to the Government in developing and maintaining standards for products, systems and services. They argued that such criteria-- Executive Branch. -. intended to increase public participation and openness--would help to minimize C. Role of the Department of Commerce the potential for anti-trust activities. Comment: Several commenters Other commenters suggested that while objected to the requirements that the . such procedures should not be Department of Commerce maintain mandatorily imposed. OMB should listings of (1) voluntary and Government instruct agencies to encourage private standards, (2) voluntary standards standards developers to follow such bodies, and (3) those standards procedures. organizations with which Federal Response: With regard to the inclusion of procedural criteria and their mandatory imposition on standard developers, we have concluded that imposition of the mandatory procedures contained in the previous edition of the Circular is inappropriate, burdensome and costly and that the question of imposing such criteria is peripheral to the fundamental aims of the Circular. agencies interact--on the grounds that -" this would result in extensive and costly reporting requirements. Other commenters suggested that the agency ' ' reporting requirements contained in the Circular were, themselves, overly burdensome. . Response: We agree. The ;- requirements to maintain various listings have been eliminated. The provisions dealing with reports on.- - We do agree that, as with any human agency implementation of the Circular- " endeavor, the voluntary standards have been revised to require that reports development process is vulnerable to - be summary, as opposed to detailed, in abuse. Consequently, we have cautioned nature. ' . Federal agencies to beware of such potential (Para. 7). We have also D. Voluntary Dispute Resolution Service provided guidance to agencies in the form of a letter from the Department of Comment': Some commenters objected to our deletion of the requirement that EFFECTIVE date: This Circular, which Justice, dated June 22,1982, which the Department of Commerce establish a supersedes OMB Circular No. A-119, discusses suggested agency approaches program to make available a "voluntary dated January 17,1980, is effective upon to the question of public participation in ' dispute resolution service" to handle -. - publication. private sector standards development - precedural complaints brought by . t I " '1 CAPCO JEN 0033212 Federal Register / Vol. 47, No. 211 / Monday," November 1, 1982 / Notices" ' 49497 interested parties against voluntary Subject: OMB Circular No. A-119. "Federal b. Standard means a prescribed set of . -. . standards bodies. Those commenters suggested that such a mechanism would provide an impartial means of resolving standards disputes without costly and lengthy litigation. Response: While we take no position on the substantive merits of such a mechanism, we are satisfied that the requirement to establish such a service Participation in the Development and rules, conditions, or requirements concerned . ' Use of Voluntary Standards" with the definition of terms: classification of Attached, for your implementation, is a- ~ revision to OMB Circular No. A-119 which provides guidance to agencies in working . 'components; delineation ofprocedures; . specification of dimensions, materials, performance, design, or operations; ;. - with, and using the products of, private sector measurement of quality and quantity in .. standards organizations. The effect of this describing materials, products, systems. c' - revision is to eliminate the costly, services, or practices: or descriptions of fit unnecessary, and burdensome aspects of the - and measurement of size. . - Circular, while continuing to encourage ' c. Voluntary standards are established . is not an appropriate element for agency participation in the development of generally by private sector bodies and are * inclusion in this Circular. Agencies with private sector standards. " available for use by any person or mission concerns in this area (e.g.. . Also attached for your information and use organization, private or governmental, the-'-' " Commerce, Justice, etc.) may, of course, .- consider establishing such a service as it is within their province to do so. The- creation bf the mechanism is clearly ' - peripheral to the policy issues dealt with in the Circular, however, which are ' limited to Federal participation in the development and use of voluntary is a letter, dated June 22.1982. from the - Department of Justice, which provides "" ' guidance in the implementation of the " Circular--particularly as it relates to working with private sector groups to develop needed standards. . .` " Executive Office of the President . Office ofManagement and Budget term includes what are commonly referred to" as "industry standards" as well as . "consensus standards", but does not include ' - professional standards of personal conduct ' .' institutional codes of ethics, private standards of individual firms, or standards' ` ' mandated by law, such as those'contained in the United States Pharmacopeia and the National Formulary, as referenced in 21' -- standards. E. Single Federal Position October 26.1982.- -... . : Circular No. A-119--Revised 'V U.S.C.3S1. ' ...... . d. Government standards include individual agency standards and - ~ Comment: Many commenters . - To the Heads of Executive Departments and specifications as well as Federal and Military ; suggested that the provisions of the .. .. Establishments .......... standards and specifications. Circular that required agencies to , Subject: Federal Participation in the e. Voluntary standards bodies are private ' coordinate their views and express a single Federal position in private sector standards development activities were. -. unnecessary and unworkable--and that establishment of a mechanism to ' achieve, these purposes would be costly and lead to lengthy delays in the - standards development process. ' Response: We continue to believe that agencies should endeavor to coordinate their views and present single Federal Development and Use of Voluntary sector domestic or multinational .` Standards . organizations--such as nonprofit ' : 1. Purpose. This Circular establishes policy organizations, industry associations,' to be followed by executive agencies in . professional and technical societies, working with voluntary standards bodies. It ' also establishes policy to be followed by executive branch agencies in adopting and using voluntary standards. . institutes, or groups, and recognized test ' , laboratories--that plan, develop, establish, or coordinate voluntary .standards.............. f. Standards-developing groups are ' ' 2. Rescissions. This Circular supersedes committees, boards, or any other principal ' - OMB Circular No. A-119, dated January 17, 1980, which is rescinded. subdivisions of voluntary standards bodies. '. established by such bodies for the purpose of 3. Background. Many Governmental developing, revising, or reviewing standards, positions in matters of paramount importance. We agree, however, that the requirement to do so in all such instances is unreasonable and could lead to bureaucratic delays. Consequently, we have eliminated the requirement that Federal positions must be developed in all instances, as well as those provisions which would have required the Secretary of Commerce to functions involve products or services that and which are bound by the procedures of. must meet reliable standards. Many such - ' those bodies. , .. . standards, appropriate or adaptable for the g. Adoption means the use of the latest . Government's purposes, are available from edition of a voluntary standard in whole! in private voluntary standards bodies. part, or by reference for procurement Government participation in the standards- purposes and the inclusion of the latest related activities of these voluntary bodies edition of a voluntary standard in whole, in provides incentives and opportunities to part, or by reference in regulation(s). establish standards that serve national h. Secretary means the Secretary of . needs, and the adoption of voluntary Commerce or that Secretary's designee. standards, whenever practicable and 8. Policy. It is the policy of the Federal appoint a "lead" agency when appropriate, eliminates the cost to the Government in its procurement and disagreements as to the nature of the Government of developing its own standards.. regulatory activities to: : ,, Government's position occurred on a given issue. We continue to expect agency representatives to make a reasonable effort to present a single Federal position reflective of the public interest on matters on paramount interest in those standards activities Adoption of such standards also furthers the policy of reliance upon the private sector to supply Government needs for goods and services, as enunciated in OMB Circular No.. A-76. 4. Applicability. This Circular applies to all executive agency participation in voluntary standards activities, domestic and a. Rely on voluntary standards, both _> ' domestic and international, whenever feasible and consistent with law and - - regulation pursuant to law; > b. Participate in voluntary standards ,. bodies when such participation is in the public interest and is compatible with agencies' missions, authorities, priorities,- and wherein two or more agencies : international, but not to activities carried out . budget resources: and . - . participate. pursuant to treaties and international . c. Coordinate agency participation in Candice C. Bryant, standardization agreements. \ ' voluntary standards bodies so that (1) the Acting Deputy Assistant. Directorfor Administration. 5. Definitions. As used in this Circular: most effective use.is made of agency - . a. Executive agency (hereinafter referred to resources and representatives: and (2) the .-. as "agency") means any executive views expressed by such representatives are Executive Office of the President department, independent commission, board, in the public interest and. as a minimum, do Office ofManagement and Budget . October 26.1982. bureau, office, agency. Government-owned or--controlled corporation or other establishment of the Federal Government, - not conflict with the interests and established views of the agencies. . 7. Policy Guidelines. In implementing the. Memorandum to Heads of Executive including regulatory commission or board. It policy established by this Circular, agencies ; Departments and Agencies does not include the legislative or judicial should recognize the positive contribution of From: David A. Stockman branches of the Federal Government. standards development and related activities. " l' I- ' *1 CAPCO JEN 0033213 - 49498 Federal Register / Vol. 47, No. 211 / Monday, November 1, 1982 / Notices When properly conducted, standards of voluntary standards bodies and standards- development can increase productivity and developing groups should be actively efficiency in industry, expand opportunities encouraged and promoted by agency officials for international trade, conserve resources, when consistent with the provisions of and improve health and safety. It also must paragraph 6b. be recognized, however, that these activities, (2) Agency employees who, at Government if improperly conducted, can suppress free - expense, participate in standards activities of and fair competition. Impede innovation and . voluntary standards bodies and standards- technical progress, exclude safer and less . . developing groups should do so as expensive products, or otherwise adversely specifically authorized agency affect trade, commerce, health, or safety. Full representatives.. -. account shall be taken of the impact on the (3) Agency participation in voluntary economy, applicable Federal laws, policies, standards bodies and standards-developing and national objectives, including, for groups does not, of itself, connote agency example, laws and regulations relating to ...., agreement with, or endorsement of, decisions antitrust, national security, small business, reached by such bodies and groups or of product safety, environment, technological. ' standards approved and published by . development, and conflicts of interest. It . voluntary standards bodies. should also be noted, however, that the (4} Participation by agency representatives provisions of this Circular are intended for should be aimed at contributing to the internal management purposes only and are . development of voluntary standards that will not intended to (1) create delay in the eliminate the necessity for development or administrative process, (2) provide new' maintenance of separate Government grounds for judicial review, or (3) create legal' standards. rights enforceable against agencies or their . {Sj Agency representatives serving as officers. The following policy guidelines are - members of standards-developing groups provided to assist and govern implementation should participate actively and on a basis of of the policy enunciated in paragraph S. equality with private sector representatives. a. Reliance on Voluntary Standards. (1) In doing so, agency representatives should Voluntary standards that will serve agencies' - not seek to dominate such groups. Active purposes and are consistent with applicable participation is intended to include full laws and regulations should be adopted and' involvement in discussions and technical used by Federal agencies in the interests of debates, registering of opinions and, if greater economy and efficiency, unless they selected, serving as chairpersons or in other are specifically prohibited by law from doing official capacities. Agency representatives so. ; may vote, in accordance with the procedures . (2) Voluntary standards should be given of the voluntary standards body, at each preference over non-mandatory Government stage of standards development, unless standards unless use ofsuch voluntary specifically prohibited from doing so by law standards would adversely affect or their agencies. performance or cost, reduce competition, or (6) The number of individual agency have other significant disadvantages. participants in a given voluntary standards Agencies responsible for developing activity should be kept to the minimum Government standards should review their required for effective presentation of the existing standards at least every five years various program, technical, or other concerns and cancel those for which an adequate and of Federal agencies. appropriate voluntary standard can be (7) The providing of Agency support to a substituted. voluntary standards activity should be (3) In adopting and using voluntary limited to that which is clearly in furtherance standards, preference should be given to of an agency's mission and responsibility. those based on performance criteria when Normally, the total amount of Federal support such criteria may reasonably be used in lieu should be no greater than that of all private of design, material, or construction criteria. sector participants in that activity except (4) Voluntary standards adopted by when it is in the direct and predominant Federal agencies should be referenced, along interest of the Government to develop a with their dates of issuance and sources of standard or revision thereto and its availability, in appropriate publications, development appears unlikely in the absence . regulatory orders, and related in-house of such support. The form of agency support, documents. Such adoption should take into subject to legal and budgetary authority, may account the requirements of copyright and include: other similar restrictions. (a) Direct financial support: e.g., grants, . (5) Agencies should not be inhibited, if sustaining memberships, and contracts; within their statutory authorities, from (b) Administrative support: e.g.. travel developing and using Government standards costs, hosting of meetings, and secretarial in the event that voluntary standards bodies - functions; cannot or do not develop a needed, (cj Technical support: e.g., cooperative acceptable standard in a timely fashion. Nor testing for standards evaluation and should the policy contained in this Circular participation of agency personnel in the be construed to commit any agency to the use activities of standards-developing groups; of a voluntary standard which, after due and consideration, is, in its opinion, inadequate, (d) Joint planning with voluntary standards does not meet statutory criteria, or is bodies to facilitate a coordinated effort in otherwise inappropriate. identifying and developing needed standards. b. Participation in Voluntary Standards (8) Participation by agency representatives Bodies, (lj Participation by knowledgeable in the policymaking process of voluntary agency employees in the standards activities standards bodies, in accordance with the procedures of those bodies, is encouraged-- particularly in matters such as establishing priorities, developing procedures for preparing, reviewing, and approving standards, and creating standards-developing groups. In order to maintain the private, nongovernmental nature of such bodies, however, agency representatives should ' refrain from decisionmaking involvement in the internal day-to-day management of such bodies (e.g,, selection of salaried officers and employees, establishment ofstaff salaries and administrative policies}. (9) This Circular does not provide guidance concerning the internal operating procedures that may be applicable to voluntary standards bodies because of their -- relationships to agencies under this Circular. Agencies should, however, carefully consider what laws or rules may apply in particular instance because of these relationships. For example, these relationships may involve the ' Federal Advisory Committee Act, as amended (5 U.S.C. App. I), or a provision of " ' an authorizing statute for a particular agency.' Agencies are best able to determine what laws and policies should govern particular > relationships and to assess the extent to which competition may be enhanced and cost-effectiveness increased. Questions relating to anti-trust implications of such relationships should be addressed to the Attorney General. -- 8. Responsibilities, a. The Secretary will: (X) Coordinate and foster executive branch implementation of the policy.in paragraph 8 of this Circular, and may provide administrative guidance to assist agencies in implementing paragraph 8.b. (5} of this Circular; (2} Establish an interagency consultative mechanism to advise the Secretary and agency heads in implementing the policy. - - contained herein. That mechanism shall provide for participation by all affected agencies and ensure that their views are considered; and (3) Report to the Office of Management and Budget concerning implementation of this Circular. b. The heads of agencies concerned with standards will: (1} Implement the policy in paragraph 8 of this Circular in accordance with the policy guidelines in paragraph 7 within 120 days of issuance; (2) Establish procedures to ensure that agency representatives participating in voluntary standards bodies and standards- developing groups will, to the extent possible, ascertain the views of the agency on matters of paramount interest and will, as a minimum, express views that are not inconsistent or in conflict with established agency views; (3) Endeavor, when two or more agencies participate in a given voluntary standards body or standards-developing group, to coordinate their views on matters of paramount importance so as to present, whenever feasible, a single unified position. ' (4) Cooperate with the Secretary in carrying out his responsibilities under this ' Circular; and t CAPCO JEN 0033214 Federal Register / Vol. 47, No. 211 / Monday, November 1, 1982 / Notices 49499 (5) Consult with the Secretary, as The Department believes that federal accompanied with broad federal awareness necessary, in the development and issuance participants should encourage the adoption of of the practical and competitive advantages of, internal agency procedures and guidance procedures to foster access to standard of industry-wide access to private standards implementing this Circular, and submit, in setting activities and transparency in such bodies. Such access is an asset to federal . , response to the request of the Secretary, activities. Such procedures facilitate the participation in private, standards activities, summary reports on the status of agency development of standards acceptable to the but it is also of great importance when interaction with voluntary standards bodies. ' entire affected industry as well as to federal agencies, without participation in the 9. Reporting Requirements. Three years consumers. In particular, notice and process, merely adopt standards for . ' from the date of issuance of this Circular, and opportunity for comment help assure that " procurement or regulatory use. each third year thereafter, the Secretary will standards will be based on adequate As we indicated in our previous comments, submit to the Office of Management and information as to their utility and private activity is not, by virtue of Budget a brief summary report on the status . consequences. Moreover, it is especially governmental participation or approval, of agency interaction .with voluntary important that performance criteria be given shielded from the antitrust laws. Federal standards bodies. As a minimum, the report a prominent, perhaps predominant, place in agency participation in a standards body, will include the following information. . . any standards activity. Federal agency however, may imply federal approval of the - a. The nature and extent of agency - representatives, therefore, should advocate, process and of the resulting standard, and' v ` participation in the development and ' as strongly as possible, procedures designed perhaps lead private participants to become - utilization of voluntary standards; and to assure that a broad range of information is lax in their own antitrust scrutiny. To dispel b. An evaluation of the effectiveness of the . solicited, and that performance criteria are policy promulgated in this Circular and central elements of the resulting standards. _ recommendations ofchange. ^ In addition to the practical advantages of 10. Policy Review. The policy contained in . open standards proceedings, such safeguards this Circular shall be reviewed for . would mitigate the substantial effectiveness by the Office of Management anticompetitive potential inherent in private any false impressions, federal agency representatives should inform private . S' participants that federal participation does not remove antitrust concerns, as well as ` ' advocate that appropriate procedures be employed in the standards proceedings.- -- and Budget three years from the date of ` ' issuance. ` ' 11. inquiries. For information concerning this Circular, contact the Office of Management and Budget, Office of Federal Procurement Policy, telephone 202/395-7207. ~ standards groups. The importance of assuring adequate consideration of competition in the work of private standards bodies was noted recently by the Supreme Court in American Society ofMechanical Engineers, Inc. v. Hydrolevel Corp. The case involved a Sincerely yours, ' Ronald G. Carr,- ActingAssistantAttorney General, Antitrust Division. ': [FR Doc 82-30017 Filed 10-29-0% MS am] David A. Stockman, Director. ' product standard which had been adopted in BILLING CODE 3110-O1-M 48 states and all but one of the Canadian . provinces. The Court observed that Department of Justice Antitrust Division ". organizations creating such standards could be "rife with opportunities for anticompetitive activity." Federal agencies SECURITIES AND EXCHANGE COMMISSION ; '' Office ofthe Assistant Attorney General June 22.1982. Mr. Donald E. Sowle;Administratorfor FederalProcurement, Policy Office of Management and Budget Washington, D.C. 20503 Dear Mr. Sowle: I am writing to express the views of the Department of Justice on ought to strongly encourage these private groups to ensure consideration of all relevant viewpoints and interests including those of consumers, and potential or existing industry , participants. This country's international obligations and policy, as expressed in the Standards Code negotiated during the Tokyo Round of the Multilateral Trade Negotiations, see the Agreement on Technical Barriers to Trade, [Rel. No. 12750; 812-5266] Daily Tax Free Income Fund, Inc.; .. Filing of an Application . October 19.1982. / ' '' Notice is hereby given that Daily Tax Free Income Fund, Inc., 100 Park Avenue, New York, N.Y. 10017 (the competition policy issues raised by the codified at 19 U.S.C.A. 2531 el seq. (1980), "Applicant"), registered under the Revised OMB Circular No. A-119, "Federal provide another important reason for federal Investment Company Act of 1940 Participation in the Development and Use of Voluntary Standards" published for comment in the Federal Register on April 29,1982 (47Fed. Reg. 16, 919). In our comments on previous drafts of the Circular, dated December 26,1976 and June 13,1978, we have supported a policy of federal adoption of privately developed agency participants to encourage the adoption of open procedures for private standards groups. This Code, approved by Congress as well as by our leading trading partners, seeks to prevent the creation of product standards which discriminate against import competition. It requires central governmental bodies to provide notice and ("Act") as an open-end, diversified, management investment company, filed' an application on August 6,1982, and anamendment thereto on October 18,1982, requesting anorder of the Commission, pursuant to Section 6(c) of the Act, exempting Applicant and any additional standards when appropriate. Through opportunity to comment in their own separate portfolios that may be - participation in. and support for, private standards making activities, and encourages . established by Applicant in the future,. standards making activities, agencies may' benefit greatly from private expertise and will avoid the wasteful duplication of cost and effort involved in developing their own in-house standards. The Department of Justice is not opposed to the policy announced in Revised OMB Circular A-119, governments to take reasonable measures to. ensure that non-governmental bodies provide similar protection. Where the federal government is in fact involved in the private . group, the obligations of the Standards Code would appear even stronger. Open procedures, specifically adequate notice and from the provisions of Section 2(a)(41) of the Act and Rules 2a-4 and 22c-l under the Act to the extent necessary to permit Applicant to value its assets using the amortized cost method of valuation. All interested persons are referred to the which would eliminate the rigid "due opportunity to comment, would further the application on file with the Commission ' process" precondition to federal participation objectives of the Standards Code, and would . for a statement of the representations in private standards activities. Such a precondition is overly restrictive, since as a practical matter federal agencies will often be required to adopt the standards developed regardless of federal participation in their development. Thus, in our view, the better solution is to participate in standards setting bodies and work within them to assure that substantially reduce the possibility that . discriminatory, anticompetitive standards will be developed. The Circular would encourage use of' voluntary standards for regulatory and other purposes. Although we applaud this expansion of the scope of the Circular, we believe that broadened federal use of contained therein, which are - summarized below. Applicant states that it was organized as a corporation under the laws of Maryland on July 22,1982, and that it registered under the Act on July 22,1982. Although it will have initially only one appropriate procedures are adopted. privately developed standards should be investment portfolio the Board of t [ T CAPCO JEN 0033215