1998 Biennial Regulatory ReviewRepeal of Part 62 of the Commission's Rules

This document seeks as part of its 1998 biennial review of regulations whether its rules governing interlocking directorates should be repealed. After reviewing the comments, the Commission released a Report and Order (Order) repealing part 62 of the rules governing interlocking directorates, because it concluded that part 62 is no longer necessary in the public interest. The Commission concludes that it should forbear from applying those provisions in section 212 of the Act that prohibit any person from holding the position of officer or director of more than one carrier subject to the Act without obtaining prior Commission authorization.