[Code of Federal Regulations]

[Title 14, Volume 1]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 14CFR14.11]



[Page 78-79]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION

 

PART 14_RULES IMPLEMENTING THE EQUAL ACCESS TO JUSTICE ACT OF 1980

--Table of Contents

 

             Subpart B_Information Required From Applicants

 

Sec. 14.11  Net worth exhibit.



    (a) Each applicant except a qualified tax-exempt organization or 

cooperative association must provide with its application a detailed 

exhibit showing the net worth of the applicant and any affiliates when 

the proceeding was initiated. If any individual, corporation, or other 

entity directly or indirectly controls or owns a majority of the voting 

shares or other interest of the applicant, or if the applicant directly 

or indirectly owns or controls a majority of the voting shares or other 

interest of any corporation or other entity, the exhibit must include a 

showing of the net worth of all such affiliates or of the applicant 

including the affiliates. The exhibit may be in any form convenient to 

the applicant that provides full disclosure of the applicant's and its 

affiliates' assets and liabilities and is sufficient to determine 

whether the applicant qualifies under the standards in this part. The 

administrative law judge may require an applicant to file additional 

information to determine the eligibility for an award.

    (b) The net worth exhibit shall describe any transfers of assets 

from, or obligations incurred by, the applicant or any affiliate, 

occurring in the one-year period prior to the date on which the 

proceeding was initiated, that reduced the net worth of the applicant 

and its affiliates below the applicable net worth ceiling. If there were 

no such transactions, the applicant shall so state.

    (c) Ordinarily, the net worth exhibit will be included in the public 

record of the proceeding. However, an applicant that objects to public 

disclosure of the net worth exhibit, or any part of it, may submit that 

portion of the exhibit directly to the ALJ or adjudicative officer in a 

sealed envelope labeled ``Confidential Financial Information,'' 

accompanied by a motion to withhold the information.

    (1) The motion shall describe the information sought to be withheld 

and explain, in detail, why it should be exempt under applicable law or 

regulation, why public disclosure would adversely affect the applicant, 

and why disclosure is not required in the public interest.

    (2) The net worth exhibit shall be served on the FAA counsel, but 

need not be served on any other party to the proceeding.

    (3) If the ALJ or adjudicative officer finds that the net worth 

exhibit, or any part of it, should not be withheld from disclosure, it 

shall be placed in the public record of the proceeding. Otherwise, any 

request to inspect or copy



[[Page 79]]



the exhibit shall be disposed of in accordance with the FAA's 

established procedures.



[54 FR 46199, Nov. 1, 1989, as amended by Amdt. 14-03, 64 FR 32935, June 

18, 1999]