U.S. Department of Agriculture's (USDA) Grain Inspection, Packers and Stockyards Administration (GIPSA) has proposed amending the Packers and Stockyards (P&S) Act to require market agencies and dealers to register every five years.
Under the proposed rule, a registration that is not renewed would expire after five years. Under current regulations, an approved registration is effective indefinitely.
When applying for registration, the applicant must certify that its financial condition meets the P&S Act's requirements, list its type of business organization, whether it will operate on a calendar year or fiscal year basis and identify the character of its business and the species of livestock it will handle.
USDA said the change would allow GIPSA to maintain more accurate records and be more effective and efficient in enforcing the P&S Act.
The proposed rule was published in the Dec. 16, 2008, Federal Register. GIPSA is accepting public comments received by Feb. 17, 2009.
Additional information is available at http://archive.gipsa.usda.gov/rulemaking/fr08/12-16-08.pdf.