Hello there,

Today's NetNews reports:

If you have $50,000, you too can propose a new domain suffix. That's what 
ICANN wants as an application fee for any company or organisation which 
would like to expand the number of top level domain names. See  
http://www.icann.org/tlds/application-process-03aug00.htm

After a quick reading of this proposal (sections quoted below) it certainly
appears that groups may propose a new TLD, and also have full rights of
restriction as to whom may be granted 2nd etc level rights under that TLD.

So, (haha), why register a .com etc name, when you might have a full TLD?
But, if you want your own TLD you'd best be quick, apps close in 2 months.

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Sponsoring Organization 

An organization to which ICANN delegates some defined level of ongoing policy-formulation responsibility regarding the manner in which a particular TLD is operated ... In TLDs which have a sponsoring organization, that organization is primarily responsible for choosing the registry operator.

The extent to which certain policy-formulation responsibilities are appropriately delegated to a sponsoring organization will depend upon the characteristics of the organization that may make such delegation appropriate. These characteristics may include the mechanisms the organization proposes to use to formulate policies, its mission, who will be permitted to participate and in what way, and the degree and type of accountability to the community it will serve (to the extent these are necessary and appropriate).

Registry Operator 
The entity that is responsible for the actual operation of the registry for the TLD, including accepting registration requests (whether from registrars or directly from registrants), maintaining a database of the necessary registration data, generating zone files, and providing nameservers to publish the zone file data throughout the Internet. Although some portions of these services may be subcontracted, the registry operator is responsible for ensuring that the services are reliably provided. Where a TLD is sponsored, the sponsoring organization is primarily responsible for selecting the registry operator; otherwise ICANN selects the registry operator.

A single organization can be both a sponsoring organization and a registry operator for a TLD, provided it has the features described here that make it suitable for both roles. If a registry operator does not have features appropriate for a sponsoring organization, then the sponsoring organization must be independent of the registry operator. 

Timeline:

3 August 2000 This description of the New TLD Application Process becomes available. 

15 August 2000 Detailed New TLD Registry Application Form, instructions for filling out the application, and a statement of criteria for the Board's eventual decision to be posted. 

5 September 2000 First day on which ICANN will accept applications. Amendments to applications will be accepted until the 2 October 2000 deadline. 

2 October 2000 Deadline for ICANN's receipt of completed applications (including all supporting materials and application fees). 

5 October 2000 Portions of these applications deemed appropriate for publication for purposes of public comment or otherwise will be posted on ICANN's web site. 

19 October 2000 Close of period for public comments on proposals. 

mid-November 2000 (during or shortly after ICANN annual meeting) After approval by the Board, ICANN to announce selections for negotiations toward entry of agreements with registry sponsors and operators. 

31 December 2000 Target date for completion of negotiations.
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Cheers all ..
Stephen Loosley
www.stephen.ws