One quibble. I am pretty certain the V5 "output files" need not be in PDS/E's. 

However, yes, any executable programs built from V5 output will be binder 
program objects, and those can only live in a PDS/E or UNIX file. In other 
words, the resulting executable programs are not traditional load modules, but 
rather program objects, and will only exist in the context of a PDS/E or UNIX 
file.

Charles

-----Original Message-----
From: IBM Mainframe Discussion List [mailto:[email protected]] On Behalf 
Of Lizette Koehler
Sent: Wednesday, April 22, 2015 7:09 AM
To: [email protected]
Subject: Re: COBOL 4.2 support

One comment, check the IBMMAIN Archives for discussions on COBOL V5.  There are 
many changes to the way this compiler runs.  For one thing, the output files 
need to be PDS/E datasets for the compiler and Load libs.  

You cannot, as far as I know, copy a compiled COBOL V5 module to a PDS to run.  
It needs to be a PDS/E.

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