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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 15 - Commerce and Foreign Trade |
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Subtitle B—Regulations Relating to Commerce and Foreign Trade |
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Chapter II—National Institute of Standards and Technology, Department of Commerce |
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SubChapter C—Chips Program |
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Part 231 - Clawbacks of Chips Funding |
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Subpart C - Notification, Review, and Recovery |
§ 231.304 - Initiation of review.
Latest version.
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§ 231.304 Initiation of review.
(a) The Secretary may initiate a review of a transaction:
(1) After accepting a notification pursuant to § 231.303(c); or
(2) Upon the Secretary's own initiative, where the Secretary believes that a transaction may be prohibited. In determining whether to initiate a review, the Secretary may consider all available information, including information submitted by persons other than the covered entity to notifications@chips.gov.
(b) Where the Secretary initiates review of a transaction under paragraph (a)(2) of this section, the Secretary will notify the covered entity promptly in writing.
(c) The Secretary will consult with the Secretary of Defense and the Director of National Intelligence upon the initiation of a review of any transaction.