§ 800.506 - Completion or termination of investigation and report to the President.  


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  • § 800.506 Completion or termination of investigation and report to the President.

    (a) Subject to paragraph (e) of this section, the Committee shall complete an investigation no later than the 45th day after the date the investigation commences, or, if the 45th day is not a business day, no later than the next business day after the 45th day.

    (b) Upon completion or termination of any investigation, the Committee shall send a report to the President requesting the President's decision if:

    (1) The Committee recommends that the President suspend or prohibit the transaction;

    (2) The members of the Committee (other than a member designated as ex officio under section 721(k)) are unable to reach a decision on whether to recommend that the President suspend or prohibit the transaction; or

    (3) The Committee requests that the President make a determination with regard to the transaction.

    (c) In circumstances when the Committee sends a report to the President requesting the President's decision with respect to a covered transaction, such report shall include information relevant to sections 721(d)(4)(A) and (B), and shall present the Committee's recommendation. If the Committee is unable to reach a decision to present a single recommendation to the President, the Chairperson of the Committee shall submit a report of the Committee to the President setting forth the differing views and presenting the issues for decision.

    (d) Upon completion or termination of an investigation, if the Committee determines to conclude all deliberative action under section 721 with regard to a notified covered transaction without sending a report to the President

    Determination not to undertake an investigation.

    If the Committee determines, during the review period described in § 800.503, not to undertake an investigation of a notified covered transaction, action under section 721 shall be concluded. An official at the Department of the Treasury shall promptly

    advise

    inform the parties to

    such

    a covered transaction in writing of a determination

    to conclude action. (e) In extraordinary circumstances, the Chairperson may, upon a written request signed by the head

    of

    a lead agency, extend an investigation for one 15-day period. A request to extend an investigation must describe, with particularity, the extraordinary circumstances that warrant the Chairperson extending the investigation. The authority of the head of a lead agency to request the extension of an investigation may not be delegated to any person other than the deputy head (or equivalent thereof) of the lead agency. If the Chairperson extends an investigation pursuant to this paragraph (e) with respect to a covered transaction, the Committee shall promptly notify the parties to the transaction of the extension.

    (f) For purposes of paragraph (e) of this section, “extraordinary circumstances” means circumstances for which extending an investigation is necessary and the appropriate course of action due to a force majeure event or to protect the national security of the United States.”

    [73 FR 70716, Nov. 21, 2008, as amended at 83 FR 51321, Oct. 11, 2018]

    the Committee not to undertake an investigation and to conclude action under section 721.