31 C.F.R. Subpart E—Committee Procedures: Review and Investigation
Title 31 - Money and Finance: Treasury
(a) The Committee's review or investigation (if it has been determined that an investigation shall be conducted) shall examine, as appropriate, whether: (1) The acquisition is by or with a foreign person and could result in control by a foreign person of a U.S. person or persons engaged in interstate commerce in the United States; (2) There is credible evidence to support a belief that the foreign interest exercising control of the U.S. person to be acquired might take action that threatens to impair the national security; and (3) Provisions of law, other than section 721 and the International Emergency Economic Powers Act (50 U.S.C. 1701–1706), provide adequate and appropriate authority to protect the national security. (b) During the thirty-day review period or during an investigation, the Staff Chairman may invite the parties to a notified transaction to attend a meeting with the Committee staff to discuss and clarify issues pertaining to the transaction. During an investigation, a party to the investigated transaction may request a meeting with the Committee staff; such a request ordinarily will be granted. (a) If the Committee determines, during the review period described in §800.404, not to undertake an investigation, such determination shall conclude action under section 721. (b) The Staff Chairman of the Committee shall promptly advise the parties to an acquisition of a determination not to investigate. (a) If it is determined that an investigation should be undertaken, such investigation shall commence no later than the end of the thirty-day period described in §800.404. (b) The Staff Chairman of the Committee shall promptly send written advice to the parties to an acquisition of the commencement of an investigation. (a) The Committee shall complete its investigation no later than the forty-fifth day after the date the investigation commences, or, if the forty-fifth day is not a business day, no later than the next business day after the forty-fifth day. (b) Upon completion or termination of any investigation, the Committee shall report to the President and present a recommendation. Any such report shall include information relevant to subparagraphs (e) (1) and (2) of section 721. If the Committee is unable to reach a unanimous recommendation, the Chairman shall submit a report of the Committee to the President setting forth the differing views and presenting the issues for decision. [56 FR 58780, Nov. 21, 1991, as amended at 59 FR 27179, May 25, 1994] (a) A party to an acquisition that has submitted notice under §800.401(a), or, if more than one such party has submitted notice, the parties to an acquisition, may, at any time prior to an announcement by the President of his decision as described in §800.601, request in writing that such notice(s) be withdrawn. Such request shall be directed to the Staff Chairman and shall state the reasons why the request is being made. Such requests will ordinarily be granted, except as determined by the Committee. A written notification of the decision on the request to withdraw notice shall be sent promptly to the requester(s). (b) Any withdrawal in writing of an agency notice by the agency that submitted it shall be effective on its receipt by the Staff Chairman, who shall promptly send notice of the withdrawal to the parties to an acquisition. (c) In any case where a request to withdraw notice is granted under paragraph (a), or where the withdrawal is effective under paragraph (b) of this section, or where notice has been rejected under §800.403, such notice shall be considered not to have been made for purposes of §800.401. Section 800.702 shall nevertheless apply with respect to information or documentary material filed with the Committee. With respect to any subsequent acquisition among the parties that is within this part, notice made in accordance with §800.401 shall be deemed a new notice for purposes of these regulations, including §800.601.
Title 31: Money and Finance: Treasury
PART 800—REGULATIONS PERTAINING TO MERGERS, ACQUISITIONS, AND TAKEOVERS BY FOREIGN PERSONS
Subpart E—Committee Procedures: Review and Investigation
§ 800.501 General.
§ 800.502 Determination not to investigate.
§ 800.503 Commencement of investigation.
§ 800.504 Completion or termination of investigation and report to the President.
§ 800.505 Withdrawal of notice.
