§800.1002. Effect of determinations.
31 C.F.R. § 800.1002
A determination under § 800.1001(a) shall take effect immediately upon publication of a notice of such determination under § 800.1001(c) and remain in effect unless rescinded under § 800.1001(b).
A rescission of a determination under § 800.1001(b) shall take effect on the date specified in the notice published under § 800.1001(c).
A determination under § 800.1001(a) does not apply to any transaction for which a declaration or notice has been accepted by the Staff Chairperson under § 800.405(a)(1) or § 800.503(a), respectively.
A rescission of a determination under § 800.1001(b) does not apply to any transaction for which:
The completion date is prior to the date upon which the rescission of a determination under paragraph (b) of this section becomes effective; or
The following has occurred before publication of the rescission of determination under § 800.1001(c):
The parties to the transaction have executed a binding written agreement, or other binding document, establishing the material terms of the transaction that is ultimately consummated;
A party has made a public offer to shareholders to buy shares of a U.S. business; or
A shareholder has solicited proxies in connection with an election of the board of directors of a U.S. business or has requested the conversion of convertible voting securities.
Notes, amendments, and revision history
Authority
Authority: 50 U.S.C. 4565; E.O. 11858, as amended, 73 FR 4677.
Source
Source: 85 FR 3124, Jan. 17, 2020, unless otherwise noted.