---
kind: "section"
citation: "31 C.F.R. § 801.407"
title: "31"
number: "801.407"
heading: "Committee actions."
url: "https://uscodex.org/cfr/31/801.407"
---

# §801.407. Committee actions.

- (a) Upon receiving a declaration submitted pursuant to [§ 801.401](/cfr/31/801.401.md) with respect to a pilot program covered transaction, the Committee may, at the discretion of the Committee:
  - (1) Request that the parties to the transaction file a written notice pursuant to subpart E;
  - (2) Inform the parties to the transaction that the Committee is not able to complete action under [section 721](/cfr/31/721.md) with respect to the transaction on the basis of the declaration and that the parties may file a written notice under [part 800](/cfr/31/part800.md) to seek written notification from the Committee that the Committee has concluded all action under [section 721](/cfr/31/721.md) with respect to the transaction;
  - (3) Initiate a unilateral review of the transaction under [§ 801.504](/cfr/31/801.504.md); or
  - (4) Notify the parties in writing that the Committee has concluded all action under [section 721](/cfr/31/721.md) with respect to the transaction.
- (b) The Committee shall take action under [paragraph (a)](#a) within the time period set forth in [§ 801.404(b)](/cfr/31/801.404.md?p=b).

## Notes

### Authority

Authority: 50 U.S.C. 4565; Pub. L. 115-232.

### Source

Source: 83 FR 51327, Oct. 11, 2018, unless otherwise noted.