§ 800.1002. Effect of determinations.
216 words·~1 min read·
/us/cfr/t31/s§ 800.1002·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)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effect immediately upon publication of a notice of such determination under § 800.1001(c) and remain in effect unless rescinded under § 800.1001(b).
(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).
(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.
(d)A rescission of a determination under § 800.1001(b) does not apply to any transaction for which:
(1)The completion date is prior to the date upon which the rescission of a determination under paragraph
(b)of this section becomes effective; or
(2)The following has occurred before publication of the rescission of determination under § 800.1001(c):
(i)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;
(ii)A party has made a public offer to shareholders to buy shares of a U.S. business; or
(iii)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.