[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR2570.42]

[Page 537]
 
                             TITLE 29--LABOR
 
CHAPTER XXV--PENSION AND WELFARE BENEFITS ADMINISTRATION, DEPARTMENT OF 
                                  LABOR
 
PART 2570--PROCEDURAL REGULATIONS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT--Table of Contents
 
 Subpart B--Procedures for Filing and Processing Prohibited Transaction 
                         Exemption Applications
 
Sec. 2570.42  Notice of proposed exemption.

    If the Department tentatively decides, based on all the information 
submitted by an applicant, that the exemption should be granted, it will 
publish a notice of proposed exemption in the Federal Register. The 
notice will:
    (a) Explain the exemption transaction and summarize the information 
received by the Department in support of the exemption;
    (b) Specify any conditions under which the exemption is proposed;
    (c) Inform interested persons of their right to submit comments in 
writing to the Department relating to the proposed exemption and 
establish a deadline for receipt of such comments;
    (d) If the proposed exemption includes relief from the prohibitions 
of section 406(b) of ERISA, section 4975(c)(1)(E) or (F) of the Code, or 
section 8477(c)(2) of FERSA, inform interested persons of their right to 
request a hearing under Sec. 2570.46 of this part and establish a 
deadline for receipt of requests for such hearings.