[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR2570.38]

[Page 559]
 
                             TITLE 29--LABOR
 
 CHAPTER XXV--EMPLOYEE BENEFITS SECURITY 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. 2570.38  Tentative denial letters.

    (a) If, after reviewing an exemption file, the Department concludes 
that it will not grant the exenption, it will notify the applicant in 
writing of its tentative denial of the exemption application. At the 
same time, the Department will provide a short statement of the reasons 
for its tentative denial.
    (b) An applicant will have 20 days from the date of a tentative 
denial letter to request a conference under Sec. 2570.40 of these 
procedures and/or to notify the Department of its intent to submit 
additional information in writing under Sec. 2570.39 of these 
procedures. If the Department does not receive a request for a 
conference or a notification of intent to submit additional information 
within that time, it will issue a final denial letter pursuant to Sec. 
2570.41.
    (c) The Department need not issue a tentative denial letter to an 
applicant before issuing a final denial letter where the Department has 
conducted a hearing on the exemption pursuant to either Sec. 2570.46 or 
Sec. 2570.47 of these procedures.