[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: 29CFR2570.49]

[Page 564]
 
                             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. 2570.49  Limits on the effect of exemptions.

    (a) An exemption does not take effect or protect parties in interest 
from liability with respect to the exemption transaction unless the 
material facts and representations contained in the application and in 
any materials and documents submitted in support of the application were 
true and complete.
    (b) An exemption is effective only for the period of time specified 
and only under the conditions set forth in the exemption.
    (c) Only the specific parties to whom an exemption grants relief may 
rely on the exemption. If the notice granting an exemption does not 
limit exemptive relief to specific parties, all parties to the exemption 
transaction may rely on the exemption.