1720.238—Notices of proceedings to terminate exemptions pursuant to §§ 1710.14, 1710.15 and 1710.16 of this chapter.

A proceeding to terminate a self-determining exemption under § 1710.14 or an exemption order under § 1710.15 or § 1710.16 is commenced by issuance and service of a notice which shall contain:
(a) In the case of an exemption under § 1710.14, an identification of the developer and subdivision to which this notice applies. In the case of an exemption under either § 1710.15 or § 1710.16, an identification of the exemption order to which the notice applies.
(b) A clear and concise statement of material facts, sufficient to inform the respondent with reasonable definiteness of the basis for the Secretary's determination that further exemption from the registration and disclosure requirements is not in the public interest or that the sales or leases do not meet the requirements for exemption, or both.
(c) A notice of hearing rights of the respondent under § 1720.239 and of the procedures for invoking those rights.
(d) A notice that failure to file an answer or motion as provided under § 1720.240 will result, in the case of a notice issued under § 1710.14, an order terminating eligibility for the exemption, or, in the case of a notice issued under either § 1710.15 or § 1710.16, an order terminating the exemption order.
[45 FR 40499, June 13, 1980, as amended at 54 FR 40868, Oct. 4, 1989]