CFR > Title 29 - Labor > SUBTITLE B—Regulations Relating to Labor > CHAPTER XXV—EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF LABOR (parts 2509 to 2590) > SUBCHAPTER G—ADMINISTRATION AND ENFORCEMENT UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (parts 2560 to 2578) > PART 2570—PROCEDURAL REGULATIONS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT > SUBPART B—Procedures for Filing and Processing Prohibited Transaction Exemption Applications (§2570.30 to §2570.52) > 2570.42—Notice of proposed exemption.

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 § 2570.46 of this part and establish a deadline for receipt of requests for such hearings.