302-11.420—How long can we authorize an extension for completion of the sale and purchase or lease termination transactions?

You may authorize an additional period of time, not to exceed 2 years, for completion of the sale and purchase or lease termination transactions.

Code of Federal Regulations

Effective Date Note: By FTR Amdt. 2011-01, 76 FR 18343, Apr. 1, 2011, § 302-11.420 was amended by removing “2 years” and adding “1 year” in its place, effective Aug. 1, 2011.