OAR 409-070-0042: Optional Application for Determination of Covered Transaction Status

(1) Any party to a proposed transaction may, but must not be required to, submit a written application to the Authority requesting a determination whether such transaction is a covered transaction pursuant to these rules. The Authority must notify the applicant in writing of its determination within 30 calendar days following receipt of the application and any additional information requested by the Authority. If the Authority determines that the proposed transaction is a covered transaction, and the parties desire to pursue the transaction, the parties must file a notice in accordance with these rules. (2) An application for determination pursuant to paragraph (1) of this rule must contain: (a) A detailed explanation of the transaction, including the parties to such transaction and all relevant terms, conditions and agreements that comprise the transaction; (b) A detailed explanation of the reasons the parties to the proposed transaction believe such transaction is not a covered transaction pursuant to these rules; and (c) Such additional information, documents and analyses as the Authority may require in order to evaluate the application and the asserted grounds on which it should not be considered a covered transaction pursuant to these rules. (3) The submission of an application pursuant to this rule does not toll any timelines or notice requirements under these rules. (4) No fee shall be required in connection with an optional application filed under this rule. However, if the Authority determines that the transaction is a covered transaction, and if a notice of material change transaction is thereafter filed, a fee in accordance with OAR 409-070-0030 must be payable. (5) Confidential material provided by any party in connection with an optional determination must be maintained as confidential in accordance with OAR 409-070-0070. (6) The Authority will publish the letter of determination at the earlier of either (a), (b), or (c) of this section: (a) No less than six months after the date of the letter of determination in the event that the transaction proceeds, is publicly available, but is not subject to review by the Authority; (b) Within one business day after receipt of a complete notice of material change transaction; (c) Within one business day after the letter of determination is sent to the requesting entity if the transaction is otherwise publicly known; or (d) within one business day after the letter of determination is sent to the requesting entity if the entity consents to such letter being published.