§ 1.1114   Conditionality of Commission or staff authorizations.

   (a) Any instrument of authorization granted by the Commission, or by
   its staff under delegated authority, will be conditioned upon final
   payment of the applicable fee or delinquent fees and timely payment of
   bills issued by the Commission. As applied to checks, bank drafts and
   money orders, final payment shall mean receipt by the Treasury of funds
   cleared by the financial institution on which the check, bank draft or
   money order is drawn.

   (1) If, prior to a grant of an instrument of authorization, the
   Commission is notified that final payment has not been made, the
   application or filing will be:

   (i) Dismissed and returned to the applicant;

   (ii) Shall lose its place in the processing line;

   (iii) And will not be accorded nunc pro tunc treatment if resubmitted
   after the relevant filing deadline.

   (2) If, subsequent to a grant of an instrument of authorization, the
   Commission is notified that final payment has not been made, the
   Commission will:

   (i) Automatically rescind that instrument of authorization for failure
   to meet the condition imposed by this subsection; and

   (ii) Notify the grantee of this action; and

   (iii) Not permit nunc pro tunc treatment for the resubmission of the
   application or filing if the relevant deadline has expired.

   (3) Upon receipt of a notification of rescision of the authorization,
   the grantee will immediately cease operations initiated pursuant to the
   authorization.

   (b) In those instances where the Commission has granted a request for
   deferred payment of a fee or issued a bill payable at a future date,
   further processing of the application or filing, or the grant of
   authority, shall be conditioned upon final payment of the fee, plus
   other required payments for late payments, by the date prescribed by
   the deferral decision or bill. Failure to comply with the terms of the
   deferral decision or bill shall result in the automatic dismissal of
   the submission or rescision of the Commission authorization for failure
   to meet the condition imposed by this subpart. The Commission reserves
   the right to return payments received after the date established on the
   bill and exercise the conditions attached to the application. The
   Commission shall:

   (1) Notify the grantee that the authorization has been rescinded;

   (i) Upon such notification, the grantee will immediately cease
   operations initiated pursuant to the authorization.

   (ii) [Reserved]

   (2) Not permit nunc pro tunc treatment to applicants who attempt to
   refile after the original deadline for the underlying submission.

   (c) (1) Where an applicant is found to be delinquent in the payment of
   application fees, the Commission will make a written request for the
   delinquent fee, together with any penalties that may be due under this
   subpart. Such request shall inform the applicant/filer that failure to
   pay or make satisfactory payment arrangements will result in the
   Commission's withholding action on, and/or as appropriate, dismissal
   of, any applications or requests filed by the applicant. The staff
   shall also inform the applicant of the procedures for seeking
   Commission review of the staff's fee determination.

   (2) If, after final determination that the fee is due or that the
   applicant is delinquent in the payment of fees, and payment is not made
   in a timely manner, the staff will withhold action on the application
   or filing until payment or other satisfactory arrangement is made. If
   payment or satisfactory arrangement is not made within 30 days of the
   date of the original notification, the application will be dismissed.

   [ 52 FR 5289 , Feb. 20, 1987, as amended at  55 FR 19171 , May 8, 1990.
   Redesignated at  59 FR 30998 , June 16, 1994. Redesignated at  60 FR 5326 ,
   Jan. 27, 1995, as amended at  69 FR 27847 , May 17, 2004. Redesignated
   and amended at  74 FR 3445 , Jan. 21, 2009]

   return arrow Back to Top