§ 3.21   Order of consideration.

   (a) Accounting Authority applications will be processed on a first-come,
   first-served basis. When applications are received on the same day, the
   application with the earliest mailing date, as evidenced by the postmark,
   will be processed first. Interim accounting authorities seeking permanent
   certifications through the “grandfathering” process will not compete with
   other applicants during the first 60 days following the effective date of
   these rules which is allowed for submission of their applications. After the
   “grandfathering”  process  is  completed, all other applicants will be
   processed as in paragraph (a) of this section.

   (b) At any given time, there will be no more than 25 certified accounting
   authorities with a minimum of 15 “US” AAICs reserved for use by accounting
   authorities conducting settlement operations within the United States. The
   Commission will retain all valid applications received after the maximum
   number of accounting authorities have been approved and will inform such
   applicants that should an AAIC become available for reassignment in the
   future, the Commission will conditionally certify as an accounting authority
   the oldest of the qualified pending applicants, as determined by the order
   of receipt. Final certification would be conditional upon filing of an
   amended application (if necessary). The Commission will inform the applicant
   of his/her conditional selection in writing to confirm the applicant's
   continued interest in becoming an accounting authority.

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