§  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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