Sec. 3.51  Cessation of operations.

    The FCC must be notified immediately should an accounting authority 
plan to relinquish its certification or cease to perform settlements as 
authorized. Additionally, the Commission must be advised in advance of 
any proposed transfer of control of an accounting authority's firm or 
organization, by any means, to another entity.
    (a) When an accounting authority is transferred, merged or sold, the 
new entity must apply for certification in its own right if it is 
interested in becoming an accounting authority. Provided the new 
applicant is eligible and completes the application process 
satisfactorily, the AAIC will be transferred to the new applicant. In 
the case of a merger of two accounting authorities, the merged entity 
must decide which AAIC to retain.
    (b) Section 3.21(a) will be waived for these applicants.
    (c) The applicant must comply with application process including 
public comment.
    (d) The applicant must certify acceptance of all accounts and must 
furnish a list of the accounts to the Commission at the time of 
application.

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