Common use of CNA REGULATORY REQUIREMENTS Clause in Contracts

CNA REGULATORY REQUIREMENTS. The Commission will continue to exempt the designated CNA from 41 C.F.R. § 51-3.2 regulatory requirements (as listed in Phase I Section B(1) of this agreement). The rationale for this approach is the CNA is just exiting Phase I, Research and Studies, and will begin focusing on preparing itself to perform the responsibilities of a fully functional and regulatory compliant CNA without immediately being subject to regulatory scrutiny. It would also use this time to begin implementing recommendations and findings from Phase I, approved by the Commission, which will support CNA responsibilities. In order for the designated CNA to begin collecting a Program Fee from qualified NPAs, at any time within Phase II, it must be considered compliant with the regulatory requirements at 41 C.F.R. § 51-3.2 that are no longer exempted by the Commission (see Phase I Section B(1) of this agreement). This determination will be made by the Commission through either a Mandatory Milestone Review or a CNA requested Optional Milestone Review as described herein at Phase II, Section A.1 and A.2.

CNA REGULATORY REQUIREMENTS. The Commission will continue to exempt the designated CNA from 41 C.F.R. § 51-3.2 regulatory requirements (as listed in Phase I Section B(1) B.1 of this agreement). The rationale for this approach is the CNA is just exiting Phase I, Research and Studies, and will begin focusing on preparing itself to perform the responsibilities of a fully functional and regulatory compliant CNA without immediately being subject to regulatory scrutiny. It would also use this time to begin implementing recommendations and findings from Phase I, approved by the Commission, which will support CNA responsibilities. In order for the designated CNA to begin collecting a Program Fee from qualified NPAs, at any time within Phase II, it must be considered compliant with the regulatory requirements at 41 C.F.R. § 51-3.2 that are no longer exempted by the Commission (see Phase I Section B(1) B.1. of this agreement). This determination will be made by the Commission through either a Mandatory Milestone Review or a CNA CNA-requested Optional Milestone Review as described herein at Phase II, Section A.1 and A.2.