Export Trade Certificate of Review

DEPARTMENT OF COMMERCE

Export Trade Certificate of Review

AGENCY: International Trade Administration, Commerce.

ACTION: Notice of initiation of process of revoke export trade

certificate of review No. 92-00008.

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SUMMARY: The Secretary of Commerce issued an export trade certificate

of review to International EXIM Corporation. Because this certificate

holder has failed to file an annual report as required by law, the

Department is initiating proceedings to revoke the certificate. This

notice summarizes the notification letter sent to International EXIM

Corporation.

FOR FURTHER INFORMATION CONTACT: W. Dawn Busby, Director, Office of

Export Trading Company Affairs, International Trade Administration,

202/482-5l3l. This is not a toll-free number.

SUPPLEMENTARY INFORMATION: Title III of the Export Trading Company Act

of 1982 (``the Act'') [15 U.S.C. 4011-21] authorized the Secretary of

Commerce to issue export trade certificates of review. The regulations

implementing Title III [''the Regulations''] are found at 15 CFR part

325. Pursuant to this authority, a certificate of review was issued on

September 8, 1992 to International EXIM Corporation.

A certificate holder is required by law (Section 308 of the Act, 15

U.S.C. 4018) to submit to the Department of Commerce annual reports

that update financial and other information relating to business

activities covered by its certificate. The annual report is due within

45 days after the anniversary date of the issuance of the certificate

of review [Sections 325.14(a) and (b) of the Regulations]. Failure to

submit a complete annual report may be the basis for revocation

[Sections 325.10(a) and 325.14(c) of the Regulations].

The Department of Commerce sent to International EXIM Corporation

on August 29, 1994, a letter containing annual report questions with a

reminder that its annual report was due on October 23, 1994. Additional

reminders were sent on October 24, 1994, and on November 16, 1994. The

Department has received no written response to any of these letters.

On December 7, 1994, and in accordance with Sec. 325.10(c)[2] of

the Regulations, a letter was sent by certified mail to notify

International EXIM Corporation that the Department was formally

initiating the process to revoke its certificate. The letter stated

that this action is being taken for the certificate holder's failure to

file an annual report.

In accordance with Sec. 325.10(c)(2) of the Regulations, each

certificate holder has thirty days from the day after its receipt of

the notification letter in which to respond. The certificate holder is

deemed to have received this letter as of the date on which this notice

is published in the Federal Register. For good cause shown, the

Department of Commerce can, at its discretion, grant a thirty-day

extension for a response.

If the certificate holder decides to respond, it must specifically

address the Department's statement in the notification letter that it

has failed to file an annual report. It should state in detail why the

facts, conduct, or circumstances described in the notification letter

are not true, or if they are, why they do not warrant revoking the

certificate. If the certificate holder does not respond within the

specified period, it will be considered an admission of the statements

contained in the notification letter (Section 325.10(c)[2] of the

Regulations).

If the answer demonstrates that material facts are in dispute, the

Department of Commerce and the Department of Justice shall, upon

request, meet informally with the certificate holder. Either Department

may require the certificate holder to provide the documents or

information that are necessary to support its contentions (Section

325.10(c)[3] of the Regulations).

The Department shall publish a notice in the Federal Register of

the revocation or modification or a decision not to revoke or modify

(Section 325.10(c)[4] of the Regulations). If there is a determination

to revoke a certificate, any person aggrieved by such final decision

may appeal to an appropriate U.S. district court within 30 days from

the date on which the Department's final determination is published in

the Federal Register (Sections 325.10(c)(4) and 325.11 of the

Regulations).

Dated: December 7, 1994.

W. Dawn Busby,

Director, Office of Export Trading Company Affairs.

[FR Doc. 94-30535 Filed 12-12-94; 8:45 am]

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