to continue
certification, it may inform the SEC that maintaining a previously-issued
certification would be inappropriate.
(3) The commission shall notify the holding company requesting
the certification or retention of certification of its decision within 45
days of receiving the request. If no action is taken by the commission within
45 days of receiving the request, the certification shall be deemed granted
or affirmed.
(4) Any information submitted by a holding company pursuant
to this section may be submitted by the holding company under seal. Each page
tendered under seal shall have the words "Confidential Information" typed
or stamped on its face. The holding company shall clearly identify each portion
of the application alleged to be Confidential Information; identify the exemption
to the Public Information Act, Texas Government Code Annotated, Chapter 552
(Vernon Supp. 1998), applicable to the alleged Confidential Information; and
provide a detailed explanation of why the alleged Confidential Information
is exempt from public disclosure under the Public Information Act. If the
commission receives a Public Information Act request for disclosure of Confidential
Information, then the Executive Director shall promptly so notify the holding
company. The Executive Director shall timely request an Attorney General's
opinion as to whether the information falls within any of the exemptions identified
in Subchapter C of the Public Information Act. The Executive Director shall
promptly provide to the holding company a copy of an Attorney General opinion
regarding the claim of confidentiality. If an Attorney General opinion recommends
disclosure of Confidential Information, either in whole or in part, then the
Executive Director shall not release such information for ten calendar days,
in order to allow the holding company time to pursue any legal remedies that
it may have. The holding company may require the execution of an appropriate
confidentiality agreement prior to providing access to such confidential information
to the Legal Division of the Office of Regulatory Affairs or other interested
party. The form of any such confidentiality agreement shall be approved by
the Legal Division prior to filing and included with the informational filing.
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