Saturday, Sunday or legal holiday in the District of Columbia, in which case the period runs until the close of business of the next day which is not a Saturday, Sunday or holiday.

(4) Extensions of time. When the time for filing any information or requests is fixed by the act or these regulations, or by the Board or a Regional Board, or by assigned personnel act

ing on behalf of the Board or a Regional Board, no extension of time to make such filing will be granted except upon the written request of the contractor for good cause. Notwithstanding the preceding sentence, the time for filing a request for review of a determination in a Class B case, as provided in § 1475.3 (b) of this subchapter, is not subject to extension,

Regional

1473.2 Determination by Board. (a) Class A cases.-When a Regional Board determines in a Class A case that the contractor has not realized excessive profits for the fiscal year under review, the Regional Board will notify the Board of the Regional Board's determination and submit a report of the case to the Board. The Regional Board will notify the contractor of the action taken by the Regional Board. Upon receipt of notification from a Regional Board of the determination of such Regional Board that the contractor has not realized excessive profits, the Board will consider the case and notify the Regional Board either that it is in accord with the determination or that it has not satisfied itself that the determination is correct. In the former event, the Regional Board will embody its determination in a clearance. In the latter event, the Board will direct the Regional Board to advise the contractor that a different determination

may be made. In such case, the Board, in its discretion, will either direct the Regional Board to conduct further proceedings in the matter or reassign the case to the Board. In the latter event, the applicable procedure will be that set forth in section 1472.4 of this subchapter.

(b) Class B cases.-When a regional Board determines in a Class B case that the contractor has not realized excessive profits for the fiscal year under review, the Regional Board will embody its determination in a clearance.

1473.3 Determination by Board.-When a case is transfered to the Board pursuant to section 1472.4 of this subchapter and the Board determines that the contractor did not realize excessive profits for the fiscal year under review, the Board will embody its determination in a clearance, except that if the contractor has previously executed a clearance agreement and the Board approves such agreement, the Board will authorize the Regional Board to execute such agreement on behalf of the Government.

1473.4 Form of clearance.-The Regional Board or the Board, as the case may be, will issue a clearance notice to the contractor when it has been determined that the contractor has not realized excessive profits, unless the determination is conditioned upon the happening of subsequent events. In the latter case, such determination will be embodied in a clearance agreement. See §§ 1498.2 (b), 1498.2 (g) (4) and 1498.6 of this subchapter.

Sec.

1474.1

Statutory provision.

1474.2 When agreement procedure used.

1474.3 Determination by Regional Board.

1474.4 Determination by Board.

1474.5 Finality of agreement.

1474.6 Modification of terms of payment provided in agreement.

1474.7 Nullification of agreement.

AUTHORITY: Sections 1474.1 to 1474.7 issued under section 109, Pub. Law 9, 82d Cong. Interpret or apply section 105, Pub. Law 9, 82d Cong.

1474.1 Statutory provision.-Section 105 (d) of the act provides as follows:

Agreements to eliminate excessive profits.-For the purpose of this title the Board may make final or other agreements with a contractor or subcontractor for the elimination of excessive profits and for the discharge of any liability for excessive profits under this title. Such agreements may contain such terms and conditions as the Board deems advisable. Any such agreement shall be conclusive according to its terms; and, except upon a showing of fraud or malfeasance or a willful misrepresentation of a material fact, (1) such agreement shall not for the purposes of this title be reopened as to the matters agreed upon, and shall not be modified by any officer, employee, or agent of the United States, and (2) such agreement and any determination made in accordance therewith shall not be annulled, modified, set aside, or disregarded in any suit, action, or proceeding. Notwithstanding any other provision of this title, however, the Board shall have the power, pursuant to regulations promulgated by it, to modify any agreement or order for the purpose of extending the time for payment of sums due under such agreement or order and shall also have the power to set aside and declare null and void any such agreement if, upon a request made to the Board within three years from the date of such agreement, the Board finds as a fact that the aggregate of the amounts received or accrued by the other party to such agreement during the fiscal year covered by such agreement was not more than the minimum amounts subject to renegotiation specified in section 105 (f) for such fiscal year.

[Matter in italics added by Pub. Law 764, 83d Cong., approved September 1, 1954.]

1474.2 When agreement procedure used.The procedure set forth in this Part will be used when the contractor has agreed with a Regional Board or the Board concerning the

amount of excessive profits realized by the contractor during a fiscal year.

by by

Regional

1474.3 Determination Board. When a Regional Board determines that the contractor has realized excessive profits for a fiscal year and the contractor agrees to refund the amount so determined to be excessive profits, the Regional Board will prepare an agreement and submit it to the contractor for execution.

(a) Class A cases. In a Class A case, after the contractor has returned the agreement properly executed to the Regional Board, the Regional Board will submit the agreement and a report of the case to the Board. The Board will consider the case and notify the Regional Board either that it is in accord with the determination or that it has not satisfied itself that the determination is correct. In the former event, the Board will authorize the Regional Board to execute the agreement on behalf of the Government. In the latter event, the Board will direct the Regional Board to advise the contractor that the Board is not in accord with the Regional Board's determination and that a different determination may be made. In such case, the Board, in its discretion, will either direct the Regional Board to conduct further proceedings in the matter or reassign the case to the Board. In the latter event, the applicable procedure will be that set forth in section 1472.4 of this subchapter.

(b) Class B cases.-In a Class B case, after the contractor has returned the agreement properly executed to the Regional Board, the Regional Board will execute the agreement on behalf of the Government.

1474.4 Determination by Board.-When a case is transferred to the Board pursuant to section 1472.4 of this subchapter and the Board determines that the contractor has realized excessive profits for the fiscal year under review, the Board will endeavor to make an agreement with the contractor for the refund of such ex

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