Sandbox program demonstration period end; participant requirements; extension permitted, when

(a) At least 30 days before the end of the 24-month general regulatory sandbox program demonstration period, a sandbox participant shall: (1) Notify the regulatory relief office that the sandbox participant will leave the general regulatory sandbox program and discontinue the sandbox participant's demonstration after the day on which the 24-month demonstration period ends; or (2) seek an extension pursuant to subsection (d). (b) If the regulatory relief office does not receive notification pursuant to subsection (a), the general regulatory sandbox program demonstration period shall end at the end of the 24-month testing period. (c) If a demonstration includes an offering that requires ongoing duties, the sandbox participant may continue to do so but shall be subject to enforcement of the rules and regulations that were waived or suspended as part of the general regulatory sandbox program. (d) Not later than 30 days before the end of the 24-month general regulatory sandbox program demonstration period, a sandbox participant may request an extension of the general regulatory sandbox program demonstration period. (1) The regulatory relief office shall grant or deny a request for an extension in accordance with subsection (a) by the end of the 24-month general regulatory sandbox program testing period. (2) The regulatory relief office may grant an extension in accordance with this section for not more than 12 months after the end of the general regulatory sandbox program demonstration period.