; or (II) to protect public safety; and (ii) no deferral or deferral for less than 1 year would be in the public interest; or (B) a showing has been made by the small entities that would benefit from the deferral otherwise required by paragraph (1) that the benefits to such small entities of such deferral are outweighed by the benefits to such small entities of no deferral or deferral for less than 1 year. (4) Regulations subject to information collection approval In the case of a regulation requiring a collection of information that is subject to approval under subchapter I of chapter 35 of title 44, United States Code, the deferral period under this subsection shall begin on the latest date following such approval on which such regulation becomes effective for an entity that is not a small entity. (5) Entities that cease to be small entities An entity that is eligible under this subsection for deferred application of a regulation on the date on which the deferral commences shall continue to be entitled to the full term of the deferral notwithstanding that such entity ceases to be a small entity, whether through a change in the definition of the term small entity or otherwise. (c) Small entity defined In this section, the term small entity means any entity that meets either of the following requirements: (1) The entity is a small entity (as defined in section 601 of title 5, United States Code). (2) With respect to a regulation applicable to a particular subscription service, the entity provides such subscription service to 2 percent or fewer of the consumers receiving such subscription service in the United States. . (b) Triennial regulatory review Section 257 of the Communications Act of 1934 ( 47 U.S.C. 257 ) is amended— (1) in the heading, by striking Market entry barriers proceeding and inserting Elimination of market entry barriers and unnecessary regulation of small entities