; (iv) provide interested parties a reasonable opportunity to submit written comments to the Office; and (v) consider any comments received. (B) Scope of review For purposes of this subsection, any determination of the Independent Insurance Advocate regarding State insurance measures, and any preemption under paragraph (1) as a result of such determination, shall be limited to the subject matter contained within the covered agreement involved and shall achieve a level of protection for insurance or reinsurance consumers that is substantially equivalent to the level of protection achieved under State insurance or reinsurance regulation. (C) Notice of determination of inconsistency Upon making any determination under paragraph (1), the Director shall— (i) notify the appropriate State of the determination and the extent of the inconsistency; (ii) establish a reasonable period of time, which shall not be less than 30 days, before the determination shall become effective; and (iii) notify the Committees on Financial Services and Ways and Means of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Finance of the Senate. (3) Notice of effectiveness Upon the conclusion of the period referred to in paragraph (2)(C)(ii), if the basis for such determination still exists, the determination shall become effective and the Independent Insurance Advocate shall— (A) cause to be published a notice in the Federal Register that the preemption has become effective, as well as the effective date