; (BB) the general partner, managing member, or equivalent is not a foreign person; and (CC) the investment fund satisfies, with respect to any foreign person with membership as a limited partner on an advisory board or a committee of the fund, the criteria specified in items (cc) and (dd) of subsection (a)(5)(D)(iv). (ee) Submission of written notice as an alternative Parties to a covered transaction for which a declaration is required under this subclause may instead elect to submit a written notice under clause (i). (ff) Timing of submission (AA) In general A declaration required to be submitted with respect to a covered transaction by this subclause shall be submitted not later than 45 days before the completion of the transaction. (BB) Written notice If, pursuant to item (ee), the parties to a covered transaction elect to submit a written notice under clause (i) instead of a declaration under this subclause, the written notice shall be filed not later than 90 days before the completion of the transaction. (gg) Penalties The Committee may impose a penalty pursuant to subsection (h)(3) with respect to a party that fails to comply with this subclause. . 1707. Stipulations regarding transactions Section 721(b)(1)(C) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(b)(1)(C) ), as amended by section 1706, is further amended by adding at the end the following: (vi) Stipulations regarding transactions (I) In general In a written notice submitted under clause (i) or a declaration submitted under clause (v) with respect to a transaction, a party to the transaction may— (aa) stipulate that the transaction is a covered transaction