; (ii) in subclause (I), by striking intentionally ; (iii) in subclause (II), by striking an intentional and inserting a ; and (iv) in subclause (III), by inserting adequate and appropriate before remedies or enforcement tools ; and (3) by inserting after subparagraph (D) the following: (E) Covered transactions described A covered transaction is described in this subparagraph if— (i) the Committee has informed the parties to the transaction in writing that the Committee has completed all action under this section with respect to the transaction; or (ii) the President has announced a decision not to exercise the President’s authority under subsection (d) with respect to the transaction. . 1709. Timing for reviews and investigations Section 721(b) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(b) ), as amended by section 1708, is further amended— (1) in paragraph (1)(F), by striking 30 and inserting 45 ; (2) in paragraph (2), by striking subparagraph (C) and inserting the following: (C) Timing (i) In general Except as provided in clause (ii), any investigation under subparagraph (A) shall be completed before the end of the 45-day period beginning on the date on which the investigation commenced. (ii) Extension for extraordinary circumstances (I) In general In extraordinary circumstances (as defined by the Committee in regulations), the chairperson may, at the request of the head of the lead agency, extend an investigation under subparagraph (A) for one 30-day period. (II) Nondelegation The authority of the chairperson and the head of the lead agency referred to in subclause (I) may not be delegated to any person other than the Deputy Secretary of the Treasury or the deputy head (or equivalent thereof) of the lead agency, as the case may be. (III) Notification to parties If the Committee extends the deadline under subclause (I) with respect to a covered transaction, the Committee shall notify the parties to the transaction of the extension.