; (D) the transaction described in paragraph (1) involves the export of critical technologies (as defined under section 721(a)(6) of the Defense Production Act of 1950) to the foreign entity; or (E) the leadership of the foreign entity engages in a significant act or acts of corruption or money laundering, or has committed a violation of the Foreign Corrupt Practices Act of 1977, the Arms Export Control Act, the International Emergency Economic Powers Act, or the Export Administration Act of 1979. (4) Timing and form of report The report described in paragraph (3) shall be submitted not later than 45 days after approval by the Board of Directors, except that the United States Trade Representative may extend the required time in which to submit the report by one 15-day period on notifying the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate that the extension is necessary. The report described in paragraph (3) shall be submitted in unclassified form but may contain a classified annex. (5) Procedures for chinese government-controlled entities The requirements of paragraph (1) shall apply to any foreign entity, notwithstanding the level of ownership by the government of the People’s Republic of China, if the Agency has reason to believe that the foreign entity is controlled by the government of the People’s Republic of China. (6) Exemption Paragraphs (1) and (2) shall not apply to the following if— (A) financing would enable exports directly by United States small business concerns