; and (ii) the transaction through which the company acquired control of the depository institution constituted solely a corporate reorganization of a company that controlled the depository institution on the date referred to in that subparagraph. (g) Procedures and timing for termination of activities or divestiture (1) Transition provision (A) In general Any covered industrial bank holding company that fails to comply with the provisions of subsection (f) shall divest its ownership or control of each industrial bank subsidiary of the covered industrial bank holding company not later than the end of the 2-year period beginning on the first date that the covered industrial bank holding company ceased to comply with subsection (f). (B) Extension of time period (i) In general Upon application by a covered industrial bank holding company, the appropriate Federal supervisory agency of the covered industrial bank holding company may extend the 2-year period referred to in subparagraph (A) with respect to the covered industrial bank holding company for not more than 1 year if, in the judgment of the Federal supervisory agency, the extension would not be detrimental to the public interest. (ii) Factors In making any decision to grant an extension under clause (i) to a covered industrial bank holding company, the appropriate Federal supervisory agency of the covered industrial bank holding company shall consider whether— (I) the covered industrial bank holding company has made a good faith effort to divest those interests