; and (B) apply with respect to an activity described in subsection (b) of section 5 of the Iran Sanctions Act of 1996, as amended by this section, that is commenced on or after such date of enactment. (2) Applicability to ongoing activities relating to certain activities A person that, before the date of the enactment of this Act, commenced an activity described in section 5(b) of the Iran Sanctions Act of 1996, as in effect on the day before such date of enactment, and continues the activity on or after such date of enactment, shall be subject to the provisions of the Iran Sanctions Act of 1996, as amended by this title. 102. Determinations with respect to the imposition of sanctions for the sale or transfer of destabilizing types and amounts of conventional weapons to the Government of Iran (a) Notification of sales and transfers Not later than 90 days after the date on which the President receives credible information that destabilizing numbers and types of conventional weapons have been sold or transferred to Iran, the President shall notify the appropriate congressional committees of the sale or transfer. (b) Determinations with respect to sanctions (1) In general Not later than 120 days after the date on which the President notifies the appropriate congressional committees of a sale or transfer under subsection (a), the President shall— (A) determine whether such sale or transfer meets the requirements to impose sanctions under each provision of law specified in subsection (c); and (B) (i) if the determination is that the sale or transfer is subject to any such sanctions, the President shall— (I) make a determination whether to impose or waive such sanctions with respect to such sale or transfer; and (II) submit that determination to the appropriate congressional committees