(a) A person that begins an environmental or health and safety audit before becoming the owner of the regulated facility or operation that is the subject of the audit may continue the audit after the acquisition closing date if, not later than the 45th day after the acquisition closing date, the person provides notice to an appropriate regulatory agency of the fact that the person intends to continue an ongoing audit.
(b) The notice must specify:
(1) the facility or portion of the facility being audited;
(2) the date the audit began; and
(3) the general scope of the audit.
(c) The person must certify in the notice that before the acquisition closing date:
(1) the person was not responsible for the scope of the environmental, health, or safety compliance being audited at the regulated facility or operation;
(2) the person did not have the largest ownership share of the seller;
(3) the seller did not have the largest ownership share of the person; and
(4) the person and the seller did not have a common corporate parent or a common majority interest owner.