Qualified exchange proponents: Limitations.

§ 3435.2 Qualified exchange proponents: Limitations. (a) Any person who holds a Federal coal lease, or a preference right lease application that has been found to meet the commercial quantities requirements of §§ 3430.1 and 3430.5 of this title on lands described in § 3435.1 of this title is qualified to ask the Secretary to initiate an exchange. (b) Except for leases qualified under subpart 3436 of this title, the Secretary may issue a new coal lease in exchange for the relinquishment of outstanding leases or lease applications only in those cases where the Congress has specifically authorized such exchanges. (c) The Secretary shall evaluate each qualified exchange request and determine whether an exchange is in the public interest. (d) Any modification of a coal lease in an exchange under this subpart shall be subject to the limitations in §§ 3432.1(a), 3432.2(b) and 3432.3(a) of this title. [44 FR 42628, July 19, 1979, as amended at 47 FR 33144, July 30, 1982]