“(a) In General.—The President shall, not later than 120 days after the date of the enactment of this Act [Dec. 18, 2015], promulgate regulations as necessary for the implementation of this Act and the amendments made by this Act.
“(b) Notification to Congress.—Not less than 10 days before the promulgation of regulations under subsection (a), the President shall notify the appropriate congressional committees of the proposed regulations and the provisions of this Act and the amendments made by this Act that the regulations are implementing.
“(c) Appropriate Congressional Committees Defined.—In this section, the term ‘appropriate congressional committees’ means—“(1) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives; and
“(2) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate.
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