Sec. 21.40  Modification of station license.

    (a) Except as provided in Secs. 21.41 and 21.42, no modification of 
a license issued pursuant to this part (or the facilities described 
thereunder) shall be made except upon application to the Commission and 
upon finding by the Commission that:
    (1) Such modification will promote the public interest, convenience 
and necessity, or
    (2) That the provisions of the Communications Act of 1934 or of any 
treaty ratified by the United States will be more fully complied with if 
such application is granted.
    (b) No application for modification to extend a license construction 
period will be granted for delays caused by lack of financing or for 
lack of site availability. Applications for time extensions for other 
reasons must include a verified statement from the application showing 
that the licensee has

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made diligent efforts to construct the facilities and:
    (1) That additional time is required due to circumstances beyond the 
applicant's control, in which case the applicant must describe such 
circumstances and must set forth with specificity and justify the 
precise extension period requested; or
    (2) That there are unique and overriding public interest concerns 
that justify such an extension, in which case the applicant must 
identify such interests and must set forth and justify a precise 
extension period.
    (c) Notwithstanding the provisions of paragraph (b), when a station 
license has been assigned or transferred pursuant to Sec. 21.38, any 
extension of time will be limited so that the time left to construct 
after Commission grant of the transfer or assignment will be no more 
than the time remaining for construction at the date of the filing of 
the application for transfer or assignment.
[ 52 FR 37780 , Oct. 9, 1987]