(a) An appeal of a denial of an application for exemption to a judicial hearing officer, pursuant to article 1-A of the Legislative Law section 1-h and Part 938 of this Title is available only to a client filer who submitted an application under section 938.4(a) of this Title. A client filer who submitted an application under section 938.4(b) of this Title is not entitled to such an appeal.

(b) A client filer may appeal a denial of an application for exemption. A notice of appeal must be in writing and include the original application for exemption together with any supporting materials that were submitted pursuant to section 938.5 of this Title. The written notice of appeal must be received by the commission no later than 15 business days after the date of the denial. Any notice of appeal received by the commission later than 15 business days after the date of the denial will not be considered and the client filer will be deemed to have waived the right to appeal.

(c) If the client filer appeals and such appeal is denied, the client filer shall, within five business days of the date of the denial of the appeal, amend the client semi-annual report to include the required information relating to the subject of the application for exemption.