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The licensee must petition the Commission for reinstatement of a license that has been revoked or suspended. What is the Real Estate Recovery Fund?If Administration, c.t.a. All petitions will be forwarded to the appropriate division or office of the Commission for consideration and recommendation. The purpose of this brochure is to inform persons seeking to file a petition before the Commission of some of the basic concepts they should know. From that moment, the petition will be under study or initial review, according to article 26 of the Commission's Rules of Procedure. Rule. 2. The Commission or its designee will review a petition for waiver and notify the applicant of its grant or denial. 090 Petition for order requiring sale. The Commission or its designee will review a petition for waiver and notify the applicant of its grant or denial.