The Appeals Board may, in its discretion, refer any appeal to the Director of the PBGC for decision. In such a case, the Director shall have all the powers vested in the Appeals Board by this subpart and the decision of the Director shall meet the requirements of and have the effect of a decision issued under Sec. 4003.59 of this part. [61 FR 34012, July 1, 1996, as amended at 73 FR 38120, July 3, 2008]