"Investigation" is a defined term (an "extended review"). Thus, the first sentence pertains to the initial review, and the language you placed in bold pertains to the "investigation," which must commence "no later than 30 days after receipt of a notice."
In the present case, the initial 30-day review began on Dec. 16, 2005, when DP World filed its formal notice with Treasury, and ended on Jan. 17, 2006, when CFIUS reported its non-objection to the deal.
The administration position is that the 45-day "investigation" (or extended review) period was not triggered because there were no national security implications.
Factually incorrect. Witnesses to the US Senate hearings have all ready documented that they spent 90 days reviewing the deal. The 45 day lie is just a fraudlent talking point being thrown out there by the Democrat Senate Election Comittee. It is a lie.