The Board, by extraordinary regulation and without regard to the requirements of subsections 1, 2 and 3 of NRS 453.146 may schedule a substance in schedule I, whether or not the substance is substantially similar to a controlled substance included in schedule I or II, if the Board finds that scheduling of the substance by extraordinary regulation is necessary to avoid an imminent hazard to the public safety and the substance is not in any other schedule and no exemption or approval is in effect for the substance under Section 505 of the federal Food, Drug, and Cosmetic Act (21 U.S.C. § 355). Upon receipt of notice under NRS 453.219 the Board shall initiate scheduling of the controlled substance analog by extraordinary regulation pursuant to this section. The scheduling of a substance under this section expires 1 year after the adoption of the extraordinary regulation. With respect to the finding of an imminent hazard to the public safety, the Board shall consider whether the substance has been scheduled on a temporary basis under federal law and the factors set forth in paragraphs (d), (e) and (f) of subsection 2 of NRS 453.146, and may also consider clandestine importation, manufacture or distribution, and if available, information concerning the other factors set forth in subsection 2 of NRS 453.146. An extraordinary regulation may not be adopted under this section until the Board initiates a proceeding to adopt a regulation pursuant to subsections 1 to 4, inclusive, of NRS 453.146 with respect to the substance. An extraordinary regulation adopted under this section lapses upon the conclusion of the proceeding initiated under subsections 1 to 4, inclusive, of NRS 453.146 with respect to the substance.