Why is it important if a particular
transaction is a covered transaction?
The importance of a covered transaction depends
upon who you are.
(a) As a participant in the transaction, you
have the responsibilities laid out in Subpart C of
this part. Those include responsibilities to the
person or Federal agency at the
next higher tier from whom you received the
transaction, if any. They also include
responsibilities if you subsequently enter into
other covered transactions with persons at the
next lower tier.
(b) As a Federal official who enters into a
primary tier transaction, you have the
responsibilities laid out in subpart D of this
(c) As an excluded person, you may not be a
participant or principal in the transaction
(1) The person who entered into the transaction
with you allows you to continue your involvement
in a transaction that predates your exclusion, as
permitted under § 19.310 or § 19.415; or
(2) A(n) Department of the Treasury official
obtains an exception from the Secretary of the
Treasury to allow you to be involved in the
transaction, as permitted under § 19.120.
Title 31 published on 2012-07-01
no entries appear in the Federal Register after this date.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.