§ 919.205 Why is it important if a particular transaction is a covered transaction?

5 CFR 919.205The importance of a covered transaction depends upon who you are.

5 CFR 919.205(a)(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.

5 CFR 919.205(b)(b) As a Federal official who enters into a primary tier transaction, you have the responsibilities laid out in subpart D of this part.

5 CFR 919.205(c)(c) As an excluded person, you may not be a participant or principal in the transaction unless—

5 CFR 919.205(c)(1)(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 § 919.310 or § 919.415; or

5 CFR 919.205(c)(2)(2) A(n) OPM official obtains an exception from the Debarring Official to allow you to be involved in the transaction, as permitted under § 919.120.