[Code of Federal Regulations]

[Title 45, Volume 3]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 45CFR680.20]



[Page 249]

 

                        TITLE 45--PUBLIC WELFARE

 

                 CHAPTER VI--NATIONAL SCIENCE FOUNDATION

 

PART 680_NATIONAL SCIENCE FOUNDATION RULES OF PRACTICE AND STATUTORY 

CONFLICT-OF-INTEREST EXEMPTIONS--Table of Contents

 

                     Subpart B_Statutory Exemptions

 

Sec. 680.20  Exemptions under 18 U.S.C. 208(b).





    (a) The Foundation exempts the interests described in the remainder 

of this section from the operation of section 208(a) and from case-by-

case formal determinations under section 208(b)(1) of title 18, United 

States Code.

    (b) Minor interests. The following financial interests are too 

inconsequential to affect the integrity of an employee's services to the 

Government:

    (1) Noncorporate bonds;

    (2) Shares in a well-diversified money market or mutual fund;

    (3) Stocks, bonds, or other securities of a corporation listed on 

the New York or American Stock Exchange if the aggregate market value of 

all the securities you hold in that corporation does not exceed $1,000;

    (4) Vested pension rights to which no further contributions are 

being made by your former employer.

    (c) Indirect interests. An NSF employee may be a stockholder, 

partner, employee, officer, or director of an institution, such as a 

mutual fund, that owns a financial interest in a second institution. If 

the owning institution's financial interest consists of securities or 

other evidences of debt of the second institution that amount to:

    (1) Less than 5 percent of the total portfolio of investments of the 

owning institution,

    (2) Less than 5 percent of the total outstanding amounts of the same 

classes of securities of the second institution, and

    (3) Less than would be needed to obtain effective control of the 

second institution,



then the interest is too remote and inconsequential to affect the 

integrity of the employee's services to the Government.

    (d) Policy determinations. Where a general policy determination of 

the Government might constitute a ``particular matter'' under 18 U.S.C. 

208(a) and might affect the home institution of an NSF officer or 

employee, but only in the same manner as all similar institutions, the 

officer or employee may participate in that determination.

    (e) Support services for National Science Board tasks and 

responsibilities. A member of the National Science Board may need 

professional, clerical, and administrative services to support the 

member's personal efforts to carry out Board tasks and responsibilities. 

With the approval of the Director and the Chairman of the National 

Science Board and in accordance with other laws and regulations, the NSF 

may contract with the home insitution of the member to provide such 

services. The institution may receive reimbursement of all allowable 

costs, but no profit or fee. In such circumstances any financial 

interests the institution might have are normally too inconsequential to 

affect the integrity of the services provided by the Board member to the 

Government.



[47 FR 32131, July 26, 1982. Redesignated at 61 FR 59839, Nov. 25, 1996]