[Code of Federal Regulations]

[Title 14, Volume 5]

[Revised as of January 1, 2006]

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

[CITE: 14CFR1265.205]



[Page 394]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

                          SPACE ADMINISTRATION

 

PART 1265_GOVERNMENTWIDE DEBARMENT AND SUSPENSION (NONPROCUREMENT)

--Table of Contents

 

                     Subpart B_Covered Transactions

 

Sec. 1265.205  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 

part.

    (c) As an excluded person, you may not be a participant or principal 

in the transaction unless--

    (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 Sec. 1265.310 or Sec. 1265.415; or

    (2) A(n) NASA official obtains an exception from the Assistant 

Administrator for Procurement to allow you to be involved in the 

transaction, as permitted under Sec. 1265.120.