[Code of Federal Regulations]
[Title 14, Volume 5]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 14CFR1265.415]

[Page 399]
 
                     TITLE 14--AERONAUTICS AND SPACE
 
                   CHAPTER V--NATIONAL AERONAUTICS AND
                          SPACE ADMINISTRATION
 
PART 1265_GOVERNMENTWIDE DEBARMENT AND SUSPENSION (NONPROCUREMENT)--Table of 
 
   Subpart D_Responsibilities of NASA Officials Regarding Transactions
 
Sec.  1265.415  What must I do if a Federal agency excludes the participant or 

a principal after I enter into a covered transaction?

    (a) You as an agency official may continue covered transactions with 
an excluded person, or under which an excluded person is a principal, if 
the transactions were in existence when the person was excluded. You are 
not required to continue the transactions, however, and you may consider 
termination. You should make a decision about whether to terminate and 
the type of termination action, if any, only after a thorough review to 
ensure that the action is proper.
    (b) You may not renew or extend covered transactions (other than no-
cost time extensions) with any excluded person, or under which an 
excluded person is a principal, unless you obtain an exception under 
Sec.  1265.120.