Title 45: Public Welfare
SUBTITLE B: Regulations Relating to Public Welfare (Continued)
CHAPTER VI: NATIONAL SCIENCE FOUNDATION
PART 680: NATIONAL SCIENCE FOUNDATION RULES OF PRACTICE AND STATUTORY CONFLICT-OF-INTEREST EXEMPTIONS
Subpart B: Statutory Exemptions
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]
This document cites
- U.S. Code - Title 18: Crimes and Criminal Procedure - 18 USC 208 - Sec. 208. Acts affecting a personal financial interest
See other documents that cite the same legislation