,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #aef  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,janu>y #af1 #bjai ,ms4
 ,baldw9 introduc$ ! foll[+ bill2 :i* 0 
read twice & ref]r$ to ! ,committee on  
,homel& ,security & ,gov]nm5tal ,affairs
  ,a ,,bill  ,to prev5t conflicts (     
int]e/ t /em f executive bran* employees
 receiv+ bonuses or o!r comp5sation     
arrangem5ts f non-,gov]nm5t s\rces1 f ! 
revolv+ door t raises conc]ns ab\t !    
indep5d5ce ( executive bran* employees1 
& f ! revolv+ door t ca/s asp]sions ov] 
! aw>d+ ( ,gov]nm5t contracts & o!r     
f9ancial b5efits4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,executive ,bran*  
,conflict ( ,int]e/ ,act4  #b4          
,re/rictions on private sector paym5t = 
,gov]nm5t s]vice ,section #bji ( title  
#ah1 ,unit$ ,/ates ,code1 is am5d$--    
7#a7 9 subsection 7a7-- 7,a7 by /rik+   
any sal>y & ins]t+ any bonus or sal>y2 &
  7,b7 by /rik+ 8 s]vices & ins]t+      
s]vices r5d]$ or to be r5d]$2 &  7#b7 9 
subsection 7b7--  7,a7 by ins]t+ 7#a7   

aft] 7b72 &  7,b7 by add+ at ! end !    
foll[+3  7#b7 ,= purposes ( p>agraph    
7#a71 a p5sion1 retirem5t1 gr\p life1   
heal? or accid5t insurance1 pr(it-%>+1  
/ock bonus1 or o!r employee welf>e or   
b5efit plan t makes paym5t ( comp5sation
 cont+5t on accept+ a position 9 !      
,f$]al ,gov]nm5t %all n be consid]$ bona
 fide4  7#c7 ,= purposes ( p>agraph     
7#b71 comp5sation includes a ret5tion   
aw>d or bonus1 sev]ance pay1 & any o!r  
paym5t l9k$ to future s]vice 9 ! ,f$]al 
,gov]nm5t 9 any way4  4  #c4            
,requirem5ts relat+ to sl[+ ! revolv+   
door among c]ta9 executive bran*        
employees  7a7 ,9 g5]al ,! ,e?ics 9     
,gov]nm5t ,act ( #aigh 7#e ,u4,s4,c4    
,app47 is am5d$ by add+ at ! end !      
foll[+3  ,,vi ,special requirem5ts =    
c]ta9 executive bran* employees  #fja4  
,def9itions  7a7 ,9 g5]al ,9 ?is title1 
! t]ms designat$ ag5cy e?ics (ficial &  
executive bran* h ! mean+s giv5 ^? t]ms 
"u section #aji4  7b7 ,o!r def9itions ,9
 ?is title3 7#a7 ,cov]$ ag5cy ,! t]m    

cov]$ ag5cy--  7,a7 means-- 7i7 an      
,executive ag5cy2  7ii7 ! ,po/al        
,s]vice2 &  7iii7 ! ,po/al ,rate        
,commission2  7,b7 includes ! ,executive
 ,(fice ( ! ,presid5t2 &  7,c7 does n   
include ! ,gov]nm5t ,acc\ntability      
,(fice or ! gov]nm5t ( ! ,di/rict (     
,columbia4  7#b7 ,cov]$ employee ,! t]m 
cov]$ employee means an (fic] or        
employee describ$ 9 section #bjg7;c77#b7
 ( title #ah1 ,unit$ ,/ates ,code4  7#c7
 ,director ,! t]m ,director means !     
,director ( ! ,(fice ( ,gov]nm5t ,e?ics4
  7#d7 ,executive ag5cy ,! t]m          
,executive ag5cy has ! mean+ giv5 ! t]m 
9 section #aje ( title #e1 ,unit$ ,/ates
 ,code4  7#e7 ,=m] cli5t ,! t]m =m]     
cli5t--  7,a7 means a p]son = :om a     
cov]$ employee s]v$ p]sonally z an ag5t1
 attorney1 or consultant dur+ ! #b-ye>  
p]iod end+ on ! date 7aft] su* s]vice7  
on :i* ! cov]$ employee beg9s s]vice 9 !
 ,f$]al ,gov]nm5t2 &  7,b7 does n       
include--  7i7 a p]son = :om a cov]$    
employee s]v$ z describ$ 9 subp>agraph  

7,a7 if ! s]vice provid$ 0 limit$ to a  
spee* or simil> appe>ance2 or  7ii7 a   
cli5t ( ! =m] employ] ( ! cov]$ employee
 to :om ! cov]$ employee did n p]sonally
 provide s]vices describ$ 9 subp>agraph 
7,a74  7#f7 ,=m] employ] ,! t]m =m]     
employ]-- 7,a7 means a p]son = :om a    
cov]$ employee s]v$ z an employee1      
(fic]1 director1 tru/ee1 or g5]al p>tn] 
dur+ ! #b-ye> p]iod end+ on ! date 7aft]
 su* s]vice7 on :i* ! cov]$ employee    
beg9s s]vice 9 ! ,f$]al ,gov]nm5t2 &    
7,b7 does n include-- 7i7 an entity 9 ! 
,f$]al ,gov]nm5t1 includ+ an ,executive 
ag5cy2  7ii7 a ,/ate or local gov]nm5t2 
or  7iii7 an ,indian tribe1 z def9$ 9   
section #d ( ! ,indian                  
,self-,det]m9ation & ,education         
,assi/ance ,act 7#be ,u4,s4,c4 #ecjd74  
7#g7 ,/ate ,! t]m ,/ate has ! mean+ giv5
 ! t]m 9 section #c ( ! ,lobby+         
,disclosure ,act ( #aiie 7#b ,u4,s4,c4  
#afjb74  #fjb4 ,conflict ( int]e/ &     
eligibility /&>ds = cov]$ employees  7a7
 ,9 g5]al ,a cov]$ employee %all n make1

 p>ticipate 9 mak+1 or 9 any way attempt
 to use ! (ficial position ( ! cov]$    
employee to influ5ce a p>ticul> matt] t 
provides a direct & sub/antial pecuni>y 
b5efit = a =m] employ] or =m] cli5t ( ! 
cov]$ employee4  7b7 ,recusal ,a cov]$  
employee %all recuse himself or h]self f
 any (ficial action t w\ld violate      
subsection 7a74  7c7 ,waiv]  7#a7 ,9    
g5]al ,! head ( ! cov]$ ag5cy employ+ a 
cov]$ employee1 9 consultation ) !      
,director1 may grant a writt5 waiv] ( ! 
re/rictions "u subsection 7a7 if1 & to !
 ext5t t1 ! head ( ! cov]$ ag5cy        
c]tifies 9 writ+ t--  7,a7 ! application
 ( ! re/riction to ! p>ticul> matt] is  
inconsi/5t ) ! purposes ( ! re/riction2 
or  7,b7 x is 9 ! public int]e/ to grant
 ! waiv]4  7#b7 ,publication ,!         
,director %all make ea* waiv] grant$ "u 
p>agraph 7#a7 publicly available on !   
website ( ! ,(fice ( ,gov]nm5t ,e?ics4  
#fjc4 ,negotiat+ future private sector  
employm5t  7a7 ,prohibition ,except z   
provid$ 9 subsection 7c71 & not)/&+ any 

o!r provision ( law1 a cov]$ employee   
may n p>ticipate 9 any p>ticul> matt] t 
involves1 to ! k ( ! cov]$ employee1 an 
individual or entity ) :om ! cov]$      
employee is 9 negotiations ( future     
employm5t or has an arrangem5t conc]n+  
prospective employm5t4  7b7 ,disclosure 
( employm5t negotiations  7#a7 ,9 g5]al 
,if a cov]$ employee beg9s any          
negotiations ( future employm5t ) ano!r 
individual or entity1 or an ag5t or     
int]m$i>y ( ano!r individual or entity1 
or o!r discussion or communication )    
ano!r individual or entity1 or an ag5t  
or int]m$i>y ( ano!r individual or      
entity1 mutually conduct$ ) a view t[>d 
rea*+ an agreem5t reg>d+ possible       
employm5t ( ! cov]$ employee1 ! cov]$   
employee %all notify ! designat$ ag5cy  
e?ics (ficial ( ! cov]$ ag5cy employ+ ! 
cov]$ employee reg>d+ ! negotiations1   
discussions1 or communications4  7#b7   
,in=mation ,a designat$ ag5cy e?ics     
(ficial receiv+ notice "u p>agraph 7#a71
 aft] consultation ) ! ,director1 %all  

in=m ! cov]$ employee ( any pot5tial    
conflicts ( int]e/ involv$ 9 any        
negotiations1 discussions1 or           
communications ) ! o!r individual or    
entity & ! applicable prohibitions4  7c7
 ,waiv]s only :5 exceptional            
circum/ances exi/  7#a7 ,9 g5]al ,! head
 ( a cov]$ ag5cy may only grant a waiv] 
( ! prohibition "u subsection 7a7 if--  
7,a7 ! head ( ! cov]$ ag5cy det]m9es t  
exceptional circum/ances exi/2 &  7,b7 !
 ,director reviews ! circum/ances relat+
 to ! waiv] & ! det]m9ation ( ! head ( !
 cov]$ ag5cy "u subp>agraph 7,a7 &      
det]m9es t exceptional circum/ances     
exi/4  7#b7 ,publication ,= any waiv]   
grant$ "u p>agraph 7#a71 ! ,director    
%all make publicly available on !       
website ( ! ,(fice ( ,gov]nm5t ,e?ics ! 
waiv]1 :i* %all include--  7,a7 ! "n (  
ea* private individual or entity involv$
 9 ! negotiations or arrangem5t conc]n+ 
prospective employm5t2 &  7,b7 ! date on
 :i* ! negotiations or arrangem5ts      
comm5c$4  7d7 ,scope ,= purposes ( ?is  

section1 ! t]m negotiations ( future    
employm5t is n limit$ to discussions (  
specific t]ms or conditions ( employm5t 
9 a specific position4  #fjd4           
,recordkeep+ ,! ,director %all--  7#a7  
receive all employm5t hi/ories1 recusal 
& waiv] records1 & o!r disclosure       
records = cov]$ employees necess>y =    
monitor+ compliance ) ?is title2  7#b7 n
 lat] ?an #ahj days aft] ! date (       
enactm5t ( ?is title & 9 consultation ) 
! ,director ( ! ,(fice ( ,p]sonnel      
,managem5t & ! ,attorney ,g5]al1        
promulgate rules & regulations to       
implem5t ?is title2  7#c7 :5            
appropriate1 provide guidance &         
assi/ance to facilitate compliance ) ?is
 title2  7#d7 review advice provid$ by  
designat$ ag5cy e?ics (ficials1 &1 :5   
necess>y1 assi/ designat$ ag5cy e?ics   
(ficials 9 provid+ advice1 to cov]$     
employees reg>d+ compliance ) ?is title2
 &  7#e7 if ! ,director det]m9es t a    
violation ( ?is title may h occurr$1 !  
,director %all1 9 consultation ) !      

designat$ ag5cy e?ics (ficial ( ! cov]$ 
ag5cy employ+ ! cov]$ employee alleg$ to
 h violat$ ?is title & ! ,c\nsel to !   
,presid5t1 ref] ! compliance case to !  
,unit$ ,/ates ,attorney = ! ,di/rict (  
,columbia = en=cem5t action4  #fje4     
,p5alties & injunctions  7a7 ,crim9al   
p5alties  7#a7 ,9 g5]al ,any p]son :o   
violates section #fjb or #fjc %all be   
f9$ "u title #ah1 ,unit$ ,/ates ,code1  
imprison$ = n m ?an #a ye>1 or bo?4     
7#b7 ,willful violations ,any p]son :o  
willfully violates section #fjb or #fjc 
%all be f9$ "u title #ah1 ,unit$ ,/ates 
,code1 imprison$ = n m ?an #e ye>s1 or  
bo?4  7b7 ,civil en=cem5t  7#a7 ,9 g5]al
 ,! ,attorney ,g5]al may br+ a civil    
action 9 an appropriate di/rict c\rt ( !
 ,unit$ ,/ates aga9/ any p]son :o       
violates1 or :om ! ,attorney ,g5]al has 
reason to believe is engag+ 9 conduct t 
violates1 section #fjb or #fjc4  7#b7   
,civil p5alty  7,a7 ,9 g5]al ,^u pro( by
 a prepond]ance ( ! evid5ce t a p]son   
violat$ section #fjb or #fjc1 ! c\rt    

%all impose a civil p5alty ( n m ?an !  
great] (-- 7i7 #ajj1jjj = ea* violation2
 or  7ii7 ! am\nt ( comp5sation ! p]son 
receiv$ or 0 (f]$ = ! conduct con/itut+ 
! violation4  7,b7 ,rule ( con/ruction  
,a civil p5alty "u ?is subsection %all  
be 9 addition to any o!r crim9al or     
civil /atutory1 common law1 or          
adm9i/rative rem$y available to ! ,unit$
 ,/ates or any o!r p]son4  7#c7         
,injunctive relief  7,a7 ,9 g5]al ,9 a  
civil action br\ght "u p>agraph 7#a7    
aga9/ a p]son1 ! ,attorney ,g5]al may   
petition ! c\rt = an ord] prohibit+ !   
p]son f engag+ 9 conduct t violates     
section #fjb or #fjc4  7,b7 ,/&>d ,!    
c\rt may issue an ord] "u subp>agraph   
7,a7 if ! c\rt f9ds by a prepond]ance ( 
! evid5ce t ! conduct ( ! p]son violates
 section #fjb or #fjc4  7,c7 ,rule (    
con/ruction ,! fil+ ( a petition seek+  
injunctive relief "u ?is p>agraph %all n
 preclude any o!r rem$y t is available  
by law to ! ,unit$ ,/ates or any o!r    
p]son4  4  #d4 ,prohibition ( procurem5t

 (fic]s accept+ employm5t f ,gov]nm5t   
contractors  7a7 ,expansion (           
prohibition on acceptance by =m]        
(ficials ( comp5sation f contractors    
,section #bajd ( title #da1 ,unit$      
,/ates ,code1 is am5d$--  7#a7 9        
subsection 7a7-- 7,a7 9 ! matt] prec$+  
p>agraph 7#a7--  7i7 by /rik+ or        
consultant & ins]t+ consultant1 lawy]1  
or lobbyi/2 &  7ii7 by /rik+ "o ye> &   
ins]t+ #b ye>s2 &  7,b7 9 p>agraph 7#c71
 9 ! matt] prec$+ subp>agraph 7,a71 by  
/rik+ p]sonally made = ! ,f$]al ag5cy & 
ins]t+ p>ticipat$ p]sonally &           
sub/antially 92 &  7#b7 by /rik+        
subsection 7b7 & ins]t+ ! foll[+3  7b7  
,prohibition on comp5sation f affiliates
 & subcontractors ,a =m] (ficial ( a    
,f$]al ag5cy responsible = a ,gov]nm5t  
contract ref]r$ to 9 p>agraph 7#a71     
7#b71 or 7#c7 ( subsection 7a7 may n    
accept comp5sation f any division1      
affiliate1 or subcontractor ( !         
contractor dur+ ! #b-ye> p]iod beg9n+ on
 ! la/ date on :i* ! =m] (ficial 0      

employ$ by ! ,f$]al ag5cy4  4  7b7      
,requirem5t = procurem5t (fic]s ,to     
disclose job (f]s made on behalf (      
relatives ,section #bajc7;a7 ( title    
#da1 ,unit$ ,/ates ,code1 is am5d$ 9 !  
matt] prec$+ p>agraph 7#a7 by ins]t+    
aft] t (ficial ! foll[+3 1 or = a       
relative 7z def9$ 9 section #caaj (     
title #e7 ( t (ficial14  7c7 ,requirem5t
 on aw>d ( ,gov]nm5t contracts to =m]   
employ]s  7#a7 ,9 g5]al ,*apt] #ba (    
title #da1 ,unit$ ,/ates ,code1 is      
am5d$-- 7,a7 by r$esignat+ section #bajg
 z section #bajh2 &  7,b7 by ins]t+ aft]
 section #bajf ! foll[+3  #bajg4        
,prohibition on involvem5t by c]ta9 =m] 
contractor employees 9 procurem5ts ,an  
employee ( ! ,f$]al ,gov]nm5t may n be  
p]sonally & sub/antially involv$ ) any  
aw>d ( a contract to1 or ! adm9i/ration 
( a contract aw>d$ to1 a contractor t is
 a =m] employ] ( ! employee dur+ !      
#b-ye> p]iod beg9n+ on ! date on :i* !  
employee leaves ! employm5t ( !         
contractor4  4  7#b7 ,te*nical & con=m+ 

am5dm5t ,! table ( sections = *apt] #ba 
( title #da1 ,unit$ ,/ates ,code1 is    
am5d$ by /rik+ ! item relat+ to section 
#bajg & ins]t+ ! foll[+3  #bajg4        
,prohibition on involvem5t by c]ta9 =m] 
contractor employees 9 procurem5ts4     
#bajh4 ,sav+s provisions4  4  7d7       
,regulations ,! ,adm9i/rator = ,f$]al   
,procurem5t ,policy & ! ,director ( !   
,(fice ( ,managem5t & ,budget %all1 )   
respect to *apt] #ba ( title #da1 ,unit$
 ,/ates ,code1 z am5d$ by ?is section-- 
7#a7 n lat] ?an #ahj days aft] ! date ( 
enactm5t ( ?is ,act & 9 consultation ) !
 ,director ( ! ,(fice ( ,p]sonnel       
,managem5t & ! ,c\nsel to ! ,presid5t1  
promulgate regulations to c>ry out &    
ensure ! en=cem5t ( t *apt]2 &  7#b7 9  
consultation ) designat$ ag5cy e?ics    
(ficials 7z def9$ 9 section #fja ( !    
,e?ics 9 ,gov]nm5t ,act ( #aigh 7#e     
,u4,s4,c4 ,app471 z add$ by section #c (
 ?is ,act71 monitor compliance ) t *apt]
 by individuals & ag5cies4  #e4 ,revolv+
 door re/rictions on c]ta9 cov]$        

employees mov+ into ! private sector    
7a7 ,9 g5]al ,section #bjg ( title #ah1 
,unit$ ,/ates ,code1 is am5d$-- 7#a7 by 
r$esignat+ subsections 7e7 ?r\gh 7l7 z  
subsections 7f7 ?r\gh 7m71 respectively2
 &  7#b7 by ins]t+ aft] subsection 7d7 !
 foll[+3  7e7 ,re/rictions on employm5t 
= cov]$ employees  7#a7 ,def9itions ,9  
?is subsection--  7,a7 ! t]m cov]$      
employee has ! mean+ giv5 ! t]m 9       
section #fja ( ! ,e?ics 9 ,gov]nm5t ,act
 ( #aigh 7#e ,u4,s4,c4 ,app472 &  7,b7 !
 t]ms lobby+ activities & lobbyi/ h !   
mean+s giv5 ^? t]ms 9 section #c ( !    
,lobby+ ,disclosure ,act ( #aiie 7#b    
,u4,s4,c4 #afjb74  7#b7 ,9 g5]al ,9     
addition to ! re/rictions set =? 9      
subsections 7a71 7b71 7c71 & 7d71 an    
individual :o is a cov]$ employee %all  
n-- 7,a7 dur+ ! #b-ye> p]iod beg9n+ on !
 date on :i* ! employm5t ( ! individual 
z a cov]$ employee ceases--  7i7 kn[+ly 
act z ag5t or attorney =1 or o!rwise    
repres5t1 any o!r p]son 7except ! ,unit$
 ,/ates7 = comp5sation 9 any =mal or    

in=mal appe>ance be=e2  7ii7 ) ! int5t  
to influ5ce1 make any oral or writt5    
communication on behalf ( any o!r p]son 
7except ! ,unit$ ,/ates7 to2 or  7iii7  
kn[+ly aid1 advise1 or assi/ 9-- 7,i7   
repres5t+ any o!r p]son 7except ! ,unit$
 ,/ates7 9 any =mal or in=mal appe>ance 
be=e2 or  7,,ii7 mak+1 ) ! int5t to     
influ5ce1 any oral or writt5            
communication on behalf ( any o!r p]son 
7except ! ,unit$ ,/ates7 to1  any c\rt (
 ! ,unit$ ,/ates1 or any (fic] or       
employee !re(1 9 connection ) any       
judicial or o!r proce$+ t 0 actually    
p5d+ "u ! (ficial responsibility ( !    
individual z a cov]$ employee dur+ !    
#a-ye> p]iod end+ on ! date on :i* !    
employm5t ( ! individual z a cov]$      
employee ceases or 9 :i* ! individual   
p>ticipat$ p]sonally & sub/antially z a 
cov]$ employee2 or  7,b7 dur+ ! #b-ye>  
p]iod beg9n+ on ! date on :i* !         
employm5t ( ! individual z a cov]$      
employee ceases--  7i7 kn[+ly act z a   
lobbyi/ or ag5t =1 or o!rwise repres5t1 

any o!r p]son 7except ! ,unit$ ,/ates7 =
 comp5sation 9 any =mal or in=mal       
appe>ance be=e2  7ii7 ) ! int5t to      
influ5ce1 make any oral or writt5       
communication or conduct any lobby+     
activities on behalf ( any o!r p]son    
7except ! ,unit$ ,/ates7 to2 or  7iii7  
kn[+ly aid1 advise1 or assi/ 9-- 7,i7   
repres5t+ any o!r p]son 7except ! ,unit$
 ,/ates7 9 any =mal or in=mal appe>ance 
be=e2 or  7,,ii7 mak+1 ) ! int5t to     
influ5ce1 any oral or writt5            
communication or conduct any lobby+     
activities on behalf ( any o!r p]son    
7except ! ,unit$ ,/ates7 to1  any       
dep>tm5t or ag5cy ( ! executive bran* or
 ,congress 7includ+ any committee (     
,congress71 or any (fic] or employee    
!re(1 9 connection ) any matt] t is p5d+
 be=e ! dep>tm5t1 ! ag5cy1 or ,congress4
  7#c7 ,p5alty ,any p]son :o violates   
p>agraph 7#b7 %all be puni%$ z provid$ 9
 section #baf4  4  7b7 ,te*nical &      
con=m+ am5dm5ts  7#a7 ,hone/ ,lead]%ip &
 ,op5 ,gov]nm5t ,act ( #bjjg ,section   

#ajc7;a7 ( ! ,hone/ ,lead]%ip & ,op5    
,gov]nm5t ,act ( #bjjg 7#b ,u4,s4,c4    
#dgjb7;a77 is am5d$ by /rik+ section    
#bjg7;e7 ea* place x appe>s & ins]t+    
section #bjg7;f74  7#b7 ,int]nal ,rev5ue
 ,code ( #aihf ,section                 
#ghjb7;b77#c77;,b7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by /rik+ & 7f7 ( 
section #bjg & ins]t+ & 7g7 ( section   
#bjg4  7#c7 ,title #ah1 ,unit$ ,/ates   
,code ,section #bjg ( title #ah1 ,unit$ 
,/ates ,code1 z am5d$ by subsection 7a71
 is am5d$-- 7,a7 9 subsection 7g71 z s  
r$esignat$1 by /rik+ or 7e7 & ins]t+ or 
7f72  7,b7 9 subsection 7j77#a77;,b71 z 
s r$esignat$1 by /rik+ subsection 7f7 & 
ins]t+ subsection 7g72 &  7,c7 9        
subsection 7k71 z s r$esignat$--  7i7 9 
p>agraph 7#a77;,b71 by /rik+ 7#be       
,u4,s4,c4 #dej;i7j77 & ins]t+ 7#be      
,u4,s4,c4 #ecbc7;j772  7ii7 9 p>agraph  
7#b71 9 ! matt] prec$+ subp>agraph 7,a71
 by /rik+ & 7e7 & ins]t+ 7e71 & 7f72    
7iii7 9 p>agraph 7#d71 by /rik+ & 7e7 & 
ins]t+ 7e71 & 7f72 &  7iv7 9 p>agraph   

7#g7--  7,i7 9 subp>agraph 7,a71 by     
/rik+ & 7e7 & ins]t+ 7e71 & 7f72 &      
7,,ii7 9 subp>agraph 7,b77ii71 9 ! matt]
 prec$+ subclause 7,i71 by /rik+        
subsections 7c71 7d71 or 7e7 & ins]t+   
subsection 7c71 7d71 7e71 or 7f74  7#d7 
,title #di1 ,unit$ ,/ates ,code ,section
 #ajf7p77#f77;,i77ii7 ( title #di1      
,unit$ ,/ates ,code1 is am5d$ by /rik+ &
 7f7 ( section #bjg & ins]t+ & 7g7 (    
section #bjg4  7#e7 ,trade ,act ( #aigd 
,section #ada7;b77#d7 ( ! ,trade ,act ( 
#aigd 7#ai ,u4,s4,c4 #baga7;b77#d77 is  
am5d$ by /rik+ section #bjg7;f77#c7 &   
ins]t+ #bjg7;g77#c74  7#f7 ,,usec       
,privatization ,act ,section #caje7;c7 (
 ! ,,usec ,privatization ,act 7#db      
,u4,s4,c4 #bbig;h-#c7;c77 is am5d$ by   
/rik+ & 7d7 & ins]t+ 7d71 & 7e74  #f4   
,re/rictions on ,f$]al exam9]s &        
sup]visors ( f9ancial in/itutions  7a7  
,9 g5]al ,section #aj7k7 ( ! ,f$]al     
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahbj7k77 is am5d$--  7#a7 9 !          
subsection head+-- 7,a7 by /rik+        

,"o-,ye> & ins]t+ ,two-,ye>2 &  7,b7 by 
/rik+ ,exam9]s & ins]t+ ,exam9]s &      
,sup]visors2  7#b7 9 p>agraph 7#a7--    
7,a7 by /rik+ subp>agraph 7,b7 & ins]t+ 
! foll[+3  7,b7 s]v$--  7i7 n less ?an  
#b mon?s dur+ ! f9al #ab mon?s ( !      
employm5t ( ! p]son ) t ag5cy or entity 
z ! s5ior exam9] 7or a functionally     
equival5t position7 ( a depository      
in/itution or depository in/itution     
hold+ company ) cont9u+1 broad          
responsibility = ! exam9ation 7or       
inspection7 ( t depository in/itution or
 depository in/itution hold+ company on 
behalf ( ! relevant ag5cy or ,f$]al     
res]ve bank2 or  7ii7 z a sup]visor ( ! 
s5ior exam9] ) responsibility = manag+ !
 ov]sight ( n m ?an #e depository       
in/itutions or depository in/itution    
hold+ companies on behalf ( ! relevant  
ag5cy or ,f$]al res]ve bank2 &  2 &     
7,b7 9 subp>agraph 7,c7-- 7i7 9 ! matt] 
prec$+ clause 7i71 by /rik+ #a ye> &    
ins]t+ #b ye>s2  7ii7 9 clause 7i7--    
7,i7 by /rik+ o!r company & ins]t+ o!r  

company1 firm1 or association2 &  7,,ii7
 by /rik+ or at ! end2  7iii7 9 clause  
7ii71 by /rik+ ! p]iod at ! end & ins]t+
 2 or2 &  7iv7 by add+ at ! end !       
foll[+3  7iii7 a bus9ess entity1 firm1  
or association t repres5ts ! depository 
in/itution or depository in/itution     
hold+ company = comp5sation4  2  7#c7 by
 r$esignat+ p>agraphs 7#b7 ?r\gh 7#f7 z 
p>agraphs 7#c7 ?r\gh 7#g71 respectively2
  7#d7 by ins]t+ aft] p>agraph 7#a7 !   
foll[+3  7#b7 ,application ( p5alties = 
sup]visors ,a sup]visor ( a cov]$       
f9ancial s]vices regulator1 or a        
sup]visor ( a s5ior exam9] describ$ 9   
p>agraph 7#a77;,b77i71 %all be subject  
to ! p5alties describ$ 9 p>agraph 7#g7  
if ! sup]visor kn[+ly accepts           
comp5sation dur+ ! #b-ye> p]iod beg9n+  
on ! date on :i* ! s]vice ( ! sup]visor 
is t]m9at$-- 7,a7 z--  7i7 an employee2 
7ii7 an (fic]2  7iii7 a director2 or    
7iv7 a consultant2 &  7,b7 f-- 7i7 a    
depository in/itution2  7ii7 a          
depository in/itution hold+ company t is

 designat$ by ! ,f9ancial ,/ability     
,ov]sight ,c\ncil z a sy/emically       
important f9ancial m>ket utility "u     
section #hjd ( ! ,paym5t1 ,cle>+1 &     
,settlem5t ,sup]vision ,act ( #bjaj 7#ab
 ,u4,s4,c4 #edfc72 or  7iii7 a bus9ess  
entity1 firm1 or association t repres5ts
 an in/itution describ$ 9 clause 7ii7 = 
comp5sation4  2  7#e7 9 p>agraph 7#c71 z
 s r$esignat$-- 7,a7 by r$esignat+      
subp>agraphs 7,a7 & 7,b7 z subp>agraphs 
7,c7 & 7,d71 respectively2 &  7,b7 by   
ins]t+ be=e subp>agraph 7,c71 z s       
r$esignat$1 ! foll[+3  7,a7 ! t]m cov]$ 
f9ancial s]vices ag5cy--  7i7 means a   
prim>y f9ancial regulatory ag5cy 7z     
def9$ 9 section #b ( ! ,dodd-,frank     
,wall ,/reet ,re=m & ,consum]           
,protection ,act 7#ab ,u4,s4,c4 #ecja772
 &  7ii7 includes--  7,i7 ! ,bo>d (     
,gov]nors ( ! ,f$]al ,res]ve ,sy/em2    
7,,ii7 ! ,(fice ( ! ,comptroll] ( !     
,curr5cy2  7,,iii7 ! ,f$]al ,deposit    
,insurance ,corporation2  7,,iv7 !      
,national ,cr$it ,union ,adm9i/ration2  

7,v7 ! ,securities & ,ex*ange           
,commission2  7,,vi7 ! ,f$]al ,h\s+     
,f9ance ,ag5cy2  7,,vii7 ! ,bureau (    
,consum] ,f9ancial ,protection2         
7,,viii7 ! ,commodity ,futures ,trad+   
,commission2  7,,ix7 ! ,dep>tm5t ( !    
,treasury2  7,x7 ! ,national ,economic  
,c\ncil2 &  7,,xi7 ! ,c\ncil ( ,economic
 ,advis]s2  7,b7 ! t]m cov]$ f9ancial   
s]vices regulator means an (fic] or     
employee ( a cov]$ f9ancial s]vices     
ag5cy :o occupies--  7i7 a sup]visory   
position classifi$ above ,,gs-#ae ( !   
,g5]al ,s*$ule2  7ii7 9 ! case ( a      
position n "u ! ,g5]al ,s*$ule1 a       
sup]visory position = :i* ! rate ( basic
 pay is n less ?an #abj p]c5t ( ! m9imum
 rate ( basic pay = ,,gs-#ae ( ! ,g5]al 
,s*$ule2 or  7iii7 any o!r sup]visory   
position det]m9$ to be ( equal          
classification z a position describ$ 9  
clause 7i7 by ! ,director ( ! ,(fice (  
,gov]nm5t ,e?ics2  2  7#f7 9 p>agraph   
7#d71 z s r$esignat$1 by /rik+ or o!r   
company ea* place x appe>s & ins]t+ or  

o!r company1 firm1 or association2 &    
7#g7 9 p>agraph 7#g71 z s r$esignat$--  
7,a7 9 subp>agraph 7,a7--  7i7 9 ! matt]
 prec$+ clause 7i71 by /rik+ o!r company
 & ins]t+ o!r company1 firm1 or         
association2 &  7ii7 9 clause 7i77,i71  
by /rik+ o!r company & ins]t+ o!r       
company1 firm1 or association2 &  7,b7 9
 subp>agraph 7,c71 by /rik+ a company & 
ins]t+ a company1 firm1 or association4 
7b7 ,te*nical & con=m+ am5dm5ts ,section
 #aj7k7 ( ! ,f$]al ,deposit ,insurance  
,act 7#ab ,u4,s4,c4 #ahbj7k77 is am5d$--
  7#a7 9 p>agraph 7#a71 9 ! matt] prec$+
 subp>agraph 7,a71 by /rik+ p>agraph    
7#f7 & ins]t+ p>agraph 7#g72  7#b7 9    
p>agraph 7#e77;,a71 z s r$esignat$1 by  
/rik+ p>agraph 7#a77;,b7 & ins]t+       
p>agraphs 7#a77;,b7 & 7#b72 &  7#c7 9   
p>agraph 7#g71 z s r$esignat$-- 7,a7 9  
subp>agraph 7,a7--  7i7 by /rik+ subject
 to p>agraph 7#a7 & ins]t+ subject to   
p>agraph 7#a7 or 7#b72 &  7ii7 by /rik+ 
p>agraph 7#a77;,c7 & ins]t+ p>agraph    
7#a77;,c7 or 7#b72 &  7,b7 9 subp>agraph

 7,c7-- 7i7 by /rik+ p]son describ$ 9   
p>agraph 7#a7 & ins]t+ p]son describ$ 9 
p>agraph 7#a7 or 7#b72 &  7ii7 by /rik+ 
! functions describ$ 9 p>agraph         
7#a77;,b7 & ins]t+ ! functions or duties
 describ$ 9 p>agraph 7#a77;,b7 or 7#b74 
#g4 ,sev]ability ,if any provision ( ?is
 ,act or any am5dm5t made by ?is ,act1  
or any application ( su* provision or   
am5dm5t to any p]son or circum/ance1 is 
held to be uncon/itutional1 ! rema9d] ( 
! provisions ( ?is ,act & ! am5dm5ts    
made by ?is ,act & ! application ( !    
provision or am5dm5t to any o!r p]son or
 circum/ance %all n be affect$4