No supervisory employee shall knowingly receive compensation from, or hold any official relation with, any energy concern, or own stocks or bonds of any energy concern, or have any pecuniary interest therein.
Personnel transferred to the Department pursuant to section 7291 of this title shall have six months to comply with the provisions of subsection (a) of this section with respect to prohibited property holdings. Any person transferred pursuant to section 7291 of this title shall notify the Secretary or his designee of all known circumstances which would be violative of the restrictions set forth in subsection (a) of this section not later than thirty days after the date of such transfer, as determined by the Director of the Office of Personnel Management.
(1) Where exceptional hardship would result, or where the interest is a pension, insurance or other similarly vested interest, the Secretary is authorized to waive the requirements of this section for such period as he may prescribe with respect to any supervisory employee covered. Such waiver shall:
(A) be published in the Federal Register;
(B) contain a finding by the Secretary that exceptional hardship would result or that there is such a vested interest; and
(C) state the period of the waiver and indicate the actions taken to minimize or eliminate the conflict of interest during such period.
(2)(A) The Secretary may, on a case-by-case basis, waive the requirements of this section for a supervisory employee covered if the Secretary finds that the waiver is in the best interests of the Department. A waiver under this paragraph is effective for that supervisory employee only if that supervisory employee establishes a qualified trust as provided in subparts D and E of 5 Code of Federal Regulations part 2634, as in effect on November 30, 1993. The provisions of section 2634.403(b)(3) of such part shall not apply to this paragraph.
(B) A waiver under this paragraph shall be published in the Federal Register and shall contain the basis for the finding required by this paragraph. The waiver shall be for such period as the Secretary shall prescribe and may be renewed by the Secretary.
Any supervisory employee who continues to receive income from any energy concern, or continues to own property directly or indirectly in any such concern shall disclose such income or ownership to the extent known.
(Pub. L. 95–91, title VI, §602, Aug. 4, 1977, 91 Stat. 592; 1978 Reorg. Plan No. 2, §102, eff. Jan. 1, 1979, 43 F.R. 36037, 92 Stat. 3784; Pub. L. 103–160, div. C, title XXXI, §3161(b), (c)(1)(C), Nov. 30, 1993, 107 Stat. 1958.)
1993—Subsec. (c). Pub. L. 103–160, §3161(b), designated existing provisions as par. (1), redesignated former pars. (1) to (3) as subpars. (A) to (C), respectively, and added par. (2).
Subsec. (d). Pub. L. 103–160, §3161(c)(1)(C), substituted “ownership to the extent known” for “ownership pursuant to section 7213 of this title”.
“Director of the Office of Personnel Management” substituted for “United States Civil Service Commission” pursuant to Reorg. Plan No. 2 of 1978, §102, 43 F.R. 36037, 92 Stat. 3783, set out under section 1101 of Title 5, Government Organization and Employees, which transferred all functions vested by statute in United States Civil Service Commission to Director of Office of Personnel Management (except as otherwise specified), effective Jan. 1, 1979, as provided by section 1–102 of Ex. Ord. No. 12107, Dec. 28, 1978, 44 F.R. 1055, set out under section 1101 of Title 5.
This section is referred to in sections 7211, 7218 of this title.