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e-CFR data is current as of January 19, 2021

Title 29Subtitle BChapter XIIPart 1471Subpart C → Subject Group

Title 29: Labor
Subpart C—Responsibilities of Participants Regarding Transactions

Disclosing Information—Lower Tier Participants

§1471.355   What information must I provide to a higher tier participant before entering into a covered transaction with that participant?

Before you enter into a covered transaction with a person at the next higher tier, you as a lower tier participant must notify that person if you know that you or any of the principals are presently excluded or disqualified.

§1471.360   What happens if I fail to disclose the information required under §1471.355?

If we later determine that you failed to tell the person at the higher tier that you were excluded or disqualified at the time you entered into the covered transaction with that person, we may pursue any available remedies, including suspension and debarment.

§1471.365   What must I do if I learn of information required under §1471.355 after entering into a covered transaction with a higher tier participant?

At any time after you enter into a lower tier covered transaction with a person at a higher tier, you must provide immediate written notice to that person if you learn either that—

(a) You failed to disclose information earlier, as required by §1471.355; or

(b) Due to changed circumstances, you or any of the principals for the transaction now meet any of the criteria in §1471.355.

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