---
kind: "section"
citation: "31 C.F.R. § 19.115"
title: "31"
number: "19.115"
heading: "How does an exclusion restrict a person's involvement in covered transactions?"
url: "https://uscodex.org/cfr/31/19.115"
---

# §19.115. How does an exclusion restrict a person's involvement in covered transactions?


With the exceptions stated in §§ [19.120](/cfr/31/19.120.md), [19.315](/cfr/31/19.315.md), and [19.420](/cfr/31/19.420.md), a person who is excluded by the Department of the Treasury or any other Federal agency may not:

- (a) Be a participant in a(n) Department of the Treasury transaction that is a covered transaction under [subpart B](/cfr/31/subpartB.md) of this part;
- (b) Be a participant in a transaction of any other Federal agency that is a covered transaction under that agency's regulation for debarment and suspension; or
- (c) **Act as a principal of a person participating in one of those covered transactions.**

## Notes

### Authority

Authority: Sec. 2455, Pub. L. 103-355, 108 Stat. 3327 (31 U.S.C. 6101 note); E.O. 11738 (3 CFR, 1973 Comp., p. 799); E.O. 12549 (3 CFR, 1986 Comp., p. 189); E.O. 12689 (3 CFR, 1989 Comp., p. 235).

### Source

Source: 68 FR 66544, 66605, 66607, Nov. 26, 2003, unless otherwise noted.