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5 USC CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION

PROJECT 01/06/03

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TITLE 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES

PART III - EMPLOYEES

Subpart C - Employee Performance

CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION PROJECT

.

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CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION PROJECT

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Sec.

4801. Nonapplicability of chapter 47.

4802. Securities and Exchange Commission.

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5 USC Sec. 4801 01/06/03

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TITLE 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES

PART III - EMPLOYEES

Subpart C - Employee Performance

CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION PROJECT

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Sec. 4801. Nonapplicability of chapter 47

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Chapter 47 shall not apply to this chapter.

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(Added Pub. L. 107-123, Sec. 8(a), Jan. 16, 2002, 115 Stat. 2398.)

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EFFECTIVE DATE

Chapter effective Oct. 1, 2001, see section 11 of Pub. L.

107-123, set out as an Effective Date of 2002 Amendment note under

section 78ee of Title 15, Commerce and Trade.

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5 USC Sec. 4802 01/06/03

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TITLE 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES

PART III - EMPLOYEES

Subpart C - Employee Performance

CHAPTER 48 - AGENCY PERSONNEL DEMONSTRATION PROJECT

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Sec. 4802. Securities and Exchange Commission

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(a) In this section, the term ''Commission'' means the Securities

and Exchange Commission.

(b) The Commission may appoint and fix the compensation of such

officers, attorneys, economists, examiners, and other employees as

may be necessary for carrying out its functions under the

securities laws as defined under section 3 of the Securities

Exchange Act of 1934 (15 U.S.C. 78c).

(c) Rates of basic pay for all employees of the Commission may be

set and adjusted by the Commission without regard to the provisions

of chapter 51 or subchapter III of chapter 53.

(d) The Commission may provide additional compensation and

benefits to employees of the Commission if the same type of

compensation or benefits are then being provided by any agency

referred to under section 1206 of the Financial Institutions

Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1833b) or,

if not then being provided, could be provided by such an agency

under applicable provisions of law, rule, or regulation. In

setting and adjusting the total amount of compensation and benefits

for employees, the Commission shall consult with, and seek to

maintain comparability with, the agencies referred to under section

1206 of the Financial Institutions Reform, Recovery, and

Enforcement Act of 1989 (12 U.S.C. 1833b).

(e) The Commission shall consult with the Office of Personnel

Management in the implementation of this section.

(f) This section shall be administered consistent with merit

system principles.

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(Added Pub. L. 107-123, Sec. 8(a), Jan. 16, 2002, 115 Stat. 2398.)

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EMPLOYEES REPRESENTED BY LABOR ORGANIZATIONS

Pub. L. 107-123, Sec. 8(b), Jan. 16, 2002, 115 Stat. 2398,

provided that: ''To the extent that any employee of the Securities

and Exchange Commission is represented by a labor organization with

exclusive recognition in accordance with chapter 71 of title 5,

United States Code, no reduction in base pay of such employee shall

be made by reason of enactment of this section (enacting this

chapter, amending sections 3132 and 5373 of this title, section

1833b of Title 12, Banks and Banking, and section 78d of Title 15,

Commerce and Trade, and enacting provisions set out as a note under

this section) (including the amendments made by this section).''

IMPLEMENTATION PLAN AND REPORT

Pub. L. 107-123, Sec. 8(c), Jan. 16, 2002, 115 Stat. 2398,

provided that:

''(1) Implementation plan. -

''(A) In general. - The Securities and Exchange Commission

shall develop a plan to implement section 4802 of title 5, United

States Code, as added by this section.

''(B) Inclusion in annual performance plan and report. - The

Securities and Exchange Commission shall include -

''(i) the plan developed under this paragraph in the annual

program performance plan submitted under section 1115 of title

31, United States Code; and

''(ii) the effects of implementing the plan developed under

this paragraph in the annual program performance report

submitted under section 1116 of title 31, United States Code.

''(2) Implementation report. -

''(A) In general. - Before implementing the plan developed

under paragraph (1), the Securities and Exchange Commission shall

submit a report to the Committee on Governmental Affairs and the

Committee on Banking, Housing, and Urban Affairs of the Senate,

the Committee on Government Reform and the Committee on Financial

Services of the House of Representatives, and the Office of

Personnel Management on the details of the plan.

''(B) Content. - The report under this paragraph shall include

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''(i) evidence and supporting documentation justifying the

plan; and

''(ii) budgeting projections on costs and benefits resulting

from the plan.''

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SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 5373 of this title; title

15 section 78d.

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5 USC Subpart D - Pay and Allowances 01/06/03

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TITLE 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES

PART III - EMPLOYEES

Subpart D - Pay and Allowances

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Subpart D - Pay and Allowances

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SUBPART REFERRED TO IN OTHER SECTIONS

This subpart is referred to in section 1103 of this title; title

10 section 1602.

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