This subpart does not require an employee to submit, on a statement of employment
and financial interests or supplementary statement, any information relating to the policy
holdings in an insurance company and the stock or bond holdings in a mutual fund, investment
company, or bank; provided, that in the case of a mutual fund, investment company, or bank,
the fair value of such stock or bond holding does not exceed one percent of the value of the
reported assets of the mutual fund, investment company, or bank. In addition, this subpart
does not require submission of information relating to the employee's connection with, or
interest in, a professional society or charitable, religious, social, fraternal, recreational,
public service, civic, or political organization, or a similar organization not conducted as a
business enterprise or subject to the provisions of the Occupational Safety and Health Act of 1970.
For the purpose of this section, educational and other institutions doing research and development
or related work involving grants of money from or contracts with the Government are deemed "business
enterprises" and are required to be included in an employee's statement of employment and financial
interests.
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