After entering into a covered transaction with a participant, you as an agency official may not approve a participant's use of an excluded person as a principal under that transaction, unless you obtain an exception under  § 85.120.
     
    
        
            Code of Federal Regulations
        
        (Authority: E.O. 12549 (3 CFR, 1986 Comp., p. 189); E.O 12689 (3 CFR, 1989 Comp., p. 235); 
                20 U.S.C. 1082, 1094, 1221e-3 and 3474
            ; and Sec. 2455, Pub. L. 103-355, 108 Stat. 3243 at 3327)