§ 1506.3 - Contractors’ Conflicts Committee and Outside Counsels’ Conflicts Committee.

(a) Designation. The Board of Directors of the Corporation will designate officials of the FDIC or Corporation as members of a Contractors’ Conflicts Committee, which will resolve issues of conflict of interest affecting independent contractors, other than law firms, which arise under these regulations. The Outside Counsels’ Conflicts Committee appointed by the General Counsel of the FDIC, or designee, will resolve issues of conflict of interest relating to law firms.

(b) Authority. The Contractors’ Conflicts Committee and the Outside Counsels’ Conflicts Committee may delegate their authority to resolve conflicts of interest issues which arise under these regulations.

(c) Referrals to the Board of the Corporation. The Contractors’ Conflicts Committee and the Outside Counsels’ Conflicts Committee may make referrals of and recommendations to the Board of Directors of the Corporation with respect to situations in which a Committee determines that a very significant conflict of interest exists but, nevertheless, the contractor should be engaged because the contractor has special expertise not otherwise available or the engagement is otherwise in the best interests of the government.

(d) Decisions. Decisions issued either by the Contractors’ Conflicts Committee itself, or the Board of Directors of the Corporation itself on matters referred to it by the Contractors’ Conflict Committee shall be in writing and shall include statements of the bases for the decisions. Such decisions shall be filed with the Executive Secretary of the Resolution Trust Corporation and shall be made available to the public upon request, with such redactions as may be required to protect the privacy interests of identifiable individuals or confidential business information.