Page:United States Statutes at Large Volume 107 Part 3.djvu/419

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TEE. - PUBLIC LAW 103-202—DEC. 17, 1993 107 STAT. 2357 (2) agrees to comply with regulations and procedures applicable to the automated system and the sale upon issuance of securities issued by the Secretary. (b) PROHIBITION ON FAVORED PLAYERS. — (1) IN GENERAIJ. — No government securities broker or government securities dealer may receive any advantage, favorable treatment, or other benefit, in connection with the purchase upon issuance of securities issued by the Secretary of the Treasury, which is not generally available to other government securities brokers or government securities dealers under the regulations governing the sale upon issuance of securities issued by the Secretary of the Treasury. (2) EXCEPTION.— (A) IN GENERAL.— The Secretary of the Treasury may grant an exception to the application of paragraph (1) if— (i) the Secretary determines that any advantage, favorable treatment, or other benefit referred to in such paragraph is necessary and appropriate and in the public interest; and (ii) the grant of the exception is designed to minimize any anticompetitive effect. (B) ANNUAL, REPORT. — The Secretary of the Treasury shall submit an annual report to the Congress describing any exception granted by the Secretary under subparagraph (A) during the year covered by the report and the basis upon which the exception was granted. (c) MEETINGS OF TREASURY BORROWING ADVISORY COMMIT- (1) OPEN MEETINGS. — (A) IN GENERAL. —Except as provided in subparagraph (B), any meeting of the Treasury Borrowing Advisory Committee of the Public Securities Association (hereafter in this subsection referred to as the "advisory committee"), or any successor to the advisory committee, shall be open to the public. (B) EXCEPTION.— Subparagraph (A) shall not apply with respect to any part of any meeting of the advisory committee in which the advisory committee— (i) discusses and debates the issues presented to the advisory committee by the Secretary of the Treasury; or (ii) makes recommendations to the Secretary. (2) MINUTES OF EACH MEETING.— The detailed minutes required to be maintained under section 10(c) of the Federal Advisory Committee Act for any meeting by the advisory committee shall be made available to the public within 3 busi- • ness days of the date of the meeting. (3) PROHIBITION ON RECEIPT OF GRATUITIES OR EXPENSES BY ANY OFFICER OR EMPLOYEE OF THE BOARD OR DEPARTMENT.— In connection with any meeting of the advisory committee, no officer or employee of the Department of the Treasury, the Board of Governors of the Federal Reserve System, or any Federal reserve bank may accept any gratuity, consideration, expense of any sort, or any other thing of value from any advisory committee described in subsection (c), any member of such committee, or any other person. (4) PROHIBITION ON OUTSIDE DISCUSSIONS.—