29 C.F.R. § 2570.31 Definitions.
Title 29 - Labor
For purposes of these procedures, the following definitions apply: (a) An affiliate of a person means— (1) Any person directly or indirectly through one or more intermediaries, controlling, controlled by, or under common control with the person; (2) Any director of, relative of, or partner in, any such person; (3) Any corporation, partnership, trust, or unincorporated enterprise of which such person is an officer, director, or a 5 percent or more partner or owner; and (4) Any employee or officer of the person who— (i) Is highly compensated (as defined in section 4975(e)(2)(H) of the Code), or (ii) Has direct or indirect authority, responsibility, or control regarding the custody, management, or disposition of plan assets. (b) A class exemption is an administrative exemption, granted under section 408(a) of ERISA, section 4975(c)(2) of the Code, and/or 5 U.S.C. 8477(c)(3), which applies to any parties in interest within the class of parties in interest specified in the exemption who meet the conditions of the exemption. (c) Department means the U.S. Department of Labor and includes the Secretary of Labor or his delegate exercising authority with respect to prohibited transaction exemptions to which this subpart applies. (d) Exemption transaction means the transaction or transactions for which an exemption is requested. (e) An individual exemption is an administrative exemption, granted under section 408(a) of ERISA, section 4975(c)(2) of the Code, and/or 5 U.S.C. 8477(c)(3), which applies only to the specific parties in interest named or otherwise defined in the exemption. (f) A party in interest means a person described in section 3(14) of ERISA or 5 U.S.C. 8477(a)(4) and includes a disqualified person, as defined in section 4975(e)(2) of the Code. (g) Pooled fund means an account or fund for the collective investment of the assets of two or more unrelated plans, including (but not limited to) a pooled separate account maintained by an insurance company and a common or collective trust fund maintained by a bank or similar financial institution.
Title 29: Labor
PART 2570—PROCEDURAL REGULATIONS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
Subpart B—Procedures for Filing and Processing Prohibited Transaction Exemption Applications
§ 2570.31 Definitions.
