[Code of Federal Regulations] [Title 5, Volume 1, Parts 1 to 699] [Revised as of January 1, 2001] From the U.S. Government Printing Office via GPO Access [CITE: 5CFR550.142] [Page 500-501] TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT PART 550--PAY ADMINISTRATION (GENERAL)--Table of Contents Subpart A--Premium Pay Sec. 550.142 General restrictions. An agency may pay premium pay under Sec. 550.141 only if that premium pay, over a period appropriate to reflect the full cycle of the employee's duties and the full range of conditions in his position, would be: (a) More than the premium pay which would otherwise be payable under this subpart for the hours of actual work customarily required in his position, excluding standby time during which he performs no work; and (b) Less than the premium pay which would otherwise be payable under this subpart for the hours of duty required [[Page 501]] in his position, including standby time during which he performs no work.