As used in this part, the term:
(a) Corresponding principal officers means any person or persons
performing or authorized to perform, principal executive functions
corresponding to those of president and treasurer of any entity engaged
in whole or in part in the performance of the activities described in
section 203(b) of the Labor-Management Reporting and Disclosure Act of
1959.
(b) Fiscal year means the calendar year or other period of 12
consecutive calendar months, on the basis of which financial accounts
are kept by a person. Where a person designates a new fiscal year prior
to the expiration of a previously established fiscal year period, the
resultant period of less than 12 consecutive calendar months, and
thereafter the newly established fiscal year, shall in that order
constitute the fiscal years.
(c) Undertake means not only the performing of activities, but also
the agreeing to perform them or to have them performed.
(d) A direct or indirect party to an agreement or arrangement
includes persons who have secured the services of another or of others
in connection with an agreement or arrangement of the type referred to
in Sec. 406.2 as well as persons who have undertaken activities at the
behest of another or of others with knowledge or reason to believe that
they are undertaken as a result of an agreement or arrangement between
an employer and any other person, except bona fide regular officers,
supervisors or employees of their employer to the extent to which they
undertook to perform services as such bona fide regular officers,
supervisors or employees of their employer.
[28 FR 14385, Dec. 27, 1963, as amended at 42 FR 59070, Nov. 15, 1977;
63 FR 33779, June 19, 1998]
