Page:United States Statutes at Large Volume 112 Part 1.djvu/719

 PUBLIC LAW 105-206—JULY 22, 1998 112 STAT. 693 "(II) a person shall not be subject to the restrictions of subsection (a)(2) thereof for sharing such compensation with such individual. "(D) WAIVER. —The President may, only at the time the President nominates the member of the Oversight Board described in paragraph (1)(D), waive for the term of the member any appropriate provision of chapter 11 of title 18, United States Code, to the extent such waiver is necessary to allow such member to participate in the decisions of the Board while continuing to serve as a fulltime Federal employee or a representative of employees. Any such waiver shall not be effective unless a written intent of waiver to exempt such member (and actual waiver language) is submitted to the Senate with the nomination of such member. "(4) QUORUM.— Five members of the Oversight Board shall constitute a quorum. A majority of members present and voting shall be required for the Oversight Board to take action. "(5) REMOVAL.— "(A) IN GENERAL. — Any member of the Oversight Board appointed under subparagraph (A) or (D) of paragraph (1) may be removed at the will of the President. "(B) SECRETARY AND COMMISSIONER.— An individual described in subparagraph (B) or (C) of paragraph (1) shall be removed upon termination of service in the office described in such subparagraph. "(6) CLAIMS.— "(A) IN GENERAL. — Members of the Oversight Board who are described in subparagraph (A) or (D) of paragraph (1) shall have no personal liability under Federal law with respect to any claim arising out of or resulting from an act or omission by such member within the scope of service as a member. "(B) EFFECT ON OTHER LAW.— This paragraph shall not be construed— "(i) to affect any other immunities and protections that may be available to such member under applicable law with respect to such transactions; "(ii) to affect any other right or remedy against the United States under applicable law; or "(iii) to limit or alter in any way the immunities that are available under applicable law for Federal officers and employees. "(c) GENERAL RESPONSIBILITIES. — "(1) OVERSIGHT.— "(A) IN GENERAL.— The Oversight Board shall oversee the Internal Revenue Service in its administration, management, conduct, direction, and supervision of the execution and application of the internal revenue laws or related statutes and tax conventions to which the United States is a party. "(B) MISSION OF IRS.— As part of its oversight functions described in subparagraph (A), the Oversight Board shall ensure that the organization and operation of the Internal Revenue Service allows it to carry out its mission.

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