Section 19.120 - May we grant an exception to let an excluded person participate in a covered transaction?(a) The Secretary of the Treasury may grant an exception permitting an excluded person to participate in a particular covered transaction. If the Secretary of the Treasury grants an exception, the exception must be in writing and state the reason(s) for deviating from the governmentwide policy in Executive Order 12549.(b) An exception granted by one agency for an excluded person does not extend to the covered transactions of another agency.