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transfer are germane to those performed before such 
transfer. 
(d) TRANSFER OF PERSONNEL, ASSETS, OBLIGA-
TIONS, AND FUNCTIONS.—Upon the transfer of an agency 
to the Corporation under section 603— 
(1) the personnel, assets, and obligations held 
by or available in connection with the agency shall 
be transferred to the Corporation for appropriate al-
location, subject to the approval of the Director of 
the Office of Management and Budget and in ac-
cordance with section 1531(a)(2) of title 31, United 
States Code; and 
(2) the Corporation shall have all functions— 
(A) relating to the agency that any other 
official could by law exercise in relation to the 
agency immediately before such transfer; and 
(B) vested in the Corporation by this Act 
or other law. 
SEC. 606. SAVINGS PROVISIONS. 
(a) COMPLETED ADMINISTRATIVE ACTIONS.— 
(1) IN
GENERAL.—Completed administrative 
actions of an agency shall not be affected by the en-
actment of this Act or the transfer of such agency 
to the Corporation under section 603, but shall con-
tinue in effect according to their terms until amend-
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ed, modified, superseded, terminated, set aside, or 
revoked in accordance with law by an officer of the 
United States or a court of competent jurisdiction, 
or by operation of law. 
(2) COMPLETED ADMINISTRATIVE ACTION DE-
FINED.—In this subsection, the term ‘‘completed ad-
ministrative action’’ includes orders, determinations, 
rules, regulations, personnel actions, permits, agree-
ments, grants, contracts, certificates, policies, li-
censes, registrations, and privileges. 
(b) PENDING PROCEEDINGS.— 
(1) IN GENERAL.—Pending proceedings in an 
agency, including notices of proposed rulemaking, 
and applications for licenses, permits, certificates, 
grants, and financial assistance, shall continue not-
withstanding the enactment of this Act or the trans-
fer of the agency to the Corporation, unless discon-
tinued or modified under the same terms and condi-
tions and to the same extent that such discontinu-
ance could have occurred if such enactment or trans-
fer had not occurred. 
(2) ORDERS.—Orders issued in proceedings de-
scribed in paragraph (1), and appeals therefrom, 
and payments made pursuant to such orders, shall 
issue in the same manner and on the same terms as 
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if this Act had not been enacted or the agency had 
not been transferred, and any such orders shall con-
tinue in effect until amended, modified, superseded, 
terminated, set aside, or revoked by an officer of the 
United States or a court of competent jurisdiction, 
or by operation of law. 
(c) PENDING CIVIL ACTIONS.—Pending civil actions 
shall continue notwithstanding the enactment of this Act 
or the transfer of an agency to the Corporation, and in 
such civil actions, proceedings shall be had, appeals taken, 
and judgments rendered and enforced in the same manner 
and with the same effect as if such enactment or transfer 
had not occurred. 
(d) REFERENCES.—References relating to an agency 
that is transferred to the Corporation under section 603 
in statutes, Executive orders, rules, regulations, directives, 
or delegations of authority that precede such transfer or 
the date of the enactment of this Act shall be deemed to 
refer, as appropriate, to the Corporation, to its officers, 
employees, or agents, or to its corresponding organiza-
tional units or functions. Statutory reporting requirements 
that applied in relation to such an agency immediately be-
fore the effective date of this Act shall continue to apply 
following such transfer if they refer to the agency by 
name. 
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(e) EMPLOYMENT PROVISIONS.— 
(1) REGULATIONS.—The Corporation may, in 
regulations prescribed jointly with the Director of 
the Office of Personnel Management, adopt the 
rules, procedures, terms, and conditions, established 
by statute, rule, or regulation before the date of the 
enactment of this Act, relating to employment in any 
agency transferred to the Corporation under section 
603. 
(2) EFFECT OF TRANSFER ON CONDITIONS OF 
EMPLOYMENT.—Except as otherwise provided in this 
Act, or under authority granted by this Act, the 
transfer pursuant to this title of personnel shall not 
alter the terms and conditions of employment, in-
cluding compensation, of any employee so trans-
ferred. 
(f) STATUTORY REPORTING REQUIREMENTS.—Any 
statutory reporting requirement that applied to an agency 
transferred to the Corporation under this title immediately 
before the date of the enactment of this Act shall continue 
to apply following that transfer if the statutory require-
ment refers to the agency by name. 
SEC. 607. OTHER TERMINATIONS. 
Except as otherwise provided in this Act, whenever 
all the functions vested by law in any agency have been 
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transferred pursuant to this title, each position and office 
the incumbent of which was authorized to receive com-
pensation at the rates prescribed for an office or position 
at level II, III, IV, or V of the Executive Schedule under 
subchapter II of chapter 53 of title 5, United States Code, 
shall terminate. 
SEC. 608. INCIDENTAL TRANSFERS. 
The Director of the Office of Management and Budg-
et, in consultation with the Corporation, is authorized and 
directed to make such additional incidental dispositions of 
personnel, assets, and liabilities held, used, arising from, 
available, or to be made available, in connection with the 
functions transferred by this title, as the Director may de-
termine necessary to accomplish the purposes of this Act. 
SEC. 609. REFERENCE. 
With respect to any function transferred under this 
title (including under a reorganization plan under section 
602) and exercised on or after the date of the enactment 
of this Act, reference in any other Federal law to any de-
partment, commission, or agency or any officer or office 
the functions of which are so transferred shall be deemed 
to refer to the Corporation or official or component of the 
Corporation to which that function is so transferred. 
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