85.115—How does an exclusion restrict a person's involvement in covered transactions?
         With the exceptions stated in  §§ 85.120, 85.315, and 85.420, a person who is excluded by the Department of Education or any other Federal agency may not:
    
    
        
        (a) 
         Be a participant in a(n) ED transaction that is a covered transaction under subpart B of this part;
    
    
        
        (b) 
         Be a participant in a transaction of any other Federal agency that is a covered transaction under that agency's regulation for debarment and suspension; or