106 STAT. 3952

PUBLIC LAW 102-550—OCT. 28, 1992

of title 5, United States Code, may accept compensation from an
enterprise during the 2-year period beginning on the date of separa-
tion from employment by the Office.

12 USC 4524. SEC. 1319B. AUDITS BY GAO.

The Comptroller General shall audit the operations of the Office
in accordance with generally accepted Government auditing stand-
ards. All books, records, accounts, reports, files, and property
belonging to, or used by, the Office shall be made available to
the Comptroller General. Audits under this section shall be con-
ducted annually for the first 2 fiscal years following the date of
the enactment of this Act and as appropriate thereafter.

12 USC 4525. SEC. 1319F. INFORMATION, RECORDS, AND MEETINGS.

For purposes of subchapter II of chapter 5 of title 5, United
States Code-
CD the Office, and

(2) the Department of Housing and Urban Development,
with respect to activities under this title,

shall be considered agencies responsible for the regulation or super-
vision of financial institutions.

12 USC 4526. SEC. 1319G. REGULATIONS AND ORDERS.

(a) AUTHORITY.—The Director shall issue any regulations and
orders necessary to carry out the duties of the Director and to
carry out this title before the expiration of the 18-month period
beginning on the appointment of the Director under section 1312.
Such regulations and orders shall be subject to the approval of
the Secretary only to the extent provided in subsections (b) and
(c) of section 1313.

(b) NOTICE AND COMMENT.—Any regulations issued by the
Director under this section shall be issued after notice and oppor-
tunity for public comment pursuant to the provisions of section
553 of title 5, United States Code.

(c) CONGRESSIONAL REVIEW.—The Director may not publish
any regulation for comment under subsection (b) unless, not less
than 15 days before it is published for comment, the Director
has submitted a copy of the regulation, in the form it is intended
to be proposed, to the Committee on Banking, Finance and Urban
Affairs of the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs of the Senate.

PART 2—AUTHORITY OF SECRETARY
Subpart A—General Authority

12 USC 4541. SEC. 1321. REGULATORY AUTHORITY.

Except for the authority of the Director of the Office of Federal
Housing Enterprise Oversight described in section 1313(b) and all
other matters relating to the safety and soundness of the enter-
prises, the Secretary of Housing and Urban Development shall
have general regulatory power over each enterprise ana shall make
such rules and regulations as shall be necessary and proper to
ensure that this part and the purposes of the Federal National
Mortgage Association Charter Act and the Federal Home Loan
Mortgage Corporation Act are accomplished.