29 CFR 453.1 : Labor (§ 0.735-1 To Parts 4908-4999) — (§ 100.101 To Parts 472-499) — Regulations Relating To Labor (§ 100.101 To Parts 472-499) — Office Of Labor-Management Standards, Department Of Labor (Part 400 To Parts 472-499) — Labor-Management Standards (Part 400 To § 453.26) — General Statement Concerning The Bonding Requirements Of The Labor-Management Reporting And Disclosure Act Of 1959 (§ 453.1 To § 453.26) — Introduction (§ 453.1) — Scope and significance of this part.

(a) Functions of the Department of Labor. This part discusses the meaning and scope of section 502 of the Labor-Management Reporting and Disclosure Act of 1959

(b) Purpose and effect of interpretations. Interpretations of the Director with respect to the bonding provisions are set forth in this part to provide those affected by these provisions of the Act with “a practical guide * * * as to how the office representing the public interest in its enforcement will seek to apply it.”

(c) Earlier interpretations superseded. To the extent that prior opinions and interpretations under the Act, relating to the bonding of certain officials, representatives, and employees of labor organizations and of trusts in which labor organizations are interested, are inconsistent or in conflict with the principles stated in this part, they are hereby rescinded and withdrawn.