RESTRICT Act
Current Status
In Committee
Definitions
The definitions here are simplified and rearranged so that no definition uses a term not previously defined.
ICTS products or services - pretty much any hardware or software that works with information or data (2(11))
Entity - practically any organized group, whether inside or outside the US, is covered (2(6))
Holding - includes "any participation, right, or other equivalent, however designated and of any character" (2(9)(A)(viii))
Person - includes only natural persons (i.e. not entities) (2(13))
Secretary - Secretary of Commerce (2(15))
Controlling holding - a holding with the power (even if not exercised) to "decide important matters affecting an entity" (2(2))
Foreign adversary - the governments of China, Cuba, Iran, North Korea, Russia, and Venezuela, as well as any other regime the Secretary may find to be such (2(8))
Covered holding - a controlling holding held by a foreign adversary or an entity subject to its jurisdiction or a holding "the structure of which is designed or intended to evade or circumvent the application of this Act" (9(3))
ICTS covered holding entity- any entity that "owns, controls, or manages" ICTS products or services (2(10)(A)) and:
- has at least a million "United States-based annual active users" at any time during the 12 months before it is referred to the President (2(10)(B)(i)), or
- has sold at least a million units in the US before it is referred to the President (2(10)(B)(ii)).
