; or (2) the date of enactment of this Act. 5. Trusts for legislative branch of Government (a) In general Consistent with section 7, on a case-by-case basis, the Select Committee on Ethics may authorize a covered person to place their securities holdings in a qualified blind trust approved by the committee under section 102(f) of the Ethics in Government Act of 1978 (5 U.S.C. App.). (b) Blind trust Consistent with section 7, a blind trust permitted under this section shall meet the criteria in section 102(f)(4)(B) of the Ethics in Government Act of 1978 (5 U.S.C. App.), unless an alternative arrangement is approved by the Select Committee on Ethics. 6. Administration for legislative branch of Government (a) In general Consistent with section 7, the provisions of this Act shall be administered by the Select Committee on Ethics of the Senate and the Committee on Ethics of the House of Representatives. (b) Guidance Consistent with section 7, the Select Committee on Ethics of the Senate and the Committee on Ethics of the House of Representatives are authorized to issue guidance on any matter contained in this Act, including— (1) whether a covered person or spouse of a covered person may hold an employee stock option, or similar instrument, that had not vested before the date on which the covered person was elected; and (2) the process and timeline for when a covered person or spouse of a covered person shall no longer serve as an officer or member of any board of any for-profit association, corporation, or other entity. 7. Administration for executive and judicial branches of Government With respect to— (1) a covered person who is an officer or employee of the executive branch of the Government, the Director of the Office of Government Ethics shall carry out sections 5 and 6