the value of which is significantly based upon a covered defense contractor or an entity in the defense industrial base, including an interest in a hedge fund, a derivative, option, or other complex investment vehicle. (2) Implementation (A) Current members (i) In general Except as provided in clause (ii), an individual who is a Member of Congress on the date of the enactment of this Act, or the spouse or dependent child of such an individual, shall complete the divestment of any asset described in paragraph (1) by not later than 120 days after the date of enactment of this Act. (ii) Certain assets For an asset described in paragraph (1) that is an interest in a hedge fund, venture capital fund, or other privately held complex investment vehicle, an individual who is a Member of Congress on the date of enactment of this Act, or the spouse or dependent child of such an individual, shall complete the divestment of the asset by not later than 180 days after the date of enactment of this Act. (iii) Application This subparagraph shall apply to a covered defense contractor that is performing or has performed a contract for the Department of Defense during the 5-year period preceding the date of the enactment of this Act. (B) New members (i) In general Except as provided in clause (ii), an individual who becomes a Member of Congress after the date of enactment of this Act, or who is the spouse of such an individual, shall complete the divestment of any asset described in paragraph (1) by not later than 120 days after the date on which the individual becomes a Member of Congress. (ii) Certain assets For an asset described in paragraph (1) that is an interest in a hedge fund, venture capital fund, or other privately held complex investment vehicle, an individual who becomes a Member of Congress after the date of enactment of this Act, or who is the spouse or dependent child of such an individual, shall complete the divestment of the asset by not later than 180 days after the date on which the individual becomes a Member