(a) The purpose of the Office of Environmental Quality Management Fund is to finance:

(1) Study contracts that the Office of Environmental Quality and at least one other Federal agency jointly sponsor; and

(2) Federal interagency environmental projects (including task forces) in which the Office of Environmental Quality participates.

(b) The purpose of the regulations in this part is to set forth policies and procedures for operation of the Management Fund, in order to support its effective administration and to set forth the Office of Environmental Quality's internal procedures and practices with respect to the Management Fund.