Disclosed is an improved reel assembly for use in conjunction with an occupant restraint system. The assembly employs a dual locking arrangement whereby an occupant can be restrained during both major and minor incidents. After a major incident, the reel assembly remains locked until the occupant disengages the reel via a push button. After a minor incident, the reel assembly can be conveniently unlocked, without the need for accessing the push button, by applying counter tension to the webbing.