127.17” means with respect to any such foreign country, or any national thereof, the date specified in the following schedule: (a) April 8, 1940 Norway and Denmark; (b) May 10, 1940 The Netherlands, Luxembourg; (c) June 17, 1940 France (including Monaco); (d) July 10, 1940 Latvia, Estonia and (e) October 9, 1940- (f) March 4, 1941Bulgaria; (g) March 13, 1941- (h) March 24, 1941- (1) June 14, 1941 Albania, Czechoslovakia, Danzig, Finland, Germany, Italy, Liechtenstein, Poland, Portugal, San Marino, Spain, Sweden, Switzerland, and Union of Soviet Socialist Republics; (k) June 14, 1941 China and Japan; (1) June 14, 1941 Thailand; (m) June 14, 1941 Hong Kong. The "effective date of §§ 127.9-127.17" with respect to any foreign country not designated in this section shall be deemed to be June 14, 1941. § 127.12 Records and reports. (a) The Secretary of the Treasury and/or the Attorney General may require, by means of regulations, rulings, instructions, or otherwise, any person to keep a full record of and to furnish under oath, in the form of reports or otherwise, from time to time and at any time or times, complete information relative to, any transaction referred to in section 5 (b) of the act of October 6, 1917 (40 Stat. 66-069-72- -8 415), as amended, or relative to any property in which any foreign country or any national thereof has any interest of any nature whatsoever, direct or indirect, including the production of any books of account, contracts, letters, or other papers, in connection therewith, in the custody or control of such person, either before or after such transaction is completed; and the Secretary of the Treasury and/or the Attorney General may, through any agency, investigate any such transaction or act, or any violation of the provisions of §§ 127.9-127.17. (b) Every person engaging in any of the transactions referred to in §§ 127.9 and 127.10 shall keep a full record of each such transaction engaged in by him, regardless of whether such transaction is effected pursuant to license or otherwise, and such record shall be available for examination for at least one year after the date of such transaction. § 127.13 Additional definitions. (a) As used in the first paragraph of § 127.9 "transactions [which] involve property in which any foreign country designated in § 127.11, or any national thereof, has * * * any interest of any nature whatsoever, direct or indirect," shall include, but not by way of limitation (1) any payment or transfer to any such foreign country or national thereof, (2) any export or withdrawal from the United States to such foreign country, and (3) any transfer of credit, or payment of an obligation, expressed in terms of the currency of such foreign country. (b) The term "United States" means the United States and any place subject to the jurisdiction thereof, and the term "continental United States" means the States of the United States, and the District of Columbia: Provided, however, That for the purposes of §§ 127.9 to 127.17, inclusive, the term "United States" shall not be deemed to include any territory included within the term "foreign country" as defined in paragraph (d) of this section. (c) The term "person" means an individual, partnership, association, corporation, or other organization. (d) The term "foreign country" shall include, but not by way of limitation, (1) The state and the government thereof on the effective date of §§ 127.9127.17 as well as any political subdivision, agency, or instrumentality thereof or any territory, dependency, colony, protectorate, mandate, dominion, possession or place subject to the jurisdiction thereof, (2) Any other government (including any political subdivision, agency, or instrumentality thereof) to the extent and only to the extent that such government exercises or claims to exercise de jure or de facto sovereignty over the area which on such effective date constituted such foreign country, and (3) Any territory which on or since the effective date of §§ 127.9 to 127.17, inclusive, is controlled or occupied by the military, naval or police forces or other authority of such foreign country, and (4) Any person to the extent that such person is, or has been, or to the extent that there is reasonable cause to believe that such person is, or has been, since such effective date, acting or purporting to act directly or indirectly for the benefit or on behalf of any of the foregoing. (e) The term "national" shall include, (1) Any person who has been domiciled in, or a subject, citizen or resident of a foreign country at any time on or since the effective date of §§ 127.9-127.17, (2) Any partnership, association, corporation or other organization, organized under the laws of, or which on or since the effective date of §§ 127.9-127.17 had or has had its principal place of business in such foreign country, or which on or since such effective date was or has been controlled by, or a substantial part of the stock, shares, bonds, debentures, notes, drafts, or other securities or obligations of which, was or has been owned or controlled by, directly or indirectly, such foreign country and/or one or more nationals thereof as defined in this section. (3) Any person to the extent that such person is, or has been, since such effective date, acting or purporting to act directly or indirectly for the benefit or on behalf of any national of such foreign country, and (4) Any other person who there is reasonable cause to believe is a "national" as defined in this section. In any case in which by virtue of the foregoing definition a person is a national of more than one foreign country, such person shall be deemed to be a national of each such foreign country. In any case in which the combined interests of two or more foreign countries desig nated in § 127.11 and/or nationals thereof are sufficient in the aggregate to constitute, within the meaning of the foregoing, control or 25 percent or more of the stock, shares, bonds, debentures, notes, drafts, or other securities or obligations of a partnership, association, corporation or other organization, but such control or a substantial part of such stock, shares, bonds, debentures, notes, drafts, or other securities or obligations is not held by any one such foreign country and/or national thereof, such partnership, association, corporation or other organization shall be deemed to be a national of each of such foreign countries. The Secretary of the Treasury shall have full power to determine that any person is or shall be deemed to be a "national" within the meaning of this definition, and the foreign country of which such person is or shall be deemed to be a national. Without limitation of the foregoing, the term "national" shall also include any other person who is determined by the Secretary of the Treasury to be, or to have been, since such effective date, acting or purporting to act directly or indirectly for the benefit or under the direction of a foreign country designated in § 127.11 or national thereof, as defined in this section. (f) The term "banking institution" as used in §§ 127.9-127.17 shall include any person engaged primarily or incidentally in the business of banking, of granting or transferring credits, or of purchasing or selling foreign exchange or procuring purchasers and sellers thereof, as principal or agent, or any person holding credits for others as a direct or incidental part of his business, or brokers; and, each principal, agent, home office, branch or correspondent of any person so engaged shall be regarded as a separate "banking institution”. § 127.14 Executive Order No. 8389 no longer deemed part of Executive Order 6560. Executive Order No. 8389 of April 10, 1940, as amended, shall no longer be deemed to be an amendment to or a part of Executive Order No. 6560 of January 15, 1934 (§§ 127.1-127.9). Executive Order No. 6560 of January 15, 1934, and the regulations of November 12, 1934 (Part 128), are hereby modified in so far as they are inconsistent with the provisions of §§ 127.9-127.17, and except as so modified, continue in full force and effect. Nothing herein shall be deemed to revoke any license, ruling or instruction now in effect and issued pursuant to Executive Order No. 6560 of January 15, 1934, as amended, or pursuant to §§ 127.9-127.17: Provided, however, That all such licenses, rulings, or instructions shall be subject to the provisions hereof. Any amendment, modification or revocation by or pursuant to the provisions of §§ 127.9-127.17 of any orders, regulations, rulings, instructions or licenses shall not affect any act done, or any suit or proceeding had or commenced in any civil or criminal case prior to such amendment, modification or revocation, and all penalties, forefeitures and liabilities under any such orders, regulations, rulings, instructions or licenses shall continue and may be enforced as if such amendment, modification or revocation had not been made. § 127.15 Additional regulations. Without limitations as to any other powers or authority of the Secretary of the Treasury or the Attorney General under any other provisions of §§ 127.9127.17, the Secretary of the Treasury is authorized and empowered to prescribe from time to time regulations, rulings, and instructions to carry out the purposes of §§ 127.9-127.17 and to provide therein or otherwise the conditions under which licenses may be granted by or through such officers or agencies as the Secretary of the Treasury may designate and the decision of the Secretary with respect to the granting, denial or other disposition of an application or license shall be final. § 127.16 Penalties. Section 5(b) of the act of October 6, 1917, as amended, provides in part: *Whoever willfully violates any of the provisions of this subdivision or of any license, order, rule or regulation issued thereunder, shall, upon conviction, be fined not more than $10,000, or, if a natural person, may be imprisoned for not more than ten years, or both; and any officer, director, or agent of any corporation who knowingly participates in such violation may be punished by a like fine, imprisonment, or both. § 127.17 Modification or revocation. Sections 127.9-127.17 and any regulations, rulings, licenses or instructions issued thereunder may be amended, modified or revoked at any time. 128.10 Copies. 128.11 128.12 Supplement to Foreign Exchange Form B-1: "Short-term" dollar liabilities to "foreigners" in countries not listed separately on Form B-1. Foreign Exchange Form B-1: "Shortterm" liabilities to "foreigners." 128.13 Foreign Exchange Form B-2: "Shortterm" claims on "foreigners." 128.14 Foreign Exchange Form B-3: "Longterm" liabilities to, and claims on, "foreigners." 128.15 Foreign Exchange Form C-1/2: Liabilities to, and claims on, "foreigners." 128.16 Foreign Exchange Form C-3: "ShortTerm" liquid claims on "foreigners." 126.16a Foreign Exchange Form C-4: "ShortTerm" liquid claims on "foreigners" in countries not listed separately on Form C-3. 128.17 Foreign Exchange Form S-1: Purchases and sales of "long-term" securties by "foreigners." 128.18 Supplement to Foreign Exchange Form S-1: U.S. Government bonds and notes held for "foreigners." 128.19 Foreign Exchange Form S-2: Purchases and sales of U.S. Government bonds and notes by "foreign official institutions." 128.20 Foreign Exchange Form S-4: Foreign debit and credit balances. 128.21 128.22 128.23 Use of prescribed report forms for portions of data required to be reported thereon. Special survey report forms. Alternative methods of reporting. Appendix-Determinations made by National Advisory Council pursuant to section 2 (a) and (b) of E.O. 10033. AUTHORITY: The provisions of this Part 128 issued under sec. 5, 40 Stat. 415, as amended, sec. 8, 59 Stat. 515; 50 U.S.C. App. 5, 22 U.S.C. 2861, E.O. 6560, Jan. 15, 1934, E.O. 10033, 14 F.R. 561, 3 CFR, 1949-1953 Comp. SOURCE: The provisions of this Part 128 appear at 28 F.R. 4256, Apr. 30, 1963, unless otherwise noted. Licenses may be granted, and a general license is hereby granted, to all individuals, partnerships, associations, and corporations, authorizing any and all transactions in foreign exchange, transfers of credit, and exports of currency (other than gold certificates) and silver coin. The general license granted in this section authorizes transactions to be carried out which are permitted by Executive Order 6560 of January 15, 1934 (Part 127 of this chapter), under license therefor issued pursuant to such Executive order; but does not authorize any transaction to be carried out which, at the time, is prohibited by any other order or by any law, rulings, or regulation. § 128.2 Reports. In order to effectuate the purposes of Executive Order 6560 of January 15, 1934 (Part 127 of this chapter), and in order that information requested by the International Monetary Fund under the Articles of Agreement of the Fund may be obtained in accordance with section 8(a) of the Bretton Woods Agreements Act. (Sec. 8(a) 59 Stat. 515; 22 U.S.C. 286f and Executive Order No. 10033, 14 F.R. 561; 3 CFR, 1949 Supp.), every person subject to the jurisdiction of the United States engaging in any transaction, transfer, export or withdrawal referred to in § 127.1 of this chapter shall furnish to the Federal Reserve bank of the district in which such person has his principal place of business in the United States information relative thereto, including information relative to claims and liabilities arising therefrom, and information determined to be essential to comply with official requests for data made by the International Monetary Fund, to such extent and in such manner and at such intervals as is required by report forms and instructions prescribed by the Secretary of the Treasury. In the event that such person has no principal place of business within a Federal Reserve district, the information shall be furnished directly to the Office of International Affairs, Treasury Department, Washington, D.C. 20220, or to such agency as the Treasury Department may designate. NOTE: The National Advisory Council on International Monetary and Financial Problems created by section 4 of the Bretton Woods Agreements Act (59 Stat. 512; 22 U.S.C. 286b) was abolished, effective July 27, 1965, under Reorganization Plan No. 4 of 1965 pursuant to the Reorganization Act of 1949 and its functions were transferred to the President. Executive Order 11238, July 28, 1965, (1) established a new "National Advisory Council on International Monetary and Financial Problems" with the same membership, functions, and status as the Council established by section 4 of the Bretton Woods Agreements had had immediately prior to the taking effect of Reorganization Plan No. 4 of 1965, and (2) provided that the new Council should terminate on January 1, 1966, or on such earlier date as might be prescribed. Executive Order 11269, February 14, 1966, established, effective January 1, 1966, the "National Advisory Council on International Monetary and Financial Policies" and delegated to it all the functions which had been vested in the President under Reorganization Plan No. 4 of 1965, exclusive of certain functions delegated to the Secretary of the Treasury Section 5 of the Executive Order amended section 2(a) of Executive Order 10033, February 8, 1949, by substituting for the name "National Advisory Council on International Monetary and Financial Problems" the following: "National Advisory Council on International Monetary and Financial Policies." § 128.12 Supplement to Foreign Exchange Form B-1: "Short-term" dollar liabilities to "foreigners" in countries not listed separately on Form B-1. On this form bankers and banking institutions in the United States are required to report twice a year, as of April 30 and December 31, to a Federal Reserve bank "short-term" dollar liabilities to "foreigners" in countries not listed separately on Form B-1. § 128.13 Foreign Exchange Form B-2: "Short-term" claims on "foreigners.” On this form bankers and banking institutions in the United States are required to report monthly to a Federal Reserve bank "short-term" assets owned by the reporter or held for the account of domestic customers which represent claims on "foreigners," as of the last day of business of the month. § 128.14 Foreign Exchange Form B-3: "Long-term" liabilities to, and claims on, "foreigners.” On this form bankers and banking institutions in the United States are required to report monthly to a Federal Reserve bank "long-term" liabilities to, and claims on, "foreigners" acquired or held, either in the United States or abroad, by reporting organizations for their own account or for the account of others, as of the last day of business of the month. § 128.15 Foreign Exchange Form C1/2: Liabilities to, and claims on, "foreigners." On this form exporters, importers, industrial and commercial concerns and other nonbanking institutions in the United States are required to report quarterly, as of the last day of business of the quarter, to a Federal Reserve bank "short-term" and certain other liabilities to and claims on "foreigners" acquired or held, either in the United States or abroad, by reporting organizations for their own account or for the account of others. § 128.16 Foreign Exchange Form C-3: "Short-Term" liquid claims "foreigners". on On this form exporters, importers, industrial and commercial concerns and other nonbanking institutions in the United States are required to report monthly to a Federal Reserve bank data on a portion of their claims on "foreigners," as of the last day of business of the month. [28 F.R. 4256, Apr. 30, 1963, as amended at 34 F.R. 18549, Nov. 21, 1969] § 128.16a Foreign Exchange Form C-4: "Short-Term" liquid claims on "foreigners" in countries not listed separately on Form C-3. On this form reporters on Form C-3 are required to report annually a breakdown by country of the amounts which they reported as of September 30 on Form C-3 on the "All other countries" line. [34 F.R. 18549, Nov. 21, 1969] § 128.17 Foreign Exchange Form S-1: Purchases and sales of "long-term" securities by "foreigners." On this form bankers and banking institutions, brokers and dealers in the United States are required to report monthly to a Federal Reserve bank transactions in "long-term" and certain other securities excluded in the United States for account of "foreigners" and transactions in "long-term" securities executed abroad for their own account and for the account of their domestic customers. § 128.18 Supplement to Foreign Exchange Form S-1: U.S. Government bonds and notes held for "foreigners." On this form bankers and banking institutions, brokers and dealers in the United States are required to report to a Federal Reserve bank, as requested by the Treasury Department, their holdings for the account of "foreigns" of United States Government bonds and notes. § 128.19 Foreign Exchange Form S-2: Purchases and sales of U.S. Government bonds and notes by "foreign official institutions." On this form bankers and banking institutions, brokers and dealers in the United States are required to report monthly to a Federal Reserve bank purchases and sales of United States Government bonds and notes by "foreign official institutions." |