« PreviousContinue »
CHAPTER V-OFFICE OF FOREIGN ASSETS CONTROL,
DEPARTMENT OF THE TREASURY
Part 500 505
515 520 530
Foreign Assets Control Regulations.
merchandise between foreign countries.
PART 500_FOREIGN ASSETS CON
TROL REGULATIONS Subpart A-Relation of This Chapter to Other
Laws and Regulations Sec. 500.101 Relation of this chapter to other
laws and regulations including 8 CFR Ch. II.
Subpart B— Prohibitions 500.201 Transactions involving designated
foreign countries or their nation
als; effective date. 500.202 Transactions with respect to securi
ties registered or inscribed in the
name of a designated national. 500.203 Effect of transfers violating the pro
visions of this chapter. 500.204 Importation of and dealings in cer
Subpart C-General Definitions 500.301 Foreign country. 500.302 National. 500.303 Nationals of more than one foreign
country. 500.304 [Reserved 500.305 Designated national. 500.306 Specially designated national. 500.307 Unblocked national. 500.308 Person. 500.309 Transactions. 500.310 Transfer. 500.311 Property; property interests. 500.312 Interest.
Sec. 500.313 Property subject to the jurisdiction
of the United States. 500.314 Banking institution. 500.315 [Reserved] 500.316 License. 500.317 General license. 500.318 Specific license. 500.319 Blocked account. 500.320 Domestic bank. 500.321 United States; continental United
States. 500.322 Authorized trade territory; member
of the authorized trade territory. 500.323 Occupied area. 500.324 (Reserved] 500.325 National securities exchange. 500.326 Custody of safe deposit boxes. 500.327 Blocked estate of a decedent. 500.328 Status of the recognized Govern.
ments of China, Korea and VietNam and of the diplomatic and consular representatives of China,
Korea and Viet-Nam. 500.329 Person subject to the jurisdiction
of the United States. 500.330 Person within the United States. 500.331 Merchandise.
Subpart D-Interpretations 500.401 Reference to amended sections. 500.402 Effect of amendment of sections of
this chapter or of other orders,
etc. 500.403 Termination and acquisition of the
interest of a designated national, 500.404 Transactions between principal and
1 29 F.R. 3425, Mar. 17, 1964.
Sec. 500.405 Exportation of securities, etc. to
designated foreign countries. 500.406 Drafts under irrevocable letters of
credit; documentary drafts. 500.407 Administration of blocked estates
of decedants. 500.408 Access to certain safe deposit boxes
prohibited. 500.409 Certain payments to designated for
eign countries and nationals
through third countries. Subpart Licenses and Authorizations 500.501 (Reserved) 500.502 Effect of subsequent license or au
thorization. 500.503 Exclusion from licenses and au
thorizations. 500.504 Certain judicial proceedings with
respect to property of designated
nationals. 500.505 Certain persons in the United
States unblocked. 500.506 Certain persons in authorized trade
territory unblocked. 500.507 Individuals who are citizens of, and
residing only in the United
States, unblocked. 500.508 Payments to blocked accounts in
domestic banks. Entries in certain accounts for nor.
mal service charges. 500.510 Payments to the United States,
States and political subdivisions. 500.511 Transactions by certain business
enterprises. 500.512 [Reserved) 500.513 Purchase and sale of certain securi.
ties. 500.514 Payments of dividends and interest
on and redemption and collection
of securities. 500.515 Transfers of securities to blocked
accounts in domestic banks. 500.516 Voting and soliciting of proxies on
securities. 500.517 Access to safe deposit boxes under
certain conditions. 500.518 Payments for living, traveling, and
similar personal expenses in the
United States. 500.519 Limited payments from accounts of
United States citizens abroad. 500.520 Payments from accounts of United
States citizens in employ of
and certain other persons. 500.521 Certain remittances for necessary
living expenses. 500.522 Certain remittances to United States
citizens in foreign countries. 500.523 Transactions incident to the admin
istration of decedents' estates. 500.524 Payment from, and transactions in
the administration of certain
trusts and estates. 500.525 Certain transfers by operation of
Sec. 500.526 Transactions involving blocked life
insurance policies. 500.527 Certain transactions with respect to
United States patents, trade
marks, and copyrights. 500.528 Certain transactions with respect to
blocked foreign patents, trade
marks and copyrights authorized. 500.529 Powers of attorney. 500.530 Exportation of powers of attorney
or instructions relating to certain
types of transactions. 500.531 (Reserved] 500.532 [Reserved 500.533 Transactions incident to exporta
tions to designated countries. 500.534 (Reserved] 500.535 Exchange of certain securities. 500.536 Certain transactions with respect
to merchandise affected by
$ 500.204, 500.537 (Reserved) 500.538 Transportation and insurance of
certain merchandise. 500.539 Certain transactions with respect to
hog bristles. 500.540 (Reserved] 500.541 Certain transactions by persons in
foreign countries. 500.543 Technical data. 500.544 [Reserved] 500.545 Certain transactions incident to
travel to and in mainland China. 500.546 Current transactions with China
and its nationals authorized. 500.547 Transactions involving mainland
Chinese merchandise authorized.
Subpart Reports 500.601 Records. 500.602 Reports to be furnished on demand. 500.610 Reports on Form TFR-610.
Subpart G-Penalties 500.701 Penalties.
Subpart H/Procedures 500.801 Licensing. 500.802 Unblocking. 500.803 Decision. 500.804 Records and reporting. 500.805 Amendment, modification, or rev
ocation. 500.806 Rule making. 500.807 Delegation by the Secretary of the
Treasury. 500.808 Customs procedures; merchandise
specified in $ 500.204. 500.809 Rules governing avallability of in
formation. AUTHORITY: The provisions of this part 500 issued under sec: 5, 40 Stat. 415, as amended; 50 U.S.C. App. 5, E.O. 9193, 7 F.R. 5205, 3 CFR 1943 Cum. Supp., E.O. 9989, 13 FR. 4891, 3 CFR, 1943–1948 Comp.
SOURCE: The provisions of this part 500 appear at 15 F.R. 9040, Dec. 19, 1950, unless otherwise noted.
Subpart A-Relation of This Chapter
to Other Laws and Regulations $ 500.101 Relation of this chapter to
other laws and regulations including
8 CFR Ch. II. (a) This chapter is independent of 8 CFR Ch. II. The prohibitions contained in this chapter are in addition to the prohibitions contained in 8 CFR Ch. II. No license or authorization contained in or issued pursuant to 8 CFR Ch. II shall be deemed to authorize any transaction prohibited by this chapter, nor shall any license or authorization issued pursuant to any other provision of law (except this chapter) be deemed to authorize any transaction so prohibited.
(b) No license or authorization contained in or issued pursuant to this chapter shall be deemed to authorize any transaction to the extent that it is prohibited by reason of the provisions of any law or statute other than Section 5(b) of the Trading with the Enemy Act, as amended, or any proclamation, order or regulation other than those contained in or issued pursuant to this chapter or pursuant to section 620(a) of the Foreign Assistance Act of 1961. (15 F.R. 9040, Dec. 19, 1950, as amended at 27 F.R. 1116, Feb. 7, 1962]
Subpart B-Prohibitions ✓ $ 500.201 Transactions involving desig.
nated foreign countries or their na
tionals; effective date. (a) All of the following transactions are prohibited, except as specifically authorized by the Secretary of the Treasury (or any person, agency, or instrumentality designated by him) by means of regulations, rulings, instructions, licenses, or otherwise, if either such transactions are by, or on behalf of, or pursuant to the direction of any designated foreign country, or any national thereof, or such transactions involve property in which any designated foreign country, or any national thereof, has at any time on or since the effective date of this section had any interest of any nature whatsoever, direct or indirect:
(1) All transfers of credit and all payments between, by, through, or to any banking institution or banking institutions wheresoever located, with respect to any property subject to the jurisdic
tion of the United States or by any person (including a banking institution) subject to the jurisdiction of the United States;
(2) All transactions in foreign exchange by any person within the United States; and
(3) The exportation or withdrawal from the United States of gold or silver coin or bullion, currency or securities, or the earmarking of any such property, by any person within the United States.
(b) All of the following transactions are prohibited, except as specifically authorized by the Secretary of the Treasury (or any person, agency, or instrumentality designated by him) by means of regulations, rulings, instructions, licenses, or otherwise, if such transactions involve property in which any designated foreign country, or any national thereof, has at any time on or since the effective date of this section had any interest of any nature whatsoever, direct or indirect:
(1) All dealings in, including, without limitation, transfers, withdrawals, or exportations of, any property or evidences of indebtedness or evidences of ownership of property by any person subject to the jurisdiction of the United States; and
(2) All transfers outside the United States with regard to any property or property interest subject to the jurisdiction of the United States.
(c) Any transaction for the purpose or which has the effect of evading or avoiding any of the prohibitions set forth in paragraphs (a) or (b) of this section is hereby prohibited.
(d) The term "designated foreign country” means a foreign country in the following schedule and the term "effective date" and the term "effective date of this section" mean with respect to any designated foreign country, or any national thereof, 12:01 a.m., eastern standard time of the date specified in the following schedule:
COUNTRY AND EFFECTIVE DATE
1. China: December 17, 1950.
2. North Korea, 1.e., Korea north of the 38th parallel of north latitude: December 17, 1950.
3. North Viet-Nam, 1.e, Viet-Nam north of the 17th parallel of north latitude: May 5, 1964.
With respect to any country and for any the provisions of section 5(b) of the other purpose for which an “effective date" is
Trading With the Enemy Act, as not otherwise provided the "effective date"
amended, and this chapter and any rulshall be December 17, 1950.
ing, order, regulation, direction or in(15 F.R. 9040, Dec. 19, 1950, as amended at
struction issued thereunder. 18 F.R. 2079, Apr. 14, 1953; 29 F.R. 6010, May
(d) Transfers of property which 7, 1964]
otherwise would be null and void, or $ 500.202 Transactions with respect to unenforceable, by virtue of the provi
securities registered or inscribed in sions of this section shall not be deemed the name of a designated national.
to be null and void, or unenforceable Unless authorized by a license ex pursuant to such provisions, as to any pressly referring to this section, the ac person with whom such property was quisition, transfer (including the transfer held or maintained (and as to such peron the books of any issuer or agent there
son only) in cases in which such person of), disposition, transportation, importa
is able to establish each of the following: tion, exportation, or withdrawal of, or (1) Such transfer did not represent a the endorsement or guaranty of signa willful violation of the provisions of this tures on, or otherwise dealing in any se chapter by the person with whom such curity (or evidence thereof) registered or
property was held or maintained; inscribed in the name of any designated
(2) The person with whom such propnational is prohibited irrespective of the
erty was held or maintained did not fact that at any time (either prior to, on
have reasonable cause to know or susor subsequent to the “effective date”) the pect, in view of all the facts and circumregistered or inscribed owner thereof may
stances known or available to such perhave, or appears to have, assigned, trans son, that such transfer required a license ferred or otherwise disposed of any such
or authorization by or pursuant to the security.
provisions of this chapter and was not
so licensed or authorized or if a license $ 500.203 Effect of transfers violating
or authorization did purport to cover the the provisions of this chapter.
transfer, that such license or authoriza(a) Any transfer after the “effective tion had been obtained by misrepresendate” which is in violation of any provi tation or the withholding of material sion of this chapter or of any regulation, facts or was otherwise fraudulently obruling, instruction, license, or other di- tained; and rection or authorization thereunder and (3) Promptly upon discovery that: involves any property in which a desig (i) Such transfer was in violation of nated national has or has had an interest the provisions of this chapter or any since such "effective date" is null and regulation, ruling, instruction, license or void and shall not be the basis for the as other direction or authorization theresertion or recognition of any interest in under, or or right, remedy, power or privilege with (ii) Such transfer was not licensed or respect to such property.
authorized by the Secretary of the (b) No transfer before the “effective Treasury, or date" shall be the basis for the assertion (iii) If a license did purport to cover or recognition of any right, remedy, the transfer, such license had been obpower, or privilege with respect to, or tained by misrepresentation or the interest in, any property in which a withholding of material facts or was designated national has or has had an otherwise fraudulently obtained; interest since the "effective date" unless
the person with whom such property the person with whom such property is
was held or maintained filed with the held or maintained had written notice
Treasury Department, Washington, D.C. of the transfer or by any written evidence had recognized such transfer prior
20220, a report in triplicate setting forth to such "effective date."
in full the circumstances relating to such (c) Unless otherwise provided, an ap
transfer. The filing of a report in acpropriate license or other authorization
cordance with the provisions of this issued by or pursuant to the direction
paragraph shall not be deemed to be or authorization of the Secretary of the compliance or evidence of compliance Treasury before, during or after a trans with paragraph (d) (1) and (2) of this fer shall validate such transfer or ren- section. der it enforceable to the same extent as (e) Unless licensed or authorized by it would be valid or enforceable but for $ 500.504 or otherwise licensed or au
thorized pursuant to this chapter any blending; (xix) flavoring; (xx) preservattachment, judgment, decree, lien, exe ing; (xxi) pickling; (xxii) smoking; cution, garnishment, or other judicial (xxiii) dressing; (xxiv) salting; (XXV) process is null and void with respect to dyeing; (xxvi) bleaching; (xxvii) tanany property in which on or since the ning; (xxviii) packing; (xxix) canning; “effective date” there existed the inter (xxx) labeling; (xxxi) carding; (xxxii) est of a designated foreign country or combing; (xxxiii) pressing; (xxxiv) any national thereof.
process similar to any of the foregoing. (f) For the purpose of this section the
Any article wheresoever manufactured term "property” includes gold, silver,
shall be deemed for the purposes of this bullion, currency, coin, credit, securities
chapter to be merchandise whose coun(as that term is defined in section 2 (1) of the Securities Act of 1933, as
try of origin is China (except Formosa), amended), bills of exchange, notes,
North Korea, or North Viet-Nam, if there drafts, acceptances, checks, letters of
shall have been added to such articles credit, book credits, debts, claims, con
any embroidery, needle point, petit point, tracts, negotiable documents of title, lace or any other article of adornment mortgages, liens, annuities, insurance which is the product of China (except policies, options and futures in commod Formosa), North Korea, or North Vietities, and evidences of any of the fore Nam notwithstanding that such addition going. The term “property” shall not, to the merchandise may have occurred except to the extent indicated, be deemed, in a country other than China (except to include chattels or real property. Formosa), North Korea, or North Viet$ 500.204. Importation of and dealings Nam. in certain merchandise.
(2) Merchandise specified in this sub(a) Except as specifically authorized
paragraph, howsoever processed, unless by the Secretary of the Treasury (or any such merchandise originated in a counperson, agency, or instrumentality desig try named as excepted for that type of nated by him) by means of regulations, merchandise and is imported into the or rulings, instructions, licenses, or other- United States directly from that country: wise, persons subject to the jurisdiction
Excepted of the United States may not purchase,
Type of merchandise countries transport, import, or otherwise deal in
(1) All merchandise, None. or engage in any transaction with respect
not elsewhere specito any merchandise outside the United
fied in this paraStates specified in following subpara
graph, if prior to Degraph (1) of this paragraph, and they cember 17, 1950, immay not import into the United States ports thereof into the merchandise specified in following sub
United States were paragraphs (2), (3), or (4) of this
chiefly of Chinese
origin within the paragraph: (1) Merchandise the country of origin
meaning of this
chapter, and, of which is China (except Formosa),
(11) All of the following North Korea, or North Viet-Nam. Arti
specified types of cles which are the growth, produce or
merchandise: manufacture of these areas shall be Aniseed, star-------- None. deemed for the purposes of this chapter
None. to be merchandise whose country of Antiques, Chinese None. origin is China (except Formosa), North
type (except ChiKorea, or North Viet-Nam, notwith
nese porcelain standing that they may have been sub
which qualified un
der items 766.20-25 jected to one or any combination of the
of Title 1-Tariff following processes in another country:
Schedules of the (i) Grading; (ii) testing; (iii) checking;
United States, Tar(iv) shredding; (v) slicing; (vi) peeling
iff Act of 1930, as or splitting; (vii) scraping; (viii) clean
a mended, and ing; (ix) washing; (x) soaking; (xi)
which is decorated
with the armorial drying; (xii) cooling, chilling, or refrig
bearing, crests, erating; (xiii) roasting; (xiv) steaming;
monograms, cy(XV) cooking; (xvi) curing; (xvii) com
phers, or badges of bining of fur skins into plates; (xviii)
European or Amer