[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR515.303]

[Page 584-585]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 515--CUBAN ASSETS CONTROL REGULATIONS--Table of Contents
 
                     Subpart C--General Definitions
 
Sec. 515.303  Nationals of more than one foreign country.

    (a) Any person who by virtue of any provision in this chapter is a 
national of more than one foreign country shall be deemed to be a 
national of each of such foreign countries.
    (b) In any case in which a person is a national of two or more 
designated foreign countries, as defined in this chapter, a license or 
authorization with respect to nationals of one of such designated 
foreign countries shall not be deemed to apply to such person unless a 
license or authorization of equal or greater scope is outstanding with 
respect to nationals of each other designated foreign country of which 
such person is a national.

[[Page 585]]

    (c) In any case in which the combined interests of two or more 
designated foreign countries, as defined in this chapter, and/or 
nationals thereof are sufficient in the aggregate to constitute control 
or ownership of 25 per centum 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.