[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: 31CFR537.201]

[Page 676]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 537--BURMESE SANCTIONS REGULATIONS--Table of Contents
 
                         Subpart B--Prohibitions
 
Sec. 537.201  Prohibited new investment by U.S. persons.


    Except to the extent provided in regulations, orders, directives, or 
licenses that may by issued in conformity with section 570 of the 
Foreign Operations, Export Financing, and Related Programs 
Appropriations Act, 1997 (Public Law 104-208)(the ``Act''), new 
investment in Burma by United States persons is prohibited.
    Note to Sec. 537.201: Section 570 of the Act provides that the 
prohibition contained in this section may be waived, temporarily or 
permanently, by the President if he determines and certifies to Congress 
that the application of this sanction would be contrary to the national 
interests of the United States. Licenses are thus not available for 
purposes of authorizing transactions prohibited under this section in 
the absence of such a waiver determination and certification to 
Congress.