[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: 31CFR537.403]

[Page 678]
 
                  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 D--Interpretations
 
Sec. 537.403  Economic development of resources located in Burma.

    The term economic development of resources located in Burma refers 
to activities pursuant to a contract the subject of which includes 
responsibility for the development or exploitation of resources located 
in Burma, including making or attempting to make those resources 
accessible or available for exploitation or economic use. Examples 
include contracts conferring rights to explore for, develop, extract, or 
refine petroleum, natural gas, or minerals in the ground in Burma; 
contracts to take over a mining operation in Burma; acquire a forest or 
agricultural area and exploit the timber or other crops; or acquire land 
and construct and run a hotel or factory on it. The term economic 
development of resources located in Burma is defined in Sec. 537.301 
specifically to exclude contracts for not-for-profit educational, health 
or other humanitarian programs or activities. See also Sec. 537.204 for 
the exception that applies to the entry into, performance of, or 
financing of a contract to sell or purchase goods, services or 
technology.