[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: 31CFR537.404]

[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. 537.404  Purchase of shares in economic development projects in Burma.

    The purchase of shares, including an equity interest, in the 
economic development of resources located in Burma, is prohibited when 
those shares are purchased after the effective date directly or 
indirectly from the Government of Burma or a nongovernmental entity in 
Burma, unless purchased pursuant to an agreement entered into prior to 
May 21, 1997. U.S. persons may purchase debt instruments issued by the 
Government of Burma or a nongovernmental entity in Burma, directly or 
indirectly, provided that such instruments are not convertible into 
equity, and do not provide for participation, including as collateral or 
security, in royalties, earnings, or profits in the economic development 
of resources located in Burma.