[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: 31CFR537.504]

[Page 681]
 
                  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 E--Licenses, Authorizations, and Statements of Licensing Policy
 
Sec. 537.504  Divestiture of U.S. person's equity investment in Burma.

    Notwithstanding the prohibition in Sec. 537.202 against the 
facilitation by a U.S. person of a foreign person's investment, all 
transactions related to the divestiture or transfer to a foreign person 
of a U.S. person's share of ownership including an equity interest in 
the economic development of resources located in Burma are authorized. 
U.S. persons participating in such transactions valued at more than 
$10,000 are required, within 10 business days after the agreement is 
signed, to file a report for statistical purposes with the Office of 
Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania 
Avenue NW.--Annex, Washington, DC 20220.
    Note to Sec. 537.504: This authorization includes arrangements by 
U.S. persons with pre-effective date investments in Burma to ``farm in'' 
or sell a stake in the investment to a foreign person. For purposes of 
this section, the term farm-in arrangement is defined to mean the sale 
of an equity interest in an investment in the economic development of 
resources located in Burma.