[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: 31CFR585.216]

[Page 836]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
     PART 585--FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) AND BOSNIAN SERB-CONTROLLED AREAS OF THE REPUBLIC OF BOSNIA AND HERZEGOVINA SANCTIONS 
REGULATIONS--Table of Contents
 
                         Subpart B--Prohibitions
 
Sec. 585.216  Expenses of maintaining blocked property; liquidation into blocked account.

    (a) Except as otherwise authorized, and notwithstanding the 
existence of any rights or obligations conferred or imposed by any 
international agreement or any contract entered into or any license or 
permit granted before 12:01 a.m. EDT, April 26, 1993, all expenses 
incident to the blocking and maintenance of property blocked pursuant to 
Sec. 585.201 or Sec. 585.215(a) shall be charged to the owners or 
operators of such property, which expenses shall not be met from blocked 
funds.
    (b) Property blocked pursuant to Sec. 585.201 or Sec. 585.215 may, 
in the discretion of the Director, Office of Foreign Assets Control, be 
sold or liquidated and the net proceeds shall be placed in a blocked 
interest-bearing account in the name of the owner of the property.

[58 FR 35829, July 1, 1993]