[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: 31CFR585.403]

[Page 840]
 
                  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 D--Interpretations
 
Sec. 585.403  Termination and acquisition of an interest in blocked property.

    (a) Whenever a transaction licenced or authorized by or pursuant to 
this part results in the transfer of property (including any property 
interest) from a person whose property or property interests are blocked 
pursuant to Sec. 585.201, such property shall no longer be deemed to be 
property blocked pursuant to Sec. 585.201, unless there exists in the 
property another interest that is blocked pursuant to Sec. 585.201 or 
any other part of this chapter, the transfer of which has not been 
effected pursuant to license or other authorization.
    (b) Unless otherwise specifically provided in a license or 
authorization issued pursuant to this part, if property (including any 
property interest) is transferred or attempted to be transferred to a 
person whose property or property interests are blocked pursuant to 
Sec. 585.201, such property shall be deemed to be property in which that 
person has an interest and therefore blocked.

[60 FR 34146, June 30, 1995]