[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: 31CFR586.409]

[Page 865]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 586--FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA & MONTENEGRO) KOSOVO SANCTIONS REGULATIONS--Table of Contents
 
                       Subpart D--Interpretations
 
Sec. 586.409  Approval or other facilitation of other persons' investment in the territory of the Republic of Serbia.

    (a) The prohibition contained in Sec. 586.204 against approval or 
other facilitation by U.S. persons of other persons' investment in the 
territory of the Republic of Serbia bars any action by a U.S. person 
that assists or supports other persons' activity that would constitute 
prohibited new investment under that section if engaged in by a U.S. 
person. Such approval or other facilitation with respect to persons 
whose property or interests in property are blocked pursuant to 
Sec. 586.201 also constitutes a violation of that section. See the 
definition of the term new investment in Sec. 586.312.
    (b) Examples: (1) A U.S. person is prohibited from brokering, 
financing, guaranteeing, or approving the purchase by any other person, 
including a foreign affiliate, of shares, including an equity interest, 
in a publicly or privately held undertaking, entity or project located 
in the territory of the Republic of Serbia, except as provided in 
Sec. 586.514.
    (2) The sale to a non-U.S. person of a U.S. person's equity or 
income interest in an entity in the territory of the Republic of Serbia 
constitutes facilitation of that other person's investment in Serbia, 
and would otherwise be prohibited but for the authorization contained in 
Sec. 586.514.
    (3) A U.S. national or permanent resident alien employed by a 
foreign person may not participate in any decision-making role in an 
activity by the foreign person that includes investment in the territory 
of the Republic of Serbia.