[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR535.221]

[Page 656-657]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 535_IRANIAN ASSETS CONTROL REGULATIONS--Table of Contents
 
                         Subpart B_Prohibitions
 
Sec. 535.221  Compliance with directive provisions.

    (a) Transfers of deposits or funds required by Sec. Sec. 535.213 
and 535.214 of this part shall be effected by means of wire transfer to 
the Federal Reserve Bank of New York for credit to the following 
accounts: with respect to transfers required by Sec. 535.213, to the 
Federal Reserve Bank of New York, as fiscal agent of the United States, 
Special Deposit Account A, and with respect to transfers required by 
Sec. 535.214, to the Federal Reserve Bank of New York, as fiscal agent 
of the United States, Special Deposit Account B.
    (b) Securities to be transferred as required by Sec. Sec. 535.213 
and 535.214 of this part that are not presently registered in the name 
of Iran or an Iranian entity shall be delivered to the Federal Reserve 
Bank of New York in fully transferable form (bearer or endorsed in 
blank), accompanied by all necessary transfer documentation, e.g., stock 
or bond powers or powers of attorney. All securities transferred, 
including those presently registered in the name of Iran or an Iranian 
entity, shall be accompanied by instructions to deposit such securities 
to the following accounts: with respect to transfers required by Sec. 
535.213, to the Federal Reserve Bank of New York, as fiscal agent of the 
United States, Special Custody Account A, and with respect to transfers 
required by Sec. 535.214, to the Federal Reserve Bank of New York, as 
fiscal agent of the United States, Special Custody Account B.
    (1) Securities which are in book-entry form shall be transferred by 
wire transfer to the Federal Reserve Bank of New York to the appropriate 
account named in this paragraph.
    (2) Definitive securities which are in bearer or registered form 
shall be hand

[[Page 657]]

delivered or forwarded by registered mail, insured, to the Federal 
Reserve Bank of New York, Safekeeping Department, to the appropriate 
account named in this paragraph.
    (c) If a security in which Iran or an Iranian entity has an interest 
is evidenced by a depositary receipt or other evidence of a security, 
the legal owner of such security shall arrange to have the security 
placed in fully transferable form (bearer or endorsed in blank) as 
provided in paragraph (b) of this section, and transferred pursuant to 
paragraph (b)(2) of this section.
    (d) Any person delivering a security or securities to the Federal 
Reserve Bank of New York under paragraph (b) of this section, shall 
provide the Bank at least 2 business days prior written notice of such 
delivery, specifically identifying the sending person, the face or par 
amount and type of security, and whether the security is in bearer, 
registered or book-entry form.

(Secs. 201-207, 91 Stat. 1626, 50 U.S.C. 1701-1706; E.O. 12170, 44 FR 
65729; E.O. 12205, 45 FR 24099; E.O. 12211, 45 FR 26685; E.O. 12276, 46 
FR 7913; E.O. 12279, 46 FR 7919; E.O. 12280, 46 FR 7921; E.O. 12281, 46 
FR 7923; E.O. 12282, 46 FR 7925; E.O. 12283, 46 FR 7927, and E.O. 12294, 
46 FR 14111)

[46 FR 30341, June 8, 1981]