[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: 31CFR550.101] [Page 755-757] TITLE 31--MONEY AND FINANCE: TREASURY CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY PART 550_LIBYAN SANCTIONS REGULATIONS--Table of Contents Subpart A_Relation of This Part to Other Laws and Regulations Sec. 550.101 Relation of this part to other laws and regulations. Subpart A_Relation of This Part to Other Laws and Regulations Sec. 550.101 Relation of this part to other laws and regulations. Subpart B_Prohibitions 550.201 Prohibited imports of goods or services from Libya. 550.202 Prohibited exports of goods, technology or services to Libya. 550.203 Prohibited transportation-related transactions. 550.204 Prohibited purchases of goods from Libya. 550.205 Prohibited engagement in contracts. 550.206 Prohibited grants or extensions of credits or loans. 550.207 Prohibited transactions relating to travel to Libya or to activities within Libya. 550.208 Evasions. 550.209 Prohibited transactions involving property in which the Government of Libya has an interest; transactions with respect to securities. 550.210 Effect of transfers violating the provisions of this part. 550.212 Holding of certain types of blocked property in interest-bearing accounts. Subpart C_Definitions 550.301 Effective date. 550.302 Libya; Libyan. 550.303 Libyan origin. 550.304 Government of Libya. 550.305 Libyan person. 550.306 Person. 550.307 United States. 550.308 United States person. 550.309 License. 550.310 General license. 550.311 Specific license. 550.312 Credits or loans. 550.313 Transfer. 550.314 Property; property interests. 550.315 Interest. 550.316 Blocked account; blocked property. 550.317 Domestic bank. 550.318 Entity. 550.319 Entity of the Government of Libya; Libyan entity. 550.320 Banking institution. Subpart D_Interpretations 550.401 Reference to amended sections. 550.402 Effect of amendment of sections of this part or of other orders, etc. 550.403 Extensions of credits or loans to Libya. 550.404 Import and export of goods in transit before the effective date. 550.405 Transactions incidental to a licensed transaction authorized. 550.406 Offshore transactions. 550.407 Transshipment through the United States prohibited. 550.408 Imports from third countries; transshipments. 550.409 Exports to third countries; transshipment. 550.410 Release from bonded warehouse or foreign trade zone. 550.411 Publications. 550.412 Termination and acquisition of an interest of the Government of Libya. 550.413 Payments to Libya prohibited. 550.414 Exports of Libyan-titled goods. 550.415 Advance payments. 550.416 Imports of Libyan goods and purchases of goods from Libya. 550.417 Letters of credit. 550.418 Payments from blocked accounts for U.S. exporters and other obligations prohibited. 550.419 Acquisition of instruments, including bankers' acceptances. [[Page 756]] 550.420 Indirect payments to the Government of Libya. 550.421 Setoffs prohibited. 550.422 Exportation of services; performance of service contracts; legal services. Subpart E_Licenses, Authorizations, and Statements of Licensing Policy 550.500 Licensing procedures. 550.501 Effect of license or authorization. 550.502 Exclusion from licenses and authorizations. 550.503 Imports pursuant to Executive Order 12538. 550.504 Certain exports authorized. 550.505 Certain imports for diplomatic or official personnel authorized. 550.506 Certain services relating to participation in various events authorized. 550.507 Import of publications authorized. 550.508 Import of certain gifts authorized. 550.509 Import of accompanied baggage authorized. 550.510 Telecommunications and mail transactions authorized. 550.511 Payments and transfers to blocked accounts in domestic banks. 550.512 Payment of certain checks and drafts and documentary letters of credit. 550.513 Completion of certain securities transactions. 550.515 [Reserved] 550.517 Exportation of certain legal services to the Government of, or persons in, Libya. 550.520 Entries in certain accounts for normal service charges. 550.560 Transactions related to travel to, and residence within, Libya by immediate family members of Libyan nationals. 550.568 Certain standby letters of credit and performance bonds. 550.569 Commercial sales and exportation of agricultural commodities, medicine, and medical devices. 550.570 [Reserved] 550.571 Payment for and financing of exports of agricultural commodities, medicine, and medical equipment. 550.572 Brokering sales of agricultural commodities, medicine, and medical devices. 550.573 Travel transactions in connection with the exportation of agricultural commodities, medicine, and medical devices. Subpart F_Reports 550.601 Records and reports. Subpart G_Penalties 550.701 Penalties. 550.702 Detention of shipments. 550.703 Prepenalty notice. 550.704 Presentation responding to prepenalty notice. 550.705 Penalty notice. 550.706 Referral to United States Department of Justice. Subpart H_Procedures 550.801 Procedures. 550.802 Delegation by the Secretary of the Treasury. 550.803 Customs procedures: Merchandise specified in Sec. 550.201. Subpart I_Miscellaneous 550.901 Paperwork Reduction Act notice. Appendix A to Part 550--Bulk Agricultural Commodities Appendix B to Part 550--Eligible Procurement Bodies Authority: 3 U.S.C. 301; 18 U.S.C. 2339B, 2332d; 22 U.S.C. 287c, 2349aa-8 and 2349aa-9; 31 U.S.C. 321(b); 49 U.S.C. 40106(b); 50 U.S.C. 1601-1651, 1701-1706; Pub. L. 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); Pub. L. 106-387, 114 Stat. 1549; E.O. 12543, 51 FR 875; 3 CFR, 1986 Comp., p. 181; E.O. 12544, 51 FR 1235, 3 CFR, 1986 Comp., p. 183; E.O. 12801, 57 FR 14319 3 CFR, 1992 Comp., p. 294. Source: 51 FR 1354, Jan. 10, 1986, unless otherwise noted. (a) This part is separate from, and independent of, the other parts of this chapter with the exception of part 501 of this chapter, the recordkeeping and reporting requirements and license application and other procedures of which apply to this part. No license or authorization contained in or issued pursuant to those other parts authorizes any transaction prohibited by this part. In addition, licenses or authorizations contained in or issued pursuant to any other provision of law or regulations do not authorize any transaction prohibited by this part. (b) No license or authorization contained in or issued pursuant to this part relieves the involved parties from complying with any other applicable laws or regulations. In particular, no license or authorization contained in or issued pursuant to this part authorizes the importation of petroleum products which would be banned by Presidential Proclamation 5141 of December [[Page 757]] 22, 1983 or Executive Order 12538 of November 15, 1985. [51 FR 1354, Jan. 10, 1986, as amended at 62 FR 45108, Aug. 25, 1997]