[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: 31CFR550.412]

[Page 764-765]
 
                  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 D_Interpretations
 
Sec. 550.412  Termination and acquisition of an interest of the Government 
of Libya.

    (a) Whenever a transaction licensed or authorized by or pursuant to 
this part results in the transfer of property (including any property 
interest) away from the Government of Libya, such property shall no 
longer be deemed to be property in which the Government of Libya has or 
has had an interest unless there exists in the property another such 
interest the transfer of which has not been effected pursuant to license 
or other authorization.
    (b) Unless otherwise specifically provided in a license or 
authorization

[[Page 765]]

issued pursuant to this part, if property (including any property 
interest) is transferred to the Government of Libya, such property shall 
be deemed to be property in which there exists an interest of the 
Government of Libya.

[51 FR 2464, Jan. 16, 1986]