[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: 31CFR550.414]

[Page 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. 550.414  Exports of Libyan-titled goods.

    (a) The prohibitions contained in Sec. 550.209 shall apply to any 
goods in the possession or control of a U.S. person if the Government of 
Libya had title to such property as of 4:10 p.m. e.s.t., on January 8, 
1986, or acquired title after such time.
    (b) Section 550.209 does not prohibit the export to Libya of the 
goods described in paragraph (a) of this section if such export is 
either not prohibited by Sec. 550.202 or permitted by an authorization 
or license issued pursuant to this part.
    (c) If the goods described in paragraph (a) of this section are not 
exported as described in paragraph (b) of this section, the property 
shall remain blocked and no change in title or other transaction 
regarding such property is permitted, except pursuant to an 
authorization or license issued pursuant to this part.

[51 FR 2464, Jan. 16, 1986]