[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: 31CFR592.201]

[Page 923-924]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 592_ROUGH DIAMONDS CONTROL REGULATIONS--Table of Contents
 
                         Subpart B_Prohibitions
 
Sec. 592.201  Prohibited importation and exportation of any rough diamond; 
permitted importation or exportation of any rough diamond.


    (a) Except to the extent provided in paragraph (b) of this section, 
and notwithstanding the existence of any

[[Page 924]]

rights or obligations conferred or imposed by any contract entered into 
or any license or permit granted prior to the effective date, the 
importation into, or exportation from, the United States on or after 
July 30, 2003, of any rough diamond, from whatever source, is 
prohibited, unless the rough diamond has been controlled through the 
Kimberley Process Certification Scheme.
    (b) The prohibitions in paragraph (a) of this section regarding the 
importation into, or exportation from, the United States of any rough 
diamond not controlled through the Kimberley Process Certification 
Scheme do not apply to an importation from, or exportation to, any 
country with respect to which the Secretary of State has granted a 
waiver pursuant to section 4(b) of the Clean Diamond Trade Act (Pub. L. 
108-19) and section 2(a)(1) of Executive Order 13312.

    Note to Sec. 592.201. An importation of any rough diamond from, or 
an exportation of any rough diamond to, a non-Participant is not 
controlled through the Kimberley Process Certification Scheme and thus 
is not permitted except in the following circumstance. The Secretary of 
State may, pursuant to section 4(b) of the Clean Diamond Trade Act, 
waive the prohibitions contained in section 4(a) of that Act with 
respect to a particular country for periods of not more than one year 
each. The Secretary of State will publish a notice in the Federal 
Register identifying any country with respect to which a waiver applies 
and specifying the relevant time period during which the waiver will 
apply.