[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: 31CFR595.702]

[Page 954]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 595_TERRORISM SANCTIONS REGULATIONS--Table of Contents
 
                           Subpart G_Penalties
 
Sec. 595.702  Prepenalty notice.

    (a) When required. If the Director of the Office of Foreign Assets 
Control has reasonable cause to believe that there has occurred a 
violation of any provision of this part or a violation of the provisions 
of any license, ruling, regulation, order, direction or instruction 
issued by or pursuant to the direction or authorization of the Secretary 
of the Treasury pursuant to this part or otherwise under the 
International Emergency Economic Powers Act, and the Director determines 
that further proceedings are warranted, he shall issue to the person 
concerned a notice of his intent to impose a monetary penalty. The 
prepenalty notice shall be issued whether or not another agency has 
taken any action with respect to this matter.
    (b) Contents--(1) Facts of violation. The prepenalty notice shall 
describe the violation, specify the laws and regulations allegedly 
violated, and state the amount of the proposed monetary penalty.
    (2) Right to make presentation. The prepenalty notice also shall 
inform the person of his right to make a written presentation within 30 
days of mailing of the notice as to why a monetary penalty should not be 
imposed, or, if imposed, why it should be in a lesser amount than 
proposed.