[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: 31CFR595.704]

[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. 595.704  Penalty notice.

    (a) No violation. If, after considering any presentations made in 
response to the prepenalty notice and any relevant facts, the Director 
of the Office of Foreign Assets Control determines that there was no 
violation by the person named in the prepenalty notice, he promptly 
shall notify the person in writing of that determination and that no 
monetary penalty will be imposed.
    (b) Violation. If, after considering any presentations made in 
response to the prepenalty notice, the Director of the Office of Foreign 
Assets Control determines that there was a violation by the person named 
in the prepenalty notice, he promptly shall issue a written notice of 
the imposition of the monetary penalty to that person.