[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR500.303]



[Page 15]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

 

PART 500_FOREIGN ASSETS CONTROL REGULATIONS--Table of Contents

 

                      Subpart C_General Definitions

 

Sec. 500.303  Nationals of more than one foreign country.



    (a) Any person who by virtue of any provision in this chapter is a 

national of more than one foreign country shall be deemed to be a 

national of each of such foreign countries.

    (b) In any case in which a person is a national of two or more 

designated foreign countries, a license or authorization with respect to 

nationals of one of such designated foreign countries shall not be 

deemed to apply to such person unless a license or authorization of 

equal or greater scope is outstanding with respect to nationals of each 

other designated foreign country of which such person is a national.

    (c) In any case in which the combined interests of two or more 

designated foreign countries and/or nationals thereof are sufficient in 

the aggregate to constitute control or ownership of 25 per centum or 

more of the stock, shares, bonds, debentures, notes, drafts, or other 

securities or obligations of a partnership, association, corporation or 

other organization, but such control or a substantial part of such 

stock, shares, bonds, debentures, notes, drafts, or other securities or 

obligations is not held by any one such foreign country and/or national 

thereof, such partnership, association, corporation or other 

organization shall be deemed to be a national of each of such foreign 

countries.