[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: 31CFR500.403]



[Page 19]

 

                  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 D_Interpretations

 

Sec. 500.403  Termination and acquisition of the interest of a 

designated national.



    (a) Except as provided in Sec. 500.525, whenever a transaction 

licensed or authorized by or pursuant to this chapter results in the 

transfer of property (including any property interest) away from a 

designated national, such property shall no longer be deemed to be 

property in which a designated national has or has had an interest 

unless there exists in such property an interest of a designated 

national, the transfer of which has not been effected pursuant to 

license or other authorization.

    (b) Unless otherwise specifically provided in a license or 

authorization contained in or issued pursuant to this chapter, if 

property (including any property interest) is transferred to a 

designated national such property shall be deemed to be property in 

which there exists the interest of a designated national.