[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: 31CFR501.602]



[Page 49]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 501_REPORTING, PROCEDURES AND PENALTIES REGULATIONS--Table of 

Contents

 

                            Subpart C_Reports

 

Sec. 501.602  Reports to be furnished on demand.



    Every person is required to furnish under oath, in the form of 

reports or otherwise, from time to time and at any time as may be 

required by the Director, Office of Foreign Assets Control, complete 

information relative to any transaction, regardless of whether such 

transaction is effected pursuant to license or otherwise, subject to the 

provisions of this chapter or relative to any property in which any 

foreign country or any national thereof has any interest of any nature 

whatsoever, direct or indirect. The Director may require that such 

reports include the production of any books of account, contracts, 

letters or other papers connected with any such transaction or property, 

in the custody or control of the persons required to make such reports. 

Reports with respect to transactions may be required either before or 

after such transactions are completed. Except as provided in parts 596 

and 597, the Director may, through any person or agency, conduct 

investigations, hold hearings, administer oaths, examine witnesses, 

receive evidence, take depositions, and require by subpoena the 

attendance and testimony of witnesses and the production of all books, 

papers, and documents relating to any matter under investigation, 

regardless of whether any report has been required or filed in 

connection therewith.



    Note: See subpart F of part 597 for the relationship between this 

section and part 597.



[62 FR 45101, Aug. 25, 1997, as amended at 62 FR 52494, Oct. 8, 1997]



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