[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: 31CFR515.303]



[Page 93]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 515_CUBAN ASSETS CONTROL REGULATIONS--Table of Contents

 

                      Subpart C_General Definitions

 

Sec. 515.303  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, as defined in this chapter, 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, as defined in this chapter, 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.