[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: 31CFR535.221]



[Page 144]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 535_IRANIAN ASSETS CONTROL REGULATIONS--Table of Contents

 

                         Subpart B_Prohibitions

 

Sec. 535.221  Compliance with directive provisions.



    (a) Transfers of deposits or funds required by Sec. Sec. 535.213 

and 535.214 of this part shall be effected by means of wire transfer to 

the Federal Reserve Bank of New York for credit to the following 

accounts: with respect to transfers required by Sec. 535.213, to the 

Federal Reserve Bank of New York, as fiscal agent of the United States, 

Special Deposit Account A, and with respect to transfers required by 

Sec. 535.214, to the Federal Reserve Bank of New York, as fiscal agent 

of the United States, Special Deposit Account B.

    (b) Securities to be transferred as required by Sec. Sec. 535.213 

and 535.214 of this part that are not presently registered in the name 

of Iran or an Iranian entity shall be delivered to the Federal Reserve 

Bank of New York in fully transferable form (bearer or endorsed in 

blank), accompanied by all necessary transfer documentation, e.g., stock 

or bond powers or powers of attorney. All securities transferred, 

including those presently registered in the name of Iran or an Iranian 

entity, shall be accompanied by instructions to deposit such securities 

to the following accounts: with respect to transfers required by Sec. 

535.213, to the Federal Reserve Bank of New York, as fiscal agent of the 

United States, Special Custody Account A, and with respect to transfers 

required by Sec. 535.214, to the Federal Reserve Bank of New York, as 

fiscal agent of the United States, Special Custody Account B.

    (1) Securities which are in book-entry form shall be transferred by 

wire transfer to the Federal Reserve Bank of New York to the appropriate 

account named in this paragraph.

    (2) Definitive securities which are in bearer or registered form 

shall be hand delivered or forwarded by registered mail, insured, to the 

Federal Reserve Bank of New York, Safekeeping Department, to the 

appropriate account named in this paragraph.

    (c) If a security in which Iran or an Iranian entity has an interest 

is evidenced by a depositary receipt or other evidence of a security, 

the legal owner of such security shall arrange to have the security 

placed in fully transferable form (bearer or endorsed in blank) as 

provided in paragraph (b) of this section, and transferred pursuant to 

paragraph (b)(2) of this section.

    (d) Any person delivering a security or securities to the Federal 

Reserve Bank of New York under paragraph (b) of this section, shall 

provide the Bank at least 2 business days prior written notice of such 

delivery, specifically identifying the sending person, the face or par 

amount and type of security, and whether the security is in bearer, 

registered or book-entry form.



(Secs. 201-207, 91 Stat. 1626, 50 U.S.C. 1701-1706; E.O. 12170, 44 FR 

65729; E.O. 12205, 45 FR 24099; E.O. 12211, 45 FR 26685; E.O. 12276, 46 

FR 7913; E.O. 12279, 46 FR 7919; E.O. 12280, 46 FR 7921; E.O. 12281, 46 

FR 7923; E.O. 12282, 46 FR 7925; E.O. 12283, 46 FR 7927, and E.O. 12294, 

46 FR 14111)



[46 FR 30341, June 8, 1981]