[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: 31CFR536.403]



[Page 167]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 536_NARCOTICS TRAFFICKING SANCTIONS REGULATIONS--Table of Contents

 

                        Subpart D_Interpretations

 

Sec. 536.403  Termination and acquisition of an interest in blocked 

property.



    (a) Whenever a transaction licensed or authorized by or pursuant to 

this part results in the transfer of property (including any property 

interest) away from a specially designated narcotics trafficker, such 

property shall no longer be deemed to be property in which a specially 

designated narcotics trafficker has or has had an interest, or which is 

held in the name of a specially designated narcotics trafficker, unless 

there exists in the property another interest of a specially designated 

narcotics trafficker, the transfer of which has not been effected 

pursuant to license or other authorization.

    (b) Unless otherwise specifically provided in a license or 

authorization issued pursuant to this part, if property (including any 

property interest) is transferred or attempted to be transferred to a 

specially designated narcotics trafficker, such property shall be deemed 

to be property in which there exists an interest of the specially 

designated narcotics trafficker.