[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: 31CFR536.702]



[Page 171]

 

                  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 G_Penalties

 

Sec. 536.702  Prepenalty notice.



    (a) When required. If the Director of the Office of Foreign Assets 

Control has reasonable cause to believe that there has occurred a 

violation of any provision of this part or a violation of the provisions 

of any license, ruling, regulation, order, direction or instruction 

issued by or pursuant to the direction or authorization of the Secretary 

of the Treasury pursuant to this part or otherwise under the 

International Emergency Economic Powers Act, and the Director determines 

that further proceedings are warranted, he shall issue to the person 

concerned a notice of his intent to impose a monetary penalty. The 

prepenalty notice may be issued whether or not another agency has taken 

any action with respect to this matter.

    (b) Contents--(1) Facts of violation. The prepenalty notice shall 

describe the violation, specify the laws and regulations allegedly 

violated, and state the amount of the proposed monetary penalty.

    (2) Right to respond. The prepenalty notice also shall inform the 

respondent of respondent's right to respond to the notice within 30 days 

of its mailing as to why a monetary penalty should not be imposed, or, 

if imposed, why it should be in a lesser amount than proposed.