[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: 31CFR537.201]



[Page 173]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 537_BURMESE SANCTIONS REGULATIONS--Table of Contents

 

                         Subpart B_Prohibitions

 

Sec. 537.201  Prohibited new investment by U.S. persons.





    Except to the extent provided in regulations, orders, directives, or 

licenses that may by issued in conformity with section 570 of the 

Foreign Operations, Export Financing, and Related Programs 

Appropriations Act, 1997 (Public Law 104-208)(the ``Act''), new 

investment in Burma by United States persons is prohibited.



    Note to Sec. 537.201: Section 570 of the Act provides that the 

prohibition contained in this section may be waived, temporarily or 

permanently, by the President if he determines and certifies to Congress 

that the application of this sanction would be contrary to the national 

interests of the United States. Licenses are thus not available for 

purposes of authorizing transactions prohibited under this section in 

the absence of such a waiver determination and certification to 

Congress.