[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: 31CFR537.403]



[Page 175]

 

                  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 D_Interpretations

 

Sec. 537.403  Economic development of resources located in Burma.



    The term economic development of resources located in Burma refers 

to activities pursuant to a contract the subject of which includes 

responsibility for the development or exploitation of resources located 

in Burma, including making or attempting to make those resources 

accessible or available for exploitation or economic use. Examples 

include contracts conferring rights to explore for, develop, extract, or 

refine petroleum, natural gas, or minerals in the ground in Burma; 

contracts to take over a mining operation in Burma; acquire a forest or 

agricultural area and exploit the timber or other crops; or acquire land 

and construct and run a hotel or factory on it. The term economic 

development of resources located in Burma is defined in Sec. 537.301 

specifically to exclude contracts for not-for-profit educational, health 

or other humanitarian programs or activities. See also Sec. 537.204 for 

the exception that applies to the entry into, performance of, or 

financing of a contract to sell or purchase goods, services or 

technology.



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