[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: 31CFR537.405]



[Page 176]

 

                  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. 537.405  Investments in entities involved in economic development 

projects in Burma.



    (a) The purchase of shares in a third-country company that is 

engaged in the economic development of resources located in Burma is 

prohibited by Sec. 537.201 where the company's profits are 

predominantly derived from the company's economic development of 

resources located in Burma.

    (b) If a U.S. person holds shares in an entity which subsequently 

engages exclusively or predominantly in the economic development of 

resources located in Burma or subsequently derives its income 

exclusively or predominantly from such economic development, the United 

States person is not required to relinquish its shares, but may not 

purchase additional shares. Divestment of the shares in such an entity 

to a foreign person -- constituting the facilitation of that foreign 

person's investment in Burma -- is authorized under general license 

pursuant to Sec. 537.504.