[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: 31CFR537.504]



[Page 179]

 

                  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 E_Licenses, Authorizations, and Statements of Licensing Policy

 

Sec. 537.504  Divestiture of U.S. person's equity investment in Burma.



    Notwithstanding the prohibition in Sec. 537.202 against the 

facilitation by a U.S. person of a foreign person's investment, all 

transactions related to the divestiture or transfer to a foreign person 

of a U.S. person's share of ownership including an equity interest in 

the economic development of resources located in Burma are authorized. 

U.S. persons participating in such transactions valued at more than 

$10,000 are required, within 10 business days after the agreement is 

signed, to file a report for statistical purposes with the Office of 

Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania 

Avenue NW.--Annex, Washington, DC 20220.



    Note to Sec. 537.504: This authorization includes arrangements by 

U.S. persons with pre-effective date investments in Burma to ``farm in'' 

or sell a stake in the investment to a foreign person. For purposes of 

this section, the term farm-in arrangement is defined to mean the sale 

of an equity interest in an investment in the economic development of 

resources located in Burma.