[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: 31CFR542.403]



[Page 245]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 542_SYRIAN SANCTIONS REGULATIONS--Table of Contents

 

                        Subpart D_Interpretations

 

Sec. 542.403  Termination and acquisition of an interest in blocked 

property.



    (a) Whenever a transaction licensed or authorized by or pursuant to 

this part results in the transfer of property (including any property 

interest) away from a person, such property shall no longer be deemed to 

be property blocked pursuant to Sec. 542.201(a), unless there exists in 

the property another interest that is blocked pursuant to Sec. 

542.201(a) or any other part of this chapter, the transfer of which has 

not been effected pursuant to license or other authorization.

    (b) Unless otherwise specifically provided in a license or 

authorization issued pursuant to this part, if property (including any 

property interest) is transferred or attempted to be transferred to a 

person whose property or interests in property are blocked pursuant to 

Sec. 542.201(a), such property shall be deemed to be property in which 

that person has an interest and therefore blocked.