[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: 31CFR550.101]



[Page 274]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 550_LIBYAN SANCTIONS REGULATIONS--Table of Contents

 

      Subpart A_Relation of This Part to Other Laws and Regulations

 

Sec. 550.101  Relation of this part to other laws and regulations.





    (a) This part is separate from, and independent of, the other parts 

of this chapter with the exception of part 501 of this chapter, the 

recordkeeping and reporting requirements and license application and 

other procedures of which apply to this part. No license or 

authorization contained in or issued pursuant to those other parts 

authorizes any transaction prohibited by this part. In addition, 

licenses or authorizations contained in or issued pursuant to any other 

provision of law or regulations do not authorize any transaction 

prohibited by this part.

    (b) No license or authorization contained in or issued pursuant to 

this part relieves the involved parties from complying with any other 

applicable laws or regulations. In particular, no license or 

authorization contained in or issued pursuant to this part authorizes 

the importation of petroleum products which would be banned by 

Presidential Proclamation 5141 of December 22, 1983 or Executive Order 

12538 of November 15, 1985.



[51 FR 1354, Jan. 10, 1986, as amended at 62 FR 45108, Aug. 25, 1997]