[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: 31CFR550.209]



[Page 275]

 

                  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 B_Prohibitions

 

Sec. 550.209  Prohibited transactions involving property in which the 

Government of Libya has an interest; transactions with respect to securities.



    (a) Except as authorized by regulations, rulings, instructions, 

licenses, or otherwise, no property or interests in property of the 

Government of Libya that are in the United States that hereafter come 

within the United States or that are or hearafter come within the 

possession or control of U.S. persons, including their overseas 

branches, may be transferred, paid, exported, withdrawn or otherwise 

dealt in.

    (b) Unless authorized by a license expressly referring to this 

section, the acquisition, transfer (including the transfer on the books 

of any issuer or agent thereof), disposition, transportation, 

importation, exportation, or withdrawal of, or the endorsement or 

guaranty of signatures on or otherwise dealing in any security (or 

evidence thereof) registered or inscribed in the name of the Government 

of Libya is prohibited irrespective of the fact that at any time (either 

prior to, on, or subsequent to 4:10 p.m. e.s.t., January 8, 1986) the 

registered or inscribed owner thereof may have, or appears to have, 

assigned, transferred or otherwise disposed of any such security.

    (c) When a transaction results in the blocking of funds at a 

financial institution pursuant to this section and a party to the 

transaction believes the funds have been blocked due to mistaken 

identity, that party may seek to have such funds unblocked pursuant to 

the administrative procedures set forth in Sec. 501.806 of this 

chapter.



[51 FR 2462, Jan. 16, 1986, as amended at 62 FR 45108, Aug. 25, 1997]