[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: 31CFR550.405]



[Page 280]

 

                  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 D_Interpretations

 

Sec. 550.405  Transactions incidental to a licensed transaction 

authorized.



    Any transaction ordinarily incident to a licensed transaction and 

necessary to give effect thereto is also authorized, except:

    (a) A transaction by an unlicensed Libyan governmental entity or 

involving a debit to a blocked account or a transfer of blocked property 

not explicitly authorized within the terms of the license;

    (b) Provision of any transportation services to or from Libya not 

explicitly authorized in or pursuant to this part other than loading, 

transporting, and discharging licensed or exempt cargo there.

    (c) Distribution or leasing in Libya of any containers or similar 

goods owned or controlled by United States persons after the performance 

of transportation services to Libya; and

    (d) Financing of licensed sales for exportation or reexportation of 

agricultural commodities or products, medicine or medical equipment to 

Libya or the Government of Libya. See Sec. 550.571.



[64 FR 41789, Aug. 2, 1999, as amended at 66 FR 36690, July 12, 2001]