[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: 31CFR550.414]



[Page 282]

 

                  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. 550.414  Exports of Libyan-titled goods.



    (a) The prohibitions contained in Sec. 550.209 shall apply to any 

goods in the possession or control of a U.S. person if the Government of 

Libya had title to such property as of 4:10 p.m. e.s.t., on January 8, 

1986, or acquired title after such time.

    (b) Section 550.209 does not prohibit the export to Libya of the 

goods described in paragraph (a) of this section if such export is 

either not prohibited by Sec. 550.202 or permitted by an authorization 

or license issued pursuant to this part.

    (c) If the goods described in paragraph (a) of this section are not 

exported as described in paragraph (b) of this section, the property 

shall remain blocked and no change in title or other transaction 

regarding such property is permitted, except pursuant to an 

authorization or license issued pursuant to this part.



[51 FR 2464, Jan. 16, 1986]