[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: 31CFR575.201]



[Page 333]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 575_IRAQI SANCTIONS REGULATIONS--Table of Contents

 

                         Subpart B_Prohibitions

 

Sec. 575.201  Prohibited transactions involving property in which the 





Government of Iraq 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 Iraq that are in the United States, that hereafter come 

within the United States, or that are or hereafter 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branches, may be transferred, paid, exported, withdrawn or otherwise 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 otherwise authorized by this part or by a specific 

license expressly referring to this section, the transfer (including the 

transfer on the books of any issuer or agent thereof), the endorsement 

or guaranty of signatures on, or any other dealing in any security (or 

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

of Iraq and held within the possession or control of a U.S. person is 

prohibited, irrespective of the fact that at any time either at or 

subsequent to the effective date 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.



[56 FR 2113, Jan. 18, 1991, as amended at 62 FR 45109, Aug. 25, 1997]



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