[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: 31CFR575.403]



[Page 340]

 

                  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 D_Interpretations

 

Sec. 575.403  Termination and acquisition of an interest of the 

Government of Iraq.



    (a) Whenever a transaction licensed or authorized by or pursuant to 

this part results in the transfer of property (including any property 

interest) from the Government of Iraq, such property shall no longer be 

deemed to be property in which the Government of Iraq has or has had an 

interest unless there exists in the property another such interest, the 

transfer of which has not been effected pursuant to license or other 

authorization.

    (b) Unless otherwise specifically provided in a license or 

authorization issued pursuant to this part, if property (including any 

property interest) is transferred or attempted to be transferred to the 

Government of Iraq, such property shall be deemed to be property in 

which there exists an interest of the Government of Iraq.