[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: 31CFR587.201]



[Page 393-394]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 587_FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) 

MILOSEVIC SANCTIONS REGULATIONS--Table of Contents

 

                         Subpart B_Prohibitions

 

Sec. 587.201  Prohibited transactions involving blocked property.





    (a) Except as authorized by regulations, orders, directives, 

rulings, instructions, licenses or otherwise, and notwithstanding any 

contracts entered into or any license or permit granted prior to the 

effective date, property or interests in property of any person 

designated below 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, are blocked and may not be transferred, paid, exported, 

withdrawn or otherwise dealt in:

    (1) Any person listed in the Annex to Executive Order 13192 of 

January 17, 2001 (66 FR 7379, January 23, 2001); and

    (2) Any person determined by the Secretary of the Treasury, in 

consultation with the Secretary of State:

    (i) To be under open indictment by the International Criminal 

Tribunal for the former Yugoslavia, subject to applicable laws and 

procedures;

    (ii) To have sought, or to be seeking, through repressive measures 

or otherwise, to maintain or reestablish illegitimate control over the 

political processes or institutions or the economic resources or 

enterprises of the Federal Republic of Yugoslavia, the Republic of 

Serbia, the Republic of Montenegro or the territory of Kosovo;



[[Page 394]]



    (iii) To have provided material support or resources to any person 

designated in the Annex to Executive Order 13192 or any person otherwise 

designated by the Secretary of the Treasury pursuant to this section; or

    (iv) To be owned or controlled by or acting or purporting to act 

directly or indirectly for or on behalf of any person designated in the 

Annex to Executive Order 13192 or any person otherwise designated by the 

Secretary of the Treasury pursuant to this section.



    Note to paragraph (a) of Sec. 587.201: Persons designated pursuant 

to Sec. 587.201(a)(1) or (2) are listed with the acronym [FRYM] in 

appendix A to 31 CFR chapter V. Section 501.807 of this chapter V sets 

forth the procedures to be followed by persons seeking administrative 

reconsideration of their designation or who wish to assert that the 

circumstances resulting in designation no longer apply. Similarly, 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 to 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.



    (b) Except as authorized by regulations, orders, directives, 

rulings, instructions, licenses or otherwise, and notwithstanding any 

contracts entered into or any license or permit granted prior to the 

effective date, any transaction or dealing by U.S. persons, wherever 

located, or within the United States in property or interests in 

property of any person designated in or pursuant to Sec. 587.201(a) are 

prohibited.

    (c) Unless otherwise authorized by this part or by a specific 

license expressly referring to this section, any dealing in any security 

(or evidence thereof) held within the possession or control of a U.S. 

person and either registered or inscribed in the name of or known to be 

held for the benefit of any person designated in or pursuant to Sec. 

587.201(a) is prohibited. This prohibition includes but is not limited 

to the transfer (including the transfer on the books of any issuer or 

agent thereof), disposition, transportation, importation, exportation, 

or withdrawal of any such security or the endorsement or guaranty of 

signatures on any such security. This prohibition applies irrespective 

of the fact that at any time (whether prior to, on, or subsequent to the 

effective date) the registered or inscribed owner of any such security 

may have or might appear to have assigned, transferred, or otherwise 

disposed of the security.