[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: 31CFR590.207]



[Page 421-422]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 590_ANGOLA (UNITA) SANCTIONS REGULATIONS--Table of Contents

 

                         Subpart B_Prohibitions

 

Sec. 590.207  Prohibited transactions involving blocked property.



    (a) Except as otherwise authorized, no property or interests in 

property 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 United States persons, including their overseas branches, of 

UNITA or of those senior officials of UNITA or adult members of their 

immediate families who are designated by the Secretary of the Treasury 

or the Secretary's delegate may be transferred, paid, exported, 

withdrawn, or otherwise dealt in.



    Note to paragraph (a) of Sec. 590.207: Please refer to the 

appendices at the end of this chapter V for listings of senior officials 

of UNITA and adult members of their immediate families designated 

pursuant to this section. 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.



    (b) 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



[[Page 422]]



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 whose property is 

blocked pursuant to this section 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 (either 

prior to, on, or subsequent to the effective date) the registered or 

inscribed owner of any such security may have or appears to have 

assigned, transferred, or otherwise disposed of the 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.