[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: 31CFR592.201]



[Page 444]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 592_ROUGH DIAMONDS CONTROL REGULATIONS--Table of Contents

 

                         Subpart B_Prohibitions

 

Sec. 592.201  Prohibited importation and exportation of any rough 

diamond; permitted importation or exportation of any rough diamond.





    (a) Except to the extent provided in paragraph (b) of this section, 

and notwithstanding the existence of any rights or obligations conferred 

or imposed by any contract entered into or any license or permit granted 

prior to the effective date, the importation into, or exportation from, 

the United States on or after July 30, 2003, of any rough diamond, from 

whatever source, is prohibited, unless the rough diamond has been 

controlled through the Kimberley Process Certification Scheme.

    (b) The prohibitions in paragraph (a) of this section regarding the 

importation into, or exportation from, the United States of any rough 

diamond not controlled through the Kimberley Process Certification 

Scheme do not apply to an importation from, or exportation to, any 

country with respect to which the Secretary of State has granted a 

waiver pursuant to section 4(b) of the Clean Diamond Trade Act (Pub. L. 

108-19) and section 2(a)(i) of Executive Order 13312.



    Note to Sec. 592.201. An importation of any rough diamond from, or 

an exportation of any rough diamond to, a non-Participant is not 

controlled through the Kimberley Process Certification Scheme and thus 

is not permitted, except in the following circumstance. The Secretary of 

State may, pursuant to section 4(b) of the Clean Diamond Trade Act, 

waive the prohibitions contained in section 4(a) of that Act with 

respect to a particular country for periods of not more than one year 

each. The Secretary of State will publish a notice in the Federal 

Register identifying any country with respect to which a waiver applies 

and specifying the relevant time period during which the waiver will 

apply.