[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: 31CFR595.403]



[Page 471]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 595_TERRORISM SANCTIONS REGULATIONS--Table of Contents

 

                        Subpart D_Interpretations

 

Sec. 595.403  Termination and acquisition of an interest in blocked 

property.



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

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

interest) away from a specially designated terrorist, such property 

shall no longer be deemed to be property in which a specially designated 

terrorist has or has had an interest, or which is held in the name of a 

specially designated terrorist, unless there exists in the property 

another interest of a specially designated terrorist, 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 a 

specially designated terrorist, including by the making of any 

contribution of funds, goods, or services to or for the benefit of a 

specially designated terrorist, such property shall be deemed to be 

property in which there exists an interest of the specially designated 

terrorist.