[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: 31CFR595.704]



[Page 475]

 

                  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 G_Penalties

 

Sec. 595.704  Penalty notice.



    (a) No violation. If, after considering any presentations made in 

response to the prepenalty notice and any relevant facts, the Director 

of the Office of Foreign Assets Control determines that there was no 

violation by the person named in the prepenalty notice, he promptly 

shall notify the person in writing of that determination and that no 

monetary penalty will be imposed.

    (b) Violation. If, after considering any presentations made in 

response to the prepenalty notice, the Director of the Office of Foreign 

Assets Control determines that there was a violation by the person named 

in the prepenalty notice, he promptly shall issue a written notice of 

the imposition of the monetary penalty to that person.