Source: https://www.federalregister.gov/documents/2015/12/31/2015-32881/cyber-related-sanctions-regulations
Timestamp: 2016-12-09 17:23:47
Document Index: 575719948

Matched Legal Cases: ['art 578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', 'art 501', 'art 501', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578', '§\u2009578']

:: Cyber-Related Sanctions Regulations
A Rule by the Foreign Assets Control Office on 12/31/2015
81752-81759
https://www.federalregister.gov/d/2015-32881
The Department of the Treasury's Office of Foreign Assets Control: Assistant Director for Licensing, tel.: 202-622-2480, Assistant Director for Regulatory Affairs, tel.: 202-622-4855, Assistant Start Printed Page 81753Director for Sanctions Compliance & Evaluation, tel.: 202-622-2490; or the Department of the Treasury's Office of the Chief Counsel (Foreign Assets Control), Office of the General Counsel, tel.: 202-622-2410.
Appendix A to Part 578—Executive Order 13694 Start Authority
Subpart A—Relation of This Part to Other Laws and Regulations § 578.101 Relation of this part to other laws and regulations.
This part has been published in abbreviated form for the purpose of providing immediate guidance to the public. OFAC intends to supplement this part with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance, including regarding “cyber-enabled” Start Printed Page 81754activities, and additional general licenses and statements of licensing policy.
Note 1 to § 578.201: The names of persons designated pursuant to Executive Order 13694, whose property and interests in property therefore are blocked pursuant to this section, are published in the Federal Register and incorporated into OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) with the identifier “[CYBER].” The SDN List is accessible through the following page on OFAC's Web site: www.treasury.gov/​sdn. Additional information pertaining to the SDN List can be found in Appendix A to this chapter. See § 578.406 concerning entities that may not be listed on the SDN List but whose property and interests in property are nevertheless blocked pursuant to this section.
(g) This section does not create an affirmative obligation for the holder of blocked tangible property, such as chattels or real estate, or of other blocked property, such as debt or equity Start Printed Page 81755securities, to sell or liquidate such property. However, OFAC may issue licenses permitting or directing such sales or liquidation in appropriate cases.
The term transfer means any actual or purported act or transaction, whether or not evidenced by writing, and whether or not done or performed within the United States, the purpose, intent, or effect of which is to create, surrender, release, convey, transfer, or alter, directly or indirectly, any right, remedy, power, privilege, or interest with respect to any property. Without limitation on the foregoing, it shall include the making, execution, or delivery of any assignment, power, conveyance, check, declaration, deed, deed of trust, power of attorney, power of appointment, bill of sale, mortgage, receipt, agreement, contract, certificate, gift, sale, affidavit, or statement; the making of any payment; the setting off of any obligation or credit; the appointment of Start Printed Page 81756any agent, trustee, or fiduciary; the creation or transfer of any lien; the issuance, docketing, or filing of, or levy of or under, any judgment, decree, attachment, injunction, execution, or other judicial or administrative process or order, or the service of any garnishment; the acquisition of any interest of any nature whatsoever by reason of a judgment or decree of any foreign country; the fulfillment of any condition; the exercise of any power of appointment, power of attorney, or other power; or the acquisition, disposition, transportation, importation, exportation, or withdrawal of any security.
§ 578.404
§ 578.405
§ 578.406
§ 578.501
For provisions relating to licensing procedures, see part 501, subpart E of this chapter. Licensing actions taken pursuant to part 501 of this chapter with respect to the prohibitions contained in this part are considered actions taken pursuant to this part. General licenses and statements of licensing policy relating to this part also may be available through the Cyber-Related sanctions page on OFAC's Web site: www.treasury.gov/​ofac.
§ 578.502
§ 578.503
§ 578.504
Any payment of funds or transfer of credit in which a person whose property and interests in property are blocked pursuant to § 578.201 has any interest that comes within the possession or control of a U.S. financial institution must be blocked in an account on the books of that financial institution. A transfer of funds or credit by a U.S. financial institution between blocked accounts in its branches or offices is authorized, provided that no transfer is made from an account within the Start Printed Page 81757United States to an account held outside the United States, and further provided that a transfer from a blocked account may be made only to another blocked account held in the same name.
§ 578.505
§ 578.506
§ 578.507
§ 578.508
§ 578.801
§ 578.802
§ 578.901
Sec. 7. For those persons whose property and interests in property are blocked pursuant to this order who might have a constitutional presence in the United States, I find that because of the ability to transfer Start Printed Page 81759funds or other assets instantaneously, prior notice to such persons of measures to be taken pursuant to this order would render those measures ineffectual. I therefore determine that for these measures to be effective in addressing the national emergency declared in this order, there need be no prior notice of a listing or determination made pursuant to section 1 of this order.