Source: https://ecfr.io/Title-31/pt31.3.547
Timestamp: 2019-06-16 08:57:08
Document Index: 415242030

Matched Legal Cases: ['art 547', 'art 547', 'art 547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', 'arts 730', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§501', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§501', '§547', '§547', '§547', '§547', '§547', '§547', '§547', '§510', '§547', '§547', 'art 501', '§547', '§547', '§547', '§547']

[31 CFR 547] Title 31 Part 547 : Code of Federal Regulations ';
Title 31 Part 547
Title 31 → Subtitle B → Chapter V → Part 547
§547.101 Relation of this part to other laws and regulations.
§547.201 Prohibited transactions involving blocked property.
§547.202 Effect of transfers violating the provisions of this part.
§547.203 Holding of funds in interest-bearing accounts; investment and reinvestment.
§547.204 Expenses of maintaining blocked tangible property; liquidation of blocked property.
§547.205 Evasions; attempts; causing violations; conspiracies.
§547.206 Exempt transactions.
§547.300 Applicability of definitions.
§547.301 Arms and related materiel.
§547.302 Blocked account; blocked property.
§547.303 Effective date.
§547.304 Entity.
§547.305 Interest.
§547.306 Licenses; general and specific.
§547.307 Person.
§547.308 Property; property interest.
§547.309 Transfer.
§547.310 United States.
§547.311 U.S. financial institution.
§547.312 United States person; U.S. person.
§547.313 Financial, material, logistical, or technological support.
§547.314 Information or informational materials.
§547.315 OFAC.
§547.401 Reference to amended sections.
§547.402 Effect of amendment.
§547.403 Termination and acquisition of an interest in blocked property.
§547.404 Transactions ordinarily incident to a licensed transaction.
§547.405 Provision of services.
§547.406 Offshore transactions involving blocked property.
§547.407 Payments from blocked accounts to satisfy obligations prohibited.
§547.408 Charitable contributions.
§547.409 Credit extended and cards issued by financial institutions to a person whose property and interests in property are blocked.
§547.410 Setoffs prohibited.
§547.411 Entities owned by one or more persons whose property and interests in property are blocked.
§547.501 General and specific licensing procedures.
§547.502 Effect of license or authorization.
§547.503 Exclusion from licenses.
§547.504 Payments and transfers to blocked accounts in U.S. financial institutions.
§547.505 Entries in certain accounts for normal service charges authorized.
§547.506 Investment and reinvestment of certain funds.
§547.507 Provision of certain legal services.
§547.508 Payments for legal services from funds originating outside the United States.
§547.509 Emergency medical services.
§547.601 Records and reports.
§547.701 Penalties.
§547.702 Pre-Penalty Notice; settlement.
§547.703 Penalty imposition.
§547.704 Administrative collection; referral to United States Department of Justice.
§547.705 Finding of Violation
§547.801 Procedures.
§547.802 Delegation of certain authorities by the Secretary of the Treasury.
§547.901 Paperwork Reduction Act notice.
Source: 74 FR 25441, May 28, 2009, unless otherwise noted.
Source: 83 FR 57310, Nov. 15, 2018, unless otherwise noted.
Note 1 to paragraph (a): The names of persons listed in or designated pursuant to Executive Order 13413, both as originally issued and as amended by Executive Order 13671, whose property and interests in property therefore are blocked pursuant to paragraph (a) of 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 “[DRCONGO].” The SDN List is accessible through the following page on OFAC's website: www.treasury.gov/sdn. Additional information pertaining to the SDN List can be found in appendix A to this chapter. See §547.411 concerning entities that may not be listed on the SDN List but whose property and interests in property are nevertheless blocked pursuant to paragraph (a) of this section.
Note 2 to paragraph (a): The International Emergency Economic Powers Act (50 U.S.C. 1701-1706), in Section 203 (50 U.S.C. 1702), authorizes the blocking of property and interests in property of a person during the pendency of an investigation. The names of persons whose property and interests in property are blocked pending investigation pursuant to paragraph (a) of this section also are published in the Federal Register and incorporated into the SDN List with the identifier “[BPI-DRCONGO].”
Note 3 to paragraph (a): Sections 501.806 and 501.807 of this chapter describe the procedures to be followed by persons seeking, respectively, the unblocking of funds that they believe were blocked due to mistaken identity, and administrative reconsideration of their status as persons whose property and interests in property are blocked pursuant to paragraph (a) of this section.
(a) Any transfer after the effective date that is in violation of any provision of this part or of any regulation, order, directive, ruling, instruction, or license issued pursuant to this part, and that involves any property or interest in property blocked pursuant to §547.201(a), is null and void and shall not be the basis for the assertion or recognition of any interest in or right, remedy, power, or privilege with respect to such property or interests in property.
(b) No transfer before the effective date shall be the basis for the assertion or recognition of any right, remedy, power, or privilege with respect to, or any interest in, any property or interests in property blocked pursuant to §547.201(a), unless the person who holds or maintains such property, prior to that date, had written notice of the transfer or by any written evidence had recognized such transfer.
(e) Unless licensed pursuant to this part, any attachment, judgment, decree, lien, execution, garnishment, or other judicial process is null and void with respect to any property and interests in property blocked pursuant to §547.201(a).
(a) Except as provided in paragraph (e) or (f) of this section, or as otherwise directed or authorized by OFAC, any U.S. person holding funds, such as currency, bank deposits, or liquidated financial obligations, subject to §547.201(a) shall hold or place such funds in a blocked interest-bearing account located in the United States.
(e) Blocked funds held in instruments the maturity of which exceeds 180 days at the time the funds become subject to §547.201(a) may continue to be held until maturity in the original instrument, provided any interest, earnings, or other proceeds derived therefrom are paid into a blocked interest-bearing account in accordance with paragraph (a) or (f) of this section.
(f) Blocked funds held in accounts or instruments outside the United States at the time the funds become subject to §547.201(a) may continue to be held in the same type of accounts or instruments, provided the funds earn interest at rates that are commercially reasonable.
(h) Funds subject to this section may not be held, invested, or reinvested in a manner that provides immediate financial or economic benefit or access to any person whose property and interests in property are blocked pursuant to §547.201(a), nor may their holder cooperate in or facilitate the pledging or other attempted use as collateral of blocked funds or other assets.
(a) Except as otherwise authorized, and notwithstanding the existence of any rights or obligations conferred or imposed by any international agreement or contract entered into or any license or permit granted prior to the effective date, all expenses incident to the maintenance of tangible property blocked pursuant to §547.201(a) shall be the responsibility of the owners or operators of such property, which expenses shall not be met from blocked funds.
(b) Property blocked pursuant to §547.201(a) may, in the discretion of OFAC, be sold or liquidated and the net proceeds placed in a blocked interest-bearing account in the name of the owner of the property.
Note 1 to paragraph (a): Persons whose property and interests in property are blocked pursuant to the authority of the UNPA include those listed on both OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) and the Consolidated United Nations Security Council Sanctions List (UN List) (see https://www.un.org) as well as persons listed on the SDN List for being owned or controlled by, or acting for or on behalf of, persons listed on both the SDN List and the UN List.
(c) Information or informational materials. (1) The prohibitions contained in this part do not apply to the importation from any country and the exportation to any country of any information or informational materials, as defined in §547.314, whether commercial or otherwise, regardless of format or medium of transmission.
(3) This section does not exempt transactions incident to the exportation of software subject to the Export Administration Regulations, 15 CFR parts 730 through 774, or to the exportation of goods (including software) or technology for use in the transmission of any data, or to the provision, sale, or leasing of capacity on telecommunications transmission facilities (such as satellite or terrestrial network connectivity) for use in the transmission of any data. The exportation of such items or services and the provision, sale, or leasing of such capacity or facilities to a person whose property and interests in property are blocked pursuant to §547.201(a) are prohibited.
[83 FR 57312, Nov. 15, 2018]
The term arms and related materiel means arms or related materiel of all types, including military aircraft and equipment, but excludes:
{74 FR 25441, May 28, 2009, as amended at 83 FR 57312, Nov. 15, 2018]
The terms blocked account and blocked property shall mean any account or property subject to the prohibitions in §547.201 held in the name of a person whose property and interests in property are blocked pursuant to §547.201(a), or in which such person has an interest, and with respect to which payments, transfers, exportations, withdrawals, or other dealings may not be made or effected except pursuant to a license or other authorization from OFAC expressly authorizing such action.
Note 1 to §547.302: See §547.411 concerning the blocked status of property and interests in property of an entity that is directly or indirectly owned, whether individually or in the aggregate, 50 percent or more by one or more persons whose property and interests in property are blocked pursuant to §547.201(a).
(1) With respect to a person whose property and interests in property are blocked pursuant to §547.201(a)(1), 12:01 a.m. eastern standard time on October 30, 2006; and
(2) With respect to a person whose property and interests in property are otherwise blocked pursuant to §547.201(a), the earlier of the date of actual or constructive notice that such person's property and interests in property are blocked.
Note 1 to §547.306: See §501.801 of this chapter on licensing procedures.
[83 FR 57313, Nov. 15, 2018]
The term financial, material, logistical, or technological support, as used in §547.201(a)(2)(vi), means any property, tangible or intangible, including currency, financial instruments, securities, or any other transmission of value; weapons or related materiel; chemical or biological agents; explosives; false documentation or identification; communications equipment; computers; electronic or other devices or equipment; technologies; lodging; safe houses; facilities; vehicles or other means of transportation; or goods. “Technologies” as used in this definition means specific information necessary for the development, production, or use of a product, including related technical data such as blueprints, plans, diagrams, models, formulae, tables, engineering designs and specifications, manuals, or other recorded instructions.
Source: 83 FR 57313, Nov. 15, 2018, unless otherwise noted.
(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 person whose property and interests in property are blocked pursuant to §547.201(a), such property shall no longer be deemed to be property blocked pursuant to §547.201(a), unless there exists in the property another interest that is blocked pursuant to §547.201(a), 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 person whose property and interests in property are blocked pursuant to §547.201(a), such property shall be deemed to be property in which such person has an interest and therefore blocked.
(1) An ordinarily incident transaction, not explicitly authorized within the terms of the license, by or with a person whose property and interests in property are blocked pursuant to §547.201(a); or
(b) For example, a license authorizing a person to complete a securities sale involving Company A, whose property and interests in property are blocked pursuant to §547.201(a), also authorizes other persons to engage in activities that are ordinarily incident and necessary to complete the sale, including transactions by the buyer, broker, transfer agents, and banks, provided that such other persons are not themselves persons whose property and interests in property are blocked pursuant to §547.201(a).
(a) The prohibitions on transactions contained in §547.201 apply to services performed in the United States or by U.S. persons, wherever located, including by a foreign branch of an entity located in the United States:
(1) On behalf of or for the benefit of a person whose property and interests in property are blocked pursuant to §547.201(a); or
(2) With respect to property interests of any person whose property and interests in property are blocked pursuant to §547.201(a).
(b) For example, U.S. persons may not, except as authorized by or pursuant to this part, provide legal, accounting, financial, brokering, freight forwarding, transportation, public relations, or other services to a person whose property and interests in property are blocked pursuant to §547.201(a).
Note 1 to §547.405: See §§547.507 and 547.509 on licensing policy with regard to the provision of certain legal and emergency medical services.
The prohibitions in §547.201 on transactions or dealings involving blocked property, as defined in §547.302, apply to transactions by any U.S. person in a location outside the United States.
Pursuant to §547.201, no debits may be made to a blocked account to pay obligations to U.S. persons or other persons, except as authorized by or pursuant to this part.
Note 1 to §547.407: See also §547.502(e), which provides that no license or other authorization contained in or issued pursuant to this part authorizes transfers of or payments from blocked property or debits to blocked accounts unless the license or other authorization explicitly authorizes the transfer of or payment from blocked property or the debit to a blocked account.
Unless specifically authorized by OFAC pursuant to this part, no charitable contribution of funds, goods, services, or technology, including contributions to relieve human suffering, such as food, clothing, or medicine, may be made by, to, or for the benefit of, or received from, a person whose property and interests in property are blocked pursuant to §547.201(a). For the purposes of this part, a contribution is made by, to, or for the benefit of, or received from, a person whose property and interests in property are blocked pursuant to §547.201(a) if made by, to, or in the name of, or received from or in the name of, such a person; if made by, to, or in the name of, or received from or in the name of, an entity or individual acting for or on behalf of, or owned or controlled by, such a person; or if made in an attempt to violate, to evade, or to avoid the bar on the provision of contributions by, to, or for the benefit of such a person, or the receipt of contributions from such a person.
The prohibition in §547.201 on dealing in property subject to that section prohibits U.S. financial institutions from performing under any existing credit agreements, including charge cards, debit cards, or other credit facilities issued by a financial institution to a person whose property and interests in property are blocked pursuant to §547.201(a).
A setoff against blocked property (including a blocked account), whether by a U.S. bank or other U.S. person, is a prohibited transfer under §547.201 if effected after the effective date.
Persons whose property and interests in property are blocked pursuant to §547.201(a) have an interest in all property and interests in property of an entity in which such persons directly or indirectly own, whether individually or in the aggregate, a 50 percent or greater interest. The property and interests in property of such an entity, therefore, are blocked, and such an entity is a person whose property and interests in property are blocked pursuant to §547.201(a), regardless of whether the name of the entity is incorporated into OFAC's Specially Designated Nationals and Blocked Persons List (SDN List).
[83 FR 57315, Nov. 15, 2018]
Any payment of funds or transfer of credit in which a person whose property and interests in property are blocked pursuant to §547.201(a) 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 United 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.
Note to §547.504: See §501.603 of this chapter for mandatory reporting requirements regarding financial transfers. See also §547.203 concerning the obligation to hold blocked funds in interest-bearing accounts.
Subject to the requirements of §547.203, U.S. financial institutions are authorized to invest and reinvest assets blocked pursuant to §547.201, subject to the following conditions:
(c) No immediate financial or economic benefit accrues (e.g., through pledging or other use) to persons whose property and interests in property are blocked pursuant to §547.201(a).
(a) The provision of the following legal services to or on behalf of persons whose property and interests in property are blocked pursuant to §547.201(a) or any further Executive orders relating to the national emergency declared in E.O. 13413 of October 27, 2006, is authorized, provided that receipt of payment of professional fees and reimbursement of incurred expenses must be authorized: Pursuant to §547.508, which authorizes certain payments for legal services from funds originating outside the United States; via specific license; or otherwise pursuant to this part:
(b) The provision of any other legal services to or on behalf of persons whose property and interests in property are blocked pursuant to §547.201(a) or any further Executive orders relating to the national emergency declared in E.O. 13413 of October 27, 2006, not otherwise authorized in this part, requires the issuance of a specific license.
(c) U.S. persons do not need to obtain specific authorization to provide related services, such as making filings and providing other administrative services, that are ordinarily incident to the provision of services authorized by paragraph (a) of this section. Additionally, U.S. persons who provide services authorized by paragraph (a) of this section do not need to obtain specific authorization to contract for related services that are ordinarily incident to the provision of those legal services, such as those provided by private investigators or expert witnesses, or to pay for such services. See §510.404.
(d) Entry into a settlement agreement or the enforcement of any lien, judgment, arbitral award, decree, or other order through execution, garnishment, or other judicial process purporting to transfer or otherwise alter or affect property or interests in property blocked pursuant to §547.201(a) or any further Executive orders relating to the national emergency declared in E.O. 13413 of October 27, 2006, is prohibited unless licensed pursuant to this part.
Note 1 to §547.507: Pursuant to part 501, subpart E, of this chapter, U.S. persons seeking administrative reconsideration or judicial review of their designation or the blocking of their property and interests in property may apply for a specific license from OFAC to authorize the release of certain blocked funds for the payment of professional fees and reimbursement of incurred expenses for the provision of such legal services where alternative funding sources are not available. For more information, see OFAC's Guidance on the Release of Limited Amounts of Blocked Funds for Payment of Legal Fees and Costs Incurred in Challenging the Blocking of U.S. Persons in Administrative or Civil Proceedings, which is available on OFAC's website at: www.treasury.gov/ofac.
(a) Professional fees and incurred expenses. (1) Receipt of payment of professional fees and reimbursement of incurred expenses for the provision of legal services authorizedpursuant to §547.507(a) to or on behalf of any person whose property and interests in property are blocked pursuant to §547.201 or any further Executive orders relating to the national emergency declared in E.O. 13413 of October 27, 2006, is authorized from fundsoriginating outside the United States, provided that the funds do not originate from:
(iii) Any individual or entity, other than the person on whose behalf the legal services authorized pursuant to §547.507(a) are to be provided, whose property and interests in property are blocked pursuant to any part of this chapter or any Executive order or statute.
(2) Nothing in this paragraph (a) authorizes payments for legal services using funds in which any other person whose property and interests in property are blocked pursuant to §547.201(a), any other part of this chapter, or any Executive order has an interest.
(i) Email: (preferred method)[email protected]; or
The provision and receipt of nonscheduled emergency medical services that areotherwise prohibited by this part or any further Executive orders relating to the nationalemergency declared in Executive Order 13413 of October 27, 2006 areauthorized.
[83 FR 57316, Nov. 15, 2018]
Source: 83 FR 57315, Nov. 15, 2018, unless otherwise noted.
(a) Section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705)(IEEPA) is applicable to violations of the provisions of any license, ruling, regulation,order, directive, or instruction issued by or pursuant to the direction or authorization ofthe Secretary of the Treasury pursuant to this part or otherwise under IEEPA.
Note 1 to paragraph (a)(1): IEEPA provides for a maximum civil penalty not to exceed the greater of $295,141 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
[83 FR 57318, Nov. 15, 2018]