Source: https://www.law.cornell.edu/cfr/text/31/560.215
Timestamp: 2019-10-20 14:01:18
Document Index: 652800137

Matched Legal Cases: ['§ 560', '§ 560', '§ 560', '§ 560', '§ 560', '§ 560', '§ 560']

31 CFR § 560.215 - Prohibitions on foreign entities owned or controlled by U.S. persons. | CFR | US Law | LII / Legal Information Institute
Section 560.215. Prohibitions on foreign entities owned or controlled by U.S. persons.
31 CFR § 560.215 - Prohibitions on foreign entities owned or controlled by U.S. persons.
§ 560.215 Prohibitions on foreign entities owned or controlled by U.S. persons.
If a transaction is exempt from the prohibitions of this part if engaged in by a U.S. person, it would not be prohibited for an entity that is owned or controlled by a United States person and established or maintained outside the United States (a “U.S.-owned or -controlled foreign entity”) to engage in the transaction to the same extent that it would not be prohibited for the U.S. person to engage in the transaction and provided that the U.S.-owned or -controlled foreign entity satisfies all the requirements of the exemption. See also§ 560.556 of this part for a general license authorizing a U.S.-owned or -controlled foreign entity to engage in a transaction otherwise prohibited by § 560.215 that would be authorized by a general license set forth in or issued pursuant to this part if engaged in by a U.S. person or in the United States, subject to certain exclusions. Finally, if a transaction prohibited by § 560.215 is one for which a U.S. person might apply for a specific license - for example, the exportation of medical devices to Iran - a U.S.-owned or -controlled foreign entity may apply for a specific license to engage in the transaction.
(b)Definitions: (1) For purposes of paragraph (a) of this section, an entity is “owned or controlled” by a United States person if the United States person:
See§ 560.304 of this part for the definition of the term Government ofIran.