[Federal Register Volume 61, Number 23 (Friday, February 2, 1996)]
[Rules and Regulations]
[Pages 3805-3813]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-2183]



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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 595


Terrorism Sanctions Regulations

AGENCY: Office of Foreign Assets Control, Department of the Treasury.

ACTION: Final rule.

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SUMMARY: The Office of Foreign Assets Control of the U.S. Department of 
the Treasury is issuing the Terrorism Sanctions Regulations to 
implement the President's declaration of a national emergency and 
imposition of sanctions against certain persons whose acts of violence 
have the purpose or effect of disrupting the Middle East peace process.

EFFECTIVE DATE: February 2, 1996.

FOR FURTHER INFORMATION: Contact the Office of Foreign Assets Control, 
Department of the Treasury, Washington, DC 22201, Tel.: 202/622-2520.

SUPPLEMENTARY INFORMATION:

Electronic Availability

    This document is available as an electronic file on The Federal 
Bulletin Board the day of publication in the Federal Register. By 
modem, dial 202/515-1387 and type ``/GO FAC,'' or call 202/512-1530 for 
disks or paper copies. This file is available for downloading without 
charge in WordPerfect, ASCII, and Adobe AcrobatTM readable (*.PDF) 
formats. The document is also accessible for downloading in ASCII 
format without charge from Treasury's Electronic Library (``TEL'') in 
the ``Business, Trade and Labor Mall'' of the FedWorld bulletin board. 
By modem dial 703/321-3339, and select the appropriate self-expanding 
file in TEL. For Internet access, use one of the following protocols: 
Telnet = fedworld.gov (192.239.93.3); World Wide Web (Home Page) = 
http://www.fedworld.gov; FTP = ftp.fedworld.gov (192.239.92.205).

Background

    On January 24, 1995, the President issued Executive Order 12947, 
declaring a national emergency with respect to ``grave acts of violence 
committed by foreign terrorists that disrupt the Middle East peace 
process,'' and invoking the authority, inter alia, of the International 
Emergency Economic Powers Act (50 U.S.C. 1701-1706). The order blocks 
all property and interests in property of 12 terrorist organizations 
designated in the order, as well as the property and interests in 
property of other persons who are designated by the Secretary of State 
or the Secretary of the Treasury. The order also authorizes the 
Secretary of the Treasury, in consultation with the Secretary of State 
and, as appropriate, the Attorney General, to take such actions, 
including the promulgation of rules and regulations, as may be 
necessary to carry out the purposes of the order. In implementation of 
the order, the Treasury Department is issuing the Terrorism Sanctions 
Regulations (the ``Regulations'').
    The Regulations block all property and interests in property of (1) 
persons designated in Executive Order 12947; (2) persons designated by 
the Secretary of State, in coordination with the Secretary of the 
Treasury and the Attorney General, because they are found (a) to have 
committed, or to pose a significant risk of committing, acts of 
violence that have the purpose or effect of disrupting the Middle East 
peace process, or (b) to assist in, sponsor, or provide financial, 
material, or technological support for, or services in support of, such 
acts of violence.
    The Regulations also block all property and interests in property 
of persons determined by the Secretary of the Treasury, in coordination 
with the Secretary of State and the Attorney General, to be owned or 
controlled by, or to act for or on behalf of, any other designated 
person. Persons coming within any of these categories are called 
specially designated terrorists (``SDTs''). Executive Order 12947 
blocks all property or interests in property of SDTs that are in the 
United States, that hereinafter come within the United States, or that 
are or hereafter come within the possession or control of U.S. persons, 
including their overseas branches. Section 1(b) of Executive Order 
12947 also prohibits any transaction or dealing by U.S. persons or in 
the United States in property or interests in property of SDTs, 
including the making or receiving of any contribution of funds, goods, 
or services for the benefit of an SDT.
    Transactions otherwise prohibited under this part but found to be 
consistent with U.S. policy may be authorized by a general license 
contained in subpart E or by a specific license issued pursuant to the 
procedures described in Sec. 595.801 of subpart H. Civil and criminal 
penalties for violations of the Regulations are described in subpart G.
    Since the Regulations involve a foreign affairs function, the 
provisions of Executive Order 12866 and the Administrative Procedure 
Act (5 U.S.C. 553), requiring notice of proposed rulemaking, 
opportunity for public 

[[Page 3806]]
participation, and delay in effective date, are inapplicable. Because 
no notice of proposed rulemaking is required for this rule, the 
Regulatory Flexibility Act (5 U.S.C. 601-612) does not apply. Wherever 
possible, however, it is the practice of the Office of Foreign Assets 
Control to receive written submissions or hold informal consultations 
with interested parties concerning any rule or other public document.

Paperwork Reduction Act

    The Regulations are being issued without prior notice and public 
procedure pursuant to the Administrative Procedure Act (5 U.S.C. 553). 
Pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3507), the 
collections of information contained in the Regulations have been 
submitted to and approved by the Office of Management and Budget 
(``OMB'') pending public comment, and have been assigned control number 
1505-0156. An agency may not conduct or sponsor, and a person is not 
required to respond to, a collection of information unless the 
collection of information displays a valid control number.
    The collections of information in the Regulations are contained in 
Secs. 595.503, 595.504, subpart F, and Secs. 595.703 and 595.801. This 
information is required by the Office of Foreign Assets Control for 
licensing, compliance, civil penalty, and enforcement purposes. This 
information will be used to determine the eligibility of applicants for 
the benefits provided through specific licenses, to determine whether 
persons subject to the Regulations are in compliance with applicable 
requirements, and to determine whether and to what extent civil penalty 
or other enforcement action is appropriate. The likely respondents and 
record keepers are individuals and business organizations.
    No assurances of confidentiality are given to persons who furnish 
information to OFAC unless specifically indicated in advance. It is the 
policy of OFAC to protect the confidentiality of information in 
appropriate cases pursuant to the exemptions from disclosure provided 
under the Freedom of Information Act (5 U.S.C. 552) and the Privacy Act 
(5 U.S.C. 552a).
    Estimated total annual reporting and/or recordkeeping burden: 500 
hours.
    The estimated annual burden per respondent/record keeper varies 
from 30 minutes to 2 hours, depending on individual circumstances, with 
an estimated average of 1 hour.
    Estimated number of respondents and/or record keepers: 500.
    Estimated annual frequency of responses: 1-12.
    Comments are invited on: (a) whether these collections of 
information are necessary for the proper performance of the functions 
of the agency, including whether the information shall have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
collections of information; (c) ways to enhance the quality, utility, 
and clarity of the information to be collected; and (d) ways to 
minimize the burden of the collection of information on respondents, 
including through the use of automated collection techniques or other 
forms of information technology.
    Comments concerning the above information, the accuracy of 
estimated average annual burden, and suggestions for reducing this 
burden should be directed to OMB, Paperwork Reduction Project, control 
number 1505-0156, Washington, DC 20503, with a copy to the Office of 
Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania 
Ave., N.W., Annex, Washington, DC 20220. Any such comments should be 
submitted not later than April 2, 1996. Comments on aspects of the 
Regulations other than those involving collections of information 
should not be sent to OMB.

List of Subjects in 31 CFR Part 595

    Administrative practice and procedure, Banking and finance, 
Blocking of assets, Fines and penalties, Reporting and recordkeeping 
requirements, Specially designated terrorists, Terrorism, Transfer of 
assets.
    For the reasons set forth in the preamble, 31 CFR part 595 is added 
to read as follows:

PART 595--TERRORISM SANCTIONS REGULATIONS

Subpart A--Relation of this Part to Other Laws and Regulations

Sec.
595.101 Relation of this part to other laws and regulations.

Subpart B--Prohibitions

595.201 Prohibited transactions involving blocked property.
595.202 Effect of transfers violating the provisions of this part.
595.203 Holding of certain types of blocked property in interest-
bearing accounts.
595.204 Prohibited dealing in property; contributions of funds, 
goods, or services.
595.205 Evasions; attempts; conspiracies.
595.206 Exempt transactions.

Subpart C--General Definitions

595.301 Blocked account; blocked property.
595.302 Effective date.
595.303 Entity.
595.304 Foreign person.
595.305 General license.
595.306 Information and informational materials.
595.307 Interest.
595.308 License.
595.309 Person.
595.310 Property; property interest.
595.311 Specially designated terrorist.
595.312 Specific license.
595.313 Transfer.
595.314 United States.
595.315 United States person; U.S. person.
595.316 U.S. financial institution.

Subpart D--Interpretations

595.401 Reference to amended sections.
595.402 Effect of amendment.
595.403 Termination and acquisition of an interest in blocked 
property.
595.404 Setoffs prohibited.
595.405 Transactions incidental to a licensed transaction.
595.406 Provision of services.
595.407 Offshore transactions.
595.408 Charitable contributions to specially designated terrorists.

Subpart E--Licenses, Authorizations and Statements of Licensing Policy

595.501 Effect of license or authorization.
595.502 Exclusion from licenses and authorizations.
595.503 Payments and transfers to blocked accounts in U.S. financial 
institutions.
595.504 Investment and reinvestment of certain funds.
595.505 Entries in certain accounts for normal service charges 
authorized.
595.506 Provision of certain legal services to a specially 
designated terrorist.
595.507 Authorization of emergency medical services.

Subpart F--Reports

595.601 Required records.
595.602 Reports to be furnished on demand.
595.603 Registration of persons holding blocked property subject to 
595.201.

Subpart G--Penalties

595.701 Penalties.
595.702 Prepenalty notice.
595.703 Presentation responding to prepenalty notice.
595.704 Penalty notice.
595.705 Administrative collection action; referral to United States 
Department of Justice.

Subpart H--Procedures

595.801 Licensing.
595.802 Decisions.
595.803 Amendment, modification, or revocation.
595.804 Rulemaking.
595.805 Delegation by the Secretary of the Treasury.
595.806 Rules governing availability of information.

Subpart I--Paperwork Reduction Act

595.901 Paperwork Reduction Act notice.

    Authority: 50 U.S.C. 1601-1641, 1701-1706; 3 U.S.C. 301; E.O. 
12947, 60 FR 5079 (January 25, 1995).

[[Page 3807]]


Subpart A--Relation of This Part to Other Laws andRegulations


Sec. 595.101  Relation of this part to other laws and regulations.

    (a) This part is separate from, and independent of, the other parts 
of this chapter. Differing foreign policy and national security 
contexts may result in differing interpretations of similar language 
among the parts of this chapter. No license or authorization contained 
in or issued pursuant to those other parts authorizes any transaction 
prohibited by this part. No license or authorization contained in or 
issued pursuant to any other provision of law or regulation authorizes 
any transaction prohibited by this part.
    (b) No license or authorization contained in or issued pursuant to 
this part relieves the involved parties from complying with any other 
applicable laws or regulations.

Subpart B--Prohibitions


Sec. 595.201  Prohibited transactions involving blocked property.

    Except as authorized by regulations, orders, directives, rulings, 
instructions, licenses, or otherwise, no property or interests in 
property of a specially designated terrorist, that are in the United 
States, that hereafter come within the United States, or that are or 
hereafter come within the possession or control of U.S. persons, 
including their overseas branches, may be transferred, paid, exported, 
withdrawn or otherwise dealt in.


Sec. 595.202  Effect of transfers violating the provisions of this 
part.

    (a) Any transfer after the effective date, which is in violation of 
any provision of this part or of any regulation, order, directive, 
ruling, instruction, license, or other authorization hereunder and 
involves any property held in the name of a specially designated 
terrorist or in which a specially designated terrorist has or has had 
an interest since such date, 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.
    (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 interest in, any property held in the name of a 
specially designated terrorist or in which a specially designated 
terrorist has an interest, or has had an interest since such date, 
unless the person with whom such property is held or maintained, prior 
to such date, had written notice of the transfer or by any written 
evidence had recognized such transfer.
    (c) Unless otherwise provided, an appropriate license or other 
authorization issued by or pursuant to the direction or authorization 
of the Director of the Office of Foreign Assets Control before, during, 
or after a transfer shall validate such transfer or render it 
enforceable to the same extent that it would be valid or enforceable 
but for the provisions of the International Emergency Economic Powers 
Act, this part, and any regulation, order, directive, ruling, 
instruction, or license issued hereunder.
    (d) Transfers of property which otherwise would be null and void or 
unenforceable by virtue of the provisions of this section shall not be 
deemed to be null and void or unenforceable as to any person with whom 
such property was held or maintained (and as to such person only) in 
cases in which such person is able to establish to the satisfaction of 
the Director of the Office of Foreign Assets Control each of the 
following:
    (1) Such transfer did not represent a willful violation of the 
provisions of this part by the person with whom such property was held 
or maintained;
    (2) The person with whom such property was held or maintained did 
not have reasonable cause to know or suspect, in view of all the facts 
and circumstances known or available to such person, that such transfer 
required a license or authorization by or pursuant to this part and was 
not so licensed or authorized, or if a license or authorization did 
purport to cover the transfer, that such license or authorization had 
been obtained by misrepresentation of a third party or the withholding 
of material facts or was otherwise fraudulently obtained; and
    (3) The person with whom such property was held or maintained filed 
with the Office of Foreign Assets Control a report setting forth in 
full the circumstances relating to such transfer promptly upon 
discovery that:
    (i) Such transfer was in violation of the provisions of this part 
or any regulation, ruling, instruction, license, or other direction or 
authorization hereunder; or
    (ii) Such transfer was not licensed or authorized by the Director 
of the Office of Foreign Assets Control; or
    (iii) If a license did purport to cover the transfer, such license 
had been obtained by misrepresentation of a third party or the 
withholding of material facts or was otherwise fraudulently obtained.
    Note: The filing of a report in accordance with the provisions of 
paragraph (d)(3) of this section shall not be deemed evidence that the 
terms of paragraphs (d)(1) and (2) of this section have been satisfied.
    (e) Unless licensed or authorized pursuant to this part, any 
attachment, judgment, decree, lien, execution, garnishment, or other 
judicial process is null and void with respect to any property which, 
on or since the effective date, was held in the name of a specially 
designated terrorist or in which there existed an interest of a 
specially designated terrorist.


Sec. 595.203  Holding of certain types of blocked property in interest-
bearing accounts.

    (a)(1) Any person, including a U.S. financial institution, 
currently holding property subject to Sec. 595.201 which, as of the 
effective date or the date of receipt if subsequent to the effective 
date, is not being held in an interest-bearing account, or otherwise 
invested in a manner authorized by the Office of Foreign Assets 
Control, shall transfer such property to, or hold such property or 
cause such property to be held in, an interest-bearing account or 
interest-bearing status in a U.S. financial institution as of the 
effective date or the date of receipt if subsequent to the effective 
date of this section, unless otherwise authorized or directed by the 
Office of Foreign Assets Control.
    (2) The requirement set forth in paragraph (a)(1) of this section 
shall apply to currency, bank deposits, accounts, obligations, and any 
other financial or economic resources or assets, and any proceeds 
resulting from the sale of tangible or intangible property. If interest 
is credited to an account separate from that in which the interest-
bearing asset is held, the name of the account party on both accounts 
must be the same and must clearly indicate the specially designated 
terrorist having an interest in the accounts. If the account is held in 
the name of a specially designated terrorist, the name of the account 
to which interest is credited must be the same.
    (b) For purposes of this section, the term interest-bearing account 
means a blocked account in a U.S. financial institution earning 
interest at rates that are commercially reasonable for the amount of 
funds in the account. Except as otherwise authorized, the funds may not 
be invested or held in instruments the maturity of which exceeds 90 
days.
    (c) This section does not apply to blocked tangible property, such 
as chattels, nor does it create an affirmative obligation on the part 
of the holder of 

[[Page 3808]]
such blocked tangible property to sell or liquidate the property and 
put the proceeds in a blocked account. However, the Office of Foreign 
Assets Control may issue licenses permitting or directing sales of 
tangible property in appropriate cases.


Sec. 595.204  Prohibited dealing in property; contributions of funds, 
goods, or services.

    Except as otherwise authorized, no U.S. person may deal in property 
or interests in property of a specially designated terrorist, including 
the making or receiving of any contribution of funds, goods, or 
services to or for the benefit of a specially designated terrorist.


Sec. 595.205  Evasions; attempts; conspiracies.

    Any transaction for the purpose of, or which has the effect of, 
evading or avoiding, or which facilitates the evasion or avoidance of, 
any of the prohibitions set forth in this part, is hereby prohibited. 
Any attempt to violate the prohibitions set forth in this part is 
hereby prohibited. Any conspiracy formed for the purpose of engaging in 
a transaction prohibited by this part is hereby prohibited.


Sec. 595.206  Exempt transactions.

    (a) Personal Communications. The prohibitions contained in this 
part do not apply to any postal, telegraphic, telephonic, or other 
personal communication, which does not involve the transfer of anything 
of value.
    (b) Information and informational materials.--(1) The importation 
from any country and the exportation to any country of information or 
informational materials as defined in Sec. 595.306, whether commercial 
or otherwise, regardless of format or medium of transmission, are 
exempt from the prohibitions and regulations of this part.
    (2) This section does not authorize transactions related to 
information and informational materials not fully created and in 
existence at the date of the transactions, or to the substantive or 
artistic alteration or enhancement of informational materials, or to 
the provision of marketing and business consulting services by a U.S. 
person. Such prohibited transactions include, without limitation, 
payment of advances for informational materials not yet created and 
completed, provision of services to market, produce or co-produce, 
create or assist in the creation of information and informational 
materials, and payment of royalties to a specially designated terrorist 
with respect to income received for enhancements or alterations made by 
U.S. persons to information or informational materials imported from a 
specially designated terrorist.
    (3) This section does not authorize transactions incident to the 
exportation of technical data under restriction as defined in 
Sec. 779.4 of the Export Administration Regulations, 15 CFR parts 768-
799 (1994), or to the exportation of goods for use in the transmission 
of any data. The exportation of such goods to specially designated 
terrorists is prohibited, as provided in Sec. 595.201 of this part.
    (c) Travel. The prohibitions contained in this part do not apply to 
transactions ordinarily incident to travel to or from any country, 
including importation of accompanied baggage for personal use, 
maintenance within any country including payment of living expenses and 
acquisition of goods or services for personal use, and arrangement or 
facilitation of such travel including non scheduled air, sea, or land 
voyages.

Subpart C--General Definitions


Sec. 595.301  Blocked account; blocked property.

    The terms blocked account and blocked property shall mean any 
account or property subject to the prohibition in Sec. 595.201 held in 
the name of a specially designated terrorist or in which a specially 
designated terrorist has an interest, and with respect to which 
payments, transfers, exportations, withdrawals, or other dealings may 
not be made or effected except pursuant to an authorization or license 
from the Office of Foreign Assets Control authorizing such action.


Sec. 595.302  Effective date.

    The term effective date refers to the effective date of the 
applicable prohibitions and directives contained in this part which is 
12:01 a.m. EST, January 24, 1995, or, in the case of specially 
designated terrorists designated after that date, the earlier of the 
date on which a person receives actual or constructive notice of such 
designation.


Sec. 595.303  Entity.

    The term entity means a partnership, association, corporation, or 
other organization, group or subgroup.


Sec. 595.304  Foreign Person.

    The term foreign person means any citizen or national of a foreign 
state (including any such individual who is also a citizen or national 
of the United States), or any entity not organized solely under the 
laws of the United States or existing solely in the United States, but 
does not include a foreign state.


Sec. 595.305  General license.

    The term general license means any license or authorization the 
terms of which are set forth in this part.


Sec. 595.306  Information and informational materials.

    (a)(1) For purposes of this part, the term information and 
informational materials means publications, films, posters, phonograph 
records, photographs, microfilms, microfiche, tapes, compact disks, CD 
ROMs, artworks, and news wire feeds, and other information and 
informational articles.
    (2) To be considered informational materials, artworks must be 
classified under chapter subheading 9701, 9702, or 9703 of the 
Harmonized Tariff Schedule of the United States.
    (b) The terms information and informational materials with respect 
to U.S. exports do not include items:
    (1) That were, as of April 30, 1994, or that thereafter become, 
controlled for export pursuant to section 5 of the Export 
Administration Act of 1979, 50 U.S.C. App. 2401-2420 (the ``EAA''), or 
section 6 of the EAA to the extent that such controls promote 
nonproliferation or antiterrorism policies of the United States, 
including ``software'' that is not ``publicly available'' as these 
terms are defined in 15 CFR Parts 779 and 799.1; or
    (2) With respect to which acts are prohibited by 18 U.S.C. chapter 
37.


Sec. 595.307  Interest.

    Except as otherwise provided in this part, the term interest when 
used with respect to property (e.g., `` an interest in property'') 
means an interest of any nature whatsoever, direct or indirect.


Sec. 595.308  License.

    Except as otherwise specified, the term license means any license 
or authorization contained in or issued pursuant to this part.


Sec. 595.309  Person.

    The term person means an individual or entity.


Sec. 595.310  Property; property interest.

    The terms property and property interest include, but are not 
limited to, money, checks, drafts, bullion, bank deposits, savings 
accounts, debts, indebtedness, obligations, notes, guarantees, 
debentures, stocks, bonds, coupons, any other financial instruments, 
bankers acceptances, mortgages, pledges, liens or other rights in the 
nature of security, warehouse 

[[Page 3809]]
receipts, bills of lading, trust receipts, bills of sale, any other 
evidences of title, ownership or indebtedness, letters of credit and 
any documents relating to any rights or obligations thereunder, powers 
of attorney, goods, wares, merchandise, chattels, stocks on hand, 
ships, goods on ships, real estate mortgages, deeds of trust, vendors 
sales agreements, land contracts, leaseholds, ground rents, real estate 
and any other interest therein, options, negotiable instruments, trade 
acceptances, royalties, book accounts, accounts payable, judgments, 
patents, trademarks or copyrights, insurance policies, safe deposit 
boxes and their contents, annuities, pooling agreements, services of 
any nature whatsoever, contracts of any nature whatsoever, and any 
other property, real, personal, or mixed, tangible or intangible, or 
interest or interests therein, present, future or contingent.


Sec. 595.311  Specially designated terrorist.

    (a) The term specially designated terrorist means:
    (1) Persons listed in the Annex to Executive Order 12947;
    (2) Foreign persons designated by the Secretary of State, in 
coordination with the Secretary of the Treasury and the Attorney 
General, because they are found:
    (i) To have committed, or to pose a significant risk of committing, 
acts of violence that have the purpose or effect of disrupting the 
Middle East peace process, or
    (ii) To assist in, sponsor, or provide financial, material, or 
technological support for, or services in support of, such acts of 
violence; and
    (3) Persons determined by the Secretary of the Treasury, in 
coordination with the Secretary of State and the Attorney General, to 
be owned or controlled by, or to act for or on behalf of, any other 
specially designated terrorist.
    (b) [Reserved]


Sec. 595.312  Specific license.

    The term specific license means any license or authorization not 
set forth in this part but issued pursuant to this part.


Sec. 595.313  Transfer.

    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 and, without limitation upon the 
foregoing, 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 any agent, trustee, or fiduciary; the 
creation or transfer of any lien; the issuance, docketing, filing, 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.


Sec. 595.314  United States.

    The term United States means the United States, its territories and 
possessions, and all areas under the jurisdiction or authority thereof.


Sec. 595.315  United States person; U.S. person.

    The term United States person or U.S. person means any United 
States citizen, permanent resident alien, entity organized under the 
laws of the United States or any jurisdiction within the United States 
(including foreign branches); or any person in the United States.


Sec. 595.316  U.S. financial institution.

    The term U.S. financial institution means any U.S. person 
(including foreign branches) that is engaged in the business of 
accepting deposits, making, granting, transferring, holding, or 
brokering loans or credits, or purchasing or selling foreign exchange, 
securities, commodity futures or options, or procuring purchasers and 
sellers thereof, as principal or agent; including, but not limited to, 
depository institutions, banks, savings banks, trust companies, 
securities brokers and dealers, commodity futures and options brokers 
and dealers, forward contract and foreign exchange merchants, 
securities and commodities exchanges, clearing corporations, investment 
companies, employee benefit plans, and U.S. holding companies, U.S. 
affiliates, or U.S. subsidiaries of any of the foregoing. This term 
includes those branches, offices and agencies of foreign financial 
institutions which are located in the United States, but not such 
institutions' foreign branches, offices, or agencies.

Subpart D--Interpretations


Sec. 595.401  Reference to amended sections.

    Except as otherwise specified, reference to any section of this 
part or to any regulation, ruling, order, instruction, direction, or 
license issued pursuant to this part shall be deemed to refer to the 
same as currently amended.


Sec. 595.402  Effect of amendment.

    Any amendment, modification, or revocation of any section of this 
part or of any order, regulation, ruling, instruction, or license 
issued by or under the direction of the Director of the Office of 
Foreign Assets Control shall not, unless otherwise specifically 
provided, be deemed to affect any act done or omitted to be done, or 
any civil or criminal suit or proceeding commenced or pending prior to 
such amendment, modification, or revocation. All penalties, 
forfeitures, and liabilities under any such order, regulation, ruling, 
instruction, or license shall continue and may be enforced as if such 
amendment, modification, or revocation had not been made.


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.


Sec. 595.404  Setoffs prohibited.

    A setoff against blocked property (including a blocked account), 
whether 

[[Page 3810]]
by a U.S. bank or other U.S. person, is a prohibited transfer under 
Sec. 595.201 if effected after the effective date.


Sec. 595.405  Transactions incidental to a licensed transaction.

    Any transaction ordinarily incident to a licensed transaction and 
necessary to give effect thereto is also authorized, except a 
transaction by an unlicensed, specially designated terrorist or 
involving a debit to a blocked account or a transfer of blocked 
property not explicitly authorized within the terms of the license.


Sec. 595.406  Provision of services.

    (a) Except as provided in Sec. 595.206, the prohibitions contained 
in Secs. 595.201 and 595.204 apply to services performed by U.S. 
persons, wherever located:
    (1) On behalf of, or for the benefit of, a specially designated 
terrorist; or
    (2) With respect to property interests of a specially designated 
terrorist.
    (b) Example: U.S. persons may not, except as authorized by the 
Office of Foreign Assets Control by or pursuant to this part, provide 
legal, accounting, public relations, educational, or other services to 
a specially designated terrorist. See Sec. 595.506.


Sec. 595.407  Offshore transactions.

    The prohibitions contained in Sec. 595.201 apply to transactions by 
U.S. persons in locations outside the United States with respect to 
property which the U.S. person knows, or has reason to know, is held in 
the name of a specially designated terrorist, or in which the U.S. 
person knows, or has reason to know, a specially designated terrorist 
has or has had an interest since the effective date.


Sec. 595.408  Charitable contributions to specially designated 
terrorists.

    (a) Unless otherwise specifically authorized by the Office of 
Foreign Assets Control by or pursuant to this part, no charitable 
contribution or donation of funds, goods, services,or technology to 
relieve human suffering, such as food, clothing or medicine, may be 
made to or for the benefit of a specially designated terrorist. For 
purposes of this part, a contribution or donation is made to or for the 
benefit of a specially designated terrorist if made to or in the name 
of a specially designated terrorist; if made to or in the name of an 
entity or individual acting for or on behalf of, or owned or controlled 
by, a specially designated terrorist; or if made in an attempt to 
violate, to evade or to avoid the bar on the provision of contributions 
or donations to specially designated terrorists.
    (b) Individuals and organizations who donate or contribute funds, 
goods, services or technology without knowledge or reason to know that 
the donation or contribution is destined to or for the benefit of a 
specially designated terrorist shall not be subject to penalties for 
such donation or contribution.

Subpart E--Licenses, Authorizations, and Statements of Licensing 
Policy


Sec. 595.501  Effect of license or authorization.

    (a) No license or other authorization contained in this part, or 
otherwise issued by or under the direction of the Director of the 
Office of Foreign Assets Control, shall be deemed to authorize or 
validate any transaction effected prior to the issuance of the license, 
unless specifically provided in such license or authorization.
    (b) No regulation, ruling, instruction, or license authorizes any 
transaction prohibited under this part unless the regulation, ruling, 
instruction, or license is issued by the Office of Foreign Assets 
Control and specifically refers to this part. No regulation, ruling, 
instruction, or license referring to this part shall be deemed to 
authorize any transaction prohibited by any provision of this chapter 
unless the regulation, ruling, instruction or license specifically 
refers to such provision.
    (c) Any regulation, ruling, instruction, or license authorizing any 
transaction otherwise prohibited under this part has the effect of 
removing a prohibition or prohibitions contained in this part from the 
transaction, but only to the extent specifically stated by its terms. 
Unless the regulation, ruling, instruction, or license otherwise 
specifies, such an authorization does not create any right, duty, 
obligation, claim, or interest in, or with respect to, any property 
which would not otherwise exist under ordinary principles of law.


Sec. 595.502  Exclusion from licenses and authorizations.

    The Director of the Office of Foreign Assets Control reserves the 
right to exclude any person, property, or transaction from the 
operation of any license, or from the privileges therein conferred, or 
to restrict the applicability thereof with respect to particular 
persons, property, transactions, or classes thereof. Such action shall 
be binding upon all persons receiving actual or constructive notice of 
such exclusion or restriction.


Sec. 595.503  Payments and transfers to blocked accounts in U.S. 
financial institutions.

    (a) Any payment of funds or transfer of credit or other financial 
or economic resources or assets into a blocked account in a U.S. 
financial institution is authorized, provided that a transfer from a 
blocked account pursuant to this authorization may only be made to 
another blocked account held in the same name on the books of the same 
U.S. financial institution. This authorization is subject to the 
condition that written notification from the U.S. financial institution 
receiving an authorized payment or transfer is furnished to the 
Compliance Programs Division, Office of Foreign Assets Control, U.S. 
Treasury Department, 1500 Pennsylvania Avenue, NW--Annex, Washington, 
DC 20220, within 10 days from the value date of the payment or 
transfer. This notification shall confirm that the payment or transfer 
has been deposited into a blocked account pursuant to this section and 
Sec. 595.203 and shall provide the account number, the name and address 
of the person in whose name the account is held and, if the account 
party is not a specially designated terrorist, the name of the 
specially designated terrorist having an interest in the account, the 
name and address of the transferee U.S. financial institution, the name 
and address of the transferor financial institution, the amount of the 
payment or transfer, the name and telephone number of a contact person 
at the transferee financial institution from whom compliance 
information may be obtained, and the name and telephone number of the 
person, registered with the Office of Foreign Assets Control pursuant 
to Sec. 595.603, responsible for the administration of blocked assets 
at the transferee financial institution from whom records on blocked 
assets may be obtained.
    (b) This section does not authorize any transfer from a blocked 
account within the United States to an account held outside the United 
States.


Sec. 595.504  Investment and reinvestment of certain funds.

    (a) U.S. financial institutions are hereby authorized and directed 
to invest and reinvest assets held in blocked accounts in the name of a 
specially designated terrorist, subject to the following conditions:
    (1) The assets representing such investments and reinvestments are 
credited to a blocked account or sub-account which is in the name of 
the specially designated terrorist and which is located in the United 
States or within 

[[Page 3811]]
the possession or control of a U.S. person; and
    (2) The proceeds of such investments and reinvestments are not 
credited to a blocked account or sub-account under any name or 
designation which differs from the name or designation of the specific 
blocked account or sub-account in which such funds or securities were 
held; and
    (3) No immediate financial or economic benefit or access accrues 
(e.g., through pledging or other use) to the specially designated 
terrorist.
    (b)(1) U.S. persons seeking to avail themselves of this 
authorization must register with the Office of Foreign Assets Control, 
Blocked Assets Section, before undertaking transactions authorized 
under this section.
    (2) Transactions conducted pursuant to this section must be 
reported to the Office of Foreign Assets Control, Blocked Assets 
Division, in a report filed no later than 10 business days following 
the last business day of the month in which the transactions occurred.


Sec. 595.505  Entries in certain accounts for normal service charges 
authorized.

    (a) U.S. financial institutions are hereby authorized to debit any 
blocked account with such U.S. financial institution in payment or 
reimbursement for normal service charges owed to such U.S. financial 
institution by the owner of such blocked account.
    (b) As used in this section, the term normal service charge shall 
include charges in payment or reimbursement for interest due; cable, 
telegraph, or telephone charges; postage costs; custody fees; small 
adjustment charges to correct bookkeeping errors; and, but not by way 
of limitation, minimum balance charges, notary and protest fees, and 
charges for reference books, photostats, credit reports, transcripts of 
statements, registered mail insurance, stationary and supplies, check 
books, and other similar items.


Sec. 585.506  Provision of certain legal services to a specially 
designated terrorist.

    (a) The provision to or on behalf of a specially designated 
terrorist of the legal services set forth in paragraph (b) of this 
section is authorized, provided that all receipts of payment therefor 
must be specifically licensed. The provision of any other legal 
services as interpreted in Sec. 595.406 requires the issuance of a 
specific license.
    (b) Specific licenses may be issued, on a case-by-case basis, 
authorizing receipt of payment of professional fees and reimbursement 
of incurred expenses for the following legal services by U.S. persons 
to a specially designated terrorist:
    (1) Provision of legal advice and counselling to a specially 
designated terrorist on the requirements of and compliance with the 
laws of any jurisdiction within the United States, provided that such 
advice and counselling is not provided to facilitate transactions in 
violation of this part;
    (2) Representation of a specially designated terrorist when named 
as a defendant in or otherwise made a party to domestic U.S. legal, 
arbitration, or administrative proceedings;
    (3) Initiation of domestic U.S. legal, arbitration, or 
administrative proceedings in defense of property interests subject to 
U.S. jurisdiction of a specially designated terrorist;
    (4) Representation of a specially designated terrorist before any 
federal agency with respect to the imposition, administration, or 
enforcement of U.S. sanctions against a specially designated terrorist; 
and
    (5) Provision of legal services in any other context in which 
prevailing U.S. law requires access to legal counsel at public expense.
    (c) 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 a property interest 
of a specially designated terrorist is prohibited unless specifically 
licensed in accordance with Sec. 595.202(e).


Sec. 595.507  Authorization of emergency medical services.

    The provision of nonscheduled emergency medical services to a 
specially designated terrorist located in the United States is 
authorized, provided that any payment for such services requires prior 
authorization by specific license.

Subpart F--Reports


Sec. 595.601  Required records.

    (a) Except as otherwise provided, every person engaging in any 
transaction subject to the provisions of this part shall keep a full 
and accurate record of each transaction engaged in, regardless of 
whether such transaction is effected pursuant to license or otherwise, 
and such record shall be available for examination for at least 5 years 
after the date of such transaction. Except as otherwise provided, every 
person holding property subject to Sec. 595.201 shall keep a full and 
accurate record of such property, and such record shall be available 
for examination for the period of time that such property is blocked 
and for at least 5 years after the date such property is unblocked.
    (b) Any person, other than an individual, required to maintain 
records pursuant to this section, must designate an individual to be 
responsible for providing information concerning such records to the 
Office of Foreign Assets Control when so requested.


Sec. 595.602  Reports to be furnished on demand.

    Every person is required to furnish under oath, in the form of 
reports or otherwise, from time to time and at any time as may be 
required, complete information relative to any transaction, regardless 
of whether such transaction is effected pursuant to license or 
otherwise, subject to the provisions of this part. Such reports may be 
required to include the production of any books of account, contracts, 
letters or other papers, connected with any such transaction or 
property, in the custody or control of the person required to make such 
reports. Reports with respect to transactions may be required either 
before or after such transactions are completed. The Director of 
Foreign Assets Control may, through any person or agency, conduct 
investigations, hold hearings, administer oaths, examine witnesses, 
receive evidence, take depositions, and require by subpoena the 
attendance and testimony of witnesses and the production of all books, 
papers, and documents relating to any matter under investigation, 
regardless of whether any report has been required or filed in 
connection therewith.


Sec. 595.603  Registration of persons holding blocked property subject 
to Sec. 595.201.

    (a) Any individual holding property subject to Sec. 595.201 must 
register with the Office of Foreign Assets Control, Blocked Assets 
Division by the later of February 12, 1996, or within 10 days after the 
date such property is received or becomes subject to Sec. 595.201.
    (b) Any person, other than an individual, holding property subject 
to Sec. 595.201 must register the name, title, address, and telephone 
number of the individual designated under Sec. 595.601(b) to be 
responsible for the administration of blocked assets, from whom the 
Office of Foreign Assets Control can obtain information and records. 
The registration shall be sent to the Blocked Assets Division, Office 
of Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania 
Avenue, NW--Annex, Washington, DC 20220, by the later of February 12, 
1996, 

[[Page 3812]]
or, unless notification is given pursuant to Sec. 595.503, 10 days 
after the date such property is received or becomes subject to 
Sec. 595.201.

Subpart G--Penalties


Sec. 595.701  Penalties.

    (a) Attention is directed to section 206 of the International 
Emergency Economic Powers Act (50 U.S.C. 1705), which provides that a 
civil penalty of not to exceed $10,000 may be imposed on any person who 
violates any license, order, or regulation issued under the 
International Emergency Economic Powers Act; and that whoever willfully 
violates any license, order, or regulation issued under the 
International Emergency Economic Powers Act, shall, upon conviction, be 
fined not more than $50,000, or, if a natural person, may be imprisoned 
for not more than 10 years, or both; and any officer, director, or 
agent of any corporation who knowingly participates in such violation 
may be punished by a like fine, imprisonment, or both. Section 206 of 
the International Emergency Economic Powers Act is applicable to 
violations of any provision of this part and to violations of the 
provisions of any license, ruling, regulation, order, direction, or 
instruction issued by or pursuant to the direction or authorization of 
the Secretary of the Treasury pursuant to this part or otherwise under 
the International Emergency Economic Powers Act.
    (b) Attention is directed to 18 U.S.C. 1001, which provides that 
whoever, in any matter within the jurisdiction of any department or 
agency of the United States, knowingly and willfully falsifies, 
conceals or covers up by any trick, scheme, or device a material fact, 
or makes any false, fictitious or fraudulent statements or 
representation or makes or uses any false writing or document knowing 
the same to contain any false, fictitious or fraudulent statement or 
entry, shall be fined not more than $10,000 or imprisoned not more than 
five years, or both.
    (d) Violations of this part may also be subject to relevant 
provisions of other applicable laws.


Sec. 595.702  Prepenalty notice.

    (a) When required. If the Director of the Office of Foreign Assets 
Control has reasonable cause to believe that there has occurred a 
violation of any provision of this part or a violation of the 
provisions of any license, ruling, regulation, order, direction or 
instruction issued by or pursuant to the direction or authorization of 
the Secretary of the Treasury pursuant to this part or otherwise under 
the International Emergency Economic Powers Act, and the Director 
determines that further proceedings are warranted, he shall issue to 
the person concerned a notice of his intent to impose a monetary 
penalty. The prepenalty notice shall be issued whether or not another 
agency has taken any action with respect to this matter.
    (b) Contents.--(1) Facts of violation. The prepenalty notice shall 
describe the violation, specify the laws and regulations allegedly 
violated, and state the amount of the proposed monetary penalty.
    (2) Right to make presentation. The prepenalty notice also shall 
inform the person of his right to make a written presentation within 30 
days of mailing of the notice as to why a monetary penalty should not 
be imposed, or, if imposed, why it should be in a lesser amount than 
proposed.


Sec. 595.703  Presentation responding to prepenalty notice.

    (a) Time within which to respond. The named person shall have 30 
days from the date of mailing of the prepenalty notice to make a 
written presentation to the Director of the Office of Foreign Assets 
Control.
    (b) Form and contents of written presentation. The written 
presentation need not be in any particular form, but shall contain 
information sufficient to indicate that it is in response to the 
prepenalty notice. It should contain responses to the allegations in 
the prepenalty notice and set forth the reasons why the person believes 
the penalty should not be imposed or, if imposed, why it should be in a 
lesser amount than proposed.


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.


Sec. 595.705  Administrative collection; referral to United States 
Department of Justice.

    In the event that the person named does not pay the penalty imposed 
pursuant to this part or make payment arrangements acceptable to the 
Director of the Office of Foreign Assets Control within 30 days of the 
mailing of the written notice of the imposition of the penalty, the 
matter may be referred for administrative collection measures by the 
Department of the Treasury or to the United States Department of 
Justice for appropriate action to recover the penalty in a civil suit 
in a Federal district court.

Subpart H--Procedures


Sec. 595.801  Licensing.

    (a) General licenses. General licenses have been issued authorizing 
under appropriate terms and conditions certain types of transactions 
which are subject to the prohibitions contained in this part. All such 
licenses in effect on the date of publication are set forth in subpart 
E of this part. It is the policy of the Office of Foreign Assets 
Control not to grant applications for specific licenses authorizing 
transactions to which the provisions of an outstanding general license 
are applicable. Persons availing themselves of certain general licenses 
may be required to file reports and statements in accordance with the 
instructions specified in those licenses. Failure to file such reports 
or statements will nullify the authority of the general license.
    (b) Specific licenses.--(1) General course of procedure. 
Transactions subject to the prohibitions contained in this part which 
are not authorized by general license may be effected only under 
specific licenses.
    (2) Applications for specific licenses. Applications for specific 
licenses to engage in any transactions prohibited by or pursuant to 
this part may be filed by letter with the Office of Foreign Assets 
Control. Any person having an interest in a transaction or proposed 
transaction may file an application for a license authorizing such 
transaction, but the applicant for a specific license is required to 
make full disclosure of all parties in interest to the transaction so 
that a decision on the application may be made with full knowledge of 
all relevant facts and so that the identity and location of the persons 
who know about the transaction may be easily ascertained in the event 
of inquiry.
    (3) Information to be supplied. The applicant must supply all 
information specified by relevant instructions and/or forms, and must 
fully disclose the 

[[Page 3813]]
names of all the parties who are concerned with or interested in the 
proposed transaction. If the application is filed by an agent, the 
agent must disclose the name of his principal(s). Such documents as may 
be relevant shall be attached to each application as a part of such 
application except that documents previously filed with the Office of 
Foreign Assets Control may, where appropriate, be incorporated by 
reference. Applicants may be required to furnish such further 
information as is deemed necessary to a proper determination by the 
Office of Foreign Assets Control. Any applicant or other party in 
interest desiring to present additional information or discuss or argue 
the application may do so at any time before or after decision. 
Arrangements for oral presentation should be made with the Office of 
Foreign Assets Control.
    (4) Effect of denial. The denial of a license does not preclude the 
reopening of an application or the filing of a further application. The 
applicant or any other party in interest may at any time request 
explanation of the reasons for a denial by correspondence or personal 
interview.
    (5) Reports under specific licenses. As a condition for the 
issuance of any license, the licensee may be required to file reports 
with respect to the transaction covered by the license, in such form 
and at such times and places as may be prescribed in the license or 
otherwise.
    (6) Issuance of license. Licenses will be issued by the Office of 
Foreign Assets Control acting on behalf of the Secretary of the 
Treasury or licenses may be issued by the Secretary of the Treasury 
acting directly or through any specifically designated person, agency, 
or instrumentality.
    (7) Address. License applications, reports, and inquiries should be 
addressed to the appropriate section or individual within the Office of 
Foreign Assets Control, or to its Director, at the following address: 
Office of Foreign Assets Control, U.S. Department of the Treasury, 1500 
Pennsylvania Avenue, N.W.--Annex, Washington, D.C. 20220.


Sec. 595.802  Decisions.

    The Office of Foreign Assets Control will advise each applicant of 
the decision respecting filed applications. The decision of the Office 
of Foreign Assets Control acting on behalf of the Secretary of the 
Treasury with respect to an application shall constitute final agency 
action.


Sec. 595.803  Amendment, modification, or revocation.

    The provisions of this part and any rulings, licenses, whether 
general or specific, authorizations, instructions, orders, or forms 
issued hereunder may be amended, modified, or revoked at any time.


Sec. 595.804  Rulemaking.

    (a) All rules and other public documents are issued by the 
Secretary of the Treasury upon recommendation of the Director of the 
Office of Foreign Assets Control. In general, rulemaking by the Office 
of Foreign Assets Control involves foreign affairs functions of the 
United States, and for that reason is exempt from the requirements 
under the Administrative Procedure Act (5 U.S.C. 553) for notice of 
proposed rulemaking, opportunity for public comment, and delay in 
effective date. Wherever possible, however, it is the practice of the 
Office of Foreign Assets Control to receive written submissions or hold 
informal consultations with interested parties before the issuance of 
any rule or other public document.
    (b) Any interested person may petition the Director of the Office 
of Foreign Assets Control in writing for the issuance, amendment, or 
repeal of any rule.


Sec. 595.805  Delegation by the Secretary of the Treasury.

    Any action which the Secretary of the Treasury is authorized to 
take pursuant to Executive Order 12947 or any further Executive orders 
relating to the national emergency declared in Executive Order 12947 
may be taken by the Director of the Office of Foreign Assets Control, 
or by any other person to whom the Secretary of the Treasury has 
delegated authority so to act.


Sec. 595.806  Rules governing availability of information.

    (a) The records of the Office of Foreign Assets Control which are 
required by the Freedom of Information Act (5 U.S.C. 552) to be made 
available to the public shall be made available in accordance with the 
definitions, procedures, payment of fees, and other provisions of the 
regulations on the Disclosure of Records of the Departmental Offices 
and of other bureaus and offices of the Department of the Treasury 
issued under 5 U.S.C. 552 and published at 31 CFR part 1.
    (b) The records of the Office of Foreign Assets Control which are 
required by the Privacy Act (5 U.S.C. 552a) to be made available to an 
individual shall be made available in accordance with the definitions, 
procedures, requirements for payment of fees, and other provisions of 
the Regulations on the Disclosure of Records of the Departmental 
Offices and of other bureaus and offices of the Department of the 
Treasury issued under 5 U.S.C. 552a and published at 31 CFR part 1.
    (c) Any form issued for use in connection with this part may be 
obtained in person or by writing to the Office of Foreign Assets 
Control, U.S. Department of the Treasury, 1500 Pennsylvania Avenue, 
N.W.--Annex, Washington, D.C. 20220, or by calling 202/622-2480.

Subpart I--Paperwork Reduction Act


Sec. 595.901  Paperwork Reduction Act notice.

    The information collection requirements in Secs. 595.503, 595.504, 
subpart F, and Secs. 595.703 and 595.801 have been approved by the 
Office of Management and Budget under the Paperwork Reduction Act and 
assigned control number 1505-0156.

    Dated: December 21, 1995.
R. Richard Newcomb,
Director, Office of Foreign Assets Control.
    Approved: January 4, 1996.
John P. Simpson
Deputy Assistant Secretary (Regulatory, Tariff & Trade Enforcement).
[FR Doc. 96-2183 Filed 1-29-96; 5:06 pm]
BILLING CODE 4810-25-F