[Federal Register Volume 61, Number 43 (Monday, March 4, 1996)]
[Rules and Regulations]
[Page 8216]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4899]



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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 535


Iranian Assets Control Regulations; Shams Pahlavi Assets 
Unblocked

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Final rule; amendment to the list of persons whose assets are 
subject to blocking.

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SUMMARY: The Office of Foreign Assets Control of the U.S. Department of 
the Treasury is amending section 535.217 of the Iranian Assets Control 
Regulations, 31 CFR Sec. 535.217, to remove the name Shams Pahlavi from 
Sec. 535.217(b). Shams Pahlavi, sister of Mohammed Reza Pahlavi, the 
former Shah of Iran, previously was identified in Sec. 535.217(b) as a 
person who had been served as a defendant in litigation brought by Iran 
in a court within the United States seeking the return of property 
alleged to belong to Iran. She therefore was identified as a person 
whose United States assets were blocked pursuant to the provisions of 
Sec. 535.217(a). Reference to Shams Pahlavi is now removed from 
Sec. 535.217(b) based upon the final termination of all pertinent 
litigation against her. Accordingly, her United States assets are no 
longer blocked pursuant to Sec. 535.217(a).

EFFECTIVE DATE: March 1, 1996.

FOR FURTHER INFORMATION CONTACT: Regarding the status of blocked 
assets, Loren L. Dohm, Blocked Assets Division (tel.: 202/622-2440); 
regarding legal questions, William B. Hoffman, Chief Counsel (tel.: 
202/622-2410); Office of Foreign Assets Control, Department of the 
Treasury, Washington, D.C. 20220.

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

    The Office of Foreign Assets Control is amending Sec. 535.217(b) of 
the Iranian Assets Control Regulations, 31 CFR part 535, to reflect 
changes in the status of litigation brought by Iran against close 
relatives of the former Shah of Iran seeking the return of property 
alleged to belong to Iran. In 1991, Shams Pahlavi was identified in 
Sec. 535.217(b) based on proof of service upon her in litigation of the 
type described in Sec. 535.217(a). Pursuant to that provision, all 
property and assets located in the United States within the control of 
Shams Pahlavi were blocked until all pertinent litigation against her 
was finally terminated. Because that litigation has been finally 
terminated, reference to Shams Pahlavi is deleted from Sec. 535.217(b).
    Because the Regulations involve a foreign affairs function, 
Executive Order 12866 and the provisions of the Administrative 
Procedure Act, 5 U.S.C. 553, requiring notice of proposed rulemaking, 
opportunity for public 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 before the issuance of any rule 
or other public document.

List of Subjects in 31 CFR Part 535

    Administrative practice and procedure, Banking, Banks, Blocking of 
assets, Currency, Foreign investment in the United States, Iran, 
Penalties, Reporting and recordkeeping requirements, Securities.
    For the reasons set forth in the preamble, 31 CFR part 535 is 
amended as follows:

PART 535--IRANIAN ASSETS CONTROL REGULATIONS

    1. The authority citation for Part 535 continues to read as 
follows:
    Authority: 50 U.S.C. 1701-1706; E.O. 12710, 44 FR 65729, 3 CFR, 
1979 Comp., p. 457; E.O. 12205, 45 FR 24099, 3 CFR, 1980 Comp., p. 248; 
E.O. 12211, 45 FR 26685, 3 CFR, 1980, Comp., p. 253; E.O. 12276, 46 FR 
7913, 3 CFR, 1981 Comp., p. 104; E.O. 12279, 46 FR 7919, 3 CFR 1981 
Comp., p. 109; E.O. 12280, 46 FR 7921, 3 CFR 1981 Comp., p. 110; E.O. 
12281, 46 FR 7923, 3 CFR, 1981 Comp., p. 112; E.O. 12282, 46 FR 7925, 3 
CFR, 1981 Comp., p. 113; E.O. 12282, 46 FR 7927, 3 CFR, 1981 Comp., p. 
113; E.O. 12283, 46 FR 7927, 3 CFR 1981 Comp., p. 114; and E.O. 12294, 
46 FR 14111, 3 CFR, 1981 Comp., p. 139.

Subpart B--Prohibitions

    2. Section 535.217 is amended by revising paragraph (b) to read as 
follows:


Sec. 535.201  Blocking of property of the former Shah of Iran and of 
certain Iranian nationals.

* * * * *
    (b) [No persons presently listed].
* * * * *

    Dated: February 1, 1996.
R. Richard Newcomb,
Director, Office of Foreign Assets Control.
    Approved: February 8, 1996.
Dennis M. O'Connell,
Acting Deputy Assistant Secretary (Regulatory, Tariff & Law 
Enforcement).
[FR Doc. 96-4899 Filed 3-1-96; 8:45 am]
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