[Federal Register Volume 62, Number 99 (Thursday, May 22, 1997)]
[Presidential Documents]
[Pages 28301-28302]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-13704]



[[Page 28299]]

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Part XII





The President





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Executive Order 13047--Prohibiting New Investment in Burma
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  Federal Register / Vol. 62, No. 99 / Thursday, May 22, 1997 / 
Presidential Documents  

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 Title 3--
 The President

[[Page 28301]]

                Executive Order 13047 of May 20, 1997

                
Prohibiting New Investment in Burma

                By the authority vested in me as President by the 
                Constitution and the laws of the United States of 
                America, including section 570 of the Foreign 
                Operations, Export Financing, and Related Programs 
                Appropriations Act, 1997 (Public Law 104-208) (the 
                ``Act''), the International Emergency Economic Powers 
                Act (50 U.S.C. 1701 et seq.) (IEEPA), the National 
                Emergencies Act (50 U.S.C. 1601 et seq.), and section 
                301 of title 3 of the United States Code;

                I, WILLIAM J. CLINTON, President of the United States 
                of America, hereby determine and certify that, for 
                purposes of section 570(b) of the Act, the Government 
                of Burma has committed large-scale repression of the 
                democratic opposition in Burma after September 30, 
                1996, and further determine that the actions and 
                policies of the Government of Burma constitute an 
                unusual and extraordinary threat to the national 
                security and foreign policy of the United States and 
                declare a national emergency to deal with that threat.

                Section 1. Except to the extent provided in 
                regulations, orders, directives, or licenses that may 
                be issued in conformity with section 570 of the Act and 
                pursuant to this order, I hereby prohibit new 
                investment in Burma by United States persons.

                Sec. 2. The following are also prohibited, except to 
                the extent provided in section 203(b) of IEEPA (50 
                U.S.C. 1702(b)) or in regulations, orders, directives, 
                or licenses that may be issued pursuant to this order:

                    (a) any approval or other facilitation by a United 
                States person, wherever located, of a transaction by a 
                foreign person where the transaction would constitute 
                new investment in Burma prohibited by this order if 
                engaged in by a United States person or within the 
                United States; and
                    (b) any transaction by a United States person or 
                within the United States that evades or avoids, or has 
                the purpose of evading or avoiding, or attempts to 
                violate, any of the prohibitions set forth in this 
                order.

                Sec. 3. Nothing in this order shall be construed to 
                prohibit the entry into, performance of, or financing 
                of a contract to sell or purchase goods, services, or 
                technology, except:

                    (a) where the entry into such contract on or after 
                the effective date of this order is for the general 
                supervision and guarantee of another person's 
                performance of a contract for the economic development 
                of resources located in Burma; or
                    (b) where such contract provides for payment, in 
                whole or in part, in:
                       (i) shares of ownership, including an equity 
                interest, in the economic development of resources 
                located in Burma; or
                       (ii) participation in royalties, earnings, or 
                profits in the economic development of resources 
                located in Burma.

                Sec. 4. For the purposes of this order:

                    (a) the term ``person'' means an individual or 
                entity;
                    (b) the term ``entity'' means a partnership, 
                association, trust, joint venture, corporation, or 
                other organization;
                    (c) the term ``United States person'' means any 
                United States citizen, permanent resident alien, 
                juridical person organized under the laws of the

[[Page 28302]]

                United States (including foreign branches), or any 
                person in the United States;
                    (d) the term ``new investment'' means any of the 
                following activities, if such an activity is undertaken 
                pursuant to an agreement, or pursuant to the exercise 
                of rights under such an agreement, that is entered into 
                with the Government of Burma or a nongovernmental 
                entity in Burma on or after the effective date of this 
                order:
                       (i) the entry into a contract that includes the 
                economic development of resources located in Burma;
                       (ii) the entry into a contract providing for the 
                general supervision and guarantee of another person's 
                performance of a contract that includes the economic 
                development of resources located in Burma;
                       (iii) the purchase of a share of ownership, 
                including an equity interest, in the economic 
                development of resources located in Burma; or
                       (iv) the entry into a contract providing for the 
                participation in royalties, earnings, or profits in the 
                economic development of resources located in Burma, 
                without regard to the form of the participation;
                    (e) the term ``resources located in Burma'' means 
                any resources, including natural, agricultural, 
                commercial, financial, industrial, and human resources, 
                located within the territory of Burma, including the 
                territorial sea, or located within the exclusive 
                economic zone or continental shelf of Burma;
                    (f) the term ``economic development of resources 
                located in Burma'' shall not be construed to include 
                not-for-profit educational, health, or other 
                humanitarian programs or activities.

                Sec. 5. I hereby delegate to the Secretary of State the 
                functions vested in me under section 570(c) and (d) of 
                the Act, to be exercised in consultation with the heads 
                of other agencies of the United States Government as 
                appropriate.

                Sec. 6. The Secretary of the Treasury, in consultation 
                with the Secretary of State, is hereby authorized to 
                take such actions, including the promulgation of rules 
                and regulations, and to employ all powers granted to me 
                by section 570(b) of the Act and by IEEPA, as may be 
                necessary to carry out the purposes of this order. The 
                Secretary of the Treasury may redelegate the authority 
                set forth in this order to other officers and agencies 
                of the United States Government. All agencies of the 
                United States Government are hereby directed to take 
                all appropriate measures within their authority to 
                carry out the provisions of this order.

                Sec. 7. Nothing contained in this order shall create 
                any right or benefit, substantive or procedural, 
                enforceable by any party against the United States, its 
                agencies or instrumentalities, its officers or 
                employees, or any other person.

                Sec. 8. (a) This order shall take effect at 12:01 a.m., 
                eastern daylight time, May 21, 1997.

                    (b) This order shall be transmitted to the Congress 
                and published in the Federal Register.

                    (Presidential Sig.)

                THE WHITE HOUSE,

                     May 20, 1997.

[FR Doc. 97-13704
Filed 5-21-97; 8:45 am]
Billing code 3195-01-P