[Federal Register Volume 64, Number 135 (Thursday, July 15, 1999)]
[Notices]
[Pages 38235-38236]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-18106]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


Proposed Collection; Electronic License Application Form

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on the Office of

[[Page 38236]]

Foreign Assets Control's Electronic License Application Form 
information collection, as required by the Paperwork Reduction Act of 
1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

DATES: Written comments should be received on or before September 13, 
1999 to be assured of consideration.

ADDRESSES: Direct all written comments to Dennis P. Wood, Chief, 
Compliance Programs Division, or William B. Hoffman, Chief Counsel, 
Office of Foreign Assets Control, Department of the Treasury, 1500 
Pennsylvania Avenue, NW, Annex-2nd Floor, Washington, DC 20220.

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
about the filings or procedures should be directed to Dennis P. Wood, 
Chief, Compliance Programs Division, (tel.: 202/622-2490), Office of 
Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania 
Avenue, NW, Annex-2nd Floor, Washington, DC 20220.

SUPPLEMENTARY INFORMATION:
    Title: Electronic Form for OFAC License Applications.
    OMB Number: 1505-0170.
    Abstract: Transactions prohibited pursuant to the Trading With The 
Enemy Act, 50 U.S.C. App. 1-44, and the International Emergency 
Economic Powers Act, 50 U.S.C. 1701, may be authorized by means of 
specific licenses issued by the Office of Foreign Assets control 
(OFAC). Such licenses are issued in response to applications submitted 
by persons or institutions whose property has been blocked or who wish 
to engage in transactions that would otherwise be prohibited. This 
form--which provides a standardized method for all applicants and is 
available in electron form on our website--was new upon OMB's initial 
approval in December 1998. Applicants are not required to use the form. 
However, its use greatly facilitates and speeds applicants' submissions 
and OFAC's processing of applications and obviates the need for 
applicants to write lengthy letters to OFAC, thus reducing the overall 
burden of the application process.
    Current Action: Extension.
    Type of Review: Extension.
    Affected Public: Individuals/businesses and other for-profit 
institutions/banking institutions.
    Estimated Number of Respondents: 2,751.
    Estimated Time Per Respondent: 30 minutes.
    Estimated Annual Burden Hours: 1,376.

Request for Comments

    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval. All comments will 
become a matter of public record. Comments are invited on: (a) Whether 
the collection of information is necessary for the proper performance 
of the agency's functions, including whether the information has 
practical utility; (b) the accuracy of the agency's estimate of the 
burden of the collection 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; and (e) estimates 
of capital or start-up costs and costs of operation, maintenance, and 
purchase of services to provide information.

    Dated: July 9, 1999.
Lois Holland,
Department Reports Management Officer, Department of the Treasury.
[FR Doc. 99-18106 Filed 7-14-99; 8:45 am]
BILLING CODE 4810-25-P