[Federal Register Volume 79, Number 125 (Monday, June 30, 2014)]
[Rules and Regulations]
[Pages 37106-37121]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-14841]



[[Page 37105]]

Vol. 79

Monday,

No. 125

June 30, 2014

Part IV





 Department of the Treasury





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Office of Foreign Assets Control





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31 CFR Part 537





Burmese Sanctions Regulations; Final Rule

  Federal Register / Vol. 79, No. 125 / Monday, June 30, 2014 / Rules 
and Regulations  

[[Page 37106]]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 537


Burmese Sanctions Regulations

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Final rule.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is amending and reissuing in their entirety the Burmese 
Sanctions Regulations to implement Executive Order 13448 of October 18, 
2007, ``Blocking Property and Prohibiting Certain Transactions Related 
to Burma,'' Executive Order 13464 of April 30, 2008, ``Blocking 
Property and Prohibiting Certain Transactions Related to Burma,'' 
Executive Order 13619 of July 11, 2012, ``Blocking Property of Persons 
Threatening the Peace, Security, or Stability of Burma,'' and Executive 
Order 13651 of August 6, 2013, ``Prohibiting Certain Imports of Burmese 
Jadeite and Rubies.''

DATES: Effective: June 30, 2014.

FOR FURTHER INFORMATION CONTACT: Assistant Director for Licensing, 
tel.: 202-622-2480, Assistant Director for Policy, tel.: 202-622-2746, 
Assistant Director for Regulatory Affairs, tel.: 202-622-4855, 
Assistant Director for Sanctions Compliance & Evaluation, tel.: 202-
622-2490, Office of Foreign Assets Control, or Chief Counsel (Foreign 
Assets Control), tel.: 202-622-2410, Office of the General Counsel, 
Department of the Treasury (not toll free numbers).

SUPPLEMENTARY INFORMATION:

Electronic and Facsimile Availability

    This document and additional information concerning OFAC are 
available from OFAC's Web site (www.treasury.gov/ofac). Certain general 
information pertaining to OFAC's sanctions programs also is available 
via facsimile through a 24-hour fax-on-demand service, tel.: 202-622-
0077.

Background

    On May 20, 1997, the President issued Executive Order 13047 (62 FR 
28301, May 22, 1997) (E.O. 13047), determining that the Government of 
Burma, then ruled by a military junta, had committed large-scale 
repression of the democratic opposition in Burma and declaring a 
national emergency to deal with the unusual and extraordinary threat 
posed by the actions and policies of that government. E.O. 13047, 
issued under the authority of, inter alia, section 570 of the Foreign 
Operations, Export Financing, and Related Programs Appropriations Act, 
1997 (Pub. L. 104-208) (section 570), and the International Emergency 
Economic Powers Act (50 U.S.C. 1701-1706) (IEEPA), prohibits new 
investment in Burma by a U.S. person and any facilitation by a U.S. 
person of new investment in Burma by a foreign person. Section 570 
provides the President with the authority to waive the new investment 
prohibition in that section in the national security interests of the 
United States.
    On July 28, 2003, the President signed into law the Burmese Freedom 
and Democracy Act of 2003 (Pub. L. 108-61) (BFDA) to further sanction 
the military junta then ruling Burma. The BFDA required the imposition, 
subject to annual renewal, of a ban on the importation into the United 
States of any article that is a product of Burma. To implement the BFDA 
and to take additional steps with respect to the national emergency 
declared in E.O. 13047, the President issued Executive Order 13310 (68 
FR 44853, July 30, 2003) (E.O. 13310), also on July 28, 2003. E.O. 
13310 blocks, with certain exceptions, all property and interests in 
property of the persons listed in its Annex and persons determined by 
the Secretary of the Treasury, in consultation with the Secretary of 
State, to meet the criteria set forth in E.O. 13310. E.O. 13310 also 
prohibits the exportation or reexportation to Burma of financial 
services from the United States or by a U.S. person, except as 
exempted, licensed, or authorized. While E.O. 13310 also prohibited the 
importation into the United States of any article that is a product of 
Burma, that prohibition has been revoked, as discussed in more detail 
below.
    On October 18, 2007, the President issued Executive Order 13448 (72 
FR 60223, October 23, 2007) (E.O. 13448), expanding the scope of the 
national emergency declared in E.O. 13047 and blocking, with certain 
exceptions, all property and interests in property of the persons 
listed in the Annex to E.O. 13448 and persons determined by the 
Secretary of the Treasury, after consultation with the Secretary of 
State, to meet the criteria set forth in E.O. 13448.
    In order to take additional steps with respect to the national 
emergency declared in E.O. 13047 and expanded in E.O. 13448, the 
President issued Executive Order 13464 (73 FR 24491, May 2, 2008) (E.O. 
13464) on April 30, 2008. E.O. 13464 blocks all property and interests 
in property of the persons listed in its Annex and persons determined 
by the Secretary of the Treasury, after consultation with the Secretary 
of State, to meet the criteria set forth in E.O. 13464.
    On July 29, 2008, the President signed into law the Tom Lantos 
Block Burmese JADE (Junta's Anti-Democratic Efforts) Act of 2008 (Pub. 
L. 110-286) (JADE Act), which, among other things, imposes mandatory 
blocking and financial sanctions on certain categories of persons 
described in the JADE Act. The JADE Act also amended the BFDA to 
require a prohibition on the importation into the United States of 
jadeite or rubies mined or extracted from Burma and articles of jewelry 
containing such jadeite or rubies and the imposition of certain 
conditions on the importation into the United States of jadeite or 
rubies mined or extracted from a country other than Burma and articles 
of jewelry containing such jadeite or rubies. The importation 
provisions of the BFDA, as amended by the JADE Act, required annual 
renewal, which did not occur in 2013.
    On July 11, 2012, the President issued Executive Order 13619 (77 FR 
41243, July 13, 2012) (E.O. 13619), modifying the scope of the national 
emergency declared in E.O. 13047 and blocking all property and 
interests in property of persons determined by the Secretary of the 
Treasury, in consultation with or at the recommendation of the 
Secretary of State, to meet the criteria set forth in E.O. 13619.
    Also on July 11, 2012, in response to historic reforms in Burma, 
the U.S. Government took a number of steps to authorize new U.S. 
investment in Burma and the exportation or reexportation of U.S. 
financial services to Burma. OFAC issued and made available on its Web 
site a general license authorizing the exportation or reexportation of 
financial services to Burma from the United States or by a U.S. person, 
subject to certain limitations. The Department of State, pursuant to a 
delegation of authority from the President, waived the ban on new U.S. 
investment in Burma set forth in section 570. Consistent with this 
waiver, OFAC issued and made available on its Web site a general 
license authorizing new investment in Burma, subject to certain 
limitations and requirements.
    The Department of State, pursuant to a delegation of authority from 
the President, subsequently waived the importation prohibitions set 
forth in section 3(a) of the BFDA. Consistent with this waiver, on 
November 16, 2012, OFAC issued and made available on its Web site a 
general license authorizing the importation into the United States of 
any article that is a product of Burma,

[[Page 37107]]

subject to certain limitations. This general license did not authorize 
the importation into the United States of jadeite and rubies and of 
articles of jewelry containing them, which continued to be prohibited.
    On February 22, 2013, OFAC issued and made available on its Web 
site a general license authorizing U.S. persons to conduct most 
transactions, including opening and maintaining accounts and conducting 
other financial services involving four of Burma's major financial 
institutions included on OFAC's Specially Designated Nationals and 
Blocked Persons List (SDN List): Asia Green Development Bank, 
Ayeyarwady Bank, Myanma Economic Bank, and Myanma Investment and 
Commercial Bank.
    On August 6, 2013, in light of the expiration of the BFDA 
importation ban, as amended by the JADE Act, the President issued 
Executive Order 13651 (78 FR 48793, August 9, 2013) (E.O. 13651) 
revoking the provisions of E.O. 13310 implementing the broad ban on 
importation of products of Burma. However, due to continuing concerns, 
including with respect to labor and human rights in specific sectors, 
E.O. 13651 reinstates the prohibition that was originally imposed by 
the JADE Act amendments to the BFDA on the importation into the United 
States of any jadeite or rubies mined or extracted from Burma and any 
articles of jewelry containing jadeite or rubies mined or extracted 
from Burma. Also in E.O. 13651, the President, pursuant to Section 5(i) 
of the JADE Act, waived the blocking and financial sanctions provisions 
of Section 5(b) of the JADE Act. Except as authorized by or exempt from 
the Burmese Sanctions Regulations, 31 CFR part 537 (the 
``Regulations''), transactions involving persons whose property and 
interests in property are blocked pursuant to E.O. 13310, E.O. 13448, 
E.O. 13464, or E.O. 13619 continue to be prohibited pursuant to the 
Regulations.
    The Regulations, originally issued in 1998 to implement E.O. 13047, 
were amended and reissued in their entirety in 2005 to implement E.O. 
13310. OFAC now is further amending the Regulations to implement E.O. 
13448, E.O. 13464, E.O. 13619, and E.O. 13651. Due to the extensive 
nature of these amendments, OFAC is again reissuing the Regulations in 
their entirety.
    Subpart A of the Regulations clarifies the relation of this part to 
other laws and regulations. Subpart B of the Regulations implements the 
prohibitions contained in E.O. 13047, E.O. 13310, E.O. 13448, E.O. 
13464, E.O. 13619, and E.O. 13651. Section 537.201(a)(1) blocks, with 
certain exceptions, all property and interests in property that are in 
the United States, that come within the United States, or that are or 
come within the possession or control of any United States person, 
including any foreign branch, of: (1) Any person listed in the Annexes 
to E.O. 13310, E.O. 13448, or E.O. 13464; and (2) any person determined 
by the Secretary of the Treasury, in consultation with the Secretary of 
State, to meet the criteria set forth in any of those Executive orders. 
Section 537.201(a)(2) blocks, with certain exceptions, all property and 
interests in property of any person determined by the Secretary of the 
Treasury, in consultation with or at the recommendation of the 
Secretary of State, to meet the criteria set forth in E.O. 13619. 
Persons listed in the Annexes to E.O. 13310, E.O. 13448, or E.O. 13464, 
designated by or under the authority of the Secretary of the Treasury 
pursuant to E.O. 13310, E.O. 13448, E.O. 13464, or E.O. 13619, or 
otherwise subject to the blocking provisions of these authorities are 
referred to throughout the Regulations as ``persons whose property and 
interests in property are blocked pursuant to Sec.  537.201(a).'' The 
names of persons listed in the Annexes to E.O. 13310, E.O. 13448, or 
E.O. 13464 or designated pursuant to E.O. 13310, E.O. 13448, E.O. 
13464, or E.O. 13619 are published on the SDN List, which is accessible 
through the following page on OFAC's Web site: www.treasury.gov/sdn.
    Section 537.202 of subpart B prohibits the exportation or 
reexportation of financial services to Burma from the United States or 
by a U.S. person, wherever located. Note, however, that new section 
537.529 contains a general license authorizing the exportation or 
reexportation of financial services to Burma, subject to certain 
limitations.
    Section 537.203 of subpart B prohibits the importation into the 
United States of any jadeite or rubies mined or extracted from Burma 
and any articles of jewelry containing jadeite or rubies mined or 
extracted from Burma.
    Section 537.204 of subpart B prohibits new investment in Burma. 
Note, however, that new section 537.530 contains a general license 
authorizing new investment in Burma by U.S. persons, subject to certain 
limitations and requirements.
    Section 537.205 of subpart B prohibits any approval, financing, 
facilitation, or guarantee by a U.S. person, wherever located, of a 
foreign person's transaction where the transaction would be prohibited 
by section 537.202 or 537.204 of this part if performed by a U.S. 
person or within the United States. Section 537.206 prohibits any 
transaction by a U.S. person or within the United States that evades or 
avoids, has the purpose of evading or avoiding, causes a violation of, 
or attempts to violate any of the prohibitions set forth in the 
Regulations, and any conspiracy formed to violate such prohibitions.
    Sections 537.207 and 537.208 of subpart B detail the effect of 
transfers of blocked property in violation of the Regulations and set 
forth the requirement to hold blocked funds, such as currency, bank 
deposits, or liquidated financial obligations, in blocked interest-
bearing accounts. Section 537.209 provides that all expenses incident 
to the maintenance of blocked physical property shall be the 
responsibility of the owners or operators of such property, and that 
such expenses shall not be met from blocked funds, unless otherwise 
authorized. The section further provides that blocked property may, in 
OFAC's discretion, be sold or liquidated and the net proceeds placed in 
a blocked interest-bearing account in the name of the owner of the 
property.
    Exemptions from certain prohibitions contained in the Regulations 
are set forth in section 537.210 of subpart B, including, pursuant to 
E.O. 13619, a new exemption for the official business of the U.S. 
Government.
    Subpart C defines key terms used throughout the Regulations, and 
subpart D contains interpretive sections regarding the Regulations. 
Section 537.416 of subpart D explains that the property and interests 
in property of an entity are blocked if the entity is 50 percent or 
more owned by a person whose property and interests in property are 
blocked, whether or not the name of the entity is incorporated into the 
SDN List.
    Transactions otherwise prohibited under the Regulations but found 
to be consistent with U.S. policy may be authorized by one of the 
general licenses contained in subpart E of the Regulations or by a 
specific license issued pursuant to the procedures described in subpart 
E of 31 CFR part 501. Subpart E of the Regulations also contains 
certain statements of specific licensing policy. Several sections in 
subpart E of the Regulations have been removed and reserved. In some 
cases activities previously authorized in those sections, including 
certain importations, are no longer prohibited. In other cases, 
including certain financial transactions, the current licensing policy 
is now reflected in new sections 537.529 and 537.531, which authorize 
the

[[Page 37108]]

exportation or reexportation of financial services to Burma and certain 
transactions involving financial institutions included on the SDN List, 
respectively. In light of the new general licenses authorizing the 
exportation or reexportation of financial services to Burma and certain 
transactions involving financial institutions included on the SDN List, 
the general license formerly found in section 537.525, which broadly 
authorized transactions, including with persons whose property or 
interests in property are blocked pursuant to section 537.201(a), by 
U.S. citizens permanently residing in Burma, has been removed.
    Subpart F of the Regulations refers to subpart C of part 501 for 
applicable recordkeeping and reporting requirements. Subpart G 
describes the civil and criminal penalties applicable to violations of 
the Regulations, as well as the procedures governing the potential 
imposition of a civil monetary penalty. Subpart G also refers to 
Appendix A of part 501 for a more complete description of these 
procedures.
    Subpart H of the Regulations refers to subpart E of part 501 for 
applicable provisions relating to administrative procedures and 
contains a delegation of authority by the Secretary of the Treasury. 
Subpart I sets forth a Paperwork Reduction Act notice.

Public Participation

    Because 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 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.

Paperwork Reduction Act

    The collections of information related to the Regulations are 
contained in 31 CFR part 501 (the ``Reporting, Procedures and Penalties 
Regulations''). Pursuant to the Paperwork Reduction Act of 1995 (44 
U.S.C. 3507), those collections of information have been approved by 
the Office of Management and Budget under control number 1505-0164. 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.

List of Subjects in 31 CFR Part 537

    Administrative practice and procedure, Banks, Banking, Blocking of 
assets, Burma, Credit, Exportation, Exports, Foreign trade, 
Importation, Imports, Investments, Jadeite, Loans, New investment, 
Penalties, Reporting and recordkeeping requirements, Rubies, 
Securities, Services, Specially Designated Nationals.

    For the reasons set forth in the preamble, the Department of the 
Treasury's Office of Foreign Assets Control revises part 537 of 31 CFR 
chapter V to read as follows:

PART 537--BURMESE SANCTIONS REGULATIONS

Subpart A--Relation of This Part to Other Laws and Regulations
537.101 Relation of this part to other laws and regulations.
Subpart B--Prohibitions
537.201 Prohibited transactions involving blocked property.
537.202 Prohibited exportation or reexportation of financial 
services to Burma.
537.203 Prohibited importation of Burmese jadeite and rubies into 
the United States.
537.204 Prohibited new investment in Burma.
537.205 Prohibited facilitation.
537.206 Evasions; attempts; causing violations; conspiracies.
537.207 Effect of transfers violating the provisions of this part.
537.208 Holding of funds in interest-bearing accounts; investment 
and reinvestment.
537.209 Expenses of maintaining blocked physical property; 
liquidation of blocked property.
537.210 Exempt transactions.
Subpart C--General Definitions
537.300 Applicability of definitions.
537.301 Blocked account; blocked property.
537.302 Economic development of resources located in Burma.
537.303 Effective date.
537.304 Entity.
537.305 Exportation or reexportation of financial services to Burma.
537.306 Foreign person.
537.307 Government of Burma.
537.308 Information or informational materials.
537.309 Interest.
537.310 Licenses; general and specific.
537.311 New investment.
537.312 Nongovernmental entity in Burma.
537.313 Person.
537.314 [Reserved]
537.315 Property; property interest.
537.316 Resources located in Burma.
537.317 Transfer.
537.318 United States.
537.319 U.S. depository institution.
537.320 U.S. financial institution.
537.321 United States person; U.S. person.
537.322 U.S. registered broker or dealer in securities.
537.323 U.S. registered money transmitter.
537.324 Jadeite.
537.325 Rubies.
537.326 Articles of jewelry containing jadeite or rubies.
537.327 Financial, material, or technological support.
537.328 OFAC.
Subpart D--Interpretations
537.401 Reference to amended sections.
537.402 Effect of amendment.
537.403 Termination and acquisition of an interest in blocked 
property.
537.404 Transactions ordinarily incident to a licensed transaction.
537.405 Provision of services.
537.406 Offshore transactions involving blocked property.
537.407 Payments from blocked accounts to satisfy obligations 
prohibited.
537.408 Setoffs prohibited.
537.409 Activities under pre-May 21, 1997 agreements.
537.410 Contracts and subcontracts regarding economic development of 
resources in Burma.
537.411 [Reserved]
537.412 Investments in entities involved in economic development 
projects in Burma.
537.413 [Reserved]
537.414 Charitable contributions.
537.415 Credit extended and cards issued by U.S. financial 
institutions to a person whose property and interests in property 
are blocked.
537.416 Entities owned by a person whose property and interests in 
property are blocked.
537.417 Importation into a bonded warehouse or foreign trade zone.
537.418 Facilitating new investment.
Subpart E--Licenses, Authorizations, and Statements of Licensing Policy
537.501 General and specific licensing procedures.
537.502 Effect of license or authorization.
537.503 Exclusion from licenses.
537.504 Payments and transfers to blocked accounts in U.S. financial 
institutions.
537.505 Entries in certain accounts for normal service charges 
authorized.
537.506 Investment and reinvestment of certain funds.
537.507 Provision of certain legal services authorized.
537.508 Authorization of emergency medical services.
537.509 Official activities of certain international organizations 
authorized.
537.510-537.518 [Reserved]
537.519 Activities undertaken pursuant to certain pre-May 21, 1997 
agreements.
537.520-537.521 [Reserved]
537.522 Certain transactions related to patents, trademarks, 
copyrights, and other intellectual property authorized.
537.523-537.525 [Reserved]
537.526 Transactions necessary and ordinarily incident to publishing 
authorized.
537.527 [Reserved]
537.528 Payments for legal services from funds originating outside 
the United States authorized.
537.529 Exportation or reexportation of financial services to Burma 
authorized.

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537.530 New investment in Burma by U.S. persons authorized.
537.531 Certain transactions involving Asia Green Development Bank, 
Ayeyarwady Bank, Myanma Economic Bank, and Myanma Investment and 
Commercial Bank authorized.
Subpart F--Reports
537.601 Records and reports.
Subpart G--Penalties
537.701 Penalties.
537.702 Pre-Penalty Notice; settlement.
537.703 Penalty imposition.
537.704 Administrative collection; referral to United States 
Department of Justice.
Subpart H--Procedures
537.801 Procedures.
537.802 Delegation by the Secretary of the Treasury.
Subpart I--Paperwork Reduction Act
537.901 Paperwork Reduction Act notice.

    Authority:  3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C 1601-1651, 
1701-1706; Pub. L. 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); 
Sec. 570, Pub. L. 104-208, 110 Stat. 3009; Pub. L. 110-96, 121 Stat. 
1011 (50 U.S.C. 1701 note); Pub. L. 110-286, 122 Stat. 2632 (50 
U.S.C. 1701 note); E.O. 13047, 62 FR 28301, 3 CFR, 1997 Comp., p. 
202; E.O. 13310, 68 FR 44853, 3 CFR, 2003 Comp., p. 241; E.O. 13448, 
72 FR 60223, 3 CFR, 2007 Comp., p. 304; E.O. 13464, 73 FR 24491, 3 
CFR, 2008 Comp., p. 189; E.O. 13619, 77 FR 41243, 3 CFR, 2012 Comp., 
p. 279; E.O. 13651, 78 FR 48793 (August 9, 2013); Determination No. 
2009-11, 74 FR 3957, 3 CFR, 2009 Comp., p. 330.

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


Sec.  537.101  Relation of this part to other laws and regulations.

    This part is separate from, and independent of, the other parts of 
this chapter, with the exception of part 501 of this chapter, the 
recordkeeping and reporting requirements and license application and 
other procedures of which apply to this part. Actions taken pursuant to 
part 501 of this chapter with respect to the prohibitions contained in 
this part are considered actions taken pursuant to this part. Differing 
foreign policy and national security circumstances 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. 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.  537.201  Prohibited transactions involving blocked property.

    (a)(1) All property and interests in property that are in the 
United States, that come within the United States, or that are or come 
within the possession or control of any United States person, including 
any foreign branch, of the following persons are blocked and may not be 
transferred, paid, exported, withdrawn, or otherwise dealt in:
    (i) The persons listed in the Annex to Executive Order 13310 of 
July 28, 2003 (E.O. 13310), the Annex to Executive Order 13448 of 
October 18, 2007 (E.O. 13448), or the Annex to Executive Order 13464 of 
April 30, 2008 (E.O. 13464); and
    (ii) Any person determined by the Secretary of the Treasury, in 
consultation with the Secretary of State:
    (A) To be a senior official of the Government of Burma, the State 
Peace and Development Council of Burma, the Union Solidarity and 
Development Association of Burma, or any successor entity to any of the 
foregoing;
    (B) To be responsible for, or to have participated in, human rights 
abuses related to political repression in Burma;
    (C) To be engaged, or to have engaged, in activities facilitating 
public corruption by senior officials of the Government of Burma;
    (D) To be a spouse or dependent child of any person whose property 
and interests in property are blocked pursuant to E.O. 13310 or E.O. 
13448;
    (E) To be owned or controlled by, directly or indirectly, the 
Government of Burma or an official or officials of the Government of 
Burma;
    (F) To have materially assisted, sponsored, or provided financial, 
material, or technological support for, or goods or services in support 
of, the Government of Burma, the State Peace and Development Council of 
Burma, the Union Solidarity and Development Association of Burma, any 
successor entity to any of the foregoing, any senior official of any of 
the foregoing, or any person whose property and interests in property 
are blocked pursuant to this paragraph (a)(1); or
    (G) To be owned or controlled by, or to have acted or purported to 
act for or on behalf of, directly or indirectly, any person whose 
property and interests in property are blocked pursuant to this 
paragraph (a)(1).

    Note to Sec.  537.201(a)(1):  The Department of State has 
determined that the State Peace and Development Council of Burma no 
longer exists.

    (2) All property and interests in property that are in the United 
States, that come within the United States, or that are or come within 
the possession or control of any United States person, including any 
foreign branch, of the following persons are blocked and may not be 
transferred, paid, exported, withdrawn, or otherwise dealt in: Any 
person determined by the Secretary of the Treasury, in consultation 
with or at the recommendation of the Secretary of State:
    (i) To have engaged in acts that directly or indirectly threaten 
the peace, security, or stability of Burma, such as actions that have 
the purpose or effect of undermining or obstructing the political 
reform process or the peace process with ethnic minorities in Burma;
    (ii) To be responsible for or complicit in, or responsible for 
ordering, controlling, or otherwise directing, or to have participated 
in, the commission of human rights abuses in Burma;
    (iii) To have, directly or indirectly, imported, exported, 
reexported, sold, or supplied arms or related materiel from North Korea 
or the Government of North Korea to Burma or the Government of Burma;
    (iv) To be a senior official of an entity that has engaged in the 
acts described in paragraphs (a)(2)(i) through (iii) of this section;
    (v) To have materially assisted, sponsored, or provided financial, 
material, or technological support for, or goods or services to or in 
support of, the acts described in paragraphs (a)(2)(i) through (iii) of 
this section or any person whose property and interests in property are 
blocked pursuant to this paragraph (a)(2); or
    (vi) To be owned or controlled by, or to have acted or purported to 
act for or on behalf of, directly or indirectly, any person whose 
property and interests in property are blocked pursuant to this 
paragraph (a)(2).

    Note 1 to paragraph (a) of Sec.  537.201:  The names of persons 
listed in or designated pursuant to E.O. 13310, E.O. 13448, E.O. 
13464, or Executive Order 13619 of July 11, 2012, whose property and 
interests in property are blocked pursuant to paragraph (a) of this 
section, are published in the Federal Register and incorporated into 
OFAC's Specially Designated Nationals and Blocked Persons List (SDN 
List) with the identifier ``[BURMA].'' The SDN List is accessible 
through the following page on OFAC's Web site: www.treasury.gov/sdn. 
Additional information pertaining to the SDN List can be found in 
Appendix A to this chapter. See Sec.  537.416 concerning entities 
that may not be listed on the SDN List but whose property and 
interests in property are nevertheless blocked pursuant to paragraph 
(a) of this section.



[[Page 37110]]


    Note 2 to paragraph (a) of Sec.  537.201:  The International 
Emergency Economic Powers Act (50 U.S.C. 1701-1706), in section 203 
(50 U.S.C. 1702), authorizes the blocking of property and interests 
in property of a person during the pendency of an investigation. The 
names of persons whose property and interests in property are 
blocked pending investigation pursuant to paragraph (a) of this 
section also are published in the Federal Register and incorporated 
into the SDN List with the identifier ``[BPI-BURMA].''


    Note 3 to paragraph (a) of Sec.  537.201:  Sections 501.806 and 
501.807 of this chapter describe the procedures to be followed by 
persons seeking, respectively, the unblocking of funds that they 
believe were blocked due to mistaken identity, or administrative 
reconsideration of their status as persons whose property and 
interests in property are blocked pursuant to paragraph (a) of this 
section.

    (b) The prohibitions in paragraph (a) of this section include, but 
are not limited to, prohibitions on the following transactions:
    (1) The making of any contribution or provision of funds, goods, or 
services by, to, or for the benefit of any person whose property and 
interests in property are blocked pursuant to paragraph (a) of this 
section; and
    (2) The receipt of any contribution or provision of funds, goods, 
or services from any person whose property and interests in property 
are blocked pursuant to paragraph (a) of this section.
    (c) Unless authorized by this part or by a specific license 
expressly referring to this section, any dealing in any security (or 
evidence thereof) held within the possession or control of a U.S. 
person and either registered or inscribed in the name of, or known to 
be held for the benefit of, or issued by, any person whose property and 
interests in property are blocked pursuant to paragraph (a) of this 
section is prohibited. This prohibition includes but is not limited to 
the transfer (including the transfer on the books of any issuer or 
agent thereof), disposition, transportation, importation, exportation, 
or withdrawal of, or the endorsement or guaranty of signatures on, any 
such security on or after the effective date. This prohibition applies 
irrespective of the fact that at any time (whether prior to, on, or 
subsequent to the effective date) the registered or inscribed owner of 
any such security may have or might appear to have assigned, 
transferred, or otherwise disposed of the security.
    (d) The prohibitions in paragraph (a) of this section apply except 
to the extent transactions are authorized by regulations, orders, 
directives, rulings, instructions, licenses, or otherwise, and 
notwithstanding any contract entered into or any license or permit 
granted prior to the effective date.

    Note to Sec.  537.201:  Section 5(b) of the Tom Lantos Block 
Burmese JADE (Junta's Anti-Democratic Efforts) Act of 2008 (Pub. L. 
110-286) (JADE Act) imposes blocking and financial sanctions on 
certain categories of persons described in Section 5(a)(1) of the 
JADE Act. In Executive Order 13651 of August 6, 2013, the President 
waived these blocking and financial sanctions pursuant to Section 
5(i) of the JADE Act. Except as authorized or exempt, transactions 
involving persons whose property and interests in property are 
blocked pursuant to paragraph (a) of this section continue to be 
prohibited.

Sec.  537.202  Prohibited exportation or reexportation of financial 
services to Burma.

    Except as otherwise authorized, the exportation or reexportation, 
directly or indirectly, to Burma of any financial services from the 
United States or by a U.S. person, wherever located, is prohibited.

    Note to Sec.  537.202:  See Sec.  537.529 for a general license 
authorizing the exportation or reexportation of financial services 
to Burma.

Sec.  537.203  Prohibited importation of Burmese jadeite and rubies 
into the United States.

    (a) Except as provided in paragraphs (b) and (c) of this section or 
as otherwise authorized, the importation into the United States of any 
jadeite or rubies mined or extracted from Burma and any articles of 
jewelry containing jadeite or rubies mined or extracted from Burma is 
prohibited.
    (b) The prohibition in paragraph (a) of this section does not apply 
to any jadeite or rubies mined or extracted from Burma or any articles 
of jewelry containing jadeite or rubies mined or extracted from Burma 
that were previously exported from the United States, including those 
that accompanied an individual outside the United States for personal 
use, if they are reimported to the United States by the same person, 
without having been advanced in value or improved in condition by any 
process or other means while outside the United States.
    (c) Nothing in paragraph (a) of this section shall prohibit 
transactions to the extent such prohibition would conflict with the 
international obligations of the United States under the Vienna 
Convention on Diplomatic Relations, the Vienna Convention on Consular 
Relations, the United Nations Headquarters Agreement, or other legal 
instruments providing equivalent privileges and immunities.

    Note Sec.  537.203:  See Sec. Sec.  537.324, 537.325, and 
537.326 for definitions of the terms jadeite, rubies, and articles 
of jewelry containing jadeite or rubies, respectively.

Sec.  537.204  Prohibited new investment in Burma.

    Except as otherwise authorized, new investment, as defined in Sec.  
537.311, in Burma by U.S. persons is prohibited.

    Note to Sec.  537.204:  See Sec.  537.530 for a general license 
authorizing new investment in Burma by U.S. persons.

Sec.  537.205  Prohibited facilitation.

    (a) Except as otherwise authorized, U.S. persons, wherever located, 
are prohibited from approving, financing, facilitating, or guaranteeing 
a transaction by a person who is a foreign person where the transaction 
by that foreign person would be prohibited by Sec.  537.202 or Sec.  
537.204 of this part if performed by a U.S. person or within the United 
States.
    (b) With respect to new investment in Burma, the prohibition 
against facilitation does not include the entry into, performance of, 
or financing of a contract to sell or purchase goods, services, or 
technology unless such contract includes any of the activities 
described in Sec.  537.311(a)(2), (3), or (4).

    Note to Sec.  537.205:  See Sec.  537.530 for a general license 
authorizing new investment in Burma by U.S. persons. See Sec.  
537.418 for an interpretive provision regarding facilitating new 
investment in Burma.

Sec.  537.206  Evasions; attempts; causing violations; conspiracies.

    (a) Any transaction by a U.S. person or within the United States on 
or after the effective date that evades or avoids, has the purpose of 
evading or avoiding, causes a violation of, or attempts to violate any 
of the prohibitions set forth in this part is prohibited.
    (b) Any conspiracy formed to violate any of the prohibitions set 
forth in this part is prohibited.


Sec.  537.207  Effect of transfers violating the provisions of this 
part.

    (a) Any transfer after the effective date that is in violation of 
any provision of this part or of any regulation, order, directive, 
ruling, instruction, or license issued pursuant to this part, and that 
involves any property or interest in property blocked pursuant to Sec.  
537.201(a), 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 or property interest.
    (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 any interest in, any property or interest

[[Page 37111]]

in property blocked pursuant to Sec.  537.201(a), unless the person who 
holds or maintains such property, prior to that date, had written 
notice of the transfer or by any written evidence had recognized such 
transfer.
    (c) Unless otherwise provided, a license or other authorization 
issued by OFAC before, during, or after a transfer shall validate such 
transfer or make it enforceable to the same extent that it would be 
valid or enforceable but for the provisions of this part and any 
regulation, order, directive, ruling, instruction, or license issued 
pursuant to this part.
    (d) Transfers of property that 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 is or was held or maintained (and as to such person only) 
in cases in which such person is able to establish to the satisfaction 
of OFAC 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 is or was 
held or maintained (and as to such person only);
    (2) The person with whom such property is or 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 issued 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 withholding of material facts or was otherwise fraudulently 
obtained; and
    (3) The person with whom such property is or was held or maintained 
filed with OFAC 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 directive or 
authorization issued pursuant to this part;
    (ii) Such transfer was not licensed or authorized by OFAC; or
    (iii) If a license did purport to cover the transfer, such license 
had been obtained by misrepresentation of a third party or withholding 
of material facts or was otherwise fraudulently obtained.

    Note to Sec.  537.207(d):  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 pursuant to this part, any attachment, 
judgment, decree, lien, execution, garnishment, or other judicial 
process is null and void with respect to any property and interests in 
property blocked pursuant to Sec.  537.201(a).


Sec.  537.208  Holding of funds in interest-bearing accounts; 
investment and reinvestment.

    (a) Except as provided in paragraph (e) or (f) of this section, or 
as otherwise directed by OFAC, any U.S. person holding funds, such as 
currency, bank deposits, or liquidated financial obligations, subject 
to Sec.  537.201(a) shall hold or place such funds in a blocked 
interest-bearing account located in the United States.
    (b)(1) For purposes of this section, the term blocked interest-
bearing account means a blocked account:
    (i) In a federally-insured U.S. bank, thrift institution, or credit 
union, provided the funds are earning interest at rates that are 
commercially reasonable; or
    (ii) With a broker or dealer registered with the Securities and 
Exchange Commission under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.), provided the funds are invested in a money market 
fund or in U.S. Treasury bills.
    (2) Funds held or placed in a blocked account pursuant to paragraph 
(a) of this section may not be invested in instruments the maturity of 
which exceeds 180 days.
    (c) For purposes of this section, a rate is commercially reasonable 
if it is the rate currently offered to other depositors on deposits or 
instruments of comparable size and maturity.
    (d) For purposes of this section, if interest is credited to a 
separate blocked account or subaccount, the name of the account party 
on each account must be the same.
    (e) Blocked funds held in instruments the maturity of which exceeds 
180 days at the time the funds become subject to Sec.  537.201(a) may 
continue to be held until maturity in the original instrument, provided 
any interest, earnings, or other proceeds derived therefrom are paid 
into a blocked interest-bearing account in accordance with paragraph 
(a) or (f) of this section.
    (f) Blocked funds held in accounts or instruments outside the 
United States at the time the funds become subject to Sec.  537.201(a) 
may continue to be held in the same type of accounts or instruments, 
provided the funds earn interest at rates that are commercially 
reasonable.
    (g) This section does not create an affirmative obligation for the 
holder of blocked tangible property, such as chattels or real estate, 
or of other blocked property, such as debt or equity securities, to 
sell or liquidate such property. However, OFAC may issue licenses 
permitting or directing such sales or liquidation in appropriate cases.
    (h) Funds subject to this section may not be held, invested, or 
reinvested in a manner that provides immediate financial or economic 
benefit or access to any person whose property and interests in 
property are blocked pursuant to Sec.  537.201(a), nor may their holder 
cooperate in or facilitate the pledging or other attempted use as 
collateral of blocked funds or other assets.


Sec.  537.209  Expenses of maintaining blocked physical property; 
liquidation of blocked property.

    (a) Except as otherwise authorized, and notwithstanding the 
existence of any rights or obligations conferred or imposed by any 
international agreement or contract entered into or any license or 
permit granted prior to the effective date, all expenses incident to 
the maintenance of physical property blocked pursuant to Sec.  
537.201(a) shall be the responsibility of the owners or operators of 
such property, which expenses shall not be met from blocked funds.
    (b) Property blocked pursuant to Sec.  537.201(a) may, in the 
discretion of OFAC, be sold or liquidated and the net proceeds placed 
in a blocked interest-bearing account in the name of the owner of the 
property.


Sec.  537.210  Exempt transactions.

    (a) Personal communications. The prohibitions contained in this 
part do not apply to any postal, telegraphic, telephonic, or other 
personal communication that does not involve the transfer of anything 
of value.
    (b) Information or informational materials. (1) The prohibitions 
contained in this part do not apply to the importation from any country 
and the exportation to any country of any information or informational 
materials, as defined in Sec.  537.308, whether commercial or 
otherwise, regardless of format or medium of transmission.
    (2) This section does not exempt from regulation or authorize 
transactions related to information or 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

[[Page 37112]]

materials, or to the provision of marketing and business consulting 
services. Such prohibited transactions include, but are not limited to, 
payment of advances for information or informational materials not yet 
created and completed (with the exception of prepaid subscriptions for 
widely circulated magazines and other periodical publications); 
provision of services to market, produce or co-produce, create, or 
assist in the creation of information or informational materials; and 
payment of royalties with respect to income received for enhancements 
or alterations made by U.S. persons to such information or 
informational materials.
    (3) This section does not exempt or authorize transactions incident 
to the exportation of software subject to the Export Administration 
Regulations, 15 CFR parts 730-774, or to the exportation of goods 
(including software) or technology for use in the transmission of any 
data, or to the provision, sale, or leasing of capacity on 
telecommunications transmission facilities (such as satellite or 
terrestrial network connectivity) for use in the transmission of any 
data. The exportation of such items or services and the provision, 
sale, or leasing of such capacity or facilities to a person whose 
property and interests in property are blocked pursuant to Sec.  
537.201(a) are prohibited.
    (c) Travel. The prohibitions contained in this part do not apply to 
transactions ordinarily incident to travel to or from any country, 
including importation or exportation 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 nonscheduled 
air, sea, or land voyages.
    (d) Pre-1997 contracts. Except as prohibited by Sec.  537.201(a) 
with respect to persons whose property and interests in property are 
blocked pursuant to Executive Order 13448 of October 18, 2007, 
Executive Order 13464 of April 30, 2008, or Executive Order 13619 of 
July 11, 2012, or by Sec.  537.203, the prohibitions contained in this 
part do not apply to any activity undertaken pursuant to an agreement, 
or pursuant to the exercise of rights under such an agreement, that was 
entered into by a U.S. person with the Government of Burma or a non-
governmental entity in Burma prior to 12:01 a.m. eastern daylight time 
on May 21, 1997.
    (e) Official business. The prohibitions contained in this part, 
other than that in Sec.  537.203, do not apply to transactions for the 
conduct of the official business of the United States Government by 
employees, grantees, or contractors thereof.

    Note to Sec.  537.210(e):  Section 537.210(e) does not apply to 
the extent that engaging in such transactions would require the 
issuance of a statutory waiver and such a waiver is not issued. As 
of June 30, 2014, the statutory waivers required to authorize 
otherwise prohibited transactions have been issued. Specifically, 
the Department of State, pursuant to a delegation of authority from 
the President, waived the ban on new U.S. investment in Burma set 
forth in the Foreign Operations, Export Financing, and Related 
Programs Appropriations Act, 1997, and in Sec.  537.204 of this 
part. In addition, in Executive Order 13651 of August 6, 2013, the 
President waived pursuant to Section 5(i) of the Tom Lantos Block 
Burmese JADE (Junta's Anti-Democratic Efforts) Act of 2008 (Pub. L. 
110-286) (JADE Act) the blocking and financial sanctions provisions 
of Section 5(b) of the JADE Act.

Subpart C--General Definitions


Sec.  537.300  Applicability of definitions.

    The definitions in this subpart apply throughout the entire part.


Sec.  537.301  Blocked account; blocked property.

    The terms blocked account and blocked property shall mean any 
account or property subject to the prohibitions in Sec.  537.201 held 
in the name of a person whose property and interests in property are 
blocked pursuant to Sec.  537.201(a), or in which such person has an 
interest, and with respect to which payments, transfers, exportations, 
withdrawals, or other dealings may not be made or effected except 
pursuant to a license or other authorization from OFAC expressly 
authorizing such action.

    Note to Sec.  537.301:  See Sec.  537.416 concerning the blocked 
status of property and interests in property of an entity that is 50 
percent or more owned by a person whose property and interests in 
property are blocked pursuant to Sec.  537.201(a).

Sec.  537.302  Economic development of resources located in Burma.

    (a) The term economic development of resources located in Burma 
means activities pursuant to a contract the subject of which includes 
responsibility for the development or exploitation of resources located 
in Burma, including making or attempting to make those resources 
accessible or available for exploitation or economic use. The term 
shall not be construed to include not-for-profit educational, health, 
or other humanitarian programs or activities.
    (b) Examples: The economic development of resources located in 
Burma includes a contract conferring rights to explore for, develop, 
extract, or refine petroleum, natural gas, or minerals in the ground in 
Burma; or a contract to assume control of a mining operation in Burma, 
acquire a forest or agricultural area for commercial use of the timber 
or other crops, or acquire land for the construction and operation of a 
hotel or factory.

    Note to Sec.  537.302:  See Sec.  537.316 for a definition of 
the term resources located in Burma.

Sec.  537.303  Effective date.

    The term effective date refers to the effective date of the 
applicable prohibitions and directives contained in this part as 
follows:
    (a) With respect to a person whose property and interests in 
property are blocked pursuant to Sec.  537.201(a)(1)(i), 12:01 a.m. 
eastern daylight time, July 29, 2003, for persons listed in the Annex 
to Executive Order 13310 of July 28, 2003; 12:01 a.m. eastern daylight 
time, October 19, 2007, for persons listed in the Annex to Executive 
Order 13448 of October 18, 2007; and 12:01 a.m. eastern daylight time, 
May 1, 2008, for persons listed in the Annex to Executive Order 13464 
of April 30, 2008;
    (b) With respect to a person whose property and interests in 
property are otherwise blocked pursuant to Sec.  537.201(a), the 
earlier of the date of actual or constructive notice that such person's 
property and interests in property are blocked;
    (c) With respect to the exportation or reexportation of financial 
services to Burma prohibited by Sec.  537.202, or with respect to 
facilitation thereof prohibited by Sec.  537.205, 12:01 a.m. eastern 
daylight time, July 29, 2003;
    (d) With respect to the importation into the United States of any 
jadeite or rubies mined or extracted from Burma and any articles of 
jewelry containing jadeite or rubies mined or extracted from Burma 
prohibited by Sec.  537.203, 12:01 a.m. eastern daylight time, August 
7, 2013;
    (e) With respect to new investment prohibited by Sec.  537.204, or 
with respect to facilitation thereof prohibited by Sec.  537.205, 12:01 
a.m. eastern daylight time, May 21, 1997.


Sec.  537.304  Entity.

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


Sec.  537.305  Exportation or reexportation of financial services to 
Burma.

    The term exportation or reexportation of financial services to 
Burma means:

[[Page 37113]]

    (a) The transfer of funds, directly or indirectly, from the United 
States or by a U.S. person, wherever located, to Burma; or
    (b) The provision, directly or indirectly, to persons in Burma of 
insurance services, investment or brokerage services (including but not 
limited to brokering or trading services regarding securities, debt, 
commodities, options, or foreign exchange), banking services, or money 
remittance services; loans, guarantees, letters of credit, or other 
extensions of credit; or the service of selling or redeeming traveler's 
checks, money orders, or stored value.


Sec.  537.306  Foreign person.

    The term foreign person means any person that is not a U.S. person.


Sec.  537.307  Government of Burma.

    The term Government of Burma means the Government of Burma (also 
known as Myanmar), its agencies, instrumentalities, and controlled 
entities, and the Central Bank of Burma.


Sec.  537.308  Information or informational materials.

    (a) The term information or informational materials includes, but 
is not limited to, publications, films, posters, phonograph records, 
photographs, microfilms, microfiche, tapes, compact disks, CD ROMs, 
artworks, and news wire feeds.

    Note to Sec.  537.308(a):  To be considered information or 
informational materials, artworks must be classified under heading 
9701, 9702, or 9703 of the Harmonized Tariff Schedule of the United 
States.

    (b) The term information or informational materials, with respect 
to exports, does 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 (1979) (the 
``EAA''), or section 6 of the EAA to the extent that such controls 
promote the nonproliferation or antiterrorism policies of the United 
States; or
    (2) With respect to which acts are prohibited by 18 U.S.C. chapter 
37.


Sec.  537.309  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.  537.310  Licenses; general and specific.

    (a) Except as otherwise provided in this part, the term license 
means any license or authorization contained in or issued pursuant to 
this part.
    (b) The term general license means any license or authorization the 
terms of which are set forth in subpart E of this part or are made 
available on OFAC's Web site: www.treasury.gov/ofac.
    (c) The term specific license means any license or authorization 
issued pursuant to this part, but not set forth in subpart E of this 
part or made available on OFAC's Web site.

    Note to Sec.  537.310:  See Sec.  501.801 of this chapter on 
licensing procedures.

Sec.  537.311  New investment.

    (a) The term new investment means any of the following activities 
if such 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 May 21, 1997:
    (1) The entry into a contract that includes the economic 
development of resources located in Burma, as defined in Sec.  537.302;
    (2) 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;
    (3) The purchase of a share of ownership, including an equity 
interest, in the economic development of resources located in Burma; or
    (4) 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.
    (b) The term new investment shall not include the entry into, 
performance of, or financing of a contract to sell or purchase goods, 
services, or technology unless such contract includes any of the 
activities described in paragraphs (a)(2) through (4) of this section.


Sec.  537.312  Nongovernmental entity in Burma.

    The term nongovernmental entity in Burma means a partnership, 
association, trust, joint venture, corporation, or other organization, 
wherever organized, that is located in Burma or exists for the 
exclusive or predominant purpose of engaging in the economic 
development of resources located in Burma or derives its income 
predominantly from such economic development, and is not the Government 
of Burma.


Sec.  537.313  Person.

    The term person means an individual or entity.


Sec.  537.314  [Reserved]


Sec.  537.315  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 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.  537.316  Resources located in Burma.

    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.


Sec.  537.317  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. Without limitation on the 
foregoing, it 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

[[Page 37114]]

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.  537.318  United States.

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


Sec.  537.319  U.S. depository institution.

    The term U.S. depository institution means any entity (including 
its foreign branches) organized under the laws of the United States or 
any jurisdiction within the United States, or any agency, office, or 
branch located in the United States of a foreign entity, that is 
engaged primarily in the business of banking (for example, banks, 
savings banks, savings associations, credit unions, trust companies, 
and United States bank holding companies) and is subject to regulation 
by federal or state banking authorities.


Sec.  537.320  U.S. financial institution.

    The term U.S. financial institution means any U.S. entity 
(including its foreign branches) that is engaged in the business of 
accepting deposits, making, granting, transferring, holding, or 
brokering a loan or other extension of credit, or purchasing or selling 
foreign exchange, securities, commodity futures or options, or 
procuring purchasers and sellers thereof, as principal or agent. It 
includes but is 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 that are located in the United States, 
but not such institutions' foreign branches, offices, or agencies.


Sec.  537.321  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.  537.322  U.S. registered broker or dealer in securities.

    The term U.S. registered broker or dealer in securities means any 
U.S. citizen, permanent resident alien, or entity organized under the 
laws of the United States or of any jurisdiction within the United 
States (including its foreign branches), or any agency, office, or 
branch of a foreign entity located in the United States, that:
    (a) Is a ``broker'' or ``dealer'' in securities within the meanings 
set forth in the Securities Exchange Act of 1934;
    (b) Holds or clears customer accounts; and
    (c) Is registered with the Securities and Exchange Commission under 
the Securities Exchange Act of 1934.


Sec.  537.323  U.S. registered money transmitter.

    The term U.S. registered money transmitter means any U.S. citizen, 
permanent resident alien, or entity organized under the laws of the 
United States or of any jurisdiction within the United States 
(including its foreign branches), or any agency, office, or branch of a 
foreign entity located in the United States, that is a money 
transmitter, as defined in 31 CFR 1010.100(ff)(5), and that is 
registered pursuant to 31 CFR 1022.380.


Sec.  537.324  Jadeite.

    The term jadeite means any jadeite classifiable under heading 7103 
of the Harmonized Tariff Schedule of the United States.


Sec.  537.325  Rubies.

    The term rubies means any rubies classifiable under heading 7103 of 
the Harmonized Tariff Schedule of the United States.


Sec.  537.326  Articles of jewelry containing jadeite or rubies.

    The term articles of jewelry containing jadeite or rubies means any 
article of jewelry classifiable under heading 7113 of the Harmonized 
Tariff Schedule of the United States that contains jadeite or rubies, 
or any article of jadeite or rubies classifiable under heading 7116 of 
the Harmonized Tariff Schedule of the United States.


Sec.  537.327  Financial, material, or technological support.

    The term financial, material, or technological support, as used in 
Sec.  537.201(a) of this part, means any property, tangible or 
intangible, including but not limited to currency, financial 
instruments, securities, or any other transmission of value; weapons or 
related materiel; chemical or biological agents; explosives; false 
documentation or identification; communications equipment; computers; 
electronic or other devices or equipment; technologies; lodging; safe 
houses; facilities; vehicles or other means of transportation; or 
goods. ``Technologies'' as used in this definition means specific 
information necessary for the development, production, or use of a 
product, including related technical data such as blueprints, plans, 
diagrams, models, formulae, tables, engineering designs and 
specifications, manuals, or other recorded instructions.


Sec.  537.328  OFAC.

    The term OFAC means the Department of the Treasury's Office of 
Foreign Assets Control.

Subpart D--Interpretations


Sec.  537.401  Reference to amended sections.

    Except as otherwise specified, reference to any provision in or 
appendix to this part or chapter or to any regulation, ruling, order, 
instruction, directive, or license issued pursuant to this part refers 
to the same as currently amended.


Sec.  537.402  Effect of amendment.

    Unless otherwise specifically provided, any amendment, 
modification, or revocation of any provision in or appendix to this 
part or chapter or of any order, regulation, ruling, instruction, or 
license issued by OFAC does not affect any act done or omitted, or any 
civil or criminal 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 continue and may be enforced as if such amendment, 
modification, or revocation had not been made.


Sec.  537.403  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 person whose property and interests in property 
are blocked pursuant to Sec.  537.201(a), such property

[[Page 37115]]

shall no longer be deemed to be property blocked pursuant to Sec.  
537.201(a), unless there exists in the property another interest that 
is blocked pursuant to Sec.  537.201(a), 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 
person whose property and interests in property are blocked pursuant to 
Sec.  537.201(a), such property shall be deemed to be property in which 
such a person has an interest and therefore blocked.


Sec.  537.404  Transactions ordinarily incident to a licensed 
transaction.

    (a) Any transaction ordinarily incident to a licensed transaction 
and necessary to give effect thereto is also authorized, except:
    (1) An ordinarily incident transaction, not explicitly authorized 
within the terms of the license, by or with a person whose property and 
interests in property are blocked pursuant to Sec.  537.201(a), except 
as provided in paragraph (b) of this section; or
    (2) An ordinarily incident transaction, not explicitly authorized 
within the terms of the license, involving a debit to a blocked account 
or a transfer of blocked property.
    (b) Transactions licensed pursuant to subpart E of this part and 
those transactions falling within the scope of paragraph (a) of this 
section are authorized even though they may involve transfers to or 
from an account of a financial institution whose property and interests 
in property are blocked pursuant to Sec.  537.201(a), provided that the 
account is not on the books of a financial institution that is a U.S. 
person, unless otherwise authorized.

    Note to Sec.  537.404(b):  See Sec.  537.531 for a general 
license authorizing transactions involving certain Burmese financial 
institutions whose property and interests in property are blocked 
pursuant to Sec.  537.201(a), including establishing and maintaining 
accounts on the books of U.S. financial institutions.

    (c) Example: A license authorizing a person to complete a 
securities sale involving Company A, whose property and interests in 
property are blocked pursuant to Sec.  537.201(a), also authorizes 
other persons to engage in activities that are ordinarily incident and 
necessary to complete the sale, including transactions by the buyer, 
broker, transfer agents, and banks, provided that, except as provided 
in paragraph (b) of this section, such other persons are not themselves 
persons whose property and interests in property are blocked pursuant 
to Sec.  537.201(a).


Sec.  537.405  Provision of services.

    (a) The prohibitions on transactions contained in Sec.  537.201 
apply to services performed in the United States or by U.S. persons, 
wherever located, including by a foreign branch of an entity located in 
the United States:
    (1) On behalf of or for the benefit of a person whose property and 
interests in property are blocked pursuant to Sec.  537.201(a); or
    (2) With respect to property interests of any person whose property 
and interests in property are blocked pursuant to Sec.  537.201(a).
    (b) Example: U.S. persons may not, except as authorized by or 
pursuant to this part, provide legal, accounting, financial, brokering, 
freight forwarding, transportation, public relations, or other services 
to a person whose property and interests in property are blocked 
pursuant to Sec.  537.201(a).

    Note to Sec.  537.405: See Sec. Sec.  537.507 and 537.508 on 
licensing policy with regard to the provision of certain legal and 
emergency medical services.

Sec.  537.406  Offshore transactions involving blocked property.

    The prohibitions in Sec.  537.201 on transactions or dealings 
involving blocked property apply to transactions by any U.S. person in 
a location outside the United States with respect to property held in 
the name of a person whose property and interests in property are 
blocked pursuant to Sec.  537.201(a).


Sec.  537.407  Payments from blocked accounts to satisfy obligations 
prohibited.

    Pursuant to Sec.  537.201, no debits may be made to a blocked 
account to pay obligations to U.S. persons or other persons, except as 
authorized by or pursuant to this part.

    Note to Sec.  537.407:  See also Sec.  537.502(e), which 
provides that no license or other authorization contained in or 
issued pursuant to this part authorizes transfers of or payments 
from blocked property or debits to blocked accounts unless the 
license or other authorization explicitly authorizes the transfer of 
or payment from blocked property or the debit to a blocked account.

Sec.  537.408  Setoffs prohibited.

    A setoff against blocked property (including a blocked account), 
whether by a U.S. bank or other U.S. person, is a prohibited transfer 
under Sec.  537.201 if effected after the effective date.


Sec.  537.409  Activities under pre-May 21, 1997 agreements.

    Pursuant to Sec.  537.210(d), a U.S. person who is a party to a 
pre-May 21, 1997 agreement may enter into subsequent agreements where 
such agreements are pursuant to, or in exercise of rights under, the 
pre-May 21, 1997 agreement and are specifically contemplated by the 
pre-May 21, 1997 agreement, unless such subsequent agreements involve 
any activity prohibited by Sec.  537.201(a) with respect to any person 
whose property and interests in property are blocked pursuant to 
Executive Order 13448 of October 18, 2007 (E.O. 13448), Executive Order 
13464 of April 30, 2008 (E.O. 13464), or Executive Order 13619 of July 
11, 2012 (E.O. 13619), or by Sec.  537.203. The exercise of rights 
under a pre-May 21, 1997 agreement may include the exercise of options 
to extend the contract, depending on such factors as the degree of 
specificity with which the option to extend is described in the pre-May 
21, 1997 agreement and the degree to which the party wishing to renew 
can enforce its decision to exercise the option, unless such exercise 
of rights involves any activity prohibited by Sec.  537.201(a) with 
respect to any person whose property and interests in property are 
blocked pursuant to E.O. 13448, E.O. 13464, or E.O. 13619, or by Sec.  
537.203.


Sec.  537.410  Contracts and subcontracts regarding economic 
development of resources in Burma.

    Section 537.204 prohibits new investment in Burma by U.S. persons. 
However, pursuant to Sec.  537.530, U.S. persons may engage in new 
investment in Burma, provided that all conditions of that general 
license are satisfied. Section 537.311 defines the term new investment 
to include certain contracts 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. With respect to 
entry into such contracts, only the following will be considered new 
investment in Burma:
    (a) Entry into contracts for supervision and guarantee at the 
highest level of project management, such as entry into a contract with 
a development project's sponsor or owner to become a prime contractor 
or general manager for a development project;
    (b) Entry into subcontracts where the functional scope of the 
subcontractor's obligations is substantially similar to that of a prime 
contractor's or general manager's obligations for a development 
project; or

[[Page 37116]]

    (c) Entry into a contract or subcontract where the consideration 
includes a share of ownership in, or participation in the royalties, 
earnings, or profits of, the economic development of resources located 
in Burma.


Sec.  537.411  [Reserved]


Sec.  537.412  Investments in entities involved in economic development 
projects in Burma.

    (a) The purchase of shares in a third-country company that is 
engaged in the economic development of resources located in Burma is 
prohibited by Sec.  537.204 where the company's profits are 
predominantly derived from the company's economic development of 
resources located in Burma. The purchase of such shares, however, is 
authorized by general license pursuant to Sec.  537.530, provided that 
all conditions of that general license are satisfied.
    (b) If a U.S. person holds shares in an entity which subsequently 
engages predominantly in the economic development of resources located 
in Burma or subsequently derives its income exclusively or 
predominantly from such economic development, the U.S. person is not 
required to relinquish its shares. Owning such shares, and purchasing 
additional shares is authorized by general license pursuant to Sec.  
537.530, provided that all conditions of that general license are 
satisfied.


Sec.  537.413  [Reserved]


Sec.  537.414  Charitable contributions.

    Unless specifically authorized by OFAC pursuant to this part, no 
charitable contribution of funds, goods, services, or technology, 
including contributions to relieve human suffering, such as food, 
clothing, or medicine, may be made by, to, or for the benefit of, or 
received from, a person whose property and interests in property are 
blocked pursuant to Sec.  537.201(a). For the purposes of this part, a 
contribution is made by, to, or for the benefit of, or received from, a 
person whose property and interests in property are blocked pursuant to 
Sec.  537.201(a) if made by, to, or in the name of, or received from or 
in the name of, such a person; if made by, to, or in the name of, or 
received from or in the name of, an entity or individual acting for or 
on behalf of, or owned or controlled by, such a person; or if made in 
an attempt to violate, to evade, or to avoid the bar on the provision 
of contributions by, to, or for the benefit of such a person, or the 
receipt of contributions from such a person.


Sec.  537.415  Credit extended and cards issued by U.S. financial 
institutions to a person whose property and interests in property are 
blocked.

    The prohibition in Sec.  537.201 on dealing in property subject to 
that section prohibits U.S. financial institutions from performing 
under any existing credit agreements, including, but not limited to, 
charge cards, debit cards, or other credit facilities issued by a U.S. 
financial institution to a person whose property and interests in 
property are blocked pursuant to Sec.  537.201(a).


Sec.  537.416  Entities owned by a person whose property and interests 
in property are blocked.

    A person whose property and interests in property are blocked 
pursuant to Sec.  537.201(a) has an interest in all property and 
interests in property of an entity in which it owns, directly or 
indirectly, a 50 percent or greater interest. The property and 
interests in property of such an entity, therefore, are blocked, and 
such an entity is a person whose property and interests in property are 
blocked pursuant to Sec.  537.201(a), regardless of whether the name of 
the entity is incorporated into OFAC's Specially Designated Nationals 
and Blocked Persons List (SDN List).


Sec.  537.417  Importation into a bonded warehouse or foreign trade 
zone.

    The prohibition in Sec.  537.203 applies to importation into a 
bonded warehouse or a foreign trade zone of the United States.


Sec.  537.418  Facilitating new investment.

    Consistent with Sec.  537.530, U.S. persons may approve, finance, 
facilitate, or guarantee new investment by foreign persons provided 
such new investment is not pursuant to an agreement, or pursuant to the 
exercise of rights under such an agreement, that:
    (a) Is entered into with the Burmese Ministry of Defense, state or 
non-state armed groups (which includes the military), or entities owned 
50 percent or more by any of the foregoing, or
    (b) involves a transaction, directly or indirectly, with any person 
whose property and interests and property are blocked pursuant to Sec.  
537.201(a).

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


Sec.  537.501  General and specific licensing procedures.

    For provisions relating to licensing procedures, see part 501, 
subpart E, of this chapter. Licensing actions taken pursuant to part 
501 of this chapter with respect to the prohibitions contained in this 
part are considered actions taken pursuant to this part. General 
licenses and statements of licensing policy relating to this part also 
may be available through the Burma sanctions page on OFAC's Web site: 
www.treasury.gov/ofac.


Sec.  537.502  Effect of license or authorization.

    (a) No license or other authorization contained in this part, or 
otherwise issued by OFAC, authorizes or validates any transaction 
effected prior to the issuance of such license or other authorization, 
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 OFAC 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 other part of this chapter unless the regulation, ruling, 
instruction, or license specifically refers to such part.
    (c) Any regulation, ruling, instruction, or license authorizing any 
transaction otherwise prohibited under this part has the effect of 
removing a prohibition 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.
    (d) Nothing contained in this part shall be construed to supersede 
the requirements established under any other provision of law or to 
relieve a person from any requirement to obtain a license or other 
authorization from another department or agency of the U.S. Government 
in compliance with applicable laws and regulations subject to the 
jurisdiction of that department or agency. For example, exports of 
goods, services, or technical data which are not prohibited by this 
part or which do not require a license by OFAC, nevertheless may 
require authorization by the U.S. Department of Commerce, the U.S. 
Department of State, or other agencies of the U.S. Government.
    (e) No license or other authorization contained in or issued 
pursuant to this part authorizes transfers of or payments from blocked 
property or debits to blocked accounts unless the license or other 
authorization explicitly authorizes the transfer of or payment from 
blocked

[[Page 37117]]

property or the debit to a blocked account.
    (f) Any payment relating to a transaction authorized in or pursuant 
to this part that is routed through the U.S. financial system should 
reference the relevant OFAC general or specific license authorizing the 
payment to avoid the blocking or rejection of the transfer.


Sec.  537.503  Exclusion from licenses.

    OFAC reserves the right to exclude any person, property, 
transaction, or class thereof from the operation of any license or from 
the privileges conferred by any license. OFAC also reserves the right 
to restrict the applicability of any license to particular persons, 
property, transactions, or classes thereof. Such actions are binding 
upon actual or constructive notice of the exclusions or restrictions.


Sec.  537.504  Payments and transfers to blocked accounts in U.S. 
financial institutions.

    Any payment of funds or transfer of credit in which a person whose 
property and interests in property are blocked pursuant to Sec.  
537.201(a) has any interest that comes within the possession or control 
of a U.S. financial institution must be blocked in an account on the 
books of that financial institution. A transfer of funds or credit by a 
U.S. financial institution between blocked accounts in its branches or 
offices is authorized, provided that no transfer is made from an 
account within the United States to an account held outside the United 
States, and further provided that a transfer from a blocked account may 
be made only to another blocked account held in the same name.

    Note to Sec.  537.504: See Sec.  501.603 of this chapter for 
mandatory reporting requirements regarding financial transfers. See 
also Sec.  537.208 concerning the obligation to hold blocked funds 
in interest-bearing accounts.

Sec.  537.505  Entries in certain accounts for normal service charges 
authorized.

    (a) A U.S. financial institution is authorized to debit any blocked 
account held at that financial institution in payment or reimbursement 
for normal service charges owed it by the owner of that blocked 
account.
    (b) As used in this section, the term normal service charges shall 
include charges in payment or reimbursement for interest due; cable, 
telegraph, internet, 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, photocopies, credit reports, 
transcripts of statements, registered mail, insurance, stationery and 
supplies, and other similar items.


Sec.  537.506  Investment and reinvestment of certain funds.

    Subject to the requirements of Sec.  537.208, U.S. financial 
institutions are authorized to invest and reinvest assets blocked 
pursuant to Sec.  537.201(a), subject to the following conditions:
    (a) The assets representing such investments and reinvestments are 
credited to a blocked account or subaccount that is held in the same 
name at the same U.S. financial institution, or within the possession 
or control of a U.S. person, but funds shall not be transferred outside 
the United States for this purpose;
    (b) The proceeds of such investments and reinvestments shall not be 
credited to a blocked account or subaccount under any name or 
designation that differs from the name or designation of the specific 
blocked account or subaccount in which such funds or securities were 
held; and
    (c) No immediate financial or economic benefit accrues (e.g., 
through pledging or other use) to a person whose property and interests 
in property are blocked pursuant to Sec.  537.201(a).


Sec.  537.507  Provision of certain legal services authorized.

    (a) The provision of the following legal services to or on behalf 
of persons whose property and interests in property are blocked 
pursuant to Sec.  537.201(a) is authorized, provided that receipt of 
payment of professional fees and reimbursement of incurred expenses 
must be specifically licensed or otherwise authorized pursuant to Sec.  
537.528:
    (1) Provision of legal advice and counseling on the requirements of 
and compliance with the laws of the United States or any jurisdiction 
within the United States, provided that such advice and counseling are 
not provided to facilitate transactions in violation of this part;
    (2) Representation of persons named as defendants in or otherwise 
made parties to legal, arbitration, or administrative proceedings 
before any U.S. federal, state, or local court or agency;
    (3) Initiation and conduct of legal, arbitration, or administrative 
proceedings before any U.S. federal, state, or local court or agency;
    (4) Representation of persons before any U.S. federal, state, or 
local court or agency with respect to the imposition, administration, 
or enforcement of U.S. sanctions against such persons; and
    (5) Provision of legal services in any other context in which 
prevailing U.S. law requires access to legal counsel at public expense.
    (b) The provision of any other legal services to persons whose 
property and interests in property are blocked pursuant to Sec.  
537.201(a), not otherwise authorized in this part, requires the 
issuance of a specific license.
    (c) Entry into a settlement agreement or the 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 property or interests in property 
blocked pursuant to Sec.  537.201(a) is prohibited unless licensed 
pursuant to this part.

    Note to Sec.  537.507:  U.S. persons seeking administrative 
reconsideration or judicial review of their designation or the 
blocking of their property and interests in property may apply for a 
specific license from OFAC to authorize the release of a limited 
amount of blocked funds for the payment of legal fees where 
alternative funding sources are not available. For more information, 
see OFAC's Guidance on the Release of Limited Amounts of Blocked 
Funds for Payment of Legal Fees and Costs Incurred in Challenging 
the Blocking of U.S. Persons in Administrative or Civil Proceedings, 
which is available on OFAC's Web site: www.treasury.gov/ofac.

Sec.  537.508  Authorization of emergency medical services.

    The provision of nonscheduled emergency medical services in the 
United States to persons whose property and interests in property are 
blocked pursuant to Sec.  537.201(a) is authorized, provided that all 
receipt of payment for such services must be specifically licensed.


Sec.  537.509  Official activities of certain international 
organizations authorized.

    All transactions and activities otherwise prohibited by this part 
that are for the conduct of the official business of the United Nations 
or the Specialized Agencies, Programmes, Funds, and Related 
Organizations of the United Nations by employees, contractors, or 
grantees thereof are authorized.

    Note to Sec.  537.509:  For an organizational chart listing the 
Specialized Agencies, Programmes, Funds, and Related Organizations 
of the United Nations, see the following page on the United Nations 
Web site: www.un.org/en/aboutun/structure/pdfs/un-system-chart-color-sm.pdf.


[[Page 37118]]




Sec. Sec.  537.510-537.518  [Reserved]


Sec.  537.519  Activities undertaken pursuant to certain pre-May 21, 
1997 agreements.

    Except as prohibited by Sec.  537.201(a) with respect to persons 
whose property and interests in property are blocked pursuant to 
Executive Order 13448 of October 18, 2007, Executive Order 13464 of 
April 30, 2008, or Executive Order 13619 of July 11, 2012, or by Sec.  
537.203, U.S. persons are authorized to engage in any activity, or any 
transaction incident to an activity, undertaken pursuant to an 
agreement entered into prior to 12:01 a.m., eastern daylight time, on 
May 21, 1997, or pursuant to the exercise of rights under such an 
agreement, provided that the parties to the agreement include:
    (a) The Government of Burma or a nongovernmental entity in Burma, 
and
    (b) An entity organized under the laws of a foreign state.

    Note to Sec.  537.519: The authorization contained in this 
section pertains to pre-May 21, 1997 contracts between foreign 
entities and either the Government of Burma or a nongovernmental 
entity in Burma. A parallel exemption for pre-May 21, 1997 contracts 
between U.S. persons and the Government of Burma or a 
nongovernmental entity in Burma is contained in Sec.  537.210(d) and 
further explained in Sec.  537.409.

Sec. Sec.  537.520-537.521  [Reserved]


Sec.  537.522  Certain transactions related to patents, trademarks, 
copyrights, and other intellectual property authorized.

    (a) All of the following transactions in connection with patent, 
trademark, copyright, or other intellectual property protection in the 
United States or Burma are authorized:
    (1) The filing and prosecution of any application to obtain a 
patent, trademark, copyright, or other form of intellectual property 
protection;
    (2) The receipt of a patent, trademark, copyright, or other form of 
intellectual property protection;
    (3) The renewal or maintenance of a patent, trademark, copyright, 
or other form of intellectual property protection;
    (4) The filing and prosecution of opposition or infringement 
proceedings with respect to a patent, trademark, copyright, or other 
form of intellectual property protection, or the entrance of a defense 
to any such proceedings; and
    (5) The assignment or transfer of a patent, trademark, copyright, 
or other form of intellectual property protection.
    (b) This section authorizes the payment of fees currently due to 
the United States Government or the Government of Burma, or of the 
reasonable and customary fees and charges currently due to attorneys or 
representatives within the United States or Burma, in connection with 
the transactions authorized in paragraph (a) of this section, except 
that payment effected pursuant to the terms of this paragraph may not 
be made from a blocked account.


Sec. Sec.  537.523-537.525  [Reserved]


Sec.  537.526  Transactions necessary and ordinarily incident to 
publishing authorized.

    To the extent that such activities are not exempt from this part, 
U.S. persons are authorized to engage in all transactions otherwise 
prohibited by Sec.  537.201 that are necessary and ordinarily incident 
to the publishing and marketing of manuscripts, books, journals, and 
newspapers in paper or electronic format (collectively, ``written 
publications''). This section does not apply if the parties to the 
transactions described in this paragraph include the State Peace and 
Development Council of Burma or the Union Solidarity and Development 
Association of Burma; any successor entity to any of the foregoing 
entities; or any person, other than personnel of academic and research 
institutions, acting or purporting to act directly or indirectly on 
behalf of the foregoing entities with respect to the transactions 
described in this paragraph. Pursuant to this section, transactions 
incident to the following activities are authorized, provided they do 
not involve any importations prohibited by Sec.  537.203:
    (a) Commissioning and making advance payments for identifiable 
written publications not yet in existence, to the extent consistent 
with industry practice;
    (b) Collaborating on the creation and enhancement of written 
publications;
    (c)(1) Augmenting written publications through the addition of 
items such as photographs, artwork, translation, explanatory text, and, 
for a written publication in electronic format, the addition of 
embedded software necessary for reading, browsing, navigating, or 
searching the written publication;
    (2) Exporting embedded software necessary for reading, browsing, 
navigating, or searching a written publication in electronic format, 
provided that, to the extent a license is required under the Export 
Administration Regulations, 15 CFR parts 730-774 (EAR), the exportation 
is licensed or otherwise authorized by the Department of Commerce under 
the provisions of the EAR;
    (d) Substantive editing of written publications;
    (e) Payment of royalties for written publications;
    (f) Creating or undertaking a marketing campaign to promote a 
written publication; and
    (g) Other transactions necessary and ordinarily incident to the 
publishing and marketing of written publications as described in this 
section.

    Note 1 to Sec.  537.526:  The Department of State has determined 
that the State Peace and Development Council of Burma no longer 
exists.


    Note 2 to Sec.  537.526:  See Sec.  537.529 for a general 
license authorizing the exportation or reexportation of financial 
services to Burma.

Sec.  537.527  [Reserved]


Sec.  537.528  Payments for legal services from funds originating 
outside the United States authorized.

    Receipts of payment of professional fees and reimbursement of 
incurred expenses for the provision of legal services authorized 
pursuant to Sec.  537.507(a) to or on behalf of any person whose 
property and interests in property are blocked pursuant to Sec.  
537.201(a) are authorized from funds originating outside the United 
States, provided that:
    (a) Prior to receiving payment for legal services authorized 
pursuant to Sec.  537.507(a) rendered to persons whose property and 
interests in property are blocked pursuant to Sec.  537.201(a), the 
U.S. person that is an attorney, law firm, or legal services 
organization provides to OFAC a copy of a letter of engagement or a 
letter of intent to engage specifying the services to be performed and 
signed by the individual to whom such services are to be provided or, 
where services are to be provided to an entity, by a legal 
representative of the entity. The copy of a letter of engagement or a 
letter of intent to engage, accompanied by correspondence referencing 
this paragraph (a), is to be mailed to: Licensing Division, Office of 
Foreign Assets Control, U.S. Department of the Treasury, 1500 
Pennsylvania Avenue NW., Annex, Washington, DC 20220;
    (b) The funds received by U.S. persons as payment of professional 
fees and reimbursement of incurred expenses for the provision of legal 
services authorized pursuant to Sec.  537.507(a) must not originate 
from:
    (1) A source within the United States;
    (2) Any source, wherever located, within the possession or control 
of a U.S. person; or
    (3) Any individual or entity, other than the person on whose behalf 
the legal services authorized pursuant to Sec.  537.507(a) are to be 
provided, whose property and interests in property are

[[Page 37119]]

blocked pursuant to any part of this chapter or any Executive order;

    Note to Sec.  537.528(b):  This paragraph authorizes the blocked 
person on whose behalf the legal services authorized pursuant to 
Sec.  537.507(a) are to be provided to make payments for authorized 
legal services using funds originating outside the United States 
that were not previously blocked. Nothing in this paragraph 
authorizes payments for legal services using funds in which any 
other person whose property and interests in property are blocked 
pursuant to Sec.  537.201(a), any other part of this chapter, or any 
Executive order holds an interest.

    (c) Reports. (1) U.S. persons who receive payments in connection 
with legal services authorized pursuant to Sec.  537.507(a) must submit 
quarterly reports no later than 30 days following the end of the 
calendar quarter during which the payments were received providing 
information on the funds received. Such reports shall specify:
    (i) The individual or entity from whom the funds originated and the 
amount of funds received; and
    (ii) If applicable:
    (A) The names of any individuals or entities providing related 
services to the U.S. person receiving payment in connection with 
authorized legal services, such as private investigators or expert 
witnesses;
    (B) A general description of the services provided; and
    (C) The amount of funds paid in connection with such services.
    (2) In the event that no transactions occur or no funds are 
received during the reporting period, a statement is to be filed to 
that effect; and
    (3) The reports, which must reference this section, are to be 
mailed to: Licensing Division, Office of Foreign Assets Control, U.S. 
Department of the Treasury, 1500 Pennsylvania Avenue NW., Annex, 
Washington, DC 20220.

    Note to Sec.  537.528:  U.S. persons who receive payments in 
connection with legal services authorized pursuant to Sec.  
537.507(a) do not need to obtain specific authorization to contract 
for related services that are ordinarily incident to the provision 
of those legal services, such as those provided by private 
investigators or expert witnesses, or to pay for such services. 
Additionally, U.S. persons do not need to obtain specific 
authorization to provide related services that are ordinarily 
incident to the provision of legal services authorized pursuant to 
Sec.  537.507(a).

Sec.  537.529  Exportation or reexportation of financial services to 
Burma authorized.

    (a) Except as provided in paragraphs (b)-(d) of this section, the 
exportation or reexportation of financial services to Burma, directly 
or indirectly, from the United States or by a U.S. person, wherever 
located, is authorized.
    (b) This section does not authorize, in connection with the 
provision of security services, the exportation or reexportation of 
financial services, directly or indirectly, to the Burmese Ministry of 
Defense, including the Office of Procurement; any state or non-state 
armed group; or any entity in which any of the foregoing own a 50 
percent or greater interest.
    (c) This section does not authorize the exportation or 
reexportation of financial services, directly or indirectly, to any 
person whose property and interests in property are blocked pursuant to 
Sec.  537.201(a), except as set forth in Sec.  537.404(b).

    Note to Sec.  537.529(c):  See Sec.  537.531 for a general 
license authorizing transactions involving certain Burmese financial 
institutions whose property and interests in property are blocked 
pursuant to Sec.  537.201(a), including establishing and maintaining 
accounts on the books of U.S. financial institutions.

    (d) This section does not authorize any debit to a blocked account.

    Note to Sec.  537.529:  As a result of the authorization 
contained in this section, the special measures against Burma 
imposed under Section 311 of the Uniting and Strengthening America 
by Providing Appropriate Tools Required to Intercept and Obstruct 
Terrorism (USA PATRIOT) Act of 2001 (Pub. L. 107-56) (USA PATRIOT 
Act) do not apply to the operation of correspondent accounts for 
Burmese financial institutions, or to transactions that are 
conducted through those accounts, provided the Burmese financial 
institution is not an entity whose property and interests in 
property are blocked pursuant to Sec.  537.201(a) and the 
transactions are otherwise authorized by this part, and therefore 
fall within the exception set forth in 31 CFR 1010.651(b)(3). In 
addition, section 537.531 of this part authorizes certain 
transactions involving specific Burmese financial institutions whose 
property and interests in property are blocked pursuant to this 
part. This section does not affect any obligation of U.S. financial 
institutions processing such transactions to conduct enhanced due 
diligence under Section 312 of the USA PATRIOT Act. See 31 CFR 
1010.610(c).

Sec.  537.530  New investment in Burma by U.S. persons authorized.

    (a) Except as provided in paragraphs (c) and (d) of this section, 
new investment, as defined in Sec.  537.311, in Burma by U.S. persons 
is authorized.
    (b) Any U.S. person engaging in new investment in Burma pursuant to 
this section must report to the Department of State in compliance with 
the requirements set forth in the Department of State's ``Reporting 
Requirements on Responsible Investment in Burma,'' available at: 
www.HumanRights.gov/BurmaResponsibleInvestment.
    (c) This section does not authorize new investment undertaken 
pursuant to an agreement, or pursuant to the exercise of rights under 
such an agreement, that is entered into with the Burmese Ministry of 
Defense, including the Office of Procurement; any state or non-state 
armed group; or any entity in which any of the foregoing own a 50 
percent or greater interest.
    (d) This section does not authorize transactions with, directly or 
indirectly, any person whose property and interests in property are 
blocked pursuant to Sec.  537.201(a).

    Note to Sec.  537.530:  The Department of State, pursuant to 
section 570(e) of the Foreign Operations, Export Financing, and 
Related Programs Appropriations Act, 1997 (Pub. L. 104-208) and a 
delegation of authority by the President, has waived the prohibition 
on new investment in Burma authorized in section 570 of that act. 
See 77 Fed. Reg. 62596 (Oct. 15, 2012).

Sec.  537.531  Certain transactions involving Asia Green Development 
Bank, Ayeyarwady Bank, Myanma Economic Bank, and Myanma Investment and 
Commercial Bank authorized.

    (a) Except as provided in paragraphs (b) through (f) of this 
section, all transactions involving Asia Green Development Bank, 
Ayeyarwady Bank, Myanma Economic Bank, and Myanma Investment and 
Commercial Bank are authorized.
    (b) This section does not authorize transactions involving any 
person whose property and interests in property are blocked pursuant to 
Sec.  537.201(a) other than Asia Green Development Bank, Ayeyarwady 
Bank, Myanma Economic Bank, and Myanma Investment and Commercial Bank.
    (c) This section does not authorize, in connection with the 
provision of security services, the exportation or reexportation of 
financial services, directly or indirectly, to the Burmese Ministry of 
Defense, including the Office of Procurement; any state or non-state 
armed group; or any entity in which any of the foregoing own a 50 
percent or greater interest.
    (d) This section does not authorize any new investment, as defined 
in Sec.  537.311, including in or with Asia Green Development Bank, 
Ayeyarwady Bank, Myanma Economic Bank, or Myanma Investment and 
Commercial Bank.
    (e) This section does not authorize any importations into the 
United States prohibited by Sec.  537.203.
    (f) This section does not authorize the unblocking of any property 
and interests

[[Page 37120]]

in property that were blocked as of February 22, 2013, pursuant to 31 
CFR Sec.  537.201(a), Executive Order 13448 of October 18, 2007, 
Executive Order 13464 of April 30, 2008, or Executive Order 13619 of 
July 11, 2012.

    Note to Sec.  537.531:  As a result of the authorization 
contained in this section, the special measures against Burma 
imposed under Section 311 of the Uniting and Strengthening America 
by Providing Appropriate Tools Required to Intercept and Obstruct 
Terrorism (USA PATRIOT) Act of 2001 (Pub. L. 107-56) (USA PATRIOT 
Act) do not apply to the operation of correspondent accounts for 
Asia Green Development Bank, Ayeyarwady Bank, Myanma Economic Bank, 
and Myanma Investment and Commercial Bank, or to transactions 
conducted through such accounts, provided the transactions are 
authorized pursuant to this part, and therefore fall within the 
exception set forth in 31 CFR 1010.651(b)(3). This section does not 
affect any obligation of U.S. financial institutions processing such 
transactions to conduct enhanced due diligence under Section 312 of 
the USA PATRIOT Act. See 31 CFR 1010.610(c).

Subpart F--Reports


Sec.  537.601  Records and reports.

    For provisions relating to required records and reports, see part 
501, subpart C, of this chapter. Recordkeeping and reporting 
requirements imposed by part 501 of this chapter with respect to the 
prohibitions contained in this part are considered requirements arising 
pursuant to this part.

Subpart G--Penalties


Sec.  537.701  Penalties.

    (a) Attention is directed to section 206 of the International 
Emergency Economic Powers Act (50 U.S.C. 1705) (IEEPA), which is 
applicable to violations of the provisions of any license, ruling, 
regulation, order, directive, or instruction issued by or pursuant to 
the direction or authorization of the Secretary of the Treasury 
pursuant to this part or otherwise under IEEPA.
    (1) A civil penalty not to exceed the amount set forth in section 
206 of IEEPA may be imposed on any person who violates, attempts to 
violate, conspires to violate, or causes a violation of any license, 
order, regulation, or prohibition issued under IEEPA.

    Note to Sec.  537.701(a)(1):  As of the date of publication in 
the Federal Register of the final rule amending and reissuing this 
part (June 30, 2014), IEEPA provides for a maximum civil penalty not 
to exceed the greater of $250,000 or an amount that is twice the 
amount of the transaction that is the basis of the violation with 
respect to which the penalty is imposed.

    (2) A person who willfully commits, willfully attempts to commit, 
or willfully conspires to commit, or aids or abets in the commission of 
a violation of any license, order, regulation, or prohibition may, upon 
conviction, be fined not more than $1,000,000, or if a natural person, 
be imprisoned for not more than 20 years, or both.
    (b) Adjustments to penalty amounts. (1) The civil penalties 
provided in IEEPA are subject to adjustment pursuant to the Federal 
Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as 
amended, 28 U.S.C. 2461 note).
    (2) The criminal penalties provided in IEEPA are subject to 
adjustment pursuant to 18 U.S.C. 3571.
    (c) Attention is also directed to 18 U.S.C. 1001, which provides 
that whoever, in any matter within the jurisdiction of the executive, 
legislative, or judicial branch of the Government of the United States, 
knowingly and willfully falsifies, conceals, or covers up by any trick, 
scheme, or device a material fact, or makes any materially false, 
fictitious, or fraudulent statement or representation, or makes or uses 
any false writing or document knowing the same to contain any 
materially false, fictitious, or fraudulent statement or entry shall be 
fined under title 18, United States Code, or imprisoned, or both.
    (d) Violations of this part may also be subject to other applicable 
laws.

    Note to Sec.  537.701:  The Tom Lantos Block Burmese JADE 
(Junta's Anti-Democratic Efforts) Act of 2008 (the ``JADE Act'') 
provides that any person who violates any prohibition imposed 
pursuant to Section 5(b) of the JADE Act shall be subject to the 
penalties provided in IEEPA. In Executive Order 13651 of August 6, 
2013, the President waived pursuant to Section 5(i) of JADE Act the 
blocking and financial sanctions described in Section 5(b) of the 
JADE Act.

Sec.  537.702  Pre-Penalty Notice; settlement.

    (a) When required. If OFAC has reason 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 (50 U.S.C. 1705) 
(IEEPA) and determines that a civil monetary penalty is warranted, OFAC 
will issue a Pre-Penalty Notice informing the alleged violator of the 
agency's intent to impose a monetary penalty. A Pre-Penalty Notice 
shall be in writing. The Pre-Penalty Notice may be issued whether or 
not another agency has taken any action with respect to the matter. For 
a description of the contents of a Pre-Penalty Notice, see Appendix A 
to part 501 of this chapter.
    (b)(1) Right to respond. An alleged violator has the right to 
respond to a Pre-Penalty Notice by making a written presentation to 
OFAC. For a description of the information that should be included in 
such a response, see Appendix A to part 501 of this chapter.
    (2) Deadline for response. A response to a Pre-Penalty Notice must 
be made within the applicable 30-day period set forth in this 
paragraph. The failure to submit a response within the applicable time 
period set forth in this paragraph shall be deemed to be a waiver of 
the right to respond.
    (i) Computation of time for response. A response to a Pre-Penalty 
Notice must be postmarked or date-stamped by the U.S. Postal Service 
(or foreign postal service, if mailed abroad) or courier service 
provider (if transmitted to OFAC by courier) on or before the 30th day 
after the postmark date on the envelope in which the Pre-Penalty Notice 
was mailed. If the Pre-Penalty Notice was personally delivered by a 
non-U.S. Postal Service agent authorized by OFAC, a response must be 
postmarked or date-stamped on or before the 30th day after the date of 
delivery.
    (ii) Extensions of time for response. If a due date falls on a 
federal holiday or weekend, that due date is extended to include the 
following business day. Any other extensions of time will be granted, 
at the discretion of OFAC, only upon specific request to OFAC.
    (3) Form and method of response. A response to a Pre-Penalty Notice 
need not be in any particular form, but it must be typewritten and 
signed by the alleged violator or a representative thereof, must 
contain information sufficient to indicate that it is in response to 
the Pre-Penalty Notice, and must include the OFAC identification number 
listed on the Pre-Penalty Notice. A copy of the written response may be 
sent by facsimile, but the original also must be sent to OFAC's 
Enforcement Division by mail or courier and must be postmarked or date-
stamped in accordance with paragraph (b)(2) of this section.
    (c) Settlement. Settlement discussion may be initiated by OFAC, the 
alleged violator, or the alleged violator's authorized representative. 
For a description of practices with respect to settlement, see Appendix 
A to part 501 of this chapter.

[[Page 37121]]

    (d) Guidelines. Guidelines for the imposition or settlement of 
civil penalties by OFAC are contained in Appendix A to part 501 of this 
chapter.
    (e) Representation. A representative of the alleged violator may 
act on behalf of the alleged violator, but any oral communication with 
OFAC prior to a written submission regarding the specific allegations 
contained in the Pre-Penalty Notice must be preceded by a written 
letter of representation, unless the Pre-Penalty Notice was served upon 
the alleged violator in care of the representative.


Sec.  537.703  Penalty imposition.

    If, after considering any written response to the Pre-Penalty 
Notice and any relevant facts, OFAC determines that there was a 
violation by the alleged violator named in the Pre-Penalty Notice and 
that a civil monetary penalty is appropriate, OFAC may issue a Penalty 
Notice to the violator containing a determination of the violation and 
the imposition of the monetary penalty. For additional details 
concerning issuance of a Penalty Notice, see Appendix A to part 501 of 
this chapter. The issuance of the Penalty Notice shall constitute final 
agency action. The violator has the right to seek judicial review of 
that final agency action in federal district court.


Sec.  537.704  Administrative collection; referral to United States 
Department of Justice.

    In the event that the violator does not pay the penalty imposed 
pursuant to this part or make payment arrangements acceptable to OFAC, 
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.  537.801  Procedures.

    For license application procedures and procedures relating to 
amendments, modifications, or revocations of licenses; administrative 
decisions; rulemaking; and requests for documents pursuant to the 
Freedom of Information and Privacy Acts (5 U.S.C. 552 and 552a), see 
part 501, subpart E, of this chapter.


Sec.  537.802  Delegation by the Secretary of the Treasury.

    Any action that the Secretary of the Treasury is authorized to take 
pursuant to the Tom Lantos Block Burmese JADE (Junta's Anti-Democratic 
Efforts) Act of 2008 (Pub. L. 110-286); Executive Order 13047 of May 
20, 1997, Executive Order 13310 of July 28, 2003, Executive Order 13448 
of October 18, 2007, Executive Order 13464 of April 30, 2008, Executive 
Order 13619 of July 11, 2012, Executive Order 13651 of August 6, 2013, 
and any further Executive orders relating to the national emergency 
declared in Executive Order 13047, may be taken by the Director of OFAC 
or by any other person to whom the Secretary of the Treasury has 
delegated authority so to act.

Subpart I--Paperwork Reduction Act


Sec.  537.901  Paperwork Reduction Act notice.

    For approval by the Office of Management and Budget (OMB) under the 
Paperwork Reduction Act of 1995 (44 U.S.C. 3507) of information 
collections relating to recordkeeping and reporting requirements, 
licensing procedures (including those pursuant to statements of 
licensing policy), and other procedures, see Sec.  501.901 of this 
chapter. An agency may not conduct or sponsor, and a person is not 
required to respond to, a collection of information unless it displays 
a valid control number assigned by OMB.

    Dated: June 18, 2014.
Barbara C. Hammerle,
Acting Director, Office of Foreign Assets Control.
    Approved: June 18, 2014.
David S. Cohen,
Under Secretary, Office of Terrorism and Financial Intelligence, 
Department of the Treasury.
[FR Doc. 2014-14841 Filed 6-25-14; 4:15 pm]
BILLING CODE 4810-AL-P