Iranian Transactions Regulations, 15583-15584 [05-6046]
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Federal Register / Vol. 70, No. 58 / Monday, March 28, 2005 / Rules and Regulations
The Amendment
DATES:
For the reasons set forth above, the
Federal Aviation Administration is
delaying the effective date of 14 CFR
145.163 and amending part 145 as
follows:
I
PART 145—REPAIR STATIONS
1. The authority citation for part 145 is
revised to read as follows:
I
Authority: 49 U.S.C. 106(g), 40113, 44701–
44702, 44707, 44709, 44717.
2. Revise § 145.163(a) introductory text
to read as follows:
I
§ 145.163
Effective December 23, 2004.
FOR FURTHER INFORMATION CONTACT:
Training requirements.
(a) A certificated repair station must
have an employee training program
approved by the FAA that consists of
initial and recurrent training. For
purposes of meeting the requirements of
this paragraph, beginning April 6,
2006—
*
*
*
*
*
Issued in Washington, DC, on March 17,
2005.
Marion C. Blakey,
Administrator.
[FR Doc. 05–5856 Filed 3–22–05; 3:29 pm]
BILLING CODE 4910–13–P
Celeste Johnston, Center for Food Safety
and Applied Nutrition (HFS–265), Food
and Drug Administration, 5100 Paint
Branch Pkwy., College Park, MD 20740–
3835, 301–436–1282.
SUPPLEMENTARY INFORMATION: In FR Doc.
04–28043, appearing on page 76844 in
the Federal Register of Thursday,
December 23, 2004, the following
corrections are made:
1. On page 76844, in the second
column, under ‘‘I. Introduction,’’ the
second sentence is corrected to read:
‘‘Since the publication of the notice,
IBA Guardion, a division of IBA
responsible for this petition, has been
sold to PPM Ventures, which
subsequently changed the name of this
division to Sterigenics International,
Inc., 2015 Spring Rd., suite 650, Oak
Brook, IL 60523.’’
2. On page 76846, in the third
column, under ‘‘VIII. References,’’ the
citation for reference 2 is corrected to
read ‘‘Gregoire, O., Cleland, M. R.,
Mittendorfer, J., et al., ‘‘Radiological
Safety of Food Irradiation With High
Energy X-Rays: Theoretical Expectations
and Experimental Evidence,’’ Radiation
Physics and Chemistry, vol. 67, pp. 169–
183, 2003.’’
Dated: March 18, 2005.
Leslye M. Fraser,
Director, Office of Regulations and Policy,
Center for Food Safety and Applied Nutrition.
[FR Doc. 05–6024 Filed 3–25–05; 8:45 am]
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Food and Drug Administration
BILLING CODE 4160–01–S
21 CFR Part 179
[Docket No. 2003F–0088]
DEPARTMENT OF THE TREASURY
Irradiation in the Production,
Processing, and Handling of Food;
Correction
AGENCY:
Office of Foreign Assets Control
Food and Drug Administration,
HHS.
ACTION:
31 CFR Part 560
Iranian Transactions Regulations
Final rule; correction.
VerDate jul<14>2003
15:00 Mar 25, 2005
Jkt 205001
Office of Foreign Assets
Control, Treasury.
ACTION: Final rule.
AGENCY:
The Food and Drug
Administration (FDA) is correcting a
final rule that appeared in the Federal
Register of December 23, 2004 (69 FR
76844). The document amended the
food additive regulations by establishing
a new maximum permitted energy level
of x rays for treating food of 7.5 million
electron volts provided the x rays are
generated from machine sources that
use tantalum or gold as the target
material, with no change in the
maximum permitted dose levels or uses
currently permitted by FDA’s food
additive regulations. The document was
published with two errors in the
preamble section. This document
corrects those errors.
SUMMARY:
SUMMARY: The Office of Foreign Assets
Control (‘‘OFAC’’) of the U.S.
Department of the Treasury is revising
the Iranian Transactions Regulations to
clarify the applicability of certain
general licenses to brokers and dealers
in securities.
DATES: Effective Date: March 28, 2005.
FOR FURTHER INFORMATION CONTACT:
Chief of Policy Planning and Program
Management, tel. 202/622–4855, Chief
of Licensing, tel.: 202/622–2480, Chief
of Compliance, tel. 202/622–2490, or
Chief Counsel, tel.: 202/622–2410,
Office of Foreign Assets Control,
PO 00000
Frm 00031
Fmt 4700
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15583
Department of the Treasury,
Washington, DC 20220 (not toll free
numbers).
SUPPLEMENTARY INFORMATION:
Electronic and Facsimile Availability
This file is available for download
without charge in ASCII and Adobe
Acrobat readable (*.PDF) formats at
GPO Access. GPO Access supports
HTTP, FTP, and Telnet at
fedbbs.access.gpo.gov. It may also be
accessed by modem dialup at 202/512–
1387 followed by typing ‘‘/GO/FAC.’’
Paper copies of this document can be
obtained by calling the Government
Printing Office at 202/512–1530. This
document and additional information
concerning the programs of the Office of
Foreign Assets Control are available for
downloading from the Office’s Internet
Home Page: https://www.treas.gov/ofac,
or via FTP at ofacftp.treas.gov.
Facsimiles of information are available
through the Office’s 24-hour fax-ondemand service: call 202/622–0077
using a fax machine, fax modem, or
(within the United States) a touch-tone
telephone.
Background
The Iranian Transactions Regulations,
31 CFR part 560 (the ‘‘ITR’’), implement
a series of Executive orders, beginning
with Executive Order 12957, issued on
March 15, 1995. In that order, the
President declared a national emergency
pursuant to IEEPA to deal with the
unusual and extraordinary threat to the
national security, foreign policy, and
economy of the United States
constituted by the actions and policies
of the Government of Iran, including its
support for international terrorism, its
efforts to undermine the Middle East
peace process and its efforts to acquire
weapons of mass destruction and the
means to deliver them. To deal with this
threat, Executive Order 12957 imposed
prohibitions on certain transactions
with respect to the development of
Iranian petroleum resources. On May 6,
1995, the President issued Executive
Order 12959 imposing comprehensive
trade sanctions to further respond to
this threat, and on August 19, 1997, the
President issued Executive Order 13059
consolidating and clarifying the
previous orders.
The Treasury Department’s Office of
Foreign Assets Control (‘‘OFAC’’) is
amending the ITR to include definitions
relating to registered brokers and dealers
in securities and to clarify the
application to such brokers and dealers
of general licenses relating to funds
transfers to and from Iran and to the
operation of Iranian accounts. To this
E:\FR\FM\28MRR1.SGM
28MRR1
15584
Federal Register / Vol. 70, No. 58 / Monday, March 28, 2005 / Rules and Regulations
end, OFAC is adding a new provision at
31 CFR 560.321 to establish a regulatory
definition of the term United States
registered broker or dealer in securities
and amending § 560.320 of the ITR to
clarify that the term Iranian accounts
includes accounts of persons located in
Iran or of the Government of Iran
maintained on the books of a United
States registered broker or dealer in
securities. Section 560.516 of the ITR is
being amended to clarify that United
States registered brokers or dealers in
securities are authorized to process
certain transfers of funds to or from Iran.
Section 560.517 of the ITR is being
amended to clarify that United States
registered brokers or dealers in
securities are within the scope of the
general license authorizing the
exportation of certain Iranian accountrelated services to Iran. A corresponding
technical change to § 560.532 of the ITR
is also included.
Public Participation
Because the amendment of the ITR
involves a foreign affairs function, the
provisions of Executive Order 12866
and the Administrative Procedure Act (5
U.S.C. 553) (the ‘‘APA’’) 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 31 CFR parts 31 CFR parts 560 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 560
Administrative practice and
procedure, Banks, banking, Brokers,
Securities, Iran.
I For the reasons set forth in the
Preamble, 31 CFR part 560 is amended
as follows:
PART 560—IRANIAN TRANSACTIONS
REGULATIONS
1. The authority citation for part 560
continues to read as follows:
I
VerDate jul<14>2003
15:00 Mar 25, 2005
Jkt 205001
Authority: 3 U.S.C. 301; 18 U.S.C. 2339B,
2332d; 22 U.S.C. 2349aa–9; 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);
Pub. L. 106–387, 114 Stat. 1549; E.O. 12613,
52 FR 41940, 3 CFR, 1987 Comp., p. 256; E.O.
12957, 60 FR 14615, 3 CFR, 1995 Comp., p.
332; E.O. 12959, 60 FR 24757, 3 CFR, 1995,
Comp., 356; E.O. 13059, 62 FR 44531, 3 CFR,
1997 Comp., p. 217.
Subpart C—General Definitions
I
2. Revise § 560.320 to read as follows:
§ 560.320
Iranian accounts.
The term Iranian accounts means
accounts of persons located in Iran or of
the Government of Iran maintained on
the books of either a United States
depository institution or a United States
registered broker or dealer in securities.
I 3. Add a new § 560.321 to subpart C to
read as follows:
§ 560.321 United States registered broker
or dealer in securities.
The term United States 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.
Subpart E—Licenses, Authorizations,
and Statements of Licensing Policy
4. Amend § 560.516 by redesignating
paragraphs (b) through (d) as paragraphs
(c) through (e), respectively, and adding
a new paragraph (b) to read as follows:
I
§ 560.516 Payment and United States
dollar clearing transactions involving Iran.
*
*
*
*
*
(b) United States registered brokers or
dealers in securities are authorized to
process transfers of funds to or from
Iran, or for the direct or indirect benefit
of persons in Iran or the Government of
Iran, if the transfer is covered in full by
any of the conditions set forth in
paragraphs (a)(2) through (4) of this
section and does not involve the
debiting or crediting of an Iranian
account.
*
*
*
*
*
I 5. Amend § 560.517 by revising the
section heading and paragraph (b) and
adding paragraph (c) to read as follows:
PO 00000
Frm 00032
Fmt 4700
Sfmt 4700
§ 560.517 Exportation of services: Iranian
accounts at United States depository
institutions or United States registered
brokers or dealers in securities.
*
*
*
*
*
(b) United States registered brokers or
dealers in securities are prohibited from
performing services with respect to
Iranian accounts, as defined in
§ 560.320, at the instruction of the
Government of Iran or persons located
in Iran, except that United States
registered brokers or dealers in
securities are authorized to provide and
be compensated for services and
incidental transactions with respect to:
(1) The limited maintenance of an
Iranian account, including only the
payment into such account of interest,
cash dividends, and stock dividends;
the debiting of service charges; and the
execution of stock splits and dividend
reinvestment plans; and
(2) At the request of the account party,
the closing of Iranian accounts through
the one-time liquidation of all assets in
the account at fair market value and the
lump sum transfer only to the account
party of all proceeds derived therefrom
and all remaining funds in the account.
(c) Specific licenses may be issued
with respect to the operation of Iranian
accounts that constitute accounts of:
(1) Foreign government missions and
their personnel in Iran; or
(2) Missions of the Government of
Iran in the United States.
6. Revise the last sentence of paragraph
(d) of § 560.532 to read as follows:
I
§ 560.532 Payment for and financing of
export and reexport of commercial
commodities, medicine, and medical
devices.
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*
(d) * * * See § 560.516(c).
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Dated: February 9, 2005.
Robert W. Werner,
Director, Office of Foreign Assets Control.
Approved: February 18, 2005.
Juan C. Zarate,
Assistant Secretary (Terrorist Financing).
[FR Doc. 05–6046 Filed 3–23–05; 3:08 pm]
BILLING CODE 4810–25–P
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28MRR1
]]>Agencies
[Federal Register Volume 70, Number 58 (Monday, March 28, 2005)]
[Rules and Regulations]
[Pages 15583-15584]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-6046]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 560
Iranian Transactions Regulations
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Office of Foreign Assets Control (``OFAC'') of the U.S.
Department of the Treasury is revising the Iranian Transactions
Regulations to clarify the applicability of certain general licenses to
brokers and dealers in securities.
DATES: Effective Date: March 28, 2005.
FOR FURTHER INFORMATION CONTACT: Chief of Policy Planning and Program
Management, tel. 202/622-4855, Chief of Licensing, tel.: 202/622-2480,
Chief of Compliance, tel. 202/622-2490, or Chief Counsel, tel.: 202/
622-2410, Office of Foreign Assets Control, Department of the Treasury,
Washington, DC 20220 (not toll free numbers).
SUPPLEMENTARY INFORMATION:
Electronic and Facsimile Availability
This file is available for download without charge in ASCII and
Adobe Acrobat readable (*.PDF) formats at GPO Access. GPO Access
supports HTTP, FTP, and Telnet at fedbbs.access.gpo.gov. It may also be
accessed by modem dialup at 202/512-1387 followed by typing ``/GO/
FAC.'' Paper copies of this document can be obtained by calling the
Government Printing Office at 202/512-1530. This document and
additional information concerning the programs of the Office of Foreign
Assets Control are available for downloading from the Office's Internet
Home Page: https://www.treas.gov/ofac, or via FTP at ofacftp.treas.gov.
Facsimiles of information are available through the Office's 24-hour
fax-on-demand service: call 202/622-0077 using a fax machine, fax
modem, or (within the United States) a touch-tone telephone.
Background
The Iranian Transactions Regulations, 31 CFR part 560 (the
``ITR''), implement a series of Executive orders, beginning with
Executive Order 12957, issued on March 15, 1995. In that order, the
President declared a national emergency pursuant to IEEPA to deal with
the unusual and extraordinary threat to the national security, foreign
policy, and economy of the United States constituted by the actions and
policies of the Government of Iran, including its support for
international terrorism, its efforts to undermine the Middle East peace
process and its efforts to acquire weapons of mass destruction and the
means to deliver them. To deal with this threat, Executive Order 12957
imposed prohibitions on certain transactions with respect to the
development of Iranian petroleum resources. On May 6, 1995, the
President issued Executive Order 12959 imposing comprehensive trade
sanctions to further respond to this threat, and on August 19, 1997,
the President issued Executive Order 13059 consolidating and clarifying
the previous orders.
The Treasury Department's Office of Foreign Assets Control
(``OFAC'') is amending the ITR to include definitions relating to
registered brokers and dealers in securities and to clarify the
application to such brokers and dealers of general licenses relating to
funds transfers to and from Iran and to the operation of Iranian
accounts. To this
[[Page 15584]]
end, OFAC is adding a new provision at 31 CFR 560.321 to establish a
regulatory definition of the term United States registered broker or
dealer in securities and amending Sec. 560.320 of the ITR to clarify
that the term Iranian accounts includes accounts of persons located in
Iran or of the Government of Iran maintained on the books of a United
States registered broker or dealer in securities. Section 560.516 of
the ITR is being amended to clarify that United States registered
brokers or dealers in securities are authorized to process certain
transfers of funds to or from Iran. Section 560.517 of the ITR is being
amended to clarify that United States registered brokers or dealers in
securities are within the scope of the general license authorizing the
exportation of certain Iranian account-related services to Iran. A
corresponding technical change to Sec. 560.532 of the ITR is also
included.
Public Participation
Because the amendment of the ITR involves a foreign affairs
function, the provisions of Executive Order 12866 and the
Administrative Procedure Act (5 U.S.C. 553) (the ``APA'') 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 31 CFR parts 31 CFR parts
560 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 560
Administrative practice and procedure, Banks, banking, Brokers,
Securities, Iran.
0
For the reasons set forth in the Preamble, 31 CFR part 560 is amended
as follows:
PART 560--IRANIAN TRANSACTIONS REGULATIONS
0
1. The authority citation for part 560 continues to read as follows:
Authority: 3 U.S.C. 301; 18 U.S.C. 2339B, 2332d; 22 U.S.C.
2349aa-9; 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); Pub. L. 106-387, 114
Stat. 1549; E.O. 12613, 52 FR 41940, 3 CFR, 1987 Comp., p. 256; E.O.
12957, 60 FR 14615, 3 CFR, 1995 Comp., p. 332; E.O. 12959, 60 FR
24757, 3 CFR, 1995, Comp., 356; E.O. 13059, 62 FR 44531, 3 CFR, 1997
Comp., p. 217.
Subpart C--General Definitions
0
2. Revise Sec. 560.320 to read as follows:
Sec. 560.320 Iranian accounts.
The term Iranian accounts means accounts of persons located in Iran
or of the Government of Iran maintained on the books of either a United
States depository institution or a United States registered broker or
dealer in securities.
0
3. Add a new Sec. 560.321 to subpart C to read as follows:
Sec. 560.321 United States registered broker or dealer in securities.
The term United States 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.
Subpart E--Licenses, Authorizations, and Statements of Licensing
Policy
0
4. Amend Sec. 560.516 by redesignating paragraphs (b) through (d) as
paragraphs (c) through (e), respectively, and adding a new paragraph
(b) to read as follows:
Sec. 560.516 Payment and United States dollar clearing transactions
involving Iran.
* * * * *
(b) United States registered brokers or dealers in securities are
authorized to process transfers of funds to or from Iran, or for the
direct or indirect benefit of persons in Iran or the Government of
Iran, if the transfer is covered in full by any of the conditions set
forth in paragraphs (a)(2) through (4) of this section and does not
involve the debiting or crediting of an Iranian account.
* * * * *
0
5. Amend Sec. 560.517 by revising the section heading and paragraph
(b) and adding paragraph (c) to read as follows:
Sec. 560.517 Exportation of services: Iranian accounts at United
States depository institutions or United States registered brokers or
dealers in securities.
* * * * *
(b) United States registered brokers or dealers in securities are
prohibited from performing services with respect to Iranian accounts,
as defined in Sec. 560.320, at the instruction of the Government of
Iran or persons located in Iran, except that United States registered
brokers or dealers in securities are authorized to provide and be
compensated for services and incidental transactions with respect to:
(1) The limited maintenance of an Iranian account, including only
the payment into such account of interest, cash dividends, and stock
dividends; the debiting of service charges; and the execution of stock
splits and dividend reinvestment plans; and
(2) At the request of the account party, the closing of Iranian
accounts through the one-time liquidation of all assets in the account
at fair market value and the lump sum transfer only to the account
party of all proceeds derived therefrom and all remaining funds in the
account.
(c) Specific licenses may be issued with respect to the operation
of Iranian accounts that constitute accounts of:
(1) Foreign government missions and their personnel in Iran; or
(2) Missions of the Government of Iran in the United States.
0
6. Revise the last sentence of paragraph (d) of Sec. 560.532 to read
as follows:
Sec. 560.532 Payment for and financing of export and reexport of
commercial commodities, medicine, and medical devices.
* * * * *
(d) * * * See Sec. 560.516(c).
* * * * *
Dated: February 9, 2005.
Robert W. Werner,
Director, Office of Foreign Assets Control.
Approved: February 18, 2005.
Juan C. Zarate,
Assistant Secretary (Terrorist Financing).
[FR Doc. 05-6046 Filed 3-23-05; 3:08 pm]
BILLING CODE 4810-25-P
