Foreign Assets Control Regulations, 4960-4961 [E7-1702]
Download as PDF
4960
Federal Register / Vol. 72, No. 22 / Friday, February 2, 2007 / Rules and Regulations
Male
Age
Nonannuitant
table
97 .................................................................................................
98 .................................................................................................
99 .................................................................................................
100 ...............................................................................................
101 ...............................................................................................
102 ...............................................................................................
103 ...............................................................................................
104 ...............................................................................................
105 ...............................................................................................
106 ...............................................................................................
107 ...............................................................................................
108 ...............................................................................................
109 ...............................................................................................
110 ...............................................................................................
111 ...............................................................................................
112 ...............................................................................................
113 ...............................................................................................
114 ...............................................................................................
115 ...............................................................................................
116 ...............................................................................................
117 ...............................................................................................
118 ...............................................................................................
119 ...............................................................................................
120 ...............................................................................................
(e) Effective date. This section applies
for plan years beginning on or after
January 1, 2007.
Approved: January 26, 2007.
Linda M. Kroening,
Acting Deputy Commissioner for Services and
Enforcement.
Eric Solomon,
Assistant Secretary of the Treasury (Tax
Policy).
[FR Doc. E7–1703 Filed 2–1–07; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
31 CFR Part 500
Foreign Assets Control Regulations
Office of Foreign Assets
Control, Treasury.
ACTION: Final rule.
ycherry on PROD1PC64 with RULES
AGENCY:
SUMMARY: The Office of Foreign Assets
Control of the U.S. Department of the
Treasury is amending the Foreign Assets
Control Regulations, 31 CFR part 500,
by revising paragraph (b)(5) of § 500.586
to prohibit U.S. persons from registering
vessels in the Democratic People’s
Republic of Korea (‘‘North Korea’’), or
from otherwise obtaining authorization
for a vessel to fly the North Korean flag.
This paragraph already prohibits U.S.
persons from owning, leasing, operating,
14:10 Feb 01, 2007
Jkt 211001
Optional
combined
table
0.291564
0.310910
0.325614
0.339763
0.358628
0.371685
0.383040
0.392003
0.397886
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
1.000000
0.291564
0.310910
0.325614
0.339763
0.358628
0.371685
0.383040
0.392003
0.397886
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
1.000000
or insuring any North Korean-flagged
vessel.
DATES: Effective Date: February 2, 2007.
FOR FURTHER INFORMATION CONTACT:
Assistant Director for Compliance
Outreach & Implementation, tel.: 202/
622–2490, Assistant Director for
Licensing, tel.: 202/622–2480, Assistant
Director for Policy, tel.: 202/622–4855,
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 document and additional
information concerning the Office of
Foreign Assets Control (‘‘OFAC’’) are
available from OFAC’s Web site https://
www.treas.gov/ofac or via facsimile
through a 24-hour fax-on demand
service, tel.: (202) 622–0077.
Office of Foreign Assets Control
VerDate Aug<31>2005
0.291564
0.310910
0.325614
0.339763
0.358628
0.371685
0.383040
0.392003
0.397886
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
0.400000
1.000000
Annuitant
table
Female
Background
The Foreign Assets Control
Regulations (the ‘‘FACR’’), 31 CFR part
500, which are authorized under the
Trading with the Enemy Act, 50 U.S.C.
App. 1–44, imposed economic sanctions
against the Democratic People’s
Republic of Korea (‘‘North Korea’’)
beginning in 1950. Consistent with U.S.
foreign policy interests, the Office of
Foreign Assets Control (‘‘OFAC’’), on
June 19, 2000, amended the FACR to
add § 500.586, authorizing new
transactions in which North Korea or a
PO 00000
Frm 00018
Fmt 4700
Sfmt 4700
Nonannuitant
table
Annuitant
table
0.212246
0.220832
0.228169
0.234164
0.244834
0.254498
0.266044
0.279055
0.293116
0.307811
0.322725
0.337441
0.351544
0.364617
0.376246
0.386015
0.393507
0.398308
0.400000
0.400000
0.400000
0.400000
0.400000
1.000000
0.212246
0.220832
0.228169
0.234164
0.244834
0.254498
0.266044
0.279055
0.293116
0.307811
0.322725
0.337441
0.351544
0.364617
0.376246
0.386015
0.393507
0.398308
0.400000
0.400000
0.400000
0.400000
0.400000
1.000000
Optional
combined
table
0.212246
0.220832
0.228169
0.234164
0.244834
0.254498
0.266044
0.279055
0.293116
0.307811
0.322725
0.337441
0.351544
0.364617
0.376246
0.386015
0.393507
0.398308
0.400000
0.400000
0.400000
0.400000
0.400000
1.000000
North Korean national has a property
interest, subject to certain limitations set
forth in paragraph (b).
Effective May 8, 2006, OFAC further
amended the FACR by adding a new
limitation on the authorization provided
by § 500.586. This limitation,
§ 500.586(b)(5), prohibits U.S. persons
from owning, leasing, operating, or
insuring any vessel flagged by North
Korea. Based on information that OFAC
has received during its implementation
of § 500.586(b)(5) and other foreign
policy considerations, OFAC is
amending § 500.586(b)(5) to expand this
prohibition. Effective immediately, U.S.
persons are prohibited from registering
vessels in North Korea, or from
otherwise obtaining authorization for a
vessel to fly the North Korean flag.
In addition to the amendment relating
to North Korean vessels, OFAC is
making a technical amendment to the
note to § 500.586 to correct its
placement within the section and to
make minor revisions to its content.
Public Participation
Because the amendments of the FACR
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.
E:\FR\FM\02FER1.SGM
02FER1
Federal Register / Vol. 72, No. 22 / Friday, February 2, 2007 / Rules and Regulations
4961
Note to § 500.586: The exportation and
reexportation of items may be subject to
license application requirements under
regulations administered by other federal
agencies (see e.g., the Export Administration
Regulations administered by the Department
of Commerce). It should also be noted that
the shipment of strategic goods from a foreign
country to North Korea by persons subject to
the jurisdiction of the United States remains
prohibited by 31 CFR part 505. The
application requirements for a specific
license relating to such goods are found in 31
CFR 501.801.
Mr.
Paperwork Reduction Act
The collections of information related
to the FACR 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 500
Administrative practice and
procedure, Banks, Banking, Brokers,
Foreign Trade, Investments, Loans,
Securities, North Korea.
I For the reasons set forth in the
preamble, the Office of Foreign Assets
Control amends 31 CFR part 500 as
follows:
BILLING CODE 4811–42–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 117
PART 500—FOREIGN ASSETS
CONTROL REGULATIONS
[CGD08–06–037]
1. The authority citation for part 500
continues to read as follows:
I
RIN 1625–AA09
Authority: 18 U.S.C. 2332d; 31 U.S.C.
321(b); 50 U.S.C. App. 1–44; Pub. L. 101–410,
104 Stat. 890 (28 U.S.C. 2461 note); E.O.
9193, 7 FR 5205, 3 CFR, 1938–1943 Comp.,
p. 1174; E.O. 9989, 13 FR 4891, 3 CFR, 1943–
1948 Comp., p. 748.
Subpart E—Licenses, Authorizations,
and Statements of Licensing Policy
2. Amend § 500.586 by revising
paragraph (b)(5) of § 500.586, removing
the note to paragraph (b) of § 500.586,
and adding a new note to § 500.586 to
read as follows:
I
§ 500.586 Authorization of new
transactions concerning certain North
Korean property.
ycherry on PROD1PC64 with RULES
*
*
*
*
*
(b) * * *
(5)(i) Effective May 8, 2006, United
States persons are prohibited from
owning, leasing, operating, or insuring
any vessel flagged by North Korea.
(ii) Effective February 2, 2007, United
States persons are prohibited from
registering vessels in North Korea, or
from otherwise obtaining authorization
for a vessel to fly the North Korean flag.
(iii) For purposes of this section, the
term United States 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.
VerDate Aug<31>2005
14:10 Feb 01, 2007
Jkt 211001
Dated: January 9, 2007.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. E7–1702 Filed 2–1–07; 8:45 am]
Drawbridge Operation Regulation;
Mississippi River, Dubuque, IA
Coast Guard, DHS.
Temporary final rule.
AGENCY:
ACTION:
SUMMARY: The Coast Guard is changing
the drawbridge operations for the
Illinois Central Railroad Drawbridge
across the Upper Mississippi River at
Mile 579.9, at Dubuque, Iowa. Under the
rule, the drawbridge shall open on
signal if at least 24 hours advance notice
is given from 12:01 a.m., on February 2,
2007 until 8 a.m., on March 15, 2007.
This rule allows time for making
upgrades to critical mechanical
components and perform scheduled
annual maintenance/repairs to the
bridge and pier protection.
DATES: The rule is effective from 12:01
a.m., on February 2, 2007 until 8 a.m.,
on March 15, 2007.
ADDRESSES: Comments and material
received from the public, as well as
documents indicated in this preamble as
being available in the docket, are part of
docket [CGD08–06–037] and are
available for inspection or copying at
room 2.107f in the Robert A. Young
Federal Building at Eighth Coast Guard
District, between 8 a.m. and 4 p.m.,
Monday through Friday, except Federal
holidays. Commander (dwb), Eighth
Coast Guard District, Bridge Branch
maintains the public docket for this
rulemaking.
PO 00000
Frm 00019
Fmt 4700
Sfmt 4700
FOR FURTHER INFORMATION CONTACT:
Roger K. Wiebusch, Bridge
Administrator, (314) 269–2378.
SUPPLEMENTARY INFORMATION:
Regulatory Information
Under 5 U.S.C. 553(d)(3), the Coast
Guard finds that good cause exists for
making this rule effective in less than 30
days after publication in the Federal
Register. Winter conditions on the
Upper Mississippi River coupled with
the closure of Lock and Dam 11, Mile
583.0, Upper Mississippi River, at
Dubuque, Iowa from January 2, 2007
until February 28, 2007 preclude any
significant navigation demands for the
drawspan opening thereby making a 30day delay during that period
unnecessary, and a delayed effective
date would be contrary to the public
interest in prompt completion of the
bridge’s repairs and maintenance work.
On November 16, 2006, we published
a notice of proposed rulemaking
(NPRM) entitled Drawbridge Operation
Regulation; Mississippi River, Iowa and
Illinois in the Federal Register (71 FR
66711). We received no comment letters
on the proposed rule. No public hearing
was requested, and none was held.
Background and Purpose
On September 12, 2006, the Chicago,
Central & Pacific Railroad requested a
temporary change to the operation of the
Illinois Central Railroad Drawbridge,
across the Upper Mississippi River, Mile
579.9, at Dubuque, Iowa to open on
signal if at least 24 hours advance notice
is given to facilitate critical bridge repair
and annual maintenance.
The Illinois Central Railroad
Drawbridge navigation span has a
vertical clearance of 19.9 feet above
normal pool in the closed to navigation
position. Navigation on the waterway
consists primarily of commercial tows
and recreational watercraft and will not
be significantly impacted due to the
reduced navigation in winter months.
Presently, the draw opens on signal for
passage of river traffic. The Chicago,
Central & Pacific Railroad requested the
drawbridge be permitted to remain
closed-to-navigation from 12:01 a.m.,
February 2, 2007 until 8 a.m., March 15,
2007 unless 24 hours advance notice is
given of the need to open. The Illinois
Central Railroad Drawbridge, Mile
579.9, Upper Mississippi River, is
located just downstream from Lock and
Dam 11. Performing maintenance on the
bridge and pier protection during the
winter, when the number of vessels
likely to be impacted is minimal, is
preferred to the bridge closure or
advance notification requirements
during the navigation season. This
E:\FR\FM\02FER1.SGM
02FER1
Agencies
[Federal Register Volume 72, Number 22 (Friday, February 2, 2007)]
[Rules and Regulations]
[Pages 4960-4961]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-1702]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 500
Foreign Assets Control Regulations
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Office of Foreign Assets Control of the U.S. Department of
the Treasury is amending the Foreign Assets Control Regulations, 31 CFR
part 500, by revising paragraph (b)(5) of Sec. 500.586 to prohibit
U.S. persons from registering vessels in the Democratic People's
Republic of Korea (``North Korea''), or from otherwise obtaining
authorization for a vessel to fly the North Korean flag. This paragraph
already prohibits U.S. persons from owning, leasing, operating, or
insuring any North Korean-flagged vessel.
DATES: Effective Date: February 2, 2007.
FOR FURTHER INFORMATION CONTACT: Assistant Director for Compliance
Outreach & Implementation, tel.: 202/622-2490, Assistant Director for
Licensing, tel.: 202/622-2480, Assistant Director for Policy, tel.:
202/622-4855, 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 document and additional information concerning the Office of
Foreign Assets Control (``OFAC'') are available from OFAC's Web site
https://www.treas.gov/ofac or via facsimile through a 24-hour fax-on
demand service, tel.: (202) 622-0077.
Background
The Foreign Assets Control Regulations (the ``FACR''), 31 CFR part
500, which are authorized under the Trading with the Enemy Act, 50
U.S.C. App. 1-44, imposed economic sanctions against the Democratic
People's Republic of Korea (``North Korea'') beginning in 1950.
Consistent with U.S. foreign policy interests, the Office of Foreign
Assets Control (``OFAC''), on June 19, 2000, amended the FACR to add
Sec. 500.586, authorizing new transactions in which North Korea or a
North Korean national has a property interest, subject to certain
limitations set forth in paragraph (b).
Effective May 8, 2006, OFAC further amended the FACR by adding a
new limitation on the authorization provided by Sec. 500.586. This
limitation, Sec. 500.586(b)(5), prohibits U.S. persons from owning,
leasing, operating, or insuring any vessel flagged by North Korea.
Based on information that OFAC has received during its implementation
of Sec. 500.586(b)(5) and other foreign policy considerations, OFAC is
amending Sec. 500.586(b)(5) to expand this prohibition. Effective
immediately, U.S. persons are prohibited from registering vessels in
North Korea, or from otherwise obtaining authorization for a vessel to
fly the North Korean flag.
In addition to the amendment relating to North Korean vessels, OFAC
is making a technical amendment to the note to Sec. 500.586 to correct
its placement within the section and to make minor revisions to its
content.
Public Participation
Because the amendments of the FACR 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.
[[Page 4961]]
Paperwork Reduction Act
The collections of information related to the FACR 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 500
Administrative practice and procedure, Banks, Banking, Brokers,
Foreign Trade, Investments, Loans, Securities, North Korea.
0
For the reasons set forth in the preamble, the Office of Foreign Assets
Control amends 31 CFR part 500 as follows:
PART 500--FOREIGN ASSETS CONTROL REGULATIONS
0
1. The authority citation for part 500 continues to read as follows:
Authority: 18 U.S.C. 2332d; 31 U.S.C. 321(b); 50 U.S.C. App. 1-
44; Pub. L. 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); E.O. 9193,
7 FR 5205, 3 CFR, 1938-1943 Comp., p. 1174; E.O. 9989, 13 FR 4891, 3
CFR, 1943-1948 Comp., p. 748.
Subpart E--Licenses, Authorizations, and Statements of Licensing
Policy
0
2. Amend Sec. 500.586 by revising paragraph (b)(5) of Sec. 500.586,
removing the note to paragraph (b) of Sec. 500.586, and adding a new
note to Sec. 500.586 to read as follows:
Sec. 500.586 Authorization of new transactions concerning certain
North Korean property.
* * * * *
(b) * * *
(5)(i) Effective May 8, 2006, United States persons are prohibited
from owning, leasing, operating, or insuring any vessel flagged by
North Korea.
(ii) Effective February 2, 2007, United States persons are
prohibited from registering vessels in North Korea, or from otherwise
obtaining authorization for a vessel to fly the North Korean flag.
(iii) For purposes of this section, the term United States 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.
Note to Sec. 500.586: The exportation and reexportation of
items may be subject to license application requirements under
regulations administered by other federal agencies (see e.g., the
Export Administration Regulations administered by the Department of
Commerce). It should also be noted that the shipment of strategic
goods from a foreign country to North Korea by persons subject to
the jurisdiction of the United States remains prohibited by 31 CFR
part 505. The application requirements for a specific license
relating to such goods are found in 31 CFR 501.801.
Dated: January 9, 2007.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. E7-1702 Filed 2-1-07; 8:45 am]
BILLING CODE 4811-42-P