Information Regarding General Licenses A and B Under the New Executive Order of February 5, 2012, 7660-7662 [2012-3197]
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7660
Federal Register / Vol. 77, No. 29 / Monday, February 13, 2012 / Notices
information collection may be
submitted to OMB.
Title: Tire Identification and
Recordkeeping.
OMB Control Number: 2127–0050.
Form Number: This collection of
information uses no standard form.
Type of Request: Extension of a
currently approved collection of
information.
Summary of the Collection of
Information: 49 U.S.C. 30117(b) requires
each tire manufacturer to collect and
maintain records of the first purchasers
of new tires. To carry out this mandate,
49 CFR Part 574, Tire Identification and
Recordkeeping, requires tire dealers and
distributors to record the names and
addresses of retail purchasers of new
tires and the identification numbers(s)
of the tires sold. A specific form is
provided to tire dealers and distributors
by tire manufacturers for recording this
information. The completed forms are
returned to the tire manufacturers where
they are retained for not less than five
years. Part 574 requires independent tire
dealers and distributors to provide a
registration form to consumers with the
tire identification number(s) already
recorded and information identifying
the dealer/distributor. The consumer
can then record his/her name and
address and return the form to the tire
manufacturer via U.S. mail, or
alternatively, the consumer can provide
this information electronically on the
tire manufacturer’s Web site if the tire
manufacturer provides this capability.
Additionally, motor vehicle
manufacturers are required to record the
names and addresses of the first
purchasers (for purposes other than
resale), together with the identification
numbers of the tires on the new vehicle,
and retain this information for not less
than five years.
Description of the Need for the
Information and the Use of the
Information: The information is used by
a tire manufacturer after it or the agency
determines that some of its tires either
fail to comply with an applicable safety
standard or contain a safety related
defect. With the information, the tire
manufacturer can notify the first
purchaser of the tire and provide them
with any necessary information or
instructions to remedy the noncompliance situation or safety defect.
Without this information, efforts to
identify the first purchaser of tires that
have been determined to be defective or
nonconforming pursuant to Sections
30118 and 30119 of Title 49 U.S.C.
would be impeded. Further, the ability
of the purchasers to take appropriate
action in the interest of motor vehicle
safety may be compromised.
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Description of the Likely Respondents
(Including Estimated Number and
Proposed Frequency of Response to the
Collection of Information): We estimate
that the collection of information affects
10 million respondents annually. This
group consists of approximately 20 tire
manufacturers, 59,000 new tire dealers
and distributors and 10 million
consumers who choose to register their
tire purchases with tire manufacturers.
A response is required by motor vehicle
manufacturers upon each sale of a new
vehicle and by non-independent tire
dealers with the each sale of a new tire.
A consumer may elect to respond when
purchasing a new tire from an
independent tire dealer.
Estimate of the Total Annual
Reporting and Recordkeeping Burden
Resulting from the Collection of
Information: The estimated burden is as
follows:
New tire dealers and distributors:
59,000.
Consumers: 10,000,000.
Total tire registrations (manual):
54,000,000.
Total tire registration hours (manual):
225,000.
Recordkeeping hours (manual):
25,000.
Total annual tire registration and
recordkeeping hours: 250,000.
Comments are invited on: Whether
the proposed collection of information
is necessary for the proper performance
of the functions of the Department,
including whether the information will
have practical utility; the accuracy of
the Department’s estimate of the burden
of the proposed information collection;
ways to enhance the quality, utility and
clarity of the information to be
collected; and ways to minimize the
burden of the collection of information
on respondents, including the use of
automated collection techniques or
other forms of information technology.
A comment to OMB is most effective if
OMB receives it within 30 days of
publication of this notice.
Issued on: February 8, 2012.
Christopher J. Bonanti,
Associate Administrator for Rulemaking.
[FR Doc. 2012–3302 Filed 2–10–12; 8:45 am]
BILLING CODE 4910–59–P
DEPARTMENT OF THE TREASURY
Office of the Secretary
the Department of the Treasury is
publishing a current list of countries
which require or may require
participation in, or cooperation with, an
international boycott (within the
meaning of section 999(b)(3) of the
Internal Revenue Code of 1986).
On the basis of the best information
currently available to the Department of
the Treasury, the following countries
require or may require participation in,
or cooperation with, an international
boycott (within the meaning of section
999(b)(3) of the Internal Revenue Code
of 1986).
Kuwait
Lebanon
Libya
Qatar
Saudi Arabia
Syria
United Arab Emirates
Yemen
Iraq is not included in this list, but its
status with respect to future lists
remains under review by the
Department of the Treasury.
Dated: February 3, 2012.
Michael J. Caballero,
International Tax Counsel (Tax Policy).
[FR Doc. 2012–3090 Filed 2–10–12; 8:45 am]
BILLING CODE 4810–25–M
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Information Regarding General
Licenses A and B Under the New
Executive Order of February 5, 2012
Office of Foreign Assets
Control, Treasury.
ACTION: Notice.
AGENCY:
The Department of the
Treasury’s Office of Foreign Assets
Control (‘‘OFAC’’) is providing
information regarding General Licenses
A and B issued pursuant to the new
Executive Order of February 5, 2012
(‘‘Blocking Property of the Government
of Iran and Iranian Financial
Institutions’’) (‘‘new Executive Order’’).
DATES: General Licenses A and B went
into effect on February 6, 2012.
FOR FURTHER INFORMATION CONTACT:
Assistant Director for Sanctions,
Compliance, & Evaluation, Office of
Foreign Assets Control, Department of
the Treasury, Washington, DC 20220,
tel.: 202/622–2490.
SUPPLEMENTARY INFORMATION:
SUMMARY:
List of Countries Requiring
Cooperation With an International
Boycott
Electronic and Facsimile Availability
In accordance with section 999(a)(3)
of the Internal Revenue Code of 1986,
This document and additional
information concerning OFAC are
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Federal Register / Vol. 77, No. 29 / Monday, February 13, 2012 / Notices
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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-ondemand service, tel.: 202/622–0077.
Background
On February 5, 2012, the President,
invoking the authority of, inter alia, the
International Emergency Economic
Powers Act (50 U.S.C. 1701–1706)
(‘‘IEEPA’’), issued a new Executive
Order (‘‘Blocking Property of the
Government of Iran and Iranian
Financial Institutions’’) (‘‘new Executive
Order’’), in order to take additional
steps with respect to the national
emergency declared in Executive Order
12957 of March 15, 1995, particularly in
light of the deceptive practices of the
Central Bank of Iran and other Iranian
banks to conceal transactions of
sanctioned parties, the deficiencies in
Iran’s anti-money laundering regime
and the weaknesses in its
implementation, and the continuing and
unacceptable risk posed to the
international financial system by Iran’s
activities.
The new Executive Order blocks the
property and interests in property of the
Government of Iran, including the
Central Bank of Iran, any Iranian
financial institution, and any person
determined by the Secretary of the
Treasury, in consultation with the
Secretary of State, 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 the new Executive
Order.
Certain general licenses set forth in
the Iranian Transactions Regulations, 31
CFR part 560 (the ‘‘ITR’’), and certain
specific licenses issued pursuant to 31
CFR chapter V, including Part 560,
authorize transactions with the
‘‘Government of Iran,’’ as the term is
defined in section 7(d) of the new
Executive Order, or ‘‘Iranian financial
institutions,’’ as the term is defined in
section 7(f) of the new Executive Order.
The issuance of the new Executive
Order, blocking the property and
interests in property of the Government
of Iran and Iranian financial
institutions, would have rendered these
general and specific licenses invalid to
the extent that they authorized
transactions with the Government of
Iran or an Iranian financial institution.
OFAC has taken action to preserve these
licenses under the new Executive Order.
In addition, OFAC has taken action to
ensure that noncommercial, personal
remittances may continue to flow to or
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from Iran. The issuance of the new
Executive Order, blocking all Iranian
financial institutions, would have
prohibited U.S. persons from processing
noncommercial, personal remittances to
or from Iran that involve Iranian
financial institutions. General License B
authorizes United States depository
institutions and United States registered
brokers or dealers in securities to
process transfers of funds to or from Iran
or for or on behalf of an individual
ordinarily resident in Iran, in cases in
which the transfer involves a
noncommercial, personal remittance,
subject to certain restrictions.
General Licenses A and B are set forth
below. They also are available on
OFAC’s Web site at: www.treasury.gov/
ofac.
General License A—Certain
Transactions Otherwise Authorized
Under General or Specific Licenses Set
Forth in or Issued Pursuant to 31 CFR
Chapter V Authorized
(a) Effective February 6, 2012, all
transactions involving property and
interests in property of the Government
of Iran or Iranian financial institutions
authorized under general licenses set
forth in the Iranian Transactions
Regulations, 31 CFR part 560 (the
‘‘ITR’’), are hereby authorized under the
new Executive Order of February 5,
2012 (‘‘Blocking Property of the
Government of Iran and Iranian
Financial Institutions’’) (‘‘new Executive
Order’’), except as set forth in
paragraphs (c) and (d) of this general
license.
(b) Effective February 6, 2012, all
transactions involving property and
interests in property of the Government
of Iran or Iranian financial institutions
authorized under specific licenses
issued pursuant to any part of 31 CFR
chapter V, including specific licenses
issued pursuant to the Trade Sanctions
Reform and Export Enhancement Act of
2000 (22 U.S.C. 7201–7211), are hereby
authorized under the new Executive
Order, and such specific licenses shall
remain in effect according to their
terms, provided that such specific
licenses have an expiration date. If a
specific license has no expiration date:
(1) If it was issued pursuant to any
part or parts of 31 CFR chapter V, but
was not issued under 31 CFR part 535,
then all transactions involving property
and interests in property of the
Government of Iran or Iranian financial
institutions authorized under such a
specific license are hereby authorized
under the new Executive Order until
April 6, 2012;
(2) If it was issued pursuant to 31 CFR
part 535, including a specific license
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7661
issued pursuant to 31 CFR part 535 and
another part or other parts of 31 CFR
chapter V, then all transactions
involving property and interests in
property of the Government of Iran or
Iranian financial institutions authorized
under such a specific license are hereby
authorized under the new Executive
Order, and such a specific license shall
remain in effect according to its terms.
(c) This general license does not
authorize any transactions authorized
by § 560.517(a)(3) or (b)(2) of the ITR.
Such transactions involving property
and interests in property of the
Government of Iran or an Iranian
financial institution are prohibited by
the new Executive Order.
(d) This general license does not
authorize any payments from blocked
funds or debits to blocked accounts,
except for payments from funds or
debits to accounts blocked pursuant to
31 CFR part 535 that are authorized by
specific licenses issued pursuant to 31
CFR chapter V.
(e) Definitions. As used in this general
license:
(1) The term Government of Iran shall
have the meaning set forth in section
7(d) of the new Executive Order; and
(2) The term Iranian financial
institutions shall have the meaning set
forth in section 7(f) of the new
Executive Order.
General License B—Certain
Noncommercial, Personal Remittances
to or From Iran Authorized
(a) Effective February 6, 2012, United
States depository institutions and
United States registered brokers or
dealers in securities are authorized to
process transfers of funds to or from Iran
or for or on behalf of an individual
ordinarily resident in Iran who is not
included within the term ‘‘Government
of Iran,’’ as defined in section 7(d) of the
new Executive Order of February 5,
2012 (‘‘Blocking Property of the
Government of Iran and Iranian
Financial Institutions’’) (‘‘new Executive
Order’’), to the extent the transfer is
otherwise prohibited by the new
Executive Order, in cases in which the
transfer involves a noncommercial,
personal remittance, provided the
transfer is not by, to, or through any of
the following:
(1) A person whose property and
interests in property are blocked
pursuant to the Weapons of Mass
Destruction Proliferators Sanctions
Regulations, 31 CFR part 544
(‘‘WMDPSR’’), or the Global Terrorism
Sanctions Regulations, 31 CFR part 594
(‘‘GTSR’’); or
(2) A person whose property and
interests in property are blocked
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7662
Federal Register / Vol. 77, No. 29 / Monday, February 13, 2012 / Notices
pursuant to any other part of 31 CFR
chapter V, or any Executive order,
except an Iranian financial institution
whose property and interests in
property are blocked solely pursuant to
the new Executive Order.
(b) Noncommercial, personal
remittances do not include charitable
donations to or for the benefit of an
entity or funds transfers for use in
supporting or operating a business,
including a family-owned enterprise.
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Note to paragraph (b) of General License
B: Charitable donations of funds to or for the
benefit of an entity in Iran require a specific
license.
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(c) The transferring institutions
identified in paragraph (a) of this
general license may rely on the
originator of a funds transfer with regard
to compliance with paragraph (a) of this
general license, provided that the
transferring institution does not know or
have reason to know that the funds
transfer is not in compliance with
paragraph (a) of this general license.
(d) Example. A United States
depository institution may transmit a
noncommercial, personal remittance
from a customer in the United States to
her mother in Iran, provided the
remittance is routed through a third-
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country financial institution to an
Iranian financial institution that has not
been designated under the WMDPSR or
the GTSR or any other part of 31 CFR
chapter V, or any Executive order, but
whose property and interests in
property are blocked solely under the
new Executive Order.
Dated: February 6, 2012.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. 2012–3197 Filed 2–10–12; 8:45 am]
BILLING CODE 4810–AL–P
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]]>Agencies
[Federal Register Volume 77, Number 29 (Monday, February 13, 2012)]
[Notices]
[Pages 7660-7662]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-3197]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Information Regarding General Licenses A and B Under the New
Executive Order of February 5, 2012
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (``OFAC'') is providing information regarding General Licenses
A and B issued pursuant to the new Executive Order of February 5, 2012
(``Blocking Property of the Government of Iran and Iranian Financial
Institutions'') (``new Executive Order'').
DATES: General Licenses A and B went into effect on February 6, 2012.
FOR FURTHER INFORMATION CONTACT: Assistant Director for Sanctions,
Compliance, & Evaluation, Office of Foreign Assets Control, Department
of the Treasury, Washington, DC 20220, tel.: 202/622-2490.
SUPPLEMENTARY INFORMATION:
Electronic and Facsimile Availability
This document and additional information concerning OFAC are
[[Page 7661]]
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 February 5, 2012, the President, invoking the authority of,
inter alia, the International Emergency Economic Powers Act (50 U.S.C.
1701-1706) (``IEEPA''), issued a new Executive Order (``Blocking
Property of the Government of Iran and Iranian Financial
Institutions'') (``new Executive Order''), in order to take additional
steps with respect to the national emergency declared in Executive
Order 12957 of March 15, 1995, particularly in light of the deceptive
practices of the Central Bank of Iran and other Iranian banks to
conceal transactions of sanctioned parties, the deficiencies in Iran's
anti-money laundering regime and the weaknesses in its implementation,
and the continuing and unacceptable risk posed to the international
financial system by Iran's activities.
The new Executive Order blocks the property and interests in
property of the Government of Iran, including the Central Bank of Iran,
any Iranian financial institution, and any person determined by the
Secretary of the Treasury, in consultation with the Secretary of State,
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 the new Executive Order.
Certain general licenses set forth in the Iranian Transactions
Regulations, 31 CFR part 560 (the ``ITR''), and certain specific
licenses issued pursuant to 31 CFR chapter V, including Part 560,
authorize transactions with the ``Government of Iran,'' as the term is
defined in section 7(d) of the new Executive Order, or ``Iranian
financial institutions,'' as the term is defined in section 7(f) of the
new Executive Order. The issuance of the new Executive Order, blocking
the property and interests in property of the Government of Iran and
Iranian financial institutions, would have rendered these general and
specific licenses invalid to the extent that they authorized
transactions with the Government of Iran or an Iranian financial
institution. OFAC has taken action to preserve these licenses under the
new Executive Order.
In addition, OFAC has taken action to ensure that noncommercial,
personal remittances may continue to flow to or from Iran. The issuance
of the new Executive Order, blocking all Iranian financial
institutions, would have prohibited U.S. persons from processing
noncommercial, personal remittances to or from Iran that involve
Iranian financial institutions. General License B authorizes United
States depository institutions and United States registered brokers or
dealers in securities to process transfers of funds to or from Iran or
for or on behalf of an individual ordinarily resident in Iran, in cases
in which the transfer involves a noncommercial, personal remittance,
subject to certain restrictions.
General Licenses A and B are set forth below. They also are
available on OFAC's Web site at: www.treasury.gov/ofac.
General License A--Certain Transactions Otherwise Authorized Under
General or Specific Licenses Set Forth in or Issued Pursuant to 31 CFR
Chapter V Authorized
(a) Effective February 6, 2012, all transactions involving property
and interests in property of the Government of Iran or Iranian
financial institutions authorized under general licenses set forth in
the Iranian Transactions Regulations, 31 CFR part 560 (the ``ITR''),
are hereby authorized under the new Executive Order of February 5, 2012
(``Blocking Property of the Government of Iran and Iranian Financial
Institutions'') (``new Executive Order''), except as set forth in
paragraphs (c) and (d) of this general license.
(b) Effective February 6, 2012, all transactions involving property
and interests in property of the Government of Iran or Iranian
financial institutions authorized under specific licenses issued
pursuant to any part of 31 CFR chapter V, including specific licenses
issued pursuant to the Trade Sanctions Reform and Export Enhancement
Act of 2000 (22 U.S.C. 7201-7211), are hereby authorized under the new
Executive Order, and such specific licenses shall remain in effect
according to their terms, provided that such specific licenses have an
expiration date. If a specific license has no expiration date:
(1) If it was issued pursuant to any part or parts of 31 CFR
chapter V, but was not issued under 31 CFR part 535, then all
transactions involving property and interests in property of the
Government of Iran or Iranian financial institutions authorized under
such a specific license are hereby authorized under the new Executive
Order until April 6, 2012;
(2) If it was issued pursuant to 31 CFR part 535, including a
specific license issued pursuant to 31 CFR part 535 and another part or
other parts of 31 CFR chapter V, then all transactions involving
property and interests in property of the Government of Iran or Iranian
financial institutions authorized under such a specific license are
hereby authorized under the new Executive Order, and such a specific
license shall remain in effect according to its terms.
(c) This general license does not authorize any transactions
authorized by Sec. 560.517(a)(3) or (b)(2) of the ITR. Such
transactions involving property and interests in property of the
Government of Iran or an Iranian financial institution are prohibited
by the new Executive Order.
(d) This general license does not authorize any payments from
blocked funds or debits to blocked accounts, except for payments from
funds or debits to accounts blocked pursuant to 31 CFR part 535 that
are authorized by specific licenses issued pursuant to 31 CFR chapter
V.
(e) Definitions. As used in this general license:
(1) The term Government of Iran shall have the meaning set forth in
section 7(d) of the new Executive Order; and
(2) The term Iranian financial institutions shall have the meaning
set forth in section 7(f) of the new Executive Order.
General License B--Certain Noncommercial, Personal Remittances to or
From Iran Authorized
(a) Effective February 6, 2012, United States depository
institutions and United States registered brokers or dealers in
securities are authorized to process transfers of funds to or from Iran
or for or on behalf of an individual ordinarily resident in Iran who is
not included within the term ``Government of Iran,'' as defined in
section 7(d) of the new Executive Order of February 5, 2012 (``Blocking
Property of the Government of Iran and Iranian Financial
Institutions'') (``new Executive Order''), to the extent the transfer
is otherwise prohibited by the new Executive Order, in cases in which
the transfer involves a noncommercial, personal remittance, provided
the transfer is not by, to, or through any of the following:
(1) A person whose property and interests in property are blocked
pursuant to the Weapons of Mass Destruction Proliferators Sanctions
Regulations, 31 CFR part 544 (``WMDPSR''), or the Global Terrorism
Sanctions Regulations, 31 CFR part 594 (``GTSR''); or
(2) A person whose property and interests in property are blocked
[[Page 7662]]
pursuant to any other part of 31 CFR chapter V, or any Executive order,
except an Iranian financial institution whose property and interests in
property are blocked solely pursuant to the new Executive Order.
(b) Noncommercial, personal remittances do not include charitable
donations to or for the benefit of an entity or funds transfers for use
in supporting or operating a business, including a family-owned
enterprise.
Note to paragraph (b) of General License B: Charitable
donations of funds to or for the benefit of an entity in Iran
require a specific license.
(c) The transferring institutions identified in paragraph (a) of
this general license may rely on the originator of a funds transfer
with regard to compliance with paragraph (a) of this general license,
provided that the transferring institution does not know or have reason
to know that the funds transfer is not in compliance with paragraph (a)
of this general license.
(d) Example. A United States depository institution may transmit a
noncommercial, personal remittance from a customer in the United States
to her mother in Iran, provided the remittance is routed through a
third-country financial institution to an Iranian financial institution
that has not been designated under the WMDPSR or the GTSR or any other
part of 31 CFR chapter V, or any Executive order, but whose property
and interests in property are blocked solely under the new Executive
Order.
Dated: February 6, 2012.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. 2012-3197 Filed 2-10-12; 8:45 am]
BILLING CODE 4810-AL-P
