Yemen Sanctions Regulations, 67276-67282 [2012-27352]
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Federal Register / Vol. 77, No. 218 / Friday, November 9, 2012 / Rules and Regulations
FR 48130), it reviewed the rule
according to the Unfunded Mandates
Reform Act of 1995 (UMRA; 2 U.S.C.
1501 et seq.) and Executive Order 13132
(64 FR 43255 (Aug. 10, 1999)), and
concluded that the final rule did not
meet the definition of a ‘‘Federal
intergovernmental mandate’’ under the
UMRA. OSHA’s standards do not apply
to state or local governments except in
states that have voluntarily adopted
state plans. OSHA further noted that the
rule imposed costs of over $100 million
per year on the private sector and,
therefore, required review under the
UMRA for those costs; the Agency
determined that its Final Economic
Analysis met that requirement. Id.
As discussed above in Section IV.B.
(Final Economic Analysis and Final
Regulatory Flexibility Act Analysis) of
this preamble, this direct final rule
reduces expenditures by private-sector
employers. For the purposes of the
UMRA, OSHA certifies that this direct
final rule does not mandate that state,
local, or tribal governments adopt new,
unfunded regulatory obligations, or
increase expenditures by the private
sector of more than $100 million in any
year.
H. Consultation and Coordination With
Indian Tribal Governments
OSHA reviewed this direct final rule
in accordance with Executive Order
13175 (65 FR 67249 (Nov. 9, 2000)), and
determined that it does not have ‘‘tribal
implications’’ as defined in that order.
This direct final rule does not have
substantial direct effects on one or more
Indian tribes, on the relationship
between the federal government and
Indian tribes, or on the distribution of
power and responsibilities between the
federal government and Indian tribes.
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PART 1926—[AMENDED]
31 CFR Part 552
Subpart V—Power Transmission and
Distribution.
Yemen Sanctions Regulations
1. Revise the authority citation for
subpart V to read as follows:
■
Authority: 40 U.S.C. 3701; 29 U.S.C. 653,
655, 657; Secretary of Labor’s Order Nos. 12–
71 (36 FR 8754); 8–76 (41 FR 25059); 9–83
(48 FR 35736), 1–90 (55 FR 9033), 5–2007 (72
FR 31159), or 1–2012 (77 FR 3912), as
applicable. Section 1926.951 also is issued
under 29 CFR part 1911.
2. Amend § 1926.952 by revising
paragraph (c)(2) to read as follows:
■
§ 1926.952
Mechanical equipment.
*
*
*
*
*
(c). * * *
(2) Use of digger derricks must
comply with § 1910.269 (in addition to
29 CFR 1926, subpart O) whenever such
use is excluded from 29 CFR 1926,
subpart CC, in accordance with
§ 1926.1400(c)(4).
*
*
*
*
*
Subpart CC—Cranes and Derricks in
Construction.
3. Revise the authority citation for
subpart CC to read as follows:
■
Authority: 40 U.S.C. 3701; 29 U.S.C. 653,
655, 657; and Secretary of Labor’s Order No.
5–2007 (72 FR 31159) or 1–2012 (77 FR
3912), as applicable; and 29 CFR part 1911.
Scope.
*
David Michaels, Ph.D., MPH,
Assistant Secretary of Labor for
Occupational Safety and Health, U.S.
Department of Labor, 200 Constitution
Ave. NW., Washington, DC 20210,
authorized the preparation of this
notice. OSHA is issuing this direct final
rule under the following authorities: 29
U.S.C. 653, 655, 657; 40 U.S.C. 3701 et
seq.; 5 U.S.C. 553; Secretary of Labor’s
Order No. 1–2012 (77 FR 3912, Jan. 25,
2012); and 29 CFR part 1911.
BILLING CODE 4510–26–P
DEPARTMENT OF THE TREASURY
§ 1926.1400
Authority and Signature
[FR Doc. 2012–27210 Filed 11–8–12; 8:45 am]
For the reasons stated in the preamble
of this direct final rule, OSHA is
amending 29 CFR part 1926 as follows:
4. Amend § 1926.1400 by revising
paragraph (c)(4) to read as follows:
Cranes and derricks, Construction
industry, Occupational safety and
health.
at § 1910.268(s)(40)) must comply with
all of the provisions of § 1910.268.
*
*
*
*
*
Amendments to Standards
■
List of Subjects in 29 CFR Part 1926
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Signed at Washington, DC, on October 9,
2012.
David Michaels,
Assistant Secretary of Labor for Occupational
Safety and Health.
*
*
*
*
(c) * * *
(4) Digger derricks when used for
augering holes for poles carrying electric
or telecommunication lines, placing and
removing the poles, and for handling
associated materials for installation on,
or removal from, the poles, or when
used for any other work subject to
subpart V of this part. To be eligible for
this exclusion, digger-derrick use in
work subject to subpart V of this part
must comply with all of the provisions
of that subpart, and digger-derrick use
in construction work for
telecommunication service (as defined
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Office of Foreign Assets Control
Office of Foreign Assets
Control, Treasury.
ACTION: Final rule.
AGENCY:
The Department of the
Treasury’s Office of Foreign Assets
Control (‘‘OFAC’’) is issuing regulations
to implement Executive Order 13611 of
May 16, 2012 (‘‘Blocking Property of
Persons Threatening the Peace, Security,
or Stability of Yemen’’). OFAC intends
to supplement this part 552 with a more
comprehensive set of regulations, which
may include additional interpretive and
definitional guidance and additional
general licenses and statements of
licensing policy.
DATES: Effective Date: November 9,
2012.
FOR FURTHER INFORMATION CONTACT:
Assistant Director for Sanctions
Compliance & Evaluation, tel.: 202/622–
2490, Assistant Director for Licensing,
tel.: 202/622–2480, Assistant Director
for Policy, tel.: 202/622–4855, 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:
SUMMARY:
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-ondemand service, tel.: 202/622–0077.
Background
On May 16, 2012, the President issued
Executive Order 13611 (77 FR 29533,
May 18, 2012) (‘‘E.O. 13611’’), invoking
the authority of, inter alia, the
International Emergency Economic
Powers Act (50 U.S.C. 1701 et seq.) and
the National Emergencies Act (50 U.S.C.
1601 et seq.).
The Department of the Treasury’s
Office of Foreign Assets Control
(‘‘OFAC’’) is issuing the Yemen
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Sanctions Regulations, 31 CFR part 552
(the ‘‘Regulations’’), to implement E.O.
13611, pursuant to authorities delegated
to the Secretary of the Treasury in E.O.
13611. A copy of E.O. 13611 appears in
Appendix A to this part.
The Regulations are being published
in abbreviated form at this time for the
purpose of providing immediate
guidance to the public. OFAC intends to
supplement this part 552 with a more
comprehensive set of regulations, which
may include additional interpretive and
definitional guidance and additional
general licenses and statements of
licensing policy. The appendix to the
Regulations will be removed when
OFAC supplements this part with a
more comprehensive set of regulations.
Subpart B—Prohibitions
552.201 Prohibited transactions.
552.202 Effect of transfers violating the
provisions of this part.
552.203 Holding of funds in interestbearing accounts; investment and
reinvestment.
Public Participation
Because the Regulations involve a
foreign affairs function, the provisions
of Executive Order 12866 of September
30, 1993, 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.
Subpart D—Interpretations
§ 552.401 [Reserved]
552.402 Effect of amendment.
552.403 Termination and acquisition of an
interest in blocked property.
552.404 Transactions ordinarily incident to
a licensed transaction.
552.405 Setoffs prohibited.
552.406 Entities owned by a person whose
property and interests in property are
blocked.
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.
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List of Subjects in 31 CFR Part 552
Administrative practice and
procedure, Banking, Banks, Blocking of
assets, Brokers, Credit, Foreign Trade,
Investments, Loans, Securities, Services,
Yemen.
For the reasons set forth in the
preamble, the Department of the
Treasury’s Office of Foreign Assets
Control adds part 552 to 31 CFR chapter
V to read as follows:
PART 552—YEMEN SANCTIONS
REGULATIONS
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Subpart E—Licenses, Authorizations, and
Statements of Licensing Policy
552.501 General and specific licensing
procedures.
552.502 [Reserved]
552.503 Exclusion from licenses.
552.504 Payments and transfers to blocked
accounts in U.S. financial institutions.
552.505 Entries in certain accounts for
normal service charges authorized.
552.506 Provision of certain legal services
authorized.
552.507 Authorization of emergency
medical services.
Subpart F—[Reserved]
Subpart G—[Reserved]
Subpart H—Procedures
552.801 [Reserved]
552.802 Delegation by the Secretary of the
Treasury.
Subpart I—Paperwork Reduction Act
552.901 Paperwork Reduction Act notice.
APPENDIX A TO PART 552—Executive
Order 13611 of May 16, 2012
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);
Pub. L. 110–96, 121 Stat. 1011 (50 U.S.C.
1705 note); E.O. 13611, 77 FR 29533, May 18,
2012.
Subpart A—Relation of This Part to
Other Laws and Regulations
Subpart A—Relation of This Part to Other
Laws and Regulations
Sec.
552.101 Relation of this part to other laws
and regulations.
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Subpart C—General Definitions
552.301 Blocked account; blocked
property.
552.302 Effective date.
552.303 Entity.
552.304 Interest.
552.305 Licenses; general and specific.
552.306 Person.
552.307 Property; property interest.
552.308 Transfer.
552.309 United States.
552.310 U.S. financial institution.
552.311 United States person; U.S. person.
§ 552.101 Relation of this part to other
laws and regulations.
This part is separate from, and
independent of, the other parts of this
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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.
Note to § 552.101: This part has been
published in abbreviated form for the
purpose of providing immediate guidance to
the public. OFAC intends to supplement this
part with a more comprehensive set of
regulations, which may include additional
interpretive and definitional guidance and
additional general licenses and statements of
licensing policy.
Subpart B—Prohibitions
§ 552.201
Prohibited transactions.
All transactions prohibited pursuant
to Executive Order 13611 of May 16,
2012, are also prohibited pursuant to
this part.
Note 1 to § 552.201: The names of persons
designated pursuant to Executive Order
13611, whose property and interests in
property therefore are blocked pursuant to
this section, are published in the Federal
Register and incorporated into the Office of
Foreign Assets Control’s Specially
Designated Nationals and Blocked Persons
List (‘‘SDN List’’) with the identifier
‘‘[YEMEN].’’ The SDN List is accessible
through the following page on the Office of
Foreign Assets Control’s Web site:
www.treasury.gov/sdn. Additional
information pertaining to the SDN List can be
found in Appendix A to this chapter. See
§ 552.406 concerning entities that may not be
listed on the SDN List but whose property
and interests in property are nevertheless
blocked pursuant to this section.
Note 2 to § 552.201: 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 this section also are published in
the Federal Register and incorporated into
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the SDN List with the identifier ‘‘[BPI–
YEMEN].’’
Note 3 to § 552.201: 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 this section.
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§ 552.202 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 § 552.201,
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 interests.
(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
in property blocked pursuant to
§ 552.201, 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, an
appropriate license or other
authorization issued by the Office of
Foreign Assets Control 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 the
International Emergency Economic
Powers Act, Executive Order 13611, 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 the Office
of Foreign Assets Control 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
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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 the Office of Foreign Assets
Control 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 the Office of Foreign
Assets Control; 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 paragraph (d) of § 552.202: 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 (d)(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 in which, on or
since the effective date, there existed an
interest of a person whose property and
interests in property are blocked
pursuant to § 552.201.
§ 552.203 Holding of funds in interestbearing accounts; investment and
reinvestment.
(a) Except as provided in paragraphs
(e) or (f) of this section, or as otherwise
directed by the Office of Foreign Assets
Control, any U.S. person holding funds,
such as currency, bank deposits, or
liquidated financial obligations, subject
to § 552.201 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
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(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
§ 552.201 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 paragraphs (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
§ 552.201 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, the Office of Foreign
Assets Control 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 § 552.201, nor may their
holder cooperate in or facilitate the
pledging or other attempted use as
collateral of blocked funds or other
assets.
Subpart C—General Definitions
§ 552.301
property.
Blocked account; blocked
The terms blocked account and
blocked property shall mean any
account or property subject to the
prohibitions in § 552.201 held in the
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The term effective date refers to the
effective date of the applicable
prohibitions and directives contained in
this part, and, with respect to a person
whose property and interests in
property are blocked pursuant to
§ 552.201, is the earlier of the date of
actual or constructive notice that such
person’s property and interests in
property are blocked.
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.
§ 552.303
§ 552.308
name of a person whose property and
interests in property are blocked
pursuant to § 552.201, 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 an authorization or
license from the Office of Foreign Assets
Control expressly authorizing such
action.
Note to § 552.301: See § 552.406
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 § 552.201.
§ 552.302
Effective date.
Entity.
The term entity means a partnership,
association, trust, joint venture,
corporation, group, subgroup, or other
organization.
§ 552.304
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.
§ 552.305
Licenses; general and specific.
(a) Except as otherwise specified, 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.
(c) The term specific license means
any license or authorization not set forth
in subpart E of this part but issued
pursuant to this part.
Note to § 552.305: See § 501.801 of this
chapter on licensing procedures.
§ 552.306
Person.
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The term person means an individual
or entity.
§ 552.307
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,
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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
any agent, trustee, or fiduciary; the
creation or transfer of any lien; the
issuance, docketing, or filing of, 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.
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§ 552.309
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United States.
The term United States means the
United States, its territories and
possessions, and all areas under the
jurisdiction or authority thereof.
§ 552.310
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 loans or credits, or purchasing
or selling foreign exchange, securities,
or 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.
§ 552.311
person.
United States person; U.S.
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.
Subpart D—Interpretations
§ 552.401
[Reserved]
§ 552.402
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
the Office of Foreign Assets Control
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.
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§ 552.403 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, such property shall no
longer be deemed to be property
blocked pursuant to § 552.201, unless
there exists in the property another
interest that is blocked pursuant to
§ 552.201, 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 § 552.201, such property
shall be deemed to be property in which
that person has an interest and therefore
blocked.
Subpart E—Licenses, Authorizations,
and Statements of Licensing Policy
§ 552.501 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 Yemen sanctions
page on OFAC’s Web site:
www.treasury.gov/ofac.
§ 552.502
[Reserved]
§ 552.503
Exclusion from licenses.
§ 552.404 Transactions ordinarily incident
to a licensed transaction.
Any transaction ordinarily incident to
a licensed transaction and necessary to
give effect thereto is also authorized,
except:
(a) 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
§ 552.201; or
(b) 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.
The Office of Foreign Assets Control
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. The Office of Foreign Assets
Control 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.
§ 552.504 Payments and transfers to
blocked accounts in U.S. financial
institutions.
§ 552.405
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 § 552.201 if
effected after the effective date.
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§ 552.406 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 § 552.201 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
§ 552.201, regardless of whether the
entity itself is designated pursuant to
Executive Order 13611.
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Any payment of funds or transfer of
credit in which a person whose property
and interests in property are blocked
pursuant to § 552.201 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 § 552.504: See § 501.603 of this
chapter for mandatory reporting
requirements regarding financial transfers.
See also § 552.203 concerning the obligation
to hold blocked funds in interest-bearing
accounts.
§ 552.505 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
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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.
§ 552.506 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
§ 552.201 is authorized, provided that
all receipts of payment of professional
fees and reimbursement of incurred
expenses must be specifically licensed:
(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 domestic U.S. legal,
arbitration, or administrative
proceedings;
(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 § 552.201, 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 § 552.201
is prohibited unless licensed pursuant
to this part.
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Federal Register / Vol. 77, No. 218 / Friday, November 9, 2012 / Rules and Regulations
§ 552.507 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 § 552.201 is authorized,
provided that all receipt of payment for
such services must be specifically
licensed.
Subpart F—[Reserved]
Subpart G—[Reserved]
Subpart H—Procedures
§ 552.801
[Reserved]
§ 552.802 Delegation by the Secretary of
the Treasury.
Any action that the Secretary of the
Treasury is authorized to take pursuant
to Executive Order 13611 of May 16,
2012 (77 FR 29533, May 18, 2012), and
any further Executive orders relating to
the national emergency declared
therein, may be taken by the Director of
the Office of Foreign Assets Control or
by any other person to whom the
Secretary of the Treasury has delegated
authority so to act.
Subpart I—Paperwork Reduction Act
§ 552.901
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 § 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.
Appendix A to Part 552—Executive
Order 13611
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Executive Order 13611 of May 16, 2012
Blocking Property of Persons Threatening the
Peace, Security, or Stability of Yemen
By the authority vested in me as President
by the Constitution and the laws of the
United States of America, including the
International Emergency Economic Powers
Act (50 U.S.C. 1701 et seq.) (IEEPA), the
National Emergencies Act (50 U.S.C. 1601 et
seq.) (NEA), and section 301 of title 3, United
States Code, I, BARACK OBAMA, President
of the United States of America, find that the
actions and policies of certain members of
the Government of Yemen and others
threaten Yemen’s peace, security, and
stability, including by obstructing the
implementation of the agreement of
November 23, 2011, between the Government
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of Yemen and those in opposition to it,
which provides for a peaceful transition of
power that meets the legitimate demands and
aspirations of the Yemeni people for change,
and by obstructing the political process in
Yemen. I further find that these actions
constitute an unusual and extraordinary
threat to the national security and foreign
policy of the United States, and I hereby
declare a national emergency to deal with
that threat. I hereby order:
Section 1. All property and interests in
property that are in the United States, that
hereafter come within the United States, or
that are or hereafter 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 the Secretary of State, to:
(a) have engaged in acts that directly or
indirectly threaten the peace, security, or
stability of Yemen, such as acts that obstruct
the implementation of the agreement of
November 23, 2011, between the Government
of Yemen and those in opposition to it,
which provides for a peaceful transition of
power in Yemen, or that obstruct the political
process in Yemen;
(b) be a political or military leader of an
entity that has engaged in the acts described
in subsection (a) of this section;
(c) 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 subsection
(a) of this section or any person whose
property and interests in property are
blocked pursuant to this order; or
(d) 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 order.
Sec. 2. I hereby determine that the making
of donations of the type of articles specified
in section 203(b)(2) of IEEPA (50 U.S.C.
1702(b)(2)) by, to, or for the benefit of any
person whose property and interests in
property are blocked pursuant to section 1 of
this order would seriously impair my ability
to deal with the national emergency declared
in this order, and I hereby prohibit such
donations as provided by section 1 of this
order.
Sec. 3. The prohibitions in section 1 of this
order include but are not limited to:
(a) 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 this order; and
(b) the receipt of any contribution or
provision of funds, goods, or services from
any such person.
Sec. 4. The prohibitions in section 1 of this
order apply except to the extent provided by
statutes, or in regulations, orders, directives,
or licenses that may be issued pursuant to
this order, and notwithstanding any contract
entered into or any license or permit granted
prior to the effective date of this order.
Sec. 5. Nothing in section 1 of this order
shall prohibit transactions for the conduct of
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67281
the official business of the United States
Government by employees, grantees, or
contractors thereof.
Sec. 6. (a) Any transaction 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 order is prohibited.
(b) Any conspiracy formed to violate any
of the prohibitions set forth in this order is
prohibited.
Sec. 7. For the purposes of this order:
(a) the term ‘‘person’’ means an individual
or entity;
(b) the term ‘‘entity’’ means a partnership,
association, trust, joint venture, corporation,
group, subgroup, or other organization; and
(c) 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.
Sec. 8. For those persons whose property
and interests in property are blocked
pursuant to this order who might have a
constitutional presence in the United States,
I find that because of the ability to transfer
funds or other assets instantaneously, prior
notice to such persons of measures to be
taken pursuant to this order would render
those measures ineffectual. I therefore
determine that for these measures to be
effective in addressing the national
emergency declared in this order, there need
be no prior notice of a listing or
determination made pursuant to section 1 of
this order.
Sec. 9. The Secretary of the Treasury, in
consultation with the Secretary of State, is
hereby authorized to take such actions,
including the promulgation of rules and
regulations, and to employ all powers
granted to the President by IEEPA as may be
necessary to carry out the purposes of this
order. The Secretary of the Treasury may
redelegate any of these functions to other
officers and agencies of the United States
Government consistent with applicable law.
All agencies of the United States Government
are hereby directed to take all appropriate
measures within their authority to carry out
the provisions of this order.
Sec. 10. The Secretary of the Treasury, in
consultation with the Secretary of State, is
hereby authorized to submit the recurring
and final reports to the Congress on the
national emergency declared in this order,
consistent with section 401(c) of the NEA (50
U.S.C. 1641(c)) and section 204(c) of IEEPA
(50 U.S.C. 1703(c)).
Sec. 11. This order is not intended to, and
does not, create any right or benefit,
substantive or procedural, enforceable at law
or in equity by any party against the United
States, its departments, agencies, or entities,
its officers, employees, or agents, or any other
person.
Barack Obama
THE WHITE HOUSE,
May 16, 2012.
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Federal Register / Vol. 77, No. 218 / Friday, November 9, 2012 / Rules and Regulations
Dated: November 2, 2012.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
Approved: November 2, 2012.
David S. Cohen,
Under Secretary, Office of Terrorism and
Financial Intelligence, Department of the
Treasury.
Docket is (703) 305–5805. Please review
the visitor instructions and additional
information about the docket available
at https://www.epa.gov/dockets.
FOR FURTHER INFORMATION CONTACT:
Andrea Conrath, Registration Division
(7505P), Office of Pesticide Programs,
Environmental Protection Agency, 1200
Pennsylvania Ave. NW., Washington,
DC 20460–0001; telephone number:
(703) 308–9356; email address:
conrath.andrea@epa.gov.
[FR Doc. 2012–27352 Filed 11–8–12; 8:45 am]
BILLING CODE 4810–AL–P
ENVIRONMENTAL PROTECTION
AGENCY
SUPPLEMENTARY INFORMATION:
I. General Information
40 CFR Part 180
A. Does this action apply to me?
[EPA–HQ–OPP–2012–0755; FRL–9366–3]
You may be potentially affected by
this action if you are an agricultural
producer, food manufacturer, or
pesticide manufacturer. The following
list of North American Industrial
Classification System (NAICS) codes is
not intended to be exhaustive, but rather
provides a guide to help readers
determine whether this document
applies to them. Potentially affected
entities may include:
• Crop production (NAICS code 111).
• Animal production (NAICS code
112).
• Food manufacturing (NAICS code
311).
• Pesticide manufacturing (NAICS
code 32532).
Dinotefuran; Pesticide Tolerances for
Emergency Exemptions
Environmental Protection
Agency (EPA).
ACTION: Final rule.
AGENCY:
This regulation establishes
time-limited tolerances for residues of
dinotefuran in or on pome fruits and
stone fruits. This action is in response
to EPA’s granting of emergency
exemptions under the Federal
Insecticide, Fungicide, and Rodenticide
Act (FIFRA) authorizing use of the
pesticide on pome fruits and stone
fruits. This regulation establishes a
maximum permissible level for residues
of dinotefuran in or on these
commodities. The time-limited
tolerances expire on December 31, 2015.
This regulation also makes the
systematic chemical name for
dinotefuran consistent within the
section and with EPA’s policy on
chemical nomenclature.
DATES: This regulation is effective
November 9, 2012. Objections and
requests for hearings must be received
on or before January 8, 2013, and must
be filed in accordance with the
instructions provided in 40 CFR part
178 (see also Unit I.C. of the
SUPPLEMENTARY INFORMATION).
ADDRESSES: The docket for this action,
identified by docket identification (ID)
number EPA–HQ–OPP–2012–0755, is
available at https://www.regulations.gov
or at the Office of Pesticide Programs
Regulatory Public Docket (OPP Docket)
in the Environmental Protection Agency
Docket Center (EPA/DC), EPA West
Bldg., Rm. 3334, 1301 Constitution Ave.
NW., Washington, DC 20460–0001. The
Public Reading Room is open from 8:30
a.m. to 4:30 p.m., Monday through
Friday, excluding legal holidays. The
telephone number for the Public
Reading Room is (202) 566–1744, and
the telephone number for the OPP
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SUMMARY:
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B. How can I get electronic access to
other related information?
You may access a frequently updated
electronic version of 40 CFR part 180
through the Government Printing
Office’s e-CFR site at https://
ecfr.gpoaccess.gov/cgi/t/text/textidx?&c=ecfr&tpl=/ecfrbrowse/Title40/
40tab_02.tpl.
C. How can I file an objection or hearing
request?
Under section 408(g) of the Federal
Food, Drug, and Cosmetic Act (FFDCA),
21 U.S.C. 346a, any person may file an
objection to any aspect of this regulation
and may also request a hearing on those
objections. You must file your objection
or request a hearing on this regulation
in accordance with the instructions
provided in 40 CFR part 178. To ensure
proper receipt by EPA, you must
identify docket ID number EPA–HQ–
OPP–2012–0755 in the subject line on
the first page of your submission. All
objections and requests for a hearing
must be in writing, and must be
received by the Hearing Clerk on or
before January 8, 2013. Addresses for
mail and hand delivery of objections
and hearing requests are provided in 40
CFR 178.25(b).
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In addition to filing an objection or
hearing request with the Hearing Clerk
as described in 40 CFR part 178, please
submit a copy of the filing (excluding
any Confidential Business Information
(CBI)) for inclusion in the public docket.
Information not marked confidential
pursuant to 40 CFR part 2 may be
disclosed publicly by EPA without prior
notice. Submit the non-CBI copy of your
objection or hearing request, identified
by docket ID number EPA–HQ–OPP–
2012–0755, by one of the following
methods:
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the online
instructions for submitting comments.
Do not submit electronically any
information you consider to be CBI or
other information whose disclosure is
restricted by statute.
• Mail: OPP Docket, Environmental
Protection Agency Docket Center (EPA/
DC), (28221T), 1200 Pennsylvania Ave.
NW., Washington, DC 20460–0001.
• Hand Delivery: To make special
arrangements for hand delivery or
delivery of boxed information, please
follow the instructions at https://www.
epa.gov/dockets/contacts.htm.
Additional instructions on
commenting or visiting the docket,
along with more information about
dockets generally, is available at
https://www.epa.gov/dockets.
II. Background and Statutory Findings
EPA, on its own initiative, in
accordance with FFDCA sections 408(e)
and 408(l)(6), 21 U.S.C. 346a(e) and
346a(1)(6), is establishing time-limited
tolerances for combined residues of
dinotefuran, (RS)-1-methyl-2-nitro-3((tetrahydro-3furanyl)methyl)guanidine, including its
metabolites and degradates, in or on
pome fruits and stone fruits at 1.0 part
per million (ppm). These time-limited
tolerances expire on December 31, 2015.
Section 408(l)(6) of FFDCA requires
EPA to establish a time-limited
tolerance or exemption from the
requirement for a tolerance for pesticide
chemical residues in food that will
result from the use of a pesticide under
an emergency exemption granted by
EPA under FIFRA section 18. Such
tolerances can be established without
providing notice or period for public
comment. EPA does not intend for its
actions on FIFRA section 18 related
time-limited tolerances to set binding
precedents for the application of FFDCA
section 408 and the safety standard to
other tolerances and exemptions.
Section 408(e) of FFDCA allows EPA to
establish a tolerance or an exemption
from the requirement of a tolerance on
its own initiative, i.e., without having
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]]>Agencies
[Federal Register Volume 77, Number 218 (Friday, November 9, 2012)]
[Rules and Regulations]
[Pages 67276-67282]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-27352]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 552
Yemen Sanctions Regulations
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (``OFAC'') is issuing regulations to implement Executive Order
13611 of May 16, 2012 (``Blocking Property of Persons Threatening the
Peace, Security, or Stability of Yemen''). OFAC intends to supplement
this part 552 with a more comprehensive set of regulations, which may
include additional interpretive and definitional guidance and
additional general licenses and statements of licensing policy.
DATES: Effective Date: November 9, 2012.
FOR FURTHER INFORMATION CONTACT: Assistant Director for Sanctions
Compliance & Evaluation, tel.: 202/622-2490, Assistant Director for
Licensing, tel.: 202/622-2480, Assistant Director for Policy, tel.:
202/622-4855, 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 16, 2012, the President issued Executive Order 13611 (77 FR
29533, May 18, 2012) (``E.O. 13611''), invoking the authority of, inter
alia, the International Emergency Economic Powers Act (50 U.S.C. 1701
et seq.) and the National Emergencies Act (50 U.S.C. 1601 et seq.).
The Department of the Treasury's Office of Foreign Assets Control
(``OFAC'') is issuing the Yemen
[[Page 67277]]
Sanctions Regulations, 31 CFR part 552 (the ``Regulations''), to
implement E.O. 13611, pursuant to authorities delegated to the
Secretary of the Treasury in E.O. 13611. A copy of E.O. 13611 appears
in Appendix A to this part.
The Regulations are being published in abbreviated form at this
time for the purpose of providing immediate guidance to the public.
OFAC intends to supplement this part 552 with a more comprehensive set
of regulations, which may include additional interpretive and
definitional guidance and additional general licenses and statements of
licensing policy. The appendix to the Regulations will be removed when
OFAC supplements this part with a more comprehensive set of
regulations.
Public Participation
Because the Regulations involve a foreign affairs function, the
provisions of Executive Order 12866 of September 30, 1993, 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 552
Administrative practice and procedure, Banking, Banks, Blocking of
assets, Brokers, Credit, Foreign Trade, Investments, Loans, Securities,
Services, Yemen.
For the reasons set forth in the preamble, the Department of the
Treasury's Office of Foreign Assets Control adds part 552 to 31 CFR
chapter V to read as follows:
PART 552--YEMEN SANCTIONS REGULATIONS
Subpart A--Relation of This Part to Other Laws and Regulations
Sec.
552.101 Relation of this part to other laws and regulations.
Subpart B--Prohibitions
552.201 Prohibited transactions.
552.202 Effect of transfers violating the provisions of this part.
552.203 Holding of funds in interest-bearing accounts; investment
and reinvestment.
Subpart C--General Definitions
552.301 Blocked account; blocked property.
552.302 Effective date.
552.303 Entity.
552.304 Interest.
552.305 Licenses; general and specific.
552.306 Person.
552.307 Property; property interest.
552.308 Transfer.
552.309 United States.
552.310 U.S. financial institution.
552.311 United States person; U.S. person.
Subpart D--Interpretations
Sec. 552.401 [Reserved]
552.402 Effect of amendment.
552.403 Termination and acquisition of an interest in blocked
property.
552.404 Transactions ordinarily incident to a licensed transaction.
552.405 Setoffs prohibited.
552.406 Entities owned by a person whose property and interests in
property are blocked.
Subpart E--Licenses, Authorizations, and Statements of Licensing Policy
552.501 General and specific licensing procedures.
552.502 [Reserved]
552.503 Exclusion from licenses.
552.504 Payments and transfers to blocked accounts in U.S. financial
institutions.
552.505 Entries in certain accounts for normal service charges
authorized.
552.506 Provision of certain legal services authorized.
552.507 Authorization of emergency medical services.
Subpart F--[Reserved]
Subpart G--[Reserved]
Subpart H--Procedures
552.801 [Reserved]
552.802 Delegation by the Secretary of the Treasury.
Subpart I--Paperwork Reduction Act
552.901 Paperwork Reduction Act notice.
APPENDIX A TO PART 552--Executive Order 13611 of May 16, 2012
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);
Pub. L. 110-96, 121 Stat. 1011 (50 U.S.C. 1705 note); E.O. 13611, 77
FR 29533, May 18, 2012.
Subpart A--Relation of This Part to Other Laws and Regulations
Sec. 552.101 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.
Note to Sec. 552.101: This part has been published in
abbreviated form for the purpose of providing immediate guidance to
the public. OFAC intends to supplement this part with a more
comprehensive set of regulations, which may include additional
interpretive and definitional guidance and additional general
licenses and statements of licensing policy.
Subpart B--Prohibitions
Sec. 552.201 Prohibited transactions.
All transactions prohibited pursuant to Executive Order 13611 of
May 16, 2012, are also prohibited pursuant to this part.
Note 1 to Sec. 552.201: The names of persons designated
pursuant to Executive Order 13611, whose property and interests in
property therefore are blocked pursuant to this section, are
published in the Federal Register and incorporated into the Office
of Foreign Assets Control's Specially Designated Nationals and
Blocked Persons List (``SDN List'') with the identifier ``[YEMEN].''
The SDN List is accessible through the following page on the Office
of Foreign Assets Control'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. 552.406 concerning entities
that may not be listed on the SDN List but whose property and
interests in property are nevertheless blocked pursuant to this
section.
Note 2 to Sec. 552.201: 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 this section also are published in the
Federal Register and incorporated into
[[Page 67278]]
the SDN List with the identifier ``[BPI-YEMEN].''
Note 3 to Sec. 552.201: 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 this section.
Sec. 552.202 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.
552.201, 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 interests.
(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 in
property blocked pursuant to Sec. 552.201, 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, an appropriate license or other
authorization issued by the Office of Foreign Assets Control 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 the International Emergency Economic Powers
Act, Executive Order 13611, 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 the Office of Foreign Assets Control 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 the Office of Foreign Assets Control 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 the Office of
Foreign Assets Control; 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 paragraph (d) of Sec. 552.202: 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 (d)(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 in which, on or
since the effective date, there existed an interest of a person whose
property and interests in property are blocked pursuant to Sec.
552.201.
Sec. 552.203 Holding of funds in interest-bearing accounts;
investment and reinvestment.
(a) Except as provided in paragraphs (e) or (f) of this section, or
as otherwise directed by the Office of Foreign Assets Control, any U.S.
person holding funds, such as currency, bank deposits, or liquidated
financial obligations, subject to Sec. 552.201 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. 552.201 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 paragraphs
(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. 552.201 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, the Office of Foreign Assets
Control 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. 552.201, nor may their holder
cooperate in or facilitate the pledging or other attempted use as
collateral of blocked funds or other assets.
Subpart C--General Definitions
Sec. 552.301 Blocked account; blocked property.
The terms blocked account and blocked property shall mean any
account or property subject to the prohibitions in Sec. 552.201 held
in the
[[Page 67279]]
name of a person whose property and interests in property are blocked
pursuant to Sec. 552.201, 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 an
authorization or license from the Office of Foreign Assets Control
expressly authorizing such action.
Note to Sec. 552.301: See Sec. 552.406 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. 552.201.
Sec. 552.302 Effective date.
The term effective date refers to the effective date of the
applicable prohibitions and directives contained in this part, and,
with respect to a person whose property and interests in property are
blocked pursuant to Sec. 552.201, is the earlier of the date of actual
or constructive notice that such person's property and interests in
property are blocked.
Sec. 552.303 Entity.
The term entity means a partnership, association, trust, joint
venture, corporation, group, subgroup, or other organization.
Sec. 552.304 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. 552.305 Licenses; general and specific.
(a) Except as otherwise specified, 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.
(c) The term specific license means any license or authorization
not set forth in subpart E of this part but issued pursuant to this
part.
Note to Sec. 552.305: See Sec. 501.801 of this chapter on
licensing procedures.
Sec. 552.306 Person.
The term person means an individual or entity.
Sec. 552.307 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. 552.308 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 any agent, trustee, or fiduciary; the
creation or transfer of any lien; the issuance, docketing, or filing
of, 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. 552.309 United States.
The term United States means the United States, its territories and
possessions, and all areas under the jurisdiction or authority thereof.
Sec. 552.310 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 loans or credits, or purchasing or selling foreign exchange,
securities, or 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. 552.311 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.
Subpart D--Interpretations
Sec. 552.401 [Reserved]
Sec. 552.402 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 the Office of Foreign Assets Control 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.
[[Page 67280]]
Sec. 552.403 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, such property shall no longer be deemed
to be property blocked pursuant to Sec. 552.201, unless there exists
in the property another interest that is blocked pursuant to Sec.
552.201, 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. 552.201, such property shall be deemed to be property in which
that person has an interest and therefore blocked.
Sec. 552.404 Transactions ordinarily incident to a licensed
transaction.
Any transaction ordinarily incident to a licensed transaction and
necessary to give effect thereto is also authorized, except:
(a) 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. 552.201; or
(b) 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.
Sec. 552.405 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. 552.201 if effected after the effective date.
Sec. 552.406 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. 552.201 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.
552.201, regardless of whether the entity itself is designated pursuant
to Executive Order 13611.
Subpart E--Licenses, Authorizations, and Statements of Licensing
Policy
Sec. 552.501 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 Yemen sanctions page on OFAC's Web site:
www.treasury.gov/ofac.
Sec. 552.502 [Reserved]
Sec. 552.503 Exclusion from licenses.
The Office of Foreign Assets Control 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. The
Office of Foreign Assets Control 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. 552.504 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.
552.201 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. 552.504: See Sec. 501.603 of this chapter for
mandatory reporting requirements regarding financial transfers. See
also Sec. 552.203 concerning the obligation to hold blocked funds
in interest-bearing accounts.
Sec. 552.505 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. 552.506 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. 552.201 is authorized, provided that all receipts of
payment of professional fees and reimbursement of incurred expenses
must be specifically licensed:
(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 domestic U.S. legal, arbitration, or administrative
proceedings;
(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.
552.201, 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. 552.201 is prohibited unless licensed
pursuant to this part.
[[Page 67281]]
Sec. 552.507 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. 552.201 is authorized, provided that all
receipt of payment for such services must be specifically licensed.
Subpart F--[Reserved]
Subpart G--[Reserved]
Subpart H--Procedures
Sec. 552.801 [Reserved]
Sec. 552.802 Delegation by the Secretary of the Treasury.
Any action that the Secretary of the Treasury is authorized to take
pursuant to Executive Order 13611 of May 16, 2012 (77 FR 29533, May 18,
2012), and any further Executive orders relating to the national
emergency declared therein, may be taken by the Director of the Office
of Foreign Assets Control or by any other person to whom the Secretary
of the Treasury has delegated authority so to act.
Subpart I--Paperwork Reduction Act
Sec. 552.901 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.
Appendix A to Part 552--Executive Order 13611
Executive Order 13611 of May 16, 2012
Blocking Property of Persons Threatening the Peace, Security, or
Stability of Yemen
By the authority vested in me as President by the Constitution
and the laws of the United States of America, including the
International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.)
(IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.)
(NEA), and section 301 of title 3, United States Code, I, BARACK
OBAMA, President of the United States of America, find that the
actions and policies of certain members of the Government of Yemen
and others threaten Yemen's peace, security, and stability,
including by obstructing the implementation of the agreement of
November 23, 2011, between the Government of Yemen and those in
opposition to it, which provides for a peaceful transition of power
that meets the legitimate demands and aspirations of the Yemeni
people for change, and by obstructing the political process in
Yemen. I further find that these actions constitute an unusual and
extraordinary threat to the national security and foreign policy of
the United States, and I hereby declare a national emergency to deal
with that threat. I hereby order:
Section 1. All property and interests in property that are in
the United States, that hereafter come within the United States, or
that are or hereafter 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 the Secretary of
State, to:
(a) have engaged in acts that directly or indirectly threaten
the peace, security, or stability of Yemen, such as acts that
obstruct the implementation of the agreement of November 23, 2011,
between the Government of Yemen and those in opposition to it, which
provides for a peaceful transition of power in Yemen, or that
obstruct the political process in Yemen;
(b) be a political or military leader of an entity that has
engaged in the acts described in subsection (a) of this section;
(c) 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 subsection (a) of this section
or any person whose property and interests in property are blocked
pursuant to this order; or
(d) 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
order.
Sec. 2. I hereby determine that the making of donations of the
type of articles specified in section 203(b)(2) of IEEPA (50 U.S.C.
1702(b)(2)) by, to, or for the benefit of any person whose property
and interests in property are blocked pursuant to section 1 of this
order would seriously impair my ability to deal with the national
emergency declared in this order, and I hereby prohibit such
donations as provided by section 1 of this order.
Sec. 3. The prohibitions in section 1 of this order include but
are not limited to:
(a) 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 this order; and
(b) the receipt of any contribution or provision of funds,
goods, or services from any such person.
Sec. 4. The prohibitions in section 1 of this order apply except
to the extent provided by statutes, or in regulations, orders,
directives, or licenses that may be issued pursuant to this order,
and notwithstanding any contract entered into or any license or
permit granted prior to the effective date of this order.
Sec. 5. Nothing in section 1 of this order shall prohibit
transactions for the conduct of the official business of the United
States Government by employees, grantees, or contractors thereof.
Sec. 6. (a) Any transaction 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 order is
prohibited.
(b) Any conspiracy formed to violate any of the prohibitions set
forth in this order is prohibited.
Sec. 7. For the purposes of this order:
(a) the term ``person'' means an individual or entity;
(b) the term ``entity'' means a partnership, association, trust,
joint venture, corporation, group, subgroup, or other organization;
and
(c) 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.
Sec. 8. For those persons whose property and interests in
property are blocked pursuant to this order who might have a
constitutional presence in the United States, I find that because of
the ability to transfer funds or other assets instantaneously, prior
notice to such persons of measures to be taken pursuant to this
order would render those measures ineffectual. I therefore determine
that for these measures to be effective in addressing the national
emergency declared in this order, there need be no prior notice of a
listing or determination made pursuant to section 1 of this order.
Sec. 9. The Secretary of the Treasury, in consultation with the
Secretary of State, is hereby authorized to take such actions,
including the promulgation of rules and regulations, and to employ
all powers granted to the President by IEEPA as may be necessary to
carry out the purposes of this order. The Secretary of the Treasury
may redelegate any of these functions to other officers and agencies
of the United States Government consistent with applicable law. All
agencies of the United States Government are hereby directed to take
all appropriate measures within their authority to carry out the
provisions of this order.
Sec. 10. The Secretary of the Treasury, in consultation with the
Secretary of State, is hereby authorized to submit the recurring and
final reports to the Congress on the national emergency declared in
this order, consistent with section 401(c) of the NEA (50 U.S.C.
1641(c)) and section 204(c) of IEEPA (50 U.S.C. 1703(c)).
Sec. 11. This order is not intended to, and does not, create any
right or benefit, substantive or procedural, enforceable at law or
in equity by any party against the United States, its departments,
agencies, or entities, its officers, employees, or agents, or any
other person.
Barack Obama
THE WHITE HOUSE,
May 16, 2012.
[[Page 67282]]
Dated: November 2, 2012.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
Approved: November 2, 2012.
David S. Cohen,
Under Secretary, Office of Terrorism and Financial Intelligence,
Department of the Treasury.
[FR Doc. 2012-27352 Filed 11-8-12; 8:45 am]
BILLING CODE 4810-AL-P
