[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR537.205]



[Page 179-180]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

 

PART 537_BURMESE SANCTIONS REGULATIONS--Table of Contents

 

                         Subpart B_Prohibitions

 

Sec.  537.205  Prohibited facilitation.



    (a) Except as otherwise authorized, U.S. persons, wherever located, 

are prohibited from approving, financing, facilitating, or guaranteeing 

a transaction by a person who is a foreign person where the transaction 

would be prohibited if performed by a U.S. person or within the United 

States.

    (b) With respect to new investment in Burma, the prohibition against 

facilitation does not include the entry into,



[[Page 180]]



performance of, or financing of a contract to sell or purchase goods, 

services, or technology unless such contract includes any of the 

activities described in Sec.  537.311(a)(2), (3) or (4).



    NOTE TO Sec.  537.205: This section's prohibitions include, but are 

not limited to, the approval, financing, facilitation, or guarantee of 

transactions prohibited by either section 570 of the Foreign Operations, 

Export Financing, and Related Programs Appropriations Act, 1997 (Pub. L. 

104-208), or the Burmese Freedom and Democracy Act of 2003 (Pub. L. 108-

61). The prohibitions of these two statutes may be waived by the 

President upon the making of certain determinations and notification to 

Congress. Therefore, the Office of Foreign Assets Control will not issue 

licenses authorizing the approval, financing, facilitation, or guarantee 

of the transactions prohibited by these statutes in the absence of such 

waivers.