[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: 31CFR538.403]



[Page 207]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 538_SUDANESE SANCTIONS REGULATIONS--Table of Contents

 

                        Subpart D_Interpretations

 

Sec.  538.403  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 the Government of Sudan, such property shall no 

longer be deemed to be property in which the Government of Sudan has or 

has had an interest unless there exists in the property another interest 

of the Government of Sudan, 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 the 

Government of Sudan, such property shall be deemed to be property in 

which there exists an interest of the Government of Sudan.