nycirc_1980_08802.pdf

FEDERAL RESERVE BANK OF NEW YORK

Fiscal Agent of the United States

[ Circular No. 8 8 0 2 " ! April 17, 1980 J

AMENDMENTS TO IRANIAN ASSETS CONTROL REGULATIONS

T o A l l B a n k in g I n s t i tu t io n s in th e S e c o n d F e d e r a l R e s e r v e D i s t r ic t :

Enclosed are new amendments to the Iranian Assets Control Regulations issued by the Office of Foreign Assets Control of the United States Treasury Department.

Additional Prohibitions on Dealings with Iran

The first set of amendments, effective April 7, 1980, imposes new controls on financial transactions involving Iran, Iranian governmental entities, and persons in Iran. These new controls, which are contained in new Sections 535.206, 535.422, and 535.423, concern:

(1) Prohibitions against banks making available “any new deposit facilities” or allowing substantial increases in existing non-dollar deposits.

(2) Prohibitions on extending terms of payment more favorable than customarily used in international commercial transactions.

(3) A requirement that all rights of creditors against Iran, Iranian governmental entities, or persons in Iran be exercised in a businesslike manner whenever payments on existing credits or loans are not made in a timely manner.

The above prohibitions and requirement apply to all United States banks and to their foreign branches and subsidiaries.

Also included in the first set of-amendments are prohibitions against the following types of trade, shipping, and service transactions with Iran:

(1) The sale, supply, or other transfer of any items, commodities or products (except food, medicine, or supplies intended strictly for medical purposes, and donations of clothing) directly or indirectly, regardless of origin, to or destined for Iran, an Iranian governmental entity in Iran, any other person or body in Iran, or any other person or body for the purposes of an enterprise carried on in Iran.

(2) The shipment by any United States registered, owned, or controlled vehicle, or carriage by land across the United States, of any of the above items, commodities, or products.

(3) The shipment of such items from the United States on vessels or aircraft of Iranian registry.(4) The engaging, by any person subject to the jurisdiction of the United States, in any service con

tract in support of industrial projects in Iran (except pre-effective-date contracts or those concerned with medical services).

The above trade, shipping, and service prohibitions apply to all persons subject to the jurisdiction of the United States wherever located, except nonbanking foreign subsidiaries of United States firms. These prohibitions are in addition to the sanctions previously imposed under Section 535.201.

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Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Census of Blocked Iranian Assets

The second set of amendments imposes reporting requirements with respect to blocked Iranian assets and claims by United States nationals against Iran. Reports must be filed on Form TFR-615 on or before May 15, 1980 with respect to any blocked Iranian assets held between November 14, 1979 and March 31, 1980 by any person subject to the jurisdiction of the United States. Reports must be filed on Form TFR-616 on or before May 15, 1980 with respect to claims by United States nationals against Iran or Iranian entities that arose before April 15, 1980.

A copy of Form TFR-615 and of Form TFR-616, and instructions for their use, are also enclosed for member banks. Additional copies may be obtained from our Foreign Department (Tel. No. 212-791-8933).

Inquiries regarding the amendments should be directed to Ernest T. Patrikis, Deputy General Counsel (Tel. No. 212-791-5022), Don N. Ringsmuth, Assistant General Counsel (Tel. No. 212-791-5007), or John Hopkins Heires, Adviser, Foreign Function (Tel. No. 212-791-6816).

Inquiries regarding Forms TFR-615 and TFR-616 should be directed to Mr. Loren Dohm of the Office of Foreign Assets Control, Department of the Treasury (Tel. No. 202-376-0923).

A n t h o n y M. S o lo m o n ,President.


24408 Federal Register / Vol. 45, No. 70 / Wednesday, April 9,1980 / Rules and Regulations

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 535

Iranian Assets Control Regulations; Census of Blocked Iranian Assets and Claims Against Iran and Iranian Entitles

AGENCY: Office of Foreign Assets Control.a c t i o n : Final rule.SUMMARY: The Office of Foreign Assets Control is amending the Iranian Assets Control Regulations by the addition of § § 535.615 and 535.616 providing respectively for a census of blocked Iranian assets and a census of claims against Iran and Iranian entities. The purpose of the amendment is to impose a requirement that reports be filed (1) under § 535.615 with respect to blocked Iranian assets held by any person subject to the jurisdiction of the United States between November 14 ,1 9 7 9 and March 31, I960; and (2) under § 535.616 with respect to claims by U.S. nationals against Iran and Iranian entities. The need for § 535.615 is to obtain information on blocked assets, on a onetime basis, for planning purposes and to monitor compliance with the Regulations. The need for § 535.616 is to obtain information regarding claims of U.S. nationals against Iran, on a onetime basis, for planning purposes. The effect of the amendment will be to obtain complete and accurate information on blocked Iranian assets and on claims of U.S. nationals against Iran and Iranian entities in order to further the purposes of Executive Order No. 12170 and the Regulations.EFFECTIVE DATE: A pril 9, 1980.FOR FURTHER INFORMATION CONTACT: D en n is M. O ’C onnell, C h ief C ounsel, O ffice o f Foreign A sse ts Control, D epartm ent o f the T reasury, W ash in gton , D.C. 20220, (202) 376-0236. SUPPLEMENTARY INFORMATION: S am p les o f Form s T FR -615 and TFR -616 w ith in stru ction s appear in an ap p en d ix to th is am endm ent. C op ies o f the form s w ith reporting instructions are being distr ibuted through the F ederal R eserve S y stem to a ll m em ber banks. O ther p erso n s required to report or o th erw ise in terested in ob ta in ing co p ie s o f the form s and instructions m ay do so b y app lying to the n ea rest F ederal R eserve B ank or to the O ffice o f F oreign A sse ts C ontrol, D epartm ent o f the T reasury, W ash in gton D.C. 20220.

Form s are to be com p leted in trip licate and tw o co p ie s are to be

returned in a se t to either U nit 615 or U nit 616, a s appropriate, O ffice o f Foreign A sse ts C ontrol, D epartm ent o f the T reasury, W ash ington , D.C. 20220 b y M ay 15 ,1980 . O b serv a n ce o f the filng d ea d lin e is ex trem ely im portant. R eporting under th ese sec tio n s is m andatory, and no e x te n s io n s o f the filing d ea d lin e w ill b e g ra n ted

T he su b m iss io n o f a Form TFR -616 report on a cla im ag a in st Iran or an Iranian en tity d o es n ot con stitu te the filing w ith the U n ited S ta tes G overnm ent o f a form al cla im for co m p en sation . N o d ec is io n h a s y e t b een reach ed on w h eth er a form al c la im s adjud ication program w ill be esta b lish ed . It shou ld b e noted , h ow ever , that failure to file com p lete in form ation w ith resp ect to c la im s in a tim ely fa sh io n n ot o n ly w o u ld con stitu te failure to com ply w ith the R egulations, but w o u ld a lso preclude the in c lu sio n o f the inform ation in U .S. G overnm ent planning. Such a failure m ay therefore be prejudicia l to the in terests o f the cla im an t and other U .S. c la im ants. E sp ou sa l o f c la im s o f U .S. n a tio n a ls aga in st a foreign governm ent is in the d iscretio n o f the Secretary o f S tate.

S in ce th is am en d m en t in v o lv es a foreign affa irs function , the p ro v is io n s o f the A d m in istrative P rocedure A ct, 5 U.S.C. 553, requiring n o tice o f prop osed rulem aking, opportunity for public participation and d e la y in e ffec tiv e d ate are in ap p licab le .

31 CFR Part 535 is am en d ed a s fo llow s:

1. S ectio n 535.615 is a d d ed a s fo llow s:

§ 535.615 Reports on Form TFR -6 15.(a) Requirement for report. R eports on

Form T FR -615 are h ereb y required to b e filed on or b efore M ay 15 ,1980 , in the m anner prescribed herein , w ith resp ect to a ll property su b ject to the jurisd iction o f the U n ited S ta tes or in the p o s se ss io n or control o f an y p erson su b ject to the jurisd iction o f the U n ited S ta tes at any tim e b e tw e e n the e ffec tiv e d ate and M arch 31 ,1980 , in w h ich Iran or an Iranian en tity h a s or h a s had any in terest.

(1) Who must report. R eports on Form TFR -615 m ust be filed b y ea ch o f the follow ing:

(i) A n y person subject to the jurisd iction o f the U n ited S ta tes or h is su ccesso r , w h o on the e ffec tiv e d ate or an y su b seq u en t d ate up to and including M arch 31,1980 , had in h is cu stod y , p o sse ss io n or control, d irectly or ind irectly , in trust or o th erw ise , property in w h ich there w a s an y direct or ind irect in terest o f Iran or an y Iranian entity , w h eth er or not the property co n tin u ed to be held b y that p erson on M arch 31,1980; and

(ii) A n y b u s in e ss or n o n -b u sin ess en tity in the U n ited S ta tes in w h ich Iran or an Iranian en tity h e ld a n y fin an cia l in terest on the e ffec tiv e d ate or on an y su b seq u en t date.

(2) Property not required to be reported. A report on Form T FR -615 is not required w ith resp ect to:

(i) Property o f a private Iranian national; and

(ii) P aten ts , copyrights, tradem arks and inventions; Provided, however, T hat a report is required w ith resp ect to an y ro y a lties due and unpaid in co n n ectio n w ith su ch property.

(b) Filing Form TFR-615. R eports on Form T FR -615 sh a ll b e prepared in trip licate. O n or b efore M ay 15 ,1980 , tw o co p ie s sh a ll b e sen t in a se t to U n it615, O ffice o f Foreign A sse ts Control, D epartm ent o f the T reasury,W ash in gton , D .C. 20220. T he third co p y m ust b e reta in ed w ith the reporter’s records.

(c) Certification. E very report on Form T FR -615 sh a ll co n ta in the certifica tion required in Part F o f the Form. Failure to co m p lete the certifica tion sh a ll render the report in e ffec tiv e , and the su b m iss io n o f such a report sh a ll not con stitu te co m p lia n ce w ith th is sec tio n .

(d) Confidentiality of reports. R eports o n Form T FR -615 are regarded a s priv ileged and con fid en tia l.

2. S ec tio n 535.616 is ad d ed a s fo llo w s:

§ 535.616 Reports on Form TFR -6 16.

(a) Requirement for reports. R eports on Form T FR -616 are h ereb y required to be filed on or b efore M ay 15 ,1980 , in the m anner prescribed herein , w ith resp ect to c la im s for lo s se s due to expropriation , n ation a liza tion , or other taking o f property or b u s in e sse s in Iran, including a n y sp ec ia l m ea su res su ch a s Iranian ex ch a n g e contro ls d irected ag a in st such property or b u sin esses; c la im s for d eb t d efau lts, for d a m ages for b reach o f con tract or sim ilar dam ages; and p erso n a l c la im s for sa la r ies or for injury to p erson or property.

(b) Who must report. R eports on Form T FR -616 m ust be filed b y ev ery p erson su b ject to the jurisd iction o f the U n ited S ta tes w h ich had a cla im aga in st Iran or an Iranian en tity w h ich a rose b efore April 15 ,1980 . N o report is to be subm itted b y a U .S. branch o f a foreign firm not o w n ed or con tro lled b y a person subject to the jurisd iction o f the U n ited S ta tes or b y a n on resid en t a lien .

(c) Filing Form TFR-616. R eports on Form T FR -616 sh a ll be prepared in trip licate. O n or b efore M ay 15 ,1980 , tw o co p ie s sh a ll b e sen t in a se t to U nit616, O ffice o f Foreign A sse ts C ontrol, D epartm ent o f the T reasury, W ashington , D.C. 20220. T he third copy

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Federal Register / Vol. 45, No. 70 / Wednesday, April 9, 1980 / Rules and Regulations

must be retained with the reporter’s record.

(d) Certification. Every report on Form TFR-616 shall contain the certification required on Part E of the Form., Failure to complete the certification shall render the report ineffective, and the submission of such a report shall not constitute compliance with this section.

(e) Confidentiality of reports. Reports on Form TFR-616 are regarded as privileged and confidential.(Secs. 201-207, 91 Stat. 1626, 50 U.S.C. 1701- 1706; E.O. No. 12170, 44 FR 65729)

Dated: April 7,1980.Stanley L. Sommerfield,D ire c to r .

Approved:Richard ). Davis,A s s i s ta n t S e c r e ta r y .

24409


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W ednesday April 9, 1980

Part VIII

Department of the Treasury_________Office of Foreign A ssets Control

Imposing Additional Prohibitions on Dealings With Iran


24432 Federal Register / Vol. 45, No. 70 / Wednesday, April 9, 1980 / Rules and Regulations

DEPARTMENT OF THE TREASURY Office of Foreign Assets Control

31 CFR Part 535Iranian Assets Control Regulations; Additional ProhibitionsAGENCY: Office of Foreign Assets Control, Treasury.ACTION: F inal rule.

SUMMARY: T he O ffice o f Foreign A sse ts C ontrol is am ending the Iranian A sse ts Control R egulations. T he purpose o f the am en d m en t is to im p ose ad d ition al proh ib itions on d ea lin gs w ith Iran. T he n eed for the am endm ent is to im plem ent the p rov ision s o f E xecu tive O rder No. 12205, sign ed by the P resident on A pril 7 ,1980 . T he effect o f the am endm ent is that exp orts to Iran, ex cep t th ose in vo lv in g food, m ed icin e, m ed ica l su p p lies, or d on ation s o f cloth ing in ten d ed to be u sed to re liev e hum an suffering, are prohibited: restr ictions are p la ced on the sh ipm ent o f go o d s to Iran; restrictions are p la ced on n ew serv ice con tracts w ith Iran; and restr iction s are p la ced on variou s fin an cia l tran saction s to w h ich Iran is a party.EFFECTIVE DATE: April 7, 1980, 4:19 p.m..e.s.t.FOR FURTHER INFORMATION CONTACT:Dennis M. O’Connell, Chief Counsel, Office of Foreign Assets Control, Department of the Treasury,W ash in gton , D.C. 20220, T el. 2 0 2 /3 7 0 - 0236.SUPPLEMENTARY in f o r m a t io n : S in ce the regu lations in v o lv e a foreign affairs function , the p rov is ion s o f the A d m in istra tive P rocedure A ct, 5 U.S.C. 553, requiring n otice o f p ro p o sed rule m aking, opportunity for p ub lic partic ipation and d e la y in e ffec tiv e date are in ap p licab le .

T he U n ited N a tio n s Security C ouncil v o ted 1 2 -0 on D ecem b er 3 1 ,1 9 7 9 to im p o se eco n o m ic sa n ctio n s on Iran if the A m erican h o sta g es w ere n ot freed b y January 7 ,1 9 8 0 . A reso lu tion m andating eco n o m ic sa n ctio n s w a s a cted upon by the Security C ouncil o f the U n ited N a tio n s on January 13 ,1 9 8 0 and w o u ld h a v e b een a d o p ted but for the v e to ca st b y the S o v ie t U nion.

T he reso lu tion ca lled upon all cou n tries to:

a. P revent the sa le or supp ly by their n a tio n a ls or from their territories, w h eth er or not originating in their territories, to or d estin ed for Iranian govern m en ta l en titie s in Iran or any other person or b o d y in Iran, or to or d estin ed for an y other p erson or b od y for the pu rp oses o f any en terprise carried on in Iran, o f a ll item s, com m o d ities or products, ex cep t food, m ed ic in e and su p p lies in ten d ed strictly for m ed ica l purposes:

b. P revent the sh ipm ent by v e sse l, aircraft, ra ilw ay , or other land transport o f their registration or o w n ed b y or under charter to their n a tio n a ls or the carriage w h eth er or not in bond b y land transport fa c ilitie s a cro ss their territories o f an y o f the item s, com m od ities, and products co v ered by subparagraph (a) w h ich are co n sig n ed to or d estin ed for Iranian governm enta l en titie s or an y person or b od y in Iran, or to an y en terprise carried on in Iran;

c. N ot m ake a v a ila b le to the Iranian authorities or to any p erson in Iran or to any enterprise con tro lled by an Iranian governm enta l en tity a n y n ew cred its or loans: sh a ll not, w ith resp ect to such p erson s or en terp rises m ake a v a ila b le an y n ew d ep o sit fa c ilitie s or a llo w su b sta n tia l in crea ses in ex istin g n on d ollar d ep o sits or a llo w m ore favorab le term s o f p aym en t than cu stom arily u sed in in ternational com m ercia l transactions: and sh a ll act in a b u sin ess lik e m anner in exerc isin g a n y rights w h en p aym en ts due on ex istin g cred its or lo a n s are not m ade on tim e and sh a ll reqpire an y p erson s or en titie s w ith in their jurisd iction to do lik ew ise;

d. Prevent the sh ipm ent from their territories on v e s s e ls or aircraft reg istered in Iran o f products and com m o d ities co v ered b y subparagraph (a) above;

e. P revent their n a tio n a ls , or firm s lo ca ted in their territories, from engaging in serv ice contracts, in support o f industria l projects in Iran, other than th o se con cern ed w ith m ed ica l care;

f. Prevent their n a tio n a ls or any p erson or b od y in their territories from engaging in an y a c tiv ity w h ich e v a d e s or h a s the purpose o f ev a d in g a n y o f the d ec is io n s se t out in th is resolution:

T he U n ited S ta tes n o w is im plem enting the sa n ctio n s co n tem p la ted b y th is reso lu tion . T he P resident on A pril 7 ,1 9 8 0 , sign ed E xecu tive O rder 12205 pursuant to the International E m ergency E conom ic P ow ers A ct im posing th ese sa n ctio n s. T h ese regu lations are b ein g is su ed as am en d m en ts to the Iranian A sse ts C ontrol R egu lations to im plem ent that order.

In reading th ese regu lations, the fo llo w in g shou ld be considered:

1. T he proh ib itions in v o lv ed in th ese sa n c tio n s are lis ted in § 535.206 and§ 535.207 and are in ad d ition to the sa n ctio n s p rev io u sly im p osed under § 535.201;

2. A ll p ro v is io n s in the form o f g eneral lic e n se s , d efin ition s, in terpretations and other p ro v is io n s p rev io u sly is su ed under th is part and still in e ffect apply, w h ere relevant, to the sa n ctio n s co n ta in ed in the regu lations being pub lish ed today:

3. E xports to Iran are n o w govern ed b y the prohib ition in § 535.207(a) and rela ted p rov ision s. It is ex p ec ted that o v e r se a s su b sid ia r ies o f U n ited S tates p erson s w ill not m ake exports prohib ited by th ese regulations. U.S. parent en titie s m ust inform the O ffice o f Foreign A sse ts C ontrol ten d a y s before any o f its su b sid ia r ies p ro p o ses to m ake any export to Iran; and

4. T he proh ib itions con ta in ed in the reso lu tion acted upon b y the U .N. Security C ouncil concern ing n ew lo a n s and cred its are govern ed by § 535.201, as interpreted by § 535.419.

31 CFR, Part 535 is am ended as fo llow s:

1. S ectio n 535.201 is rev ised to read as fo llow s:

§ 535.201 Transactions involving property in which Iran or Iranian entities have an interest.

No property subject to the jurisdiction of the United States or which is in the possession of or control of persons subject to the jurisdiction of the United States in which on or after the effective date Iran has any interest of any nature whatsoever may be transferred, paid, exported, withdrawn or otherwise dealt in except as authorized.

2. S ection 535.203 is am en d ed by the add ition o f paragraph (f), a s fo llow s:

§ 535.203 Effect of transfers violating the provisions of this part.* * * * *

(f) For the purpose o f this sec tio n the term "property" in c lu d es gold, silver, bullion , currency, coin , credit, secu rities (as that term is d efin ed in sec tio n 2(1) o f the S ecu rities A ct o f 1933, a s am ended), b ills o f exch an ge, n o tes , drafts, a ccep ta n ces , ch eck s, letters o f credit, b ook cred its, deb ts, cla im s, contracts, n eg o tia b le docu m en ts o f title, m ortgages, lien s, annu ities, in surance p o lic ies , op tion s and futures in com m od ities, and ev id e n c e s o f an y o f the foregoing. The term “property” sh a ll not, ex cep t to the ex ten t in d ica ted , be d eem ed to include ch a tte ls or real property.

3. S ec tio n 535.206 is ad d ed a s fo llow s:

§ 535.206 Financial Transactions.(a) Except as authorized by means of

regulations, rulings, instructions, licenses or otherwise, no person subject to the jurisdiction of the United States shall, directly or indirectly, in any transaction involving Iran, an Iranian governmental entity, an enterprise controlled by Iran or an Iranian governmental entity, or any person in Iran:

(1) Make available any new deposit facilities or allow substantial increases in existing non-dollar deposits.


Federal Register / Vol. 45, No. 70 / Wednesday, April 9, 1980 / Rules and Regulations 24433

(2) Allow more favorable terms of payment than customarily used in international commercial transactions.

(3) Fail to act in a business-like manner in exercising any rights when payments due on existing credits or loans are not made in a timely manner, provided the exercise of such rights is not otherwise prohibited by this part.

(b) The prohibitions contained in paragraph (a) of this section shall not apply to transactions by any person subject to the jurisdiction of the United States which is a non-banking association, corporation or other organization organized and doing business under the laws of any foreign country. The U.S. parent of any such person must report to the Office of Foreign Assets Control any prospective transaction with Iran contained in paragraph (a) of this section ten days before any subsidiary enters into such a transaction.

4. S ectio n 535.207 is a d d ed a s fo llow s:

§ 535.207 Trade, shipping and service transactions.

(a) All of the following transactions are prohibited, except as authorized by means of regulations, rulings, instructions, licenses or otherwise:

(1) The sale, supply or other transfer, by any person subject to the jurisdiction of the United States, of any items, commodities or products, except food, medicine or supplies intended strictly for medical purposes, and donations of clothing intended to be used to relieve human suffering, from the United States, or from any foreign country, whether or not originating in the United States, either to or destined for Iran, an Iranian governmental entity in Iran, any other person or body in Iran, or any other person or body for the purposes of any enterprise carried on in Iran.

(2) The shipment by vessel, aircraft, railway or other land transport of United States registration or owned by or under charter to a person subject to the jurisdiction of the United States or the carriage (whether or not in bond] by land transport facilities across the United States of any of the items, commodities or products covered by paragraph (a) of this section which are consigned to or destined for Iran, an Iranian governmental entity, or any person or body in Iran, or to any enterprise carried on in Iran.

(3) The shipment from the United States of items, products or commodities covered by paragraph (a) of this section on vessels or aircraft registered in Iran.

(4) The engaging, by any person subject to the jurisdiction of the United States, in any service contract in support of industrial projects in Iran,

ex cep t an y such con tracts en tered into prior to the e ffec tiv e d ate or con cern ed w ith the prov ision o f m ed ica l serv ices .

(b) T he proh ib itions co n ta in ed in paragraph (a] o f th is sec tio n sh a ll not app ly to tran saction s b y an y person subject to the jurisd iction o f the U n ited S ta tes w h ich is a non-banking a sso c ia tio n , corporation or other organ ization organ ized and doing b u sin ess under the la w s o f an y foreign country. T he U .S. parent o f any such p erson m ust report to the O ffice o f Foreign A sse ts Control an y tran saction w ith Iran con ta in ed in paragraph (a) o f this sec tio n ten d a y s before any su b sid iary enters into such a transaction .

5. S ectio n 535.208 is ad d ed a s fo llow s:

§ 535.208 Evasions; effective date.

(a) A n y tran saction for the purpose of, or w h ich h a s the effec t of, ev a d in g or avo id in g an y o f the proh ib itions se t forth in this subpart is h ereb y prohib ited .

(b] T he term “effec tiv e d a te ” m eans, w ith resp ect to tran saction s proh ib ited in § 535.201, 8:10 a.m . ea stern standard tim e, N ovem b er 14 ,1979 , and w ith resp ect to the tran saction s proh ib ited in §§ 535.206 and 535.207, 4:19 p.m. ea stern standard tim e, A pril 7 ,19 8 0 .

6. Subpart C is a m en d ed b y the add ition o f §§ 535.308 and 535.331 as fo llow s:

Subpart C—General Definitions* * * * *

§ 535.308 Person.

T he term “p erso n ” m ea n s an ind ividual, partnership , a sso c ia tio n , corporation or other organ ization , * * * * *

§ 535.331 Food.

The term “fo o d ” a s u sed in § 535.207(a) sh a ll in clu d e com m od ities d irectly con su m ed b y hum ans or by an im als w h en such an im als are prim arily u sed a s a source o f food .

7. Subpart D is am en d ed by the add ition o f §§ 535.401, 535.402, 535.403, 535.419(e), 535.421, 535.422, 535.423, 535.424 and 535.425, a s fo llow s:

Subpart D—Interpretations

§ 535.401 Reference to amended sections.

R eference to any sec tio n o f this part or to any regulation , ruling, order, instruction , d irection or lic e n se is su ed pursuant to this part sh a ll be d eem ed to refer to the sam e as currently am en d ed u n less o th erw ise so sp ec ified .

§ 535.402 Effect of amendment of sections of this part or of other orders, etc.

A n y am endm ent, m od ifica tion , or rev o ca tio n o f a n y sec t io n o f th is part or o f an y order, regulation , ruling, instruction , or l ic e n se is su e d b y or under the d irection o f the S ecretary o f the T reasury pursuant to sec t io n 203 o f the In ternational E m ergency E con om ic P ow ers A ct sh a ll not, u n le ss o th erw ise sp ec ifica lly provided , b e d eem ed to affect an y act d o n e or om itted to b e done, or an y su it or p roceed in g h a d or co m m en ced in an y c iv il or crim inal c a se , prior to su ch am endm ent, m od ifica tion , or rev o ca tio n an d all p en a ltie s , forfeitures, and lia b ilit ie s under an y su ch order, regulation , ruling, in struction or lic e n se sh a ll con tin u e and m ay b e en forced a s if su ch am endm ent, m od ification , or rev o ca tio n h ad n ot b e e n m ade.

§ 535.403 Termination and acquisition of an interest of Iran or an Iranian entity.

(a) W h en ev er a tra n sa ctio n lic e n se d or au thorized b y or pursuant to th is part resu lts in the transfer o f property (including an y property in terest) a w a y from Iran or an Iranian en tity , such property sh a ll no longer b e d eem ed to be property in w h ich Iran or an Iranian en tity h a s or h a s h ad an in terest, u n le ss there e x is ts in the property another such in terest the transfer o f w h ich h a s not b een e ffec ted pursuant to l ic e n se or other authorization .

(b) U n le ss o th erw ise sp ec ifica lly p rov id ed in a lic e n se or au thorization co n ta in ed in or is su ed pursuant to th is part, if property (including a n y property in terest) is transferred to Iran or an Iranian in terest, such property sh a ll be d eem ed to b e property in w h ich there e x is ts an in terest o f Iran or an Iranian entity .

§ 535.419 Extensions of credit to Iran.* * * * *

(e) T he prohib ition in § 535.201 d o es not app ly to e x te n s io n s or ren ew a ls o f cred its to Iran or an Iranian en tity by an y p erson su b ject to the jurisd iction o f the U n ited S ta tes w h ich is a n o n banking a sso c ia tio n , corporation or other organ ization organ ized and doing b u sin ess under the la w s o f an y foreign country.* * * * *

§ 535.421 Prior contractual commitments not a basis for licensing.

Specific licenses are not issued on the basis that an unlicensed firm commitment or payment has been made in connection with a transaction prohibited by this part. Contractual commitments to engage in transactions subject to the prohibitions of this part


24434 Federal Register / Vol. 45, No. 70 / Wednesday, April 9, 1980 / Rules and Regulations

shou ld not be m ade, u n less the contract sp ec ifica lly s ta te s that the tran saction is authorized by g en era l lic e n se or that it is su b ject to the is su a n ce o f a sp ec ific lic en se .

§ 535.422 New deposit facilities.

(a) The prohibition contained in§ 535.206(a) in c lu d es the open ing o f any n e w a cco u n ts as w e ll a s the a ccep ta n ce o f non-dollar d ep o sits in an y ex istin g a cco u n ts w h ere the resu lting b a la n ce w o u ld b e su b sta n tia lly greater than that ex istin g on the e ffec tiv e date.

(b) A b a la n ce is su b sta n tia lly greater if it is m ore than 10% greater than the a verage d a ily b a la n ce during the six - m onth period prior to the e ffec tiv e date o f § 535.206.

(c) A n acco u n t is not a n e w a ccou n t if it is e sta b lish ed as a resu lt o f a transfer authorized b y § 535.508 or o th erw ise lic e n se d under this part.

§ 535.423 Customary international commercial terms.

(a) § 535.206(b) prohib its the sa le to Iran, an y Iranian en tity or an y p erson in Iran o f an y com m od ity on co n d itio n s m arked ly d ifferent from th ose cu stom arily o ffered by other se llers o f that com m od ity in term s o f price, m ethod o f p aym en t and tim e o f paym ent.

(b) T his sec tio n sh a ll not be construed to authorize an y tran saction w h ich is o th erw ise prohib ited by th is part.

§ 535.424 Service contracts in support of industrial projects in Iran.

Specific licenses to enter into any service contract in support of any enterprise in Iran will be considered on a case-by-case basis. No service contract should be entered into without a specific license.§ 535.425 Iranian enterprise.

For pu rp oses o f § 535.206, the term “enterprise" m ean s any b u s in e ss or com m ercia l a ctiv ity or venture o f any kind w h a tso ev er , w h eth er op erated or organ ized as a corporation , partnership , joint venture, a sso c ia tio n , so le proprietorship , or o th erw ise .

8. Subpart F, is am en d ed by the rev o ca tio n o f § 535.533, and the add ition o f § § 535.572 and 535.574, a s fo llow s:

Subpart E—Licenses* * * * *

§535.533 [Revoked]* * * * *

§ 535.572 Authorization of exports of certain types of goods to Iran.

A ll tra n sa ctio n s not in co n s isten t w ith § 535.419 and ord inarily in c id en t to the

export to Iran of the following types of goods are hereby authorized:

(a) Medicines and supplies intended strictly for medical purposes.

(b) Food.(c) Donations of clothing intended to

be used to relieve human suffering.§ 535.574 Service contracts in support of telecommunications in Iran.

Specific licenses will be considered for transactions incident to telecommunications with Iran.§535.903 [Revoked]

9. S ectio n 535.903 is revoked .

(Secs. 201-207, 91 Stat. 1626, 50 U.S.C. 1701- 1706; E.O. No. 12170, 44 FR 65729; E.O. No. 12205, 45 FR 24099.)

Dated: April 7,1980.Stanley L. Sommerfield,Director.

Approved:Richard J. Davis,Assistant Secretary.[FR Doc. 80-10905 Filed 4-7-80: 5:11 pm]

BILLING CODE 4810-25-M


(OMB Clearance Not Required)

Form T FR -615

CENSUS OF BLOCKED IRANIAN ASSETS

Office of Foreign Assets Control Unit 615

Department of the Treasury Washington, D.C. 20220

M ultiple Report I l M

D E A D L IN E : This form is to be completed and returned to the above address by May 15, 1980.

Form T F R -615 is to be used by all persons required to file reports pursuant to section 535.615 of T itle 31 of the Code of Federal Regulations. BEFORE PREPA RING TH IS REPORT READ THE IN S TR U C TIO N S C A R E F U L L Y . All information reported will be regarded as privileged and confidential. For assistance, call (202) 376-0968 or 376-0969.

To the Secretary of the Treasury:

The undersigned, pursuant to section 535.615 of T itle 31 of the Code of Federal Regulations, hereby makes the following report:

Part A —IN F O R M A T IO N C O N C E R N IN G IR A N IA N E N T IT Y WHOSE PRO PERTY IS REPO RTED (See instructions for Part A.)

1.

2 .

Nam e______________________________________

Any variant nam e__________________________

Add ress____________________________________(Street)

(City)

(State or foreign country)

2. Iran □ I U .S .A .n U Other □ O

(check one)

3. Place of incorporation or principal place of business 3. Iran d ] I U .S .A .D U Other □ O

(check one)

4. Ownership interests in entity 4. Iran I l l ~l % Iu .s .a . n m % UOther I I I I % O

(enter %)

Page 1


Census of Blocked Iranian Assets.—(Form T F R -6 1 5 )—Continued

5. Type of entity:

a. Iranian Government or any agency or instrumentality thereof, excludingdiplomatic and consular missions................................................................................... O I

b. Iranian diplomatic and consular m is s io n .................................................................... Q D

c. Iranian Central Bank (Bank Markazi I r a n ) ................................................................... O M

d. Iranian commercial b a n k ................................................................................................. O B

e. Other Iranian corporation .............................................................................................. CH C

f. Consortium or jo int v e n tu re ........................................................................................... □ J

g. Unincorporated association ........................................................................................... Q j U

h. O th e r ........................................................................................................................................ □ 0

6. Joint interests: List other Iranian entities with an interest in property reported (applies only to multiple reports (box M on page 1)) _________________________________________________________________________________________

Continue with Part B on next page.



Part B—SCHEDULE OF PRO PERTY REQUI RED TO BE REPO RTED (See instructions for individual lines.)

(Enter value in whole dollars)

( 1) (2)Type Original Amount

Amount 3 /31 /80

1. Depositsa. Time .............................................................................................. .......................................................................................................

b. D e m a n d ........................................................................................ .............................................. ..............................................

2. Bullion, currency and c o in .............................................................. .............................................. ...............................................

3. Notes, checks, drafts, acceptances, commercial paper, etc. . -------------------------------------- ---------------------------------------

4. D e b ts ....................................................................................................... .............................................. ...............................................

5. Financial securities payable in d o lla rs ......................................... .............................................. ..............................................

6. Financial securities payable in other currencies........................ .............................................. ..............................................

7. Direct investment in U.S. businesses............................................ .............................................. ..............................................

8. Real estate ........................................................................................... .............................................. ...............................................

9. Personal propertya. Goods consigned to Ira n ........................................................... .............................................. ..............................................

b. O th e r .............................................................................................. .............................................. ...............................................

10. Commercial letters of credit issued by U.S. b an ks .................. .............................................. ...............................................

11. Commercial letters of credit c o n f i r m e d by U.S. banks . . . . _______________________________________________

12. S ta n d b y letters of credit

a. Am ount of c re d it......................................................................... .............................................. ...............................................

b. Am ount of section 535.568 account _______________________ _______________________

13. Miscellaneous........................................................................................ .............................................. ...............................................

T O T A L (1. through 13.) _______________________ _______________________

14. If amount in column (2) differs from amount in column (1) for any line above, explain increase or decrease bychecking the appropriate box:

a. General license 535.508 ................................................................................................................................................... EH A

b. General license 535.531 ................................................................................................................................................... EH B

c. General license 535.532 ................................................................................................................................................... |~~] C

d. General license 535.566 ................................................................................................................................................... EH D

e. General license 535.902 ................................................................................................................................................... EH E

f. Specific license (give license num ber)-------------------------------------------------------------------------------------------------------- EH F

g. Other (explain)__________________________________________________________________________________ EH U

Page 3

_


Census of Blocked Iranian Assets.-(Form T F R -6 1 5 )—Continued

Part C —A D D IT IO N A L DESC RIPTIO N OF PRO PERTY ITEMS

Type Brief Description of Property

Part D -A D V E R S E C LA IM S A G A IN S T PRO PERTY REPO RTED

T y p e A m o u n t

a. A ttach m en t............................................................. A

b. Lien ...................................................................... L

c. Set-off .................................................................... S

d. Disputed liability ............................................. D

e. T itle d ispute.......................................................... T

2. Indicate at right the citizenship of the adverse claimant Iran

U.S.A.

Other

□ I□ u

□ 0(check one)

3. Is the holder an adverse claimant?...................................................................................................................... Yes D Y

No □ N

(check one)

Page 4



Part E -P E R S O N H O L D IN G PRO PERTY (see instructions)

1. N a m e_________________________________________________________________ EIN/SSN

(Street)_ _


3. If owned or controlled firm is located in Iran, check b o x ............................................ [II I

4. Type of holder (check one)

Bank ...................................................................................................................................................................................... □ B

Broker or securities d e a le r ............................................................................................................................................. Q S

Oil company or oilfield services c o m p a n y ................................................................................................................ [U 0

Defense-related industry ................................................................................................................................................ d l D

Construction company ................................................................................................................................................... [U C

Other business f i r m ............................................................................................................................................................ [H T

In d iv id u a l............................................................................................................................................................................. □ |

U.S. Government a g e n c y ................................................................................................... d G

Other (explain) _____________________________________________________________________________ Q y

(Submit list of owned or controlled foreign firms per instructions)

Part F—C E R T IF IC A T IO N (see instructions)

I___________________________________________(Type or print name)

, certify that I am

the(State relationship of signatory to holder, e.g., treasurer, holder (if an individual))

of the(Name of holder)

that I am authorized to make this certification, and that, to the best of my knowledge and belief, the statements set forth in this report, including any papers attached hereto or filed herewith, are true and accurate, and that all material facts in connection with said report have been set forth herein.

(Date)

Person to contact regarding this report:

(name)

Address

(Signature)

(Street)

(City

(State)

(telephone number) (over)

Page 5



PE N A LTIE S : Attention is directed to 18 U.S.C. section 1001, which provides:

"Whoever, in any matter within the jurisdiction of any department or agency of the United States, knowingly and w illfully falsifies, conceals or covers up by any trick, scheme, or device a material fact, or makes any false, fictitious or fraudulent statements or representations, or makes or issues any false writing or document knowing the same to contain any false, fictitious or fraudulent statement or entry, shall be fined not more than $10 ,000 or imprisoned not more than five years, or both."

Attention is also directed to 50 U.S.C. section 1705 which provides:

"(a) A civil penalty of not to exceed $10 ,000 may be imposed on any person who violates any license, order, or regulation issued under this title.

(b) Whoever w illfu lly violates any license, order, or regulation issued under this title shall, upon conviction, be fined not more than $50,000, or, if a natural person, may be imprisoned for not more than ten years, or both, and any officer, director, or agent of any corporation who knowingly participates in such violation may be punished by a like fine, imprisonment, or both."

Page 6


(OMB Clearance Not Required)

Form T FR -616

CENSUS OF CLAIMS BY UNITED STATES PERSONS AGAINST IRAN

Office of Foreign Assets Control Unit 616

Department of the Treasury Washington, D.C. 20220

D E A D L IN E : This form is to be completed and returned to the above address by May 15, 1980.

IM P O R TA N T NO TE: The submission of this report does not constitute the filing with the United States Government o f a formal claim for compensation, nor does it guarantee that the claim will be included in any future agreement. However, failure to file complete information in a tim ely fashion not only would constitute failure to comply with the Regulations, it also would preclude the inclusion of information in U.S. government planning and may therefore be prejudicial to the claimant and other U.S. claimants.

Form T F R -616 is to be used by all persons required to file reports pursuant to section 535.616 of T itle 31 of the Code of Federal Regulations. BEFO RE PREPA RING TH IS REPO RT READ TH E IN S TR U C TIO N S C A R E F U L L Y . All information reported will be regarded as privileged and confidential. For assistance, call (202) 376-0968 or 376-0969.

To the Secretary of the Treasury:

The undersigned, pursuant to section 535.616 of T itle 31 of the Code of Federal Regulations, hereby makes the following report:

PAR T A —IN F O R M A T IO N C O N C E R N IN G U.S. C L A IM A N T

EIN/SSN n

1.

2 .

3.

Name(First)

Any variant name (trade name, etc.)

(Middle)

Mailing address(Street)

(City)

(Last)


Page 1


Census of Claims by United States Persons Against Iran.—(Form TFR -616)~C ontinued

4. Type of claimant (Check one of the following):

Bank ..................................................................................................................................................................... D BOil company or oilfield services c o m p a n y ................................................................................................ D 0Defense-related industry ............................................................................................................................... D DConstruction company .................................................................................................................................. CU C

Other business................................................................................................................................................... D T

In d iv id u a l............................................................................................................................................................ □ |

U.S. government agency................................................................................................................................. D G

Other (e x p la in )_______________________________________________________________________ Q U

5. a. I f claimant is an individual, state nationality: Iran Q |

U.S.A. □ U

Other CU 0

b. If "O ther,” specify nationality ______________________________________________________________________

6. If claimant is a corporation or other legal entity:

a. State date and place of incorporation ________________________________________________________ ___________

b. State percentage of the outstanding capital stock of all classes or of other beneficial interest owned, directly

Yes □ Y

No □ N

8. If any other person, firm , corporation or other entity which, either at present or since the date of loss, has or has

or indirectly, by persons who were U.S. nationals on the date of loss:

7. Has there been any change in the nationality status of claimant since the date of loss?

If "Yes," explain

had any interest in the claim, indicate names and present addresses of all such parties:

Page 2


PAR T B—S U M M A R Y OF C LA IM S R E Q U IR E D TO BE REPO RTED. Report value as of date of loss. See specific instructions. (Use schedule in Part C for reporting claims separately.)

1. Business Claims

Type Amount

a. Syndicated loans

Total amount ___________________ S1

Claimant's share ___________________ S2

Any default(s) declared? Yes CH Y

No □ N

Total amount _______________________ S3 Claimant's Share _______________________ ________ S4

b. Other bank loans

Total amount _______________________ B1 Am ount due or in default _______________________ B2

c. Loans by nonbank companies

Census of Claims by United States Persons Against Iran.—(Form T F R -6 1 6 )—Continued

Total amount ________________________ N1 Am ount due or in default ___________________ _ N2

d. Receivables................................................................................................................................................................. R

e. Losses due to Iranian exchange c o n tro ls ........................................................................................................... F

f. Oil company contract d am ages ........................................................................................................................... 0

g. Other contract dam ages.......................................................................................................................................... K

h. Other damage c la im s ............................................................................................................................................... D

i. Expropriation losses:

(1) Loss of equity, concessions, or going concern v a lu e ............................................... ..... ....................................... E

(2) Loss of tangible as se ts ....................................................................................................... ....................................... ..... T

j. O th e r ............................................................................................................................................................................. U

Subtotal 1. _____________________ B1

2. Personal Claims

a. Expropriation losses................................................................................................................................................ X

b. Exchange controls...................................................................................................................................................... F

c. Salaries, receivables, insurance, other contractual c la im s.............................................................................. R

d. Personal injury, property damage and other to rt c la im s .............................................................................. I

e. O t h e r ............................................................................................................................................................................. U

Subtotal 2. _____________________ b 2

T O T A L (Subtotals 1. plus 2.) ____________________ B 3

Page 3

I M H H N B H I


Census of Claims by United States Persons Against Iran.—(Form T F R -616 )—Continued

3. Summary of actual or potential compensation

a. Claim(s) filed with U.S. government agency...................................................................................................................... G

b. Insurance or other indemnity or b e n e f i t ............................................................................... ............................................. I

Total (line 3. a. & b. o n ly ): ____________________ T

Continue on next page with Part C.

Page 4



PART C -S C H E D U L E FOR SEPARATE DESC RIPTIO N OF C LA IM S

(Attach separate sheets or additional copies of Part C, as needed)

EIN/SSN I I I I I I I I I I FFC □

1. a. Name of claimant ----------------------------------------------------------------------------------------------------------------------------- —- -------(First) (Middle) (Last)

b. Is claim for a foreign branch, subsidiary or office?

Yes □ Y

No □ N

2. Type of claim _________________________________________________________________________ Code

__________________________________________________________________ □

3. a. Am ount of loss on this claim _______________________________________________________(except syndicated loans)

b. Syndicated lo a n ............................................................................. Total am ount--------------------------------------- S1

Claimant's share_______________________ S2

Any default(s) declared?....................................................................................................... Yes O Y

No □ N

Total amount ___________________________ S3

Claimant's share ---------------------------------------------- S4

4. Iranian entity against which claim is reported.

a. Name ______________________ __________________________________________________________ — — ----------

Any variant name ------------------------------------------------------------------------ —— --------------------------------------------------------

b. Address -------------------------------------------------------------------------------------------------------------— ----------------------------------------

c. Type of entity.

1. Central Bank of Iran (Bank Markazi Iran) .............................................................. EH M

2. Iranian government or agency or instrumentality ............................................... I I I

3. Government controlled e n t i ty ..................................................................................... D E

d. State basis for belief that entity is owned or controlled by Government of Iran:

5. a. Date of Loss _____________________________________________________________________________________

b. Did loss occur on or after October 1, 1 9 7 8 ? .................................................................... Yes O Y

No □ N

Page 5



6. Method of valuation ------------------------------------------------------(Enter appropriate principle from Instructions, e.g., "market value")

7. Describe circumstances of loss and measures which caused the loss, including description of property or nature of business which is the subject of claim:

8. Is contract governed by Iranian law? ....................................................................................... Yes ED Y

No □ N

9. Does contract specify Iranian fo ru m ? ....................................................................................... Yes EH Y

No □ N

10. Is documentary evidence of loss available?(Do not enclose documents.)....................................................................................................... Yes ED Y

No □ N

11. a. On the date of loss, did you own this claim or any property on which the claim isbased? ................................................................................................................................... Yes ED Y

No ED N

Yes I l Yb. If not, was owner a U.S. person on such d a te ? ................................................................No □ N

12. Has the claimant filed an attachment or other judicial proceedings?.................................... Yes ED Y

No □ N

13. Has claimant obtained a waiver of sovereign im m un ity? ......................................................... Yes ED Y

No □ N

14. Does claimant hold any property (e.g., bank deposits) against which a remedy such as aset-off can be asserted? .............................................................................................................. Yes ED Y

No □ N

15. Is claim liquidated (e.g., specific sum conceded by Iranian entity)? ..................................... Yes ED Y

No □ N

Page 6


Census of Claims by United States Persons Against Ira n .-(F o rm T F R -6 1 6 )—Continued

PART D—IDENTITY OF PERSON PREPARING REPORT

1. Name _________________________________________

2. Address ------------------------------------------------------------------(Street)

(City)


4. Relationship to claimant

a. C la im ant................................................................................................................................ D C

b. A g en t............................................................................................................................................ CD Ac. T rustee ......................................................................................................................................... □ T

d. B a nke r......................................................................................................................................... CD Be. Insurance Company..................................................................................................................... CD •f. O th e r ..................................................................................................................................... C D O

PART E-CERTIFICATION

Claimant is a person subject to the jurisdiction of the United States

I _________________________________________________________________(Type or Print Name)

(State relationship of signatory to the person)

Check CD_, certify that I am the

_____________ of the

(Name of claimant)

that I am authorized to make this certification, and that, to the best of my knowledge and belief, the statements set forth in this report, including any papers attached hereto or filed herewith, are true and accurate, and that all material facts in connection with said report have been set forth herein.

(Date)

Person to contact regarding this report:

Address

(Signature)

(Street)

(City)

(State)

(Name) (Telephone number)

Page 7



PENALTIES:

Attention is directed to 18 U.S.C. section 1001, which provides:

"Whoever, in any matter w ithin the jurisdiction of any department or agency of the United States, knowingly and w illfu lly falsifies, conceals or covers up by any trick, scheme, or device a material fact, or makes any false, fictitious or fraudulent statements or representations, or makes or uses any false writing or document knowing the same to contain any false, fictitious or fraudulent statement or entry, shall be fined not more than $10,000 or imprisoned not more than five years, or both.”

Attention is also directed to 50 U.S.C. section 1705 which provides:

"(a) A civil penalty of not to exceed $10,000 may be imposed on any person who violates any license, order, or regulations issued under this title.

(b) Whoever w illfu lly violates any license, order, or regulation issued under this title shall, upon conviction, be fined not more than $50,000, or, if a natural person, may be imprisoned for not more than ten years, or both; and any officer, director, or agent of any corporation who knowingly participates in such violation may be punished by a like fine, imprisonment, or both.”

Page 8


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