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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 31 - Money and Finance: Treasury |
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Subtitle B - Regulations Relating to Money and Finance |
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Chapter V - Office of Foreign Assets Control, Department of the Treasury |
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Part 500 - [Reserved] |
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Subpart D - Interpretations |
§ 500.403 - Termination and acquisition of the interest of a designated national.
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(a) Except as provided in § 500.525, whenever a transaction licensed or authorized by or pursuant to this chapter results in the transfer of property (including any property interest) away
from a designated national, such property shall no longer be deemed to be property in which a designated national has or has had an interest unless there exists in such property an interest of a designated national, the transfer of which has not been effected pursuant to license or other authorization. (b) Unless otherwise specifically provided in a license or authorization contained in or issued pursuant to this chapter, if property (including any property interest) is transferred to a designated national such property shall be deemed to be property in which there exists the interest of a designated national.