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Code of Federal Regulations (Last Updated: October 10, 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 520 - International Criminal Court-Related Sanctions Regulations |
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Subpart D - Interpretations |
§ 520.403 - Termination and acquisition of an interest in blocked property.
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§ 520.403 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 whose property and interests in property are blocked pursuant to § 520.201, such property shall no longer be deemed to be property blocked pursuant to § 520.201, unless there exists in the property another interest that is blocked pursuant to § 520.201, 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 § 520.201, such property shall be deemed to be property in which such person has an interest and therefore blocked.