§ 560.425 - Entities owned by one or more persons whose property and interests in property are blocked.  


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  • § 560.425 Entities owned by a person one or more persons whose property and interests in property are blocked.

    A person

    (a) Persons whose property and interests in property are blocked pursuant to § 560.211

    has

    have an interest in all property and interests in property of an entity in which

    it owns,

    such persons directly or indirectly own, whether individually or in the aggregate, a 50 percent or greater interest. The property and interests in property of such an entity, therefore, are blocked, and such an entity is a person whose property and interests in property are blocked pursuant to § 560.211, regardless of whether the entity itself is

    designated

    identified as a person whose property and interests in property are blocked pursuant to § 560.211.

    Note to § 560.425:

    (b) This section, which deals with the consequences of ownership of entities, in no way limits the definition of the Government of Iran in § 560.304.

    [87 FR 78477, Dec. 21, 2022]