 |
Code of Federal Regulations (Last Updated: July 5, 2024) |
 |
Title 31 - Money and Finance: Treasury |
|
Subtitle B - Regulations Relating to Money and Finance |
|
Chapter V - Office of Foreign Assets Control, Department of the Treasury |
|
Part 589 - Ukraine Related Sanctions Regulations |
|
Subpart D - Interpretations |
§ 589.412 - Projects owned, or to which a majority of voting rights are held, by one or more persons subject to § 589.205.
Latest version.
-
§ 589.412 Projects owned, or to which a majority of voting rights are held, by one or more persons subject to § 589.205.
The prohibitions in § 589.205(b) apply to projects owned 33 percent or more, or to projects in which a majority of voting interests are held, individually or in the aggregate, by one or more persons subject to § 589.205, their property, or their interests in property, including entities owned 50 percent or more by one or more persons subject to § 589.205.
Example 1 to § 589.412:
If two entities that are each subject to § 589.205 each hold a 20 percent ownership interest in Project X, or together own a majority of the voting interests in Project X, then the prohibition in § 589.205(b) applies to Project X.