[Federal Register Volume 61, Number 43 (Monday, March 4, 1996)]
[Rules and Regulations]
[Page 8216]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4899]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 535
Iranian Assets Control Regulations; Shams Pahlavi Assets
Unblocked
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Final rule; amendment to the list of persons whose assets are
subject to blocking.
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SUMMARY: The Office of Foreign Assets Control of the U.S. Department of
the Treasury is amending section 535.217 of the Iranian Assets Control
Regulations, 31 CFR Sec. 535.217, to remove the name Shams Pahlavi from
Sec. 535.217(b). Shams Pahlavi, sister of Mohammed Reza Pahlavi, the
former Shah of Iran, previously was identified in Sec. 535.217(b) as a
person who had been served as a defendant in litigation brought by Iran
in a court within the United States seeking the return of property
alleged to belong to Iran. She therefore was identified as a person
whose United States assets were blocked pursuant to the provisions of
Sec. 535.217(a). Reference to Shams Pahlavi is now removed from
Sec. 535.217(b) based upon the final termination of all pertinent
litigation against her. Accordingly, her United States assets are no
longer blocked pursuant to Sec. 535.217(a).
EFFECTIVE DATE: March 1, 1996.
FOR FURTHER INFORMATION CONTACT: Regarding the status of blocked
assets, Loren L. Dohm, Blocked Assets Division (tel.: 202/622-2440);
regarding legal questions, William B. Hoffman, Chief Counsel (tel.:
202/622-2410); Office of Foreign Assets Control, Department of the
Treasury, Washington, D.C. 20220.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document is available as an electronic file on The Federal
Bulletin Board the day of publication in the Federal Register. By
modem, dial 202/515-1387 and type ``/GO FAC,'' or call 202/512-1530 for
disks or paper copies. This file is available for downloading without
charge in WordPerfect, ASCII, and Adobe AcrobatTM readable (*.PDF)
formats. The document is also accessible for downloading in ASCII
format without charge from Treasury's Electronic Library (``TEL'') in
the ``Business, Trade and Labor Mall'' of the FedWorld bulletin board.
By modem dial 703/321-3339, and select the appropriate self-expanding
file in TEL. For Internet access, use one of the following protocols:
Telnet = fedworld.gov (192.239.93.3); World Wide Web (Home Page) =
http://www.fedworld.gov; FTP = ftp.fedworld.gov (192.239.92.205).
Background
The Office of Foreign Assets Control is amending Sec. 535.217(b) of
the Iranian Assets Control Regulations, 31 CFR part 535, to reflect
changes in the status of litigation brought by Iran against close
relatives of the former Shah of Iran seeking the return of property
alleged to belong to Iran. In 1991, Shams Pahlavi was identified in
Sec. 535.217(b) based on proof of service upon her in litigation of the
type described in Sec. 535.217(a). Pursuant to that provision, all
property and assets located in the United States within the control of
Shams Pahlavi were blocked until all pertinent litigation against her
was finally terminated. Because that litigation has been finally
terminated, reference to Shams Pahlavi is deleted from Sec. 535.217(b).
Because the Regulations involve a foreign affairs function,
Executive Order 12866 and the provisions of the Administrative
Procedure Act, 5 U.S.C. 553, requiring notice of proposed rulemaking,
opportunity for public participation, and delay in effective date, are
inapplicable. Because no notice of proposed rulemaking is required for
this rule, the Regulatory Flexibility Act, 5 U.S.C. 601-612, does not
apply. Wherever possible, however, it is the practice of the Office of
Foreign Assets Control to receive written submissions or hold informal
consultations with interested parties before the issuance of any rule
or other public document.
List of Subjects in 31 CFR Part 535
Administrative practice and procedure, Banking, Banks, Blocking of
assets, Currency, Foreign investment in the United States, Iran,
Penalties, Reporting and recordkeeping requirements, Securities.
For the reasons set forth in the preamble, 31 CFR part 535 is
amended as follows:
PART 535--IRANIAN ASSETS CONTROL REGULATIONS
1. The authority citation for Part 535 continues to read as
follows:
Authority: 50 U.S.C. 1701-1706; E.O. 12710, 44 FR 65729, 3 CFR,
1979 Comp., p. 457; E.O. 12205, 45 FR 24099, 3 CFR, 1980 Comp., p. 248;
E.O. 12211, 45 FR 26685, 3 CFR, 1980, Comp., p. 253; E.O. 12276, 46 FR
7913, 3 CFR, 1981 Comp., p. 104; E.O. 12279, 46 FR 7919, 3 CFR 1981
Comp., p. 109; E.O. 12280, 46 FR 7921, 3 CFR 1981 Comp., p. 110; E.O.
12281, 46 FR 7923, 3 CFR, 1981 Comp., p. 112; E.O. 12282, 46 FR 7925, 3
CFR, 1981 Comp., p. 113; E.O. 12282, 46 FR 7927, 3 CFR, 1981 Comp., p.
113; E.O. 12283, 46 FR 7927, 3 CFR 1981 Comp., p. 114; and E.O. 12294,
46 FR 14111, 3 CFR, 1981 Comp., p. 139.
Subpart B--Prohibitions
2. Section 535.217 is amended by revising paragraph (b) to read as
follows:
Sec. 535.201 Blocking of property of the former Shah of Iran and of
certain Iranian nationals.
* * * * *
(b) [No persons presently listed].
* * * * *
Dated: February 1, 1996.
R. Richard Newcomb,
Director, Office of Foreign Assets Control.
Approved: February 8, 1996.
Dennis M. O'Connell,
Acting Deputy Assistant Secretary (Regulatory, Tariff & Law
Enforcement).
[FR Doc. 96-4899 Filed 3-1-96; 8:45 am]
BILLING CODE 4810-25-F
