31 C.F.R. Subpart C—General Definitions
Title 31 - Money and Finance: Treasury
The effective date of the prohibitions and directives contained in subpart B of this part is 12:01 a.m., Eastern Daylight Time, August 20, 1997. For the effective date of pre-existing regulations and directives, see the Executive orders in the Authority citation for this part and implementing regulations. [64 FR 20171, Apr. 26, 1999]
Title 31: Money and Finance: Treasury
PART 560—IRANIAN TRANSACTIONS REGULATIONS
Subpart C—General Definitions
§ 560.301 Effective date.
§ 560.302 [Reserved]
§ 560.303 Iran; Iranian.
The term Iran means the territory of Iran, and any other territory or marine area, including the exclusive economic zone and continental shelf, over which the Government of Iran claims sovereignty, sovereign rights or jurisdiction, provided that the Government of Iran exercises partial or total de facto control over the area or derives a benefit from economic activity in the area pursuant to an international agreement. The term Iranian means pertaining to Iran as defined in this section.
§ 560.304 Government of Iran.
The term Government of Iran includes:
(a) The state and the Government of Iran, as well as any political subdivision, agency, or instrumentality thereof;
(b) Any entity owned or controlled directly or indirectly by the foregoing;
(c) Any person to the extent that such person is, or has been, or to the extent that there is reasonable cause to believe that such person is, or has been, since the applicable effective date, acting or purporting to act directly or indirectly on behalf of any of the foregoing; and
(d) Any person or entity designated by the Secretary of the Treasury as included within paragraphs (a) through (c) of this section.
§ 560.305 Person; entity.
(a) The term person means an individual or entity.
(b) The term entity means a partnership, association, trust, joint venture, corporation or other organization.
§ 560.306 Iranian-origin goods or services; goods or services owned or controlled by the Government of Iran.
(a) The terms goods of Iranian origin and Iranian-origin goods include:
(1) Goods grown, produced, manufactured, extracted, or processed in Iran; and
(2) Goods which have entered into Iranian commerce.
(b) The terms services of Iranian origin and Iranian-origin services include:
(1) Services performed in Iran or by an entity organized under the laws of Iran, or a person residing in Iran; and
(2) Services performed outside Iran by a citizen, national or permanent resident of Iran who is ordinarily resident in Iran, or by an entity organized under the laws of Iran.
(c) The term goods or services owned or controlled by the Government of Iran includes:
(1) Goods grown, produced, manufactured, extracted or processed by the Government of Iran or goods in its possession or control; and
(2) Services performed by the Government of Iran.
(d) The terms services of Iranian-origin, Iranian-origin services, and services owned or controlled by the Government of Iran do not include:
(1) Diplomatic and consular services performed by or on behalf of the Government of Iran;
(2) Diplomatic and consular services performed by or on behalf of the Government of the United States; or
(3) Services performed outside Iran by an Iranian citizen or national who is resident in the United States or a third country, provided such services are not performed by or on behalf of the Government of Iran (other than diplomatic and consular services), an entity organized under the laws of Iran, or a person located in Iran.
[64 FR 20171, Apr. 26, 1999]
§ 560.307 United States.
The term United States means the United States, including its territories and possessions.
§ 560.308 Importation of goods.
With respect to goods (including software), the term importation means the bringing of any goods into the United States, except that in the case of goods transported by vessel, importation means the bringing of any goods into the United States with the intent to unlade them.
[64 FR 20171, Apr. 26, 1999]
§ 560.309 [Reserved]
§ 560.310 License.
Except as otherwise specified, the term license means any license or authorization contained in or issued pursuant to this part.
§ 560.311 General license.
The term general license means any license or authorization the terms of which are set forth in this part.
§ 560.312 Specific license.
The term specific license means any license or authorization not set forth in this part but issued pursuant to this part.
§ 560.313 Entity owned or controlled by the Government of Iran.
The term entity owned or controlled by the Government of Iran includes any corporation, partnership, association, or other entity in which the Government of Iran owns a majority or controlling interest, and any entity which is otherwise controlled by that government.
§ 560.314 United States person.
The term United States person means any United States citizen, permanent resident alien, entity organized under the laws of the United States (including foreign branches), or any person in the United States.
§ 560.315 Information and informational materials.
(a) The term information and informational materials includes:
(1) Publications, films, posters, phonograph records, photographs, microfilms, microfiche, tapes, compact disks, CD ROMs, artworks, and news wire feeds.
(2) To be considered information or informational materials, artworks must be classified under chapter subheading 9701, 9702, or 9703 of the Harmonized Tariff Schedule of the United States.
(b) The term information and informational materials, with respect to exports, does not include items:
(1) That were, as of April 30, 1994, or that thereafter become, controlled for export pursuant to section 5 of the Export Administration Act of 1979 (50 U.S.C. App. 2401-2420, the “EAA”), or section 6 of the EAA to the extent that such controls promote the nonproliferation or antiterrorism policies of the United States; or
(2) With respect to which acts are prohibited by 18 U.S.C. chapter 37.
[60 FR 47063, Sept. 11, 1995, as amended at 64 FR 20171, Apr. 26, 1999]
§ 560.316 New investment.
The term new investment means a transaction after 12:01 EDT, May 7, 1995, that constitutes:
(a) A commitment or contribution of funds or other assets; or
(b) A loan or other extension of credit, as defined in §560.317.
§ 560.317 Credits or loans.
The term credits or loans means any transfer or extension of funds or credit on the basis of an obligation to repay, or any assumption or guarantee of the obligation of another to repay an extension of funds or credit, including but not limited to: overdrafts; currency swaps; purchases of debt securities issued by the Government of Iran; purchases of a loan made by another person; sales of financial assets subject to an agreement to repurchase; renewals or refinancings whereby funds or credits are transferred to or extended to a prohibited borrower or prohibited recipient; the issuance of standby letters of credit; and drawdowns on existing lines of credit.
§ 560.318 [Reserved]
§ 560.319 United States depository institution.
The term United States depository institution means any entity (including its foreign branches) organized under the laws of any jurisdiction within the United States, or any agency, office or branch located in the United States of a foreign entity, that is engaged primarily in the business of banking (for example, banks, savings banks, savings associations, credit unions, trust companies and United States bank holding companies).
[64 FR 20171, Apr. 26, 1999]
§ 560.320 Iranian accounts.
The term Iranian accounts means accounts of persons located in Iran or of the Government of Iran maintained on the books of either a United States depository institution or a United States registered broker or dealer in securities.
[70 FR 15584, Mar. 28, 2005]
§ 560.321 United States registered broker or dealer in securities.
The term United States registered broker or dealer in securities means any U.S. citizen, permanent resident alien, or entity organized under the laws of the United States or of any jurisdiction within the United States, including its foreign branches, or any agency, office or branch of a foreign entity located in the United States, that:
(a) Is a “broker” or “dealer” in securities within the meanings set forth in the Securities Exchange Act of 1934;
(b) Holds or clears customer accounts; and
(c) Is registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934.
[70 FR 15584, Mar. 28, 2005]
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