31 C.F.R. PART 505—REGULATIONS PROHIBITING TRANSACTIONS INVOLVING THE SHIPMENT OF CERTAIN MERCHANDISE BETWEEN FOREIGN COUNTRIES
Title 31 - Money and Finance: Treasury
Authority: 31 U.S.C. 321(b); 50 U.S.C. App. 1–44; Pub. L. 101–410, 104 Stat. 890 (28 U.S.C. 2461 note); E.O. 9193, 7 FR 5205, 3 CFR, 1938–1943 Comp., p. 1174; E.O. 9989, 13 FR 4891, 3 CFR, 1943–1948 Comp., p. 748.
Source: 18 FR 4291, July 23, 1953, unless otherwise noted.
The regulations in this part may be referred to as the Transaction Control Regulations. [19 FR 5483, Aug. 27, 1954] Except as specifically authorized by the Secretary of the Treasury (or any person, agency, or instrumentality designated by him) by means of regulations, rulings, instructions, licenses, or otherwise, no person within the United States, for his own account or that of another, may purchase or sell or arrange the purchase or sale of any merchandise in any foreign country or obtain from any banking institution a credit or payment in connection therewith, or attempt to do any of the foregoing, if: (a) The transaction involves the shipment from any foreign country of any merchandise directly or indirectly to any destination within a country on the attached schedule, and (b) The merchandise is of a type the unauthorized exportation of which from the United States is prohibited by regulations issued under the Arms Export Control Act of 1976, 22 U.S.C. 2778, or the Atomic Energy Act of 1954, 42 U.S.C. 2011–2297g–4, or successor acts restricting the esportation of strategic goods. Schedule
Albania Bulgaria Cambodia The Czech Republic Estonia Latvia Lithuania North Korea Mongolia People's Republic of China Poland Romania The Slovak Republic The geographic area formerly known as the Union of Soviet Socialist Republics Vietnam [30 FR 1284, Feb. 6, 1965, as amended at 50 FR 27437, July 3, 1985; 56 FR 45895, Sept. 9, 1991; 58 FR 13198, Mar. 10, 1993; 60 FR 34144, June 30, 1995] The definitions contained in subpart C, part 500 of this chapter are applicable to any terms therein defined which are used in this part. [19 FR 5483, Aug. 27, 1954] No regulation, ruling, instruction or license authorizes a transaction prohibited by §505.10 unless the regulation, ruling, instruction or license is issued by the Treasury Department and specifically refers to that section. For provisions relating to licensing procedures, see part 501, subpart E, of this chapter. Licensing actions taken pursuant to part 501 of this chapter with respect to the prohibitions contained in this part are considered actions taken pursuant to this part. [18 FR 4291, July 23, 1953, as amended at 68 FR 53657, Sept. 11, 2003] (a) Except as provided in paragraph (b) of this section, all transactions prohibited by §505.10 are hereby authorized provided: (1) Shipment is to a country listed in the schedule to §505.10, other than North Korea; and (2) Shipment is made from and licensed by one of the following foreign countries: Australia, Austria, Belgium, Canada, Denmark, France, Finland, Germany, Greece, Hong Kong, Ireland, Italy, Japan, Luxembourg, The Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, or the United Kingdom. (b) This section does not authorize any transactions otherwise prohibited by this chapter. [37 FR 3520, Feb. 17, 1972, as amended at 41 FR 16557, Apr. 20, 1976; 56 FR 45895, Sept. 9, 1991; 58 FR 13198, Mar. 10, 1993] For provisions relating to records and reports, see §§501.601 and 501.602 of this chapter. [18 FR 4291, July 23, 1953, as amended at 62 FR 45106, Aug. 25, 1997] For provisions relating to penalties, see part 501, subpart D, of this chapter. [63 FR 10331, Mar. 3, 1998, as amended at 68 FR 53657, Sept. 11, 2003] For license application procedures and procedures relating to amendments, modifications, or revocations of licenses; administrative decisions; rulemaking; and requests for documents pursuant to the Freedom of Information and Privacy Acts (5 U.S.C. 552 and 552a), see part 501, subpart E, of this chapter. [62 FR 45106, Aug. 25, 1997, as amended at 68 FR 53657, Sept. 11, 2003]
Title 31: Money and Finance: Treasury
PART 505—REGULATIONS PROHIBITING TRANSACTIONS INVOLVING THE SHIPMENT OF CERTAIN MERCHANDISE BETWEEN FOREIGN COUNTRIES
Section Contents
§ 505.01 Short title.
§ 505.10 Prohibitions.
§ 505.20 Definitions.
§ 505.30 Licenses.
§ 505.31 General license for offshore transactions from certain countries.
§ 505.40 Records and reports.
§ 505.50 Penalties.
§ 505.60 Procedures.
§ 505.01 Short title.
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§ 505.10 Prohibitions.
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§ 505.20 Definitions.
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§ 505.30 Licenses.
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§ 505.31 General license for offshore transactions from certain countries.
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§ 505.40 Records and reports.
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§ 505.50 Penalties.
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§ 505.60 Procedures.
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