Full text of District Notices (Federal Reserve Bank of Dallas) : General Ruling No. 4, as Amended

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TREASURY DEPARTMENT
Foreign Funds Control
As Amended September 3, 1943

GENERAL RULING NO. 4, AS AMENDED, UNDER EXECUTIVE ORDER NO. 8389,
AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTIONS 3(a) AND 5(b) OF THE
TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS
ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.*

Except as specifically provided herein or otherwise, all definitions appearing in Exec­
utive Order No. 8389 of April 10, 1940, as amended, and the Regulations issued there­
under, shall apply to the terms employed in all rulings, licenses, instructions, etc., and, in
addition, the following definitions and rules of interpretation are prescribed:
(1) The term “ Order” shall mean Executive Order No. 8389, as amended.
(2) The term “ license” shall mean a license issued under the Order.
(3) The term “ interest” when used with respect to property shall mean an
interest of any nature whatsoever, direct or indirect.
(4) The term “ blocked country” shall mean any foreign country designated in
the Order.
(5) The term “ Netherlands East Indies” shall mean the following: Java and
Madura, Sumatra, Riouw-Lingga archipelago, Banka, Billiton, Celebes, Borneo (West,
South and East Divisions), Timor archipelago, Bali and Lombok, Lesser Sunda Islands
and Dutch New Guinea.
(6) The term “Netherlands West Indies” shall mean the following: Dutch
Guiana, Dutch St. Martin, Curacao, Bonaire, Aruba, St. Eustatius and Saba.
(7) Any person licensed as a “ generally licensed national” shall, while so licensed,
be regarded as a person within the United States who is not a national of any blocked
country; provided, however, that the licensing of any person as a “ generally licensed
national” shall not be deemed to suspend in any way the requirements of the Order
and Regulations relating to reports, and the production of books, documents, records,
etc. (see section 4 of the Order and section 130.4 of the Regulations).
(8) The term “ blocked account” shall mean an account in which any blocked
country or national thereof has an interest, with respect to which account payments,
transfers or withdrawals or other dealings may not be made or effected except pur­
suant to a license authorizing such action. The term “blocked account” shall not be
deemed to include free dollar accounts of the type referred to in General License No.
32, as amended, or the accounts of generally licensed nationals.
(9) The term “ banking institution” shall have the meaning prescribed in Section
5F of the Order.
(10)
The term “ domestic bank” shall mean any branch or office within the United
States of any of the following which is not a national of any blocked country: any
bank or trust company incorporated under the banking laws of the United States or
of any state, territory, or district of the United States, or any private bank or banker
subject to supervision and examination under the banking laws of the United States
or of any state, territory or district of the United States. The Treasury Department
may also authorize any other banking institution to be treated as a “ domestic bank”
for the purpose of this definition or for the purpose of any license, ruling, or instruc­
tion.
* Appendix A : — Sec. 3 ( a ) , 40 Stat. 41 2 ; Sec. 5 ( b ) , 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1 ; 54 Stat. 17 9; 55
Stat. 83 8 ; E x . Order 8389, April 10, 1940, as amended by E x. Order 8785, June 14, 1941, E x. Order 8832,
July 2 6 ,1 9 4 1 , E x. Order 8963, Dec. 9 ,1 9 4 1 , and E x. Order 8998, Dec. 26, 1941; E x. Order 9193, July 6 ,1 9 4 2 ;
Regulations, A pril 10, 1940, as amended June 14, 1941, and July 26, 1941.

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(11) The term “ national securities exchange” shall mean an exchange registered
as a national securities exchange under section 6 of the Securities Exchange Act of
1934 (48 Stat. 885, U.S.C., title 15, sec. 78f).
(12) Reference to any general license or general ruling which has been amended
shall be deemed to refer to such license or ruling as amended.
(13) Any person who by virtue of any definition in the Order is a national of
more than one blocked country shall be deemed to be a national of each of such
blocked countries.
(14) In any case in which a person is a national of two or more blocked countries,
a license with respect to nationals of one of such blocked countries shall not be
deemed to include such person unless a license of equal or greater scope is outstanding
with respect to nationals of each other blocked country of which such person is a
national.
(15) The Secretary of the Treasury reserves the right to exclude from the opera­
tion of any license or from the privileges therein conferred or to restrict the applica­
bility thereof with respect to, particular persons, transactions or property or classes
thereof. Such action shall be binding upon all persons receiving actual notice thereof,
or constructive notice if in any case notice is filed pursuant to the provisions of the
Federal Register Act (49 Stat. 500, as amended by 50 Stat. 304; U.S.C., Sup. V, title
44, sec. 301 et seq.).
(16) No license shall be deemed to authorize any transaction prohibited by reason
of the provisions of any law, proclamation, order or regulation, other than the Order
and Regulations.
(17) Any amendment, modification, or revocation of any order, regulation, ruling,
instruction, or license issued by or under the direction of the Secretary of the Treas­
ury pursuant to sections 3(a) or 5(b) of the Trading with the enemy Act, as-amended,
shall not be deemed to affect any act done or omitted to be done, or any suit or pro­
ceeding had or commenced in any civil or criminal case, prior to such amendment,
modification, or revocation, and all penalties, forfeitures, and liabilities under any
such order, regulation, ruling, instruction, or license shall continue and may be
enforced as if such amendment, modification, or revocation had not been made.
(18) No license or other authorization issued by or under the direction of the
Secretary of the Treasury pursuant to the Order or sections 3(a) or 5(b) of the
Trading with the enemy Act, as amended, shall be deemed to authorize or validate
any transaction effected prior to the issuance thereof, unless such license or other
authorization specifically so provides.
RANDOLPH PAUL
Acting Secretary of the Treasury.

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