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F ederal reserve Bank DALLAS, TEXAS of Dallas 75222 Circular No. 80-84 April 30, 1980 IRANIAN ASSETS CONTROL REGULATIONS TO ALL MEMBER BANKS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: Enclosed is an amendment to the Treasury Departm ent's Iranian Assets Control Regulations. The purpose of the amendments, which is effective April 17, 1980, is to impose additional prohibitions on dealings with Iran. Sincerely yours, Robert H. Boykin First Vice President Enclosure This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) 26940 Federal Register / Vol. 45, No. 78 / Monday, April 21,1980 / Rules and Regulations DEPARTMENT OF TREASURY Office of Foreign Assets Control 31 CFR Part 535 Iranian Assets Control Regulations; Additional Prohibitions agency: O ffice o f F oreign A ss e ts C ontrol, D e p a rtm e n t o f th e T reasu ry . a c tio n : F in al rule. Summary: T h e O ffice o f F o reign A s s e ts C o n tro l is am e n d in g th e Ira n ia n A sse ts C on trol R eg u latio n s. T h e p u rp o se o f th e a m e n d m e n t is to im p o se a d d itio n a l p ro h ib itio n s o n d e alin g s w ith Iran . T h e n e e d fo r th e a m e n d m e n t is to im p lem en t th e p ro v isio n s o f E x ecu tiv e O rd e r No. 12211, sig n ed b y th e P re s id e n t o n A p ril 17,1980. T h e effect o f th e a m e n d m e n t is th a t im p o rts o f g o o d s from Ira n o r of Ira n ia n origin m e rc h a n d is e a re p ro h ib ite d ; th a t p a y m e n ts o r tra n s fe rs o f fu n d s o r o th e r p ro p e rty to a n y p e rs o n in Ira n a re p ro h ib ite d ; a n d th a t p a y m e n ts a n d tra n s a c tio n s in s u p p o rt o f tra v e l to a n d m a in te n a n c e w ith in Ira n o f U.S. citiz en s a n d U.S. p e rm a n e n t re s id e n t a lie n s a re p ro h ib ite d . EFFECTIVE DATE: A p ril 17, 1980. FOR FURTHER INFORMATION CONTACT: D en n is M. O ’C onnell, C h ief C ounsel, O ffice of F o reig n A ss e ts C ontrol, D e p a rtm e n t o f th e T re asu ry , W ash in g to n , D.C. 20220, T el. 202/376 0236. SUPPLEMENTARY INFORMATION: Since th e reg u latio n s in v o lv e a foreign a ffairs fu n ctio n , th e p ro v isio n s o f th e A d m in istra tiv e P ro c e d u re A ct, 5 U.S.C. 553, req u irin g n o tic e o f p ro p o s e d rule m aking, o p p o rtu n ity fo r p ub lic p a rtic ip a tio n a n d d e la y in effectiv e d a te a re in a p p lic ab le. T he p ro h ib itio n se t fo rth in n e w § 535.209 o n p a y m e n ts a n d tra n s a c tio n s in su p p o rt o f tra v e l to a n d m a in te n a n c e w ith in Ira n b y U.S. citiz e n s a n d p e rm a n e n t re s id e n t a lie n s d o e s n o t a p p ly to U.S. c itiz en s o r p e rm a n e n t re s id e n t a lie n s w h o a re a lso c itiz en s of Iran . P a ra g ra p h (a) o f n e w § 535.562 a u th o riz e s im p o rts of n e w s m a te ria l b y n e w sg a th e rin g ag en cies, n o tw ith sta n d in g th e p ro h ib itio n s on im p o rts in § 535.204. P a ra g ra p h (b) o f $ 535.562 a u th o riz e s tra n s a c tio n s in co n n e c tio n w ith n e w sg a th e rin g a c tiv itie s o f jo u rn a lists a n d n e w s c o rre sp o n d e n ts , n o tw ith sta n d in g th e tra v e l a n d m a in te n a n c e p a y m e n t re s tric tio n s o f § 535.209 a n d th e im po rt re s tric tio n s o f § 535.204 a n d th e p ro h ib itio n s in § 535.201 o n p a y m e n ts or o th e r tra n s fe rs o f p ro p e rty in w h ic h Ira n o r a n Ira n ia n e n tity h a s a n in te re s t. In a d d itio n , n e w § 535.563 a u th o riz e s re m itta n c e s to a n y clo se re la tiv e w h o is a citiz en o f Ira n a n d w h o is a re s id e n t of a n d w ith in Ira n n o tw ith sta n d in g th e n e w p ro h ib itio n o n th e p a y m e n t o r tra n s fe r o f a n y fu n d s o r o th e r p ro p e rty to a n y p e rs o n in Iran . T h e p ro h ib itio n s do n o t affect re m itta n c e s from Iran . T h e n e w p ro h ib itio n s o n p a y m e n ts or o th e r fin a n c ia l tra n s fe rs in § 535.206(a)(4) b a r s a n y w ith d ra w a l from , o r d e b it to, a n a c c o u n t w ith in the U n ite d S ta te s b y a p e rs o n in Ira n fo r p u rp o s e s o f a n y tra n s fe r to a n y p e rs o n in Iran. H o w e v e r, su ch a n a c c o u n t is n o t a b lo c k e d a c c o u n t a n d m a y b e u s e d fo r p a y m e n ts o r tra n s fe rs w ith in th e U n ite d S ta tes. 31 CFR, P a rt 535 is a m e n d e d a s follow s: 1. § 535.204 is a d d e d a s follow s: § 535.204 Imports from Iran or Iranian merchandise. E x c e p t a s sp ecifically a u th o riz e d b y th e S e c re ta ry o f th e T re a s u ry (or b y a n y p e rs o n , agen cy, o r in s tru m e n ta lity d e s ig n a te d b y him ) b y m e a n s o f re g u latio n s, rulings, in stru c tio n s, lice n ses, o r o th e rw ise , n o m e rc h a n d is e , o th e r g o o d s o r se rv ic e s o f Ira n ia n origin m a y b e im p o rte d into th e U n ite d S ta te s if s u ch m e rc h a n d is e o r g o o d s a r e o r h a v e b e e n lo c a te d in o r tr a n s p o rte d from o r th ro u g h Ira n a fte r th e effectiv e d a te o f th is sectio n . 2. § 535.206 is a m e n d e d b y th e a d d itio n o f p a ra g ra p h (a)(4) a s follow s: § 535.206 Financial transactions. (a) * * * (4) M a k e a n y p a y m e n t, tra n s fe r o f cred it, o r o th e r tr a n s fe r o f fu n d s o r o th e r p ro p e rty o r in te re s ts th e re in to a n y p e rs o n in Iran . * * * * * 3. § 535.208 is a m e n d e d b y th e a d d itio n o f p a ra g ra p h (c) a s follow s: § 535.208 Evasions; effective date. * * * * * (c) W ith re s p e c t to a n y a m e n d m e n ts o f th e foregoing se c tio n s o r a n y o th e r am e n d m e n ts to th is p a rt th e te rm "effectiv e d a te ” sh a ll m e a n th e d a te of filing w ith th e F e d e ra l R egister. 4. § 535.209 is a d d e d a s follow s: S 535.209 Transactions Incident to travel and maintenance of U.S. nationals In Iran prohibited. (a) T h e follo w ing a c tio n s b y p e rs o n s s u b je c t to th e ju risd ic tio n o f th e U n ite d S ta te s a re p ro h ib ited : (1) A n y d ire c t o r in d ire c t p a y m e n t o r tr a n s a c tio n (including a n y tra n sfe r, o th e r d e a lin g in, o r u s e o f p ro p e rty ) e ith e r to, by, o n b e h a lf of, o r o th e r o th e rw is e involving, a n y fo reig n c o u n try o r a n y n a tio n a l th ereo f, w h ic h is in c id e n t to tra v e l to, o r tra v e l or m a in te n a n c e w ith in Ira n o f an y in d iv id u a l w h o is a U.S. c itiz en o r U.S. p e rm a n e n t re s id e n t alien. (b) T h e p ro h ib itio n s o f p a ra g ra p h (a) o f th is s e c tio n do n o t ap p ly to tra n s a c tio n s in c id e n t to tra v e l or m a in te n a n c e w ith in Ira n o f in d iv id u a ls w h o a re citiz e n s of Iran . (c) T h e effectiv e d a te of this p ro h ib itio n , a s it re la te s to p a y m e n ts b y o r fo r th e b e n e fit o f U.S. c itiz e n s o r U .S. p e rm a n e n t re s id e n t a lie n s in Ira n is A p ril 24,1980. 5. § 535.562 is a d d e d a s follow s: $535,562 News material. (a) Imports by newsgathering agencies. T h e p u rc h a s e a n d im p o rta tio n o f Ir a n ia n origin n e w s p a p e rs , m a g a z in e s, p h o to g ra p h s, film s, ta p es, a n d o th e r n e w s m a te ria l o r c op ies th e re o f b y n e w sg a th e rin g ag e n c ie s in th e U n ite d S ta te s a re au th o rized , w ith o u t re s tric tio n a s to m e th o d of p a y m e n t, p ro v id e d su ch m a te ria ls a re in te n d e d fo r u s e in n e w s p u b lic a tio n or n e w s b ro a d c a s t d issem in atio n : (b) Newsgathering activities in Iran by journalists and news correspondents. T h e fo llow ing tra n s a c tio n s b y a jo u rn a list o r o th e r p e rs o n w h o is reg u larly e m p lo y e d b y a n e w sg a th e rin g o r tra n sm ittin g o rg a n iz a tio n w h o tra v e ls to Ira n o r is w ith in Ira n fo r th e p u rp o se s o f g a th e rin g o r tran sm ittin g n ew s, film ing n e w s o r m ak in g d o c u m e n ta ry film s, o r sim ila r a c tiv itie s a re a u th o rized : (1) P a y m e n t o f e x p e n s e s fo r tra v e l to, a n d m a in te n a n c e w ith in , Ira n fo r th e p u rp o s e s o f g ath e rin g a n d tra n sm ittin g n e w s to th e U n ite d S tate s; a n d (2) T h e a c q u isitio n in Ira n for tra n s m is s io n to a n d im p o rta tio n in to thfe U n ite d S ta te s o f n e w s p a p e rs, m a g azin es, p h o to g rap h s, film s, ta p es, a n d o th e r n e w s m a te ria l o r c o p ies th e reo f, n e c e s s a ry fo r th e jo u rn a listic a ssig n m e n ts. (3) W ith in 5 d a y s a fte r engaging in th e in itia l tr a n s a c tio n w ith re s p e c t to a trip to or s ta y w ith in Ira n c o v e re d b y th is p a ra g ra p h , th e p e rs o n engaging in th e tra n s a c tio n , o r the o rg a n iz a tio n by w h ic h su ch p e rs o n is em p lo y ed , sh a ll n o tify th e O ffice o f F oreign A ss e ts C o ntrol. T h e n o tific a tio n sh a ll in c lu d e th e n a m e o f th e p e rs o n u p o n w h o se b e h a lf th e g e n e ra l lic e n se is b e in g u sed . W ith in 5 d a y s a fte r h is d e p a rtu re from Iran , a n y p e rs o n utilizing d ie g e n e ra l lic e n se sh a ll s e n d a s e c o n d n o tific atio n to th e O ffice o f F o reig n A s s e ts C o ntro l th a t h e h a s d e p a r te d Iran . 6. § 535.563 is a d d e d a s follow s: Federal Register / Vol. 45, No. 78 / Monday, April 21.1980 / Rules and Regulations } 53S.563 Family remittances to Iran. (a) R e m itta n c e s to a n y clo se re la tiv e o f th e re m itte r o r o f th e re m itte r’s sp o u se , w h o is a c itiz e n o f Ira n a n d w ho is a re s id e n t o f a n d w ith in Iran , a re a u th o riz e d p ro v id e d th e y d o n o t inv olv e a n y d e b it to a b lo c k e d a c c o u n t a n d are fo r th e su p p o rt o f th e p a y e e a n d m e m b e rs o f h is h o u seh o ld . (b) T h e te rm “clo se re la tiv e ” u s e d w ith re s p e c t to a n y p e rs o n m e a n s sp o u se , child, g ra n d ch ild , p a re n t, g ra n d p a re n t, u n cle, au n t, b ro th e r, sister, n e p h e w , n eice, o r sp o u se , w id o w , w id o w e r o f a n y o f th e foregoing. (c) T h e te rm “m e m b e r o f a h o u s e h o ld ” u s e d w ith re s p e c t to a n y p e rs o n m e a n s a clo se re la tiv e sh a rin g a co m m on d w ellin g w ith su c h p erso n . Authority: Sec. 201-207, 91 Stat. 1626, 50 U.S.C. 1701-1706; E.O. No. 12170,44 FR 65729, E.O. No. 12205,45 FR 24099; E.O. No. 12211, 45 FR 26685. Dated: A pril 17,1980. Stanley L. Sommerfield, Director. Approved: Richard J. Davis, Assistant Secretary. [FR Doc. 80-12384 Filed 4-18-80:10:18 am] BILLINGCODE 4410-2S-M 26941
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