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FEDERAL RESERVE BANK OF [NEW YORiX [ Circular No. 10166 1 May 4, 1987 Prohibition Against Holding Deposit Accounts off the South African Government or Related Entities To All M em ber Banks, and Others Concerned, in the Second Federal Reserve District: The Office of Foreign Assets Control of the Treasury Department has asked us to advise you that under Section 545.209 of the South African Transactions Regulations, 31 C.F.R. Part 545 (“the Regulations”), published in the Federal Register at 51 Fed. Reg. 46854 (December 29, 1986), a United States depository institution may not accept, receive, or hold a deposit account from the South African Government (“SAG”) or from any agency or entity owned or controlled by the SAG, except for such accounts as may be authorized pursuant to specific license for diplomatic or consular purposes. A U.S. depository institution is defined under the Regulations as a depository institution lo cated in the United States and includes a depository institution as defined in section 19(b)(1) of the Federal Reserve Act, 12 U.S.C. 461(b)(1). It does not include the foreign branches of a depository institution organized in the U.S., or the parents, subsidiaries, branches, or offices located outside the U.S. of a depository institution organized under foreign law. The Department of State has compiled a list of agencies or entities owned or controlled by the SAG, which is printed on the following pages. This list will be revised periodically. Information on revisions may be obtained by contacting Eric Benjaminson, Office of Southern African Affairs (202) 647-8433, or Lynda Clarizio, Office of the Legal Advisor (202) 647-4110, at the Department of State, Washington, D.C. Those U.S. depository institutions that hold accounts for the SAG, or agencies owned or controlled by the SAG, or that are uncertain of the status of particular accounts under the Regula tions and that have not already been in contact with the Office of Foreign Assets Control, should immediately contact Cheryl Opacinch, Chief of Licensing, (202) 376-0236, at the Office of Foreign Assets Control, Room 400, 1331 G Street, N.W., Washington, D.C. E. G erald C o rrig an , President. ENTITIES OWNED OR CONTROLLED BY THE SOUTH AFRICAN GOVERNMENT Agricultural Control Boards Banana Board Canning Fruit Board Chicory Board Citrus Board Cotton Board Dairy Board Deciduous Fruit Board Dried Fruit Board Egg Board Lucerne Seed Board Maize Board Meat Board Mohair Board Oilseeds Board Potato, Dried Bean & Grain Sorghum Board Rooisbos Tea Board South African Karakul Board South W est African Karakul Board (Namibia) Tobacco Board Wheat Board Wool Board Agricultural Corp. of Venda Agricultural Development Corp. of Bophuthatswana Altana (Pty) Ltd. Aluminum Investment Co. (Pty) Ltd. Aluminum Co. of South Africa (Pty) Ltd. (Alusaf) Alustang (Pty) Ltd. Richigata (Pty) Ltd. Alzira Financial (Pty) Ltd. Armaments Corp. of South Africa (Pty) Ltd. (Armscor) Atlas Aircraft Ltd. Eloptro (Pty) Ltd. Emani Property (Pty) Ltd. Infloplan Ltd. Kentron (Pty) Ltd. Konchem (Pty) Ltd. Lyttleton Engineering Works Ltd. Musgrove (Pty) Ltd. Naschem (Pty) Ltd. Pretoria Metal Pressings (Pty) Ltd. Sonchem (Pty) Ltd. Swartklip Products (Pty) Ltd. Atlantis Diesel Engines (Pty) Ltd. ADE Behuisings (Pty) Ltd. Adepart (Pty) Ltd. Atlantis Aluminum (Pty) Ltd. Atlantis Foundries (Pty) Ltd. Finasco (Pty) Ltd. Atomic Energy Corp. of South Africa Ltd. Bophuthatswana National Development Corp. Bophuthatswana Transport Holdings Fish Hoek Hotel (Pty) Ltd. Mankue Enterprises (Pty) Ltd. Heystekrand Furniture Factory (Pty) Ltd. T.A .B. Bophuthatswana Central Energy Fund (Pty) Ltd. Ciskei Agricultural Corp. Tainton Pineapple Estate Ciskei People’s Development Bank CTC Bus Company Indwe Commercial Enterprises (Pty) Ltd. Ciskei Small Business Corp. Commission for Fresh Produce Markets Community Development Fund Corporation for Public Deposits Council for Mineral Technology (MINTEK) Council for Scientific and Industrial Research South African Inventions Development Corp. Department of Posts and Telecommunications Deposit Fund for Housing Development Bank of Southern Africa Duntex Property (Pty) Ltd. ESCOM (formerly Electricity Supply Commission) Export Finance Development Corp. First National Development Corp. of South W est Africa Melkor (Pty) Ltd. Okatana Vulstasie (Pty) Ltd. Windhoek W ild (Pty) Ltd. Government M otor Transport and Trading Account Government of the Republic of South Africa Government Printing Works Guardians’ Funds Hooggenoeg Marketing (Pty) Ltd. Human Sciences Research Council Industrial Development Corp. of South Africa Ltd. (IDC) Industrial Selections Konoil (Pty) Ltd. National Selections Industrial Minerals Development Co. (Pty) Ltd. International Karakul Secretariat KaNgwane Economic Development Corp. Ltd. Kindoc Investments (Pty) Ltd. Konbel (Pty) Ltd. KwaNdebele Development Corp. Ltd. KwaZulu Finance and Investment Corp. Ltd. Bambisanani Nongoma (Pty) Ltd. Intaba Motors Ltd. Isithebe Malt Factory (Pty) Ltd. KwaZulu Finance (Pty) Ltd. KwaZulu Garment Industries Ltd. KwaZulu Housing Company (Pty) Ltd. KwaZulu News Agency Ltd. KwaZulu Truck and Bus Ltd. Zululand Furniture Factory (Pty) Ltd. Land and Agricultural Bank of South Africa (Landbank) Land and Agricultural Bank of South W est Africa Lebowa Development Corp. Ltd. Dilokong Chrome Mine (Pty) Ltd. Lebowa Transport Company Light Metals Investment Co. (Pty) Ltd. Marmain (Pty) Ltd. Mavaco (Pty) Ltd. Motor Vehicle Assurance Fund Nabucco Investments (Pty) Ltd. National Building and Investment Corp. (South W est Africa) National Marketing Board National Parks Board of Trustees National Road Fund National Supplies Procurement Fund Navik (Pty) Ltd. Oostra Inmakers (Pty) Ltd. (Eastern Packers) Phosphate Development Corp. (Pty) Ltd. (Foskor) Foskem (Pty) Ltd. Palafos (Pty) Ltd. Post Office Savings Bank Public Investment Commissioners QwaQwa Agricultural Co. Ltd. QwaQwa Development Corp. Ltd. Rehoboth Finance and Development Corp. Ltd. Reinsurance Fund for Export Credit and Foreign Investment Regional Water Service Corporations Rosamond Properties (Pty) Ltd. Rustenberg Industrial Finance (Pty) Ltd. Saldok (Pty) Ltd. Sapekoe (Pty) Ltd. Sapekoe Ngome Landgoed (Pty) Ltd. Sapekoe Richmond Landgoed (Pty) Ltd. Sapekoe Sales (Pty) Ltd. Sasol Three (Pty) Ltd. March 19, 1987 Satchem (Pty) Ltd. Shangaan/Tsonga Development Corp. Ltd. Fumani Gold Mining Co. (Pty) Ltd. Small Business Development Corp. South African Abattoir Corp. South African Abattoir Commission South African Banknote Co. (Pty) Ltd. South African Broadcasting Corp. (SABC) South African Bureau of Standards (SABS) South African Development Trust South African Development Trust Corp. Ltd. South African Gas Distribution Corp. Ltd. Union Steel Corporation of South Africa Ltd. Usco Aluminum Systems (Pty) Ltd. Usco Huiseienaars (Pty) Ltd. Usco Kabelmaatskappy (Pty) Ltd. Veldmaster (Pty) Ltd. Veldmaster Incorporated (U.S.) Urban Transport Fund Venda Development Corp. Ltd. Aidec Venda (Pty) Ltd. N .T.K. Venda (Pty) Ltd. Thusani Stone Crushers (Pty) Ltd. Venbor (Pty) Ltd. Vhavenda Brickworks (Pty) Ltd. Virema (Pty) Ltd. W ater Boards (all South African W ater Boards) W ater Research Commission
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