Full text of Federal Reserve Bank of New York Circulars : 10511. Haitian Transactions Regulations

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FEDERAL RESERVE BANK
OF NEW YORK
F isc al A g e n t o f th e U n ited S tates

[

Circular No. 10511
January 23, 1992

"I

HAITIAN TRANSACTIONS REGULATIONS
General Licenses Nos. 3, 4, 5, and 6
To All Depository Institutions, and Others
Concerned, in the Second Federal Reserve District:

We were recently notified by the Office of Foreign A ssets Control o f the
D epartm ent o f the Treasury regarding the issuance of four general licenses
(nos. 3, 4, 5, and 6) under the H aitian Transactions Regulations; they are printed
on the following pages. General License No. 3 authorizes the im portation o f certain
machinery, parts, and m aterials; General License No. 4 deals w ith the availability
o f specific licenses for m edicines and medical supplies; General License No. 5 is
on diplomatic pouches; and General License No. 6 concerns the holding o f certain
types of blocked property in interest-bearing accounts.
Questions on these m atters may be directed to the Office o f Foreign Assets
Control, or, at this Bank, to Bradley K. Sabel, Counsel (Tel. No. 212-720-5041).
E.

G

erald

C

o r r ig a n

,

President.

DEPARTM ENT O F THE TR EA SU R Y
WASHINGTON

O F F IC E OF FOREIGN A S S E T S CONTROL
H A I T I A N TRANSACTIONS REGULATIONS
GENERAL L IC E N S E NO.

The
EST,
and

of

im p o rtatio n

in to

Decem ber 5,
used

in clu d in g
The
EST,
p rio r
be

Im p o rtatio n

in

H a iti

spare

from

th e
for
in to

1991,

p .m .,

of

EST,

or processed
th e

U n ited

R . R i c h a r d Newcomb
*
D irecto r
O ffic e of F o reig n A ssets




th e

M ach in ery ,

U n ited

o f m ach in ery

p arts

5,

11:59

assem b led

ex p o rte d

in

im p o rtatio n

Decem ber
to

1991.

C ertain

assem bly
such
th e

or

U n ited
or

leased

p ro cessin g
is

S ta te s

is

C o n tro l

2

11:59

by U .S .

of

p.m . ,
persons

a rtic le s ,

au th o rized .
11:59

ex p o rte d

w hich w ere

goods co n tain in g

S ta tes,

M ateria ls

th ro u g h

m ateria ls
1991,

and

th ro u g h

owned o r

November 5,
in to

P arts

S ta tes

m ach in ery ,

p arts

3

au th o rized .

p a rts

to

p .m .,
H a iti

in ten d ed

to

or m ateria ls

I&SH
DEPARTM ENT O F THE TR EA SU R Y
WASHINGTON

O F F IC E OF FOREIGN A S S E T S CONTROL
H A I T I A N TRANSACTIONS REGULATIONS
GENERAL L IC E N S E NO.
A v a ilab ility
M edicines

S p ecific

licen ses

may b e

co m m ercial sh ip m e n ts to

H a iti

and

No

m ed ical

H a iti,
w ill

or

be

to

su p p lies.
anyone

proposed

ev id en ce

of

th e

a rtic le s

to

be

Issued:

on

a

for

case-by-case

fo r h u m an itarian purp o ses

shipm ents

ac tin g

for

for

sp ec ific

ex p o rta tio n
n atu re,

or

to

th e

on b e h a l f

to

licen ses
H a iti,

q u an tity ,

sh ip p ed .

November

A A ,

1991

R . R i c h a r d Newcomb
D irecto r
O ffic e of F o reig n A sse ts




issu ed

L icen ses
S u p p lies

de

facto

of

th e

de

b asis

for

o f m ed icin e

reg im e
facto

in
reg im e,

licen sed .

A p p licatio n s
of th e

of S p ecific
and M ed ical

4

C o n tro l

3

sho u ld

and sh o u ld

v alu e,

and

be m ade
p ro v id e

purchaser

in

advance

n o tice
of

th e

and

DEPARTM ENT O F THE TR EA SU R Y
WASHINGTON

'^CE33^'




O F F I C E OF FOREIGN A S S E T S CONTROL
H A I T I A N TRANSACTIONS REGULATIONS
GENERAL L IC E N S E NO.
D ip lo m atic

The

im p o rtatio n

ex p o rta tio n
and

th e ir

O ffice

of

in to

th e

from th e U n ite d

co n ten ts

F o reig n

are

U n ited

S ta tes

p erm itted .

A ssets

C o n tro l

4

to

5

Pouches

S ta tes
H a iti,

from

H a iti,

and

th e

of d ip lo m a tic pouches

DEPARTM ENT O F THE TR EA SU R Y
WASHINGTON

O F F IC E OF FOREIGN A S S E T S CONTROL
H A I T I A N TRANSACTIONS REGULATIONS
GENERAL L IC E N S E NO.
H olding

(a)

(1)

cu rren tly

of
in

C e rta in Types of
In terest-B earin g

Any p e r s o n ,

h o ld in g

in clu d in g

p ro p erty

su b ject

No.

12775,

d ated

O cto b er

4,

No.

12779,

d ated

O cto b er

28,

or th e

d ate

b ein g h e ld

of re ceip t
in

if

au th o rized

( MF A C " ) ,

m ust tr a n s f e r

cause
U .S .

such p ro p e rty
fin an cial

o th erw ise

and

any

and any p ro c e e d s
p ro p erty .
w hich

account

th e




th e
p arty

in d icate
in

If

th e

th e

1991,

as

d ate

or

of

o th er

in te re st

is

from

bo th

an

of

th e

by

set

acco u n ts

O rder

of th e

e ffec tiv e

d ate,

e ffe c tiv e

or

d ate

h o ld

of

not

in v ested

in

C o n tro l

such

p ro p erty
statu s

issu an ce

w hichever

sale
to

in

(1),

bank

is

of

or

in

a

th is

la te r,

above,

u n less

sh all

d ep o sits,

of tan g ib le

or

is

h eld ,

m ust

be

th e

b lo c k e d G overnm ent o f H a i t i

th e

sam e

en tity

name
and

in tan g ib le

of

m ust

h av in g

ap p ly

ac co u n ts,

an a c c o u n t s e p a r a te

asset

5

A ssets

is

FAC.

asse ts,

acco u n ts.

d ate,

in terest-b earin g

fo rth

th e

E x ecu tiv e

or o th erw ise

to ,

O rder

1 of

F o reig n

receip t,

cred ited

in terest-b earin g
on

of

in ,

fin an cial

re su ltin g

th e

acco u n t,

d irected

re q u irem en t

as

in stitu tio n ,

1 of E x ecu tiv e

S ectio n

p ro p erty

be h eld

fin an cial

S ectio n

w hich

O ffice

such

or th e

The

currency

to

au th o rized

(2)

or

B lo ck ed P r o p e r ty
A ccounts

U .S .

subsequent to

in stitu tio n

G eneral L icen se,

in

by

to

1991,

an i n t e r e s t - b e a r i n g

a m anner

a

6

an

from

th at

th e
clea rly
in te re st

to




(b)

As u s e d

in

th is

(1)

The

term

"effectiv e

(2)

The

term

"G overnm ent

(i)
ae

facto

agency,

The

reg im e
or

th e

Any p e r s o n

ex ten t

person

is,

p u rp o rtin g

to

fo reg o in g ;

and

th at

O cto b er

4,

H a iti"

in clu d es:

and

G overnm ent

w e ll

th e

as

any

p o litic a l

in clu d in g

th e

1991;.

of

H a iti,

in clu d in g

U .S .

or

act

has

FAC,

to

to

th e

or

Banque

or

th e

person

in clu d ed w ith in

th e

th e

cause

is,

to

effec tiv e

in d irec tly

o th er

by

such p erso n

reaso n ab le

sin ce

co rp o ratio n ,

co n tro lled

ex ten t

is

been,

d ire c tly

be

asso c ia tio n ,

owned

Any

An " i n t e r e s t

fin an cial

co m m ercially
Except
h eld

as

in
(4)

th e

su b d iv isio n ,
de

ia

on

or

or has

b eliev e

of

of

been,
th at

ac tin g
any

o rg a n iz atio n

d efin itio n

o th er

fo reg o in g ;

d ate,

b eh a lf

or

of

or
th e

d eterm in ed

"G overnm ent

H a iti;"
(3)

a

m eans

th ere o f,

th ere

(iv)

of

as

su b sta n tia lly

(iii)

D irecto r,

of

Any p a r t n e r s h i p ,

o rg a n iz atio n

such

H a iti,

d ate"

—

d 'H a iti;

(ii)

to

in

L icen se

state

in stru m en tality

k ep u b iiq u e

or

G eneral

in stitu tio n

reaso n ab le

o th erw ise

in stru m en ts
The

a sso c ia tio n ,

b earin g

term

for

acco u n t"
earn in g

th e

au th o rized ,
th e

m atu rity

"person"

co rp o ratio n ,

or

in tere st

am ount
th e

m eans a b lo c k e d

of

funds

at

funds
may

m eans
o th er

6

an

ra te s
in

not

o f w hich e x c e e d s
in d iv id u a l,

o rg a n iz atio n .

account

th e
be

th at

are

acco u n t.

in v ested

n in ety

in

(90)

or

days.

p artn e rsh ip ,

by

th e

(5)
in clu d in g

The

term

th e

C om m onw ealth

p o ssessio n s,
of

th e

and

U n ited

(6)
person

term

(in clu d in g
in

th e

tran sferrin g ,
or

sellin g

o p tio n s,
or

any

of

th e

th e

U n ited

ag en cies
(c)
not




to

such

and

a ll

th e

and

S ta tes,

te rrito rie s ,
or

au th o rity

such

banks,

forw ard

fo reig n
but

w hich

d ep o sits,

m aking,

g ra n tin g ,

com m odity

com m odity
and

th e

as

in clu d es

tru s t

co m p an ies,

fo reig n

exchange

U .S .

th o se

o p tio n s

clearin g

b en efit

in stitu tio n s

fo reig n

lim itatio n ,

and

or

p lan s,

and

su b sid ia ries

branches,
w h ich a r e

branches,

or

p rin cip al

fu tu res

em ployee

a ffilia te s ,

fin an cial

fu tu res

th ereo f,

exchanges,

is

or p u rch asin g

b u t n o t by way o f

co n tract

The te rm

not

or c re d its,

se lle rs

co m m o d ities

U .S .

U .S .

person)

sav in g s banks,

co m panies,

any

of

o ffic e s,
lo cated

o ffic es,

in

or

in stitu tio n s.

tan g ib le
as

or

m eans

such

lo an s

fo reg o in g ,

and

or

se c u ritie s,

d ea le rs,

co m p an ies,

of

in stitu tio n "

accep tin g

The r e q u ir e m e n ts

ap p ly

orders,

in

in v estm en t

S ta tes,

of

U n ited

ju risd ic tio n

brancnes

purchasers

fo reg o in g .

and a g e n c ie s

th e

R ico

th e

or b ro k erin g

se c u ritie s

h o ld in g

under

exchange,

d ea le rs,

co rp o ratio n s,

of

in stitu tio n s,

brokers

m erch an ts,

P u erto

fo reig n

h o ld in g

In clu d ed

and

m eans

fin an cial

b u sin ess

are d ep o sito ry

brokers

"U .S .

p ro cu rin g

sec u ritie s

of

areas

th e

fo reig n

or

ag e n t.

U .S .

o th er

S ta tes"

S ta tes.

The

engaged

"U n ited

p ro p erty

ch a tte ls,

nor

of

S ectio n

b lo ck ed
does

7

it

(a)

of th is

pursuant
create

an

to

G eneral

th e

L icen se

E x ecu tiv e

affirm ativ e

do




o b lig atio n
p ro p erty

to

a b lo ck ed
p erm ittin g
r.a

cjoo
s

th e

se ll

p art
or

acco u n t.
cr

of

th e

liq u id a te
H ow ever,

d irec tin g

sales

h o ld er
th e

Decem ber

1991

R. R i c h a r d Newcomb
D irecto r
O ffic e of F o reig n A sse ts

of

such

p ro p erty

rAC m a y

12

yj

C o n tro l

8

b lo cked

and p u t th e

issu e

of t a n g i b l e

.

Issued:

T

on

sp e c ific

p ro p erty

in

tan g ib le
proceeds

in

licen se s

appropriate