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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent o f the United States
ATSeptember 14, 1993
HAITIAN TRANSACTIONS REGULATIONS
Suspension of Certain Trade Restrictions
To All Banks, and Others Concerned,
in the Second Federal Reserve District:
Printed on the reverse side of this letter is an excerpt from the Federal Register
of September 2 amending the Haitian Transactions Regulations (31 CFR Part 580),
issued by the Office of Foreign Assets Control of the Department of the Treasury
(“OFAC”). As indicated in the notice, (a) restrictions have been suspended on
certain transactions with Haiti that arise after August 31, 1993, (b) property of the
Government of Haiti that was blocked as of August 31, 1993 remains blocked, and
(c) all blocked property of the Banque de V Union Haitienne, and of all individuals
listed in Section I of Appendix A to the Regulations, is unblocked.
Questions regarding this notice should be directed to OFAC (Tel. No.
202-622-2420).
G e o r g e W. R y a n ,
Vice President.
(OVER)
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 580
Haitian Transactions Regulations
Office of Foreign Assets
Control, Treasury.
ACTION: Final Rule; amendment.
AGENCY:
SUMMARY: Consistent with United
Nations Security Council Resolution
861 of August 27,1993, and the August
27,1993 announcement of the Secretary
General of the Organization of American
States, the Treasury Department is
amending the Haitian Transactions
Regulations to suspend U.S. sanctions
against Haiti. The rule prospectively
suspends trade restrictions against Haiti
and authorizes new financial and other
transactions with the Government of
Haiti. It does not unblock property of
the Government of Haiti that was
blocked on or before August 31,1993 at
9:35 a.m., e.d.t., nor does it affect
enforcement actions involving prior
violations of the Regulations. Blocked
property of the Government of Haiti will
be unblocked by specific license on a
case-by-case basis. However, all blocked
property of the Banque de l’Union
Haitienne, and of all individuals
previously listed in Appendix A to the
Regulations, is unblocked.
EFFECTIVE DATE: August 31,1993 at 9:35
a.m.. e.d.t.
FOR FURTHER INFORMATION CONTACT: John
T. Roth, Chief of Policy Programming
(tel: 202/622-2500), Steven I. Pinter,
Chief of Licensing (tel.: 202/622—2480),
or William B. Hoffman, Chief Counsel
(tel.: 202/622-2410), Office of Foreign
Assets Control, Department of the
Treasury, Washington, DC 20220.
SUPPLEMENTARY INFORMATION: The
Haitian Transactions Regulations, 31
CFR Part 580 (the “Regulations”), were
issued by the Treasury Department to
implement Executive Order Nos. 12775
(56 FR 50641, October 7,1991) and
12779 (56 FR 55975, October 30,1991),
declaring a national emergency with
respect to Haiti under the authority,
in ter alia, of the International
Emergency Economic Powers Act (50
U. S.C. 1701 et seq .), and ordering
specific measures against the d e fa cto
regime in Haiti.
Consistent with United Nations
Security Council Resolution 861 of
August 27,1993, and the August 27,
1993 announcement of the Secretary
General of the Organization of American
States, the Office of Foreign Assets
Control ("FAC”) is amending the
Regulations to add § 580.518,
authorizing trade transactions with Haiti
and transactions involving property in
which the Government of Haiti has an
interest, where those transactions arise
after August 31,1993. The effect of this
amendment is that transactions
involving property interests of the
Government of Haiti that come within
the United States or into the possession
or control of United States persons after
August 31,1993, or in which an interest
of the Government of Haiti arises
thereafter, are no longer prohibited.
Newly authorized transactions include,
but are not limited to, otherwise lawful
exportations to and importations from
Haiti, brokering transactions, and
transfers of funds to the Government of
Haiti for obligations due and payable
after August 31,1993.
Section 580.518 further provides that
property of the Government of Haiti
blocked as of August 31,1993, remains
blocked. Such property will be
unblocked by specific license on a caseby-case basis. All previously blocked
property of the following, however, is
unblocked: (1) All individuals
previously listed in Section I of
Appendix A to Part 580; and (2) Banque
de L’Union Haitienne, S.A.
Treasury is also amending Appendix
A to this part to remove all individuals
and one private entity from the list of
blocked persons of the d e fa cto regime
in Haiti.
Because the Regulations involve a
foreign affairs function, Executive Order
12291 and the provisions of the
Administrative Procedure Act, 5 U.S.C.
553, requiring notice of proposed
rulemaking, opportunity for public
participation, and delay in effective
date, are inapplicable. Because no
notice of proposed rulemaking is
required for this rule, the Regulatory
Flexibility Act, 5 U.S.C. 601 e t seq.,
does not apply.
List of Subjects in 31 CFR Part 580
Blocking of assets, Exports, Haiti,
Imports, Specially designated nationals,
Transfers of assets.
For the reasons set forth in the
preamble, 31 CFR part 580 is amended
as set forth below:
PART 580— HAITIAN TRANSACTIONS
REGULATIONS
1.
The authority citation for part 580
continues to read as follows:
Authority: 50 U .S.C 1701 et seq.-, 22 U.S.C
287c; E.O. 12775, 56 FR 50641, 3 CFR, 1991
Comp., p. 349: E . 0 . 12779, 56 FR 55975, 3
CFR, 1991 Comp., p. 367; E.O. 12853, 58 FR
35843, July 2, 1993.
Subpart E— Licenses, Authorizations,
and Statements of Licensing Policy
2. Section 580.518 is added to subpart
E to read as follows:
§ 580.518 Authorization of new
transactions; suspension of certain
prohibitions.
(a) Except as provided in paragraph
(b) of this section, the prohibitions
contained in §§ 580.201, 580.202,
580.204, 580.205, 580.206, 580.208, and
580.211 do not apply to any transaction
occurring after August 31,1993 at 9:35
a.m., e.d.t.
(b) Unless otherwise authorized by
the Office of Foreign Assets Control, all
property and interests in property of the
Government of Haiti that were blocked
on or before August 31,1993 at 9:35
a.m., e.d.t., remain blocked.
(c) All property and interests in
property of the following are unblocked:
(1) All individuals previously listed
in Section I of Appendix A to this part
— “Blocked Individuals of the De Facto
Regime in Haiti”; and
(2) Banque de l’Union Haitienne, S.A.
Appendix A to Part 580—Blocked
Persons of the De Facto Regime in Haiti
3. Section I of Appendix A to Part
580—“Blocked Individuals of the De
Facto Regime in Haiti”—is removed and
reserved.
4. Section II of Appendix A to Part
580—“Blocked Entities of the De Facto
Regime in Haiti”—is amended to
remove the entry “Banque de l’Union
Haitienne, S.A. (a.k.a. BUH), Angle rues
Du Quae et Bonne Foi, Boite Postale
275, Port-au-Prince, Haiti.”
Dated: August 3 0 ,1 9 9 3 .
R. Richard Newcomb,
Director, O ffice o f Foreign Assets Control.
Approved: August 3 0 ,1 9 9 3 .
Ronald K. Noble,
Assistant Secretary f o r Enforcement.
[FR Doc. 9 3 -2 1 5 3 6 Filed 8 -3 1 -9 3 ; 9:35 am]
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