PART 520--FOREIGN FUNDS CONTROL REGULATIONS

Subpart A--Regulations

Sec.
520.01  Definitions.
520.04  Relation of this part 520 to other laws and regulations.
520.05  Holding of certain types of blocked property in interest-bearing accounts.

Subpart B--General Licenses

520.1  General License No. 1.
520.2  General License No. 2.
520.4  General License No. 4.
520.5  General License No. 5.
520.11  General License No. 11.
520.25  General License No. 25.
520.26  General License No. 26.
520.27  General License No. 27.
520.30  General License No. 30.
520.30a  General License No. 30A.
520.33  General License No. 33.
520.74  General License No. 74.
520.86  General License No. 86.
520.87  General License No. 87.
520.94  General License No. 94, as amended.
520.98  General License No. 98.
520.101  General License No. 101.
520.102  General License No. 102.
520.103  Unblocking of Hungarian and Czechoslovak property.

Subpart C--General Rulings

520.203  General Ruling No. 3.
520.204  General Ruling No. 4.
520.205  General Ruling No. 5.
520.205b  General Ruling No. 5B.
520.207  General Ruling No. 7.
520.212  General Ruling No. 12.
520.212a  General Ruling No. 12A.
520.216  General Ruling No. 16.
520.220  General Ruling No. 20.

Subpart D--Public Circulars

520.321  Public Circular No. 21.
520.331  Public Circular No. 31.
520.335  Public Circular No. 35.
520.340  Public Circular No. 40: Effect of prohibitions with respect to domestic and foreign scheduled securities.

Subpart E--[Reserved]

Subpart F--Reports and Records

520.601  Records.
520.602  Reports to be furnished on demand.
520.611  Reports on Form TFR - 611.

Subpart G--Penalties

520.701  Penalties.

Subpart H--Procedures

520.801  Licensing.
520.802  Unblocking.
520.803  Decision.
520.804  Records and reporting.
520.805  Amendment, modification or revocation.
520.806  Rulemaking.
520.807  Delegation by the Secretary of the Treasury.
520.809  Rules governing availability of information.

Subpart I--Miscellaneous Provisions

520.901  Paperwork Reduction Act notice.

    Authority: 50 U.S.C. App. 5, as amended; E.O. 8389, 5 FR 1400, as amended by E.O. 8785, 6 FR 2897, E.O. 8832, 6 FR 3715, E.O. 8963, 6 FR 2897, E.O. 8832, 6 FR 3715, E.O. 8963, 6 FR 6348, E.O. 8998, 6 FR 6785, E.O. 9193, 7 FR 5205; 3 CFR, 1938 - 1943 Cum. Supp., p. 1174; E.O. 10348, 17 FR 3769, 3 CFR, 1949 - 1953 Comp., p. 871; E.O. 11281, 31 FR 7215, 3 CFR, 1966 - 1970 Comp., p. 546.

    Source: 31 FR 7333, May 20, 1966, unless otherwise noted.

Subpart A--Regulations


520.01   Definitions.

    (a) The term order shall refer to Executive Order 8389 of April 10, 1940 (3 CFR, 1943 Cum. Supp.), as amended.
    (b) The term regulations shall refer to the regulations in this part.
    (c) The terms property and property interest or property interests shall include, but not by way of limitation, money, checks, drafts, bullion, bank deposits, savings accounts any debts, indebtedness or obligations, financial securities commonly dealt in by bankers, brokers, and investment houses, notes, debentures, stocks, bonds, coupons, bankers' acceptances, mortgages, pledges, liens or other rights in the nature of security, warehouse receipts, bills of lading, trust receipts, bills of sale, any other evidences of title, ownership or indebtedness, goods, wares, merchandise, chattels, stocks on hand, ships, goods on ships, real estate mortgages, vendors' sales agreements, land contracts, real estate and any interest therein, leaseholds, ground rents, options, negotiable instruments, trade acceptances, royalties, book accounts, accounts payable, judgments, patents, trademarks, copyrights, contracts or licenses affecting or involving patents, trademarks or copyrights, insurance policies, safe deposit boxes and their contents, annuities, pooling agreements, contracts of any nature whatsoever, et cetera.
    (d) Safe deposit boxes shall be deemed to be in the custody not only of all persons having access thereto but also of the lessors of such boxes whether or not such lessors have access to such boxes. The foregoing shall not in any way be regarded as a limitation upon the meaning of the term ``custody.''
    (e) For the meaning of other terms reference should be made to the definitions contained in the order. In interpreting rulings, licenses, instructions, etc., issued pursuant to the order and regulations, particular attention is directed to the provisions of General Ruling No. 4 (520.204), as from time to time hereafter amended.


520.04   Relation of this part 520 to other laws and regulations.

    (a) This part 520 is independent of parts 500, 505, and 515 of this chapter. The prohibitions contained in part 520 are in addition to the prohibitions contained in parts 500, 505, and 515.
    (b) The regulations in part 520 and any rulings, licenses or instructions issued hereunder shall not be deemed to authorize any transaction prohibited by reason of regulations in any other part or pursuant to any other order, proclamation, or regulation, other than Executive Order 8389, as amended.
    (c) No license or authorization contained in or issued pursuant to regulations in any other part shall be deemed to authorize any transaction prohibited by Executive Order 8389, as amended, nor shall any license or authorization issued pursuant to any other provision of law be deemed to authorize any transaction so prohibited.

[31 FR 7333, May 20, 1966; 31 FR 7625, May 27, 1966]


520.05  Holding of certain types of blocked property in interest-bearing accounts.

    (a) Except as provided by paragraphs (d) and (e) of this section, or as authorized by the Secretary of the Treasury or his delegate by specific license, any person holding any property included in paragraph (g) of this section is prohibited from holding, withholding, using, transferring, engaging in any transactions involving, or exercising any right, power, or privilege with respect to any such property, unless it is held in an interest-bearing account in a domestic bank.
    (b) Any person presently holding property subject to the provisions of paragraph (a) of this section which, as of the effective date of this section, is not being held in accordance with the provisions of that paragraph, shall transfer such property to or hold such property or cause such property to be held in an interest-bearing account in any domestic bank within 30 days of the effective date of this section.
    (c) Any person holding any checks or drafts which remain blocked under the provisions of 520.101(a)(1) through (5) is authorized and directed, wherever possible consistent with state law (except as otherwise specifically provided in paragraph (c)(3) of this section), to negotiate or present for collection or payment such instruments and credit the proceeds to interest-bearing accounts. Any transaction by any person incident to the negotiation, processing, presentment, collection or payment of such instruments and deposit of the proceeds into interest-bearing account is hereby authorized: Provided, That:
    (1) The transaction does not represent, directly or indirectly, a transfer of the interest of a designated national to any other country or person;
    (2) The proceeds are held in a blocked account indicating the designated national who is the payee or owner of the instrument; and
    (3) In the case of a blocked check or draft which has been purchased by the maker/drawer from the drawee bank (e.g., cashier's check, money order, or traveler's check) or which is drawn against a presently existing account, such bank, on presentment of the instrument in accordance with the provisions of this section, shall either:
    (i) Pay the instrument (subject to paragraphs (c) (1) and (2) of this section) or (ii) credit a blocked account on its books with the amount payable on the instrument. In either event, the blocked account shall be identified as resulting from the proceeds of a blocked check or draft, and the identification shall include a reference to the names of both the maker and payee of the instrument.
    (d) Property subject to the provisions of paragraph (a) or (b) of this section, held by a person claiming a set-off against such property, is exempt from the provisions of paragraphs (a), (b) and (c) of this section, to the extent of the set-off: Provided however, That interest shall be due from thirty days after the effective date of this section if it should ultimately be determined that the claim to a set-off is without merit.
    (e) Property subject to the provisions of paragraphs (a) and (b) of this section, held in a customer's account by a registered broker/dealer in securities, may continue to be held for the customer by the broker/dealer provided interest is credited to the account on any balance not invested in securities in accordance with 520.4. The interest paid on such accounts by a broker/dealer who does not elect to hold such property for a customer's account in a domestic bank shall not be less than the maximum rate payable on the shortest time deposit available in any domestic bank in the jurisdiction in which the broker/dealer holds the account.
    (f) For purposes of this section, the term ``interest-bearing account'' means a blocked account earning interest at no less than the maximum rate payable on the shortest time deposit in the domestic bank where the account is held: Provided however, That such an account may include six-month Treasury bills or insured certificates, with a maturity not exceeding six months, appropriate to the amounts involved.
    (g) The following types of property are subject to paragraphs (a) and (b) of this section:
    (1) Any currency, bank deposit and bank accounts which remain blocked under the provisions of 520.101(a)(1) through (5);
    (2) Any property which remains blocked under the provisions of 520.101(a)(1) through (5) and which consists, in whole or in part, of undisputed and either liquidated or matured debts, claims, obligations or other evidence of indebtedness, to the extent of any amount that is undisputed and liquidated or matured; and,
    (3) Any proceeds resulting from the payment of an obligation under paragraph (c) of this section.
    (h) For purposes of this section, the term ``domestic bank'' includes any FSLIC-insured institution (as defined in 12 CFR 561.1).
    (i) For the purposes of this section the term ``person'' includes the United States Government or any agency or instrumentality thereof, except where the agency or instrumentality submits to the Office of Foreign Assets Control an opinion of its General Counsel that either:
    (1) It lacks statutory authority to comply with this section, or (2) the requirements of paragraphs (a) and (b) of this section are inconsistent with the statutory program under which it operates.

[44 FR 11773, Mar. 2, 1979]

Subpart B--General Licenses


520.1   General License No. 1.

    A general license is hereby granted authorizing any payment or transfer of credit from a locked account to a blocked account in a domestic bank providing the following terms and conditions are complied with:
    (a) Such payment or transfer shall not be made:
    (1) From any blocked account in a domestic bank; or
    (2) From any other blocked account of such payment or transfer represents, directly or indirectly, a transfer of interest from a foreign country or national thereof to any other country or person.
    (b) This general license shall not be deemed to authorize:
    (1) Any payment or transfer to any blocked account held in a name other than that of the foreign country or national thereof who is the ultimate beneficiary of such payment or transfer; or
    (2) Any foreign exchange transaction including, but not by way of limitation, any transfer of credit, or payment of an obligation, expressed in terms of the currency of any foreign country.

This general license should not be employed to make any payment or transfer of credit comprising an integral part of a transaction which cannot be effected without the subsequent issuance of a further license.

    Cross References: For additional material relating to 520.1, see 520.321. For general ruling with respect to payments or transfers between blocked accounts, see 520.220.


520.2   General License No. 2.

    (a) A general license is hereby granted:
    (1) Authorizing any banking institution within the United States to debit any blocked account with such banking institution (or with another office within the United States of such banking institution) in payment or reimbursement for normal service charges owed to such banking institution by the owner or such blocked account;
    (2) Authorizing any banking institution within the United States to make book entries against any foreign currency account maintained by it with a banking institution in any foreign country for the purpose of responding to debits to such account for normal service charges in connection therewith.
    (b) [Reserved]
    (c) As used in this general license, the term ``normal service charges'' shall include charges in payment or reimbursement for interest due; cable, telegraph, or telephone charges; postage costs; custody fees; small adjustment charges to correct bookkeeping errors; and, but not by way of limitation, minimum balance charges, account carrying charges, notary and protest fees, and charges for reference books, photostats, credit reports, transcripts of statements, registered mail insurance, stationery and supplies, checkbooks, and other similar items.


520.4   General License No. 4.

    (a) A general license is hereby granted authorizing the bona fide sale of securities excepted from 520.101 on a national securities exchange by banking institutions within the United States and the making and receipt of payments, transfers of credit, and transfers of such securities which are necessary incidents of any such sale; Provided, That:
    (1) The proceeds of the sale are credited to a blocked account in the name of the national for whose account the sale was made and in the banking institution within the United States which held the securities for such national; and
    (2) This general license shall not be deemed to authorize the sale of any security excepted from 520.101 registered or inscribed in the name of any of the foreign countries listed in 520.101(a)(1) or any national thereof, irrespective of the fact that at any time (whether prior to, on, or subsequent to April 10, 1940) the registered or inscribed owner thereof may have, or appears to have, assigned, transferred or otherwise disposed of the security.
    (b) - (c) [Reserved]
    (d) Securities issued or guaranteed by the Government of the United States or any State, commonwealth, territory, district, county, municipality or other political subdivision thereof (including agencies and instrumentalities of the foregoing) need not be sold on a national securities exchange: Provided, That such securities are sold at market value and pursuant to all other terms and conditions prescribed in this general license.


520.5   General License No. 5.

    A general license is hereby granted authorizing the payment from any blocked account to the United States or any agency or instrumentality thereof or to any State, commonwealth, territory, district, county, municipality or political subdivision in the United States, of customs duties, taxes, and fees payable thereto, by the owner of such blocked account.

[31 FR 7626, May 27, 1966]


520.11   General License No. 11.

    (a) Certain payments for living expenses from certain blocked accounts authorized. A general license is hereby granted authorizing payments and transfers of credit in the United States from blocked accounts in domestic banking institutions held in the name of an individual within the United States to or upon the order of such individual: Provided, That:
    (1) Such payments and transfers of credit are made for the living, traveling, and similar personal expenses in the United States of such individual or his family; and
    (2) The total of all such payments and transfers of credit made under this general license from the accounts of such individual does not exceed $250 in any one calendar month.
    (b) Duty of banking institutions acting under this license. Banking institutions effecting any such payment or transfer of credit shall satisfy themselves that the terms of this license are complied with.


520.25   General License No. 25.

    A general license is hereby granted exempting all transactions from the provisions of section 2A(1) of the order.


520.26   General License No. 26.

    A general license is hereby granted under section 2A(2) of Executive Order 8339, of April 10, 1940, as amended, authorizing the acquisition by, or transfer to, any person within the United States of any interest in any American Depositary Receipt or American Share physically situated within the United States representing any security or evidence thereof not physically situated within the United States which Receipt or Share was admitted to dealings on a national securities exchange on and prior to July 25, 1940:
    Provided, however, That this general license shall not be deemed to authorize the issuance of American Depositary Receipts or American Shares against the deposit after July 25, 1940 of any security or evidence thereof not physically situated within the United States:
    And provided, That this general license shall not be deemed to authorize any transaction prohibited by reason of any provision (or ruling or regulation thereunder) of such order other than section 2A(2).


520.27   General License No. 27.

    A general license is hereby granted authorizing:
    (a) The payment to, and receipt by, a banking institution within the United States of funds or other property representing dividends or interest on securities held by such banking institution in a blocked account: Provided, That the funds or other property are credited to or deposited in a blocked account in the name of the national for whose account the securities were held, and in the banking institution within the United States which held such securities; and
    (b) The payment to, and receipt by, a banking institution within the United States of funds payable in respect of securities (including coupons) excepted from 520.101 presented by such banking institution to the proper paying agents within the United States for redemption or collection for the account and pursuant to the authorization of nationals of any country listed in 520.101(a)(1): Provided, That:
    (1) The proceeds of the redemption or collection are credited to a blocked account in the name of the national for whose account the redemption or collection was made and in the banking institution within the United States which held the securities for such national; and
    (2) This general license shall not be deemed to authorize the presentment for redemption of any security excepted from 520.101 registered or inscribed in the name of any country listed in 520.101(a)(1), or any national thereof, irrespective of the fact that at any time (whether prior to, on, or subsequent to April 10, 1940), the registered or inscribed owner thereof may have, or appears to have, assigned, transferred or otherwise disposed of the security; and
    (c) The performance of such other acts, and the effecting of such other transactions, as may be necessarily incident to any of the foregoing.

This general license shall not be deemed to authorize any payment, transfer or withdrawal from a blocked account in which the issuer of, or other obligor with respect to, a security has an interest if such issuer or obligor is a country listed in 520.101(a)(1) or a national thereof.


520.30   General License No. 30.

    A general license is hereby granted authorizing any bank or trust company incorporated under the laws of the United States or any State, commonwealth, territory or district of the United States, or any private bank subject to supervision and examination under the banking laws of any State of the United States, acting as trustee of any trust administered in the United States or as legal representative of any estate of an infant or incompetent administered in the United States, in which trust or estate one or more persons who are nationals of one of the foreign countries listed in 520.101(a)(1) have an interest, beneficial or otherwise, or are cotrustees or corepresentatives, to engage in the following transactions:
    (a) Payments of distributive shares of principal or income to all persons legally entitled thereto who are not nationals of any of the foreign countries listed in 520.101(a)(1); and
    (b) Other transactions arising in the administration of such trust or estate which might be engaged in if no national of any of the foreign countries listed in 520.101(a)(1) were a beneficiary, cotrustee or corepresentative of such trust or estate: Provided, however, That this section shall not be deemed to authorize such trustee or legal representative to engage in any transaction at the request, or upon the instructions, of any beneficiary, cotrustee or corepresentative of such trust or estate or other person who is a national of any of the foreign countries listed in 520.101(a)(1).

[31 FR 7333, May 20, 1966; 31 FR 7625, May 27, 1966]


520.30a   General License No. 30A.

    (a) A general license is hereby granted authorizing all transactions incident to the administration of the assets situated within the United States of any blocked estate in which any one of the following conditions is present:
    (1) The estate is blocked solely by reason of an interest therein of a person other than the decedent; or
    (2) [Reserved]
    (3) The gross value of the assets within the United States does not exceed $5,000:

Provided, however, That any property paid or distributed to a national of a country listed in 520.101(a)(1) pursuant to this general license shall be subject to all the provisions of the order: And provided further, That any payment or distribution of any funds, securities or other choses in action to a national of a country listed in 520.101(a)(1) shall be made by deposit in a blocked account in a domestic bank or with a public officer, agency, or instrumentality designated by a court having jurisdiction of the estate:
    (i) In the name of the national who is the ultimate beneficiary thereof; (ii) in the name of a person who is not a national of a country listed in 520.101(a)(1) in trust for the national who is the ultimate beneficiary; or (iii) under any other designation which clearly shows the interest therein of such national.
    (b) This general license also authorizes all transactions incident to the following limited acts of administration of the assets situated within the United States of any other blocked estate:
    (1) The appointment and qualification of a personal representative;
    (2) The collection and preservation of such assets by such personal representative and the payment of all costs, fees and charges in connection therewith; and
    (3) The payment by such personal representative of funeral expenses and expenses of the last illness.
    (c) This general license shall not be deemed to authorize:
    (1) Any national of a country listed in 520.101(a)(1) to act as personal representative or co-representative of any estate;
    (2) Any national of a country listed in 520.101(a)(1) to represent, directly or indirectly, any person who has an interest in an estate;
    (3) Any transaction, directly or indirectly, at the request or upon the instructions of any national of a country listed in 520.101(a)(1); or
    (4) Any transaction which could not be effected if no national of a country listed in 520.101(a)(1) had any interest in such estate.
    (d) As used in this general license, the term ``blocked estate'' shall mean any decedent's estate in which a national of a country listed in 520.101(a)(1) has an interest. A person shall be deemed to have an interest in a decedent's estate if he:
    (1) Was the decedent;
    (2) Is a personal representative; or
    (3) Is a creditor, heir, legatee, devisee, distributee, or beneficiary.
    (e) This general license authorizes all transactions incident to the collection, conservation, administration, liquidation, and distribution of any blocked estate engaged in since the effective date of the order, provided such transactions comply with the terms and conditions of this general license.
    (f) Any transfer or other dealing in any property authorized under this general license shall not be deemed to limit or restrict the exercise of any power or authority under section 5(b) of the Trading With the Enemy Act, as amended.


520.33   General License No. 33.

    (a) Certain remittances to U.S. citizens in foreign countries authorized. A general license is hereby granted authorizing remittances by any person through any domestic bank to any individual who is a citizen of the United States within any foreign country and any domestic bank is authorized to effect such remittances, provided the following terms and conditions are complied with:
    (1) Such remittances do not exceed $1,000 in any one calendar month to any payee and his household and are made only for the necessary living and traveling expenses of the payee and his household, except that an additional sum not exceeding $1,000 may be remitted once to such payee if such sum will be used for the purpose of enabling the payee or his household to return to the United States;
    (2) Such remittances are not made from a blocked account other than from an account in a banking institution within the United States in the name of, or in which the beneficial interest is held by, the payee or members of his household.
    (b) Methods of effecting remittances. Remittances authorized in this section may be effected in free dollars.
    (c) Duty of persons and domestic banks acting under this section. All persons making such remittances and all domestic banks effecting such remittances shall satisfy themselves that the foregoing terms and conditions are complied with.


520.74   General License No. 74.

    (a) Certain U.S. citizens licensed as generally licensed nationals. A general license is hereby granted licensing as a generally licensed national any citizen of the United States who is within any foreign country and who is a national of a country listed in 520.101(a) (1).


520.86   General License No. 86.

    (a) A general license is hereby granted authorizing the following transactions:
    (1) The payment of premiums and interest on policy loans with respect to any blocked life insurance policy;
    (2) [Reserved]
    (3) The issuance, servicing or transfer of any blocked life insurance policy in which the only blocked interest is that of a beneficiary:

Provided, however, That this paragraph does not authorize: (i) Any payment from any blocked account except a blocked account of the insured or beneficiary, or (ii) any payment by the insurer to a national of a country listed in 520.101 (a)(1) unless payment is made by deposit in a blocked account in a domestic bank in the name of the national who is the ultimate beneficiary thereof.
    (b) [Reserved]
    (c) This general license further authorizes the application, in accordance with the provisions of the policy or the established practice of the insurer, of the dividends, cash surrender value, or loan value, of any blocked life insurance policy for the purpose of:
    (1) Paying premiums;
    (2) Paying policy loans and interest thereon;
    (3) Establishing paid-up insurance; or
    (4) Accumulating such dividends or values to the credit of the policy on the books of the insurer.
    (d) As used in this general license:
    (1) The term ``blocked life insurance policy'' shall mean any life insurance policy or annuity contract, or contract supplementary thereto, in which there is a blocked interest.
    (2) Any interest of a national of a country listed in 520.101(a)(1) shall be deemed to be a ``blocked interest.''
    (3) The term ``servicing'' shall mean the following transactions with respect to any blocked life insurance policy:
    (i) The payment of premiums, the payment of loan interest, and the repayment of policy loans;
    (ii) The effecting by a life insurance company or other insurer of loans to an insured;
    (iii) The effecting on behalf of an insured of surrenders, conversions, modifications, and reinstatements; and
    (iv) The exercise or election by an insured of nonforfeiture options, optional modes of settlement, optional disposition of dividends, and other policy options and privileges not involving payment by the insurer.
    (4) The term ``transfer'' shall mean the change of beneficiary, or the assignment or pledge of the interest of an insured in any blocked life insurance policy subsequent to the issuance thereof.
    (e) This section shall not be deemed to authorize any transaction with respect to any blocked life insurance policy issued by a life insurance company or other insurer which is a national of a country listed in 520.101(a)(1) or which is not doing business or effecting insurance in the United States.


520.87   General License No. 87.

    A general license is hereby granted exempting all transactions from the provisions of section 2A(2) of the order, except transactions with respect to foreign scheduled securities as defined in 520.205 (General Ruling No. 5) and domestic scheduled securities as defined in 520.205b (General Ruling No. 5B).

    Note: For interpretation of 520.87, see 520.335.


520.94   General License No. 94, as amended.

    (a) Blocked countries generally licensed subject to certain conditions. A general license is hereby granted licensing all blocked countries and nationals thereof to be regarded as if such countries were not foreign countries designated in the order: Provided, That
    (1) Any property in which on the effective date hereof any of the following had an interest:
    (i) Any blocked country (including countries licensed hereby) or person therein; or (ii) any other partnership, association, corporation, or other organization, which was a national of a blocked country (including countries licensed hereby) by reason of the interest of any such country or person therein; or
    (2) Any income from such property accuring on or after the dates specified in paragraph (e) of this section, shall continue to be regarded as property in which a blocked country or national thereof has an interest and no payment, transfer, or withdrawal or other dealing with respect to such property shall be effected under, or be deemed to be authorized by this paragraph.
    (b) Transactions under other licenses authorized without regard to certain restrictions. With respect to property subject to the proviso of paragraph (a) of this section, any transaction which is authorized under any license (other than 520.1, 520.4, 520.27, and 520.30a, General Licenses Nos. 1, 4, 27, and 30A, or any other license to the extent that it merely authorizes transfers between blocked accounts of the same person or changes in the form of property held in a blocked account) may be effected without regard to any terms of such license relating to the method of effecting such transaction.
    (c) - (d) [Reserved]
    (e) Effective date. The effective date of this section shall be December 7, 1945, except that it shall be October 5, 1945, as to France, November 20, 1945, as to Belgium, November 30, 1946, as to Switzerland and Liechtenstein, December 31, 1946, as to Germany and Japan, and March 28, 1947, as to Sweden.


520.98   General License No. 98.

    (a) Certain transactions with respect to coupons appertaining to foreign or domestic scheduled securities authorized. Notwithstanding the provisions of 520.205 (General Ruling No. 5) and 520.205b (General Ruling No. 5B), the following transactions with respect to any coupon which is a foreign scheduled security or a domestic scheduled security, as defined in said sections (any such coupon is hereinafter referred to as a ``scheduled coupon'' for the purposes of this section) are licensed subject to paragraphs (a)(5) (i) and (ii) of this section if effected within the United States:
    (1) Delivery by any person in the United States of any scheduled coupon for collection to any person who in the ordinary course of his business forwards for payment coupons appertaining to securities;
    (2) Receipt from any person in the United States for collection and forwarding for collection of any scheduled coupon by any person who in the ordinary course of his business forwards for payment coupons appertaining to securities;
    (3) Presentation of any scheduled coupon to the issuer or its paying agent for payment thereof;
    (4) Payment of any scheduled coupon by the issuer or its paying agent upon condition that within 30 days after presentation for payment the issuer or its paying agent shall return the coupon to the person who presented it for payment; and
    (5) Transfer of cash or credit for a scheduled coupon to any party to any transaction licensed by this section; Provided, That:
    (i) No transaction referred to in paragraphs (a) (1), (2), (3), (4), and (5) of this section is licensed except upon the condition that the party delivering, forwarding, or presenting any such scheduled coupon, upon return to him of such coupon, reimburse the person returning it to him in the amount paid or credited to him by that person.
    (ii) No transaction licensed by this section shall operate to transfer title to or to discharge the obligation evidenced by any scheduled coupon unless authorized by a license from the Director, Office of Foreign Assets Control, expressly referring to General Ruling No. 5 or General Ruling No. 5B.
    (b) Reports and notices required. The provisions of 520.205(e)(5) and 520.205b(e)(5) apply to any person making a return of any scheduled coupon.


520.101   General License No. 101.

    (a) A general license is hereby granted licensing all property now blocked under the order to be regarded as property in which no blocked country or national thereof has, or has had, any interest: Provided, however, That the license granted by this paragraph shall not apply to any property blocked by reason of the interest on or since the effective date of the order of any of the following:
    (1) Estonia, Latvia, and Lithuania.
    (2) Any other partnership, association, corporation, or other organization which was a national of any country designated in paragraph (a)(1) of this section by reason of the interest therein of any such country.
    (b) Nothing in this section shall be deemed to apply to any property subject to 520.205 and 520.205b (General Ruling Nos. 5 and 5B), relating to foreign and domestic scheduled securities.
    (c) Nothing in this section shall be deemed to apply: (1) To any property or interest title to which is vested in the Attorney General, or as to which an outstanding supervisory order has been issued by the Attorney General or the Alien Property Custodian or the Office of Alien Property Custodian, or (2) to any business enterprise or its property as to which the Attorney General or the Alien Property Custodian or the Office of Alien Property Custodian has issued an outstanding supervisory order, or which has been vested or assets of or interests in which have been vested.

[38 FR 7985, Mar. 27, 1973, as amended at 47 FR 12339, Mar. 23, 1982; 56 FR 45895, Sept. 9, 1991; 57 FR 44682, Sept. 29, 1992]


520.102   General License No. 102.

    (a) A general license is hereby granted licensing any property in any account where the total value of the property in the account on June 1, 1953, was not more than $100 to be regarded as property in which no blocked country or national thereof has, or has had, any interest.
    (b) Nothing in this section shall be deemed to apply to any property subject to 520.205 and 520.205b (General Ruling Nos. 5 and 5B), relating to foreign and domestic scheduled securities.
    (c) Nothing in this section shall be deemed to apply: (1) To any property or interest that has been vested, or as to which an outstanding supervisory order has been issued, by the Attorney General or the Alien Property Custodian or the Office of Alien Property Custodian or (2) to any business enterprise and/or its property as to which the Attorney General or the Alien Property Custodian or the Office of Alien Property Custodian has issued an outstanding supervisory order, or which has been vested, or assets of or interests in which have been vested.


520.103   Unblocking of Hungarian and Czechoslovak property.

    A general license is hereby granted licensing the following property blocked under Executive Order 8389, as amended, to be regarded as property in which no blocked country or national thereof has, or has had, any interest:
    (a) All property blocked by reason of the interest on or since March 13, 1941, of Hungary or of any individual, partnership, association, corporation, or other organization which on January 1, 1945, was in Hungary.
    (b) All property blocked by reason of the interest on or since June 14, 1941, of Czechoslovakia or of any individual partnership, association, corporation or other organization which on December 7, 1945, was in Czechoslovakia.

[47 FR 12339, Mar. 23, 1982]

Subpart C--General Rulings


520.203   General Ruling No. 3.

    The attention of banks, brokers, transfer agents, registrars and all other persons and banking institutions in the United States is invited to the fact that the Treasury Department construes Executive Order 8389, April 10, 1940, as amended, and the regulations issued pursuant thereto as prohibiting the acquisition, transfer, disposition, transportation importation, exportation, or withdrawal of, or the endorsement or guarantee of signatures on, or otherwise dealing in, or with respect to, any security (or evidence thereof) registered or inscribed in the name of any country designated in Executive Order 8389, April 10, 1940, as amended, or any national thereof, and not licensed under 520.101 except pursuant to a specific license, irrespective of the fact that at any time (either prior to, on, or subsequent to April 10, 1940) the registered or inscribed owner thereof may have, or appears to have, assigned, transferred or otherwise disposed of any such security.


520.204   General Ruling No. 4.

    (a) Except as specifically provided in this section or otherwise, all definitions appearing in Executive Order 8389 of April 10, 1940, as amended, and the regulations issued thereunder, shall apply to the terms employed in all rulings, licenses, instruction, etc., and, in addition, the following definitions and rules of interpretation are prescribed:
    (1) The term order shall mean Executive Order 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) - (6) [Reserved]
    (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).
    (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 pursuant to a license authorizing such action. The term blocked account shall not be deemed to include 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, commonwealth, 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, commonwealth, 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 instruction.
    (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; 15 U.S.C. 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 operation of any license or from the privileges therein conferred or to restrict the applicability 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, 44 U.S.C. 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 Executive Order 8389, as amended, and these 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 Treasury pursuant to section 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 proceeding 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 section 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.

[31 FR 7333, May 20, 1966; 31 FR 7625, May 27, 1966]


520.205   General Ruling No. 5.

    (a) Prohibitions with respect to foreign scheduled securities. Except as authorized by license or other authorization specifically referring to this section from the Director, Office of Foreign Assets Control, Treasury Department, or as required or authorized by paragraph (e) of this section, any transfer of, dealing in, or other transaction by a person within the United States or a person subject to the jurisdiction of the United States with respect to a foreign scheduled security or any obligation, interest, or claim of which such security is evidence, is prohibited.
    (b) Definition. As used in this section, the term foreign scheduled securities shall include all securities wherever located which appear on the list in paragraph (g) of this section, entitled ``Foreign Scheduled Securities,'' including coupons appertaining thereto.
    (c) Notice. The provisions of this section shall apply whether the parties to any act with respect to foreign scheduled securities prohibited by this section, or persons subject to the requirements with respect to foreign scheduled securities imposed by this section, do or do not have actual notice or knowledge that such securities are foreign scheduled securities.
    (d) Effect of a prohibited transaction. Any transaction in violation of the prohibitions contained in paragraph (a) of this section shall be null and void.
    (e) Duty of persons bringing, receiving, or holding foreign scheduled securities. (1) Foreign scheduled securities brought from a foreign country to the United States by any person shall be forwarded by such person within five (5) days after his arrival in the United States to the Federal Reserve Bank of New York together with a statement in triplicate setting forth the following:
    (i) His name and address;
    (ii) A complete description of the securities;
    (iii) The name and address of the person from whom he received the securities and the date of receipt; and
    (iv) The circumstances under which the securities were received.
    (2) Foreign scheduled securities mailed or otherwise sent from a foreign country to any person within the United States shall be forwarded by such person within five (5) days after receipt thereof to the Federal Reserve Bank of New York together with the above-specified statement in triplicate.
    (3) Foreign scheduled securities held on January 20, 1951, by any person within the United States (whether for himself or for any other person) shall within 30 days thereafter be forwarded by such person to the Federal Reserve Bank of New York together with the above-specified statement in triplicate. Any such person who on January 20, 1951, held foreign scheduled securities as security for an obligation owing to him shall not be required to forward the securities to the Federal Reserve Bank of New York, but shall be required to file the above-specified statement in triplicate with the Office of Foreign Assets Control, Treasury Department, Washington, DC, 20220, together with a statement of the circumstances under which the securities are being held.
    (4) Foreign scheduled securities received by any person within the United States (whether for himself or for any other person) shall be forwarded by such person within five (5) days after receipt thereof to the Federal Reserve Bank of New York together with the above-specified statement in triplicate.
    (5) Any person required by the provisions of paragraph (e) (3) or (4) of this section to forward securities to the Federal Reserve Bank of New York may, instead, return such securities to the person from whom he received them, if the latter is within the United States. The person initiating such return shall file a report with the Office of Foreign Assets Control, Treasury Department, Washington, DC, 20220, giving the name and address of the person to whom he makes such return and he shall advise such person that they are foreign scheduled securities which should be deposited with the Federal Reserve Bank of New York pursuant to this ruling unless they are returned with a similar notice to the person in the United States from whom they were received. The last person in the United States to whom such securities are returned under this paragraph shall forward them to the Federal Reserve Bank of New York, together with the above-specified statement in triplicate with respect to his original receipt of the securities. In case securities are returned under the rules of a securities exchange, an association of securities dealers, or a similar organization, the last member of an exchange or similar organization or dealer to whom such securities are returned under such procedure, if he is not the last person to whom such securities are returned hereunder, shall file with the Office of Foreign Assets Control, Treasury Department, Washington, DC, 20220, the above-specified statement in triplicate with respect to his original receipt of the securities together with the date on which he returned such securities to the person from whom he received them.
    (6) Foreign scheduled securities held by any person not within the United States may be deposited with the Federal Reserve Bank of New York together with the statement specified in paragraph (e)(1) of this section on or before July 31, 1951.
    (7) Acts or transactions required or authorized by the provisions of this paragraph are licensed to the extent, and only to the extent, of permitting compliance therewith.
    (f) Disposition of securities delivered to Federal Reserve Bank of New York. The Federal Reserve Bank of New York shall act only as fiscal agent of the United States under this section, and shall receive and hold securities delivered to it pursuant to this section as such fiscal agent, subject to the further order of the Director, Office of Foreign Assets Control. Applications for release of securities so held may be filed with the Office of Foreign Assets Control, Treasury Department, Washington, DC 20220.
    (g) Appendix.

Foreign Scheduled Securities

bonds

    Antwerp, City of--External Sinking Fund Gold 5% Loan of 1928--Due 1958:
    $1,000--2298, 2300.
    Argentine, Republic of--Sinking Fund 4% Conversion Loan Due February 15, 1972:
    $1,000--11443, 12568, 16957, 19003, 21613, 21614, 24179, 24724, 25347, 25348, 25352, 25353, 25355, 28578, 31200, 31201, 31202, 33563, 34332, 34704, 35382, 39176, 40100, 40101, 40102, 40103, 40104, 40146, 49054, 49702, 54547, 54548, 55213, 55931, 55933, 58783, 59842, 59975, 60755, 60756, 60757, 60758, 60806, 60807, 60808, 62925, 62926, 64446, 68258, 68259, 68260, 68261, 68262.
    $500--1946.
    Argentine, Republic of--6% Bonds 1923/57:
    $1,000--9988.
    Australia, Commonwealth of--4\1/2\% Bonds 1928 Due 1956:
    $1,000--3426, 3428, 9814, 9908, 9909, 9910, 15343, 20862, 27202, 31011, 44858.
    Australia, Commonwealth of--5% Bonds 1925 Due 1955:
    $1,000--6932, 6933, 19046, 19047, 19048, 19049, 19050, 19051, 22879, 40093.
    Belgium, Kingdom of--30 Year External Sinking Fund 6% Gold Loan of 1925 Due 1955:
    $1,000--7493.
    Bolivia, Republic of--External Secured Sinking Fund Gold Bonds 7% of 1928 Due 1969:
    $1,000--1089, 8171, 10531, 13799, 13824, 16290, 17449, 18070, 21228.
    Bolivia, Republic of--8% Bonds, 1922/47:
    $1,000--1083, M13981, 14941.
    Brazil, United States of--5% Funding Bonds Due 1951:
    $1,000--9745.
    $100--20663, 20664, 20665, 20667, 20674, 33915, 33941, 33942, 33949, 34898, 34899, 34900, 35181, 35182, 35498, 35499, 35500, 35501, 41538, 41678, 42804, 42805, 42835, 42868, 42869, 48337, 57746, 57747, 60446, 60464, 62521, 66824, 70275, 70276, 70281, 71485, 71486.
    Brazil, United States of--External Sinking Fund Gold 6\1/2\% Loan of 1926 Due October 1, 1957:
    $1,000--59, 301, 2318, 4097, 7795, 9990, 12239, 13199, 13327, 13973, 14223, 14543, 17000, 17454, 18237, 18238, 18564, 19582, 19586, 19592, 19620, 19632, 19633, 19798, 19824, 19825, 19903, 19915, 19975, 20085, 20120, 20138, 20159, 20164, 20170, 20256, 20270, 20416, 20438, 20504, 20531, 20563, 20573, 20578, 20586, 20603, 20632, 20633, 20716, 20733, 20745, 20758, 20853, 20914, 20928, 20938, 21007, 21008, 21030, 21036, 21081, 21082, 21155, 21259, 21361, 21367, 21408, 21428, 21432, 21448, 21773, 21779, 21780, 21863, 21883, 21948, 21961, 21998, 22074, 22136, 22189, 22192, 22216, 22346, 22370, 22407, 22425, 22433, 22434, 22435, 22469, 22470, 22471, 22486, 22514, 22515, 22591, 22650, 22679, 22684, 22880, 22897, 22928, 22998, 23072, 23219, 23222, 23317, 23349, 23378, 23389, 23440, 23447, 23489, 23490, 23524, 23591, 23628, 23712, 23855, 24259, 24968, 25361, 25485, 25674, 25767, 25857, 26358, 26462, 26650, 26832, 27588, 27637, 27648, 27776, 27788, 28711, 28767, 28855, 29213, 29838, 31500, 31886, 33105, 33789, 34363, 34449, 34687, 35661, 36007, 36086, 36181, 36573, 36802, 37382, 38916, 39175, 40318, 40884, 41034, 41691, 46344, 47676, 48342, 48664, 48665, 48896, 49395, 49415, 50114, 51915, 52758, 53831, 53997, 54239, 54240, 54372, 54608, 55468, 56019.
    $500--520, 545, 546, 769, 804, 887, 943, 1082, 5805.
    Brazil, United States of--6\1/2\% Bonds Issued 1927 Due 1957:
    $1,000--24641.
    Brisbane, City of--External Sinking Fund Gold 5% Loan of 1928 Due 1958:
    $1,000--4072, 5334.
    Buenos Aires, Province of--3% Bonds 1936/84:
    $100--758, 1260, 1350, 1891, 1957, 1958, 2127, 4099, 4100, 5641.
    Buenos Aires, Province of--4\1/8\% - 4\3/8\% External Readjust, Sinking Fund Due 3/1/77:
    $1,000--355, 356, 395, 396, 4219, 4889, 7191, 8335, 10851, 11263, 11273, 11284, 11285, 11286, 11287, 11330, 13766, 14043, 14320, 14322, 14323, 14359, 14402, 14456, 14555, 16209, 16210, 16214, 16973, 17005, 17012, 17034, 17035, 17036, 17053, 17061, 17062, 17063, 17064, 17081, 17095, 17130, 17426, 17434, 17488, 17502, 17505, 18676, 19409, 19414, 21648, 21649, 22952, 22968, 22984, 22985, 22986, 22987, 22999, 23302, 23716, 24253, 24581, 24651, 24780, 25392, 25731, 31338, 31488, 31766, 31917, 32103, 32391, 32775, 32776, 32777, 32778, 32779, 32780, 32979, 34637, 34638.
    $500--1042, 1043, 1047, 1048, 1049, 1058, 1059, 1076, 1446, 1448, 1454, 1472, 1636, 1697, 1698, 1791, 1794, 1932, 1933, 2734, 2735, 2736, 2738, 2739, 3564.
    Caja De Prestamos Para Obras De Irrijacien Y Fomente De La Agriculture S. A.-- 4\1/2\% 35 Year Gold Bonds Due 1943:
    $1,000--5446, 5574, 5984, 6859, 8189, 9061, 9082, 9386, 9473, 9692, 10520, 12622.
    $100--3315, 8119.
    Canada, Dominion of--3% Bonds 1938 Due 1968:
    $1,000--34446.
    Canada, Dominion of--5% Bonds 1922 Due 1952:
    $1,000--17199.
    Canadian National Railway Co.--Guaranteed Gold 5% Bonds Issued July 1929 Due 1969:
    $1,000--25208, 46536.
    Canadian National Railway Co.--Guaranteed Gold, 5% Bonds Issued October 1929 Due 1969:
    $1,000--9886, 11257, 18717.
    Canadian Pacific Railway Company Perpetual 4% Consolidated Debenture Stock:
    $1,000--1162, 1643, 2244, 2893, 4521, 4653, 5205, 6818, 6993, 7042, 8583, 9515, 10016, 10428, 11934, 14039, 15902, 16285, 16313, 16447, 16470, 17148, 17779, 18053, 18482, 18769, 18885, 19661, 19665, 19666, 19667, 19984, 20101, 20349, 21227, 21707, 21708, 22407, 22788, 24517, 29180, 29909, 30187, 30442, 31628, 31920, 32285, 33534, 33932, 34111, 34146, 35465, 36832, 36955, 36956, 37817, 39852, 44210, 44262, 44263, 44264, 44572, 45459, 45834, 76073, 76074, 76075, 76076, 76077, 80802, 81513, 84283, 86126, 86263, 86825.
    $500--364, 1888, 1889, 4133, 4134.
    Canadian Pacific Railway Company--4\1/2\% Gold Bonds 20 Year Guaranteed, 1926/46:
    $1,000--222, 300, 306, 2273, 3169, 3194, 3558, 3747, 5375, 8358, 9550, 9551, 11120, 11503, 11516, 16074, 16282, 16286, 16304, 17868.
    $500--147, 148, 1895, 2518, 2519, 3231, 3232.
    Canadian Pacific Railway Company--4\1/2\% 30 Year Guaranteed Gold Bonds Due July 1, 1960:
    $1,000--206, 370, 371, 387.
    $500--86, 87, 88, 108, 109, 110, 111, 137, 158, 167, 169, 172, 257, 258, 259, 260, 261, 262, 263, 264.
    Carlsbad, City of--8% External Loan Bonds 1924 Due 1954:
    $1,000--300, 301, 302, 303, 595, 597, 598, 1050, 1051, 1052.
    Cauca Valley, Department of (Columbia)-- 7% 1948:
    $1,000--1149.
    Chile, Republic of, External Sinking Fund Gold 6% Loan of 1926 Due 1960:
    $1,000--1493, 2111, 2141, 2171, 2237, 2380, 2457, 2475, 2482, 2483, 2505, 2506, 2512, 2516, 2535, 2723, 2724, 2795, 2806, 2844, 2854, 2914, 2919, 2934, 2981, 3142, 3143, 3144, 3145, 3146, 3147, 3148, 3149, 3150, 3151, 3198, 3256, 3301, 3358, 3379, 3390, 3451, 3452, 3489, 3575, 3653, 3875, 3931, 3940, 4880, 7137, 8957, 9733, 9783, 11219, 12764, 14000, 14418, 15053, 15527, 15988, 17222, 17974, 18599, 18882, 19204, 20547, 23046, 24418, 24907, 28843, 30398, 30976, 31084, 31499, 31586, 32229, 32736, 33379, 34785, 35473, 35594, 35658, 36121, 36944, 38663, 38710, 40248, 40263, 40344.
    $500--236, 241, 242, 476, 507, 535, 536, 543, 548, 572, 580, 594, 600, 602, 636, 748, 749, 750, 751, 771, 772, 1605.
    Chile, Republic of, External Sinking Fund Gold Loan 6% of 1927 Due 1961:
    $1,000--126, 133, 171, 206, 291, 353, 363, 564, 602, 619, 629, 715, 717, 719, 740, 807, 871, 872, 877, 1007, 1008, 1198, 1223, 1246, 1316, 2006, 2415, 3392, 5242, 5283, 6095, 6769, 7334, 9227, 9228, 9391, 9682, 12812, 13810, 17229, 19029, 19357, 19595, 20436, 21023, 21619, 22010, 22598, 22933, 23216, 23340, 23503, 23554, 24380, 24467, 24933, 25579.
    $500--39, 181, 182, 240, 242, 281, 282.
    Chile, Republic of, External Railway Ref. Sinking Fund--6% Gold Loan of 1928 Due Jan. 1, 1961:
    $1,000--1264, 1273, 1288, 1359, 1382, 1393, 1394, 1409, 1445, 1451, 1491, 1569, 1609, 1612, 1618, 1626, 1638, 1643, 1687, 1698, 1711, 1738, 1924, 1925, 1932, 1934, 2110, 4111, 4967, 15048, 15254, 15342, 15343, 21363, 26403, 26441, 30840, 34642, 37801, 38053, 39004, 39005, 39036, 39700, 40718, 44191.
    $500--268, 288, 474, 657, 658, 2115, 2294.
    Chile, Republic of, External Sinking Fund Gold--6% of 1929, Due 1962:
    $1,000--39, 59, 60, 144, 210, 223, 224, 247, 248, 3237, 7208, 7342, 8759.
    $500--316, 317, 555, 556, 573, 586, 592, 593, 594, 630.
    Chile, Republic of, External Sinking Fund Gold--6% of 1930 Due 1963:
    $1,000--32, 186, 202, 231, 288, 289, 290, 291, 292, 293, 294, 347, 350, 351, 385, 5681, 14425, 16065, 16428, 18264, 21244.
    $500--D 97, D 98.
    Chile, Republic of--7% Bonds, 1922/42:
    $1,000--1139, 6734, 10040, 10461, 14099.
    Chilean Consolidated Municipal Loan External Sinking Fund Gold 7% Series A, 1929/60:
    $1,000--27, 34, 35, 36, 37, 133, 162, 314, 421, 422, 431, 432, 433, 434, 435, 464, 465, 535, 608, 609, 710, 725, 769, 802, 1507, 1508, 4575, 6629, 6630, 7094, 8487, 10556, 10557, 11395, 11396.
    $500--21, 95, 137, 138, 139, 154, 168, 180, 209, 216, 281, 286, 287, 288, 289, 290, 291, 342, 343, 344.
    Chinese Republic--5% Bonds 1925/48:
    $50--781737, 781738, 781747, 781753, 781756, 781777, 781780, 781781, 781788, 781799.
    Colombia, Republic of--4% Bonds 1934/46:
    $30--E 18308, E 47740.
    Colombia, Republic of--External Sinking Fund Gold 6% Loan of 1927 Due January 1, 1961:
    $1,000--479, 698, 926, 13649, 16001, 16493.
    $500--159, 425.
    Cuba, Republic of--External Gold 4\1/2\% Loan of 1909 Due August 1949:
    $1,000--2312, 9804, 9805, 10239, 10283.
    Cuba, Republic of--External Sinking Fund 4\1/2\% of 1937 Due 1977:
    $1,000--79691, 79886, 79891, 80755.
    $100--6597, 6602.
    Denmark, Kingdom of--External Gold 4\1/2\% Loan of 1928 Due 1962:
    $1,000--459, 710, 2182, 2939, 4572, 5101, 14620, 17538, 25691, 26514, 26515, 35976, 37012, 38205, 38811, 39701, 42515, 44317, 48930, 50724, 52276, 52744, 54646, 54817, 54822, 54823.
    Denmark, Kingdom of--External Gold 5\1/2\% Loan of 1925 Due 1955:
    $1,000--5591, 5829, 27520.
    $500--1440.
    Denmark, Kingdom of--External Gold 6% Loan of 1921 Due 1942:
    $1,000--26032.
    Dominican Republic Customs Administration--20 year 5\1/2\% Gold Loan of 1922 - 6 Due 1961:
    $1,000--197, 266, 276, 400, 426, 757, 900, 1072, 1442, 1992, 2672, 2793, 2795, 2896, 2946, 3667, 4130, 4544, 4577, 5552, 5667, 5789, 6376, 7176, 7322, 8507, 8544, 8757, 9777.
    Dominican Republic Customs Administration, Sinking Fund Gold 5\1/2\% Loan of 1926 - 1928 Due 1969 First Series:
    $1,000--928, 2864, 3004, 4871, 4872, 4873, 4874.
    Dominican Republic--Sinking Fund Gold 5\1/2\% Loan of 1926 - 1928--
Due 1969:
    $1,000--97, 101, 114, 2468, 2479, 2527, 2633, 3363.
    $500--101, 109, 114, 115.
    Frankfort on Main, City of--7% Bonds, 1925 - 1945:
    $1,000--3576.
    German Atlantic Cable Company--7% Bonds 1925 - 1945:
    $1,000--35, 36, 45, 46, 48, 49, 68, 69, 86, 101, 127, 145, 156, 160, 161, 162, 164, 181, 182, 184, 193, 215, 274, 300, 319, 335, 351, 413, 420, 425, 438, 479, 485, 592, 593, 665, 697, 736, 779, 802, 826, 868, 910, 1004, 1051, 1052, 1115, 1181, 1183, 1186, 1188, 1266, 1741, 1876, 1879, 1881, 1972, 2101, 2147, 2227, 2340, 2343, 2366, 2414, 2463, 2521, 2522, 2662, 2705, 2707, 2729, 2737, 2742, 2751, 2752, 2763, 2861, 2950, 2957, 2977, 2984, 2987, 3159, 3249, 3263, 3347, 3394, 3432, 3484, 3507, 3568, 3576, 3583, 3585, 3586, 3591, 3603, 3612, 3620, 3636, 3640, 3690, 3751, 3791.
    $500--7, 16, 83, 180, 296.
    Germany, Government of--7% 1924 Due 1949:
    $1,000--55040, 55043, 66023, 66024, 66025, 66026, 66027, 66028, 66030, 66031, 66032, 66033, 66034, 66035, 66036, 66038, 66039, 66040, 66041, 66043, 66044, 66045, 66047, 66048, 66049, 66050, 98105.
    Haiti, Republic of--6% 1922 - 1952:
    $1,000--4988, 8031.
    Hellenic Republic Water Works--Gold Bonds 4% 1985:
    Face value not stated--673, 3066, 5871, 6890.
    Japan, Empire of--6\1/2\% Sinking Fund Gold Bonds of 1924 Due 1954:
    $1,000--53833.
    Mexican Funding Notes (coupon 1 and 2):
    $4.00--3487, 3488.
    $8.00--18646, 19968, 20658.
    $9.00--6296, 6297, 6298, 65684.
    $20.00--35567, 35568, 35569, 35570, 35571.
    $70.00--35567, 35568, 35569, 35570, 35571.
    Milan, City of--External Sinking Fund Gold 6\1/2\% Loan of 1927 Due 1952:
    $500--278, 586.
    $100--585, 1007, 1186, 1188.
    Mortgage Bank of Chile--Guaranteed Sinking Fund 6% Bonds 1928--
Maturity 1961:
    $1,000--1548, 1549.
    Mortgage Bank of Chile--Guaranteed Sinking Fund Gold Loan 6\1/2\% Bonds 1925 - 1957:
    $1,000--4544, 5091.
    National Economic Bank of Warsaw, 7% or 4\1/2\% 1928 Due 1966:
    $1,000--222, 223, 224, 225, 226.
    National Railways of Mexico--4\1/2\% Prior Lien Sinking Fund Gold Due 1957:
    $1,000--34468.
    New South Wales, State of--External Sinking Fund Gold 5% Loan of 1927 Due 2 - 1 - 57:
    $1,000--2308, 7618, 10723, 16152, 16833, 17249, 17250, 17377, 17499, 17502, 17528, 17552, 17553, 17574, 17634, 17635, 19516, 21991, 23587, 23629.
    $500--226, 522, 523, 527, 528, 529.
    New South Wales, State of--External Sinking Fund Gold 5% Loan of 1927 Due April 1, 1958:
    $1,000--3340, 5382, 5713, 5951, 18942, 21338.
    Norges Kommunal Bank, S. F. Gold--5% 1930 Due 1970:
    $1,000--1584.
    North German Lloyd--Sinking Fund 4% Bonds 1933 - 1947:
    $1,000--6655.
    Norway, Kingdom of--6% Bonds 1923 Due 1943:
    $1,000--18507.
    Nova Scotia, 4\1/2\%, 1927 - 1952:
    $1,000--3691.
    Panama, Republic of--External Secured Sinking Fund Gold 5% Loan Series A Due 1963:
    $1,000--93, 249, 577, 578, 3070, 8660, 9822, 10774.
    $500--69.
    Peru, Republic of (National Loan)--External Sinking Fund Gold 6% First Series Due 1960:
    $1,000--1380, 2188, 2189, 2563, 2621, 2623, 2893, 3864, 4400, 4414, 4416, 4422, 4471, 4490, 4575, 4576, 4577, 4609, 4610, 4611, 4613, 4614, 4619, 4633, 4689, 4702, 4729, 4731, 4753, 4790, 4791, 4859, 4882, 4887, 4898, 4904, 4905, 4910, 4919, 4945, 4985, 4989, 5054, 5055, 5059, 5060, 5065, 5108, 5133, 5134, 5182, 5226, 5253, 5258, 5259, 5260, 5261, 5262, 5263, 5264, 5265, 5266, 5281, 5304, 5305, 5306, 5344, 5360, 5377, 5379, 5386, 5427, 5428, 5436, 5453, 5495, 5507, 5528, 5558, 5589, 5604, 5773, 5823, 6210, 6325, 6326, 6941, 7082, 9656, 10164, 10420, 11359, 11404, 11770, 11995, 12083, 12446, 12921, 14325, 14328, 14510, 15191, 15228, 15243, 15490, 15604, 15921, 16376, 16377, 17909, 18542, 18844, 18919, 19259, 19362, 19763, 20605, 20606, 20744, 21337, 21760, 22227, 23621, 24902, 24927, 27485, 28587, 28924, 29190, 29352, 29388, 29393, 30229, 31360, 31954, 32190, 32191, 32192, 32193, 33246, 34183, 35714, 36918, 37186, 39832, 40328, 40756, 42487, 42637, 42731, 44495, 45129, 45461, 45790.
    $500--452, 459, 481, 482, 483, 510, 521, 531, 559, 582, 583, 584, 585, 596, 650, 651, 828, 835, 858, 863, 877, 878, 879, 882, 883, 889, 900, 905, 906, 907, 926, 941, 970, 971, 986, 997.
    Peru, Republic of (National Loan)--External Sinking Fund Gold 6% Second Series Due 1961:
    $1,000--11, 14, 58, 69, 70, 77, 87, 88, 137, 142, 148, 158, 159, 217, 218, 228, 239, 293, 294, 313, 314, 315, 435, 436, 459, 501, 502, 516, 540, 570, 571, 582, 598, 600, 610, 611, 647, 648, 656, 662, 670, 702, 720, 733, 753, 769, 779, 839, 858, 863, 870, 883, 886, 887, 947, 1029, 1062, 1066, 1079, 1080, 1081, 1141, 1148, 1149, 1150, 1151, 1156, 1162, 1163, 1231, 1251, 1343, 1344, 1345, 1346, 1347, 1348, 1349, 1483, 1584, 1993, 3563, 4640, 4656, 4657, 4658, 4659, 5286, 6145, 6422, 8007, 8008, 8010, 8473, 9467, 9691, 9746, 10417, 13383, 14871, 15754, 16711, 16712, 16976, 17157, 17158, 20355, 21762.
    $500--15, 68, 79, 85, 86, 87, 88, 125, 177, 181, 193, 252, 285, 290, 293, 338, 368, 398, 1717.
    Peru, Republic of--Secured Sinking Fund Gold 7% (Tobacco) Loan Series of 1927 Due 1959:
    $1,000--88, 128, 197, 894, 1725, 1837, 2192, 2212, 2216, 2218, 2219, 2221, 2268, 2269, 2287, 2290, 2344, 2365, 2366, 2372, 2383, 2384, 2407, 2409, 2416, 2440, 2497, 2507, 2508, 2536, 2586, 2620, 2621, 2625, 2656, 2699, 2750, 2889, 2891, 2899, 2942, 2943, 2952, 2965, 2969, 3004, 3028, 3049, 3052, 3055, 3056, 3057, 3058, 3059, 3083, 3089, 3104, 3111, 3112, 3132, 3152, 3730, 3944, 9513, 9630, 9633, 9813, 9846, 9847, 9865, 9948, 9969, 11038, 11332, 11606, 12359, 12720, 12830, 13061, 13150, 13449, 13756, 14136, 14432.
    $500--305, 322, 326, 346, 374, 396, 399, 402, 474, 481, 506, 509, 535, 563, 576, 579, 587, 705.
    Poland, Republic of, 4\1/2\% External Sinking Fund Bonds (Formerly 7% Extended From 1947) Due 1968:
    $1,000--1672, 1673, 1674.
    Queensland, State of (Australia)--25 Year Sinking Fund External Gold 6%, Due February 15, 1947:
    $1,000--3847.
    $500--1025, 1027.
    Rio de Janeiro, State of--External Secured Sinking Fund Gold 6\1/2\% of 1929 Due 1959:
    $1,000--5212, 5675.
    Rio Grande Do Sul (Brazil)--6% Bonds 1928 - 1968:
    $1,000--7227.
    Ruhr, Gas Corporation--6\1/2\% Bonds 1928 - 1953:
    $1,000--1846A, 7688.
    Saarbruecken, City of--6% Bonds 1927 Due 1953:
    $1,000--2807, 2808, 2809.
    Sao Paulo, State of--7% Due 1956:
    $1,000--4673.
    Sao Paulo, State of--25 Year External 8% Gold Loan of 1925 Due 1950:
    $1,000--68, 501, 564, 580, 764, 769, 796, 927, 930, 931, 932, 933, 934, 958, 959, 960, 961, 968, 969, 1047, 1048, 1049, 1091, 1109, 1123, 1171, 1172, 1226, 1273, 2377, 3182, 3372, 3427, 3675, 5517, 6211, 7836, 8295, 9112, 9113, 9808, 10456, 11170, 12181, 12274, 12275, 13034.
    $500--9, 10, 51, 57, 636, 1507, 1583, 1584, 1585, 1586, 1587, 1588, 1589, 1590, 1591, 1592, 1621, 1622, 1623, 1624, 1625, 1626, 1751, 1752, 1753, 1754, 1808, 1809, 1890.
    Uruguay, Republic of--External Readjustment 3\3/4\, 4, 4\1/8\% Due 1979:
    $1,000--26128, 26129, 26135, 26137, 26138, 26139, 26140, 26141, 26142, 31374, 31375, 31376, 31377, 31378, 31379, 35638, 35639, 35679, 35680, 35714, 35715, 35729, 35732, 35738, 35793, 35794, 35877, 35878, 35962, 35977, 36001, 36002, 36003, 36044, 36077, 36078, 36086, 36095, 36360, 36362, 36363, 36435, 36436, 36437, 36440, 36457, 36458, 36459, 36460, 36461, 36836, 37312, 37313, 37314, 37322, 37323, 37327, 37329, 37330, 37344, 37345, 37349, 37350, 37351, 37352, 37378, 37400, 38607, 38608, 39654, 39656, 39657, 39659, 39660.
    $500--2147, 2182, 2183, 2217, 2218, 2229, 2230, 2248, 2249, 2360, 2361, 2362, 2512, 2518, 2519.
    Vera Cruz & Pacific Railroad Company-- 4\1/2\% Guaranteed 1st Mortgage Gold Bonds Due 1934:
    $1,000--1305, 1766, 4946, 6322.
    Vienna, City of (Wiener Stadtanleihe)-- Gold Issue 6% 1927 - 1952:
    $1,000--12022, 12653, 12953.
    $500--1252.
    Westphalia United Electric Power Corporation (Vereingte Elektrizitaetswerke Westfalen A.G.) First Sinking Fund Gold--6% Series A, Due 1953:
    $1,000--7129, 10720, 14341.
    Yugoslavia, Kingdom of, Funding 5%, First Series Issued, 1932 Due 1956:
    $500--1245.
    $100--10938, 10939, 10945, 10946, 12912, 16660, 16661, 16662, 16674.

    Note: For interpretation of 520.205, see 520.340 (Public Circular No. 40).

[31 FR 7333, May 20, 1966; 31 FR 8404, June 16, 1966, as amended at 31 FR 13001, Oct. 6, 1966; 35 FR 11905, July 24, 1970; 41 FR 27963, July 8, 1976]


520.205b   General Ruling No. 5B.

    (a) Prohibitions with respect to domestic scheduled securities. Except as authorized by license or other authorization specifically referring to this section from the Director, Office of Foreign Assets Control, Treasury Department, or as required or authorized by paragraph (e) of this section, any transfer of, dealing in, or other transaction with respect to, a domestic scheduled security or any obligation, interest, or claim of which such security is evidence, is prohibited.
    (b) Definition. As used in this section, the term domestic scheduled securities shall include all securities wherever located which appear on the list in paragraph (g) of this section, entitled ``Domestic Scheduled Securities,'' including coupons appertaining thereto.
    (c) Notice. The provisions of this section shall apply whether the parties to any act with respect to domestic scheduled securities prohibited by this section, or persons subject to the requirements with respect to domestic scheduled securities imposed by this section, do or do not have actual notice or knowledge that such securities are domestic scheduled securities.
    (d) Effect of a prohibited transaction. Any transaction in violation of the prohibitions contained in paragraph (a) of this section shall be null and void.
    (e) Duty of persons bringing, receiving, or holding domestic scheduled securities. (1) Domestic scheduled securities brought from a foreign country to the United States by any person shall be forwarded by such person within five (5) days after his arrival in the United States to the Federal Reserve Bank of New York together with a statement in triplicate setting forth the following:
    (i) His name and address;
    (ii) A complete description of the securities.
    (iii) The name and address of the person from whom he received the securities and the date of receipt; and
    (iv) The circumstances under which the securities were received.
    (2) Domestic scheduled securities mailed or otherwise sent from a foreign country to any person within the United States shall be forwarded by such person within five (5) days after receipt thereof to the Federal Reserve Bank of New York together with the above-specified statement in triplicate.
    (3) Domestic scheduled securities held on January 20, 1951, by any person within the United States (whether for himself or for any such person) shall within 30 days thereafter be forwarded by such person to the Federal Reserve Bank of New York together with the above-specified statement in triplicate. Any such person who on January 20, 1951, held domestic scheduled securities as security for an obligation owing to him shall not be required to forward the securities to the Federal Reserve Bank of New York, but shall be required to file the above-specified statement in triplicate with the Office of Foreign Assets Control, Treasury Department, Washington, DC 20220, together with a statement of the circumstances under which the securities are being held.
    (4) Domestic scheduled securities received by any person within the United States (whether for himself or for any other person) shall be forwarded by such person within five (5) days after receipt thereof to the Federal Reserve Bank of New York together with the above-specified statement in triplicate.
    (5) Any person required by the provisions of paragraph (e) (3) or (4) of this section to forward securities to the Federal Reserve Bank of New York may, instead, return such securities to the person from whom he received them, if the latter is within the United States. The person initiating such return shall file a report with the Office of Foreign Assets Control, Treasury Department, Washington, DC 20220, giving the name and address of the person to whom he makes such return and he shall advise such person that they are domestic scheduled securities which should be deposited with the Federal Reserve Bank of New York pursuant to this ruling unless they are returned with a similar notice to the person in the United States from whom they were received. The last person in the United States to whom such securities are returned under this paragraph shall forward them to the Federal Reserve Bank of New York, together with the above-specified statement in triplicate with respect to his original receipt of the securities. In case securities are returned under the rules of a securities exchange, an association of securities dealers, or a similar organization, the last member of an exchange or similar organization or dealer to whom such securities are returned under such procedure, if he is not the last person to whom such securities are returned hereunder, shall file with the Office of Foreign Assets Control, Treasury Department, Washington, DC 20220, the above-specified statement in triplicate with respect to his original receipt of the securities together with the date on which he returned such securities to the person from whom he received them.
    (6) Domestic scheduled securities held by any person not within the United States shall be deposited with the Federal Reserve Bank of New York together with the statement specified in paragraph (e)(1) of this section on or before July 31, 1951.
    (7) Acts or transactions required or authorized by the provisions of this paragraph are licensed to the extent, and only to the extent, of permitting compliance therewith.
    (f) Disposition of securities delivered to Federal Reserve Bank of New York. The Federal Reserve Bank of New York shall act only as fiscal agent of the United States under this section, and shall receive and hold securities delivered to it pursuant to this section as such fiscal agent, subject to the further order of the Director, Office of Foreign Assets Control. Applications for release of securities so held may be filed with the Office of Foreign Assets Control, Treasury Department, Washington, DC 20220.
    (g) Appendix.

Domestic Scheduled Securities

bonds

    American Foreign Power Company, Inc., Debenture Gold 5% Due 2030:
    $1,000--46003, 46048, 46049, 46512.
    $500--855.
    American I. G. Chemical Corporation 5\1/2\% Bonds 1929/49:
    $1,000--10189.
    American Smelting & Refining Company 5% 1st Mortgage 30 - Y Bonds:
    $1,000--67.
    Associated Gas & Electric Corporation Sinking Fund Income Debenture 4\1/2\% Due 1978:
    $1,000--402, 425, 621, 959, 990, 1042, 1187, 1188, 1316, 1473, 2118, 2413, 2482, 2844, 3057, 3059, 3603, 3691, 3692, 3748, 3796, 3893, 3904, 3905, 3947, 3993, 4069, 4074, 4138, 4139, 4184, 4185, 4332, 4356, 4357, 4365, 4374, 4379, 4380, 4381, 4382, 4383, 4384, 4385, 4862, 5316, 5317, 5333, 5777, 5778, 6196, 6197, 6653, 6659, 6822, 6825, 6856, 7119, 7141.
    Associated Gas & Electric Corporation Sinking Fund Income Debenture 5\1/2\% Due 1977:
    $1,000--3272, 4273, 4286, 7293, 7545, 9491, 9904, 10264, 14186, 14455, 14974, 15005, 15324, 18034, 18490, 18544, 23333, 24073, 25055, 25420, 25495, 26348, 26588, 27510, 29238, 30039, 32684, 33483, 34283, 34284, 34290, 34585, 36045.
    Atchison, Topeka and Santa Fe Railway Company (The)--Convertible Gold 4% of 1905 Due 1955:
    $1,000--799, 32495, 36310, 36311, 48082.
    Atchison, Topeka and Santa Fe Railway Company (The)--Convertible Gold 4% Due 1960:
    $1,000--38234.
    Atchison, Topeka and Santa Fe Railway Company (The)--General Gold 4% Due 1995:
    $1,000--918, 1297, 1865, 2531, 2917, 3432, 5466, 5721, 6728, 7445, 10016, 11368, 13612, 17965, 18507, 23191, 25016, 26636, 32365, 34564, 35210, 36019, 38088, 38151, 53302, 56750, 59190, 67164, 72477, 72931, 73024, 73255, 74733, 77966, 78273, 79437, 79906, 80845, 84327, 89953, 89954, 93671, 96519, 99516, 117110, 117700, 123787, 125036, 125520.
    $500--2314, 5257, 5465, 5729, 6654, 8272, 10252, 15734, 35513, 37540, 38622, 41072, 41074, 42239, 42391.
    Baltimore and Ohio Railroad Company (The)--4% Bonds, 50 - Y, Due 1948:
    $1,000--50081, 50082, 50083.
    Baltimore and Ohio Railroad Company (The)--4\1/2\% Bonds, 1930 - 60:
    $1,000--3113.
    Baltimore and Ohio Railroad Company (The)--5% Bonds, 1926/2000:
    $1,000--25263.
    Bethlehem Steel Corporation 3\1/2\% Bonds 1937/52:
    $1,000--28454, 28455, 36724, 43967.
    Bethlehem Steel Corporation 4\1/4\% Bonds 1935/60 Series D:
    $1,000--DM7290, DM20122.
    Central Pacific Railway Company--First Refunding Gold 4% Due 1949:
    $1,000--801, 1917, 3785, 4187, 5437, 5479, 7255, 7624, 9246, 9253, 9993, 10808, 13341, 13469, 13521, 14186, 14685, 14973, 16049, 19147, 19572, 26382, 30102, 31351, 31814, 33081, 33278, 34274, 60258, 77471, 77739, 80487, 85166, 89119, 89129.
    $500--2293, 7810, 8159, 8326, 12174.
    $100--758, 1260, 1350, 1891, 1957, 1958, 2127.
    Chesapeake & Ohio Railway Co. (The) General Gold 4\1/2\% Due 1992:
    $1,000--46884.
    Chicago & Erie Railroad Co.--First Gold 5% Due 1982:
    $1,000--2162, 6495, 9064.
    Chicago, Milwaukee, St. Paul & Pacific Railroad Co.--50 Year Mortgage 5% Series A, Due 1975:
    $1,000--2501, 3073, 3314, 3966, 4183, 4296, 4883, 6717, 6718, 6719, 11166, 14027, 15291, 15293, 15294, 15631, 15673, 16000, 16495, 16712, 17409, 17579, 20217, 20499, 21994, 22091, 22112, 24111, 24560, 26067, 27499, 29880, 32257, 33834, 34456, 35384, 35792, 35793, 36877, 37458, 38396, 38736, 38749, 38941, 38945, 39019, 39032, 39179, 39180, 39205, 39298, 39316, 39374, 39386, 39411, 39933, 40888, 41765, 43562, 46680, 48938, 49953, 49956, 50459, 53410, 55463, 55464, 55510, 55533, 56437, 56500, 57517, 59356, 61246, 63114, 63115, 63982, 64409, 65265, 65266, 66284, 66920, 67355, 68026, 68027, 68363, 68364, 68585, 70021, 71607, 74394, 75967, 76562, 77500, 78982, 79674, 80235, 82701, 83024, 83515, 84086, 84087, 84088, 84089, 84090, 84091, 84092, 84093, 84094, 85433, 85775, 86421, 86427, 87037, 88565, 89290, 89741, 89779, 89782, 89818, 90308, 90581, 90968, 92950, 93163, 103394, 124560.
    $500--1615, 1854, 3692.
    $100--22525, 22526, 39295, 39296.
    Chicago, Milwaukee, St. Paul & Pacific Railroad Co.--Convertible Adjustment Series A 5%, 2000:
    $1,000--4, 11, 683, 1172, 1343, 2012, 2116, 2117, 2747, 2871, 2902, 2903, 2904, 3093, 3330, 4177, 5168, 5193, 5937, 6044, 6045, 6482, 7631, 7822, 8303, 8309, 8493, 8694, 8698, 8970, 9004, 9006, 9179, 9195, 9573, 10598, 11436, 11615, 12071, 12649, 13885, 14014, 15068, 15765, 16334, 16529, 16568, 16888, 17022, 17606, 17893, 18109, 18191, 18192, 18200, 18230, 18244, 18269, 18326, 18337, 18344, 18462, 18478, 18535, 18537, 18690, 18730, 18955, 19481, 20029, 20121, 20244, 20269, 20318, 20329, 20375, 20376, 20572, 20653, 20815, 20836, 20938, 21216, 21229, 21242, 21245, 21637, 21672, 21840, 21916, 22288, 22377, 22380, 22406, 22434, 22561, 22825, 22994, 23034, 23772, 23846, 24025, 24414, 24415, 24554, 24754, 25180, 25332, 25911, 25916, 26112, 26130, 26177, 26196, 26199, 26806, 26817, 27098, 27235, 27496, 27600, 27778, 28074, 28161, 28186, 28501, 28689, 28797, 28948, 29008, 29067, 29093, 29614, 29749, 29847, 29869, 29929, 30074, 30094, 30160, 30255, 30705, 30725, 31393, 31632, 31947, 32178, 32222, 37394, 37423, 37494, 39565, 39581, 39619, 39936, 40109, 40343, 40394, 40395, 40396, 40397, 40505, 41516, 41712, 41713, 41922, 41924, 42090, 42093, 42206, 42324, 42371, 42476, 42623, 42831, 43289, 43391, 43524, 43740, 44451, 44633, 44664, 44784, 45045, 45046, 45103, 45139, 45171, 45248, 45289, 45816, 45824, 45825, 45860, 45954, 46066, 46350, 46518, 46637, 47146, 47278, 47324, 47360, 47507, 47604, 47701, 47704, 48090, 48580, 48586, 48843, 48884, 48957, 49088, 49435, 49462, 49566, 49583, 49650, 49674, 49708, 49750, 49768, 50548, 50651, 50984, 51157, 51177, 51796, 51842, 51944, 52162, 52591, 53005, 52414, 53543, 53670, 53686, 54110, 54250, 54282, 54456, 54461, 54649, 54674, 54688, 55008, 55016, 55133, 55376, 55648, 55803, 55968, 56431, 56492, 56533, 56554, 56680, 57580, 58155, 58427, 58630, 58798, 58800, 60052, 60724, 61091, 62158, 62335, 62525, 62549, 62918, 63259, 63362, 63570, 63571, 63935, 64060, 64071, 64072, 64197, 64661, 65369, 65550, 65662, 65674, 65742, 65746, 65824, 66036, 66474, 66492, 66771, 66935, 66973, 67032, 67038, 67120, 67578, 67726, 67843, 67892, 67931, 68457, 68614, 68999, 69049, 69213, 69369, 70338, 70498, 70599, 70713, 70775, 70871, 71021, 71074, 71100, 71712, 71779, 71812, 72189, 72281, 72316, 72408, 72834, 72978, 73332, 73628, 73998, 74682, 74693, 74960, 74993, 75188, 75738, 75739, 76409, 77128, 77195, 78462, 78465, 78466, 78467, 78753, 78891, 78945, 79057, 79149, 79170, 79211, 79233, 79484, 79722, 79812, 79939, 80438, 80559, 80813, 81185, 81341, 81367, 81508, 81514, 81577, 81751, 81767, 81768, 81955, 82061, 82086, 82087, 82379, 82398, 82521, 83776, 84169, 84883, 85600, 86128, 86170, 86317, 88402, 88935, 90412, 91574, 93042, 93685, 93872, 94241, 94247, 94250, 94251, 94252, 94253, 94254, 94255, 94256, 94257, 94258, 94259, 94268, 94544, 94617, 95012, 95423, 96104, 96240, 96284, 96457, 96515, 96524, 96645, 96718, 97891, 98558, 100041, 100117, 100135, 100289, 100643, 102092, 102279, 102902, 103059, 103269, 103510, 103518, 103519, 104425, 104479, 104512, 104756, 105623, 105759, 105932, 106218, 106839, 109243, 109317, 109472, 109786, 110079, 110717, 111137, 111221, 111222, 112870, 113085, 113233, 113619, 113700, 113705, 114208, 114589, 114687, 114737, 114857, 115296, 115387, 116473, 116825, 116826, 117300, 117829, 118056, 118237, 118508, 118605, 118721, 119790, 119932, 120085, 120250, 120260, 120522, 120542, 120909, 120953, 121145, 121169, 121479, 122247, 122843, 122965, 122991, 123874, 124012, 124188, 124526, 124644, 124785, 125504, 125806, 125962, 126334, 126335, 126353, 126393, 126412, 126527, 126880, 127276, 127683, 127850, 128214, 128237, 128468, 128689, 128773, 128782, 129244, 129245, 129246, 129456, 129499, 129655, 129673, 129921, 130488, 130807, 131407, 132887, 133564, 133567, 133780, 133822, 133994, 134248, 134534, 134721, 135763, 136731, 136772, 137254, 137734, 139444, 139479, 139770, 139902, 139931, 140688, 141115, 141177, 141476, 141639, 141701, 141750, 141787, 141874, 142225, 142300, 142336, 142338, 142375, 144013, 144413, 144419, 144550, 144715, 144809, 145256, 145297, 145648, 145915, 145942, 145943, 146066, 146101, 146110, 146370, 146697, 147106, 147113, 147644, 147763, 148024, 148943, 149290, 149313, 149314, 149315, 149454, 149959, 150851, 150932, 151138, 152035, 152049, 152071, 152081, 152465, 153559, 153828, 154091, 154092, 154093, 155792, 156342, 156343, 156620, 156924, 157881, 158646, 159022, 159061, 159062, 159291, 159406, 160372, 161138, 161165, 161641, 162505, 163734, 164255, 164256, 164278, 164694, 164806, 165254, 165419, 165435, 165645, 165689, 165923, 166600, 166815, 167093, 167547, 167885, 168023, 168372, 168413, 168763, 169015, 169026, 169568, 169691, 169969, 170020, 170021, 170403, 170629, 170888, 170962, 170963, 170969, 171256, 171257, 171258, 171259, 171260, 171403, 171500, 171693, 171741, 171791, 172055, 172259, 172261, 172390, 172711, 173144, 173148, 180377, 180521, 180595, 180854, 180990, 181324, 181794, 181899, 182086, 182245, 182418, 182507,
    $500--234, 293, 476, 710, 1113, 1387, 3698, 4319, 4462, 4799, 5388, 5687, 5918, 6117, 6495, 7414, 7685, 7700, 7778, 7779, 7852, 8603, 9010, 9130.
    Chicago, Rock Island & Pacific Railway Company--First and Refunding Mortgage 4% 1934:
    $1,000--3584, 26093, 36938.
    Chicago, Rock Island & Pacific Railway Company--4% Bonds 1927/52:
    $1,000--14765.
    Chicago, Rock Island & Pacific Railway Co. Convertible Gold 4\1/2\% 1930/60:
    $1,000--1698, 1699, 1700, 21488.
    Cities Service Company--Convertible 5% Gold Debenture, 1950:
    $1,000--9960, 15450, 23489, 23638, 23691, 28666, 47264, 56406, 74444, 76525, 89930, 101172, 106178.
    Cities Service Company--5% Gold Debentures, 1958:
    $1,000--617, 1185, 1426, 3740, 4018, 4244, 5561, 6104, 6302, 6303, 7726, 7768, 8494, 8722, 8723, 8791, 9840, 10192, 10351, 11158, 11824, 12442, 12583, 13776, 14807, 14879, 15309, 15763, 16067, 16068, 16069, 16070, 16228, 18514, 19011, 19120, 19455, 19883, 20595, 21421, 21470, 21538, 22028, 24505, 24569, 24965, 26548, 26549, 26550, 26790, 27035, 27237, 27522, 30600, 30681, 30817, 34431, 34629, 35654, 38594, 38652, 38860, 39179, 40007, 40457, 42401, 42402, 42462, 44763, 45613, 46472, 46830, 48399, 48524, 48784.
    $500--107, 181.
    Cities Service Company--5% Gold Debenture, 1963:
    $1,000--12570.
    Cities Service Company--Refunding 5% Gold Debenture, 1966:
    $1,000--1005, 1724, 2564, 2565, 2927, 3219, 4026, 4184, 4906, 7228, 7229, 7787, 8112, 8976, 9012, 9864, 10366, 10820, 11011, 11074, 11847, 11963, 13085, 13433, 16526, 16832, 17498, 17699, 17866, 17921, 17999, 18029, 18031, 18393, 18772, 18959, 19067, 20283.
    $500--781, 1662, 2302, 3247.
    Cities Service Company 5% Gold Debenture, 1969:
    $1,000--306, 460, 556, 603, 653, 943, 1158, 1461, 6035, 7809, 9682, 10958, 11397, 11465, 11527, 12734, 12766, 14123, 16158, 16495, 16645, 16977, 17846, 17995, 21329, 21338, 22426, 22505, 22663, 22688, 24085, 24086, 24087, 24088, 24089, 24249, 25028, 25298, 25304, 26464, 27049, 29658, 29969, 30930, 31304, 32236, 34932, 35713, 36172, 37550, 38584, 38886, 39012, 39775, 39777, 39830, 40653, 40654, 41522, 41597, 41651, 41666, 41697, 41847, 41848, 41849, 41877, 41897, 41902, 41977, 42469, 42671, 42743, 42767, 42880, 42881, 43012, 43105, 43384, 44533, 44687, 45314, 45750, 45862, 46986, 47089, 47307, 47616, 47842, 48114, 48148, 48222, 48285, 48966, 49031, 49068, 49934.
    Cities Service Power and Light Company--Debenture 5\1/2\%, Due 1949:
    $1,000--1777, 4834.
    Cities Service Power and Light Company--Debenture 5\1/2\%, Due 1952:
    $1,000--6317, 9745, 17671, 17994, 18572, 18589, 26348, 43135, 44536.
    Cuba Company (The)--3% (Formerly 6% Bonds 1905 Due 1955):
    $1,000--2592, 3484, 3782, 3884.
    Cuba Railroad Company (The)--First Gold 5% Due 1952:
    $1,000--506, 977, 1363, 1439, 1570, 1716, 2123, 2419, 2731, 2732, 2758, 2759, 2760, 2761, 2762, 2763, 2764, 3363, 3385, 3567, 3894, 4395, 5378, 5483, 6099, 6251, 6282, 6634, 6636, 6849, 6993, 7119, 7859, 7893, 7914, 7915, 8308, 8417, 8953, 9694, 9737, 10050, 10085, 10359, 10538, 10666, 10898, 10934, 11379, 11525, 11847, 11865, 12068, 12265, 12374, 12445, 12650, 12683, 13056, 13100, 13545, 13629, 13830, 13946, 14369.
    Cuba Railroad Company--Improvement and Equipment Gold 5% Due 1960:
    $1,000--38, 1348.
    Dallas and Waco Railway Company--First Gold 5% Due 1940:
    $1,000--564.
    Delaware & Hudson Company--4% Bonds 1908, Due 1943:
    $1,000--587, 8856, 11067, 11068, 15436, 25345.
    Denver & Rio Grande Railroad Company--First Consolidated Gold 4% Due 1936:
    $1,000--13202, 17275, 24150, 26544.
    $500--208, 214.
    Denver and Rio Grande Railroad Company--First Consolidated Gold 4\1/2\% Due 1936:
    $1,000--36927.
    Denver & Rio Grande Western Railroad General Gold 5% Due 1955:
    $1,000--19514, 19538, 19621, 19622, 22219, 23096, 23097, 26045, 26091, 26092, 26093, 26094, 26095, 26096.
    $500--465, 466, 467, 468, 469, 470, 1255, 1302, 1364, 1375, 1559, 1676, 2099.
    $100--556, 557, 558, 2139, 2140, 2141, 2142, 2143, 2144, 2145, 2703, 2906, 2907, 2988, 2989, 3009, 3010, 3011, 3012, 3013, 3014, 3015, 3125, 3126, 3127, 3128, 3240, 3291, 3292, 3293, 3294, 3304, 3344, 3345, 3376, 4886, 4887, 4888, 5171, 5172, 5705, 5972, 6014, 6015.
    Des Moines & Fort Dodge Railroad--First Gold 4% 1925--Due 1935:
    $1,000--1810, 1811, 3020.
    Des Moines & Fort Dodge Railroad--4% Bonds (Certificates of Deposit):
    $1,000--T.M. 1829 - 774, T.M. 1831 - 776, T.M. 1887 - 1997, T.M. 1888 - 1998.
    Florida Central & Peninsular Railroad Company--First Consolidated Gold 5% Due 1943:
    $1,000--2109.
    Grand Trunk Western Railway Company--First Gold 4% Due 1950:
    $500--428, 860, 862.
    Havana Electric Railway Company--5% Consolidated Mortgage Gold Bonds Due 1952:
    $1,000--8669, 8711, 9151, 9152.
    Hudson & Manhattan R.R. Co.--Adjustment Income Gold Bonds 5% 1913/57:
    $1,000--20034.
    Illinois Central Railroad Company--Collateral Trust Gold 4% Due 1952:
    $1,000--1238, 1696, 1792, 2330, 4768, 5933, 6038, 7041, 7438, 7948, 7949, 9265, 12660, 12661, 12833.
    $500--15995, 15996.
    Illinois Central Railroad Company--Mortgage & Collateral, Gold 4% Due 1953:
    $1,000--578, 980, 2555, 3030, 3423, 3946, 4230, 4781, 5524, 9283, 9759, 11355, 12474, 12572, 15710, 16891, 19660, 19962, 19968, 20194.
    $500--22807, 22808, 25117, 27417, 27996.
    International Hydro-Electric System--Convertible Debenture Gold 6% Due 1944:
    $1,000--1644, 1806, 5596, 5702, 5720, 7458, 8009, 8151, 8409, 9934, 11542, 20537, 21002, 21033, 21038, 21094, 21111, 21842, 22120, 22794, 22857, 23897, 24014, 24421, 24481, 24523, 24778, 25145, 26798, 26939, 27249, 27803, 28270, 28392, 28524, 28529, 29861.
    International Mercantile Marine Co., Ltd.--First and Collateral Trust Gold 6% Due 1941:
    $1,000--337, 339, 340, 521, 522, 524, 526, 1374, 1432, 1570, 2171, 3410, 4258, 4265, 4308, 4489, 4579, 4601, 4602, 4603, 4604, 7869, 13289, 14031, 19606, 21311, 21392, 26918, 26930, 27699, 29973, 30263, 36098, 36129, 36130.
    $500--258, 469, 512, 563, 700, 745, 752, 1000, 1211, 1244, 1577, 1974, 1977, 2177, 2380, 2655, 2899, 3051, 3092, 3344, 3423, 3584, 3585, 3586, 3649, 3650, 3815, 3934, 4100, 4418, 4879, 7778.
    International Power Securities Corporation--Secured Gold 6\1/2\%, Series C Due 1955:
    $1,000--179, 1734, 1740, 1741, 1746, 1788, 1848, 1873, 1879, 1902, 1947, 1951, 3898, 7361, 9176.
    International Railways of Central America, First Gold 5% Sterling Issue, Due 1972:
    20--A1071, 4514, 5995, 6954, 6955, 8988.
    International Telephone & Telegraph Corporation--4\1/2\% Due 1952:
    $1,000--19320, 31983.
    International Telephone & Telegraph Corporation--Debenture Gold 5% Bonds 1930 Due 1955:
    $1,000--22427.
    Kansas City Fort Scott & Memphis Railway Co.--Refunding (Now First) Gold 4% Due 1936:
    $1,000--1864, 7594.
    Kansas City Southern Railway--3% 1st Mortgage Gold Due 1950:
    $1,000--359, 476, 646, 1092, 2028, 2097, 2378, 2423, 3139, 3407, 4810, 5652, 5900, 5956, 6446, 7084, 7469, 10525, 10723, 10744, 10784, 11244, 11497, 11765, 11933, 13502, 14404, 14546, 14964, 15261, 15532, 15762, 17275, 18156, 18331, 19951, 22334, 22335, 22419, 22839, 22973, 23223, 23772, 26265, 27033, 27288, 28813.
    Kansas City Southern Railway Co.--Refunding & Improvements Mortgage Bond 5% Due 1950:
    $1,000--861, 1647, 2830, 3165, 3298, 3407, 7866, 7951, 8425, 8437, 8439, 8689, 9230, 9387, 9960, 10467, 10781, 12710, 14713, 17058, 17338.
    Kansas City Terminal Railway Co.--First Gold 4% Due 1960:
    $1,000--24901, 33450, 34560, 34561.
    Long Island Railroad Co.--4% Refunding, Due 1949:
    $500--682.
    Louisville & Jeffersonville Bridge and Railroad Co.--First Gold 4% Due 1945:
    $1,000--970, 1785, 1814, 1983, 2429, 3193.
    Louisville & Nashville Railroad Co.--3\3/4\% Refunding 1921/2003:
    $1,000--16071, 16072, 17073.
    Louisville & Nashville Railroad Co.: Mobile and Montgomery Ry. First Gold 4\1/2\% Due 1945:
    $1,000--804, 1280.
    Louisville & Nashville R.R. Co., Southeast & St. Louis Division--
Second (Now First) 3% Due 1980:
    $1,000--2, 787, 1046, 1569, 1744, 2134, 2136.
    Minneapolis, St. Paul & Sault Ste. Marie Railway Company 4% Bonds 1888/1938:
    $1,000--2387, 23147, 25314, 36781.
    Missouri-Kansas-Texas Railroad Company--Prior Lien Gold 4% Series B Due 1962:
    $1,000--9014.
    $500--1308, 1313, 1411.
    $250--487, 841.
    Missouri-Kansas-Texas Railway Company First Gold 4% Due 1990:
    $1,000--628, 2708, 3106, 3419, 5125, 6200, 7392, 9923, 10250, 11532, 11597, 12595, 15304, 17118, 17427, 19374, 20042, 20135, 21037, 21097, 21168, 24598, 25429, 26763, 27583, 27759, 28315, 28724, 29197, 29255, 29267, 29314, 29588, 31726, 32539, 32749, 32789, 32892, 33194.
    $500--37340, 38471, 41005, 43344.
    Missouri-Kansas-Texas Railroad Company--Prior Lien 5% Series A Due 1962:
    $1,000--29248, 29485, 30865, 30866, 30867, 31199.
    $500--2205, 2261, 2562, 2573.
    $250--139, 1131, 1779.
    Missouri-Kansas-Texas Railroad Company--Cumulative Adjusted Mortgage Gold 5% Series A Due 1967:
    $1,000--46839, 47607.
    $500--2887, 3655, 3854, 3855, 4393, 4395, 4404.
    $100--6052.
    Missouri Pacific Railroad Company 4% General Mortgage Gold Bonds Due 1975:
    $1,000--1378, 1398, 1439, 1760, 2259, 2691, 2806, 3518, 4285, 4665, 4839, 5622, 5988, 6225, 6809, 7042, 7045, 7052, 8344, 8431, 8447, 8972, 9208, 9247, 9250, 9465, 9949, 10485, 10581, 10710, 10822, 11087, 11158, 11189, 11363, 11475, 11732, 11785, 11956, 12053, 12247, 12248, 12331, 12371, 12448, 12698, 12743, 12749, 12919, 13138, 13834, 14093, 14357, 14439, 14767, 15112, 15500, 15747, 16367, 17148, 17295, 17346, 17797, 17901, 18054, 19136, 19315, 19574, 19753, 20292, 20427, 20439, 20471, 20950, 21680, 22335, 22428, 23084 23308, 23385, 23387, 23390, 23436, 23542, 23771, 24597, 24908, 24909, 24910, 25069, 25152, 25229, 25339, 25350, 25555, 25738, 26180, 26205, 26372, 26441, 27505, 27506, 27911, 28112, 28453, 28494, 29050, 29243, 29353, 29471, 29695, 29788, 29889, 29934, 30246, 30506, 30678, 31268, 31541, 31578, 31666, 31711, 31773, 31799, 31842, 32290, 32548, 32740, 33161, 33274, 33281, 33349, 33736, 33783, 33909, 33974, 34370, 34497, 34699, 34709, 35100, 35373, 35374, 36142, 36234, 36342, 36889, 37177, 37929, 38002, 38226, 38428, 38654, 40166, 40213, 40414, 40422, 40425, 40570, 41411, 41609, 42073, 42075, 42371, 42841, 43123, 44067, 44476, 45600, 45834, 46316, 46482, 46598.
    $500--437, 710, 1287, 1501, 1640, 1667, 1754, 3008, 3009, 3042, 3075, 3076, 3114, 3115, 3239, 3240, 3242, 3481, 3538, 3697, 3727, 3991, 4158, 4566, 4601.
    Missouri Pacific Railroad Company--First & Refunding Gold 5% Series G Due 1978:
    $1,000--4181, 8478.
    Missouri Pacific Railroad Company--5\1/2\% Bonds 1929/49:
    $1,000--27905.
    New York Central and Hudson R.R.-- Gold 3\1/2\% Due 1997:
    $1,000--5507, 30216, 56526.
    New York Central Railroad Company (The)--4\1/2\% Bonds 1913 Due 2013 Series A:
    $1,000--58717, 58718, 58719.
    New York, City of (Rapid Transit S.F.)-- 4\1/2\% 1915/65:
    $1,000--6704, 6714, 20735.
    New York Lackawanna & West. Ry.--4% Series A 1922 Due 1973:
    $1,000--A5926.
    New York, Pennsylvania & Ohio Railroad-- 4\1/4\% Bonds 1880 Due 1950:
    $1,000--5355.
    $500--2294, 4935.
    New York Telephone Company--4\1/2\% Bonds 1909 Due 1939:
    $1,000--26656, 47512.
    Norfolk & Western Railway Company-- First Consolidated Gold 4% Due 1996:
    $1,000--5686, 6947, 16393, 16728, 16730, 16790, 17023, 17649, 17661, 17991, 18639, 19006, 19200, 19557, 19605, 19661, 20033, 20034, 20035, 20036, 20056, 21213, 21419, 22280, 22283, 22381, 22384, 22984, 25557, 26125, 27160, 27737, 27868, 27877, 27928, 28637, 29454, 29562, 29838, 31057, 31131, 31643, 31646, 34037, 34546.
    $500--3396, 3674, 3889, 3951, 3952, 4280, 4393, 4542, 4543, 4557, 4577, 4747, 4748, 4760, 4775, 6549, 6673, 7049, 7113, 7213, 7543, 7562, 7563, 8135, 8287, 9351.
    Northern Pacific Railway Company--Prior Lien Gold 4% Due 1997:
    $1,000--68, 9870, 61059, 89945.
    Oregon-Washington Railroad and Navigation Company First and Refunding Mortgage Gold 4% Due 1961:
    $1,000--466, 51508.
    Pacific Gas and Electric Co.--First & Refunding Mortgage, Series G, 4% Due December 1, 1964:
    $1,000--M93376.
    Panhandle Eastern Pipeline Co.--First Mortgage & First Lien, 4% Bonds 1937/52:
    $1,000--A. AM. 6704, A. AM. 6705, A. AM. 6706, A. AM. 6707.
    Pennsylvania Railroad Company--40 years Gold Debenture 4\1/2\% Due April 1, 1970:
    $1,000--43444.
    Philippine Railway Company--First Sinking Fund Gold 4% Due 1937:
    $1,000--79, 102, 203, 227, 308, 343, 544, 1263, 1368, 1549, 1595, 1719, 1963, 2103, 2379, 2423, 2479, 3186, 3208, 3330, 3461, 3677, 3732, 3882, 3909, 4307, 4334, 4397, 4681, 4706, 4858, 5047, 5078, 5285, 5832, 5890, 6086, 6313, 6405, 6497, 6543, 7243, 7334, 7470, 7478, 7480, 7705, 7836, 8036, 8399, 8422, 8438, 8456.
    Republic Steel Corporation--4\1/2\% Bonds Series B, 1936/61:
    $1,000--BM14807, BM14808, BM14809, BM14810, BM14811.
    St. Louis-San Francisco Railway Company--4% Mortgage Bonds, Prior Lien, Series A:
    $1,000--13887, 77838, 86441.
    $500--3504.
    St. Louis-San Francisco Railway Co.--5% Prior Lien Series B:
    $1,000--4775.
    St. Louis Southwestern Railway Co.--4% First Loan 1890, Due 1989:
    $1,000--861, 1124, 16270.
    San Antonio & Aransas Pass Railway Company--4% First Mortgage Bonds 1893/1943:
    $1,000--2835, 8312, 8314.
    Seaboard Airline Railway--Ref. Gold 4% 1909/59:
    $1,000--14002, 14003, 14009, 14240, 16419.
    Seaboard Air Line Railway--Adjustable Mortgage Gold 5% 1909/49:
    $1,000--19356.
    Southern California Edison Company, Ltd.--First and Refunding 3\3/4\% Bonds, 1935/60:
    $1,000--4942, 4943, 4944, 41619, 41620.
    Southern Pacific Co.--4% Collateral Trust Gold Bonds Issued 1899, Due 1949:
    $1,000--565, 695, 1546, 1639, 3017, 3133, 3134, 3184, 4073, 4160, 5741, 5742, 5993, 9283, 11219, 12090, 13587, 13763, 13864, 14899, 15488, 15507, 16240, 16473, 19309, 21673, 21931, 23092.
    $500--107, 136, 1907, 2100, 2412, 2601, 3767, 3920, 4614, 4654, 4655, 5120, 6601, 6605, 6718, 7940, 8777, 9825.
    Southern Pacific Company--4\1/2\%, 40-Year Gold Bonds, Due 1969:
    $1,000--13245, 13438, 15408, 29800, 30487, 31676, 32488, 37397, 43691, 52369, 52897, 55559, 58873, 63129, 63676.
    Southern Pacific Company--Gold 4\1/2\% Due 1981:
    $1,000--12245, 12286, 12552, 28506, 37841, 45804.
    Southern Pacific Company San Francisco Terminal, 4% First Mortgage Bonds 1910 Due 1950:
    $1,000--2524, 2554, 2942, 3154, 6016, 6522, 6523, 6524, 8706, 9196, 9254, 9334, 9855, 9856, 10382, 11226, 12440, 12621, 12666, 13181, 13390, 13422, 14212, 14231, 14726, 14730, 15134, 15198, 15285, 15370, 15371, 15372.
    $500--31, 32, 33, 34, 35, 68, 910, 1161, 3057, 5060, 5795, 5953, 7355, 7666, 8388, 8390, 8623, 8659, 10476, 11887, 11888, 11916, 12064, 12067, 12070, 12073, 12242, 12243, 13592, 13934, 13935, 13969, 14295, 14296, 15170, 16089, 16090.
    $100--3368, 11958, 11959.
    Southern Pacific Railroad Company--First Refunding Mortgage 4% Bonds Due 1955:
    $1,000--63, 886, 2061, 2362, 3266, 4356, 4769, 4875, 7682, 13947, 14488, 15213, 16697, 17846, 19981, 26649, 27549, 28115, 28518, 30288, 32886, 35777, 35779, 36078, 42795, 45578, 50162, 50323, 50569, 53889, 55520, 56068, 57125, 57839, 73092, 73431, 75751, 81008, 82091, 87751, 89862, 89865, 90830, 91743, 91745, 95273, 95696, 105640, 105649, 111808, 117031, 128040, 129416.
    $500--655, 951, 3151, 4311, 4313, 4314, 4693, 5495, 6804.
    Southern Railway Company--4% Development and General Mortgage Bonds Due 1956:
    $1,000--604, 1177, 5603, 5642, 5895, 6524, 6882, 6883, 12584, 15952, 16331, 16457, 17481, 20652, 23141, 24606, 26352, 30664, 30793, 32512, 32889, 35049, 36326, 37995, 38295, 40108, 42719, 42759, 42904, 44020, 46205, 49111, 49723, 49798, 51101, 51201, 52673, 55193, 55646, 58867.
    Southern Railway Company--5% First Mortgage & Collateral Trust Bonds Due 1994:
    $1,000--14809, 55929.
    Standard Power & Light Corporation 6% Bonds 1927 Due 1957:
    $1,000--1063, 4324, 4687.
    Studebaker Corporation (The)--Convertible Debenture 6%, 1945:
    $100--3635, 3636, 3838, 3839, 3840, 3841, 3947, 3956, 3959, 3960.
    Studebaker Corporation (The)--Convertible Debenture, Scrip Certificates:
    $22.50--483.
    $3.33--278.
    Union Pacific Railroad Company--3\1/2\% Bonds 1936/71:
    $1,000--12030, 12031, 18146, 21125.
    Union Pacific Railroad Company--First Gold, 4% of 1947:
    $1,000--809, 6600, 7936, 10950, 14246, 16179, 20719, 21778, 23784, 26126, 31111, 33945, 36061, 37039, 38242, 39912, 41137, 43459, 44782, 45958, 48889, 49831, 50486, 51089, 53217, 53816, 55232, 55952, 56455, 58409, 59177, 60210, 60599, 61144, 61660, 62257, 63662, 67179, 73164, 77691, 78364, 78372, 78374, 78930, 79156, 79779, 81026, 85060, 85983, 86057, 87370, 89306.
    $500--314, 572, 573, 1827, 3436, 3855, 4443, 4834, 5175, 5971, 6360, 7614, 7801, 9224, 10101, 10165, 10172, 10666, 13274, 13366, 14426, 17192.
    Union Pacific Railroad Company, First Lien and Refunding Gold 4% 1908 Due 2008:
    $1,000--53300.
    Western Pacific Railroad Company--5% First Mortgage Bonds Due 1946:
    $1,000--19037, 19038.
    Winston-Salem Southbound Railway Company--4% First Mortgage Gold Bonds Due 1960:
    $1,000--1853, 1854.

stocks

    Corporate Trust Shares Series AA (Modified) Distributive Type:
    100 share certificate--8563.
    Corporate Trust Shares Accumulative Series (Modified):
    10 share certificate--17300.
    North American Trust Shares 1953 Issue:
    50 share certificates--24736, 24737, 24738, 24739, 24742, 24743, 24744, 24745, 24746, 24747, 24748, 24981, 24982, 26990, 26991.
    North American Trust Shares 1955 Cumulation Type:
    100 share certificates--3670, 8689.
    50 share certificates--2914, 3149.
    10 share certificates--43934.
    North American Trust Shares 1956 Distribution Type:
    100 share certificates--DD7222, DD7361, DD11072, DD11374, DD11386, DD15575, DD21354, DD28463, DD32157, DD32716, DD33208, DD36746, DD38441, DD38442, DD56843.
    50 share certificates--CC3555, CC3556, CC10838, CC10839.
    25 share certificates--BB2909, BB3026, BB3027.
    10 share certificates--AA13584, AA13585, AA13586, AA15968, AA15969, AA39045, AA55458.

[31 FR 7333, May 20, 1966, as amended at 31 FR 13001, Oct. 6, 1966; 35 FR 11905, July 24, 1970; 41 FR 27963, July 8, 1976]


520.207   General Ruling No. 7.

    The provisions of 520.205 and 520.205(b) (General Rulings Nos. 5 and 5B, as amended), are extended to securities or evidences thereof coming from the Panama Canal Zone into any other part of the United States.


520.212   General Ruling No. 12.

    (a) Unless licensed or otherwise authorized by the Secretary of the Treasury:
    (1) Any transfer after the effective date of the order is null and void to the extent that it is (or was) a transfer of any property in a blocked account at the time of such transfer; and (2) no transfer after the effective date of the order shall be the basis for the assertion or recognition of any right, remedy, power, or privilege with respect to, or interest in, any property while in a blocked account (irrespective of whether such property was in a blocked account at the time of such transfer).
    (b) Unless licensed or otherwise authorized by the Secretary of the Treasury, no transfer before the effective date of the order shall be the basis for the assertion or recognition of any right, remedy, power, or privilege with respect to, or interest in any property while in a blocked account unless the person with whom such blocked account is held or maintained had written notice of the transfer or by any written evidence had recognized such transfer prior to the effective date of the order.
    (c) Unless otherwise provided, an appropriate license or other authorization issued by the Secretary of the Treasury before, during, or after a transfer shall validate such transfer or render it enforceable to the same extent as it would be valid or enforceable but for the provisions of section 5(b) of the Trading With the Enemy Act, as amended, and orders, regulations, instructions, and rulings issued thereunder.
    (d) Any transfer affected by the order and/or this section and involved in, or arising out of, any action or proceeding in any court within the United States shall, so far as affected by the order and/or this section, be valid and enforceable for the purpose of determining for the parties to the action or proceeding the rights and liabilities therein litigated: Provided, however, That no attachment judgment, decree, lien, execution, garnishment, or other judicial process shall confer or create a greater right, power or privilege with respect to, or interest in, any property in a blocked account than the owner of such property could create or confer by voluntary act prior to the issuance of an appropriate license.
    (e) For the purpose of this general ruling:
    (1) The term ``transfer'' shall mean any actual or purported act or transaction, whether or not evidenced by writing, and whether or not done or performed within the United States, the purpose, intent, or effect of which is to create, surrender, release, transfer, or alter, directly or indirectly, any right, remedy, power, privilege, or interest with respect to any property and without limitation upon the foregoing shall include the making, execution, or delivery of any assignment, power, conveyance, check, declaration, deed, deed of trust, power of attorney, power of appointment, bill of sale, mortgage, receipt, agreement, contract, certificate, gift, sale, affidavit, or statement; the appointment of any agent, trustee, or other fiduciary; the creation or transfer of any lien; the issuance, docketing, filing, or the levy of or under any judgment, decree, attachment, execution, or other judicial or administrative process or order, or the service of any garnishment; the acquisition of any interest of any nature whatsoever by reason of a judgment or decree of any foreign country; the fulfillment of any condition, or the exercise of any power of appointment, power of attorney, or other power: Provided, however, That the term ``transfer'' shall not be deemed to include transfers by operation of law.
    (2) The term ``property'' includes gold, silver, bullion, currency, coin, credit, securities (as that term is defined in section 2(1) of the Securities Act of 1933, as amended), bills of exchange, notes, drafts, acceptances, checks, letters of credit, book credits, debts, claims, contracts, negotiable documents of title, mortgages, liens, annuities, insurance policies, options and futures in commodities, and evidence of any of the foregoing. The term ``property'' shall not, except to the extent indicated, be deemed to include chattels or real property.
    (3) The term ``blocked account'' shall refer to a blocked account (including safe deposit box) of a party to the transfer and shall have the meaning prescribed in 520.204 (General Ruling No. 4) except that it shall not be deemed to include an account not treated as a blocked account by the person with whom such account is held or maintained.
    (4) The term ``effective date of the order'' shall have the meaning prescribed in 520.204 except that ``the effective date of the order'' as applied to any person whose name appears on The Proclaimed List of Certain Blocked Nationals shall be the date upon which the name of such person first appeared on such list.
    (5) The term ``transfer by operation of law'' shall be deemed only to mean any transfer of any dower, curtesy, community property, or other interest of any nature whatsoever: Provided, That such transfer arises solely as a consequence of the existence or change of marital status; any transfer to any person by interstate succession; any transfer to any person as administrator, executor, or other fiduciary by reason of any testamentary disposition; any transfer to any person as administrator, executor, or fiduciary by reason of judicial appointment or approval in connection with any testamentary disposition or intestate succession; and any transfer pursuant to
    (i) Netherlands Royal Decree of May 24, 1940, and
    (ii) Norwegian Provisional Decree of April 22, 1940, concerning the monetary system, etc.
    (f) Nothing contained in this section shall be deemed to affect in any way criminal liability for violation of the order, or the regulations, rulings, circulars, or instructions issued thereunder, or in connection therewith, or to otherwise modify any provision thereof.

    Note: For interpretation of General Ruling No. 12 see 520.331 (Public Circular No. 31).


520.212a   General Ruling No. 12A.

    (a) Reference is made to transfers of property in a blocked account which are null and void, or unenforceable, by virtue of the provision of 520.212 (General Ruling No. 12). Such transfers shall not be deemed to be null and void, or unenforceable, under 520.212 as to the person with whom such blocked account was held or maintained (and as to such person only) in cases in which such person is able to establish each of the following:
    (1) Such transfer did not represent a willful violation of the order by the person with whom such blocked account was held or maintained;
    (2) The person with whom such blocked account was held or maintained did not have reasonable cause to know or suspect, in view of all the facts and circumstances known or available to such person, that such transfer was not licensed or authorized by the Secretary of the Treasury, or if a license did purport to cover the transfer, that such license had been obtained by misrepresentation or the withholding of material facts or was otherwise fraudulently obtained; and
    (3) Promptly upon discovery that such transfer was in violation of the order, or was not licensed or authorized by the Secretary of the Treasury, or if a license did purport to cover the transfer, that such license had been obtained by misrepresentation or the withholding of material facts or was otherwise fraudulently obtained, the person with whom such blocked account was held or maintained filed with the Office of Foreign Assets Control, Treasury Department, Washington, DC, 20220 a report in triplicate setting forth in full the information called for therein; Provided, however, That such report should not be regarded as evidence of compliance with paragraphs (a) (1) and (2) of this section.
    (b) Except as otherwise provided by regulations, rulings, licenses, or instructions expressly referring to this general ruling, no license will be required to validate the authority of any person to act or purport to act in a transaction directly or indirectly for the benefit or on behalf of any country listed in 520.101(a) (1) or any national thereof: Provided, That the transaction in which such person acts or purports to act is licensed or authorized by the Secretary of the Treasury or is not prohibited pursuant to section 5(b) of the Trading With the Enemy Act, as amended.
    (c) As used in this section, the term ``blocked account'' shall have the same meaning as that prescribed in 520.212.


520.216   General Ruling No. 16.

    Regulations relating to safe deposit boxes leased to nationals of countries listed in 520.101(a)(1) or containing property in which nationals of such countries have an interest.
    (a) Access to certain safe deposit boxes prohibited. Except as authorized in this section or as specifically licensed or authorized by the Secretary of the Treasury, no person shall be granted access to any safe deposit box within the United States leased to any country listed in 520.101(a)(1) or national thereof or containing any property in which any country listed in 520.101(a)(1) or national thereof, has any interest or which there is reasonable cause to believe contains property in which any country listed in 520.101(a)(1) or national thereof has an interest.
    (b) Access authorized under certain conditions. (1) Access to any safe deposit box leased to a country listed in 520.101(a)(1) or national thereof or containing property in which any country listed in 520.101(a)(1) or national thereof has an interest, and the deposit therein or removal therefrom of any property is hereby authorized: Provided, That both of the following conditions are complied with:
    (i) Access shall be permitted only in the presence of an authorized representative of the lessor of such box:
    (ii) In the event that any property in which any country listed in 520.101(a) (1) or national thereof has any interest is to be removed from such box, access shall be permitted only in the presence of an authorized representative of a banking institution within the United States, which may be the lessor of such box, which shall receive such property into its custody immediately upon removal from such box and which shall hold the same in a blocked account under an appropriate designation indicating the interests therein of countries listed in 520.101(a)(1) or national thereof.
    (2) The lessee or other person granted access to any safe deposit box under this general ruling shall furnish to the lessor a certificate in triplicate that he has filed or will promptly file a report on Form TFR-300 with respect to such box, if leased to a national of a foreign country, and with respect to all property contained in the box to which access is had in which any foreign country or national thereof has an interest. The lessor shall deliver two copies of such certificate to the Office of Foreign Assets Control, Treasury Department, Washington, DC 20220. The certificate is required only on the first access to the box and need not be furnished if a certificate has been filed pursuant to General License No. 12 prior to the revocation thereof.


520.220   General Ruling No. 20.

    (a) Certain payments not authorized. General License No. 1 (520.1) (and any other license to the extent that it merely authorizes payments or transfers between blocked accounts of the same person) does not authorize any payment or transfer of property from an account regarded as blocked under 520.101 (General License No. 101), except to an account which is also regarded as blocked under that section.
    (b) Responsibility for giving notice. Persons effecting any payment or transfer of property held in a blocked account pursuant to General License No. 1 (or any other license to the extent that it merely authorizes payments or transfers between blocked accounts of the same person) are required to notify the recipient that the property transferred must be placed in a blocked account.

Subpart D--Public Circulars


520.321   Public Circular No. 21.

    (a) Status of subaccounts. Each subaccount of a blocked account is deemed to be a separate blocked account.
    (b) Certain transactions not authorized by General Licenses 1, 4, 27. (Sections 520.1, 520.4, 520.27) (1) On and after January 16, 1943, 520.1, 520.4, and 520.27 (General Licenses Nos. 1, 4, and 27) shall not be deemed to authorize the crediting of the proceeds of the sale of securities held in a blocked account or a subaccount thereof, or the income derived from such securities, to a blocked account or subaccount under any name or designation which differs from the name or designation of the specific blocked account or subaccount in which such securities were held.
    (c) Certain transactions not authorized by specific licenses. On and after January 16, 1943, no specific license shall be deemed to authorize:
    (1) The crediting of the proceeds of the sale of securities held in a blocked account or subaccount thereof, (2) the crediting of the income derived from such securities, or (3) the transfer of such securities, to a blocked account or subaccount under any name or designation which differs from the name or designation of the specific blocked account or subaccount in which such securities were held, unless such specific license by its terms expressly authorizes such crediting or transfer.


520.331   Public Circular No. 31.

    (a) Reference is made to 520.212 (General Ruling No. 12) relating to unlicensed transfers of blocked property.
    (b) Under 520.212a (General Ruling No. 12A), interests in blocked property cannot be acquired, transferred, or created by unlicensed ``transfers.'' Nor may an unlicensed transfer be the basis for the assertion or recognition of any right, remedy, power, or privilege with respect to, or interest in, any blocked property.
    (c) An attachment is a ``transfer.'' See 520.212(e) (General Ruling No. 12) where the term ``transfer'' is defined as including ``the issuance, docketing, filing, or other levy of or under any judgment, decree, attachment, execution, or other judicial or administrative process or order, or the service of any garnishment.'' An unlicensed attachment, therefore, cannot operate to transfer or create any interest in blocked property. Nor can it serve as a basis for the assertion or recognition of any right, remedy, power, or privilege with respect to, or interest in, any blocked property.
    (d) Section 520.212(d) (General Ruling No. 12) does not constitute a license authorizing the seizure or creation of any interest in blocked property by attachment proceedings or other legal process. This paragraph merely is a formal statement of the position which the Treasury Department has always taken with respect to litigation affecting blocked property--that it does not desire to interfere with such litigation so long as it is clearly understood that the judicial process cannot, without a license or other authorization from the Secretary of the Treasury, operate to transfer or create any interest in blocked property. Thus the proviso of 520.212(d) specifies that ``no attachment, judgment, decree, lien, execution, garnishment, or other judicial process shall confer or create a greater right, power, or privilege with respect to, or interest in, any property in a blocked account than the owner of such property could create or confer by voluntary act prior to the issuance of an appropriate license.'' In issuing 520.212(d) the Treasury Department did not undertake to decide for the courts whether they should exercise jurisdiction. It simply prescribed that jurisdiction could be exercised only on the basis that if a Treasury license was not issued, the judicial process could not operate to transfer or create any interest in blocked property, nor could it be the basis for the assertion or recognition of any other right, remedy, power, or privilege with respect to the property.
    (e) [Reserved]
    (f) It will be the general policy of the Treasury Department not to grant any license authorizing the creation or acquisition through legal process of any interest in blocked property.


520.335   Public Circular No. 35.

    (a) Reference. Reference is made to 520.87 (General License No. 87), exempting certain transactions from section 2A(2) of the order, to 520.101 (General License No. 101), unblocking certain property, to 520.205 (General Ruling No. 5) relating to the importation of securities, and to 520.212 (General Ruling No. 12) relating to unlicensed transfers of property in a blocked account.
    (b) Registered securities. Securities issued by any person subject to the jurisdiction of the United States which were registered in the name of a national of a country listed in 520.101(a)(1) on or prior to the effective date of 520.94 (General License No. 94) for such country are subject to the proviso of 520.94(a) and constitute property in a blocked account unless transfer of registry has been appropriately authorized under the order.
    (c) Property of blocked foreign corporations and other organizations. Property in the United States which is blocked by reason of the interest of any partnership, association, corporation, or other organization, organized under the laws of any foreign country, which is a national of a country listed in 520.101(a)(1) because of the stock or other interest therein of a country listed in 520.101(a)(1) or nationals thereof, shall continue to be regarded as property in a blocked account, notwithstanding the transfer of such stock or other interest to any other country or a national thereof.
    (d) Consequences of certain documents. With respect to paragraphs (b) and (c) of this section, attention is directed to the fact that neither 520.87 (General License No. 87), exempting certain transactions from section 2A(2) of the order, nor 520.205 (General Ruling No. 5 of July 25, 1947), removing the restrictions on the importation of securities not specified in the list attached to such ruling, authorizes any transfer of property in a blocked account. Regarding paragraphs (b) and (c) of this section, attention is also expressly directed to the provisions of 520.212 (General Ruling No. 12) concerning the effect of unlicensed transfers of property in a blocked account.


520.340   Public Circular No. 40: Effect of prohibitions with respect to domestic and foreign scheduled securities.

    (a) Reference is made to 520.205 and 520.205b (General Licenses Nos. 5 and 5B) with respect to which an inquiry has been received as to whether a contract which calls for delivery of a security of a particular issue without reference to any particular certificate number is null and void if a domestic or foreign scheduled security (as defined in the aforementioned sections) is delivered pursuant to it. It was pointed out that ordinarily if delivery is made of a security which is defective another security of the same issue is required to be substituted. The question is directed to whether 520.205 and 520.205b alter any of the obligations arising out of such a contract.
    (b) Unless such a contract creates an obligation to deliver a domestic or foreign scheduled security, a contract for the sale and purchase of securities is not rendered null and void by 520.205 and 520.205b by reason of the delivery of a domestic or foreign scheduled security in purported compliance with the contract. Sections 520.205 and 520.205b do not in any way invalidate any rights of the parties to such a contract to enforce its terms, such as requiring delivery of another security of the same issue. Such a contract does not, however, transfer title to or create any interest in or claim to a domestic or foreign scheduled security.

Subpart E--[Reserved]

Subpart F--Reports and Records


520.601   Records.

    Every person engaging in any transaction subject to the provisions of this part shall keep a full and accurate record of each such transaction engaged in by him, regardless of whether such transaction is effected pursuant to license or otherwise, and such record shall be available for examination for at least two years after the date of such transaction.


520.602   Reports to be furnished on demand.

    Every person is required to furnish under oath, in the form of reports or otherwise, from time to time and at any time as may be required by the Secretary of the Treasury or any person acting under his direction or authorization complete information relative to any transaction subject to the provisions of this part or relative to any property in which any foreign country or any national thereof has any interest of any nature whatsoever, direct or indirect. The Secretary of the Treasury or any person acting under his direction may require that such reports include the production of any books of account, contracts, letters or other papers, connected with any such transaction or property, in the custody or control of the persons required to make such reports. Reports with respect to transactions may be required either before or after such transactions are completed. The Secretary of the Treasury may, through any person or agency, investigate any such transaction or property or any violation of the provisions of this part regardless of whether any report has been required or filed in connection therewith.


520.611  Reports on Form TFR - 611.

    (a) Requirement for report. Reports on Form TFR - 611 are hereby required to be filed on or before December 1, 1983, in the manner prescribed herein, by persons subject to the jurisdiction of the United States, with respect to all property held on June 30, 1983, which remains blocked pursuant to Executive Order 8389 of April 10, 1940, as amended. Reports on Form TFR - 611 are also required with respect to Czechoslovak property held on June 30, 1983 by persons subject to the jurisdiction of the United States, which was previously blocked pursuant to Executive Order 8389, as amended, and which was unblocked on March 19, 1982.
    (b) Who must report. Reports on Form TFR - 611 must be filed by each of the following:
    (1) Any person subject to the jurisdiction of the United States or his successor who, as of June 30, 1983, had in his custody, control or possession, directly or indirectly, in trust or otherwise, property blocked pursuant to Executive Order 8389, as amended. This requirement includes State abandoned property and escheat agencies.
    (2) Any person subject to the jurisdiction of the United States or his successor who, as of June 30, 1983, had in his custody, control or possession, directly or indirectly, in trust or otherwise, Czechoslovak property which was previously blocked pursuant to Executive Order 8389, as amended, and which was unblocked on March 19, 1982.
    (c) Filing Form TFR - 611. Reports on Form TFR - 611 shall be prepared in triplicate. On or before December 1, 1983, two copies shall be sent in a set to the Office of Foreign Assets Control, Unit 611, Department of the Treasury, Washington, DC 20220. The third copy must be retained with the reporter's records.
    (d) Certification. Every report on Form TFR - 611 shall contain the certification required in part F of the form. Failure to complete the certification shall render the report ineffective, and the submission of such a report shall not constitute compliance with this section.
    (e) Confidentiality of reports. Reports filed on Form TFR - 611 are regarded as privileged and confidential. However, the United States will release to the Government of Czechoslovakia, in connection with the U.S.-Czechoslovak Agreement concerning the settlement of certain outstanding claims and financial issues, the following information:
    (1) The names of holders of accounts of Czechoslovak government agencies and Czechoslovak banks, and the aggregate amount of all Czechoslovak assets held by all such holders.
    (2) The names and amounts of blocked accounts of Czechoslovak government agencies and Czechoslovak banks. Information required to be submitted on this census regarding such accounts is mandatory and is not confidential.
    (3) The name of, and aggregate amount held by, each holder of private Czechoslovak assets who consents in his report on this census to have the information furnished.
    (4) A statement of the aggregate amounts of blocked Czechoslovak assets broken down into private and official categories.

[48 FR 41159, Sept. 14, 1983]

Subpart G--Penalties


520.701  Penalties.

    (a) Attention is directed to section 16 of the Trading With the Enemy Act, as amended, which provides:

    Whoever shall willfully violate any of the provisions of the Act or of any license, rule, or regulation issued thereunder, and whoever shall willfully violate, neglect, or refuse to comply with any order of the President issued in compliance with the provisions of this Act shall, upon conviction, be fined not more than $50,000, or, if a natural person, imprisoned for not more than ten years, or both; and the officer, director, or agent of any corporation who knowingly participates in such violation shall be punished by a like fine, imprisonment, or both, and any property, funds, securities, papers, or other articles or documents, or any vessel, together with her tackle, apparel, furniture, and equipment, concerned in such violation shall be forfeited to the United States.

    (b) Attention is also directed to 18 U.S.C. 1001 which provides:

    Whoever, in any matter within the jurisdiction of any department or agency of the United States knowingly and willfully falsifies, conceals or covers up by any trick, scheme, or device a material fact, or makes any false, fictitious or fraudulent statements or representations, or makes or uses any false writing or document knowing the same to contain any false, fictitious, or fraudulent statement or entry, shall be fined not more than $10,000 or imprisoned not more than 5 years, or both.

[31 FR 7333, May 20, 1966; 31 FR 7625, May 27, 1966, as amended at 50 FR 33719, Aug. 21, 1985]

Subpart H--Procedures


520.801   Licensing.

    (a) General licenses. General licenses have been issued authorizing under appropriate terms and conditions many types of transactions which are subject to the prohibitions contained in the order. All such licenses are set forth in subpart B of this part. It is the policy of the Office of Foreign Assets Control not to grant applications for specific licenses authorizing transactions to which the provisions of an outstanding general license are applicable. Persons availing themselves of certain general licenses are required to file reports and statements in accordance with the instructions specified in the licenses.
    (b) Specific licenses--(1) General course of procedure. Transactions subject to the prohibitions contained in the order which are not authorized by general license may be effected only under specific license. When an unusual problem is presented, the proposed action is cleared with the director of Foreign Assets Control or such person as he may designate.
    (2) Applications for specific licenses. Applications for specific licenses to engage in any transactions prohibited by or pursuant to this part may be filed by letter with the Office of Foreign Assets Control. Any person having an interest in a transaction or proposed transaction may file an application for a license authorizing such transaction, but the applicant for a specific license is required to make full disclosure of all parties in interest to the transaction so that a decision on the application may be made with full knowledge of all relevant facts and so that the identity and location of the persons who know about the transaction may be easily ascertained in the event of inquiry.
    (3) Information to be supplied. The applicant must supply all information specified by relevant instructions, and must fully disclose the names of all the parties who are concerned with or interested in the proposed transaction. If the application is filed by an agent, the agent must disclose the name of his principal(s). Such documents as may be relevant shall be attached to each application as a part of such application except that documents previously filed with the Office of Foreign Assets Control may, where appropriate, be incorporated by reference. Applicants may be required to furnish such further information as is deemed necessary to a proper determination by the Office of Foreign Assets Control. Any applicant or other party in interest desiring to present additional information concerning the application may do so at any time. Arrangements for oral presentation may be made with the Office of Foreign Assets Control.
    (4) Effect of denial. The denial of a license does not preclude the reopening of an application or the filing of a further application. The applicant or any other party in interest may at any time request explanation of the reasons for a denial by correspondence or personal interview.
    (5) Reports under specific licenses. As a condition upon the issuance of any license, the licensee may be required to file reports with respect to the transaction covered by the license, in such form and at such times and places as may be prescribed in the license or otherwise.
    (6) Issuance of license. Licenses will be issued by the Office of Foreign Assets Control acting on behalf of the Secretary of the Treasury, acting in accordance with such regulations, rulings and instructions as the Secretary of the Treasury or the Office of Foreign Assets Control may from time to time prescribe, in such cases or classes of cases as the Secretary of the Treasury or the Office of Foreign Assets Control may determine, or licenses may be issued by the Secretary of the Treasury acting directly or through any person, agency, or instrumentally designated by him.
    (c) Address. License applications, reports, and inquiries should be addressed to the appropriate section or individual within the Office of Foreign Assets Control, or to its Director, at the following address: Office of Foreign Assets Control, U.S. Department of the Treasury, 1500 Pennsylvania Avenue, NW., Washington, DC 20220.

[31 FR 7333, May 20, 1966, as amended at 57 FR 1388, 1389, Jan. 14, 1992]


520.802   Unblocking.

    (a) Any interested person desiring the unblocking of accounts or other property on the ground that the property is not subject to the proviso of 520.101 may file such an application. Such application shall be filed in the manner provided in 520.801(b) and shall contain full information in support of the administrative action requested.
    (b) The applicant is entitled to be heard on the application. If the applicant desires a hearing, arrangements should be made with the Office of Foreign Assets Control.


520.803   Decision.

    The Office of Foreign Assets Control will advise each applicant of the decision respecting applications filed by him. The decision of the Office of Foreign Assets Control acting on behalf of the Secretary of the Treasury with respect to an application shall constitute final agency action.

[32 FR 10847, July 25, 1967, as amended at 57 FR 1389, Jan. 14, 1992]


520.804   Records and reporting.

    (a) Records are required to be kept by every person engaging in any transaction subject to the provisions of this chapter, as provided in 520.601.
    (b) Reports may be required from any person with respect to any transaction subject to the provisions of this chapter or relative to any property in which any foreign country or any national thereof has any interest, as provided in 520.602.

[32 FR 10847, July 25, 1967]


520.805   Amendment, modification or revocation.

    The provisions of this part and any rulings, licenses, authorizations, instructions, orders or forms issued thereunder may be amended, modified, or revoked at any time.


520.806   Rulemaking.

    (a) All rules and other public documents are issued by the Secretary of the Treasury upon recommendation of the Director of Foreign Assets Control or by the Director of the Office of Foreign Assets Control. Except to the extent that there is involved any military, naval, or foreign affairs function of the United States or any matter relating to agency management or personnel or to public property, loans, grants, benefits, or contracts and except when interpretative rules, general statements of policy, or rules of agency organization, practice, or procedure are involved or when notice and public procedure are impracticable, unnecessary or contrary to the public interest, interested persons will be afforded an opportunity to participate in rule making through submission of written data, views, or argument, with oral presentation in the discretion of the Director. In general, rule making by the Office of Foreign Assets Control involves foreign affairs functions of the United States. Wherever possible, however, it is the practice to hold informal consultations with interested groups or persons before the issuance of any rule or other public document.
    (b) Any interested person may petition the Director of Foreign Assets Control in writing for the issuance, amendment or repeal of any rule.


520.807   Delegation by the Secretary of the Treasury.

    Any action which the Secretary of the Treasury is authorized to take pursuant to the Trading With the Enemy Act may be taken by the Director, Foreign Assets Control, or by any other person to whom the Secretary of the Treasury has delegated authority so to act.


520.809  Rules governing availability of information.

    (a) The records of the Office of Foreign Assets Control required by the Freedom of Information Act (5 U.S.C. 552) to be made available to the public shall be made available in accordance with the definitions, procedures, requirements for payment of fees, and other provisions of the Regulations on the Disclosure of Records of the Departmental Offices and of other bureaus and offices of the Department of the Treasury issued under 5 U.S.C. 552 and published in part 1 of this title.
    (b) The records of the Office of Foreign Assets Control required by the Privacy Act (5 U.S.C. 552a) to be made available to an individual shall be made available in accordance with the definitions, procedures, requirements for payment of fees, and other provisions of the Regulations on Disclosure of Records of the Departmental Offices and of other bureaus and offices of the Department of the Treasury issued under 5 U.S.C. 552a and published in part 1 of this title.
    (c) Any form used in connection with the Foreign Funds Control Regulations may be obtained in person from or by writing to the Office of Foreign Assets Control, U.S. Department of the Treasury, 1500 Pennsylvania Avenue, NW., Washington, DC 20220.

[57 FR 1389, Jan. 14, 1992]

Subpart I--Miscellaneous Provisions


520.901  Paperwork Reduction Act notice.

    The information collection requirements in 520.205(e) (1) and (5) and 520.801 have been approved by the Office of Management and Budget under the Paperwork Reduction Act and assigned control number 1505 - 0096.

[50 FR 27438, July 3, 1985, as amended at 57 FR 6297, Feb. 24, 1992]