PART 555--SOVIET GOLD COIN REGULATIONS Subpart A--Relation of This Part to Other Laws and Regulations Sec. 555.101 Relation of this part to other laws and regulations. Subpart B--Prohibitions 555.201 Prohibition on the importation of Soviet gold coins. 555.202 Effective date. 555.203 Evasions. Subpart C--General Definitions 555.301 Gold coins. 555.302 United States. 555.303 Importation. 555.304 Person. 555.305 Entity. Subpart D--Interpretations 555.401 Reference to amended sections. 555.402 Effect of amendment of sections of this chapter or of other orders, etc. 555.403 Gold coin jewelry. Subpart E--Licenses, Authorizations and Statements of Licensing Policy 555.501 Effect of subsequent license or authorization. 555.502 Exclusion from licenses and authorizations. 555.503 Authorization of importation of Soviet gold coins. Subpart F--Reports 555.601 Required records. 555.602 Reports to be furnished on demand. Subpart G--Penalties 555.701 Penalties. Subpart H--Procedures 555.801 Licensing. 555.802 Decisions. 555.803 Amendment, modification, or revocation. 555.804 Rulemaking. 555.805 Delegation by the Secretary of the Treasury. 555.806 Rules governing availability of information. Subpart I--Paperwork Reduction Act 555.901 Paperwork Reduction Act notice. Authority: Pub. L. 99 - 440, 100 Stat. 1086; Pub. L. 99 - 631; E.O. 12571, 51 FR 39505, October 29, 1986; Pub. L. 102 - 182, 105 Stat. 1234. Source: 51 FR 41916, Nov. 19, 1986, unless otherwise noted. Subpart A--Relation of This Part to Other Laws and Regulations 555.101 Relation of this part to other laws and regulations. (a) This part is independent of the other parts of this chapter. No license or authorization contained in or issued pursuant to the other parts of this chapter authorizes any transaction prohibited by this part. In addition, licenses or authorizations contained in or issued pursuant to any other provision of law or regulation do not authorize any transaction prohibited by this part. (b) No license or authorization contained in or issued pursuant to this part relieves the involved parties from complying with any other applicable laws or regulations. Subpart B--Prohibitions 555.201 Prohibition on the importation of Soviet gold coins. No person, including a bank, may import into the United States any gold coin minted in the Union of Soviet Socialist Republics or offered for sale by the Government of the Union of Soviet Socialist Republics. 555.202 Effective date. The effective date of the prohibition in 555.201 is 12:01 a.m. Eastern Daylight Time, October 2, 1986. 555.203 Evasions. The regulations set forth in this part shall apply to any person who undertakes or causes to be undertaken any transaction or activity with the intent to evade section 510 or related provisions of the Comprehensive Anti-Apartheid Act of 1986, Pub. L. 99 - 440, or these regulations. Subpart C--General Definitions 555.301 Gold coins. The term gold coins includes gold coins of all denominations and sizes, and gold coins that have been modified, as by addition of a clasp or loop, into items that may be worn as jewelry. 555.302 United States. The term United States includes the States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession of the United States. 555.303 Importation. The term importation means the bringing of any item within the jurisdictional limits of the United States with the intent to unlade it. 555.304 Person. The term person means an individual or an entity. 555.305 Entity. The term entity means a corporation, partnership, association, or other organization. Subpart D--Interpretations 555.401 Reference to amended sections. Reference to any section of this chapter or to any regulation, ruling, order, instruction, direction or license issued pursuant to this chapter shall be deemed to refer to the same as currently amended unless otherwise so specified. 555.402 Effect of amendment of sections of this chapter or of other orders, etc. Any modification of this chapter or of any regulation, ruling, order, instruction, direction or license issued by or under the direction of the Secretary of the Treasury shall not, unless otherwise specifically provided, be deemed to affect liability for any act performed or omitted, or any civil or criminal proceeding commenced prior to such modification, and all penalties, forfeitures, and liabilities under any such regulation, ruling, order, instruction, direction or license shall continue and may be enforced as if such modification had not been made. 555.403 Gold coin jewelry. Section 555.201 prohibits the importation into the United States of gold coins that have been modified, as by the addition of a clasp or loop, into items that can be worn as jewelry. For example, importation of a necklace consisting of a Soviet gold coin mounted on a chain would not be authorized. Section 555.201 does not prohibit the reimportation into the United States of gold coin jewelry which was originally imported into the United States prior to October 2, 1986, provided that (a) the importer can demonstrate the date of the prior importation to the satisfaction of the Secretary of the Treasury or his delegate, and (b) the jewelry to be reimported is in small quantities and for personal use only. Subpart E--Licenses, Authorizations and Statements of Licensing Policy 555.501 Effect of subsequent license or authorization. No license or other authorization contained in this chapter or otherwise issued by or under the authority of the Secretary of the Treasury shall be deemed to authorize or validate any transaction effected prior to the issuance thereof unless such license or authorization specifically so provides. 555.502 Exclusion from licenses and authorizations. The Secretary of the Treasury reserves the right to exclude any person or property from the operation of any license or to restrict the applicability thereof to any person or property. Such action shall be binding upon all persons receiving actual or constructive notice thereof. 555.503 Authorization of importation of Soviet gold coins. Notwithstanding the provisions of subpart B of this part, transactions occurring on or after December 4, 1991, otherwise prohibited by 555.201 and 555.203, are hereby authorized. [57 FR 10291, Mar. 25, 1992] Subpart F--Reports 555.601 Required records. Every person engaging in any act or transaction subject to this part shall keep a full, complete, and accurate record relative to any such act or transaction either before, during, or after the completion thereof, including any transaction effected pursuant to license or otherwise, and such records shall be available for examination for two years after the date of such transaction. 555.602 Reports to be furnished on demand. Every person is required to furnish under oath, in the form of reports or otherwise, at any time as may be required, complete information relative to any act or transaction subject to this part, regardless of whether such transaction is effected pursuant to license or otherwise. Such reports may be required to include the production of any books of account, contracts, letters, and other papers connected with any transaction in the custody or control of the persons required to make such reports. Reports with respect to transactions may be required before, during or after such transactions are completed. The Secretary of the Treasury may, through any person or agency, conduct investigations, hold hearings, administer oaths, examine witnesses, receive evidence, take depositions, and require by subpoena the attendance and testimony of witnesses and the production of all books, papers, and documents relating to any matter under investigation. (Approved by the Office of Management and Budget under control number 1505 - 0095) Subpart G--Penalties 555.701 Penalties. (a) Any person that violates the provisions of section 510 of the Comprehensive Anti-Apartheid Act of 1986 (``the Act''), as implemented by 555.201 of this part, related provisions of the Act, or any regulation, license, or order issued to carry out such provisions shall be subject to a civil penalty of $50,000. (b) Any person, other than an individual, that willfully violates the provisions of section 510 of the Act, as implemented by 555.201 of this part, related provisions of the Act, or any regulation, license, or order issued to carry out such provisions shall be fined not more than $1,000,000. (c) Any individual who willfully violates the provisions of 510 of the Act, as implemented by 555.201 of this part, related provisions of the Act, or any regulation, license, or order issued to carry out such provisions shall be fined not more than $50,000, or imprisoned not more than 10 years, or both. (d) Whenever a person commits a violation as to which a penalty under paragraphs (a), (b), or (c) of this section applies, (1) any officer, director, or employee of such person, or any natural person in control of such person who knowingly and willfully ordered, authorized, acquiesced in, or carried out the act or practice constituting the violation, and (2) any agent of such person who knowingly and willfully carried out such act or practice, shall be fined not more than $10,000, or imprisoned not more than 5 years, or both. (e) A fine imposed under paragraph (b) of this section on an individual for an act or practice constituting a violation may not be paid, directly or indirectly, by the person committing the violation itself. (f) Any individual who violates section 510 of the Act, as implemented by 555.201 of this part, related provisions of the Act, or any regulations issued to carry out such provisions shall be fined not more than five times the value of the gold coins involved. (Comprehensive Anti-Apartheid Act of 1986, Pub. L. 99 - 440, secs. 510(b) and 603(b) and (c)) (g) 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 such greater amount as set forth in 18 U.S.C. 3623, or imprisoned not more than five years, or both. (18 U.S.C. 1001, 3623) (h) Violations of this part may also be subject to relevant provisions of the Customs laws and other applicable laws. Subpart H--Procedures 555.801 Licensing. (a) General licenses. General licenses may be issued authorizing under appropriate terms and conditions certain types of transactions which are subject to the prohibitions contained in subpart B of this part. All such licenses will be set forth in subpart E 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 a general license may be required to file reports and statements in accordance with the instructions specified in that license. (b) Specific licenses--(1) General course of procedure. Transactions subject to the prohibitions contained in subpart B of this part that are not authorized by general license may be effected only under specific licenses. The specific licensing activities of the Office of Foreign Assets Control are performed by its Washington office and by the Foreign Assets Control Division of the Federal Reserve Bank of New York. (2) Applications for specific licenses. Applications for specific licenses to engage in any transaction prohibited under this part are to be filed in duplicate with the Federal Reserve Bank of New York, Foreign Assets Control Division, 33 Liberty Street, New York, NY 10045. Any person having an interest in a transaction or proposed transaction may file an application for a license authorizing such transaction, and there is no requirement that any other person having an interest in such transaction shall or should join in making or filing such application. (3) Information to be supplied. The applicant must supply all information specified by the respective forms and instructions. Such documents as may be relevant shall be attached to each 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. Failure to furnish necessary information will not be excused because of any provision of the law of the Union of Soviet Socialist Republics. If an applicant or other party in interest desires to present additional information or discuss or argue the appIication, he may do so at any time before or after decision. Arrangements for oral presentation should 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 of 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 or by the Federal Reserve Bank of New York, 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, or licenses may be issued by the Secretary of the Treasury acting directly or through a designated person, agency, or instrumentality. 555.802 Decisions. The Office of Foreign Assets Control or the Federal Reserve Bank of New York will advise each applicant of the decision respecting filed applications. The decision of the Office of Foreign Assets Control with respect to an application shall constitute a final agency action. 555.803 Amendment, modification, or revocation. The provisions of this part and any rulings, licenses, authorizations, instructions, orders or forms issued hereunder may be amended, modified, or revoked at any time. 555.804 Rulemaking. (a) All rules and other public documents are issued by the Secretary of the Treasury upon recommendation of 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 interpretive 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 rulemaking through the submission of written data, views, or arguments, with oral presentation in the discretion of the Director. In general, rulemaking 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 the Office of Foreign Assets Control in writing for the issuance, amendment or revocation of any rule. 555.805 Delegation by the Secretary of the Treasury. Any action that the Secretary of the Treasury is authorized to take with respect to the subject matter of this part may be taken by the Director of the Office of Foreign Assets Control, or by any other person to whom the Secretary of the Treasury has delegated authority so to act. 555.806 Rules governing availability of information. (a) The records of the Office of Foreign Assets Control that are required by 5 U.S.C. 552 to be made available to the public shall be made available in accordance with the definitions, procedures, payment of fees, and other provisions of the regulations on the disclosure of records of the Office of the Secretary and of other bureaus and offices of the Department issued under 5 U.S.C. 552 and published as part 1 of this title 31 of the Code of Federal Regulations. (b) Any form issued for use in connection with this part may be obtained in person from or by writing to the Office of Foreign Assets Control, Treasury Department, Washington, DC 20220, or the Foreign Assets Control Division, Federal Reserve Bank of New York, 33 Liberty Street, New York, NY 10045. Subpart I--Paperwork Reduction Act 555.901 Paperwork Reduction Act notice. The information collection requirements in 555.601, 555.602, and 555.801 have been approved by the Office of Management and Budget and assigned control number 1505 - 0095. [57 FR 10291, Mar. 25, 1992]