Sec. 2. Determination and certification of whether certain foreign financial institutions have facilitated transactions or provided services for covered persons
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/bill/115/hr/2185/ih/section-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 180 days after the date of the enactment of this Act, and every 180 days thereafter for a period not to exceed 5 years, the President shall— with respect to each foreign financial institution, including an Iranian financial institution, listed in Attachment 3 or Attachment 4 to Annex II of the Joint Comprehensive Plan of Action, determine whether the institution has, on or after January 30, 2016, knowingly facilitated a significant transaction or transactions or provided significant financial services for any person described in section 4; and transmit to the appropriate congressional committees a certification of each determination with respect to a foreign financial institution, including an Iranian financial institution, made under paragraph (1).
A certification described in subsection (a)(2) shall be submitted in unclassified form, but may contain a classified annex. For purposes of this section, a transaction or transactions shall be determined to be significant and financial services shall be determined to be significant in accordance with section 561.404 of title 31, Code of Federal Regulations.