Sec. 805. Imposition of sanctions with respect to provision of specialized financial messaging services to sanctioned People’s Republic of China financial institutions
364 words·~2 min read·
/bill/117/s/4428/rs/section-805·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 60 days after making an affirmative determination under section 802, and not later than 30 days after the submission of any list of People’s Republic of China financial institutions under section 804(b)(1), the Secretary of State, in consultation with the Secretary of the Treasury, shall submit a list to the appropriate committees of Congress that identifies all known persons that provide specialized financial messaging services to, or that enable or facilitate access to such services for, any financial institution specified in section 804(a) or that is on the list required under section 804(b).
Not later than 90 days after the imposition of any sanctions authorized under section 804, and every 30 days thereafter, as necessary, the Secretary of State, in consultation with the Secretary of the Treasury, shall submit a report to the appropriate committees of Congress that— describes the status of efforts to ensure that the termination of the provision of specialized financial messaging services to, and the enabling and facilitation of access to such services for, any financial institution against which sanctions are imposed pursuant to section 804; and identifies any other provider of specialized financial messaging services that continues to provide messaging services to, or enables or facilitates access to such services for, any such financial institution.
If, on or after the date that is 90 days after the imposition of any sanctions authorized under section 804, a provider of financial specialized financial messaging services continues to knowingly provide specialized financial messaging services to, or knowingly enable or facilitate direct or indirect access to such messaging services for, any financial institution with respect to which sanctions are imposed pursuant to section 804, the President may impose sanctions pursuant to that section or the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ) with respect to such provider.
For purposes of this section, enabling or facilitating direct or indirect access to specialized financial messaging services includes doing so by serving as an intermediary financial institution with access to such messaging services. Each list required under subsection
(a)and each report required under subsection
(b)shall be submitted in unclassified form, but may include a classified annex.
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 805
Imposition of sanctions with respect to provision of specialized financial messaging services to sanctioned People’s Republic of China financial institutions
Cites 1Cited by 0 across 0 sources