§ 535.403. Termination and acquisition of an interest of Iran or an Iranian entity.
134 words·~1 min read·
/us/cfr/t31/s§ 535.403·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Whenever a transaction licensed or authorized by or pursuant to this part results in the transfer of property (including any property interest) away from Iran or an Iranian entity, such property shall no longer be deemed to be property in which Iran or an Iranian entity has or has had an interest, unless there exists in the property another such interest the transfer of which has not been effected pursuant to license or other authorization.
(b)Unless otherwise specifically provided in a license or authorization contained in or issued pursuant to this part, if property (including any property interest) is transferred to Iran or an Iranian interest, such property shall be deemed to be property in which there exists an interest of Iran or an Iranian entity. \[45 FR 24433, Apr. 9, 1980\]