§ 535.902. Set-offs by U.S. owned or controlled firms abroad.
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/us/cfr/t31/s§ 535.902·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Branches and subsidiaries in foreign countries of persons subject to the jurisdiction of the United States are licensed to set-off their claims against Iran or Iranian entities by debit to blocked accounts held by them for Iran or Iranian entities.
(b)The general license in paragraph
(a)of this section is revoked as of January 19, 1981.
(c)For purposes of this section, set-offs include combinations of accounts and any similar actions. (Secs. 201-207, 91 Stat. 1626, 50 U.S.C. 1701-1706; E.O. 12170, 44 FR 65729; E.O. 12205, 45 FR 24099; E.O. 12211, 45 FR 26685; E.O. 12276, 46 FR 7913; E.O. 12279, 46 FR 7919; E.O. 12280, 46 FR 7921; E.O. 12281, 46 FR 7923; E.O. 12282, 46 FR 7925; E.O. 12283, 46 FR 7927, and E.O. 12294, 46 FR 14111) \[46 FR 14337, Feb. 26, 1981\]
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- 91 Stat. 1626
- 50 USC 1701-1706
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§ 535.902
Set-offs by U.S. owned or controlled firms abroad.
Stat.91 Stat. 1626
Cite50 USC 1701-1706
Cites 2Cited by 0 across 0 sources