22 CFR 1508.330 - What requirements must I pass down to persons at lower tiers with whom I intend to do business?

Regulations last checked for updates: Nov 25, 2024

Title 22 - Foreign Relations last revised: Oct 28, 2024

View all text of Subpart C [§ 1508.300 - § 1508.365]

§ 1508.330 - What requirements must I pass down to persons at lower tiers with whom I intend to do business?

Before entering into a covered transaction with a participant at the next lower tier, you must require that participant to—

(a) Comply with this subpart as a condition of participation in the transaction. You may do so using any method(s), unless § 1508.440 requires you to use specific methods.

(b) Pass the requirement to comply with this subpart to each person with whom the participant enters into a covered transaction at the next lower tier.

authority: Sec. 2455, Pub.L. 103-355, 108 Stat. 3327; E.O. 12549, 3CFR, 1986 Comp., p.89; E.O. 12689, 3CFR, 1989 Comp., p. 235

source: 68 FR 66590, 66592, Nov. 26, 2003, unless otherwise noted.

cite as: 22 CFR 1508.330