(a) Persons whose property and interests in property are blocked pursuant to § 560.211 have an interest in all property and interests in property of an entity in which such persons directly or indirectly own, whether individually or in the aggregate, a 50 percent or greater interest. The property and interests in property of such an entity, therefore, are blocked, and such an entity is a person whose property and interests in property are blocked pursuant to § 560.211, regardless of whether the entity itself is identified as a person whose property and interests in property are blocked pursuant to § 560.211.
(b) This section, which deals with the consequences of ownership of entities, in no way limits the definition of the Government of Iran in § 560.304.
[87 FR 78477, Dec. 21, 2022]
authority: 3 U.S.C. 301;
18 U.S.C. 2339B,
2332d;
22 U.S.C. 2349aa-9,
7201,
8501,
8701;
31 U.S.C. 321(b);
50 U.S.C. 1601-1651,
1701; Pub. L. 101-410, 104 Stat. 890, as amended (
28 U.S.C. 2461 note); E.O. 12613, 52 FR 41940, 3 CFR, 1987 Comp., p. 256; E.O. 12957, 60 FR 14615, 3 CFR, 1995 Comp., p. 332; E.O. 12959, 60 FR 24757, 3 CFR, 1995 Comp., p. 356; E.O. 13059, 62 FR 44531, 3 CFR, 1997 Comp., p. 217; E.O. 13599, 77 FR 6659, 3 CFR, 2012 Comp., p. 215; E.O. 13846, 83 FR 38939, 3 CFR, 2018 Comp., p. 854
source: 77 FR 64666, Oct. 22, 2012, unless otherwise noted.
cite as: 31 CFR 560.425