Persons whose property and interests in property are blocked pursuant to § 578.201 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 § 578.201, regardless of whether the name of the entity is incorporated into OFAC's Specially Designated Nationals and Blocked Persons List (SDN List).
authority: 3 U.S.C. 301;
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); Pub. L. 115-44, 131 Stat. 886 (codified in scattered sections of 22 U.S.C.); E.O. 13694, 80 FR 18077,
3 CFR 2015 Comp., p. 297; E.O. 13757, 82 FR 1,
3 CFR 2016 Comp., p. 659
source: 87 FR 54376, Sept. 6, 2022, unless otherwise noted.
cite as: 31 CFR 578.411