31 CFR 570.305 - Government of Libya.

View all text of Subpart C [§ 570.300 - § 570.316]

§ 570.305 - Government of Libya.

The term Government of Libya includes:

(a) The state and the Government of the Libya, as well as any political subdivision, agency, or instrumentality thereof, and the Central Bank of Libya;

(b) Any entity directly or indirectly owned or controlled by the foregoing, including any corporation, partnership, association, or other entity in which the Government of Libya owns a 50 percent or greater interest or a controlling interest, and any entity which is otherwise controlled by that government;

(c) Any person that is, or has been, since the effective date, acting or purporting to act, directly or indirectly, for or on behalf of any of the foregoing; and

(d) Any other person determined by OFAC to be included within paragraphs (a) through (c) of this section.

Note 1 to § 570.305.

The names of persons that OFAC has determined fall within this definition are published in the Federal Register and incorporated into OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) with the identifier “[LIBYA2].” The SDN List is accessible through the following page on OFAC's website: www.treasury.gov/sdn. However, the property and interests in property of persons who meet the definition of the term Government of Libya and are blocked pursuant to § 570.201 are blocked regardless of whether the names of such persons are published in the Federal Register or incorporated into the SDN List.

Note 2 to § 570.305:

Section 501.807 of this chapter describes the procedures to be followed by persons seeking administrative reconsideration of OFAC's determination that they fall within the definition of the term Government of Libya.