1. Regulations
  2. title 31
  3. chapter V
  4. part 570
  5. subpart E
  6. § 570.516

View all text of Subpart E [§ 570.501 - § 570.518]

§ 570.516 - Property and interests in property of Arab Turkish Bank and North African International Bank unblocked.

(a) As of December 1, 2011, all property and interests in property of Arab Turkish Bank and North African International Bank blocked pursuant to § 570.201(a)(1) or (3) are unblocked.

(b) Within 10 business days of the release of any blocked funds, including cash, securities, bank accounts, and investment accounts, pursuant to paragraph (a) of this section, a report must be filed with the Compliance Division of the Office of Foreign Assets Control via email to [email protected]. For each amount released, the report must include a copy of the related initial blocking report and indicate the date that the funds were released and the amount released.

[87 FR 59678, Oct. 3, 2022, as amended at 89 FR 15742, Mar. 5, 2024]

AUTHORITY: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; 22 U.S.C. 287c; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 13566, 76 FR 11315, 3 CFR, 2011 Comp., p. 222; E.O. 13726, 81 FR 23559, 3 CFR, 2016 Comp., p. 454.

SOURCE: 87 FR 59678, Oct. 3, 2022, unless otherwise noted.

CITE AS: 31 CFR 570.516