1. Regulations
  2. title 31
  3. chapter V
  4. part 589
  5. subpart D
  6. § 589.412

View all text of Subpart D [§ 589.401 - § 589.414]

§ 589.412 - Projects owned, or to which a majority of voting rights are held, by one or more persons subject to § 589.205.

The prohibitions in § 589.205(b) apply to projects owned 33 percent or more, or to projects in which a majority of voting interests are held, individually or in the aggregate, by one or more persons subject to § 589.205, their property, or their interests in property, including entities owned 50 percent or more by one or more persons subject to § 589.205.

Example 1 to § 589.412:If two entities that are each subject to § 589.205 each hold a 20 percent ownership interest in Project X, or together own a majority of the voting interests in Project X, then the prohibition in § 589.205(b) applies to Project X.

AUTHORITY: 3 U.S.C. 301; 22 U.S.C. 8901-8910, 8921-8930; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; 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. 13660, 79 FR 13493, 3 CFR, 2014 Comp., p. 226; E.O. 13661, 79 FR 15535, 3 CFR, 2014 Comp., p. 229; E.O. 13662, 79 FR 16169, 3 CFR, 2014 Comp., p. 233; E.O. 13685, 79 FR 77357, 3 CFR, 2014 Comp., p. 313.

SOURCE: 87 FR 26099, May 2, 2022, unless otherwise noted.

CITE AS: 31 CFR 589.412