§ 570.301 Blocked account; blocked property.
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Title 31—Money and Finance: Treasury > Subtitle B—Regulations Relating to Money and Finance > CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY > PART 570—LIBYAN SANCTIONS REGULATIONS > Subpart C—General Definitions
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The terms blocked account and blocked property mean any account or property subject to the prohibitions in § 570.201 held in the name of a person whose property and interests in property are blocked pursuant to § 570.201, or in which such person has an interest, and with respect to which payments, transfers, exportations, withdrawals, or other dealings may not be made or effected except pursuant to a license or other authorization from OFAC expressly authorizing such action.
Note 1 to § 570.301:
See § 570.411 concerning the blocked status of property and interests in property of an entity that is directly or indirectly owned, whether individually or in the aggregate, 50 percent or more by one or more persons whose property and interests in property are blocked pursuant to § 570.201.
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