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883. What does Burma General License 4 authorize?
Burma General License (GL) 4 authorizes, subject to certain conditions, all transactions and activities prohibited by Executive Order (E.O.) 14014, that are ordinarily incident and necessary to the wind down of transactions involving, directly or indirectly, Myanmar Economic Corporation Limited (MEC) or Myanma Economic Holdings Public Company Limited (MEHL), or any entity in which MEC or MEHL owns, directly or indirectly, a 50 percent or greater interest, through 12:01 a.m., eastern daylight time, June 22, 2021. Persons unable to wind down transactions prohibited by E.O. 14014 in which such blocked persons have an interest before that time are encouraged to seek formal guidance from OFAC.
For the duration of GL 4, non-U.S. persons may wind down transactions involving, directly or indirectly, MEC or MEHL, or any entity in which MEC or MEHL owns, directly or indirectly, a...
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1) This FAQ is similar to other FAQs (see e.g. FAQ # 841) addressing designations of individual entities that were made in conjunction with the issuance of a wind-down license.
2) [Reserved]
3) See Examples of Transactions Deemed to be, and not to be, Within the Scope of the Standard "Wind-down" and "Maintenance" GLs.
4) *Note Common to FAQ # 807, FAQ # 835, FAQ # 841, FAQ # 883, FAQ # 1102 and FAQ # 1112
FAQ # 835, FAQ # 841, FAQ # 883, FAQ # 1102 and FAQ # 1112 all stand for the notable proposition as it relates to U.S. person facilitation of other involvement in underlying transactions of non-U.S. persons that are described by a general license, but not within...