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§560.502 Effect of license or authorization.
(a) No license or other authorization contained in this part, or otherwise issued by the Office of Foreign Assets Control, authorizes or validates any transaction effected prior to the issuance of such license or other authorization, unless specifically provided in such license or authorization.
(b) No regulation, ruling, instruction, or license authorizes any transaction prohibited under this part unless the regulation, ruling, instruction, or license is issued by the Office of Foreign Assets Control and specifically refers to this part. No regulation, ruling, instruction, or license referring to this part shall be deemed to authorize any transaction prohibited by any other part of this chapter unless the regulation, ruling, instruction, or license specifically refers to such part.
(c) Any regulation, ruling, instruction, or license authorizing any transaction otherwise prohibited under this part has the effect of removing a prohibition contained in this...
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Subsections (a) through (c) of this provision are, with certain non-substantive exceptions, common to most sanctions regulations. Subsection (a) deals with "retroactive licensing," which, depending on the situation, can be within OFAC's authority, but is, as noted, not the default. Subsection (b) is a general restatement of the common 5XX.101 provision (Relation of this part to other laws and regulations) but note that a significant portion of OFAC's guidance that is designed to have cross-programmatic application does not specifically refer to every part of the CFR to which it applies. By the same token, subsection (c) cautions to read license and authorizations restrictively, which is a good rule of thumb, but OFAC frequently offers guidance interpreting authorization provisions more broadly than the plain text might otherwise...