Libya - General License No. 4   with Respect to Investment Funds in Which There Is a Blocked Non-Controlling, Minority Interest of the Government of Libya

Date issued: Apr. 08 2011

Last substantive commentary amendment:
Mar. 03 2024

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TURBOFAC Commentary (2032 words)

Notes Common to 570.513 and Libya GL 4

1) 570.513/Libya GL 4 relates to the second Libyan Sanctions Regulations (Part 570), not the first, Part 550, which was repealed in 2004. Libya GL 4 was issued as a looseleaf GL on April 8, 2011, and it was implemented into the LSR as 570.513 on Oct. 3, 2022, and removed from OFAC's website shortly thereafter. The GL is not particularly important from a day-to-day compliance perspective in light of the subsequently issued GLs generally unblocking property of the Government of Libya, but the GL is still (as of 3-3-24) notable for its implicit positions concerning the relationship between the blocking prohibition and investment funds.

2) Blocked Person "Control" Over Investment Funds
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