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§515.336 Confiscated.
As used in §515.208, the term confiscated refers to:
(a) The nationalization, expropriation, or other seizure by the Cuban Government of ownership or control of property, on or after January 1, 1959:
(1) Without the property having been returned or adequate and effective compensation provided; or
(2) Without the claim to the property having been settled pursuant to an international claims settlement agreement or other mutually accepted settlement procedure; and
(b) The repudiation by the Cuban Government of, the default by the Cuban Government on, or the failure of the Cuban Government to pay, on or after January 1, 1959:
(1) A debt of any enterprise which has been nationalized, expropriated, or otherwise taken by the Cuban Government;
(2) A debt which is a charge on property nationalized, expropriated, or otherwise taken by the Cuban Government; or
(3) A debt which was incurred by the Cuban Government in satisfaction or settlement of a confiscated property claim.
[61 FR 37386, July 18, 1996]
1) Refer to "Notes common to 515.208, 515.334, 515.335 and 515.336," in the comments to 515.208.
2) CACR sections 515.208, 515.334, 515.335 and 515.336, all initially issued on the same day, implement Sec. 103 of the Helms-Burton Act (officially, the "Cuban Liberty and Democratic Solidarity (Libertad) Act of 1996")" [2]. None of the definitional provisions (515.334, 515.335 and 515.336) appear to have been the subject of formal guidance by OFAC.