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§535.215 Direction involving other properties in which Iran or an Iranian entity has an interest held by any person subject to the jurisdiction of the United States.
(a) Except as provided in paragraphs (b) and (c) of this section, all persons subject to the jurisdiction of the United States in possession or control of properties, as defined in §535.333 of this part, not including funds and securities owned by Iran or its agencies, instrumentalities or controlled entities, are licensed, authorized, directed and compelled to transfer such properties held on January 18, 1981 as directed after that day by the Government of Iran, acting through its authorized agent. Such directions shall include arrangements for payment of the costs of transporting the properties, unless the possessors of the properties were required to pay such costs by contract or applicable law on January 19, 1981. Except where specifically stated, this license,...
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The term "property," as used here and as defined at 535.333, is narrower than the scope of the basic blocking provision at 535.201 because the only properties that needed to be transferred pursuant to the directive were properties of Iran that were/are "uncontested and non-contingent," where "contested" means that "Iran does not have title or has only partial title to the asset." A property or property interest could be blocked pursuant to 535.201 with any interest whatsoever. See Rubin v. Harvard University, 11-2144 (1st Cir. 2013) - OFAC/Treasury Amicus Brief (and comments thereto), as well as comments to 535.333 for further discussion of the "contested" question in a recent litigation. The position taken by the government seems to be one that, as a practical matter, substantially narrows volume of items that would be i) within the scope of 535.201, but...