OFAC Regulatory Provisions - 31 CFR § 542.310 - Loans or other extensions of credit.

Ed. Note: if you’re new to TURBOFAC, please take note that the text string filtration function generally shouldn’t be used for terms such as “ordinarily resident,” “causing” or “new debt”. For research on the meaning of words and phrases such as those, i.e. terms central to the key legal issues in sanctions law that appear on a cross-programmatic basis, you’re typically better off locating and checking the appropriate box in the “Key Legal Issues” search category, which will limit the results to those that have been manually assessed as being relevant for the interpretation of the terms at issue.

Try typing your search term (“ordinarily resident,” “new debt,” or something else) in the “Find a Search Filter” box at the top of the page, and the corresponding “Key Legal Issues” check box will pop up instantly, if one exists. Once you check the box (e.g. “new debt,” with ~55 results), you can always use the text string filtration function to further refine your search (e.g. by typing “invoice” and narrowing the ~55 results to ~10).

Note in addition that the same applies to text string searches such as “14071” (if you’re looking for items related to EO 14071). By typing “14071” in the “Find a Search Filter” field up top, you will be able to instantly narrow the results down to items manually assessed as relating to EO 14071. Ditto terms such as “515.204” or “Iran General License G” (try the “Discrete Legal Provision” search category). Please contact [email protected] or [email protected] with any questions on search results and efficiency.

Please click "Apply Text String Filters" again after clicking the "Close" button immediately below.

TURBOFAC Commentary (190 words)

Notes:

* Provision redesignated on 6-5-24 to accommodate additions to the definitions subpart of the (what was 542.307 is now 542.310).

1) This provision controls the scope of the associated exemption for transactions related to information or informational materials, such that all items falling outside the scope of this definition are not eligible for the exemption. The scope and operation of the provision is discussed in detail in Notes Common to the "Information or informational materials" Definitional Provision (System Ed. Note).

The term is generally boilerplate across programs, but there are a few notable exceptions. The evolution of the text of the provision, as OFAC has implemented it in regulations since 1995, can itself serve as useful guidance concerning OFAC's view of the scope of the /TWEA-derived exemption for informational materials. The notable differences in the text of the provisions are addressed in the system note referred to above. Note, however, that all evidence shows to OFAC to interpret this definitional provision harmoniously across programs, so textual differences seen across provisions implemented in different eras should not be taken to imply that there are substantive differences.

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31 CFR § 542.310 Information or informational materials.

TURBOFAC Commentary (190 words)