50 U.S.C. § 4305 — Suspension of provisions relating to ally

Page 1058 TITLE 50—WAR AND NATIONAL DEFENSE § 4305 sions of sections 4303 and 4315 of this title shall forthwith apply to all trade or to any attempt to trade with, to, from, for, buy, on account of, or on behalf of, or for the benefit of such company or other person: Provided, however, That after such refusal or revocation, anything in this chapter to the contrary notwithstanding, it shall be lawful for a policyholder or for an insur- ance company, not an enemy or ally of enemy, holding insurance or having effected reinsurance in or with such enemy or ally of enemy insur- ance or reinsurance company, to receive pay- ment of, and for such enemy or ally of enemy in- surance or reinsurance company to pay any pre- mium, return premium, claim, money, security, or other property due or which may become due on or in respect to such insurance or reinsurance in force at the date of such refusal or revocation of license; and nothing in this chapter shall viti- ate or nullify then existing policies or contracts of insurance or reinsurance, or the conditions thereof; and any such policyholder or insurance company, not an enemy or ally of enemy, having any claim to or upon money or other property of the enemy or ally of enemy insurance or rein- surance company in the custody or control of the alien property custodian, hereinafter pro- vided for, or of the Treasurer of the United States, may make application for the payment thereof and may institute suit as provided in section 4309 of this title. (b) During the present war, no enemy, or ally of enemy, and no partnership of which he is a member or was a member at the beginning of the war, shall for any purpose assume or use any name other than that by which such enemy or partnership was ordinarily known at the begin- ning of the war, except under license from the President. Whenever, during the present war, in the opin- ion of the President the public safety or public interest requires, the President may prohibit any or all foreign insurance companies from doing business in the United States, or the President may license such company or compa- nies to do business upon such terms as he may deem proper. (Oct. 6, 1917, ch. 106, § 4, 40 Stat. 413.) Editorial Notes REFERENCES IN TEXT For proclamation of April 6, 1917, 40 Stat. 1654, and proclamation of July 13, 1917, 40 Stat. 1684, referred to in subsec. (a), see World War I Presidential Proclama- tions notes below. This chapter, referred to in subsec. (a), was in the original ‘‘this Act’’, meaning act Oct. 6, 1917, ch. 106, 40 Stat. 411, known as the Trading with the enemy Act, also known as the Trading with the Enemy Act, which is classified principally to this chapter. For complete classification of this Act to the Code, see section 4301 of this title and Tables. CODIFICATION Section was formerly classified to section 4 of the former Appendix to this title prior to editorial reclassi- fication and renumbering as this section. Executive Documents TRANSFER OF FUNCTIONS Functions vested by law in Alien Property Custodian and Office of Alien Property Custodian transferred to Attorney General by Reorg. Plan No. 1 of 1947, § 101, eff. July 1, 1947, 12 F.R. 4534, 61 Stat. 951, set out in the Ap- pendix to Title 5, Government Organization and Em- ployees. WORLD WAR I PRESIDENTIAL PROCLAMATIONS Proc. Apr. 16, 1917, 40 Stat. 1654, declared and pro- claimed that branch establishments of German insur- ance companies doing business in the United States would be authorized to continue to do so, subject to the rules and regulations of the State in which such estab- lishment’s principal office is located, but prohibited transmission of any funds outside of the United States or the use of any funds for the establishment of any credit within or outside of the United States to or for the benefit or use of the enemy or any of its allies with- out the permission of the Federal Government. Proc. July 13, 1917, 40 Stat. 1684, declared and pro- claimed that branch establishments of German insur- ance companies doing business in the United States would be prohibited from transacting the business of marine and war risk insurance either as direct insurers or re-insurers and directed that such prohibition would extend and operate to suspend all existing contracts for the period of the war. § 4305. Suspension of provisions relating to ally of enemy; regulation of transactions in for- eign exchange of gold or silver, property transfers, vested interests, enforcement and penalties (a) The President, if he shall find it compat- ible with the safety of the United States and with the successful prosecution of the war, may, by proclamation, suspend the provisions of this chapter so far as they apply to an ally of enemy, and he may revoke or renew such suspension from time to time; and the President may grant licenses, special or general, temporary or other- wise, and for such period of time and containing such provisions and conditions as he shall pre- scribe, to any person or class of persons to do business as provided in subsection (a) of section 4304 of this title, and to perform any act made unlawful without such license in section 4303 of this title, and to file and prosecute applications under subsection (b) of section 4310 of this title; and he may revoke or renew such licenses from time to time, if he shall be of opinion that such grant or revocation or renewal shall be compat- ible with the safety of the United States and with the successful prosecution of the war; and he may make such rules and regulations, not in- consistent with law, as may be necessary and proper to carry out the provisions of this chap- ter; and the President may exercise any power or authority conferred by this chapter through such officer or officers as he shall direct. If the President shall have reasonable cause to believe that any act is about to be performed in violation of section 4303 of this title he shall have authority to order the postponement of the performance of such act for a period not exceed- ing ninety days, pending investigation of the facts by him. (b)(1) During the time of war, the President may, through any agency that he may des- ignate, and under such rules and regulations as he may prescribe, by means of instructions, li- censes, or otherwise— (A) investigate, regulate, or prohibit, any transactions in foreign exchange, transfers of credit or payments between, by, through, or to Page 1059 TITLE 50—WAR AND NATIONAL DEFENSE § 4305 1 See References in Text note below. any banking institution, and the importing, exporting, hoarding, melting, or earmarking of gold or silver coin or bullion, currency or securities, and (B) investigate, regulate, direct and compel, nullify, void, prevent or prohibit, any acquisi- tion holding, withholding, use, transfer, with- drawal, transportation, importation or expor- tation of, or dealing in, or exercising any right, power, or privilege with respect to, or transactions involving, any property in which any foreign country or a national thereof has any interest, by any person, or with respect to any property, subject to the jurisdiction of the United States; and any property or interest of any foreign country or national thereof shall vest, when, as, and upon the terms, directed by the President, in such agency or person as may be designated from time to time by the President, and upon such terms and conditions as the President may prescribe such interest or property shall be held, used, administered, liquidated, sold, or other- wise dealt with in the interest of and for the benefit of the United States, and such des- ignated agency or person may perform any and all acts incident to the accomplishment or fur- therance of these purposes; and the President shall, in the manner hereinabove provided, re- quire any person to keep a full record of, and to furnish under oath, in the form of reports or otherwise, complete information relative to any act or transaction referred to in this subdivision either before, during, or after the completion thereof, or relative to any interest in foreign property, or relative to any property in which any foreign country or any national thereof has or has had any interest, or as may be otherwise necessary to enforce the provisions of this sub- division, and in any case in which a report could be required, the President may, in the manner hereinabove provided, require the production, or if necessary to the national security or defense, the seizure, of any books of account, records, contracts, letters, memoranda, or other papers, in the custody or control of such person. (2) Any payment, conveyance, transfer, assign- ment, or delivery of property or interest there- in, made to or for the account of the United States, or as otherwise directed, pursuant to this subdivision or any rule, regulation, instruc- tion, or direction issued hereunder shall to the extent thereof be a full acquittance and dis- charge for all purposes of the obligation of the person making the same; and no person shall be held liable in any court for or in respect to any- thing done or omitted in good faith in connec- tion with the administration of, or in pursuance of and in reliance on, this subdivision, or any rule, regulation, instruction, or direction issued hereunder. (3) As used in this subdivision the term ‘‘United States’’ means the United States and any place subject to the jurisdiction thereof: Provided, however, That the foregoing shall not be construed as a limitation upon the power of the President, which is hereby conferred, to pre- scribe from time to time, definitions, not incon- sistent with the purposes of this subdivision, for any or all of the terms used in this subdivision. As used in this subdivision the term ‘‘person’’ means an individual, partnership, association, or corporation. (4) The authority granted to the President by this section does not include the authority to regulate or prohibit, directly or indirectly, the importation from any country, or the expor- tation to any country, whether commercial or otherwise, regardless of format or medium of transmission, of any information or informa- tional materials, including but not limited to, publications, films, posters, phonograph records, photographs, microfilms, microfiche, tapes, compact disks, CD ROMs, artworks, and news wire feeds. The exports exempted from regula- tion or prohibition by this paragraph do not in- clude those which are otherwise controlled for export under section 4604 1 of this title, or under section 4605 1 of this title to the extent that such controls promote the nonproliferation or antiterrorism policies of the United States, or with respect to which acts are prohibited by chapter 37 of title 18. (Oct. 6, 1917, ch. 106, § 5, 40 Stat. 415; Sept. 24, 1918, ch. 176, § 5, 40 Stat. 966; Mar. 9, 1933, ch. 1, § 2, 48 Stat. 1; May 7, 1940, ch. 185, § 1, 54 Stat. 179; Dec. 18, 1941, ch. 593, title III, § 301, 55 Stat. 839; Proc. No. 2695, eff. July 4, 1946, 11 F.R. 7517, 60 Stat. 1352; Pub. L. 95–223, title I, §§ 101(a), 102, 103(b), Dec. 28, 1977, 91 Stat. 1625, 1626; Pub. L. 100–418, title II, § 2502(a)(1), Aug. 23, 1988, 102 Stat. 1371; Pub. L. 103–236, title V, § 525(b)(1), Apr. 30, 1994, 108 Stat. 474.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsec. (a), was in the original ‘‘this Act’’, meaning act Oct. 6, 1917, ch. 106, 40 Stat. 411, known as the Trading with the enemy Act, also known as the Trading with the Enemy Act, which is classified principally to this chapter. For complete classification of this Act to the Code, see section 4301 of this title and Tables. Sections 4604 and 4605 of this title, referred to in sub- sec. (b)(4), were repealed by Pub. L. 115–232, div. A, title XVII, § 1766(a), Aug. 13, 2018, 132 Stat. 2232. CODIFICATION Words ‘‘, including the Philippine Islands, and the several courts of first instance of the Commonwealth of the Philippine Islands shall have jurisdiction in all cases, civil or criminal, arising under this subdivision in the Philippine Islands and concurrent jurisdiction with the district courts of the United States of all cases, civil or criminal, arising upon the high seas’’ fol- lowing ‘‘to the jurisdiction thereof:’’ in subsec. (b)(3) were omitted upon the authority of 1946 Proc. No. 2695, which granted the Philippine Islands independence, and which was issued pursuant to section 1394 of Title 22, Foreign Relations and Intercourse. Proc. No. 2695 is set out as a note under section 1394 of Title 22. Section was formerly classified to section 5 of the former Appendix to this title prior to editorial reclassi- fication and renumbering as this section. Subsec. (b) was also formerly classified to section 95a of Title 12, Banks and Banking, prior to its omission from the Code. AMENDMENTS 1994—Subsec. (b)(4). Pub. L. 103–236 amended par. (4) generally. Prior to amendment, par. (4) read as follows: ‘‘The authority granted to the President in this sub- Page 1060 TITLE 50—WAR AND NATIONAL DEFENSE § 4305 section does not include the authority to regulate or prohibit, directly or indirectly, the importation from any country, or the exportation to any country, wheth- er commercial or otherwise, of publications, films, posters, phonograph records, photographs, microfilms, microfiche, tapes, or other informational materials, which are not otherwise controlled for export under section 4604 of this title or with respect to which no acts are prohibited by chapter 37 of title 18.’’ 1988—Subsec. (b)(4). Pub. L. 100–418 added par. (4). 1977—Subsec. (b)(1). Pub. L. 95–223, §§ 101(a), 102, sub- stituted ‘‘During the time of war, the President may, through any agency that he may designate, and under such rules and regulations’’ for ‘‘During the time of war or during any other period of national emergency declared by the President, the President may, through any agency, that he may designate, or otherwise, and under such rules and regulations’’ in provisions pre- ceding subpar. (A), and, in provisions following subpar. (B), struck out ‘‘; and the President may, in the man- ner hereinabove provided, take other and further meas- ures not inconsistent herewith for the enforcement of this subdivision’’ after ‘‘control of such person’’. Subsec. (b)(3). Pub. L. 95–223, § 103(b), struck out pro- visions that whoever willfully violated any of the pro- visions of this subdivision or of any license, order, rule, or regulation issued thereunder, could be fined not more than $10,000, or, if a natural person, could be im- prisoned for not more than ten years, or both; and that any officer, director, or agent of any corporation who knowingly participated in that violation could be pun- ished by a like fine, imprisonment, or both. 1941—Subsec. (b). Act Dec. 18, 1941, considerably broadened the powers of the President to take, admin- ister, control, use and liquidate foreign-owned property and added a flexibility of control which enabled the President and the agencies designated by him to cope with the problems surrounding alien property, its own- ership or control, on the basis of the particular facts in each case. 1940—Subsec. (b). Act May 7, 1940, included dealings in evidences of indebtedness or ownership of property in which foreign states, nationals or political subdivi- sions thereof have an interest. 1933—Subsec. (b). Act Mar. 9, 1933, among other things, extended President’s power to any time of war national emergency, permitted regulations to be issued by any agency designated by President, provided for furnishing under oath of complete information relative to transactions under the subsection, and placed sanc- tions on violations to the extent of a $10,000 fine or ten years imprisonment. 1918—Subsec. (b). Act Sept. 24, 1918, inserted provi- sions relating to hoarding or melting of gold or silver coin or bullion or currency and to regulation of trans- actions in bonds or certificates of indebtedness. Statutory Notes and Related Subsidiaries REGULATIONS Act Mar. 9, 1933, ch. 1, title I, § 1, 48 Stat. 1, provided that: ‘‘The actions, regulations, rules, licenses, orders and proclamations heretofore or hereafter taken, pro- mulgated, made, or issued by the President of the United States or the Secretary of the Treasury since March 4, 1933, pursuant to the authority conferred by subdivision (b) of section 5 of the act of October 6, 1917, as amended [50 U.S.C. 4305(b)], are hereby approved and confirmed.’’ LIMITATION ON EXERCISE OF EMERGENCY AUTHORITIES Pub. L. 103–236, title V, § 525(b)(2), Apr. 30, 1994, 108 Stat. 474, provided that: ‘‘The authorities conferred upon the President by section 5(b) of the Trading With the Enemy Act [50 U.S.C. 4305(b)], which were being ex- ercised with respect to a country on July 1, 1977, as a result of a national emergency declared by the Presi- dent before such date, and are being exercised on the date of the enactment of this Act [Apr. 30, 1994], do not include the authority to regulate or prohibit, directly or indirectly, any activity which, under section 5(b)(4) of the Trading With the Enemy Act, as amended by paragraph (1) of this subsection, may not be regulated or prohibited.’’ Pub. L. 100–418, title II, § 2502(a)(2), Aug. 23, 1988, 102 Stat. 1371, provided that: ‘‘The authorities conferred upon the President by section 5(b) of the Trading With the Enemy Act [50 U.S.C. 4305(b)], which were being ex- ercised with respect to a country on July 1, 1977, as a result of a national emergency declared by the Presi- dent before such date, and are being exercised on the date of the enactment of this Act [Aug. 23, 1988], do not include the authority to regulate or prohibit, directly or indirectly, any activity which, under section 5(b)(4) of the Trading With the Enemy Act, as added by para- graph (1) of this subsection, may not be regulated or prohibited.’’ EXTENSION AND TERMINATION OF NATIONAL EMERGENCY POWERS UNDER THE TRADING WITH THE ENEMY ACT Pub. L. 95–223, title I, § 101(b), (c), Dec. 28, 1977, 91 Stat. 1625, provided that: ‘‘(b) Notwithstanding the amendment made by sub- section (a) [amending this section], the authorities con- ferred upon the President by section 5(b) of the Trading With the Enemy Act [50 U.S.C. 4305(b)], which were being exercised with respect to a country on July 1, 1977, as a result of a national emergency declared by the President before such date, may continue to be ex- ercised with respect to such country, except that, un- less extended, the exercise of such authorities shall ter- minate (subject to the savings provisions of the second sentence of section 101(a) of the National Emergencies Act [50 U.S.C. 1601(a)]) at the end of the two-year period beginning on the date of enactment of the National Emergencies Act [Sept. 14, 1976]. The President may ex- tend the exercise of such authorities for one-year peri- ods upon a determination for each such extension that the exercise of such authorities with respect to such country for another year is in the national interest of the United States. ‘‘(c) The termination and extension provisions of sub- section (b) of this section supersede the provisions of section 101(a) [50 U.S.C. 1601(a)] and of title II [50 U.S.C. 1621 et seq.] of the National Emergencies Act to the ex- tent that the provisions of subsection (b) of this section are inconsistent with those provisions.’’ Executive Documents DELEGATION OF FUNCTIONS President’s powers under subsec. (b) of this section delegated during World War II to Secretary of the Treasury by Memorandum of the President dated Feb. 12, 1942, 7 F.R. 1409, and to Alien Property Custodian by Ex. Ord. No. 9095, Mar. 11, 1942, 7 F.R. 1971. Office of World War II Alien Property Custodian ter- minated and powers, duties, and functions vested in or transferred or delegated to such Office or in the Alien Property Custodian transferred to Attorney General, see Ex. Ord. No. 9788, set out under section 4306 of this title. PROC. NO. 8271. TERMINATION OF THE EXERCISE OF AU- THORITIES UNDER THE TRADING WITH THE ENEMY ACT WITH RESPECT TO NORTH KOREA Proc. No. 8271, June 26, 2008, 73 F.R. 36785, provided: I, GEORGE W. BUSH, President of the United States of America, by the authority vested in me by the Con- stitution and the laws of the United States, including section 101(b) of Public Law 95–223 (91 Stat. 1625; 50 U.S.C. App. 5(b) note) [now 50 U.S.C. 4305 note], hereby find that the continuation of the exercise of authorities under the Trading With the Enemy Act (50 U.S.C. App. 1 et seq.) [now 50 U.S.C. 4301 et seq.] (TWEA) with re- spect to North Korea, as authorized in Proclamation 2914 of December 16, 1950, most recently continued under Presidential Determination 2007–32 of September Page 1061 TITLE 50—WAR AND NATIONAL DEFENSE § 4305 13, 2007 (72 FR 53407), and implemented by the regula- tions set forth below, is no longer in the national inter- est of the United States. SECTION 1. The exercise of TWEA authorities with re- spect to North Korea, which were implemented by the Foreign Assets Control Regulations, 31 C.F.R. part 500, and the Transaction Control Regulations, 31 C.F.R. part 505, and that were continued by Presidential De- termination 2007–32 of September 13, 2007, is termi- nated, and Presidential Determination 2007–32 is re- scinded with respect to North Korea. SEC. 2. The Secretary of the Treasury is authorized and directed to take all appropriate measures within the Secretary’s authority to give effect to this procla- mation. SEC. 3. This proclamation is not intended to, and does not, create any right, benefit, or privilege, substantive or procedural, enforceable at law or in equity, by any party against the United States, its departments, agen- cies, instrumentalities, or entities, its officers or em- ployees, or any other person. SEC. 4. This proclamation is effective at 12:01 a.m. eastern daylight time on June 27, 2008. IN WITNESS WHEREOF, I have hereunto set my hand this twenty-sixth day of June, in the year of our Lord two thousand eight, and of the Independence of the United States of America the two hundred and thir- ty-second. GEORGE W. BUSH. EX. ORD. NO. 8389. REGULATING TRANSACTIONS IN FOR- EIGN EXCHANGE AND FOREIGN-OWNED PROPERTY, PRO- VIDING FOR THE REPORTING OF ALL FOREIGN-OWNED PROPERTY Ex. Ord. No. 8389, Apr. 10, 1940, 5 F.R. 1400, as amended by Ex. Ord. No. 8405, May 10, 1940, 5 F.R. 1677; Ex. Ord. No. 8446, June 17, 1940, 5 F.R. 2279; Ex. Ord. No. 8484, July 15, 1940, 5 F.R. 2586; Ex. Ord. No. 8493, July 25, 1940, 5 F.R. 2667; Ex. Ord. No. 8565, Oct. 10, 1940, 5 F.R. 4062; Ex. Ord. No. 8701, Mar. 4, 1941, 6 F.R. 1285; Ex. Ord. No. 8711, Mar. 13, 1941, 6 F.R. 1443; Ex. Ord. No. 8721, Mar. 24, 1941, 6 F.R. 1622; Ex. Ord. No. 8746, Apr. 28, 1941, 6 F.R. 2187; Ex. Ord. No. 8785, June 14, 1941, 6 F.R. 2897; Ex. Ord. No. 8832, July 26, 1941, 6 F.R. 3715; Ex. Ord. No. 8963, Dec. 9, 1941, 6 F.R. 6348; Ex. Ord. No. 8998, Dec. 26, 1941, 6 F.R. 6787, provided: SECTION 1. CERTAIN FOREIGN BANKING TRANSACTIONS PROHIBITED All of the following transactions are prohibited, ex- cept as specifically authorized by the Secretary of the Treasury by means of regulations, rulings, instruc- tions, licenses, or otherwise, if (i) such transactions are by, or on behalf of, or pursuant to the direction of any foreign country designated in this Order, or any na- tional thereof, or (ii) such transactions involve prop- erty in which any foreign country designated in this Order, or any national thereof, has at any time on or since the effective date of this Order had any interest of any nature whatsoever, direct or indirect: A. All transfers of credit between any banking insti- tutions within the United States; and all transfers of credit between any banking institution within the United States and any banking institution outside the United States (including any principal, agent, home of- fice, branch, or correspondent outside the United States, of a banking institution within the United States); B. All payments by or to any banking institution within the United States; C. All transactions in foreign exchange by any person within the United States; D. The export or withdrawal from the United States, or the earmarking of gold or silver coin or bullion or currency by any person within the United States; E. All transfers, withdrawals or exportations of, or dealings in, any evidences of indebtedness or evidences of ownership of property by any person within the United States; and F. Any transaction for the purpose or which has the effect of evading or avoiding the foregoing prohibitions. SECTION 2. DEALINGS IN FOREIGN SECURITIES; REGULATIONS A. All of the following transactions are prohibited, except as specifically authorized by the Secretary of the Treasury by means of regulations, rulings, instruc- tions, licenses, or otherwise: (1) The acquisition, disposition or transfer of, or other dealing in, or with respect to, any security or evi- dence thereof on which there is stamped or imprinted, or to which there is affixed or otherwise attached, a tax stamp or other stamp of a foreign country designated in this Order or a notarial or similar seal which by its contents indicates that it was stamped, imprinted, af- fixed or attached within such foreign country, or where the attendant circumstances disclose or indicate that such stamp or seal may, at any time, have been stamped, imprinted, affixed or attached thereto; and (2) The acquisition by, or transfer to, any person within the United States of any interest in any secu- rity or evidence thereof if the attendant circumstances disclose or indicate that the security or evidence there- of is not physically situated within the United States. B. The Secretary of the Treasury may investigate, regulate, or prohibit under such regulations, rulings, or instructions as he may prescribe, by means of licenses or otherwise, the sending, mailing, importing or other- wise bringing, directly or indirectly, into the United States, from any foreign country, of any securities or evidences thereof or the receiving or holding in the United States of any securities or evidences thereof so brought into the United States. SECTION 3. FOREIGN COUNTRIES AFFECTED; EFFECTIVE DATE OF PROHIBITIONS The term ‘‘foreign country designated in this Order’’ means a foreign country included in the following schedule, and the term ‘‘effective date of this Order’’ means with respect to any such foreign country, or any national thereof, the date specified in the following schedule: (a) April 8, 1940— Norway and Denmark; (b) May 10, 1940— The Netherlands, Belgium and Luxembourg; (c) June 17, 1940— France (including Monaco); (d) July 10, 1940— Latvia, Estonia and Lithuania; (e) October 9, 1940— Rumania; (f) March 4, 1941— Bulgaria; (g) March 13, 1941— Hungary; (h) March 24, 1941— Yugoslavia; (i) April 28, 1941— Greece; and (j) June 14, 1941— Albania, Andorra, Austria, Czechoslovakia, Danzig, Finland, Germany, Italy, Liechtenstein, Poland, Portugal, San Marino, Spain, Page 1062 TITLE 50—WAR AND NATIONAL DEFENSE § 4305 Sweden, Switzerland, and Union of Soviet Socialist Republics; (k) June 14, 1941— China and Japan; (l) June 14, 1941— Thailand; (m) June 14, 1941— Hong Kong. The ‘‘effective date of this Order’’ with respect to any foreign country not designated in this Order shall be deemed to be June 14, 1941. SECTION 4. RECORDS OF FOREIGN BANKING AND SECURITY TRANSACTIONS; INVESTIGATIONS A. The Secretary of the Treasury and/or the Attorney General may require, by means of regulations, rulings, instructions, or otherwise, any person to keep a full record of, and to furnish under oath, in the form of re- ports or otherwise, from time to time and at any time or times, complete information relative to, any trans- action referred to in section 5(b) of the Act of October 6, 1917 (40 Stat. 415) [50 U.S.C. 4305(b)], as amended, or relative to any property in which any foreign country or any national thereof has any interest of any nature whatsoever, direct or indirect, including the production of any books of account, contracts, letters, or other pa- pers, in connection therewith, in the custody or control of such person, either before or after such transaction is completed; and the Secretary of the Treasury and/or the Attorney General may, through any agency, inves- tigate any such transaction or act, or any violation of the provisions of this Order. B. Every person engaging in any of the transactions referred to in sections 1 and 2 of this Order shall keep a full record of each such transaction engaged in by him, regardless of whether such transaction is effected pursuant to license or otherwise, and such record shall be available for examination for at least one year after the date of such transaction. SECTION 5. DEFINITIONS A. As used in the first paragraph of section 1 of this Order ‘‘transactions (which) involve property in which any foreign country designated in this Order, or any national thereof, has * * * any interest of any nature whatsoever, direct or indirect,’’ shall include but not by way of limitation (i) any payment or transfer to any such foreign country or national thereof, (ii) any ex- port or withdrawal from the United States to such for- eign country, and (iii) any transfer of credit, or pay- ment of an obligation, expressed in terms of the cur- rency of such foreign country. B. The term ‘‘United States’’ means the United States and any place subject to the jurisdiction there- of, and the term ‘‘continental United States’’ means the States of the United States, the District of Colum- bia, and the Territory of Alaska: Provided, however, That for the purposes of this Order the term ‘‘United States’’ shall not be deemed to include any territory included within the term ‘‘foreign country’’ as defined in paragraph D of this section. C. The term ‘‘person’’ means an individual, partner- ship, association, corporation, or other organization. D. The term ‘‘foreign country’’ shall include, but not by way of limitation, (i) The state and the government thereof on the effec- tive date of this Order as well as any political subdivi- sion, agency, or instrumentality thereof or any terri- tory, dependency, colony, protectorate, mandate, do- minion, possession or place subject to the jurisdiction thereof. (ii) Any other government (including any political subdivision, agency, or instrumentality thereof) to the extent and only to the extent that such government ex- ercises or claims to exercise de jure or de facto sov- ereignty over the area which on such effective date constituted such foreign country, and (iii) Any territory which on or since the effective date of this Order is controlled or occupied by the mili- tary, naval or police forces or other authority of such foreign country; (iv) Any person to the extent that such person is, or has been, or to the extent that there is reasonable cause to believe that such person is, or has been, since such effective date, acting or purporting to act directly or indirectly for the benefit or on behalf of any of the foregoing. Hong Kong shall be deemed to be a foreign country within the meaning of this subdivision. E. The term ‘‘national’’ shall include, (i) Any person who has been domiciled in, or a sub- ject, citizen or resident of a foreign country at any time on or since the effective date of this Order, (ii) Any partnership, association, corporation or other organization, organized under the laws of, or which on or since the effective date of this Order had or has had its principal place of business in such for- eign country, or which on or since such effective date was or has been controlled by, or a substantial part of the stock, shares, bonds, debentures, notes, drafts, or other securities or obligations of which, was or has been owned or controlled by, directly or indirectly, such foreign country and/or one or more nationals thereof as herein defined. (iii) Any person to the extent that such person is, or has been, since such effective date, acting or purporting to act directly or indirectly for the benefit or on behalf of any national of such foreign country, and (iv) Any other person who there is reasonable cause to believe is a ‘‘national’’ as herein defined. In any case in which by virtue of the foregoing defini- tion a person is a national of more than one foreign country, such person shall be deemed to be a national of each such foreign country. In any case in which the combined interests of two or more foreign countries designated in this Order and/or nationals thereof are sufficient in the aggregate to constitute, within the meaning of the foregoing, control of 25 per centum or more of the stock, shares, bonds, debentures, notes, drafts, or other securities or obligations of a partner- ship, association, corporation or other organization, but such control or a substantial part of such stock, shares, bonds, debentures, notes, drafts, or other secu- rities or obligations is not held by any one such foreign country and/or national thereof, such partnership, asso- ciation, corporation or other organization shall be deemed to be a national of each of such foreign coun- tries. The Secretary of the Treasury shall have full power to determine that any person is or shall be deemed to be a ‘‘national’’ within the meaning of this definition, and the foreign country of which such per- son is or shall be deemed to be a national. Without lim- itation of the foregoing, the term ‘‘national’’ shall also include any other person who is determined by the Sec- retary of the Treasury to be, or to have been, since such effective date, acting or purporting to act directly or indirectly for the benefit or under the direction of a foreign country designated in this Order or national thereof, as herein defined. F. The term ‘‘banking institution’’ as used in this Order shall include any person engaged primarily or in- cidentally in the business of banking, of granting or transferring credits, or of purchasing or selling foreign exchange or procuring purchasers and sellers thereof, as principal or agent, or any person holding credits for others as a direct or incidental part of his business, or brokers, and each principal, agent, home office, branch or correspondent of any person so engaged shall be re- garded as a separate ‘‘banking institution’’. G. The term ‘‘this Order’’, as used herein, shall mean Executive Order No. 8389 of April 10, 1940, as amended. SECTION 6. CONSTRUCTION WITH EX. ORD. NO. 6560; SAVING CLAUSE Executive Order No. 8389 of April 10, 1940, as amended, shall no longer be deemed to be an amendment to or a part of Executive Order No. 6560 of January 15, 1934. Ex- Page 1063 TITLE 50—WAR AND NATIONAL DEFENSE § 4305 ecutive Order No. 6560 of January 15, 1934, and the Reg- ulations of November 12, 1934, are hereby modified in so far as they are inconsistent with the provisions of this Order, and except as so modified, continue in full force and effect. Nothing herein shall be deemed to revoke any license, ruling, or instruction now in effect and issued pursuant to Executive Order No. 6560 of January 15, 1934, as amended, or pursuant to this Order; pro- vided, however, that all such licenses, rulings, or in- structions shall be subject to the provisions hereof. Any amendment, modification or revocation by or pur- suant to the provisions of this Order of any orders, reg- ulations, rulings, instructions or licenses shall not af- fect any act done, or any suit or proceeding had or commenced in any civil or criminal case prior to such amendment, modification or revocation, and all pen- alties, forfeitures and liabilities under any such orders, regulations, rulings, instructions or licenses shall con- tinue and may be enforced as if such amendment, modi- fication or revocation had not been made. SECTION 7. REGULATIONS BY SECRETARY OF THE TREASURY Without limitation as to any other powers or author- ity of the Secretary of the Treasury or the Attorney General under any other provision of this Order, the Secretary of the Treasury is authorized and empowered to prescribe from time to time regulations, rulings, and instructions to carry out the purposes of this Order and to provide therein or otherwise the conditions under which licenses may be granted by or through such offi- cers or agencies as the Secretary of the Treasury may designate, and the decision of the Secretary with re- spect to the granting, denial or other disposition of an application or license shall be final. SECTION 8. OFFENSES AND PENALTIES UNDER ACT OCT. 6, 1917 Section 5(b) of the Act of October 6, 1917, as amended [50 U.S.C. 4305(b)], provides in part: ‘‘* * * Whoever willfully violates any of the provisions of this subdivision or of any license, order, rule or regu- lation issued thereunder, shall, upon conviction, be fined not more than $10,000, or, if a natural person, may be imprisoned for not more than ten years, or both; and any officer, director, or agent of any corporation who knowingly participates in such violation may be pun- ished by a like fine, imprisonment, or both.’’ SECTION 9. AMENDMENTS OF ORDER AND REGULATIONS PRESCRIBED THEREUNDER This Order and any regulations, rulings, licenses or instructions issued hereunder may be amended, modi- fied or revoked at any time. [Ex. Ord. No. 8389 and the regulations and general rul- ings issued thereunder by the Secretary of the Treas- ury were approved and confirmed by Res. May 7, 1940, ch. 185, § 2, 54 Stat. 179.] [Ex. Ord. No. 9760, July 24, 1946, 11 F.R. 7999, 50 U.S.C. 4306 note, relating to diplomatic property of Germany and Japan in the United States, supersedes conflicting provisions of Ex. Ord. No. 8389, set out above.] EXECUTIVE ORDERS NOS. 8446, 8484, 8565, 8701, 8711, 8721, 8746 The application of Ex. Ord. No. 6560, §§ 9 to 14, to French property by Ex. Ord. No. 8446, 5 F.R. 2279; to Latvian, Estonian and Lithuanian property by Ex. Ord. No. 8484, 5 F.R. 2586; to Rumanian property by Ex. Ord. No. 8565, 5 F.R. 4062; to Bulgarian property by Ex. Ord. No. 8701, 6 F.R. 1285; to Hungarian property by Ex. Ord. No. 8711, 6 F.R. 1443; to Yugoslav property by Ex. Ord. No. 8721, 6 F.R. 1622; to Greek property by Ex. Ord. No. 8746, 6 F.R. 2187, was incorporated in the provisions of Ex. Ord. No. 8389 as amended by Ex. Ord. No. 8785, set out above. EX. ORD. NO. 9747. FUNCTIONS OF ALIEN PROPERTY CUS- TODIAN AND TREASURY DEPARTMENT CONTINUED IN PHILIPPINES Ex. Ord. No. 9747, July 3, 1946, 11 F.R. 7518, provided: The terms and provisions of Executive Order 9095 of March 11, 1942, as amended [formerly set out as a note under section 6 of the Appendix to Title 50, War and Na- tional Defense], and Executive Order No. 8389 of April 10, 1940, as amended [set out above], shall continue in force in the Philippines after July 4, 1946, and all pow- ers and authority delegated by the said Executive Or- ders to the Alien Property Custodian and to the Sec- retary of the Treasury, respectively, shall after July 4, 1946, continue to be exercised in the Philippines by the said officers, respectively, as therein provided. CONTINUATION OF THE EXERCISE OF CERTAIN AUTHORITIES UNDER THE TRADING WITH THE ENEMY ACT Determination of President of the United States, No. 2024–11, Sept. 13, 2024, 89 F.R. 76397, provided: Memorandum for the Secretary of State [and] the Secretary of the Treasury Under section 101(b) of Public Law 95–223 (91 Stat. 1625; 50 U.S.C. 4305 note), and a previous determination on September 13, 2023 (88 FR 64347, September 18, 2023), the exercise of certain authorities under the Trading With the Enemy Act is scheduled to expire on Sep- tember 14, 2024. I hereby determine that the continuation of the exer- cise of those authorities with respect to Cuba for 1 year is in the national interest of the United States. Therefore, consistent with the authority vested in me by section 101(b) of Public Law 95–223, I continue for 1 year, until September 14, 2025, the exercise of those au- thorities with respect to Cuba, as implemented by the Cuban Assets Control Regulations, 31 CFR part 515. The Secretary of the Treasury is authorized and di- rected to publish this determination in the Federal Register. J.R. BIDEN, JR. Prior extensions were contained in the following: Determination of President of the United States, No. 2023–10, Sept. 13, 2023, 88 F.R. 64347. Determination of President of the United States, No. 2022–22, Sept. 2, 2022, 87 F.R. 54859. Determination of President of the United States, No. 2021–12, Sept. 7, 2021, 86 F.R. 50831. Determination of President of the United States, No. 2020–10, Sept. 9, 2020, 85 F.R. 57075. Determination of President of the United States, No. 2019–23, Sept. 13, 2019, 84 F.R. 49189. Determination of President of the United States, No. 2018–11, Sept. 10, 2018, 83 F.R. 46347. Determination of President of the United States, No. 2017–11, Sept. 8, 2017, 82 F.R. 42927. Determination of President of the United States, No. 2016–11, Sept. 13, 2016, 81 F.R. 64047. Determination of President of the United States, No. 2015–11, Sept. 11, 2015, 80 F.R. 55503. Determination of President of the United States, No. 2014–14, Sept. 5, 2014, 79 F.R. 54183. Determination of President of the United States, No. 2013–13, Sept. 12, 2013, 78 F.R. 57225. Determination of President of the United States, No. 2012–14, Sept. 10, 2012, 77 F.R. 56753. Determination of President of the United States, No. 2011–15, Sept. 13, 2011, 76 F.R. 57623. Determination of President of the United States, No. 2010–13, Sept. 2, 2010, 75 F.R. 54459. Determination of President of the United States, No. 2009–27, Sept. 11, 2009, 74 F.R. 47431. Determination of President of the United States, No. 2008–27, Sept. 12, 2008, 73 F.R. 54055. Determination of President of the United States, No. 2007–32, Sept. 13, 2007, 72 F.R. 53409. Determination of President of the United States, No. 2006–23, Sept. 13, 2006, 71 F.R. 54399. Determination of President of the United States, No. 2005–35, Sept. 12, 2005, 70 F.R. 54607. Determination of President of the United States, No. 2004–45, Sept. 10, 2004, 69 F.R. 55497. Determination of President of the United States, No. 2003–36, Sept. 12, 2003, 68 F.R. 54325. Page 1064 TITLE 50—WAR AND NATIONAL DEFENSE § 4306 1 See Transfer of Functions note below. Determination of President of the United States, No. 02–31, Sept. 13, 2002, 67 F.R. 58681. Determination of President of the United States, No. 2001–26, Sept. 12, 2001, 66 F.R. 47943. Determination of President of the United States, No. 2000–29, Sept. 12, 2000, 65 F.R. 55883. Determination of President of the United States, No. 99–36, Sept. 10, 1999, 64 F.R. 51885. Determination of President of the United States, No. 98–35, Sept. 11, 1998, 63 F.R. 50455. Determination of President of the United States, No. 97–32, Sept. 12, 1997, 62 F.R. 48729. Determination of President of the United States, No. 96–43, Aug. 27, 1996, 61 F.R. 46529. Determination of President of the United States, No. 95–41, Sept. 8, 1995, 60 F.R. 47659. Determination of President of the United States, No. 94–46, Sept. 8, 1994, 59 F.R. 47229. Determination of President of the United States, No. 93–38, Sept. 13, 1993, 58 F.R. 51209. Determination of President of the United States, No. 92–45, Aug. 28, 1992, 57 F.R. 43125. Determination of President of the United States, No. 91–52, Sept. 13, 1991, 56 F.R. 48415. Determination of President of the United States, No. 90–38, Sept. 5, 1990, 55 F.R. 37309. Determination of President of the United States, No. 89–25, Aug. 28, 1989, 54 F.R. 37089. Determination of President of the United States, No. 88–22, Sept. 8, 1988, 53 F.R. 35289. Memorandum of President of the United States, Aug. 27, 1987, 51 F.R. 33397. Memorandum of President of the United States, Aug. 20, 1986, 51 F.R. 30201. Memorandum of President of the United States, Sept. 5, 1985, 50 F.R. 36563. Memorandum of President of the United States, Sept. 11, 1984, 49 F.R. 35927. Memorandum of President of the United States, Sept. 7, 1983, 48 F.R. 40695. Memorandum of President of the United States, Sept. 8, 1982, 47 F.R. 39797. Memorandum of President of the United States, Sept. 10, 1981, 46 F.R. 45321. Memorandum of President of the United States, Sept. 8, 1980, 45 F.R. 59549. Memorandum of President of the United States, Sept. 12, 1979, 44 F.R. 53153. Memorandum of President of the United States, Sept. 8, 1978, 43 F.R. 40449. § 4306. Alien Property Custodian; general powers and duties The President is authorized to appoint, pre- scribe the duties of, and fix the salary of an offi- cial to be known as the alien property custo- dian, who shall be empowered to receive all money and property in the United States due or belonging to an enemy, or ally of enemy, which may be paid, conveyed, transferred, assigned, or delivered to said custodian under the provisions of this chapter; and to hold, administer, and ac- count for the same under the general direction of the President and as provided in this chapter. The President may further employ in the Dis- trict of Columbia and elsewhere and fix the com- pensation of such clerks, attorneys, investiga- tors, accountants, and other employees as he may find necessary for the due administration of the provisions of this chapter; Provided, That such clerks, investigators, accountants, and other employees shall be appointed from lists of eligibles to be supplied by the Civil Service Commission 1 and in accordance with the civil- service law. (Oct. 6, 1917, ch. 106, § 6, 40 Stat. 415; Pub. L. 92–310, title II, § 235, June 6, 1972, 86 Stat. 214; Pub. L. 94–273, § 11(5), Apr. 21, 1976, 90 Stat. 378; Pub. L. 100–418, title II, § 2501(b), Aug. 23, 1988, 102 Stat. 1371.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, was in the original ‘‘this Act’’, meaning act Oct. 6, 1917, ch. 106, 40 Stat. 411, known as the Trading with the enemy Act, also known as the Trading with the Enemy Act, which is classified principally to this chapter. For complete classification of this Act to the Code, see section 4301 of this title and Tables. CODIFICATION Section was formerly classified to section 6 of the former Appendix to this title prior to editorial reclassi- fication and renumbering as this section. Provisions that limited the salary of the alien prop- erty custodian to not more than $5,000 per annum have been omitted as obsolete and superseded. Sections 1202 and 1204 of the Classification Act of 1949, 63 Stat. 972, 973, repealed the Classification Act of 1923 and all other laws or parts of laws inconsistent with the 1949 Act. The Classification Act of 1949 was repealed by Pub. L. 89–554, Sept. 6, 1966, § 8(a), 80 Stat. 632, and reenacted as chapter 51 and subchapter III of chapter 53 of Title 5, Government Organization and Employees. Section 5102 of Title 5 contains the applicability provisions of the 1949 Act, and section 5103 of Title 5 authorizes the Of- fice of Personnel Management to determine the appli- cability to specific positions and employees. AMENDMENTS 1988—Pub. L. 100–418 struck out before period at end ‘‘: Provided further, That the President shall cause a de- tailed report to be made to Congress on the first day of April of each year of all proceedings had under this chapter during the year preceding. Such report shall contain a list of all persons appointed or employed, with the salary or compensation paid to each, and a statement of the different kinds of property taken into custody and the disposition made thereof’’. 1976—Pub. L. 94–273 substituted ‘‘April’’ for ‘‘Janu- ary’’. 1972—Pub. L. 92–310 struck out provisions which re- quired the Alien Property Custodian to give a bond. Executive Documents TRANSFER OF FUNCTIONS Functions vested by statute in United States Civil Service Commission transferred to Director of Office of Personnel Management (except as otherwise specified) by Reorg. Plan No. 2 of 1978, § 102, 43 F.R. 36037, 92 Stat. 3783, set out under section 1101 of Title 5, Government Organization and Employees, effective Jan. 1, 1979, as provided by section 1–102 of Ex. Ord. No. 12107, Dec. 28, 1978, 44 F.R. 1055, set out under section 1101 of Title 5. Functions vested by law in Alien Property Custodian or Office of Alien Property Custodian transferred to At- torney General by Reorg. Plan No. 1 of 1947, § 101, eff. July 1, 1947, 12 F.R. 4534, 61 Stat. 951, set out in the Ap- pendix to Title 5, Government Organization and Em- ployees. Jurisdiction over certain blocked assets transferred from Attorney General to Secretary of the Treasury, see Ex. Ord. No. 11281, set out below. EX. ORD. NO. 9760. AUTHORITY OF SECRETARY OF STATE REGARDING DIPLOMATIC PROPERTY OF GERMANY AND JAPAN Ex. Ord. No. 9760, July 23, 1946, 11 F.R. 7999, provided: 1. The Secretary of State is authorized and empow- ered as he deems necessary in the national interest to