The following two notices where published in the Federal Register on Wednesday, May 30, 2001. Both notices, Comment Request for Reporting and Procedures Regulations and Comment Request for Payments to Persons Who Hold Certain Categories of Judgments Against Cuba or Iran can be found in the legal section of this site.
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
PROPOSED COLLECTION; COMMENT REQUEST FOR REPORTING AND PROCEDURES REGULATIONS
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Notice and request for comments.
SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Office of Foreign Assets Control ("OFAC") within the Department of the Treasury is soliciting comments concerning OFAC's information collection requirements contained within OFAC's Reporting and Procedures Regulations set forth at 31 CFR Part 501.
DATES: Written comments should be received on or before [60 days after date of publication] to be assured of consideration.
ADDRESSES: Direct all written comments to Dennis P. Wood, Chief, Compliance Programs Division, or Barbara C. Hammerle, Acting Chief Counsel, Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, N.W., Annex -- 2d Floor, Washington, D.C. 20220.
FOR FURTHER INFORMATION CONTACT: Requests for additional information about the filings or procedures should be directed to Dennis P. Wood, Chief, Compliance Programs Division, Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, N.W., 1500 Pennsylvania Avenue, Annex -- 2d Floor, Washington, D.C. 20220.
SUPPLEMENTARY INFORMATION:
Title: Reporting and Procedures Regulations
OMB Number: 1505-0164
Agency Form Number: TD-F-90-22.50
Abstract: The collections of information are contained in Secs. 501.601 through 501.605, 501.801 and 501.803 through 501.807 and pertain to the operation of various economic sanctions programs administered by OFAC under 31 CFR Chapter V. Section 501.601 relates to the maintenance of records and � 501.602 relates to OFAC demands for information relative to any transaction or property subject to the provisions of 31 CFR Chapter V. Section 501.603 imposes reporting requirements pertaining to blocked assets and retained funds transfers. This information is required by OFAC to monitor compliance with regulatory requirements, to support diplomatic negotiations concerning the targets of sanctions, and to support settlement negotiations addressing U.S. claims. Section 501.604 requires the filing of reports for compliance purposes by U.S. financial institutions where a funds transfer is not required to be blocked but is rejected because the underlying transaction is otherwise prohibited. Section 501.605 requires reporting of information pertaining to litigation, arbitration, and other binding alternative dispute resolution proceedings in the United States to prevent the intentional or inadvertent transfer through such proceedings of blocked property or retained funds. Sections 501.801 and 501.803 through 501.805 relate to license requests; the amendment, modification or revocation of licenses; rulemaking; and document requests. Section 501.806 sets forth the procedures to be followed by a person seeking to have funds released at a financial institution if the person believes that the funds were blocked due to mistaken identity. Section 501.807 sets forth the procedures to be followed by persons seeking administrative reconsideration of their designation or that of a vessel as blocked, or who wish to assert that the circumstances resulting in the designation are no longer applicable. The likely respondents and recordkeepers affected by the information collections contained in part 501 are financial institutions, business organizations, and legal representatives. The estimated total annual reporting and/or recordkeeping burden is approximately 26,250 hours. The estimated annual burden per respondent/record keeper varies from thirty minutes to 10 hours, depending on individual circumstances, with an estimated average of 1.25 hours. The estimated number of respondents and/or record keepers is 21,000. The estimated annual frequency of responses: 1-12.
Current Actions: There are no changes being made to the notice at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Financial institutions, business organizations, and legal representatives.
Estimated Number of Respondents: 21,000
Estimated Time Per Respondent: 1.25 hours
Estimated Total Annual Burden Hours: 26,250
The following paragraph applies to all of the collections of information covered by this notice:
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained for five years.
Request for Comments
Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information has practical utility; (b) the accuracy of the agency's estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.
Approved: May 23, 2001.
Barbara C. Hammerle
Acting Chief Counsel
Office of Foreign Assets Control.
BILLING CODE 4810-25-P
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
PROPOSED COLLECTION; COMMENT REQUEST FOR PAYMENTS TO PERSONS WHO HOLD CERTAIN CATEGORIES OF JUDGMENTS AGAINST CUBA OR IRAN
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Notice and request for comments.
SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Office of Foreign Assets Control ("OFAC") within the Department of the Treasury is soliciting comments concerning OFAC's information collection requirements contained within the procedures set forth for persons to establish eligibility for payments authorized by section 2002 of the Victims of Trafficking and Violence Protection Act of 2000 (Act), Public Law No. 106-386 ("Section 2002"). Section 2002 directs the Secretary of the Treasury to make payments to persons who hold certain categories of judgments against Cuba or Iran in suits brought under 28 U.S.C. 1605(a)(7). The procedures pertaining to establishing eligibility for such payments are set forth in Federal Register notices published on November 22, 2000 at 65 FR 70382 and December 15, 2000 at 65 FR 78533.
DATES: Written comments should be received on or before [60 days after date of publication] to be assured of consideration.
ADDRESSES: Direct all written comments to Dennis P. Wood, Chief, Compliance Programs Division, or Barbara C. Hammerle, Acting Chief Counsel, Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, N.W., Annex -- 2d Floor, Washington, D.C. 20220.
FOR FURTHER INFORMATION CONTACT: Requests for additional information about the filings or procedures should be directed to Dennis P. Wood, Chief, Compliance Programs Division, Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, N.W., 1500 Pennsylvania Avenue, Annex -- 2d Floor, Washington, D.C. 20220.
SUPPLEMENTARY INFORMATION:
Title: Procedures for Payments to Persons Who Hold Certain Categories of Judgments Against Cuba or Iran
OMB Number: 1505-0177
Abstract: This information collection pertains to the procedures pertaining to payments to persons who hold certain categories of judgments against Cuba or Iran set forth in the Federal Register notices published by OFAC on November 22, 2000 and December 15, 2000. The collection of this information is required to enable the Department of Treasury to determine the eligibility of an applicant under Section 2002 of Public Law No. 106-386 and to complete processing of payments. The collection of information is voluntary, but submission of the information is required by OFAC in processing applications for payments authorized by Section 2002. The estimated average burden per applicant is 12 hours.
Current Actions: There are no changes being made to the notice at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Persons who hold certain judgments against Cuba or Iran.
Estimated Number of Respondents: 20
Estimated Time Per Respondent: 12 hours
Estimated Total Annual Burden Hours: 240
The following paragraph applies to all of the collections of information covered by this notice.
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid Office of Management and Budget ("OMB") control number. Books or records relating to a collection of information must be retained for five years.
Request for Comments
Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information has practical utility; (b) the accuracy of the agency's estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.
Approved: May 23, 2001.
Barbara C. Hammerle
Acting Chief Counsel
Office of Foreign Assets Control.
BILLING CODE 4810-25-P