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CITE

    50 USC Sec. 1702                                            01/08/2008

EXPCITE

    TITLE 50 - WAR AND NATIONAL DEFENSE
    CHAPTER 35 - INTERNATIONAL EMERGENCY ECONOMIC POWERS

HEAD

    Sec. 1702. Presidential authorities

STATUTE

    (a) In general
      (1) At the times and to the extent specified in section 1701 of
    this title, the President may, under such regulations as he may
    prescribe, by means of instructions, licenses, or otherwise -
        (A) investigate, regulate, or prohibit -
          (i) any transactions in foreign exchange,
          (ii) transfers of credit or payments between, by, through, or
        to any banking institution, to the extent that such transfers
        or payments involve any interest of any foreign country or a
        national thereof,
          (iii) the importing or exporting of currency or securities,
      by any person, or with respect to any property, subject to the
      jurisdiction of the United States;
        (B) investigate, block during the pendency of an investigation,
      regulate, direct and compel, nullify, void, prevent or prohibit,
      any acquisition, holding, withholding, use, transfer, withdrawal,
      transportation, importation or exportation 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.(!1)
        (C) when the United States is engaged in armed hostilities or
      has been attacked by a foreign country or foreign nationals,
      confiscate any property, subject to the jurisdiction of the
      United States, of any foreign person, foreign organization, or
      foreign country that he determines has planned, authorized,
      aided, or engaged in such hostilities or attacks against the
      United States; and all right, title, and interest in any property
      so confiscated shall vest, when, as, and upon the terms directed
      by the President, in such agency or person as the President may
      designate from time to time, and upon such terms and conditions
      as the President may prescribe, such interest or property shall
      be held, used, administered, liquidated, sold, or otherwise dealt
      with in the interest of and for the benefit of the United States,
      and such designated agency or person may perform any and all acts
      incident to the accomplishment or furtherance of these purposes.
      (2) In exercising the authorities granted by paragraph (1), the
    President may require 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
    paragraph (1) 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 such paragraph. In
    any case in which a report by a person could be required under this
    paragraph, the President may require the production of any books of
    account, records, contracts, letters, memoranda, or other papers,
    in the custody or control of such person.
      (3) Compliance with any regulation, instruction, or direction
    issued under this chapter shall to the extent thereof be a full
    acquittance and discharge for all purposes of the obligation of the
    person making the same. No person shall be held liable in any court
    for or with respect to anything done or omitted in good faith in
    connection with the administration of, or pursuant to and in
    reliance on, this chapter, or any regulation, instruction, or
    direction issued under this chapter.
    (b) Exceptions to grant of authority
      The authority granted to the President by this section does not
    include the authority to regulate or prohibit, directly or
    indirectly -
        (1) any postal, telegraphic, telephonic, or other personal
      communication, which does not involve a transfer of anything of
      value;
        (2) donations, by persons subject to the jurisdiction of the
      United States, of articles, such as food, clothing, and medicine,
      intended to be used to relieve human suffering, except to the
      extent that the President determines that such donations (A)
      would seriously impair his ability to deal with any national
      emergency declared under section 1701 of this title, (B) are in
      response to coercion against the proposed recipient or donor, or
      (C) would endanger Armed Forces of the United States which are
      engaged in hostilities or are in a situation where imminent
      involvement in hostilities is clearly indicated by the
      circumstances; or (!2)
        (3) the importation from any country, or the exportation to any
      country, whether commercial or otherwise, regardless of format or
      medium of transmission, of any information or informational
      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 regulation or prohibition by this paragraph
      do not include those which are otherwise controlled for export
      under section 2404 of the Appendix to this title, or under
      section 2405 of the Appendix to 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; or
        (4) any transactions ordinarily incident to travel to or from
      any country, including importation of accompanied baggage for
      personal use, maintenance within any country including payment of
      living expenses and acquisition of goods or services for personal
      use, and arrangement or facilitation of such travel including
      nonscheduled air, sea, or land voyages.
    (c) Classified information
      In any judicial review of a determination made under this
    section, if the determination was based on classified information
    (as defined in section 1(a) of the Classified Information
    Procedures Act) such information may be submitted to the reviewing
    court ex parte and in camera. This subsection does not confer or
    imply any right to judicial review.

SOURCE

    (Pub. L. 95-223, title II, Sec. 203, Dec. 28, 1977, 91 Stat. 1626;
    Pub. L. 100-418, title II, Sec. 2502(b)(1), Aug. 23, 1988, 102
    Stat. 1371; Pub. L. 103-236, title V, Sec. 525(c)(1), Apr. 30,
    1994, 108 Stat. 474; Pub. L. 107-56, title I, Sec. 106, Oct. 26,
    2001, 115 Stat. 277.)

REFERENCES IN TEXT

      Section 1(a) of the Classified Information Procedures Act,
    referred to in subsec. (c), is section 1(a) of Pub. L. 96-456, Oct.
    15, 1980, 94 Stat. 2025, which is set out in the Appendix to Title
    18, Crimes and Criminal Procedure.

AMENDMENTS

      2001 - Pub. L. 107-56, Sec. 106, which directed certain
    amendments to section 203 of the International Emergency Powers
    Act, was executed by making the amendments to this section, which
    is section 203 of the International Emergency Economic Powers Act,
    to reflect the probable intent of Congress. See below.
      Subsec. (a)(1). Pub. L. 107-56, Sec. 106(1)(C), which directed
    striking out "by any person, or with respect to any property,
    subject to the jurisdiction of the United States' without providing
    closing quotation marks designating the provisions to be struck,
    was executed by striking out "by any person, or with respect to any
    property, subject to the jurisdiction of the United States" in
    concluding provisions.
      Subsec. (a)(1)(A). Pub. L. 107-56, Sec. 106(1)(A), substituted a
    comma for "; and" at end of cl. (iii) and inserted concluding
    provisions.
      Subsec. (a)(1)(B). Pub. L. 107-56, Sec. 106(1)(B), inserted ",
    block during the pendency of an investigation" after "investigate"
    and substituted "interest by any person, or with respect to any
    property, subject to the jurisdiction of the United States; and"
    for "interest;".
      Subsec. (a)(1)(C). Pub. L. 107-56, Sec. 106(1)(D), added subpar.
    (C).
      Subsec. (c). Pub. L. 107-56, Sec. 106(2), added subsec. (c).
      1994 - Subsec. (b)(3), (4). Pub. L. 103-236 added pars. (3) and
    (4) and struck out former par. (3) which read as follows: "the
    importation from any country, or the exportation to any country,
    whether 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 2404 of the Appendix to this title or with
    respect to which no acts are prohibited by chapter 37 of title 18."
      1988 - Subsec. (b)(3). Pub. L. 100-418 added par. (3).
                     EFFECTIVE DATE OF 1994 AMENDMENT
      Section 525(c)(2) and (3) of Pub. L. 103-236 provided that:
      "(2) The amendments made by paragraph (1) to section 203(b)(3) of
    the International Emergency Economic Powers Act [50 U.S.C.
    1702(b)(3)] apply to actions taken by the President under section
    203 of such Act before the date of enactment of this Act [Apr. 30,
    1994] which are in effect on such date and to actions taken under
    such section on or after such date.
      "(3) Section 203(b)(4) of the International Emergency Economic
    Powers Act (as added by paragraph (1)) shall not apply to
    restrictions on the transactions and activities described in
    section 203(b)(4) in force on the date of enactment of this Act,
    with respect to countries embargoed under the International
    Emergency Economic Powers Act [50 U.S.C. 1701 et seq.] on the date
    of enactment of this Act."
                     EFFECTIVE DATE OF 1988 AMENDMENT
      Section 2502(b)(2) of Pub. L. 100-418 provided that: "The
    amendments made by paragraph (1) [amending this section] apply to
    actions taken by the President under section 203 of the
    International Emergency Economic Powers Act [this section] before
    the date of the enactment of this Act [Aug. 23, 1988] which are in
    effect on such date of enactment, and to actions taken under such
    section on or after such date of enactment."

EXECUTIVE ORDER

    EX. ORD. NO. 13290. CONFISCATING AND VESTING CERTAIN IRAQI PROPERTY
      Ex. Ord. No. 13290, Mar. 20, 2003, 68 F.R. 14307, as amended by
    Ex. Ord. No. 13350, Sec. 3, July 29, 2004, 69 F.R. 46055, provided:
      By the authority vested in me as President by the Constitution
    and the laws of the United States of America, including the
    International Emergency Economic Powers Act (50 U.S.C. 1701 et
    seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et
    seq.), and section 301 of title 3, United States Code, and in order
    to take additional steps with respect to the national emergency
    declared in Executive Order 13303 of March 20 [May 22], 2003
    [listed in a table under section 1701 of this title], and expanded
    in Executive Order 13315 of August 28, 2003 [listed in a table
    under section 1701 of this title],
      I, GEORGE W. BUSH, President of the United States of America,
    hereby determine that the United States and Iraq are engaged in
    armed hostilities, that it is in the interest of the United States
    to confiscate certain property of the Government of Iraq and its
    agencies, instrumentalities, or controlled entities, and that all
    right, title, and interest in any property so confiscated should
    vest in the Department of the Treasury. I intend that such vested
    property should be used to assist the Iraqi people and to assist in
    the reconstruction of Iraq, and determine that such use would be in
    the interest of and for the benefit of the United States.
      I hereby order:
      Section 1. All blocked funds held in the United States in
    accounts in the name of the Government of Iraq, the Central Bank of
    Iraq, Rafidain Bank, Rasheed Bank, or the State Organization for
    Marketing Oil are hereby confiscated and vested in the Department
    of the Treasury, except for the following:
      (a) any such funds that are subject to the Vienna Convention on
    Diplomatic Relations or the Vienna Convention on Consular
    Relations, or that enjoy equivalent privileges and immunities under
    the laws of the United States, and are or have been used for
    diplomatic or consular purposes, and
      (b) any such amounts that as of the date of this order are
    subject to post-judgment writs of execution or attachment in aid of
    execution of judgments pursuant to section 201 of the Terrorism
    Risk Insurance Act of 2002 (Public Law 107-297) [see Tables for
    classification], provided that, upon satisfaction of the judgments
    on which such writs are based, any remainder of such excepted
    amounts shall, by virtue of this order and without further action,
    be confiscated and vested.
      Sec. 2. The Secretary of the Treasury is authorized to perform,
    without further approval, ratification, or other action of the
    President, all functions of the President set forth in section
    203(a)(1)(C) of IEEPA [50 U.S.C. 1702(a)(1)(C)] with respect to any
    and all property of the Government of Iraq, including its agencies,
    instrumentalities, or controlled entities, and to take additional
    steps, including the promulgation of rules and regulations as may
    be necessary, to carry out the purposes of this order. The
    Secretary of the Treasury may redelegate such functions in
    accordance with applicable law. The Secretary of the Treasury shall
    consult the Attorney General as appropriate in the implementation
    of this order.
      Sec. 3. This order shall be transmitted to the Congress and
    published in the Federal Register.
                                                         George W. Bush.

FOOTNOTE

    (!1) So in original. The period probably should not appear.
    (!2) So in original. The word "or" probably should not appear.
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