Code of Federal Regulations · Section

§ 594.403 — Setoffs Prohibited

31 C.F.R. § 594.403

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A setoff against blocked property (including a blocked account), whether by a U.S. bank or other U.S. person, is a prohibited transfer under §§ 594.201 and 594.204 if effected after the effective date.

31 C.F.R. § 594.402 31 C.F.R. § 594.404

Authorizing Statute

Unusual and extraordinary threat; declaration of national emergency; exercise of Presidential authorities
50 U.S.C. § 1701
General authority of the Secretary
31 U.S.C. § 321
Economic and communication sanctions pursuant to United Nations Security Council Resolution
22 U.S.C. § 287c
Mode of recovery
28 U.S.C. § 2461
General authorization to delegate functions; publication of delegations
3 U.S.C. § 301