---
kind: "section"
citation: "31 C.F.R. § 515.502"
title: "31"
number: "515.502"
heading: "Effect of subsequent license or authorization."
url: "https://uscodex.org/cfr/31/515.502"
---

# §515.502. Effect of subsequent license or authorization.

- (a) No license or other authorization contained in this part or otherwise issued by or under the direction of the Secretary of the Treasury pursuant to section [3(a)](/cfr/31/3.md?p=a) or [5(b)](/cfr/31/5.md?p=b) of the Trading With the Enemy Act, as amended, or [section 620(a)](/cfr/31/620.md?p=a), Pub. L. 87-195, or Proclamation 3447, shall be deemed to authorize or validate any transaction effected prior to the issuance thereof, unless such license or other authorization specifically so provides.
- (b) No regulation, ruling, instruction, or license authorizes a transaction prohibited under this part unless the regulation, ruling, instruction, or license is issued by the Treasury Department and specifically refers to this part.

## Notes

### Amendments

[28 FR 6974, July 9, 1963, as amended at 80 FR 56919, Sept. 21, 2015]

### Authority

Authority: 22 U.S.C. 2370(a), 6001-6010, 7201-7211; 31 U.S.C. 321(b); 50 U.S.C. 4301-4341; Pub. L. 101-410, 104 Stat. 890 (28 U.S.C. 2461 note); 22 U.S.C. 6021-6091; Pub. L. 105-277, 112 Stat. 2681; Pub. L. 111-8, 123 Stat. 524; Pub. L. 111-117, 123 Stat. 3034; E.O. 9989, 13 FR 4891, 3 CFR, 1943-1948 Comp., p. 748; Proc. 3447, 27 FR 1085, 3 CFR, 1959-1963 Comp., p. 157; E.O. 12854, 58 FR 36587, 3 CFR, 1993 Comp., p. 614.

### Source

Source: 28 FR 6974, July 9, 1963, unless otherwise noted.

### Amendments

[28 FR 6974, July 9, 1963, as amended at 80 FR 56919, Sept. 21, 2015]