---
kind: "section"
citation: "31 C.F.R. § 535.902"
title: "31"
number: "535.902"
heading: "Set-offs by U.S. owned or controlled firms abroad."
url: "https://uscodex.org/cfr/31/535.902"
---

# §535.902. Set-offs by U.S. owned or controlled firms abroad.

- (a) Branches and subsidiaries in foreign countries of persons subject to the jurisdiction of the United States are licensed to set-off their claims against Iran or Iranian entities by debit to blocked accounts held by them for Iran or Iranian entities.
- (b) **The general license in paragraph (a) of this section is revoked as of January 19, 1981.**
- (c) **For purposes of this section, set-offs include combinations of accounts and any similar actions.**

## Notes

### Amendments

[46 FR 14337, Feb. 26, 1981]

### Authority

Authority: 3 U.S.C. 301; 18 U.S.C. 2332d; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); E.O. 12170, 44 FR 65729, 3 CFR, 1979 Comp., p. 457; E.O. 12205, 45 FR 24099, 3 CFR, 1980 Comp., p. 248; E.O. 12211, 45 FR 26685, 3 CFR, 1980 Comp., p. 253; E.O. 12276, 46 FR 7913, 3 CFR, 1981 Comp., p. 104; E.O. 12279, 46 FR 7919, 3 CFR, 1981 Comp., p. 109; E.O. 12280, 46 FR 7921, 3 CFR, 1981 Comp., p. 110; E.O. 12281, 46 FR 7923, 3 CFR, 1981 Comp., p. 112; E.O. 12282, 46 FR 7925, 3 CFR, 1981 Comp., p. 113; E.O. 12283, 46 FR 7927, 3 CFR, 1981 Comp., p. 114; E.O. 12294, 46 FR 14111, 3 CFR, 1981 Comp., p. 139.

### Source

Source: 44 FR 65956, Nov. 15, 1979, unless otherwise noted.

### Amendments

[46 FR 14337, Feb. 26, 1981]