ktabs 8 3#quicktabs-812 USC § 95a - Regulation of transactions in foreign exchange of gold and silver; propertytransfers; vested interests, enforcement and penalties(1) During the time of war, the President may, through any agency that he may designate, and undersuch rules and regulations as he may prescribe, by means of instructions, licenses, or otherwise—(A) investigate, regulate, or prohibit, any transactions in foreign exchange, transfers of credit orpayments between, by, through, or to any banking institution, and the importing, exporting, hoarding,melting, or earmarking of gold or silver coin or bullion, currency or securities, and(B) investigate, regulate, direct and compel, nullify, void, prevent or prohibit, any acquisition holding,withholding, use, transfer, withdrawal, transportation, importation or exportation of, or dealing in, orexercising any right, power, or privilege with respect to, or transactions involving, any property in whichany 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 anyproperty or interest of any foreign country or national thereof shall vest, when, as, and upon the terms,directed by the President, in such agency or person as may be designated from time to time by thePresident, and upon such terms and conditions as the President may prescribe such interest or propertyshall be held, used, administered, liquidated, sold, or otherwise dealt with in the interest of and for thebenefit of the United States, and such designated agency or person may perform any and all actsincident to the accomplishment or furtherance of these purposes; and the President shall, in the mannerhereinabove provided, require any person to keep a full record of, and to furnish under oath, in the formof reports or otherwise, complete information relative to any act or transaction referred to in thissubdivision either before, during, or after the completion thereof, or relative to any interest in foreignproperty, or relative to any property in which any foreign country or any national thereof has or has hadany interest, or as may be otherwise necessary to enforce the provisions of this subdivision, and in anycase in which a report could be required, the President may, in the manner hereinabove provided,require the production, or if necessary to the national security or defense, the seizure, of any books ofaccount, records, contracts, letters, memoranda, or other papers, in the custody or control of suchperson.(2) Any payment, conveyance, transfer, assignment, or delivery of property or interest therein, made toor for the account of the United States, or as otherwise directed, pursuant to this section or any rule,regulation, instruction, or direction issued hereunder shall to the extent thereof be a full acquittanceand discharge for all purposes of the obligation of the person making the same; and no person shall beheld liable in any court for or in respect to anything done or omitted in good faith in connection with theadministration of, or in pursuance of and in reliance on, this section, or any rule, regulation, instruction,or direction issued hereunder.(3) As used in this subdivision the term “United States” means the United States and any place subjectto the jurisdiction thereof; Provided, however, That the foregoing shall not be construed as a limitationupon the power of the President, which is hereby conferred, to prescribe from time to time, definitions,not inconsistent with the purposes of this subdivision, for any or all of the terms used in this subdivision.As used in this subdivision the term “person” means an individual, partnership, association, orcorporation.
(4) The authority granted to the President by this section does not include the authority to regulate orprohibit, directly or indirectly, the importation from any country, or the exportation to any country,whether commercial or otherwise, regardless of format or medium of transmission, of any informationor 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 areotherwise controlled for export under section 2404 of title 50, Appendix, or under section 2405 of title50, Appendix to the extent that such controls promote the nonproliferation or antiterrorism policies ofthe United States, or with respect to which acts are prohibited by chapter 37 of title 18. NOTESSource(Oct. 6, 1917, ch. 106, § 5(b),40 Stat. 415; Sept. 24, 1918, ch. 176, § 5,40 Stat. 966; Mar. 9, 1933, ch. 1,title I, § 2,48 Stat. 1; May 7, 1940, ch. 185, § 1,54 Stat. 179; Dec. 18, 1941, ch. 593, title III, § 301,55 Stat.839; Proc. No. 2695, eff. July 4, 1946, 11 F.R. 7517, 69 Stat. 1352; Pub. L. 95–223, title I, §§ 101(a), 102,103 (b),Dec. 28, 1977, 91 Stat. 1625, 1626; Pub. L. 100–418, title II, § 2502(a)(1),Aug. 23, 1988, 102 Stat.1371; Pub. L. 103–236, title V, § 525(b)(1),Apr. 30, 1994, 108 Stat. 474.)CodificationSection 5(b) of act Oct. 6, 1917, is part of the Trading with the Enemy Act and is also classified to section5(b) of the Appendix to Title 50, War and National Defense.Words “, including the Philippine Islands, and the several courts of first instance of the Commonwealthof the Philippine Islands shall have jurisdiction in all cases, civil or criminal, arising under this section inthe Philippine Islands and concurrent jurisdiction with the district courts of the United States of all cases,civil or criminal, arising upon the high seas” following “to the jurisdiction thereof:” in subsec. (3) wereomitted on authority of 1946 Proc. No. 2695, which granted the Philippine Islands independence, andwhich was issued pursuant to section 1394 of Title 22, Foreign Relations and Intercourse. Proc. No. 2695is set out as a note under section 1394 of Title 22.Amendments1994—Par. (4). Pub. L. 103–236amended par. (4) generally. Prior to amendment, par. (4) read asfollows: “The authority granted to the President in this section does not include the authority toregulate or prohibit, directly or indirectly, the importation from any country, or the exportation to anycountry, whether commercial or otherwise, of publications, films, posters, phonograph records,photographs, microfilms, microfiche, tapes, or other informational materials, which are not otherwisecontrolled for export under section 2404 of title 50, Appendix, or with respect to which no acts areprohibited by chapter 37 of title 18.”1988—Par. (4). Pub. L. 100–418added par. (4).1977—Par. (1). Pub. L. 95–223, §§ 101(a), 102, substituted “During the time of war, the President may,through any agency that he may designate, and under such rules and regulations” for “During the timeof war or during any other period of national emergency declared by the President, the President may,through any agency, that he may designate, or otherwise, and under such rules and regulations” in theprovisions preceding subpar. (A), and, in the provisions following subpar. (B), struck out “; and thePresident may, in the manner hereinabove provided, take other and further measures not inconsistentherewith for the enforcement of the subdivision” after “control of such person”.
Par. (3). Pub. L. 95–223, § 103(b), struck out provisions that whoever willfully violated any of theprovisions of this subdivision or of any license, order, rule, or regulation issued thereunder, could befined not more than 10,000, or, if a natural person, could be imprisoned for not more than ten years,or both; and that any officer, director, or agent of any corporation who knowingly participated in thatviolation could be punished by a like fine, imprisonment, or both.1941—Act Dec. 18, 1941, broadened the powers of the President to take, administer, control, use andliquidate foreign-owned property and added a flexibility of control which enabled the President and theagencies designated by him to cope with the problems surrounding alien property, its ownership orcontrol, on the basis of the particular facts in each case.1940—Act May 7, 1940, included dealings in evidences of indebtedness or ownership of property inwhich foreign states, nationals or political subdivisions thereof have an interest.1933—Act Mar. 9, 1933, amended section generally by, among other things, extending the President’spower to any time of war or national emergency, by permitting regulations to be issued by any agencydesignated by the President, by providing for the furnishing under oath of complete information relativeto transactions under this section and by placing sanctions on violations to the extent of a 10,000 fineor ten years imprisonment.1918—Act Sept. 24, 1918, inserted provisions relating to the hoarding or melting of gold or silver coin orbullion or currency and to the regulation of transactions in bonds or certificates of indebtedness.Delegation of PowersDelegation of President’s powers under this section to Secretary of the Treasury and Alien PropertyCustodian; and transfer of Alien Property Custodian’s powers to Attorney General, see Ex. Ord. Nos.9095 and 9788, set out as notes under section 6 of the Appendix to Title 50, War and National Defense.All powers conferred upon President by this section delegated to Secretary of the Treasury byMemorandum of the President dated Feb. 12, 1942, 7 F.R. 1409.Administration of Export Administration ActFor provisions relating to the administration of the Export Administration Act, see Executive Orders setout as notes under section 2403 of Title 50, Appendix, War and National Defense.Limitation on Exercise of Emergency AuthoritiesSection 525(b)(2) ofPub. L. 103–236provided that: “The authorities conferred upon the President bysection 5(b) of the Trading With the Enemy Act [this section], which were being exercised with respectto a country on July 1, 1977, as a result of a national emergency declared by the President before suchdate, and are being exercised on the date of the enactment of this Act [Apr. 30, 1994], do not includethe authority to regulate or prohibit, directly or indirectly, any activity which, under section 5(b)(4) ofthe Trading With the Enemy Act, as amended by paragraph (1) of this subsection, may not be regulatedor prohibited.”Section 2502(a)(2) ofPub. L. 100–418provided that: “The authorities conferred upon the President bysection 5(b) of the Trading With the Enemy Act [this section], which were being exercised with respectto a country on July 1, 1977, as a result of a national emergency declared by the President before suchdate, and are being exercised on the date of the enactment of this Act [Aug. 23, 1988], do not includethe authority to regulate or prohibit, directly or indirectly, any activity which, under section 5(b)(4) ofthe Trading With the Enemy Act, as added by paragraph (1) of this subsection, may not be regulated orprohibited.”Extension and Termination of National Emergency Powers Under the Trading With the Enemy ActSection 101(b), (c) ofPub. L. 95–223provided that:
“(b) Notwithstanding the amendment made by subsection (a) [amending par. (1) of this section], theauthorities conferred upon the President by section 5(b) of the Trading With the Enemy Act [thissection], which were being exercised with respect to a country on July 1, 1977, as a result of a nationalemergency declared by the President before such date, may continue to be exercised with respect tosuch country, except that, unless extended, the exercise of such authorities shall terminate (subject tothe savings provisions of the second sentence of section 101(a) of the National Emergencies Act [section1601 (a) of Title 50, War and National Defense]) at the end of the two-year period beginning on the dateof enactment of the National Emergencies Act [Sept 14, 1976]. The President may extend the exercise ofsuch authorities for one-year periods upon a determination for each such extension that the exercise ofsuch authorities with respect to such country for another year is in the national interest of the UnitedStates.“(c) The termination and extension provisions of subsection (b) of this section supersede the provisionsof section 101 (a) [section 1601 (a) of Title 50, War and National Defense] and of title II [section 1621 etseq. of Title 50] of the National Emergencies Act to the extent that the provisions of subsection (b) ofthis section are inconsistent with those provisions.”Removal of Limitations and Restraints in Financing ExportsPub. L. 92–126, § 2,Aug. 17, 1971, 85 Stat. 346, provided that: “In connection with section 2 of ExecutiveOrder Number 11387, dated January 1, 1968 [formerly set out below] and any rule, regulation, orguideline established by the Board of Governors of the Federal Reserve System in connection with avoluntary foreign credit restraint program, there shall be no limitation or restraint, or suggestion thatthere be a limitation or restraint, on the part of any bank or financial institution in connection with theextension of credit for the purpose of financing exports of the United States.”World War II Alien Property CustodianReestablishment and termination of Office of Alien Property Custodian during World War II, see notesunder section 6 of the Appendix to Title 50, War and National Defense.Diplomatic Property of Germany and JapanEx. Ord. No. 9760, July 24, 1946, 11 F.R. 7999, set out in notes to section 6 of Title 50, Appendix, Warand National Defense, supersedes conflicting provisions of Ex. Ord. No. 8389, set out below.Executive Order No. 6260Ex. Ord. No. 6260, Aug. 28, 1933, as amended by Ex. Ord. No. 6359, Oct. 25, 1933; Ex. Ord. No. 6556,Jan. 12, 1934; Ex. Ord. No. 6560, Jan. 15, 1934; Ex. Ord. No. 10896, Nov. 29