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NOTES:


Source

(Oct. 6, 1917, ch. 106, § 5, 40 Stat. 415; Sept. 24, 1918, ch. 176, § 5, 40 Stat. 966; Mar. 9, 1933, ch. 1, § 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, 60 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.)

Codification

Words “, including the Philippine Islands, and the several courts of first instance of the Commonwealth of the Philippine Islands shall have jurisdiction in all cases, civil or criminal, arising under this subdivision in the 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. (b)(3) were omitted upon the authority of 1946 Proc. No. 2695, which granted the Philippine Islands independence, and which was issued pursuant to section 1394 of Title 22, Foreign Relations and Intercourse. Proc. No. 2695 is set out as a note under section 1394 of Title 22.
Subsec. (b) is also classified to section 95a of Title 12, Banks and Banking.

Amendments

1994—Subsec. (b)(4). Pub. L. 103–236 amended par. (4) generally. Prior to amendment, par. (4) read as follows: “The authority granted to the President in this subsection does not include the authority to regulate or prohibit, directly or indirectly, 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 5 of the Export Administration Act of 1979 or with respect to which no acts are prohibited by chapter 37 of title 18, United States Code.”
1988—Subsec. (b)(4). Pub. L. 100–418 added par. (4).
1977—Subsec. (b)(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 time of 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 provisions preceding subpar. (A), and, in provisions following subpar. (B), struck out “; and the President may, in the manner hereinabove provided, take other and further measures not inconsistent herewith for the enforcement of this subdivision” after “control of such person”.
Subsec. (b)(3). Pub. L. 95–22, § 103(b), struck out provisions that whoever willfully violated any of the provisions of this subdivision or of any license, order, rule, or regulation issued thereunder, could be fined 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 that violation could be punished by a like fine, imprisonment, or both.
1941—Subsec. (b). Act Dec. 18, 1941, considerably broadened the powers of the President to take, administer, control, use and liquidate foreign-owned property and added a flexibility of control which enabled the President and the agencies designated by him to cope with the problems surrounding alien property, its ownership or control, on the basis of the particular facts in each case.
1940—Subsec. (b). Act May 7, 1940, included dealings in evidences of indebtedness or ownership of property in which foreign states, nationals or political subdivisions thereof have an interest.
1933—Subsec. (b). Act Mar. 9, 1933, among other things, extended President’s power to any time of war national emergency, permitted regulations to be issued by any agency designated by President, provided for furnishing under oath of complete information relative to transactions under the subsection, and placed sanctions on violations to the extent of a $10,000 fine or ten years imprisonment.
1918—Subsec. (b). Act Sept. 24, 1918, inserted provisions relating to hoarding or melting of gold or silver coin or bullion or currency and to regulation of transactions in bonds or certificates of indebtedness.

Delegation of Functions

Delegation of President’s powers under subsec. (b) of this section to Secretary of the Treasury and Alien Property Custodian; and transfer of Alien Property Custodian’s powers to Attorney General, see Ex. Ord. Nos. 9095 and 9788, set out under section 6 of this Appendix.
Powers conferred upon President by subsec. (b) of this section delegated to Secretary of the Treasury by Memorandum of President dated Feb. 12, 1942, 7 F.R. 1409.

Limitation on Exercise of Emergency Authorities

Section 525(b)(2) of Pub. L. 103–236 provided that: “The authorities conferred upon the President by section 5(b) of the Trading With the Enemy Act [subsec. (b) of this section], which were being exercised with respect to a country on July 1, 1977, as a result of a national emergency declared by the President before such date, and are being exercised on the date of the enactment of this Act [Apr. 30, 1994], do not include the authority to regulate or prohibit, directly or indirectly, any activity which, under section 5(b)(4) of the Trading With the Enemy Act, as amended by paragraph (1) of this subsection, may not be regulated or prohibited.”
Section 2502(a)(2) of Pub. L. 100–418 provided that: “The authorities conferred upon the President by section 5(b) of the Trading With the Enemy Act [subsec. (b) of this section], which were being exercised with respect to a country on July 1, 1977, as a result of a national emergency declared by the President before such date, and are being exercised on the date of the enactment of this Act [Aug. 23, 1988], do not include the authority to regulate or prohibit, directly or indirectly, any activity which, under section 5(b)(4) of the Trading With the Enemy Act, as added by paragraph (1) of this subsection, may not be regulated or prohibited.”

Extension and Termination of National Emergency Powers Under the Trading With the Enemy Act

Section 101(b), (c) of Pub. L. 95–223 provided that:
“(b) Notwithstanding the amendment made by subsection (a) [amending subsec. (b)(1) of this section], the authorities conferred upon the President by section 5(b) of the Trading With the Enemy Act [subsec. (b) of this section], which were being exercised with respect to a country on July 1, 1977, as a result of a national emergency declared by the President before such date, may continue to be exercised with respect to such country, except that, unless extended, the exercise of such authorities shall terminate (subject to the savings provisions of the second sentence of section 101(a) of the National Emergencies Act [section 1601 (a) of this title]) at the end of the two-year period beginning on the date of enactment of the National Emergencies Act [Sept. 14, 1976]. The President may extend the exercise of such authorities for one-year periods upon a determination for each such extension that the exercise of such authorities with respect to such country for another year is in the national interest of the United States.
“(c) The termination and extension provisions of subsection (b) of this section supersede the provisions of section 101 (a) [section 1601 (a) of this title] and of title II [section 1621 et seq. of this title] of the National Emergencies Act to the extent that the provisions of subsection (b) of this section are inconsistent with those provisions.”

Continuation of the Exercise of Certain Authorities Under the Trading With the Enemy Act

Determination of President of the United States, No. 2011–15, Sept. 13, 2011, 76 F.R. 57623, provided:
Memorandum for the Secretary of State [and] the Secretary of the Treasury
Under section 101(b) of Public Law 95–223 (91 Stat. 1625; 50 App. U.S.C. 5 note (b) ), and a previous determination on September 2, 2010 (75 FR 54459, September 7, 2010), the exercise of certain authorities under the Trading With the Enemy Act is scheduled to terminate on September 14, 2011.
I hereby determine that the continuation for 1 year of the exercise of those authorities with respect to Cuba is in the national interest of the United States.
Therefore, consistent with the authority vested in me by section 101(b) of Public Law 95–223, I continue for 1 year, until September 14, 2012, the exercise of those authorities with respect to Cuba, as implemented by the Cuban Assets Control Regulations, 31 C.F.R. Part 515.
The Secretary of the Treasury is authorized and directed to publish this determination in the Federal Register.
Barack Obama.
Prior extensions were contained in the following:
Determination of President of the United States, No. 2010–13, Sept. 2, 2010, 75 F.R. 54459.
Determination of President of the United States, No. 2009–27, Sept. 11, 2009, 74 F.R. 47431.
Determination of President of the United States, No. 2008–27, Sept. 12, 2008, 73 F.R. 54055.
Determination of President of the United States, No. 2007–32, Sept. 13, 2007, 72 F.R. 53409.
Determination of President of the United States, No. 2006–23, Sept. 13, 2006, 71 F.R. 54399.
Determination of President of the United States, No. 2005–35, Sept. 12, 2005, 70 F.R. 54607.
Determination of President of the United States, No. 2004–45, Sept. 10, 2004, 69 F.R. 55497.
Determination of President of the United States, No. 2003–36, Sept. 12, 2003, 68 F.R. 54325.
Determination of President of the United States, No. 02–31, Sept. 13, 2002, 67 F.R. 58681.
Determination of President of the United States, No. 2001–26, Sept. 12, 2001, 66 F.R. 47943.
Determination of President of the United States, No. 2000–29, Sept. 12, 2000, 65 F.R. 55883.
Determination of President of the United States, No. 99–36, Sept. 10, 1999, 64 F.R. 51885.
Determination of President of the United States, No. 98–35, Sept. 11, 1998, 63 F.R. 50455.
Determination of President of the United States, No. 97–32, Sept. 12, 1997, 62 F.R. 48729.
Determination of President of the United States, No. 96–43, Aug. 27, 1996, 61 F.R. 46529.
Determination of President of the United States, No. 95–41, Sept. 8, 1995, 60 F.R. 47659.
Determination of President of the United States, No. 94–46, Sept. 8, 1994, 59 F.R. 47229.
Determination of President of the United States, No. 93–38, Sept. 13, 1993, 58 F.R. 51209.
Determination of President of the United States, No. 92–45, Aug. 28, 1992, 57 F.R. 43125.
Determination of President of the United States, No. 91–52, Sept. 13, 1991, 56 F.R. 48415.
Determination of President of the United States, No. 90–38, Sept. 5, 1990, 55 F.R. 37309.
Determination of President of the United States, No. 89–25, Aug. 28, 1989, 54 F.R. 37089.
Determination of President of the United States, No. 88–22, Sept. 8, 1988, 53 F.R. 35289.
Memorandum of President of the United States, Aug. 27, 1987, 51 F.R. 33397.
Memorandum of President of the United States, Aug. 20, 1986, 51 F.R. 30201.
Memorandum of President of the United States, Sept. 5, 1985, 50 F.R. 36563.
Memorandum of President of the United States, Sept. 11, 1984, 49 F.R. 35927.
Memorandum of President of the United States, Sept. 7, 1983, 48 F.R. 40695.
Memorandum of President of the United States, Sept. 8, 1982, 47 F.R. 39797.
Memorandum of President of the United States, Sept. 10, 1981, 46 F.R. 45321.
Memorandum of President of the United States, Sept. 8, 1980, 45 F.R. 59549.
Memorandum of President of the United States, Sept. 12, 1979, 44 F.R. 53153.
Memorandum of President of the United States, Sept. 8, 1978, 43 F.R. 40449.

Proc. No. 8271. Termination of the Exercise of Authorities Under the Trading With the Enemy Act With Respect to North Korea

Proc. No. 8271, June 26, 2008, 73 F.R. 36785, provided:
I, GEORGE W. BUSH, President of the United States of America, by the authority vested in me by the Constitution and the laws of the United States, including section 101(b) of Public Law 95–223 (91 Stat. 1625; 50 App. U.S.C. 5 note (b) ), hereby find that the continuation of the exercise of authorities under the Trading With the Enemy Act (50 App. U.S.C. 1 et seq.) (TWEA) with respect to North Korea, as authorized in Proclamation 2914 of December 16, 1950, most recently continued under Presidential Determination 2007–32 of September 13, 2007 (72 FR 53407), and implemented by the regulations set forth below, is no longer in the national interest of the United States.
Section 1. The exercise of TWEA authorities with respect to North Korea, which were implemented by the Foreign Assets Control Regulations, 31 C.F.R. part 500, and the Transaction Control Regulations, 31 C.F.R. part 505, and that were continued by Presidential Determination 2007–32 of September 13, 2007, is terminated, and Presidential Determination 2007–32 is rescinded with respect to North Korea.
Sec. 2. The Secretary of the Treasury is authorized and directed to take all appropriate measures within the Secretary’s authority to give effect to this proclamation.
Sec. 3. This proclamation is not intended to, and does not, create any right, benefit, or privilege, substantive or procedural, enforceable at law or in equity, by any party against the United States, its departments, agencies, instrumentalities, or entities, its officers or employees, or any other person.
Sec. 4. This proclamation is effective at 12:01 a.m. eastern daylight time on June 27, 2008.
IN WITNESS WHEREOF, I have hereunto set my hand this twenty-sixth day of June, in the year of our Lord two thousand eight, and of the Independence of the United States of America the two hundred and thirty-second.
George W. Bush.

World War II Alien Property Custodian

Reestablishment and termination of Office of Alien Property Custodian during World War II, see notes set out under section 6 of this Appendix.

Approval of Regulations

Act Mar. 9, 1933, ch. 1, title I, § 1, 48 Stat. 1, provided that: “The actions, regulations, rules, licenses, orders and proclamations heretofore or hereafter taken, promulgated, made, or issued by the President of the United States or the Secretary of the Treasury since March 4, 1933, pursuant to the authority conferred by subdivision (b) of section 5 of the act of October 6, 1917, as amended [section 5 (b) of this Appendix], are hereby approved and confirmed.”

Executive Orders

Ex. Ord. No. 6260, as amended, respecting hoarding, export, and earmarking of gold coin, bullion, or currency and transactions in foreign exchange; Ex. Ord. No. 6560, as amended, respecting transactions in foreign exchange, transfers of credit, and export of coin and currency; Ex. Ord. No. 8389, as amended, regulating transactions in foreign exchange and foreign-owned property and providing for the reporting of all foreign-owned property; Ex. Ord. No. 9747, respecting continuance of functions of Alien Property Custodian and Treasury Department in Philippines; Ex. Ord. No. 9760, respecting diplomatic property of Germany and Japan; and Ex. Ord. No. 10348, continuing in force orders and regulations relating to blocked property, see notes set out under section 95a of Title 12, Banks and Banking, and section 6 of this Appendix.

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