GL-6
ExpiredAuthorizing the Wind Down of Transactions Involving Shwe Byain Phyu Group of Companies
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Summary
General License 6 authorizes transactions otherwise prohibited by the Burma Sanctions Regulations (31 CFR Part 525) that are ordinarily incident and necessary to the wind down of any transaction involving Shwe Byain Phyu Group of Companies (SBPG) or any entity in which SBPG owns, directly or indirectly, a 50 percent or greater interest. The authorization is time-limited and requires that any payment to a blocked person be made into a blocked account in accordance with the BuSR. It does not authorize transactions involving any other blocked persons beyond those specified.
Authorized activities
- Wind down of transactions involving Shwe Byain Phyu Group of Companies (SBPG)
- Wind down of transactions involving any entity in which SBPG owns, directly or indirectly, a 50 percent or greater interest
Conditions
Any payment to a blocked person must be made into a blocked account in accordance with the Burma Sanctions Regulations. The license does not authorize transactions involving any person blocked pursuant to the BuSR other than SBPG or entities in which SBPG owns 50 percent or greater interest, unless separately authorized.