GL-6
ExpiredAuthorizing the Wind Down of Transactions Involving Shwe Byain Phyu Group of Companies
Machine-extracted. The summary, conditions, and reporting fields on this page were extracted by AI from the official document. Rely on the official OFAC General License, not this page.
Summary
GL 6 authorizes all transactions 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, that would otherwise be prohibited by the Burma Sanctions Regulations. 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. The license does not authorize transactions involving 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
Authorization runs only through 12:01 a.m. eastern standard time, March 1, 2024. Any payment to a blocked person must be made into a blocked account in accordance with the BuSR. The license does not authorize transactions involving any person blocked pursuant to the BuSR other than SBPG and entities in which SBPG owns 50 percent or greater interest, unless separately authorized.