in 31 CFR, Part 131. Persons availing themselves of certain general licenses are required to file reports in the form and in accordance with the instructions specified in the licenses.

(b) Specific licenses-(1) General course of procedure. Transactions subject to the Executive orders which are not authorized by general license may be effected only under specific license. The specific licensing activities of Foreign Funds Control are performed by the central organization, the Federal Reserve Banks of New York, Chicago, and San Francisco. Under policies and procedures prescribed by the Control, the Federal Reserve Banks take final action upon most applications filed with them. All other applications are forwarded to the central office and are initially referred to the Section within the Control dealing with the type of subject matter or transaction with which the application is concerned. (For a description of the organization of the Control see §§ 138.2 and 138.3 of this chapter). When an unusual problem is presented, the proposed action is cleared with the Chief of the Division or with the Director.

(2) Applications for specific licenses. Except as provided below, applications for specific licenses are to be filed on Form TFE-1 with the Federal Reserve Bank or other agency prescribed in the appropriate regulations, 31 CFR, 130.3. Applications for the release of securities imported into the United States and surrendered in accordance with the provisions of General Ruling No. 5 (31 CFR, 1943 Supp., Part 131, App. A) are to be filed on Form TFA-1 with the Federal Reserve Bank or other agency holding such securities as prescribed in the ruling and the regulations.

Applications for the attachment of Form TFEL-2 to securities with reference to General License No. 25 (31 CFR, Cum. Supp., 131.25) are to be filed on Form TFE-2 with the appropriate Federal Reserve Bank or other agency in accordance with the regulations.

(3) Information to be supplied. Applicants must supply all information specified by the respective forms and instructions, including, in the case of business enterprises applying for operating licenses, the information required by Form TFBE-1. They may also be required to furnish such further information as is deemed necessary to a proper

determination by the Control or any of its offices or agencies. If an applicant or other party in interest desires to present additional information or discuss or argue the application, he may do so at any time before or after decision. Arrangements for oral presentation should ordinarily be made with the agency with which the application was filed.

(4) Effect of denial. Except as provided by General Ruling No. 19 (31 CFR, Part 131, App. A) relating to property vested by the Alien Property Custodian, the denial of a license does not preclude the reopening of an application or the filing of a further application. The applicant or any other party in interest may at any time request explanation of the reasons for a denial by correspondence or personal interview.

(5) Reports under specific licenses. As a condition upon the issuance of any license, the licensee may be required to file reports with respect to the transaction covered by the license, in such form and at such times and places as may be prescribed in the license or related communication.

§ 139.2 Unblocking. The procedure to be followed by any person desiring the unblocking of accounts or other property on the ground that no person having an interest in the property is a national of a blocked country is set forth by General Ruling No. 13 (31 CFR, Cum. Supp., Part 131, App. A).

§ 139.3 Reporting. Information with respect to property in which nationals of blocked countries have an interest is required to be submitted in certain cases on Report Form TFR-300, Series L, as prescribed in Public Circular No. 4C (31 CFR and Supps., Part 131, App. B). The question of reports under licenses is treated in § 139.1.

§ 139.4 Rule making. All rules and other public documents, except public interpretations, are issued by the Secretary of the Treasury upon recommendation of the Director. Public interpretations are issued by the Director. Except when interpretative rules, general statements of policy, or rules of agency organization, practice, or procedure are involved or when notice and public procedure are impracticable, unnecessary or contrary to the public interest, interested persons will be afforded an opportunity to participate in rule making through submission of written data, views, or argument, with oral presentation in the discretion of

the Director. In addition, it is the practice

to hold, as far as possible, informal consultations with interested groups or persons before the issuance of any rule or other public document.

Any interested person may petition the Director in writing for the issuance, amendment, or repeal of any rule.

[Preceding section, in small type, superseded by following section during period covered by this Supplement]

§ 139.4 Rule making. All rules and other public documents, except public interpretations, are issued by the Secretary of the Treasury upon recommendation of the Director. Public interpretations are issued by the Director. Except

to the extent that there is involved any military, naval, or foreign affairs function of the United States or any matter relating to agency management or personnel or to public property, loans, grants, benefits, or contracts and except

when interpretative rules, general statements of policy, or rules of agency organization, practice, or procedure are involved or when notice and public procedure are impracticable, unnecessary or contrary to the public interest, interested persons will be afforded an opportunity to participate in rule making through submission of written data, views, or argument, with oral presentation in the discretion of the Director. In general, rule making by Foreign Funds Control involves foreign affairs functions of the United States. Wherever possible, however, it is the practice to hold informal consultations with interested groups or persons before the issuance of any rule or other public document.

Any interested person may petition the Director in writing for the issuance, amendment or repeal of any rule. [Reg., Nov. 15, 1946, 11 F.R. 13482]

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Page 4441

(e) Bonds and certificates of indebtedness of the Philippine Islands, issued prior to May 1, 1934, under authority of acts of Congress of the United States, all at market value, not to exceed face value.

(f) Obligations issued or guaranteed by the International Bank for Reconstruction and Development, all at face value.

CODIFICATION: In § 202.20 paragraph (c) was amended to read as set forth above and paragraphs (e) and (f) were added, by Regulation, Acting Secretary of the Treasury, Sept. 9, 1946, 11 F.R. 10112.

§ 203.7 Special depositaries must pledge collateral security before receiving deposits; acceptable securities. *

(d) Philippine Islands, Insular, and Territorial Government Securities. Bonds and certificates of indebtedness of the Philippine Islands, issued prior to May 1, 1934, under authority of acts of Congress of the United States, bonds of Puerto Rico and bonds of the Territory of Hawaii, all at market value, not to exceed face value.

(j) Obligations of the International Bank for Reconstruction and Development. Obligations issued or guaranteed by the International Bank for Reconstruction and Development, all at face value.

CODIFICATION: In § 203.7, paragraph (d) was amended to read as set forth above and paragraph (1) was added, by Regulation, Acting Secretary of the Treasury, Sept. 9, 1946, 11 F.R. 10112.

PART 208-PUBLIC MONEYS AND OFFICIAL CHECKS OF UNITED STATES DISBURSING OFFICERS [REVISED]

208.9

Disposition of checks paid by drawee.

208.10

Statement of checking account.

208.11

Deposits of public moneys.

208.12

Disbursing officer ceases to disburse.

208.13

Supply of blank checks and use of

208.14

Official signatures.

208.15

Exceptions to part.

208.16

Transactions by disbursing officers

symbol numbers.

under act approved December 23, 1944, (58 Stat. 921; 50 U.S.C. App.. Sup., 1705-1707).

Withdrawal or amendment of part.

AUTHORITY: §§ 208.0 to 208.17, inclusive, issued under R.S. 161; 5 U.S.C. 22.

SOURCE: §§ 208.0 to 208.17, inclusive, contained in 1946 Revised Department Circular 195, Acting Secretary of the Treasury, May 1, 1946, 11 F.R. 5017.

§ 208.0 Introductory. The following statutory provisions are published for the information and guidance of all concerned.

United States Code, Title 31, Section 492: Duty of disbursing officers. Except as otherwise provided by law it shall be the duty of every disbursing officer having any public money intrusted to him for disbursement, to deposit the same with the Treasurer or with one of the depositaries of the United States mentioned in section 476 of this title, and to draw for the same only as it may be required for payments to be made by him in pursuance of law and draw for the same only in favor of the persons to whom payment is made; and all transfers from the Treasurer of the United States to a disbursing officer shall be by draft or warrant on the Treasury. In places, however, where there is no treasurer or depositary, the Secretary of the Treasury may, when he deems it essential to the public interest, specially authorize in writing the deposit of such public money in any other public depositary, or, in writing, authorize the same to be kept in any other manner, and under such rules and regulations as he may deem most safe and effectual to facilitate the payments to public creditors. (R. S. Sec. 3620: Feb. 27, 1877, ch. 69, Sec. 1, 19 Stat. 249; May 29, 1920, ch. 214, Sec. 1, 41 Stat. 654, 655.)

United States Code, Title 18, Section 173: (Criminal Code, section 87.) Disbursing officers unlawfully using public money.— Whoever, being a disbursing officer of the United States, or a person acting as such, shall in any manner convert to his own use, or loan with or without interest, or deposit in any place or in any manner, except as authorized by law, any public money intrusted to him; or shall, for any purpose not prescribed by law, withdraw from the Treasurer or any authorized depositary, or transfer, or apply, any portion of the public money intrusted to him, shall be deemed guilty of an embezzlement of the money so converted, loaned, deposited, withdrawn, transferred, or applied, and shall be fined not more than the amount embezzled or imprisoned not more than ten years, or both. (Mar. 4, 1909, ch. 321, sec. 87, 35 Stat. 1105; May 29, 1920, ch. 214, sec. 1, 41 Stat. 654.)

§ 208.1 Advances of funds. All funds advanced to Government disbursing officers for disbursement will be placed to their credit, subject to their official check, with the Treasurer of the United States in Washington (checks of certain ac

counts may be designated as payable only through a specified Federal Reserve Bank), except in cases where the Secretary of the Treasury specifically authorizes depositary banks located outside the forty-eight states and the District of Columbia to accept and carry official accounts of disbursing officers or such funds as the Secretary of the Treasury specially authorizes disbursing officers to keep at their own personal risk

§ 208.2 Cash held by a disbursing officer at his personal risk. A disbursing officer may obtain cash in a specific amount to be held at his personal risk under the following conditions:

(a) Any disbursing officer granted special authority by the Secretary of the Treasury may keep a specified amount of cash at his personal risk, under the provisions of section 3620 of the Revised Statutes of the United States (31 U.S.C. 492). In the case of disbursing officers not attached to the Treasury Department, applications for such special authority shall be made by the head of the department or establishment to which the officer is attached, except as provided in paragraphs (b) and (c) of this section, and must state the reasons why the authority is necessary.

(b) Any disbursing officer of the War Department, specially authorized by the Secretary of War, who himself is stationed at a place remote from depositaries of public moneys, or who has an agent officer, duly authorized pursuant to statute, so stationed, may keep at his personal risk such money as may be intrusted to him for disbursement.

(c) Any disbursing officer of the Navy Department, or Marine Corps, specially authorized by the Secretary of the Navy. who is serving afloat or who is assigned to duty at a place remote from depositaries of public moneys, or who has an agent officer, duly authorized pursuant to statute, so stationed, may keep at his personal risk such money as may be intrusted to him for disbursement.

(d) Quarterly reports shall be made to the Secretary of the Treasury, Bureau of Accounts, Division of Bookkeeping and. Warrants, by the heads of departments or establishments to which disbursing officers authorized to keep cash at their personal risk are attached, showing their names and stations, the amounts authorized and the balances on hand. The balances reported shall include all bank bal