Page:United States Statutes at Large Volume 108 Part 1.djvu/539

 PUBLIC LAW 103-236—APR. 30, 1994 108 STAT. 513 (d) SANCTIONS.—The following sanctions shall be imposed pursuant to any order issued under subsection (c) with respect to any United States person or any foreign person: (1) BAN ON DEALINGS IN GOVERNMENT FINANCE.— (A) DESIGNATION AS PRIMARY DEALER. —Neither the Board of Governors of the Federal Reserve System nor the Federal Reserve Bank of New York may designate, or permit the continuation of any prior designation of, the person as a primary dealer in United States Government debt instruments. (B) SERVICE AS DEPOSITARY.— The person may not serve as a depositary for United States Government funds. (2) RESTRICTIONS ON OPERATIONS. —The person may not, directly or indirectly— (A) commence any line of business in the United States in which the person was not engaged as of the date of the order; or (B) conduct business from any location in the United States at which the person did not conduct business as of the date of the order. (e) JUDICIAL REVIEW. — Any determination of the President under subsection (c) shall be subject to iudicisd review in accordance with chapter 7 of part I of title 5, United States Code. (f) CONSULTATION WITH AND ACTIONS BY FOREIGN GOVERNMENT OF JURISDICTION. — (1) CONSULTATIONS.—If the President makes a determination under subsection (c) with respect to a foreign person, the Congress urges the President to initiate consultations immediately with any appropriate foreign government with respect to the imposition of any sanction pursuant to this section. ^^ (2) ACTIONS BY GOVERNMENT OF JURISDICTION.— (A) SUSPENSION OF PERIOD FOR IMPOSING SANCTIONS. — In order to pursue consultations described in paragraph (1) with any government referred to in such paragraph, the President may delay, for up to 90 days, the effective date of an order under subsection (c) imposing any sanction. (B) COORDINATION WITH ACTIVITIES OF FOREIGN GOVERNMENT.— Following consultations described in paragraph (1), the order issued by the President under subsection (c) imposing any sanction on a foreign person shall take effect unless the President determines, and certifies in writing to the Congress, that the government referred to in paragraph (1) has taken specific and effective actions, including the imposition of appropriate penalties, to terminate the involvement of the foreign person in any prohibited activity. (C) EXTENSION OF PERIOD.— After the end of the period described in subparagraph (A), the President may delay, for up to an additional 90 days, the effective date of an order issued under subsection (b) imposing any sanction on a foreign person if the President determines, and certifies in writing to the Congress, that the appropriate foreign government is in the process of taking actions described in subparagraph (B). (3) REPORT TO CONGRESS.—Before the end of the 90-day period beginning on the date on which an order is issued

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