US CODE
TITLE 12 > CHAPTER 2 > SUBCHAPTER IV > § 95aPrev | Next
§ 95a. Regulation of transactions in foreign exchange of gold and silver; property transfers; vested interests, enforcement and penalties
How Current is This?
(1) During the time of war, the President may, through any agency that he may designate, and under such rules and regulations as he may prescribe, by
means of instructions, licenses, or otherwise—
(A) investigate, regulate, or prohibit, any transactions in foreign exchange, transfers of credit or payments between, by, through, or to any banking
institution, and the importing, exporting, hoarding, melting, or earmarking of gold or silver coin or bullion, currency or securities, and
(B) investigate, regulate, direct and compel, nullify, void, prevent or prohibit, any acquisition holding, withholding, use, transfer, withdrawal,
transportation, importation or exportation of, or dealing in, or exercising any right, power, or privilege with respect to, or transactions involving,
any property in which any foreign country or a national thereof has any interest,
by any person, or with respect to any property, subject to the jurisdiction of the United States; and any property or interest of any foreign country
or national thereof shall vest, when, as, and upon the terms, directed by the President, in such agency or person as may be designated from time to
time by the President, and upon such terms and conditions as the President may prescribe such interest or property shall be held, used, administered,
liquidated, sold, or otherwise dealt with in the interest of and for the benefit of the United States, and such designated agency or person may
perform any and all acts incident to the accomplishment or furtherance of these purposes; and the President shall, in the manner hereinabove provided,
require any person to keep a full record of, and to furnish under oath, in the form of reports or otherwise, complete information relative to any act
or transaction referred to in this subdivision either before, during, or after the completion thereof, or relative to any interest in foreign
property, or relative to any property in which any foreign country or any national thereof has or has had any interest, or as may be otherwise
necessary to enforce the provisions of this subdivision, and in any case in which a report could be required, the President may, in the manner
hereinabove provided, require the production, or if necessary to the national security or defense, the seizure, of any books of account, records,
contracts, letters, memoranda, or other papers, in the custody or control of such person.
(2) Any payment, conveyance, transfer, assignment, or delivery of property or interest therein, made to or for the account of the United States, or as
otherwise directed, pursuant to this section or any rule, regulation, instruction, or direction issued hereunder shall to the extent thereof be a full
acquittance and discharge for all purposes of the obligation of the person making the same; and no person shall be held liable in any court for or in
respect to anything done or omitted in good faith in connection with the administration of, or in pursuance of and in reliance on, this section, or
any rule, regulation, instruction, or direction issued hereunder.
TRADING WITH THE ENEMY ACT