12 2 STA T . 2 637PUBLIC LA W 11 0– 2 8 6 —J UL Y 2 9, 2008 (1)INGE NE RAL.—TheS e cr e ta r yof the Trea su ry ,in con - su l tation w ith the Secretary of State, the A ttorney G eneral of the U nite d States, and the C hair m an of the B oard of Go v - ernors of the F ederal R eserve System, may p rohi b it or impose conditions on the openin g or maintaining in the United States of a correspondent account or payable-through account by any financial institution (as that term is defined in section 53 1 2 of title 31, United States Code) or financial agency that is organi z ed under the laws of a State, territory, or possession of the United States, for or on behalf of a foreign ban k ing institution, if the Secretary determines that the account might be used— (A) by a foreign banking institution that holds property or an interest in property belonging to the S PD Cora person described in subsection (a)(1)
or (B) to conduct a transaction on behalf of the SPDC or a person described in subsection (a)(1). (2) A UTHO R I T Y TO D E F INE TER MS .—The Secretary of the Treasury may, by regulation, further define the terms used in paragraph (1) for purposes of this section, as the Secretary considers appropriate. (d) L IST OF SAN C TIONED O FFICIALS.— (1) IN GENERAL.— N ot later than 12 0 days after the date of the enactment of this Act, the President shall transmit to the appropriate congressional committees a list of— (A) former and present leaders of the SPDC, the Bur- mese military, and the USDA; (B) officials of the SPDC, the Burmese military, or the USDA involved in the repression of peaceful political activity in Burma or in the commission of other human rights abuses, including any current or former officials of the security services and j udicial institutions of the SPDC; (C) any other Burmese persons or entities who provide substantial economic and political support for the SPDC, the Burmese military, or the USDA; and (D) the immediate family members of any person described in subparagraphs (A) through (C) whom the President determines effectively controls property in the United States or has benefitted from a financial transaction with any United States person. (2) CONSIDERATION OF OTHER DATA.—In preparing the list re q uired under paragraph (1), the President shall consider the data already obtained by other countries and entities that apply sanctions against Burma, such as the Australian Govern- ment and the E uropean Union. (3) U P DATES.—The President shall transmit to the appro- priate congressional committees updated lists of the persons described in paragraph (1) as new information becomes avail- able. ( 4 ) IDENTIFICATION OF INFORMATION.—The Secretary of State and the Secretary of the Treasury shall devote sufficient resources to the identification of information concerning poten- tial persons to be sanctioned to carry out the purposes described in this Act. Presid e nt.D e a d l ine. President.
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