(a) Except as provided in paragraphs (c) and (d) of this section, new investment, as defined in Sec. 537.311, in Burma by U.S. persons is authorized.
(b) Any U.S. person engaging in new investment in Burma pursuant to this section must report to the Department of State in compliance with the requirements set forth in the Department of State's ``Reporting Requirements on Responsible Investment in Burma,'' available at: www.HumanRights.gov/BurmaResponsibleInvestment.
(c) This section does not authorize new investment undertaken pursuant to an agreement, or pursuant to the exercise of rights under such an agreement, that is entered into with the Burmese Ministry of Defense, including the Office of Procurement; any state or non-state armed group; or any entity in which any of the foregoing own a 50 percent or greater interest.
(d) This section does not authorize transactions with, directly or indirectly, any person whose property and interests in property are blocked pursuant to Sec. 537.201(a).
Note to Sec. 537.530: The Department of State, pursuant to section 570(e) of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1997 (Pub. L. 104-208) and a delegation of authority by the President, has waived the prohibition on new investment in Burma authorized in section 570 of that act. See 77 Fed. Reg. 62596 (Oct. 15, 2012).