(a) Except as provided by Subsection (b), a company is a scrutinized company if:
(1) the company is organized under the laws of, is headquartered in, or has its principal place of business in the territory of a country of concern;
(2) the company is controlled by a country of concern, the government of a country of concern, the ruling political party of a country of concern, or the military of a country of concern; or
(3) the majority of stock or other ownership interest of the company is held or controlled by a country of concern or individuals who are citizens of a country of concern.
(b) A scrutinized company does not include a company that:
(1) is a U.S. person, as defined by 15 C.F.R. Section 772.1; or
(2) receives not more than 50 percent of its total annual global revenue from a country of concern, regardless of whether it has one or more subsidiaries or affiliates that are companies described by Subsection (a).