Branches and operating divisions of a listed entity are, by definition, part of the listed entity. They are not legally distinct entities. Therefore, with one exception pertaining to hospitals and medical centers of the Department of Atomic Energy entities in India (see FAQ #39), the licensing and other obligations imposed on a listed entity also apply to its branches and operating divisions. Do the license requirements and policies in the Entity List also apply to the parent company if a subsidiary is a listed entity? The Entity List license requirements do not extend to parent companies unless the applicable listing for the company so states. Exporters, reexporters, and transferors are reminded that the EAR imposes licensing requirements, such as end-user and end-use based restrictions in Part 744 of the EAR, that could apply to such companies even if they are legally separate from the listed entity.