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There are currently no known outstanding effects for the The Democratic People's Republic of Korea (European Union Financial Sanctions) Regulations 2013, Section 7A.
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7A.—(1) The Treasury may direct that the provisions of regulations 4 to 7 apply in relation to a person as if that person were a designated person.
(2) The Treasury may only make a direction under paragraph (1)—
(a)in respect of a person within a category listed in paragraph (3); and
(b)when the conditions in paragraph (4) are satisfied.
(3) Categories of persons in respect of whom a direction may be made are—
(a)a person associated with the Government of the Democratic People’s Republic of Korea;
(b)a person associated with the Worker’s Party of Korea;
(c)a person acting on behalf or at the direction of any person within the categories listed in sub-paragraph (a) or (b); or
(d)a person owned or controlled by any person listed within the categories in sub-paragraph (a) or (b).
(4) The conditions in this paragraph are satisfied if—
(a)funds and economic resources have been or are likely to be made available to a person for a purpose other than that of a diplomatic or consular mission, including a mission to the United Nations; and
(b)the Treasury consider that the person is associated with nuclear-related, other weapons of mass destructions-related, or ballistic missile-related programmes, or other activities prohibited by the Council Regulation.
(5) A credit or financial institution must inform the Treasury if it suspects that funds or economic resources have been or are likely to be made available to any person listed in a category in paragraph (3) for a purpose other than that of a diplomatic or consular mission.
(6) Any direction made under paragraph (1) must be—
(a)published by the Treasury on their website;
(b)sent by the Treasury to one or more credit and financial institutions; or
(c)sent by the Treasury to one or more other persons.]
Textual Amendments
F1Reg. 7A inserted (13.5.2016) by The Democratic Peoples Republic of Korea (European Union Financial Sanctions) (Amendment) Regulations 2016 (S.I. 2016/578), regs. 1(1), 3
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