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The Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019

Status:

This is the original version (as it was originally made).

Dealing with UN-designated ships subject to asset-freeze

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70.—(1) A person must not deal with a UN-designated ship subject to an asset-freeze if the person knows, or has reasonable cause to suspect, that the person is dealing with such a ship.

(2) Paragraph (1) is subject to Part 9 (Exceptions and licences).

(3) A person who contravenes the prohibition in paragraph (1) commits an offence.

(4) For the purposes of paragraph (1) a person “deals” with a ship if the person is a party to any arrangement the object or effect of which is—

(a)the sale, leasing or exchange of the ship or any interest in the ship, or

(b)the use of the ship, or any interest in the ship, in exchange for funds, goods or services (whether by the pledge of the ship, or any interest in the ship, as security or otherwise).

(5) In this regulation a “UN-designated ship subject to an asset-freeze” means a ship designated by the Security Council or the Committee for the purposes of the provisions listed in paragraph (6) as a ship in respect of which the measures required by paragraph 8(d) of resolution 1718 (asset-freeze etc.) are to be taken.

(6) The provisions referred to in paragraph (5) are—

(a)paragraph 12(d) of resolution 2321;

(b)paragraph 8 of resolution 2375.

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