Statutory Instruments
2016 No. 1214
Criminal Law
The Democratic People’s Republic of Korea (European Union Financial Sanctions) (Amendment) (No. 3) Regulations 2016
Made
13th December 2016
Laid before Parliament
15th December 2016
Coming into force
5th January 2017
The Treasury are designated( 1 ) for the purposes of section 2(2) of the European Communities Act 1972( 2 ) in relation to restrictive measures against persons or bodies listed by an international organisation.
The Treasury, in exercise of the powers conferred by section 2(2) of the European Communities Act 1972, make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Democratic People’s Republic of Korea (European Union Financial Sanctions) (Amendment) (No. 3) Regulations 2016 and come into force on 5th January 2017.
Amendment of the Democratic People’s Republic of Korea (European Union Financial Sanctions) Regulations 2013
2.The Democratic People’s Republic of Korea (European Union Financial Sanctions) Regulations 2013( 3 ) are amended as follows—
(a) in regulation 9(1) (licences), for “10(3)” substitute “10(1)(b) to (d)”;
(b) in regulation 13(4)(c) (sale or purchase of bonds), for “a credit or financial institution domiciled in the Democratic People’s Republic of Korea or any credit or financial institution” substitute “a person”;
(c) in regulation 13A (DPRK credit and financial institutions: branches, subsidiaries, and representative offices), after “open” insert “, operate or facilitate the operation of”;
(d) in regulation 13D (financial support for trade)—
(i) in paragraph (1), after “trade” insert “with the Democratic People’s Republic of Korea”; and
(ii) in paragraph (3)(a), for “[date]” substitute “29th May 2016”.
David Evennett
Stephen Barclay
Two of the Lords Commissioners of Her Majesty’s Treasury
13th December 2016
1972 c.68 . Section 2(2) was amended by the Legislative and Regulatory Reform Act 2006 (c.51) , section 27(1)(a) and the European Union (Amendment) Act 2008 (c.7) , Schedule, Part 1.
S.I. 2013/1877 , as amended by S.I. 2016/578 and S.I. 2016/634 .