The Democratic People’s Republic of Korea (Sanctions) (Overseas Territories) (Amendment) Order 2016

Amendment of the principal Order

4.  In article 3(1)—

(a) in the appropriate places, insert—

““aviation fuel” means items listed in Annex Ie to the Council Regulation;”,

““coal, iron and iron ore” means items listed in Annex Id to the Council Regulation;”,

““gold and ores” means items listed in Annex Ic to the Council Regulation;”, and

““relevant person”—

(a)

in relation to a ship, aircraft or vehicle falling within article 7(7)(a) or (b) means—

(i)

the owner, charterer or master of the ship,

(ii)

the owner, charterer, operator or commander of the aircraft, or

(iii)

the owner, driver or operator of the vehicle;

(b)

in relation to a ship or aircraft falling within article 7(7)(c) means—

(i)

the charterer of the ship or aircraft, or

(ii)

the master of the ship, or operator of the aircraft;”;

(b) for the entry relating to “designated person”, substitute—

““designated person” means any person listed in Annex IV, V or Va to the Council Regulation and any person subject to a direction made by the Treasury under regulation 7A of the Democratic People’s Republic of Korea (European Union Financial Sanctions) Regulations 2013(1);”;

(c) for the entry relating to “economic resources”, substitute—

““economic resources” means assets of every kind, whether tangible or intangible, movable or immovable, actual or potential which are not funds but can be used to obtain funds, goods or services, including vessels, such as maritime vessels;”;

(d) in the entry relating to “insurance”, omit “natural or legal”; and

(e) omit the entry relating to “person”.

(1)

S.I. 2013/1877. Regulation 7A was inserted by S.I. 2016/578.