The North Korea (United Nations Measures) (Overseas Territories) Order 2006

Interpretation

2.—(1) In this Order—

“aircraft” means a fixed wing, swivel wing, rotary wing, tilt rotor or tilt wing airborne vehicle or helicopter;

“assistance” means any form of assistance including technical assistance, services, financing and financial assistance;

“commander”, in relation to an “aircraft”, means the member of the flight crew designated as commander of the “aircraft” by the operator thereof, or, failing such a person, the person who is for the time being the pilot in command of the “aircraft”;

“designated person” means any person or entity for the time being designated by the Committee or the Security Council pursuant to subparagraph 8(d) of the Security Council Resolution;

“document” includes information recorded in any form and, in relation to information recorded otherwise than in legible form, references to its production include references to producing a copy of the information in legible form;

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

“export” includes “shipment” as “stores”;

“exportation” in relation to any “ship”, submersible vehicle or “aircraft”, includes the taking out of the Territory of the “ship”, submersible vehicle or “aircraft” notwithstanding that it is conveying goods or passengers and whether or not it is moving under its own power; and cognate expressions shall be construed accordingly;

“funds” means financial assets and benefits of every kind, including (but not limited to)—

(a)

cash, cheques, claims on money, drafts, money orders and other payment instruments;

(b)

deposits with relevant institutions or other persons, balances on accounts, debts and debt obligations;

(c)

publicly and privately traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivative products;

(d)

interest, dividends or other income on or value accruing from or generated by assets;

(e)

credit, right of set-off, guarantees, performance bonds or other financial commitments;

(f)

letters of credit, bills of lading, bills of sale;

(g)

documents providing evidence of an interest in funds or financial resources; and

(h)

any other instrument of export financing;

“Governor” means the Governor or other officer administering the Government of the Territory;

“prohibited luxury goods” means the goods listed in Schedule 4 as amended from time to time;

“master”, in relation to a “ship”, includes any person (other than a pilot) for the time being in charge of the “ship”;

“North Korea” means the Democratic People’s Republic of Korea;

“officer”, in relation to a body corporate, means a director, manager, secretary or other similar officer of the body corporate or any person who has purported to act in any such capacity;

“operator”, in relation to an “aircraft” or “vehicle”, means the person for the time being having the management of the “aircraft” or “vehicle”;

“owner”, in relation to a “ship”, where the owner is not the “operator”, means the “operator” and any person to whom it is chartered;

“procurement” means procurement by any person or body to whom this Order applies by whatever means, including but not limited to by purchase, import or transport, and including by using any ship, aircraft or vehicle to which article 7 of this Order applies;

“relevant institution” means—

(i)

the person or body responsible for carrying out in the Territory the functions of a monetary authority;

(j)

any person who may lawfully accept deposits in or from within the Territory by way of business;

(k)

any society established lawfully in the Territory whose principal purpose is the making of loans secured on residential property where such loans are funded substantially by its members;

“restricted goods” means the goods specified in Part I of Schedule 1 to the Export of Goods, Transfer of Technology and Provision of Technical Assistance (Control) Order 2003(1) made under the Export Control Act 2002(2), as extended to the territories listed in Schedule 1 thereto by the Export of Goods, Transfer of Technology and Provision of Technical Assistance (Control) (Overseas Territories) Order 2004(3) and all items, materials, equipment, goods and technology, including software, which are dual-use items as defined in Council Regulation (EC) No 1334/2000(4) and which could contribute to North Korea’s nuclear-related, ballistic missile-related or other weapons of mass destruction-related programmes, as determined by the Committee or the Security Council pursuant to subparagraph 8(a) of the Security Council Resolution;

“the Security Council Resolution” means resolution 1718(2006) adopted by the Security Council of the United Nations on 14th October 2006;

“Supreme Court” means the court of the Territory having unlimited jurisdiction in civil proceedings.

(2) For the purpose of the definition of “relevant institution” in paragraph (1)—

(a) the activity of accepting deposits has the meaning given in any relevant order made under section 22 of the Financial Services and Markets Act 2000(5); and

(b) a person is not regarded as accepting deposits by way of business if—

(i) he does not hold himself out as accepting deposits on a day to day basis, and

(ii) any deposits which he accepts are accepted only on particular occasions, whether or not involving the issue of any securities.

(3) In determining for the purposes of paragraph (2)(b)(ii) whether deposits are accepted only on particular occasions, regard is to be had to the frequency of those occasions and to any characteristics distinguishing them from each other.

(1)

S.I. 2003/2764 as amended by S.I . 2004/1050, 2004/2561 and 2004/2741.

(2)

2002 c. 28.

(3)

S.I. 2004/3101.

(4)

OJ No L 159, 30.06.00, p.1.

(5)

2002 c.8.