The Democratic People’s Republic of Korea (European Union Financial Sanctions) (Amendment) (No. 3) Regulations 2016

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(1) 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”.

(1)

S.I. 2013/1877, as amended by S.I. 2016/578 and S.I. 2016/634.