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The Democratic People’s Republic of Korea (European Union Financial Sanctions) (Amendment) (No. 2) Regulations 2016

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Amendment of the 2013 Regulations

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3.  Replace regulation 13D of the 2013 Regulations (financial support for trade) with–

“Financial support for trade

13D.—(1) A person may not provide any financial support for trade which may contribute to–

(a)nuclear-related programmes;

(b)other weapons of mass destruction-related programmes;

(c)ballistic missile-related programmes, or

(d)other activities prohibited by the Council Regulation.

(2) In paragraph (1), financial support for trade includes, but is not limited to–

(a)finance;

(b)financial assistance;

(c)export credits;

(d)guarantees; and

(e)insurance.

(3) The prohibition in paragraph (1) does not apply to–

(a)contracts and agreements for the provision of financial support entered into prior to [date]; and

(b)contracts and agreements for the provision of financial support for trade in food, agricultural, medical or humanitarian purposes.”.

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