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2.—(1) The Democratic People’s Republic of Korea (European Union Financial Sanctions) Regulations 2017(1) are amended as follows.
(2) In regulation 18 (investment and commercial activities)—
(a)in sub-paragraph (3) after “establish” insert “, maintain or operate”; and
(b)after sub-paragraph (3) insert—
“(3A) A person is required to close any joint ventures or cooperative entities with a person, entity or body listed in paragraph (6)—
(a)by 9th January 2018; or
(b)within 120 days from the date on which the Sanctions Committee has denied a request for approval, to continue the joint venture or cooperative entity;
whichever is the later.”;
(c)after sub-paragraph (6) insert—
“(6A) In this regulation “Sanctions Committee” means the committee of the United Nations Security Council established under paragraph 12 of UN Security Council Resolution 1718 (2006).”
S.I. 2017/218; amended by S.I. 2017/556, 2017/560, 2017/754, 2017/883 and 2017/928.
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