Council Decision (CFSP) 2016/849Show full title

Article 11 U.K.

1. Investment in the territories under the jurisdiction of Member States by the DPRK, its nationals, or entities incorporated in the DPRK or subject to its jurisdiction, or by persons or entities acting on their behalf or at their direction, or by entities owned or controlled by them, shall be prohibited.

[F1 2. The following shall be prohibited:

(a) the acquisition, maintenance or extension of a participation in any entities in the DPRK, or in DPRK entities or DPRK-owned entities outside the DPRK, including the acquisition in full of such entities and the acquisition of shares or other securities of a participatory nature, or in activities or assets in the DPRK;

(b) the granting of any financing or financial assistance to entities in the DPRK, or to DPRK entities or DPRK-owned entities outside the DPRK, or for the documented purpose of financing such entities in the DPRK;

(c) the opening, maintenance and operation of all joint ventures or cooperative entities, new and existing, by Member States' nationals or in their territories with DPRK entities or individuals whether or not acting for or on behalf of the government of the DPRK; and

(d) the provision of investment services directly related to the activities referred to in points (a) to (c).]

[F2 3. Paragraph 2, point c, shall not apply to joint ventures or cooperative entities, in particular those that are non-commercial, public utility infrastructure projects which do not generate profit, that have been approved by the Sanctions Committee in advance on a case-by-case basis.

4. Member States shall close any such existing joint venture or cooperative entity no later than by 9 January 2018 if such joint venture or cooperative entity has not been approved by the Sanctions Committee on a case-by-case basis. Member States shall also close any such existing joint venture or cooperative entity within 120 days after the Sanctions Committee has denied a request for approval.]

[F3 5. Point a of Paragraph 2 a shall not apply to investments which the competent authority of the Member State concerned has determined are exclusively for humanitarian purposes, and provided that they are not in the sectors of mining, refining and chemical industries, metallurgy and metalworking and aerospace.]

Textual Amendments

F1 Substituted by Council Decision (CFSP) 2017/1860 of 16 October 2017 amending Decision (CFSP) 2016/849 concerning restrictive measures against the Democratic People's Republic of Korea.

F2 Inserted by Council Decision (CFSP) 2017/1838 of 10 October 2017 amending Decision (CFSP) 2016/849 concerning restrictive measures against the Democratic People's Republic of Korea.

F3 Inserted by Council Decision (CFSP) 2017/1860 of 16 October 2017 amending Decision (CFSP) 2016/849 concerning restrictive measures against the Democratic People's Republic of Korea.