# The Democratic People’s Republic of Korea (Sanctions) (Overseas Territories) Order 2012, Article 3: Interpretation

Extent: E+W+S+N.I.

(1) In this Order, unless otherwise provided—
“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 advice, training, technical assistance, financing or financial assistance, investment services, brokering services or other services, and the transfer of financial resources and services;
“aviation fuel” means items listed in Annex Ie to the Council Regulation;
“branch”, in relation to a financial or credit institution, means a place of business which forms a legally dependent part of a financial or credit institution and which carries out directly all or some of the transactions inherent in the business of financial or credit institutions;
“brokering services” means—
(a)the negotiation or arrangement of transactions for the purchase, sale or supply of goods and technology or of financial and technical services, including from a third country to any other third country, or
(b)the selling or buying of goods and technology or of financial and technical services, including where they are located in third countries for their transfer to another third country;
“coal, iron and iron ore” means items listed in Annex Id to the Council Regulation;
“commander”, in relation to an aircraft, means the member of the flight crew designated as commander of the aircraft by the operator of the aircraft, or, if there is no operator, the person who is for the time being the pilot in command of the aircraft;
“the Committee” means the Committee of the United Nations Security Council established under paragraph 12 of the United Nations Security Council resolution 1718 adopted on 14th October 2006;
“condensates and natural gas liquids” means items listed in Annex XIc of the Council Regulation;
“copper, nickel, silver and zinc” means items listed in Annex Ih to the Council Regulation;
“the Council Regulation” means Council Regulation (EU) No 2017/1509 adopted by the Council of the European Union on 30th August 2017 concerning restrictive measures against the Democratic People’s Republic of Korea and repealing Regulation (EC) No 329/2007;
“crude oil” means items listed in Annex XIe of the Council Regulation;
“designated person” means any person listed in Annex XIII, XV, XVI, or XVII to the Council Regulation and any person subject to a direction made by the Treasury under regulation 7A of the Democratic People’s Republic of Korea (European Union Financial Sanctions) Regulations 2013;
“designated vessel” means a vessel designated by the Committee pursuant to paragraph 12 of resolution 2321 (2016) or listed in Annex XIV to the Council Regulation;
“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;
“earth and stone, including magnesite and magnesia” means items listed in Annex XIi of the Council Regulation;
“economic resources” means assets of every kind, whether tangible or intangible, movable or immovable, actual or potential which are not funds but can be used to obtain funds, goods or services, including vessels, such as maritime vessels;
“export” includes shipment as stores;
“exportation” in relation to any ship or aircraft, includes taking the ship or aircraft out of the Territory, whether or not it is conveying goods or passengers or moving under its own power, and cognate expressions are to be construed accordingly;
“financial institutions” includes companies performing financial services commensurate with those provided by banks;
“financing or financial assistance” includes grants, loans, export credit insurance, insurance and reinsurance;
“food and agricultural products” means items listed in Annex XIg of the Council Regulation;
“frozen account” means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;
“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 entities, 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 derivatives contracts,
(d)interest, dividends or other income on or value accruing from or generated by assets,
(e)credit, rights of set-off, guarantees, performance bonds or other financial commitments,
(f)letters of credit, bills of lading and bills of sale,
(g)documents providing evidence of an interest in funds or financial resources, or
(h)any other instrument of export financing;
“gold and ores” means items listed in Annex Ic to the Council Regulation;
“goods” includes items, materials and equipment;
“Governor” means the Governor or other officer administering the Government of the Territory;
“helicopters and vessels” means items listed in Annex IIIb to the Council Regulation;
“industrial machinery, transportation vehicles, and iron, steel and other metals” means the items listed in Part A of Annex XIl of the Council Regulation;
“insurance” means an undertaking or commitment where a ... person is obliged, in return for a payment, to provide another person, in the event of materialisation of a risk, with an indemnity or a benefit as determined by the undertaking or commitment;
“investment services” means—
(i)reception and transmission of orders in relation to one or more financial instruments,
(ii)execution of orders on behalf of clients,
(iii)dealing on own account,
(iv)portfolio management,
(v)investment advice,
(vi)underwriting of financial instruments,
(vii)placing of financial instruments, regardless of whether on a firm commitment basis, or
(viii)any service in relation to the admission to trading on a regulated market or trading on a multilateral trading facility;
lead and lead ore” means items listed in Annex XIb of the Council Regulation;
“luxury goods” means luxury goods listed in Annex III to the Council Regulation;
“machinery and electrical equipment” means items listed in Annex XIh of the Council Regulation;
“master”, in relation to a ship, includes any persons 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;
...
“payee” means a person that is the intended recipient of transferred funds;
“payer” means a person—
(i)that holds a payment account and allows a transfer of funds from that payment account, or
(ii)that gives a transfer of funds order;
“payment service provider” means a person providing transfer of funds services;
“petroleum products” means items listed in Annex If to the Council Regulation;
“real property” means land, buildings and parts therof, which are located outside the territory of North Korea;
“refined petroleum products” means items listed in Annex XId of the Council Regulation;
“reinsurance” means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd’s, the activity consisting in accepting risks, ceded by any member of Lloyd’s, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd’s;
“relevant institution” means—
(a)any person who may lawfully accept deposits in or from within the Territory by way of business, or
(b)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;
“relevant person”—
(a)in relation to a ship, aircraft or vehicle falling within article 7(7)(a) or (b) means—
(i)the owner, charterer or master of the ship,
(ii)the owner, charterer, operator or commander of the aircraft, or
(iii)the owner, driver or operator of the vehicle;
(b)in relation to a ship or aircraft falling within article 7(7)(c) means—
(i)the charterer of the ship or aircraft, or
(ii)the master of the ship, or operator of the aircraft;
“resolution 2321 (2016)” means United Nations Security Council resolution 2321 adopted on 30th November 2016;
“restricted goods” means—
(a)the goods, software and technology specified in Schedule 2 to the Export Control Order 2008,
(b)so far as not covered by paragraph (a), the goods, software and technology specified in the Common Military List of the European Union as amended from time to time, and
(c)the goods, software and technology listed in Parts I, II, III, V, VI and VII of Annex II to the Council Regulation;
(d) other goods and technology listed in Annex III to resolution 2321 (2016); and
(e)any other item listed in a conventional arms dual-use list adopted pursuant to paragraph 7 of resolution 2321 (2016).
“seafood” includes all seafood including fish, crustaceans, molluscs, and other aquatic invertebrates in all forms, as listed in Annex XIa of the Council Regulation;
“services incidental to” means services rendered on a fee or contract basis by units mainly engaged in the production of transportable goods, and services typically related to the production of such goods;
“ship” includes every description of vessel used in navigation;
“ship supply services” means the provision to a ship of bunker oil or any other supply, provision or service, other than basic provisions for the crew, to facilitate a voyage by that ship;
“shipment” includes loading into an aircraft;
“ships, boats and floating structures” means items listed in Annex XIk of the Council Regulation;
“statues” means items listed in Annex IIIa to the Council Regulation;
“stores” means goods for use in a ship or aircraft and includes fuel and spare parts and other articles of equipment, whether or not for immediate fitting, but excludes any goods for use in a ship or aircraft as merchandise for sale by retail to persons carried in them;
“technical assistance” means any technical support related to repairs, development, manufacture, assembly, testing, maintenance, or any other technical service, and may take forms such as instruction, advice, training, transmission of working knowledge or skills or consulting services, including verbal forms of assistance;
“the Territory” has the meaning given in article 2(5);
“transfer” in relation to funds means—
(a)any transaction carried out on behalf of a payer through a payment service provider by electronic means, with a view to making funds available to a payee at a payment service provider, regardless of whether the payer and the payee are the same person, or
(b)any transaction by non-electronic means such as in cash, cheques or accountancy orders, with a view to making funds available to a payee regardless of whether the payer and payee are the same person;
“textiles” means items listed in Annex XIf of the Council Regulation;
“vehicle” means land transport vehicle.
“wood” means items listed in Annex XIj of the Council Regulation.
(2) For the purpose of the definition of “relevant institution” in paragraph (1)—
(a) the activity of accepting deposits has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under section 22 of that Act, and
(b) a person is not regarded as accepting deposits by way of business if—
(i) the person does not hold himself or herself out as accepting deposits on a day to day basis, and
(ii) any deposits which the person 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) 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.
(4) An expression used both in this Order and in the Council Regulation has the meaning given in the Council Regulation.
(5) A reference in this Order to any enactment (including legislation of the European Union) or statutory instrument is to be construed as a reference to that enactment or instrument as amended from time to time.

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Source: https://www.legislation.gov.uk/uksi/2012/3066/article/3 (the official version)
Page: https://openlegislation.uk/democratic-peoples-republic-of-korea-sanctions-overseas-territories-order-2012/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.