European Union (Democratic People's Republic of Korea) (Financial Sanctions) Regulations 2012.
Statutory Instruments
Source: Statutory Instruments

num: 1
paragraphs: These Regulations may be cited as the European Union (Democratic People’s Republic of Korea) (Financial Sanctions) Regulations 2012.
num: 2
paragraphs: (1) In these Regulations “Council Regulation” means Council Regulation (EC) No. 329/2007 of 27 March 20071, as amended by—
(a) Commission Regulation (EC) No. 117/2008 of 28 January 20082 together with the Corrigendum3 to that Regulation,
(b) Commission Regulation (EC) No. 389/2009 of 12 May 20094 ,
(c) Commission Regulation (EC) No. 689/2009 of 29 July 20095 ,
(d) Council Regulation (EU) No. 1283/2009 of 22 December 20096 ,
(e) Council Regulation (EU) No. 567/2010 of 29 June 20107 ,
(f) Commission Regulation (EU) No. 1251/2010 of 22 December 20108 , and
(g) Commission Implementing Regulation (EU) No. 1355/2011 of 20 December 20119 .
(2) A word or expression which is used in these Regulations and which is also used in the Council Regulation has, unless the context otherwise requires, the same meaning in these Regulations as it has in the Council Regulation.
num: 3
paragraphs: Subject to Regulation 4, a person commits an offence if he or she infringes the provisions of the Council Regulation as regards–
(a) the provision of financing or financial assistance,
(b) the freezing of funds or economic resources,
(c) the making available of funds or economic resources,
(d) the due application of measures by credit and financial institutions in their activities with the institutions referred to in paragraph 2 of Article 11a of the Council Regulation,
(e) the notification or supply of information to, or cooperation with, the competent authority, or
(f) the participation in activities to circumvent the requirements of the Council Regulation as regards paragraph (a), (b), (c), (d) or (e).
num: 4
paragraphs: A person who has received an authorisation under Article 5, 7 or 8 of the Council Regulation may, subject to compliance with the terms and conditions of it, do such of the things referred to in Regulation 3 as are so authorised.
num: 5
paragraphs: The Central Bank of Ireland may, for the purposes of the administration and enforcement of the provisions of these Regulations, give such directions or issue such instructions to a person as it sees fit.
num: 6
paragraphs: A person who fails to comply with a direction given or an instruction issued under Regulation 5 commits an offence.
num: 7
paragraphs: Where an offence under these Regulations is committed by a body corporate and is proved to have been so committed with the consent, connivance or approval of or to have been attributable to the neglect on the part of any person, being a director, manager, secretary or other officer of the body corporate or a person who was purporting to act in any such capacity, that person, as well as the body corporate, commits an offence and is liable to be proceeded against and punished as if he or she committed the first mentioned offence.
num: 8
paragraphs: A person guilty of an offence under these Regulations is liable—
(a) on summary conviction, to a Class A fine or to imprisonment for a term not exceeding 12 months or to both, or
(b) on conviction on indictment, to a fine not exceeding €500,000 or to imprisonment for a term not exceeding 3 years or to both.
num: 9
paragraphs: The European Union (Democratic People’s Republic of Korea) (Financial Sanctions) Regulations 2011 ( S.I. No. 167 of 2011 ) are revoked.