Cap 537AE s 5A Prohibition against engaging in certain financial transactions (United Nations Sanctions (Democratic People's Republic of Korea) Regulation; UNITED NATIONS SANCTIONS ORDINANCE)

Contents of Section

Chapter:	537AE	Title:	United Nations Sanctions (Democratic People's Republic of Korea) Regulation	Gazette Number:	E.R. 1 of 2013
Section:	5A	Heading:	Prohibition against engaging in certain financial transactions	Version Date:	25/04/2013

(1) This section applies to—

(a) a person acting in the HKSAR; and

(b) a person acting outside the HKSAR who is—

(i) both a Hong Kong permanent resident and a Chinese national; or

(ii) a body incorporated or constituted under the law of the HKSAR.

(2) Subject to section 5B, a person must not engage, directly or indirectly, in any financial transaction related to the provision, manufacture, maintenance or use of any specified arms the supply, sale, transfer or carriage of which is prohibited under section 2 or 3.
(3) A person must not engage, directly or indirectly, in any financial transaction related to the provision, manufacture, maintenance or use of any specified arms the procurement of which is prohibited under section 4.
(4) A person who contravenes subsection (2) or (3) commits an offence and is liable—

(a) on conviction on indictment to a fine and to imprisonment for 7 years; or

(b) on summary conviction to a fine at level 6 and to imprisonment for 6 months.

(5) It is a defence for a person charged with an offence under subsection (4) to prove that the person did not know and had no reason to believe—

(a) that the financial transaction concerned related to the provision, manufacture, maintenance or use of any specified arms;

(b) that the supply, sale, transfer or carriage of the arms concerned was prohibited under section 2 or 3; or

(L.N. 5 of 2010)