Sec. 7128. MODIFICATION OF REPORT ON IMPLEMENTATION OF UNITED NATIONS SECURITY COUNCIL RESOLUTIONS BY OTHER GOVERNMENTS
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## SEC. 7128 MODIFICATION OF REPORT ON IMPLEMENTATION OF UNITED NATIONS SECURITY COUNCIL RESOLUTIONS BY OTHER GOVERNMENTS Section 317 of the Korean Interdiction and Modernization of Sanctions Act (title III of Public Law 115-44; 131 Stat. 950) is amended— ####
(1)in subsection (a)— #####
(A)in the matter preceding paragraph (1), by striking “Not later than 180 days after the date of the enactment of this Act, and annually thereafter for 5 years,” and inserting “Not later than 180 days after the date of the enactment of the Otto Warmbier North Korea Nuclear Sanctions and Enforcement Act of 2019, and annually thereafter for 5 years,”; #####
(B)in paragraph (3), by striking “; or” and inserting a semicolon; #####
(C)by redesignating paragraph
(4)as paragraph (8); and #####
(D)by inserting after paragraph
(3)the following: > > #### “(4) > > prohibit, in the territories of such countries or by persons subject to the jurisdiction of such governments, the opening of new joint ventures or cooperative entities with North Korean persons or the expansion of existing joint ventures through additional investments, whether or not for or on behalf of the Government of North Korea, unless such joint ventures or cooperative entities have been approved by the committee of the United Nations Security Council established by United Nations Security Council Resolution 1718 (2006); > > > #### “(5) > > prohibit the unauthorized clearing of funds by North Korean financial institutions through financial institutions subject to the jurisdiction of such governments; > > > #### “(6) > > prohibit the unauthorized conduct of commercial trade with North Korea that is prohibited under applicable United Nations Security Council resolutions; > > > #### “(7) > > prevent the provision of significant financial services to North Korean persons or the transfer of such services to North Korean persons to, through, or from the territories of such countries or by persons subject to the jurisdiction of such governments; or” > ; and ####
(2)by amending subsection
(c)to read as follows: > > ### “(c) Definitions > > In this section: > > > #### “(1) Appropriate congressional committees and leadership > > The term ‘appropriate congressional committees and leadership’ means— > > > ##### “(A) > > the Committee on Foreign Relations, the Committee on Banking, Housing, and Urban Affairs, and the majority and minority leaders of the Senate; and > > > ##### “(B) > > the Committee on Foreign Affairs, the Committee on Financial Services, the Committee on Ways and Means, and the Speaker, the majority leader, and the minority leader of the House of Representatives. > > > #### “(2) Applicable united nations security council resolution; north korean financial institution; north korean person > > The terms ‘applicable United Nations Security Council resolution’, ‘North Korean financial institution’, and ‘North Korean person’ have the meanings given those terms in section 3 of the North Korea Sanctions and Policy Enhancement Act of 2016 (22 U.S.C. 9202).” > .
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Sec. 7128
MODIFICATION OF REPORT ON IMPLEMENTATION OF UNITED NATIONS SECURITY COUNCIL RESOLUTIONS BY OTHER GOVERNMENTS
Stat.131 Stat. 950
Cites 3Cited by 0 across 0 sources