Singapore legislation
Regulation 12
of United Nations (Sanctions — Democratic People’s Republic of Korea) Regulations 2010
Regulation 12
Prohibition against provision of financial services and other resources contributing to prohibited activity
Subregulation 1
A person in Singapore or a citizen of Singapore outside Singapore must not, directly or indirectly —
provide any financial services (including the granting of export credits, guarantees or insurance); or
transfer financial assets or resources, or other assets or resources,that may contribute to any prohibited activity.
Subregulation 2
In proceedings for an offence under this regulation, it is not necessary for the prosecution to prove that an accused knew or had reason to believe that the provision of financial services, or the transfer or financial assets or resources, or other assets or resources, may contribute to any prohibited activity.
Subregulation 3
However, it is a defence to the charge for an offence under this regulation for the accused to prove, on a balance of probabilities, that the accused did not know, and could not by the exercise of due diligence have known, that the provision of financial services, or the transfer of financial assets or resources, or other assets or resources, may contribute to any prohibited activity.
Subregulation 4
In this regulation, “prohibited activity” means —
any nuclear-related, ballistic missile-related, or other weapons of mass destruction-related programs or activities of the Democratic People’s Republic of Korea; or
any activity that amounts to an offence under paragraph (1) or regulation 5, 5A, 6, 7, 8, 8A, 8B(1), 8C, 8D, 8E(1), 9, 9A, 10, 11 or 12A.