On 2nd October, the Royal United Services Institute published an updated version of the model law from the previous guidance paper produced by RUSI in July 2017 on countering proliferation finance. It aims to assist governments seeking to strengthen their legal and institutional frameworks to counter proliferation finance. It says that there have been a number of updates to UN Security Council Resolutions relating to North Korea that are taken into account. Updated elements include –
- the quick reference table summarising relevant obligations under UN Security Council Resolutions and FATF recommendations has also been updated and appended to the model law;
- creates a definition of proliferation financing;
- a schedule of Controlled Items related to North Korea;
- provisions allowing for the administration of frozen assets added; and
- simplifies some offence provisions.