Regulations Implementing the United Nations Resolutions on the Democratic People’s Republic of Korea (DPRK)

15 (1) A person whose property has been affected by the application of section 9 may apply to the Minister for a certificate to exempt property from the application of that section if the property is necessary for basic or extraordinary expenses or if it is the subject of a judicial, administrative or arbitral lien, a hypothec or prior claim, or a judgment.

(2) The Minister shall issue a certificate, if the necessity of that property is established in accordance with the Security Council Resolution, or if the property is the subject of a judicial, administrative or arbitral lien, a hypothec or prior claim, or a judgment,

• (a) in the case of property necessary for basic expenses, within 15 days after receiving the application, if the Committee of the Security Council did not refuse the release of the property;

• (b) in the case of property necessary for extraordinary expenses, within 30 days after receiving the application, if the Committee of the Security Council approved the release of the property; and

• (c) in the case of property that is the subject of a judicial, administrative or arbitral lien, a hypothec or prior claim, or a judgment, within 90 days after receiving the application, if the lien, hypothec, prior claim or judgment was entered prior to October 14, 2006, is not for the benefit of a designated person and has been brought to the attention of the Committee of the Security Council or the Security Council of the United Nations, as the case may be, by the Minister.